Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Are Bank Safe Deposit Boxes Safe? No
The Market Oracle ^ | 11-2-2009 | David Vaughn

Posted on 11/02/2009 7:31:28 PM PST by blam

Are Bank Safe Deposit Boxes Safe? No

Commodities / Gold & Silver 2009
Nov 02, 2009 - 06:02 PM
By: David_Vaughn

Got a lot of email when I suggested that safe deposit boxes are not safe from bank or government intrusion.

In most minds the “safe deposit box” is the “holy grail.” Our comfort will always be OK as long as our safe deposit box remains safe from others ill intent.
Noticed the last few years how the Swiss Banks are no longer confidential places for one to store anything of value? The US government has applied pressure on Switzerland to make available Swiss bank records at any time requested by the US Government.

And in light of these facts you have the foolishness to believe your humble safe deposit box at the local corner bank is safe? Give me a break. Why is it that US citizens always seem to be behind the times when assimilating current information?
Well, I can understand this if the only news one watches is Brian Williams or Katie Couric. I feel informed already. Want to hear a sample of Ms. Courics world wide exposing articles seen and heard across the world?

[snip]


TOPICS: News/Current Events
KEYWORDS: banks; deposits; gold; govrrnment; invasionofprivacy; lockbox; privacy; safedepositbox

1 posted on 11/02/2009 7:31:29 PM PST by blam
[ Post Reply | Private Reply | View Replies]

To: blam

Interesting....BofA nearly auctioned off OUR Bank Deposit contents (not a whole lot was in it compared to some)....they made a move of boxes (within the bank)...and we had a change of our home address (I also had a business account there)and said they had notified us....and we were living out of the country....caught it in time, however....but, now will not use them.


2 posted on 11/02/2009 7:38:01 PM PST by goodnesswins (Tagline, oh tagline, whereart thou?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam
Didja notice it was *CALIFORNIA* ($42 bilion biennial deficit at one point) who was taking the lead?

My fear is that Obama & Congress will accelerate this, requiring an affirmative "opt-in" notification in order to hold onto your deposits for more than 72 hours.

Cheers!

3 posted on 11/02/2009 7:38:07 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Safe deposit boxes haven’t been safe for years now. Government can crack into them anytime they want, pretty much. expect it more as we end up with fewer and fewer banks.


4 posted on 11/02/2009 7:42:24 PM PST by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
[ Post Reply | Private Reply | To 1 | View Replies]

Comment #5 Removed by Moderator

To: grey_whiskers

It won’t be limited to safe deposit boxes. Homes, businesses, farms and anything else they want will be on the list.


6 posted on 11/02/2009 7:44:06 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: blam
Gold Confiscation Risk


7 posted on 11/02/2009 7:46:40 PM PST by blam
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Get a good, fire-proof, home safe. Hard to trust anyone other than yourself and your family these days. I hate that I have to type that and I miss the U.S. that I knew as a younger person.


8 posted on 11/02/2009 7:47:22 PM PST by JustaDumbBlonde (Southern by choice ... American by the grace of God)
[ Post Reply | Private Reply | To 1 | View Replies]

To: JustaDumbBlonde
"Get a good, fire-proof, home safe. Hard to trust anyone other than yourself and your family these days. I hate that I have to type that and I miss the U.S. that I knew as a younger person."

Yes, its sad that we are adapting to our corrupt, thuggish, out of control government, it's it?

It's like everyone is re-arranging the deck chairs waiting for someone to step up and say what we're going to do to STOP it.

9 posted on 11/02/2009 7:53:57 PM PST by two23 (The czars in the WH are commies)
[ Post Reply | Private Reply | To 8 | View Replies]

To: two23

I have been trying to do something about it for years ... by not voting for the corrupt, ignorant and arrogant, even if they do have an (R) following their name. For that, I’ve been called just about every name in the book around here. Now I guess it’s a little more fashionable to buck the system.


10 posted on 11/02/2009 7:59:55 PM PST by JustaDumbBlonde (Southern by choice ... American by the grace of God)
[ Post Reply | Private Reply | To 9 | View Replies]

To: two23
waiting for someone to step up and say what we're going to do to STOP it.

If you need a playbook you don't belong in the game.

11 posted on 11/02/2009 8:04:13 PM PST by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: blam

http://www.thebigmoney.com/articles/history-lesson/2008/12/05/depression-diary-part-4?page=full

Depression Diary, Part 4

This is the fourth installment. For more, click on the first, second, and third parts.

August 22, 1931. There is a quiet but steady stream of depositors at every bank in Youngstown this morning, withdrawing their funds. The closing of banks in Toledo and Warren received much publicity and distrust of banks is growing like a cancer. It is a movement which feeds on itself and is hard to stop.

Even the strongest banks can’t keep this up long. They do not have enough cash to pay everybody. Much of their funds are invested in railroad bonds and other securities which were once considered gilt-edged but are now selling below par so that the bank cannot afford to liquidate. Investments like mortgages are frozen tight. There is clearly something wrong with our banking system which permits such a situation to come about. It is hard to rent a safety box today because there has been such a demand by hoarders.


12 posted on 11/02/2009 8:20:46 PM PST by JerseyHighlander
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurker

I don’t need a playbook..what I meant was that the process is slow and I’m not very confident about the election process anymore because of rampant voter fraud.


13 posted on 11/02/2009 8:48:30 PM PST by two23 (The czars in the WH are commies)
[ Post Reply | Private Reply | To 11 | View Replies]

To: JustaDumbBlonde

Yes, we have done everything we can, time to fire most of them or stop funding the whole rotten lot.


14 posted on 11/02/2009 8:51:28 PM PST by two23 (The czars in the WH are commies)
[ Post Reply | Private Reply | To 10 | View Replies]

To: twistedwrench

flr


15 posted on 11/02/2009 9:31:53 PM PST by twistedwrench
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

bump


16 posted on 11/02/2009 10:04:09 PM PST by VOA
[ Post Reply | Private Reply | To 1 | View Replies]

To: wafflehouse; Leisler; PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; ...
*Ping!*
17 posted on 11/02/2009 10:44:44 PM PST by rabscuttle385 (http://restoretheconstitution.ning.com/)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

A friend of mine thinks his cash is safe there. He has around 100,000. in there. I keep telling him to get it the hell out, he thinks they can’t touch it. I’m sending him this post in an email. Let’s see if he takes it out.


18 posted on 11/02/2009 10:57:27 PM PST by mojitojoe (“Medicine is the keystone of the arch of socialism.” - Vladimir Lenin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam
This country is in desparate need of a new type of banking system.

These banks would be a storehouse for money, and would charge a fee for storage.

The banks would not practice fractional reserve banking, and would not use their deposits to indebt others.

That's the only hope that our national economy has of surviving.

19 posted on 11/02/2009 11:19:52 PM PST by politicket (1 1/2 million attended Obama's coronation - only 14 missed work!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

bttt


20 posted on 11/03/2009 2:23:11 AM PST by SuperLuminal (Where is another agitator for republicanism like Sam Adams when we need him?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: goodnesswins
That's interesting.

When my dad dies over 20 years ago, my mom made the mistake of saying something to the bank people when she went to go into the safe deposit box for some papers. They told her that since he had died, someone would have to have a look in the box while she was there before she removed any contents.

Looking for something illegal, or just a stash of jewelry or money for them to confiscate tax, or something like that.

When my mom got sick just before she died, we learned that lesson and my sister, who jointly held the box, opened a new one and a new bank account and transferred everything from the box and almost all the money from the account into new ones jointly held with my other sister. That way, we still had access to what we needed and kept the government out of it as much as possible.

I've been after mr. mm to look into a fire and waterproof safe for the home. I know it'll be an expense, but it will pay for itself in a few years without a safe deposit box fee every year.

21 posted on 11/03/2009 6:04:58 AM PST by metmom (Welfare was never meant to be a career choice.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: JustaDumbBlonde
Get a good, fire-proof, home safe. Hard to trust anyone other than yourself and your family these days. I hate that I have to type that and I miss the U.S. that I knew as a younger person.

yes, it is sad. I personally am using 2 safety deposit boxes at local credit unions as a supplement to 2 gun safes. Even fireproof safes are only good for a set amount of time. And with a home invasion robbery, thought I'd want some assets spread around.

As you said, it's sad to have to think this way.
22 posted on 11/03/2009 9:16:32 AM PST by CottonBall
[ Post Reply | Private Reply | To 8 | View Replies]

To: two23

Yes, get a safe and make it a good one — large enough to be really really tough to move — not those little cubes many folks have in their homes. Local police laugh about those —

Get a sturdy large safe — you’ll sleep better.


23 posted on 11/03/2009 2:24:44 PM PST by CaliforniaCon
[ Post Reply | Private Reply | To 9 | View Replies]

To: Secret Agent Man

Unclaimed property periods keep getting shorter, as do the notification requirements.


24 posted on 11/03/2009 3:37:17 PM PST by tbw2 (Freeper sci-fi - "Humanity's Edge" - on amazon.com)
[ Post Reply | Private Reply | To 4 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson