DHS writes to Banks:May inspect safe deposit boxes & seize contents w/ no warrants

[Julio B]

[QUOTE=proudandrenewed;1220237]U.S DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS - IN WRITING - IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!

Bah! Unsubstantiated rumor (started in January of 2006) nothing more. (1) Contents of SDBs are not part of the bank's balance sheet, and cannot be seized without due process. Even under Comrade Roosevelt, citizens were given notice to turn over their gold and had roughly three weeks: (The Gold Confiscation Of April 5, 1933 -Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them (2) A bank run consists of withdrawing, en masse, money from deposit accounts only. Bankers have no idea at all of the contents of any SDB

This post amounts to spam

[proudandrenewed]

So many rights can be demolished by the Patriots Act.
A hair-breath away from a martial rule.

[fledgling]

If the president deems a national emergency, the banks will be closed and the boxes sealed. (thats my operating assumption)

[Chazmo]

If the president deems a national emergency, the banks will be closed and the boxes sealed. (thats my operating assumption)

Yeah i'm with you on that... I'm not waiting for the courts to sort it out either.

[wgadget]

Don't you just love those FDIC commercials that go, "WHERE DO YOU KEEP YOUR MONEY SAFE? Under your MATTRESS, you silly goose?" The ads give me the creeps.

[fledgling]

"backed by the full faith and credit of the United States. ..." starts to sound just like taking the fifth.

[Krank]

Kinda makes one want to rent a safety deposit box and fill it with old cheese and meat.

[twindragons11]

Don't you just love those FDIC commercials that go, "WHERE DO YOU KEEP YOUR MONEY SAFE? Under your MATTRESS, you silly goose?" The ads give me the creeps.

back in 7th grade, my English teacher told me that one of her friends kept all of their money in their car. they actually hid it there instead of the bank or home. since they dont trust the bank..

well, i do agree with them that the banks cant be trusted, but why in the car??????? thats the worst place you can possibly put it...

[Zephaniah]

Banks routinely take the contents of boxes of unclaimed accounts. The bank may try to contact someone, but after a few lame attempts, takes it upon themselves to remove the contents... which pretty much amounts to legal theft. Here is one such story - of Susanna Stumpf, and 86 year old woman who lost tens of thousands when the bank reclaimed her SDB, after shutting down that service.

"An investigation by the Los Angeles Times indicates that more than $260 million in assets, owned by more than 600,000 Californians, may have dropped into a bureaucratic black hole, made possible by both lax consumer protection laws and unenthusiastic administration of a state fund that's supposed to hold assets in trust for ``lost'' consumers. Although these assets reside with the state and can be borrowed to handle other state expenses, the names of the consumers who own these assets do not always make it into the state's computerized database of property owners.

And while the problem of unnamed accounts may be unique -- or at least exaggerated in California -- the underlying cause is often bank mergers, which are a nationwide issue. The holders of bank accounts and safe-deposit boxes everywhere should take particular care to double-check that all their account information remains correct in the event that their bank is merged with another."

[Yield2Greatness]

A spade in the ground offers more protection then a SDB, and pays about the same interests.