Do not use Safety Deposit Boxes

[Don Paul]

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!

According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that "under the Patriot Act" the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make "periodic and unannounced" visits to any bank to open and inspect the contents of "selected safe deposit boxes."

Further, the DHS "shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence" any of the following items "bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature."

DHS memos also state that banks are informed that any bank employee, on any level, that releases "improper" "classified DHS Security information" to any member of the public, to include the customers whose boxes have been clandestinely opened and inspected and "any other party, to include members of the media" and further "that the posting of any such information on the internet will be grounds for the immediate termination of the said employee or employees and their prosecution under the Patriot Act." Safety deposit box holders and depositors are not given advanced notice when failed banks shut their doors.

If people have their emergency money in a safe deposit box or an account in a bank that closes, they will not be allowed into the bank to get it out. They can knock on the door and beg to get in but the sheriff’s department or whoever is handling the closure will simply say “no” because they are just following orders.

Deposit box and account holders are not warned of the hazards of banking when they sign up. It is not until they need to get their cash or valuables out in a hurry that they find themselves in trouble.

Rules governing access to safe deposit boxes and money held in accounts are written into the charter of each bank. The charter is the statement of policy under which the bank is allowed by the government to do business. These rules are subject to change at any time by faceless bureaucrats who are answerable to no one. They can be changed without notice, without the agreement of the people, and against their will. People can complain but no one will care because this is small potatoes compared to the complaints that will be voiced when the executive order that governs national emergencies is enforced.

That order allows the suspension of habeas corpus and all rights guaranteed under the Bill of Rights.

A look at the fine print of the contract signed when a safety deposit box is opened reveals that in essence the signer has given to the bank whatever property he has put into that deposit box. When times are good people will be allowed open access to their safe deposit box and the property that is in it. This also applies to their bank accounts.

But when times get really bad, many may find that the funds they have placed on deposit and the property they thought was secured in the safe deposit box now belong to the bank, not to them. Although this was probably not explained to them when they signed their signature card, this is what they were agreeing to.

During the Great Depression in the early 1930’s people thought that many banks were going to fail. They were afraid they would lose their money so they went in mass to take it out, in what is known as a run on the banks. The government closed the banks to protect them from angry depositors who wanted their money back. Throughout history, governments have acted to protect the interests of banks and the wealthy people who own them, not the interests of depositors or box holders.

In a time of emergency, people will have no recourse if access to their safe deposit box and bank accounts is denied. If they are keeping money in a bank that would be needed in an emergency or in a time when credit is no longer free flowing, they may not be able to get it out of the bank. The emergency may occur at night or on a weekend or holiday when the bank is closed.

The solution is to take emergency cash or valuables out of the safe deposit box or bank account and secure them somewhere else, like in a home safe. An even better idea may be to close the safe deposit box account completely, letting someone else entertain the illusion of safety.

Americans have learned a few things since the Great Depression. They now have the FDIC to liquidate any failed banks.

The FDIC promises to set up a series of dates and times when safe deposit box renters can access their boxes by appointment to remove their property and surrender their keys. The FDIC also promises to mail bank customers an announcement of the dates for such events and include a question and answer page that addresses safe deposit box access.

The people have the FDIC to give them back the money they had on deposit that they were unable to get out of any failed bank that carries FDIC insurance. Sheila Bair, head of the FDIC, promises that depositor`s money will be available in 24 hours or less. But people should remember that the FDIC is just another bureaucracy, and it`s probably best not to rely on a bureaucracy in an emergency.

THE SAME HOLDS TRUE FOR STORAGE FACILITIES

DON'T PUT ANYTHING VALUABLE AND/OR NON-REPLACEABLE IN ANY BANK OR STORAGE FACILITY

[tommyboy]

Did not know this. Thank you and I am going to the bank in the AM to circumvent these Nazi-esque tactics. Thank you again for the heads up !

[Inbedded HorseHead]

..........and some question the Socialistic tendencies of this Administration. Bullfeathers!

[rick25sandi]

Hooray for the "patrotic act' and all those that supported it. Now we pay for giving up our rights

[GreginTexas]

Paul due you have HTML address or link to this info.

Thanks

[TechOps]

link?

[thunderrb]

I have a big backyard w/ a really nice shovel..

[tjmunson]

Paul due you have HTML address or link to this info.

Thanks

Absolutely!!! This is some pretty heavy duty litereature and really needs something to back it up. Great post but give it some credibility with a link or such. Thanks again.

[smee2]

Very scarey, but good to know. Thanks for the notice. Now I wonder just how we have handled this in Canada ... since we don't seem capable in most cases of being original in our law making.

smee2

[sweet C]

America...Land of the FREE? Looks like our freedoms are being taken away inch by inch! BTW thanks for the info....

[tommyboy]

Whoda thunk something as patrotic sounding and what would seem to be good for the country would end up depriving citizens of their rights to their own property that our forfathers gave to us?

To quote Ben Franklin, "We gave you a Republic. Now take care of it." (or something along those lines).

[lost one]

Yeah it's like your in jail. Where in the patriot act does it say they can ravish all safety deposit boxes without provocation. They must have a reason to go through them, They can not at radom, just like your car or your home without reason to search your personel property. The patriot act does not give them that right.

[hammy]

Did not take time to read it, sorry. If it is true it might be in here. Have to go to church, I will read when I get home.

http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RL31873_09052003.pdf

[tjmunson]

This is why rumors are so dangerous. Someone posts something in a RUMORS section and all of a sudden folks start taking it as gospel. We need to VERIFY everything before we accept it to be valid. I'm not saying there is no truth to this but Don Paul has not given us a link or any other proof that backs up his RUMOR.

How dare you people start bashing the United States of America based on an unsubstantiated RUMOR. I think our great country deserves a bit more respect than that.

This country may have a lot of imperfections but it is still the best darn country in the world!!!

[captspiffy]

Here's a simple remedy...... If you buy gold, Go to Canada..... open an account at the Royal Bank of Canada (You might consider

investing in the same bank) and then put your gold , in what ever form) into your safety deposit bank.

I get a feeling that Obama is working on getting as much of our investment as he can........

Good luck folks!

[Gut Feelings]

..........and some question the Socialistic tendencies of this Administration. Bullfeathers!

Remember this is posted in the RUMOR section. If true...it has NOTHING to do with this Administration. Stop trying to place blame on our President for every negative thing that get's posted!

[hammy]

Did not take time to read it, sorry. If it is true it might be in here. Have to go to church, I will read when I get home.

http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RL31873_09052003.pdf

Again if its true its in here.

[FlaDinar]

Well I don't know for sure, I have searched the net and havent found this information on any credible sites. Only conspiracy sites like democratic underground and Bellaciao. They basically state the same you have stated in different language but the articles are dated 2006. I think if this were true there would be a whole lot more coverage of it by the media both above and below the board, maybe you or someone else has a real link to this information.

Edited January 30, 2011 by FlaDinar

[RG7]

Thank you, but would you have a link please

[echo0marie]

Yeah it's like your in jail. Where in the patriot act does it say they can ravish all safety deposit boxes without provocation. They must have a reason to go through them, They can not at radom, just like your car or your home without reason to search your personel property. The patriot act does not give them that right.

Nope BECAUSE of the patriot act, NO provocation as you stated is needed. They CAN go through your home, car, whatever they want, and confiscate what they want. Lame, eh?

[Soldiering4U]

This seems to be true and not just a RUMOR I did a little research and found some sites with this related topic 2 of them are just "he said she said" but the first one seems to be kind of real I spent only about 2min doing this so please read and stay informed

http://seekingalpha.com/article/28238-tip-on-what-not-to-store-in-a-safe-deposit-box

http://digg.com/news/world_news/Homeland_Security_to_Confiscate_Safe_Deposit_Box_Contents_in_Emergency

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x227102

[FlaDinar]

This is why rumors are so dangerous. Someone posts something in a RUMORS section and all of a sudden folks start taking it as gospel. We need to VERIFY everything before we accept it to be valid. I'm not saying there is no truth to this but Don Paul has not given us a link or any other proof that backs up his RUMOR.

How dare you people start bashing the United States of America based on an unsubstantiated RUMOR. I think our great country deserves a bit more respect than that.

This country may have a lot of imperfections but it is still the best darn country in the world!!!

You don't do away with the body because of the cancer... you remove the cancer to restore the body....operation 2012.

This seems to be true and not just a RUMOR I did a little research and found some sites with this related topic 2 of them are just "he said she said" but the first one seems to be kind of real I spent only about 2min doing this so please read and stay informed

http://seekingalpha.com/article/28238-tip-on-what-not-to-store-in-a-safe-deposit-box

http://digg.com/news/world_news/Homeland_Security_to_Confiscate_Safe_Deposit_Box_Contents_in_Emergency

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x227102

Snopes says its not true..... http://www.snopes.com/politics/business/safedeposit.asp

Edited January 30, 2011 by FlaDinar

[RG7]

Found this link and it does date back to Jan of 06

http://www.laborlawtalk.com/showthread.php?t=100405&page=1

[tommyboy]

Thanks to all you who debunked this post. Saved this old guy from a heart attack. I've put "SNOPES" in my favorite files for future reference.

[tevye02]

Whoda thunk something as patrotic sounding and what would seem to be good for the country would end up depriving citizens of their rights to their own property that our forfathers gave to us?

To quote Ben Franklin, "We gave you a Republic. Now take care of it." (or something along those lines).

Close on that one Tommyboy and it still works your way - However When Ben was asked what had been created he replied "A Democracy - If you can keep it" The if "you can keep it" is a little more telling and sounds like the founders knew that forces would try to take it away. Hmmmmmm smart guys them founders!

Thanks Tommyboy for reminding us.

BTW everybody tool tip - six inch PVC pipe and end caps. Dont forget X marks the spot!