Didn’t You Know? You’ve Already Agreed to Let Banks Freeze or Seize Your Deposits Under Certain Circumstances (+3K Views)

The funds you have placed on deposit and the property you thought was secured in your safe deposit box may not be safe under certain circumstances. They may, in fact, all end up belonging to the bank and not to you. Let me explain.

So say edited excerpts from an article* submitted by Ron Paul on http://dinarvets.com  entitled Do not use Safety Deposit Boxes.

[The post by is presented compliments of www.munKNEE.com (Your Key to Making Money!) and the Intelligence Report newsletter and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.]

The article goes on to say in further edited excerpts:

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. Furthermore, when executive orders that govern national emergencies are 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 safe 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 you will be allowed open access to your safe deposit box and the property that is in it and to your bank accounts.
• However, when failed banks shut their doors you will not be given advanced notice and will not be allowed into said banks thereafter.

You may find that the funds you placed on deposit and the property you thought was secured in the safe deposit box now belong to the bank, not to you….

[If that wasn’t bad enough, apparently] the Department of Homeland Security (DHS) has the absolute right, under the Patriot Act:

• to seize, without any warrant whatsoever, any and all customer bank accounts,
• to open and inspect the contents of “selected safe deposit boxes” and
• to seize or photograph, as evidence, and at the discretion of the supervising agent, 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 and
  • pornography or any material that, in  the opinion of the agent, shall be deemed of to be of a contraband nature”

and that should any bank employee, on any level,:

• release “improper” “classified DHS Security information” to:
  • any member of the public, including the customers whose boxes have been clandestinely opened and inspected, or
  • “any other party, to include members of  the media” or
• post any such information on the internet

that would be grounds for the immediate termination of said employee or employees and their prosecution under the Patriot Act.

[It should also be noted that the contents of your safe deposit box are not insured – at all. Watch this informative 2:08 long video from CBSMoneyWatch.com entitled The Truth About Safe Deposit Boxes.]

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….The same holds true for storage facilities.

Bottom Line:

Don’t put anything valuable and/or non-replaceable in any bank or storage facility.

[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]

*http://dinarvets.com/forums/index.php?/topic/52464-do-not-use-safety-deposit-boxes/#ixzz2PGx3B3n6 and http://investmentwatchblog.com/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/#pe9qtWVX5isHzrPP.99

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