safe deposit boxes censored?

this from a site concerned the US is in economic trouble. Can anyone confirm the extract below.

Bank Of America and Compass Bank managers (probably all other U.S. banks too) have been instructing their employees in the last few weeks on how to respond to customer demands in the event of a collapse of the U.S. economy - specifically telling the employees that only agents from the Department Of Homeland Security will have authority to decide what belongings customers may have from their safe deposit boxes - and that precious metals and other valuables will not be released to U.S. citizens. The bank employees have been strictly prohibited from revealing the banks’ new "guidelines" to anyone. (however, employees have been talking to friends and family)


bellaciao.org...

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[edit on 21/1/2006 by Mirthful Me]

All I can say at this time is that I have a rather intimate relationship with the staff where I bank, and will be discussing the topic with them over the next few days.

Until then, I am on the fence with this.

Peace2All

thanks for the format fix Mirthful
I'd love to here what you find if possible 12m8keall2c. Thanks.

A quick look at history, especially of the last depression, will tell you that anyone that keeps anything of value in a safe deposit box is an idiot. During the depression, when the private holding of bullion (gold in this case) products was a criminal offense, when any safe deposit box was opened, a federal agent was present to confiscate the bullion and to arrest the person.

If the economy again collapses, you can bet that the government will again call in all bullion products and criminalize private holdings of bullion. If you don't turn it in, they will take it, and you, away. However, if you have it in a private safe at home, and you were smart enough not to have your purchases recorded (or you didn't tell all your friends what you have), you may be able to profit from your holdings.

So boys and girls, if you are not prepared you may be screwed, and even if you are prepared you may need to make choices such as how strongly you feel it is necessary to defend your private property/investment rights.

Note: During the last confiscation period, certain pre-1933 coins were exempt from the law, as were some foreign coins.

Originally posted by Romeo
this from a site concerned the US is in economic trouble.

I think that site is less concerned with the US being in economic trouble and more concerned with being anti-US. It sounds like they would enjoy seeing the US fall. By the way if China has been supporting the US economy and they have almost a trillion dollars in US reserves, I don't think they are going to want one of their biggest customers and their investments to suddenly go down the drain. I don't like China controlling some of the purse strings here but I don't believe that means our economy is about to go belly up.

Sounds to me that the web site is wishfully hoping for the fall of the US and allies. I would be interested to know if the part about Bank of America having restrictions put on safe deposit boxes was true or not. The part where the article on the web site states that probably other banks have similiar orders means to me that whoever said that just doesn't know. I can say that whole web site linked is probably wrong. There may be some truth in it but I can say probably just as much as the web site does.

edited for typo

[edit on 21-1-2006 by orionthehunter]

I also know a few bankers, so Ill ask if this is true. Sounds scary eh?


[edit on 23-1-2006 by DaFunk13]

My stepdad is a banker. He works closely with the federal reserve representatives in the area because he is a loan officer. Ill ask him if anything has been going on lately. I personally only keep cash in the bank...no valueables. I dont even really trust the bank with my cash...

Originally posted by sacrifice
A quick look at history, especially of the last depression, will tell you that anyone that keeps anything of value in a safe deposit box is an idiot. During the depression, when the private holding of bullion (gold in this case) products was a criminal offense, when any safe deposit box was opened, a federal agent was present to confiscate the bullion and to arrest the person.

Is there any citation for this? This would mean that they were at every single opening of each safety deposit box, and that they'd have to be present each time a particular box was open, even today.

Also, is not bullion entirely different from gold jewelry and the like?

uber fr0g
I personally only keep cash in the bank...no valueables. I dont even really trust the bank with my cash...

That really says something if your dad is a banker. What does he do at the bank?


This is far too large of a conspiracy to keep secret.

Now if this isn't a kick inthe backpocket. I have always thought that the rent I pay on a SDBox whould ensure me some expectation of privacy. What is really bothering is if your post is founded, the Department of H/land Security should have no right whatsoever in telling the American public that they will decide what to give us from our own possesions.
I feel this would be crossing the line in a big way. Sc&ew 'em!

Is there any citation for this? This would mean that they were at every single opening of each safety deposit box, and that they'd have to be present each time a particular box was open, even today.

Citation for the 1933 gold confiscation order:
www.the-privateer.com...

With the safe deposit box loss: www.kitco.com...

There are links to the actual document, but they are very hard to read.

have fun.

Thanks sacrifice, you certainly cleared that up! I am pretty surprised at that order.

Looks like other people are worried about this too

www.swissamerica.com.../200303270921f.txt
In 1917 the Trading With The Enemy Act was passed. This legislation is still in place. It's article 5(b) states:

That the President may investigate, regulate or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange for the export, hoarding, melting, or earmarking of gold or silver coins or bullion or currency. [...]

I'm still thinking that that means coinage or bars or something, not jewelry. And apparently numismatic coins are ok. But still, wow. I was aware of the gold seizures, but didn't know that they'd actually interfere with the safe deposit boxes. Whats the point of having them really.

[edit on 23-1-2006 by Nygdan]

Nygdan>>>

Numismatic coins were defined as those made prior to a certain date, but i do not remember what that date was. If you have US or foreign Gold coins of recent mintage, they would more than likely be considered as bullion. The folks I buy from suggest that pre 1933 coins may be OK. I think that any bullion may be at risk as the rules will depend on what the government wants to accomplish. I also assume that any jewelry is fine, but if you have half a million in 18k gold chains - well - bye bye.

They had just better leave my gold crowns alone!!!

Originally posted by Nygdan

uber fr0g
I personally only keep cash in the bank...no valueables. I dont even really trust the bank with my cash...

That really says something if your dad is a banker. What does he do at the bank?

Well my dad is actually a loan officer, he deals with dishing out cash to people lol. I do appreciate banks holding my money for me while gaining interest. But, so many things could possibly go wrong at any moment. I remember one instance where a new program at a nearby bank had a glitch and lost alot of records...erasing a few account balances. Fortunately they were still in the process of converting and the records were saved. My new bank on several occasions has "lost" hundreds of dollars out of my accounts....all the while giving me the same spill " well the records indicate..." Until i show them the statements they send me monthly and my checkbook. It's just so easy for mistakes to be made. Sometimes i also get uneasy with the economy and what may lie in the future. Im not usually a worrier, but even my dad admits there are major problems with our banks.

From: Citation for the 1933 gold confiscation order:
www.the-privateer.com...

"Section 4. Upon receipt of gold coin, gold bullion, or gold certificates delivered to it in accordance with Section 2 or 3, the Federal reserve bank or member bank will pay thereof an equivalent amount of any other form of coin or currency coined or issued under the laws of the Unites States."

I'm not saying that taking people's gold is right, but if people obeyed the law and turned in their gold they were reimbursed for it.

Maybe what is happening now may be different from what happened back then, but back then the government wasn't ripping these people off.

that's doublethink, i'm sorry, if forcefully seizing metal for paper isn't robbery then i don't know what is.

freedom of association and exchange are both violated by such 'laws' and i'd like to kindly point out that racially motivated 'laws' were considered laws too, but we all know what to think of it, don't we? any power used against you is hostile action, if you cheer them do you think they'll stop? appeasement, you know...

Thing is, just because a few priviledged people and guys in black robes say it is so doesn't make it so, ok?

PS: please don't construe this as encouragement of revolution and anarchy, i'm just trying to point out what our diverging interests are and that No-One will defend yours unless You do it.

Originally posted by craig732

I'm not saying that taking people's gold is right, but if people obeyed the law and turned in their gold they were reimbursed for it.

Well, yes in fact they were reimbursed. But that is not the point.

First, they took private property.

Second, they took hard currency and changed it to paper. Paper currency in times of economic stress is worthless - inflation can make paper money a joke.

Third, the rate of reimbursement was artificially set by Uncle Sugar - to benefit Uncle Sugar.

I am wondering how you would react if the government started seizing your private property and gave you what it thought the value was, eliminating your chance to make a profit (or realize any benefit, on what you earned.

I will repeat what Long Lance said: "...I'm sorry, if forcefully seizing metal for paper isn't robbery then i don't know what is."

[edited - because I can't spell today ]

[edit on 24-1-2006 by sacrifice]

Whenever I read something here, I tend to try and balence it out with a little research. I have often wondered about fiat money and how it gets generated endlessly. To get a better grasp of this I found a site that explains a lot about this.
www.gold-eagle.com...

Perhaps it can answer some questions for others here. I also wondered about this compensation that is promised to those who would be surrendering their gold. Could one demand this compensation in other forms? Say land, or stocks, or even material goods? I have read many stories where the FED was demanding gold and making it criminal to possess it. I wonder if bartering would ever become fashionable again.

Originally posted by sacrifice
If you have US or foreign Gold coins of recent mintage, they would more than likely be considered as bullion.

I would excpect so, yes.

I also assume that any jewelry is fine, but if you have half a million in 18k gold chains - well - bye bye.

?
Really? Wow.

They had just better leave my gold crowns alone!!!

Wouldn't they expressly take those sorts of things? Especially since its foreign currency?

craig
Maybe what is happening now may be different from what happened back then, but back then the government wasn't ripping these people off.

Yes and no. Gold like that is usually purchased as an invenstment, and when paper money that isn't backed by gold is exchanged for actual gold, your investment is now effectively gone. ANd it may really be gone if the paper money crashes. Also, consider that inflation will affect paper money moreso than gold. So if you have a certain mass of gold back then, and managed to keep it to today, it'd be worth a heck of a lot, but if you traded it all in for paper money back then, that money wouldn't buy you nearly as much today.

Indeed I think that this is what happened in this 1933 seizure.

Responses to the points of conversation inthis article. I will follow the numbers of the paragraphs, as they are numbered:

#1. It would seem that many more countries are preparing to assist in the halting of Iranian nuclear weaponry development. We miss that glaringly obvious reason for attack and jump to the dumping of the dollar? Seriously.

#2. Congress changes the statute if that happens. This Sri Lanakan gloom and doom paper doesn't understand American "laws" I see.

#3. Really? We are to believe this from a paper on the other side of the world? I would have thought my local paper would have picked up on this a little quicker!

#4. Here we go with FEMA and its camps again. How, pray tell, are we going to maintain a presence in Iraq, chase down terrorists in places the public doesn't even hear about, still have a presence in the usual partsz of the world, prepare to spank Iran and open up internment camps all over the country? I'm pretty sure someone would have let that cat out of the bag by now, or, if nothing else, I would have seen the job postings in the papers. Wanted. Security officers for internment camps tha tare to be opened country-wide shortly. Must be willing to locate, swing a baton and abuse fellow citizens who are innocent of any crime. Send resume and bench press weight.

#5. Nothing new under the sun, there. What is allegedly new is old stuff. Anyone remember that little thing we had back in the 1860's?
Posse Commitatus aside, the rest of this is not outlandish on its face.

It just might seem to me that this article has a bit of an agenda. Could it be nothing more than a pipe dream, the end of America? I think the very first paragraph in the article makes it perfectly clear what the author's opinion of the U.S. is. Remember that, all you giving Americans; you donated a bajillion bucks to the tsunami relief effort because you are building an empire.

Have to have something in there for them to take it away. All I have is credit card debt.