People that are buying safes?

[126coupe]

heard it on the news, they are selling like crazy, people are stashing cash!
How about a safe deposit box? Idiots!

[VincentVega]

Right, so when the bank closes your $$ is so safe not even you can get it.

[126coupe]

Originally Posted by Chris Martin

Right, so when the bank closes your $$ is so safe not even you can get it.

I doubt they can confiscate you box, but maybe they can?

[DasBoot]

2am, Sat. nite. No power. Bank is closed (indefinitely?). Zombies banging at the door. Your neighbor only will take cash for ammo.

What will you do. What will you do?

[TechnoViking]

The problem with that logic is when the "zombies come" the cash is just dirty green paper.

[126coupe]

Originally Posted by DasBoot

2am, Sat. nite. No power. Bank is closed (indefinitely?). Zombies banging at the door. Your neighbor only will take cash for ammo.

What will you do. What will you do?

Plenty of guns and ammo here

[competentone]

Originally Posted by Minkoff

heard it on the news, they are selling like crazy, people are stashing cash!
How about a safe deposit box? Idiots!

If the government reacts in a similar manner as it did during the Great Depression, "cash" in a safety deposit box will be subject to confiscation.

When the government and banking system inflated the paper note supply prior to the Great Depression, people redeeming their paper notes for gold coins first, actually got gold. Since there were more notes out than gold available to cover them, the banks collapsed and those trying to redeem their notes later, never got anything.

The government's reaction to the inflation of the money supply back then was to just confiscate the gold -- making it a felony for any U.S. citizen to own gold -- and force everyone to just use Federal Reserve Notes (which still had effective silver backing). One could not open a bank safety deposit box without a government official present to be sure that the box holder wasn't going to try to remove gold.

Our current fiat money system is actually a "paper backed" system. With the inflation (of the money supply) the government has been engaging in over the past decades, we will quickly reach a point, as the fraud is exposed and the system collapses, where even the $100-dollar bill will cost more to print than it will have purchasing power.

At that point, expect the government to attempt to ban all physical currency -- and anything that could be used as "currency" -- and put us on a completely electronic money system. (Which will mean virtually every aspect of every citizen's life could be monitored completely by the government -- there would be no privacy in any financial transaction.)

When the all-electronic money system is put in place, anything of value as a potential "currency" for an underground economy -- whether it be gold, silver, diamonds, old U.S. Notes -- will be subject to confiscation. Expect the same policy, used during the Great Depression; you won't be able to open your safe deposit box without a government official present to be certain that you are not hiding any "illegal currency."

The new "totalitarian regime" is being ushered in at a frightening fast pace. People like Paulson, Bernanke and Bush have exposed themselves as being some of the most evil men who have ever walked the face of this planet. With their recent actions, they are paving the way (and specifically financing the way) for tyrants to step into power and destroy the last remnants of freedom in our society.

[Porsche-O-Phile]

Originally Posted by Minkoff

I doubt they can confiscate you box, but maybe they can?

No but they can restrict their hours so you can never get your schit.

It's bad enough at most banks that they're open from only 10AM to 3PM or whatever. Thankfully I've done my banking at credit unions for years.

[Jim727]

Originally Posted by competentone

If the government reacts in a similar manner as it did during the Great Depression, "cash" in a safety deposit box will be subject to confiscation.

When the government and banking system inflated the paper note supply prior to the Great Depression, people redeeming their paper notes for gold coins first, actually got gold. Since there were more notes out than gold available to cover them, the banks collapsed and those trying to redeem their notes later, never got anything.

The government's reaction to the inflation of the money supply back then was to just confiscate the gold -- making it a felony for any U.S. citizen to own gold -- and force everyone to just use Federal Reserve Notes (which still had effective silver backing). One could not open a bank safety deposit box without a government official present to be sure that the box holder wasn't going to try to remove gold.

Our current fiat money system is actually a "paper backed" system. With the inflation (of the money supply) the government has been engaging in over the past decades, we will quickly reach a point, as the fraud is exposed and the system collapses, where even the $100-dollar bill will cost more to print than it will have purchasing power.

At that point, expect the government to attempt to ban all physical currency -- and anything that could be used as "currency" -- and put us on a completely electronic money system. (Which will mean virtually every aspect of every citizen's life could be monitored completely by the government -- there would be no privacy in any financial transaction.)

When the all-electronic money system is put in place, anything of value as a potential "currency" for an underground economy -- whether it be gold, silver, diamonds, old U.S. Notes -- will be subject to confiscation. Expect the same policy, used during the Great Depression; you won't be able to open your safe deposit box without a government official present to be certain that you are not hiding any "illegal currency."

The new "totalitarian regime" is being ushered in at a frightening fast pace. People like Paulson, Bernanke and Bush have exposed themselves as being some of the most evil men who have ever walked the face of this planet. With their recent actions, they are paving the way (and specifically financing the way) for tyrants to step into power and destroy the last remnants of freedom in our society.

Deja vu....

[Rot 911]

Our house was built back in 1926 and the owner had a wall safe built in. Still works!

[Porsche_monkey]

A reasonably good safe is cheap, accessible, and doesn't carry a monthly fee. I keep my will, some emergency cash (multiple currencies), and passports in mine.

There are lots of idiots out there, but owning a safe doesn't make you one of them.

[tabs]

COMP...Why just limit your rant to Bush and friends. Don't you think the Dems are in on this too? Frank, Dodd etall. All those Wall Street Bankers that walked with Billions are Dems. John Corzine (D) Govenator of NJ spent 60M USD of his own dinero to win a Senate seat...he is ex Goldman Sacs CEO....he wants to be PREZ now...

[NICKG]

aw crap my neighbor JUST put one (a 3x3 one )on the trash this morning ! can i file for a bailout for lost profits?

[NICKG]

Originally Posted by tabs

COMP...Why just limit your rant to Bush and friends. Don't you think the Dems are in on this too? Frank, Dodd etall. All those Wall Street Bankers that walked with Billions are Dems. John Corzine (D) Govenator of NJ spent 60M USD of his own dinero to win a Senate seat...he is ex Goldman Sacs CEO....he wants to be PREZ now...

TRUST ME that ain NEVER gonna happen..Corzine is not even gonna get re elected..his mismanagement and coruption plagued tenor will be over next year...

[charleskieffner]

Originally Posted by DasBoot

2am, Sat. nite. No power. Bank is closed (indefinitely?). Zombies banging at the door. Your neighbor only will take cash for ammo.

What will you do. What will you do?

that was good........................VERY GOOD!

[MRM]

Originally Posted by competentone

If the government reacts in a similar manner as it did during the Great Depression, "cash" in a safety deposit box will be subject to confiscation.

When the government and banking system inflated the paper note supply prior to the Great Depression, people redeeming their paper notes for gold coins first, actually got gold. Since there were more notes out than gold available to cover them, the banks collapsed and those trying to redeem their notes later, never got anything.

The government's reaction to the inflation of the money supply back then was to just confiscate the gold -- making it a felony for any U.S. citizen to own gold -- and force everyone to just use Federal Reserve Notes (which still had effective silver backing). One could not open a bank safety deposit box without a government official present to be sure that the box holder wasn't going to try to remove gold.

Our current fiat money system is actually a "paper backed" system. With the inflation (of the money supply) the government has been engaging in over the past decades, we will quickly reach a point, as the fraud is exposed and the system collapses, where even the $100-dollar bill will cost more to print than it will have purchasing power.

At that point, expect the government to attempt to ban all physical currency -- and anything that could be used as "currency" -- and put us on a completely electronic money system. (Which will mean virtually every aspect of every citizen's life could be monitored completely by the government -- there would be no privacy in any financial transaction.)

When the all-electronic money system is put in place, anything of value as a potential "currency" for an underground economy -- whether it be gold, silver, diamonds, old U.S. Notes -- will be subject to confiscation. Expect the same policy, used during the Great Depression; you won't be able to open your safe deposit box without a government official present to be certain that you are not hiding any "illegal currency."

The new "totalitarian regime" is being ushered in at a frightening fast pace. People like Paulson, Bernanke and Bush have exposed themselves as being some of the most evil men who have ever walked the face of this planet. With their recent actions, they are paving the way (and specifically financing the way) for tyrants to step into power and destroy the last remnants of freedom in our society.

There are nuggets of historical fact in this account, but it is largely incorrect. The US went off silver completely in 1900 in lieu of gold exclusively. The US suspended gold backing during WWi and again in about 1933, a good three years into the depression. After WWII the Bretton Woods conference linked all other currencies to the US Dollar. The dollar remained nominally backed by gold for foreign trade until 1972 when Nixon took the US off the gold standard completely. One of my professors said, but I don't remember reading it anywhere else, that de Gaulle was mad at the US for something and started demanding gold for Dollars. Nixon decided two could play that game and took us off the gold standard.

I have never heard of cash being confiscated or safe deposit boxes only being allowed to be opened with a government official present. I wouldn't know what kind of official would have that job. Maybe a bank regulator out of DC would be tasked to make a circuit through Oklahoma once a month to open safe deposit boxes? I don't think this is actually true. The banks colapsed because people pulled their money out of them to hoard the cash, not that they exchanged the cash for gold. The bank wouldn't be affected by exchanging for gold, the Feds would do that. The fact that the banks didn't have enough deposits to cover their liabilities caused the banks to fail, which caused people to make runs on the bank to withdraw their cash, which caused banks to fail, which caused runs on the bank. Banks couldn't raise cash to cover the runs because the banks' hard assets were illiquid, and their value crashed with the depression, leaving the banks under water. Kind of what is going on right now.

That being said, there are good reasons for having a safe at home. Important papers and documents that you would like to have access to quickly are best in a safe. Deeds and documents for your house, passports, birth certificates, etc., all need to be secure from a house fire or flood, but don't necessarily need to be in a safe deposit box. Wills should be kept at home and in a safe place like the county registrar's office. Safe deposit boxes usually are frozen until the estate is probated if the owner of the box dies. It's a bummer if the will is in the safe deposit box but you can't get at it. Unless the safe is bolted to the floor it won't deter thieves - they'll just carry it with them, so a good strongbox is best used to keep casual visitors from pilfering your stuff and protecting it from fire and flood.

[Burnin' oil]

Haven't you been listening? Banks are COLLAPSING. How are you going to find your safe deposit box in all the rubble?

[tabs]

Originally Posted by Burnin' oil

Haven't you been listening? Banks are COLLAPSING. How are you going to find your safe deposit box in all the rubble?

I'll get Barney Rubble to sort through the Rubble..that and maybe Fintstone?

[tabs]

Hey MRM...It was Ge Gaulle that wanted payment in Gold for USD in 1967, because he was pissed that the French and others were taking it in the shorts because of Vietnam. At the time the USD was pegged to ebing $35.00 an OZ and the the world price was around $100 an OZ.

By setting the price at 35.00 an OZ the USD was being kept artifically high, so it was in a sense a TAX on other countries that were holding USD. By taking the Gold DeGaulle could sell it on the market and get full value for the USD he was holding.

[Az911]

Originally Posted by Minkoff

I doubt they can confiscate you box, but maybe they can?

If their doors are closed waiting on the gov to come take over what are you going to do?