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Safety Deposit Boxes and Other Bank Oxymorons

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The catalyst for this RANT is reader concerns regarding this passage from Jim Willie’s latest newsletter (Hat Trick Letter); of the alleged THEFT of gold coins from an American safety deposit box – and Patriot Act approval of such acts…

THE CIA CONFISCATION HAS BEGUN AT BANK SAFETY DEPOSIT BOXES.  THE REPORTED SEIZURES ARE NOT YET WIDESPREAD; BUT EXPECT THEM TO BE SO.  THE PATRIOT ACT LEGALLY PERMITS THE THEFTS, WHICH WILL PROVIDE ADDITIONAL GOLD SUPPLY FOR WALL STREET BANKER ROBBER BARONS.

A Steve Quayle subscriber reported the two dozen gold Krugerrands he kept stored in his safety deposit box have been taken, in a bold swipe.  The Fifth Third Bank is located in Cincinnati, the site of the sanctioned theft.  After the confiscation, the bank manager sheepishly informed the man that a CIA agent was the culprit who cleaned out his supply of gold coins, but all the stored US dollar bills were left untouched in the safety box.  Recall broad warnings concerning the rules delineated within the Patriot Act, which forbids usage of bank safety boxes to hold coins, jewelry, or any metal items of wealth. Only documents, contracts, papers, photographs, and other non-metallic objects like a treasured scarf are permitted. They have finally struck, thefts sponsored by the US Government and its security agency overseers.  Expect the location of thefts to grow much wider, with more prevalent reports.

See the Silver Doctors article below:

Gold Confiscation Begins? Report of 2 Dozen Gold Krugerrands Stolen From Safety Deposit Box by CIA

I cannot confirm or deny if the government actually has such rights; but I – and MANY others – suspect so.  Thus, my initial response to the half-dozen or so emails I received was thus…

On a daily basis, Miles Franklin’s writers come across dozens of articles.  Nearly all are “confirmable,” but sometimes not.  Everything on the internet is not true, but David, Bill Holter and I are experts at separating the wheat from the chaff.

I, too, came across the Willie article stating that the government has the right to search and seize safety deposit boxes under the Patriot Act.  It certainly makes sense, but I am not about to read the 57,000 word Act to “confirm” it.

Irrespective, it matters not; as there is enough vague language in such acts to enable the government to do essentially ANYTHING it wants; which is EXACTLY how they were PURPOSELY created.  For example, FBAR requires disclosure of holdings in foreign financial institutions – without defining what “foreign financial institutions” are.

Given what just occurred in Cyprus; where governments essentially STOLE customer bank accounts; do you really believe your safety deposit box is safe?  I have been SCREAMING for people to take ALL assets out of banks for years; which is EXACTLY what I have done personally.

I am still not sure of the Patriot Act’s EXACT language in this regard – and may never be exposed to it (please contact me if you have read it!).  However, just this weekend, another article was written on the topic…

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!

…referencing yet another from 2011; so clearly, there are numerous others that believe it so.  Again, whether or not it is matters not; as NOTHING will be 100% safe from the government’s clutches as FINANCIAL ARMAGEDDON unfolds…

Do not use Safety Deposit Boxes – January 2011

As for bank accounts themselves – which for generations have been considered the “safest” way to store savings; clearly, Cyprus changes that misguided perception FOREVER…

Deal Reached for Cyprus – 40% of deposits will be stolen. Banks doing it without Parliament vote

particularly as the deal’s architect announced “bail-ins” are the new EU “template”…

Why Mr. Dijsselbloem is Right and Cyprus is a Template for the Eurozone

Bank deposits were STOLEN from citizens with no Parliamentary approval; and in return, given WORTHLESS bank “equity”…

Big depositors in Bank of Cyprus to get 37.5% equity

…which should TERRIFY all Western citizens; particularly as a “joint paper” by the U.S. Federal Deposit Insurance Corporation (FDIC) and the Bank of England endorsed just such THEFT; dated December 10th, 2012…

Think Your Money is Safe? Think Again: The Confiscation Scheme Planned for US and UK Depositors

In other words, whether your assets are held in banks, security deposit boxes, or any aspect of “the system,” they are in GRAVE DANGER…

Sinclair – you are “out of the system” if

…and thus, WHAT ARE YOU WAITING FOR?…

PROTECT YOURSELF, and do it NOW!

Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.

Disclaimer: The opinions expressed above do not necessarily represent the views of Miles Franklin Ltd.  We urge our readers to do their own due diligence before making decisions on where to store their metals.  Please refer to our full disclaimer.

 

 

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