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safe deposit box... safe?

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Valued Member
United States
206 Posts
 Posted 06/08/2008  12:23 am Show Profile Bookmark this topic Add photoeric21 to your friends list Get a Link to this Message

If the US Gov't were to ever call in all stocks of gold or silver like they did in the 1930s, would coins in a safety deposit box at an FDIC bank be subject to possession?

In other words, could our safety deposit boxes be accessed and searched for bullion?

I don't really expect this to happen but it does raise a few concerns...

Pillar of the Community
United States
1711 Posts
 Posted 06/08/2008  4:42 pm  Show Profile Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
This is the Bush administration US government you're referring to, right? The one that is an uncontrolled juggernaut? The one that does what it wants and gets constitutional clarification afterwards, then keeps on doing what it wants?

Don't put it under your mattress or in your gun safe. They'll look there.

Just remember - I'm from the government, I'm here to help.
Valued Member
United States
354 Posts
 Posted 06/08/2008  6:40 pm  Show Profile Bookmark this reply Add mmerc20 to your friends list Get a Link to this Reply
I work for the Government and I need you to send me all of your gold and silver bullion (if you have any platinum, send that too). LOL

It seems to me in this day and age, the odds of that happening are really slim. It's just like the government trying to take all the guns (I'm not trying to get into a political argument), it would be just too difficult and people are good at hiding things. At least I know I am!

Mike
Valued Member
United States
68 Posts
 Posted 06/08/2008  9:33 pm  Show Profile Bookmark this reply Add small change to your friends list Get a Link to this Reply
I thought it was just gold bullion not collector coins or any silver. I remember during the savings and loan crisis back in the 80's that the banks were closed for a few days so no access was possible to your safety deposit box but later it was. I tend to spread my coins around when storing them, some at home some in a safety box, etc.
Valued Member
United States
354 Posts
 Posted 06/08/2008  9:59 pm  Show Profile Bookmark this reply Add mmerc20 to your friends list Get a Link to this Reply
Maybe I am just too new to the hobby, but does the government actually have the power to get away with something like that these days? I guess I'm ok for now since my goods are in a hidden fireproof safe.

Mike
Pillar of the Community
United States
666 Posts
 Posted 06/09/2008  12:52 am  Show Profile Bookmark this reply Add springcypress to your friends list Get a Link to this Reply
This link might help with your concerns...

http://foreignborn.com/self-help/ba...sd_boxes.htm
Bedrock of the Community
United States
13042 Posts
 Posted 06/09/2008  8:21 pm  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Just stop and think. We all know the US government is large but do you actually think there are enough FBI, CIA or whatever people in the government to start searching all the safe deposit boxes in this country? Do you realize there are banks in some areas that the government probably couldn't even find? Imagine thousands and thousands of banks and other organizations with such boxes. Each one has maybe several hundred such boxes or at least the 5 banks I deal with does. One has, I would guess over a thousand such safe deposit boxes. If the government decided to start searching all of them, the government's employees grandchildren would still be doing such a search. And then there is the problem of the other stupid things they pretend to do with our tax money.
just carl
Pillar of the Community
United States
5970 Posts
 Posted 06/10/2008  11:25 am  Show Profile Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
I suppose that no one saw the govt. "freezing their bank accounts" back in the 20's & 30's either, and refusing them access to their own money even for food/rent/clothes, etc,etc.........had they saw that coming and thought it was even remotely possible/legal/or imminent, they'd have emptied out their money beforehand.....
But, having said that.....the idea that this would happen today, for bullion or anything else, seems really about zero percent chance......The idea that the U.S. Govt. would fall into such hard times to need to do that.....
China owns a good portion of our debt....and we're "trillions in debt"......so why wouldn't this happen now ? or Friday ?........the fact that it doesn't, hasn't, and isn't is a good indicator that your "bullion" is going to be safe !!.......Were something imminent with the Govt. .........they would NOT keep selling "bullion" to us and anyone else in the world who wants it.......there would likely be many "indicators" beforehand about a powerful move like this........I think we're safe for now!
Bedrock of the Community
United States
13042 Posts
 Posted 06/10/2008  11:49 am  Show Profile Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Here is just one more thing to contemplate. Many, many banks and loan organizations today are owned and operated by foreign governments. For example I used to have an account in a bank called Dai-Ichi-kangyo. Try imagining the intercontenental ramafacations if our government said they would search the safe deposit boxes in that bank. It is one of the largest banks in the world you know. Same with banks from numersous other countries and we just don't need to make more enemies there by saying we are going to search your place. No the days of government takeover of the banks is a thing of the past.
just carl
Pillar of the Community
United States
1384 Posts
 Posted 06/12/2008  11:59 am  Show Profile Bookmark this reply Add wwhitman to your friends list Get a Link to this Reply
Just remember what Will Rogers said:
"No one is safe while Congress is in session!"

If the government needs money, they will increase TAXES and force you to sell your collection.
OR
They will just print more of it! And force you to sell your collection for the 'devalued' dollar.
Pillar of the Community
United States
1711 Posts
 Posted 06/12/2008  3:18 pm  Show Profile Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
Are youse guys on drugs? The government already has the framework in place. The government doesn't do it, they just make rules requiring the bank to do it. And they keep shortening the time limits on how long your 'safe' deposit box sits idle before the bank has to drill it and turn the contents over to the state government.

Difficult? My fellow Americans, they are just one step away.

Here's where you can go to try and reclaim your property.

http://www.naupa.org/
Valued Member
United States
245 Posts
 Posted 06/12/2008  3:26 pm  Show Profile Bookmark this reply Add JohnAP to your friends list Get a Link to this Reply
AHEM....

I actualy DO work for the Federal Government!

Valued Member
United States
206 Posts
 Posted 06/12/2008  3:35 pm  Show Profile Bookmark this reply Add photoeric21 to your friends list Get a Link to this Reply

Quote:
They will just print more of it! And force you to sell your collection for the 'devalued' dollar.


eaglefoot makes a good point... sad sad
Valued Member
United States
206 Posts
 Posted 06/12/2008  3:37 pm  Show Profile Bookmark this reply Add photoeric21 to your friends list Get a Link to this Reply
blast!

I meant wwhitman makes a good point
I should pay attention to the names of the poster instead of the avatar

Is it Friday yet?
Pillar of the Community
United States
1703 Posts
 Posted 06/12/2008  3:54 pm  Show Profile Bookmark this reply Add TLS5933 to your friends list Get a Link to this Reply
In most instances the government cannot touch your safety deposit box but there is one situation in which they CAN. If a "National Emergency Act" is invoked and FEMA then overules all regular government rules and regulations.

If FEMA then decides to "redistribute the wealth" they can open all safety deposit boxes and use the contents as they see fit. Not saying they would,but they have that option.

Think it can't happen?

I put nothing in a safety deposit box. Not in these times.
Pillar of the Community
United States
1711 Posts
 Posted 06/13/2008  04:07 am  Show Profile Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply

Quote:
AHEM....

I actualy DO work for the Federal Government!


Well, knock it off, you're making everybody else look bad.

Get a mug of coffee and a clipboard and wander around looking busy.
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