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Will banks have government oversight even to the control of our safety deposit boxes in a national emergency?

April 25, 2011 by  

Dear Bob,

I’m fascinated by your assertions that the banks will have government oversight even to the control of our safety deposit boxes in a national emergency. But where can I validate that information. I checked on snopes and they claim just the opposite. http://www.snopes.com/politics/business/safedeposit.asp

Please let me know how I can validate who has the correct information.

Thanks,
Tom Webber

Dear Tom Webber,

There is precedence. In 1933 the Congress, spearheaded by FDR, passed the Emergency Banking Relief Act, which instituted a banking holiday. While the banks were shut down the Federal government rifled the safe deposit boxes of Americans. This should serve as a reminder to keep your valuables in a safe location in or near your home rather than in a safe deposit box.

For another threat, consider that the USA Patriot Act allows the government to seize any bank account for “probable cause” of being linked to any type of crime. Who determines that probable cause? The same government that gets to seize it, of course.

Best wishes,
Bob

P.S. The Snopes.com link you included deals only with an unverified story that raced across the Internet. It does not pertain to your question. Plus, Snopes is about as reliable a source as the corporate-controlled mainstream media. In other words: It’s not reliable at all.

Best Wishes,
Bob

Bob Livingston

is an ultra-conservative American who has been writing a newsletter since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • Michael J.

    Snopes? Give me a break! Asking Snopes is like asking the fox if the chickens are all safe.

    And common sense has hopefully forwarned all who possess it, that the only thing you should place in a safe deposit box is fiat currency because it will soon be worthless anyway.

  • Smilee

    If I am not mistaken they cannot access any safety deposit box without a search warrant and that requires probable cause determined b a judge. It was this way before the patriot act was passed and I believe it still is.

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