Will banks have government oversight even to the control of our safety deposit boxes in a national emergency?
April 25, 2011 by Bob Livingston
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.
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.
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.