Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19

Warning: Function ereg() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 4

Warning: Function split() is deprecated in ..../includes/class_postbit.php(345) : eval()'d code on line 19
Safe Deposit Boxes
Page 1 of 12 12311 ... LastLast
Results 1 to 10 of 115

Thread: Safe Deposit Boxes

  1. #1
    Join Date
    Jul 2011
    Posts
    25

    Default Safe Deposit Boxes

    Can anybody direct me to evidence supporting the claim of Agents seizing the gold in a safe deposit box in 1933.

    I've read the claims from 1933 but XO-6102 doesn't make a single reference to safe deposit boxes, the seizure of, nor the claim that Agent's did in fact escort safe deposit box owners to inventory their contents.

    I did read on one site where this was a hoax based on the writing of a 1996 book on the Great Depression. Wikipedia remarks on this as a hoax, as does Snopes.com.

    I'm not saying I'm going to utilize a safe deposit box as storage but I would like the feedback on the validity of this claim. Heresay and "an old-timer told me" just isn't the caliber of evidence I buy into.
    Last edited by .jason; 14th August 2011 at 18:32.

  2. #2
    Join Date
    Jul 2011
    Location
    Albion
    Posts
    47

    Default

    Not proof but interesting article about it.
    http://www.silverbearcafe.com/privat.../handsoff.html

  3. #3
    Join Date
    Jul 2011
    Posts
    25

    Default

    Interesting, yes. Conclusive, nope, and that's the exact type of article I'm questioning. There are a lot of documents and articles claiming this happened, but not one of them cite or footnote to anything specific. Given the magnitude and expense of a complete continental US safe deposit box raid surely somebody recorded the process. It would be just as easy for me to construe a presidential mandate to mean one thing. It's my interpretation. I suspect this is what happened here.

  4. #4
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    10,111

    Default

    Quote Originally Posted by .jason View Post
    Can anybody direct me to evidence supporting the claim of Agents seizing the gold in a safe deposit box in 1933.

    I've read the claims from 1933 but XO-6102 doesn't make a single reference to safe deposit boxes, the seizure of, nor the claim that Agent's did in fact escort safe deposit box owners to inventory their contents.

    I did read on one site where this was a hoax based on the writing of a 1996 book on the Great Depression. Wikipedia remarks on this as a hoax, as does Snopes.com.

    I'm not saying I'm going to utilize a safe deposit box as storage but I would like the feedback on the validity of this claim. Heresay and "an old-timer told me" just isn't the caliber of evidence I buy into.

    This is from Wikipedia:

    The myth of a safe deposit box seizures order
    According to a folk rumor on the INTERNET, President Roosevelt ordered all the safe deposit boxes in the country seized and searched for gold by an I.R.S. official. A typical example reads:
    By Executive Order Of The President of The United States, March 9, 1933.By virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, in which Congress declared that a serious emergency exists, I as President, do declare that the national emergency still exists; that the continued private hoarding of gold and silver by subjects of the United States poses a grave threat to the peace, equal justice, and well-being of the United States; and that appropriate measures must be taken immediately to protect the interests of our people.
    Therefore, pursuant to the above authority, I hereby proclaim that such gold and silver holdings are prohibited, and that all such coin, bullion or other possessions of gold and silver be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government.
    All safe deposit boxes in banks or financial institutions have been sealed, pending action in the due course of the law. All sales or purchases or movements of such gold and silver within the borders of the United States and its territories and all foreign exchange transactions or movements of such metals across the border are hereby prohibited.
    Your possession of these proscribed metals and/or your maintenance of a safe deposit box to store them is known by the government from bank and insurance records. Therefore, be advised that your vault box must remain sealed, and may only be opened in the presence of an agent of the Internal Revenue Service.
    By lawful order given this day, the President of the United States.
    Franklin Roosevelt – March 9, 1933
    Examination of the actual Executive Order as issued shows that this text never appears in it. In fact, safe deposit boxes held by individuals were not forcibly searched or seized under the order, and the few prosecutions that occurred in the 1930s for gold hoarding were executed under different statutes. One of the few such cases occurred in 1936 when the safe deposit box of Zelik Josefowitz, who was not a U.S. citizen, containing over 10,000 troy ounces (310 kg) of gold was seized with a search warrant as part of a tax evasion prosecution.[11] In 1933 approximately 500 tonnes of gold were turned in to the Treasury "voluntarily" at the exchange rate of $20.67 per troy ounce.[12]
    The U.S. Treasury came into possession of a large number of safe deposit boxes due to bank failures. During the 1930s over 3,000 banks failed and the contents of their safe deposit boxes were remanded to the custody of the Treasury. If no one claimed the box it remained in the possession of the Treasury. As of October, 1981, there were 1605 cardboard cartons in the basement of the Treasury each containing the contents of an unclaimed safe deposit box.[13]


    When you try to find out how many banks there are in the US, you come up with a number just short of 9,000. That can not be the total number of individual branch offices as I have 111 total branch offices in my county alone. Which would indicate there are probably at least 1,000 branch offices in the metro Atlanta area. So the actual number of individual branch offices must be well into the six figure range. If you take a couple hundred thousand banks that average only 500 boxes each, that would amount to 100 million safety deposit boxes. Sounds like far too many, but there are a lot of empty boxes in every bank. All of my banks give a free small box for each checking account for citizens over 50.

    The point is, the banks have no way of opening any of these boxes without the owners presence, without a locksmith drilling out the lock and replacing it. Since it's estimated that only 1% of Americans are stacker of PM and there are enough boxes for 30% of the population. It would be like searching for a needle in a hay stack and at great expense. Top that off with the fact that so many stacker's do not trust stacking their PM anywhere but at home and the government knows it.

    So, what is the likelihood that the government would station 200,000 federal employees at banks all over America to safe guard these boxes and for how long?

    Are they going to violate everyone's privacy rights by forcing them to open their boxes for inspection looking for PM and then what happens when they find other incriminating evidence. You just run into a whole lot of different constitutional laws in one fell swoop here and that's probably why they didn't do it back in 1933.

    The bottom line is, it wasn't done in the past and it is less likely to happen in the future, if for no other reason than pure logistics and costs involved.

    If you have a small amount of PM, hide them at home. If you have a large amount of PM, then you may very well want to find an alternative hiding location and multiple safety deposit boxes is one safe alternative. I think a bullion storage vault would be less safe, as that is one place the government wouldn't even have to blindly check, just force the owner to hand over the names and contents in their vault. Whereas safety deposit box contents are secret.

    Forget about what we as stacker's might complain about, think about tens of millions of Americans raising hell about their rights being violated.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  5. #5
    Join Date
    Dec 2008
    Location
    Washington
    Posts
    395

    Default Does it matter?

    The government can seize precious metals and guns from safe deposit boxes if they so wish.

    The question is do you trust the government and the banks not to rob you?

  6. #6
    Join Date
    Jul 2011
    Posts
    25

    Default

    Quote Originally Posted by aequitas View Post
    The government can seize precious metals and guns from safe deposit boxes if they so wish.
    Yeah it does matter. Can you legitimately prove your statement?

  7. #7
    Join Date
    Dec 2008
    Location
    Washington
    Posts
    395

    Default

    Only a fool needs evidence that governments are capable of any crime.

    Prove to me that governments and banks are honest.

  8. #8
    Join Date
    Jul 2011
    Posts
    25

    Default

    Quote Originally Posted by aequitas View Post
    Only a fool needs evidence that governments are capable of any crime.

    Prove to me that governments and banks are honest.
    Nice contribution, douche. Compelling. My point is there is no evidence this happens or ever did in the 30's. I'm curious, nothing more. I still am.

  9. #9
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    10,111

    Default

    Quote Originally Posted by .jason View Post
    Nice contribution, douche. Compelling. My point is there is no evidence this happens or ever did in the 30's. I'm curious, nothing more. I still am.

    A final thought on keeping your PM is a safety deposit box. I think most of us would know enough that the government was in serious trouble with the dollar or about to default with no other options. We would also know that other governments around the world were putting pressure on the US to back their currency with PM, since they are. We would also know if there is a Silver shortage. Any real signs of the government being in danger, would be a clue to remove your PM from the safety deposit boxes just to be safe. And I still believe there are far too many safe deposit boxes with far too few containing PM to make it worth their while to go after. Besides all that, for some of us, trying to hide our stash at home is insane. Risking hundreds of thousands of dollars that is not insured, because of a mistrust. What about thieves, a fire or tornado. Is anyone actually dumb enough to bury their stash in their backyard where if can be found with a simple metal detector? If someone breaks into your house and puts a knife to your child's throat, will your wife be able to say, no we don't have any hidden safes. It's one thing to be convincing when it's the truth under stress, but try and be convincing when it's not and your child is in danger and your scared half to death. I'm not talking about a SHTF situation here, I'm talking about this Friday night!
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  10. #10
    Join Date
    Dec 2008
    Location
    Washington
    Posts
    395

    Default

    The IRS can came after your safety deposit box if they have a judgment against you. In a currency collapse the government could declare an emergency and start seizing assets from dissidents or known hoarders of gold and silver.

    Now do you understand. It doesnt matter that it didnt happen in 1933 because 2011 is a totally different animal and a totally different set of people in government

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •