Last week we reported that a Citigroup economist said that we need to abolish currency like the U.S. dollar, or at the very least, tax those who possess it.
The whole idea made no sense, unless of course you are a big government stooge whose end-game is complete control over peoples’ assets and a desire to track the purchasing activities of consumers.
Now, a new report from Paul Joseph Watson at Infowars.com suggests that this may well be the goal. It turns out that it’s not just Citigroup who wants cash to be banned.
Some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow cash to be stored in safety deposit boxes.
The content of a post over on the Collectors Universe message board suggests that we may be about to see a resurgence of the old fashioned method of stuffing bank notes under the mattress.
My mother has a SDB at a Chase branch with one of my siblings as co-signers. Last week they got a letter outlining a number of changes to the lease agreement, including this:
“Contents of the box: You agree not to store any cash or coins other than those found to have a collectible value.”
Another change is that signatures will no longer be accepted to access the box. The next time they go in they have to bring two forms of ID and they will be issued a four-digit pin number that will be used to access the box then and in the future.
The letter, entitled “Updated Safe Deposit Box Lease Agreement,” was sent out to customers at the beginning of the month.
“Hide your wallets, the banksters are on the move,” warns the Economic Policy Journal.
The reasons for this new policy change should be clear and should come as no surprise. If you can’t keep your cash or precious metals in a safe deposit box, what are you supposed to do with it?
The answer is simple: You’re not supposed to have cash or gold. You’re supposed to keep your money in a zero-interest bearing account with your financial institution. Either that or stuff it under your mattress.
And this is where the scam comes in.
First, bank tellers have now been ordered by the government to report on individuals making suspicious withdrawals of cash so that police can then investigate and seize the funds.
Now, whenever banks suspect something ‘suspicious’ is going on, they want them to pick up the phone and call the cops:
“[W]e encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem, who may be able to seize the funds, initiate an investigation, or take other proactive steps.”
So what exactly constitutes ‘suspicious activity’? Basically anything.
Second, if they can’t seize your money for lack of suspicious activity, they’ll take a different route. You may think the money you have on deposit is insured by the FDIC, or that it is actually your money to begin with. But the cold hard fact is that once you deposit money at a financial institution it no longer belongs to you.
And that’s why asset manager Ann Barnhardt recently warned that Americans should start taking their money out of banks because new legislation and regulations have ensured that all legal bank deposit protections are now officially gone.
The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.
… all customer funds in the United States are now the legal property of JP Morgan, Goldman Sachs, BNYM, or whichever megabank is the counterparty on the loans the FCM or depository institution takes out in order to fund its mega-levered proprietary in-house trading desks.
Now consider the implications of these new policies within the context of what JP Morgan Chase CEO Jamie Dimon said just a couple of weeks ago, when he warned that an even more volatile crisis than what we experienced in 2008 is on the horizon:
Some things never change — there will be another crisis, and its impact will be felt by the financial market.
The trigger to the next crisis will not be the same as the trigger to the last one – but there will be another crisis.
So what we have here is the CEO of the very company that restricts your safe deposit holdings and wants you to put your financial assets into their bank deposit system telling you that there will be another crisis.
Of course, a majority of Americans believe the economy is doing good and over two-thirds of the country believes things will be even better a year now.
If you think things are great and the warning signs are nothing but fear mongering than we urge you to put everything you own into real estate, tech stocks and bank deposits. Because, as we’re sure you’ve been told, prices can only go up from here.
If, however, you have a feeling that something just isn’t right, then you might consider making plans to prepare for the financial crisis Jamie Dimon says is coming.
How safe is your safe deposit box?
This is Why You Need Your Money Out of the Bank: Freeze Outs, Glitches and Holds Increasingly Locking Customers Out of Funds
Government Orders Bank Tellers To Alert Police About Your Cash Withdrawals: So They Can “Seize the Funds… Investigate”
And silver getting hammered down with all this upbeat economic news…
Still waiting for $5.
My stock answer would be stick it in your ass,
I don’t need no stinkin’ banks.
I just USE my bank for the free checking account with the free debit card,,,
Very funny KF. Had to laugh out loud! 🙂
On another note Cellar Spider, ten dollar bills in number ten cans seems to be sheer genius, considering.
Just saying. 🙂
“Banned: Chase Bank Says You Can No Longer Store Cash or Precious Metals In Your Safe Deposit Box”
News Flash: Who in their right mind would store cash or precious metals in a government managed “Safe Deposit Box”???
Q: “If you can’t keep your cash or precious metals in a safe deposit box, what are you supposed to do with it?”
A: “…stuff it under your mattress.”
YMWW, good to see you back. MY answer to your question is buy a safe for your home and keep your money in it. Hide your combination and NEVER give out that combination to ANYONE.
I agree Braveheart. Buy a combination safe, install it in a wall behind a painting, or under the carpet in the master bedroom closet where it is sure to be found. Then put a little cash, a little gold and silver in the safe too …..
But bury the bulk of your cash, gold, and silver in the backyard. 🙂
DK–you nailed it….. Buy a safe that is fireproof to high temps, put about 10% of your cash and PM’s in it and then take the other 90% and hide it, bury it etc..
Whether it is govt thugs or gangland thugs –when you reluctantly open the safe and allow them to walk away with your stash–you won’t be wiped out.
PS: it is actually kind of fun building hiding places in your home whether it is false panels, false ductwork, removable floorboards, access to voids between cabinets or an x-ray proof area within a wall– get creative and don’t forget to make them x-ray or ultrasound imaging proof. And yes, a buried stash that you can stop and dig up on your way bugging out is a good idea but seal the PVC well and also have a way to open them up.
Javelin: Yes have a way to open them up because PVC caps fit pretty snug and will tighten up over time.
If you seal your cash in a plastic bag throw in an O2 eater, then drop it into the pvc pipe and cap it.
The top cap should be greased or oiled to allow easy removal; otherwise they can bond pretty tight.
So I have heard. 🙂
A good backhoe helps.
I would still rather have my cash in a savings account gaining interest than under my mattress or a safe deposit box gaining nothing.
You should have 2 safes! One poorly “hidden” with a couple hundred, and the real one with your valuables and important documents, that is hidden in plain sight or not in the premises. Altered copies (fake social security numbers, altered VIN numbers for vehicles owned and phony pass words, etc.) of your important documents should also be in the first mentioned safe to make it look like that is “the ONLY safe” in the house. The cash involved is not what a thief would consider most valuable; it’s the personal information they would use in an attempt to steal your identity. In short: a small amount of cash and all personal information to be totally corrupted to thwart the intended purpose of the theft.
What do you do with it……..tell them to stick it in their ass and go to another bank…that is if I had any extra cash or precious metals to store…so, in my case, Ima goin’ to tell them to stick it in their ass!!!!!!!
They are probably trying to be upfront that they can’t be responsible for contents of safe deposit boxes.
I am a “watch list” 9-11 Truth Activist that has been targeted for Homeland Security Political Targeting Operations.
Their has been at least one out of court settlement in Washington State from Homeland Security Agencies involved in Crimes against Citizens.
Homeland Security Personnel have burglarized and vandalized people In Washington State, including myself, and they also burglarized my safe deposit box in Washington. They have back-doors built into all the security available to Americans.
They have been rewarding and promoting military special ops as well as CIA and Military from black sites and torture / detention site for years into Homeland Security and Government Agencies.
They operate ABOVE THE LAW and even poisoned my cat from one incident and tortured him on another occasion while I was out of the home.
We have WORSE CRIMINALS IN THE GOVERNMENT AND HOMELAND SECURITY AGENCIES THAN MOST OF THE PEOPLE IN PRISONS AND JAILS…… BACK-DOORS IN THE PROGRAMMING OF ELECTION MACHINES AND BALLOT COUNTING MACHINES KEEP THE CRIMINAL GOVERNMENT POLITICIANS IN OFFICE AS WELL…..
Watch KAY GRIGGS YOU TUBE VIDEOS, she was a military targeted wife of a high ranking officer involved in Criminal Covert Operations connected to military and government Secret Societies — The Government, Military and Homeland Security Agencies are just run like a big organized crime syndicate and terrorist organization now.
My advise to everyone now is to leave the country while you still can.
Actually, the notice says nothing about precious metals. Silver dollars, American eagles, Canadian Maples and even bullion ounces are collectible, so they aren’t banned.
Better than a mattress:
JQP, spot on, but I use a Sentry brand safe with the old combination dial lock. Those electronic locks have circuits that can be fried by an EMP.
At considerable cost savings, some vendors will take good, but inexpensive, safes and upgrade them nearly to the level of high end safes.
I watched that with much interest.
I have a rifle, a shot gun and a pistol, all together worth much less then a decent safe.
I was thinking you could surround the sides and top of the safe with cribbed 2×4’s, making it very difficult to cut into the side with a torch, bolt the sucker in and you have some nice protection.
what about against people like me who would use nitric acid to corrode the metals on your safe or hydrogen flouric acid to melt your windows or burn wood. Your gun is not useful against chemical weapons. I can have everyone in the house dead within an hour without them feeling a thing.
Brings back memories doesnt it,
Memories from a much better era.
Which one of you wise guys sneaked into my bedroom and took that picture?????????
“stuffing bank notes”
Those are not bank notes, they are Federal Reserve Notes and you should know the difference.
I hope those ten dollar bills you are saving, DK, are VERY brand new because once currency collapses you don’t want anything dirty touching your butt when you run out of toilet paper and cant buy it anymore.
Tell me, how much does the government pay you to obfuscate, deceive, and deflect others from the truth as you’ve been doing over and over again here with this ten dollar nonsense?
Do you really think your chipper attitude and Gomer Pyle golleee tone persuades the majority of us, if any of us at all?
You are bright enough to know that stacking silver coinage will retain value whereas piling (ten dollar) paper bills is useless and totally without value.
Now, if I’m wrong about your employer, you are in denial about the already begun economic collapse. Do some research and read Jim Willie and Jim Rickards.
If I am correct, consider yourself unmasked. Again.
And one last thing: anyone who witnesses to the truth doesn’t need to wear a mask.
– the Lone Ranger
Actually, Lone Ranger, there isn’t just one SHTF possibility. There are MANY and in some of them, US$ will retain some value for a period of time and perhaps an extended one at that. When the bank holiday comes and the ATMs are turned off but the entire system hasn’t died, yes, cash WILL be of use for anyone needing gasoline or any other useful item that is sold. Merchants will accept cash because they always have.
Cyprus was a good example of one kind of SHTF. Those who had some cash squirreled away came through that just fine. Those who didn’t suffered some pain. Why suffer when there is no need to do so with a bit of planning?
That said, having ALL of one’s money in cash can also be a problem. It is possible to reach a good compromise wherein a balanced approach to wealth is reached. Having cash, gold and silver, and some trade goods makes a lot of sense, IMO.
“And one last thing: anyone who witnesses to the truth doesn’t need to wear a mask.” – the Lone Ranger
LMAO!!!! I love the irony!!! 🙂
BTW, one of the reasons Chase and other banks may be moving to eliminate cash and precious metals from SDB MAY be due to liability concerns on their insurance policies.
Note that in some cases they may be self insured and either way they could be on the hook for hundreds of millions of dollars in losses if the SHTF.
Consider the recent robbery where thieves broke into SDB and stole hundreds of millions of dollars worth of cash, gold, and jewelry.
Someone is going to sue BIG TIME for the loss of their property from a “secure facility”. A stitch in nine …. to coin a phrase. 🙂
LR: I read Jim Willie and Jim Rickards.
Willie is a rummy living offshore who has been crying the death of the dollar, hyperinflation, and the collapse of the American economy since at least 2009. Not a great track record that I can see and I put him in the same category as Dave Hodges.
Rickards has credibility and I do believe that we are looking at a long term depression in America. That depression will be deflationary and those who have dollars will prosper. 🙂
Kula, I only keep enough money in my account for some bills and some occasional online shopping. The rest of it I keep in my own “safe deposit box” at home [private banking]. i set my own terms to access that ‘safe deposit box’. I don’t need a key or to show any stinking ID to anyone. I dial the combination and WALLA; I take out what I need and secure it. If my bank starts giving me any trouble, I’ll just close my account. Banks can kiss my ass.
shut ’em DOWN, then….to bad most americans are toooo stupid to buy things without credit…gimmee gimmee gimmee!…i want it NOW!….shut ’em down….can’t be to soon, if you ask ME……and who’s benefiting who, anyway? didn’t we bail those muhfugguhs out to the tune of TRILLIONS just a minute ago?
We sure did, BCOD. But the worst part of that is that nothing was really fixed by all that “free” money and no real lessons were learned, so… we’re gonna get to do it ALL over again at some point. 🙁
and like i tell my younguns…”when you IGNORE a problem, it will just be WORSE when it comes time to accept your medicine”…..in this case, the medicine shall be applied with copious amount of STEROIDS.
Sounds like an opportunity for a private company to start a safety deposit business. Screw the big banks!!!
tried that in Las vegas and the place got robbed twice
first time not bad few grand
second time big hit AND metro found drugs i think the owner is still waiting for day light to reach him in his cell
The idea has been tried but the feds step in and almost always shut down any operation because of drugs etc
also working girls hide there money and the goons dont like that
skittle shittin unicorn
SSU, good to see you back.
Are you talking about the 24/7 Vault company that did not take customers’ names, just did an iris scan (and payment) for access? The owner, oy veh, said that many ex-wives and alphabet soup functionaries were frustrated because he couldn’t accept any papers or warrants because he didn’t know his customers’ names.
If so, the owner made a big point of saying that drug dogs sniffed the vaults weekly and, if the narc dogs alerted, that box/safe was drilled and handed to the LVPD. Interesting marketing, but it smelled like a scam to rip off the boxes.
LOL, Don’t hold your breath…..unless the COMEX is defaulting and has to pay up in USD….by then physical will have become scarce.
Silver may have bottomed. The last three end of day lows have been higher than the previous ones.
You’ll wait a long time to see $5 silver again and probably never will.
Anyone that uses a bank box is bent anyway.
Townsaver, I hope silver doesn’t go to $5.00 an once, because I’m afraid of what I’ll do to earn enough money to load up on it.
You will be waiting a long, long time….
That could be a LONG wait, since $5 an oz. is WELL below the mining cost of silver, even as a by-product of gold, zinc, and lead mining. Instead, why not buy regularly in small amounts? That will add up to a respectable stack over time and will average out the price moves.
Nice stash of cash underneath the matress. Might a well put them together with magic tape and save the empty rolls of toilet paper. Thats what its now worth. When people see that thier money is not worth a crap even as toilet paper, then things will go ape crap. They dont call the system SWIFT for no reason. It will be a swift transition and the money will be gone swiftly.
Really Hout/ etc..” empty rolls of toilet paper. Thats what its now worth”
Where do you live?
That wad of paper would buy me a great deal of things TODAY!
Maybe even pay off my sons property.
Use it while you got it, last time I looked, oh, five minutes ago, paper $ was still being used for gasoline and food purchases.
I believe you actually meant it won’t be worth anything in some future time. Who is to say what day that will be?
How long have we been talking about this? Years, decades.
Is there any thing that is actually new to say?
We know on this sight at least, who has what kind of guns and the mental attitude each has to plan to use them. Others go on about how they are set up for this and that thing.
I am tending towards Kulafarmers thoughts these days.
Disasters can be planned around. But I no longer want to re-build squat!
Yes, I am not of the high caliber that many of you folks aspire to.
Call it old age, or realism.
Okay, enough distraction, back to my steady, livable wage job now.
Well ill take all the worthless 100$ bills off your hands,
Mike [email protected]
666 Mike wizowski way
I tried that but the clerk at the postoffice counter told me I can’t mail any cash or coins…
That’s birdseed, it’ perfectly legal. Package it securely and use signature confirmation or insured registered post.
I got that funny look from my small-town postmistress, over a box I received that rattled. She wanted to know if I was receiving coins. I told the truth: “No, it’s bullets”.
Did she duck and grab the phone, or go running out of the room with her hands in the air?
Kula, those ‘worthless’ $100 bills, depending on the amount of them, will still buy a lot of preps. That’s where my spare FRNs are going toward while they’ll still get me something.
Cash is king until they tweak it. Several times now in the last twenty years they have redesigned specific denominations and required it all be turned in an exchanged. If you have ten thousand dollars in old style $100, $50, $20 they may be worthless now, they certainly aren’t legal tender anymore, just try to spend a large quantity. Many in foreign countries keep some savings in US currency in a shoe box. Each time the US updated currency to make it harder to counterfeit, they required all currency to be exchanged for new. People in foreign countries had to scramble to change their stash for new bills.
As soon as you have to upgrade your stash, it becomes visible when you have to go through banks to exchange it for the currency of the day
Stick with gold and silver, it’s not money, it is a commodity, but it does hold its value.
Keep in mind the government holds the right to make banks let them look in safe deposit boxes, so they are an unreliable place to keep gold and silver. This was done when Roosevelt confiscated gold during the Great Depression. They also searched some peoples homes.
Nobody steals like governments do!
PTPO, don’t steal. The govt. hates competition. [sarcasm]
“Each time the US updated currency to make it harder to counterfeit…”
Yeah, that’s their usual excuse. Only today, the real counterfeiters are not some sleazy crook or forger but other governments that have access to the very best digital copy machines, scanners, cameras, printing presses, and other state of the art equipment that can turn out currency of any kind, of very high quality, and in virtually unlimited amount. None of what the US Gov does to combat counterfeiting affects these people one bit. No, this is primarily an excuse that comes up whenever the US Gov wants to screw over its citizens in one way or another.
As they said in the South Park parody on banking… “Annnnnnd, it’s gone!”. That was a funny segment but there was more truth to it than many want to let on.
Cash is King.
Except at banks.
Where it is anathema.
I don’t know if I blame the banks at this point. They’ve been “advised” by the government to report any and all suspicious cash transactions.
In fact, this new rule regarding safety deposit boxes might be connected.
Is a bank responsible for the movement of large amounts of cash to and from a safety deposit box?
What happens when the government shows up with a warrant demanding access to a safety deposit box they find is full of cash? In theory the bank shouldn’t be responsible, but it wouldn’t take much bending of the rules for the government to decide that the bank is.
Sorry, but the big banking cartel called the Federal Reserve dictates to the .Gov what they want.
fools and their money will soon part
You are onto something here, home invasions and robberies in Greece became epidemic when people started hiding cash at home when the government and bankers began confiscating private citizen deposits.
Even without an obvious financial crisis in the US there are an unprecedented number of home invasions and robberies around me. This will only get worse with a major financial crisis. People need to be able to protect their families. I prefer .45 auto and #4 buck with a backup of Bowie Knife, yeah and the wife is packing too.
If you are going to keep gold at home assume the government will come to confiscate it, or a thief will pistol whip your kids till you open the safe. Put a few coins in the safe to make all the thieves happy, and hide the rest, very well, in someplace else.
Let me add, I had a neighbor who tried to hide the family silver really well when he went on vacation. This was many years ago when the price of silver went through the roof.
The thieves came in, disabled a high end alarm, and used a metal detector until they found the silver hidden under fiberglass insulation in the far end of the attic.
Be really, really, really creative when hiding your gold and silver, the government will work harder than the thieves I described above.
PTPO, I have a ‘ventilation team’ to help me protect what’s mine. A home invasion at my humble abode carries the death penalty. The decision is final and there is no appeal.
“fools and their money will soon part”
Yes… and so will fools and their lives.
I wonder how they intend to know whether or not you have cash or metals in your deposit box?
Some kind of forced inventory of it maybe?
Sounds like they are planning on replacing the key locks with electronic locks. They will simply confiscate the stuff when the boxes are re-keyed.
Banks do have a key to your lock box now, so technically they COULD view its contents; not unlike a landlord who COULD enter your apartment, under other than legal circumstances.
Under a General Executive Confiscation Order of cash or gold, or both; an employee of the bank, a branch manager, and a Special Executive Officer of the bank COULD review the contents of every SDB to ensure that no “contraband” was in the box.
Just saying. Ten dollar bills in number ten cans. 😉
Better yet, bury two PVC pipes in your back yard, one inside the other, both sealed. If you do not possess it you don’t own it.
If I started burying money, my yard would soon end up looking like a putt putt golf course with all the holes in it, from having to dig it right back up and spend it. I mean my poor piggy bank looks like a friggin mosaic, it’s been glued back together so many times.
I only use a “piggy” bank with a plug in the bottom…I wonder why we chose a caricature of a PIG to put our money in? Why not a cow, a wolf or an elephant bank?
Piggy banks exist so we can save today and pork out tomorrow. 😉
DON”T do that! Money in the ground usually rots’ Even inside dry pipes. Money has so much mold and hand oils on it, it will mold. Get NEW Bills from the bank. If you aren’t sure they haven’t been touched take your Iron and iron each one dry and hot. place them in a mylar vacuum pouch and pull out all the air, with an O2 and a moisture absorber in the pack. Then put them in a fruit jar, with a plastic lid, suck out the air, then put in your pipe, maybe if you do it right it will be OK.
“Banks do have a key to your lock box now,”
I don’t think that’s true. Friend of mine moved from an Eastern state to a Redoubt state 4-5 years ago, left behind a SDB at a major bank. I have finally convinced her to make the trip to collect the contents, but she’s lost her key! (typical of her). Bank knows her well, but cannot (not will not) open the box for her. She has to hire a bonded locksmith to come and drill out the lock, and pay for a new one.
Every lock has a MASTER KEY.
Banks say that their are 2 and only 2 keys to open any SDB. The bank keeps one and the person renting the box keeps the other one. If a key is lost, the depositor’s lock has to be drilled out to open it, with the bank’s key in the other lock. Again, so they say.
Coach: Trust me on this, the bank has a key. 😉
The FBI searched all safe deposit boxes in most banks looking for gold during the Great Depression. This was challenged in courts, but courts upheld that the economic state of emergency declared by the president allowed these searches. Obama has declared a similar state of emergency already.
An interesting twist, if you placed a locked metal box inside your safe deposit box, that is labeled personal confidential, could they open that box? I don’t think so because the bank doesn’t own it like they do their safe deposit box. And it’s clear that you took an extra effort to insure privacy. Still you can’t trust the banks in my opinion.
I think you are a bit unclear on what the term
“master key” means:
Not all locks are made use a master keying
system. Not to say a bank won’t put in locks
that use such a system, just there is no such
thing as a “master key” for every lock that
All it means is setting up a group of locks
that include appropriate spacer pins so that
pin lines will have 2 shear points to allow
the 2 different keys to work in each lock.
Or by “master key” did you mean to say “drill”?
The thing I hate is we hear that there will be another crisis over and over again. I know there will be one in the future. but what if it doesnt happen for another 10 years. So I take the part of my IRA that is stocks and put it in more gold, more real estate, cash?
Or I take the chance leave it in stocks and get the growth but take the risk…and the crash happens tomorrow.
We are all between a rock and the hard place…
It’s called “diversification”. I took about 20% out of my 401k using a fixed rate loan @2.25% and invested in PMs. I’m paying myself interest on the loan, still have 80% of my 401k, but a crapload of PMs now for if/when the SHTF. I also used a small portion of the loan to back up the PMs with even more Pb as well.
taking money out of your 401K might be doable if you are 59 1/2 or older (no penalties) but what about the younger crowd? plus you forgot to mention money taken out is counted as income and you will pay taxes on it. Best advice is for the monment, until critical time has passed, stop contributions to your 401K and either put that money aside or use it to buy “preps’. Bad advice to cash out 401Ks!!!!!!!
He clearly stated he took a loan from his 401K. There is no tax or penalty for that. He also stated he pays himself the interest on his loan. Maybe for you young folks it should of been written in silly shorthand: imho, lol, stfu, pdpyn and esad. Maybe that you would understand. I also find it funny, your advice. Since you clearly can’t read what somebody wrote. Your advice is as good as your reading.
I can read… can read. LOL. LMAO. 🙂
Spoken like a true bean counter, Mal. Where you been hiding? 🙂
I am diverified now. Some in metals in a private vault, own some real estate and some in the market. just wodering if I should keep my exposure t the market or have it all out…
Old aphorism attributed to one of the Rothschilds: Asked how it was that they never lost money in the stock market, he said, “We always sell too soon”.
Trying to time the peak is insanity. In 55 years of adulthood I know of only ONE person who got it right within three months, and that actually was in the real estate bubble.
“Bulls make money, Bears make money, and pigs get slaughtered.”
“Bulls make money, Bears make money, and pigs get slaughtered.”
Close. It’s “Bulls make money, Bears make money, and hogs get slaughtered”. The lesson being that it is OK to be a pig but not a hog. 😉
Can a clue to the full collapse be any more clear?
I’m an underbanker anyways. A full bank collapse would only cause me to lose a max of about $1000.
I’ve never had an SDB and I never will! After the story of the guy that had stored 47 gold Krugerrands over several years and he went to the SDB to take some out to buy a car and they were GONE!!! Come to find out, DHS found that they were in there and seized them. They claimed they were part of a drug deal. Yet they never charged the guy or even notified him of the seizure.
How crooked does a bank have to be to allow that to happen?
How crooked does DHS have to be to do that?
Somebody should start building stainless steel gallows. We’re gonna need them. They better have replaceable hinges on those trap doors too! …because we’ll be wearing them out with all the crooks and traitors that are going to swing.
I don’t know if I am an under banker or not but I keep only enough to pay bills and fund current projects.
But I am well aware of the shaky ground that banks are on and keep money in there thinking that if its gone I won’t miss it that much. At that point I will have bigger things to worry about than a few thousand dollars.
NetRanger, that’s all the more reason to have a safe at home and keep your money in that. I use one with the old dial combination lock. I keep my combination well-hidden and never reveal it to anyone. Avoid any safes with electronic locks. They have circuits that can be fried by an EMP.
“replaceable hinges”? Naw. When the hinges fail, we just start pushing them over the side.
Hinges? Those guys don’t deserve the courtesy of a sudden drop. Do it the old way where they are just hoisted off the ground and allowed to suffocate slowly. Good on ’em.
As I stated in a comment some time ago, take two pieces of flat stock alittle larger than the size of a bill and drill a hole through both pieces on both ends, and then you can place your stack of bills between both sheets and take a bolt and nut and tighten them down and you won’t have to worry about your bills burning up if you have a fire. Whereever you hide them is up to you, but please not between your mattress, thats the first place everyone would look. Trekker Out. Sure Wish I Had Some To Hide.
I understand that the paper cash is printed on will break down over time.
I know some folks vacuum seal money in Mason jars.
Cash hits my hand and into another’s
so fast it makes a ricocheting sound.
It would take a LOOOOONG time for currency paper to break down. It’s an acid free rag paper, not cheap wood-pulp paper. Absent outside forces such as fire, strong acid or alkali, mechanical stress, etc., it will probably last 200+ years. Books made of similar type rag paper in the 1700s are still intact. The leather bindings go first.
My neighbor’s father left her some IRA’S. She cashed one in that was 99,000. The bank took 10% then she went to get her taxes done and they added the money to her income. She ended up paying about 14,000 to the government. She put the rest in a CD. I would have not done that.
The 10% fee is usually associated with an early withdrawal and shouldn’t have been assessed based on what you stated. She should have someone competent review the situation and it may be worth taking the bank to small claims court to get at least 1/2 of the $10k back.
If the IRA was conventional and funded with pre-tax dollars, then yes, it is considered taxable income. She should have spread the withdrawals out over several years in order to minimize the taxes owed.
@Mal… I took that to mean that the bank took 10% for income tax withholding and not as a service fee, which would be totally outrageous. She then owed another $4k to complete the $14k tax payment.
Can’t keep cash or gold in a safe deposit box?
– Why would you want to?
EXACTLY!!! Fuck the banks and the ass heads that run them!
If people were smart they would start closing their bank accounts.
I was under the misguided impression that a safety deposit box was private.
I guess not.
One step closer to having the ‘mark.’
Dig tunnels like under Wal-mart and store your cash there.
Maybe this is the reason:
Chase Bank is run by a bunch of money-grubbing scumbags.
They wanted to charge me $6 to cash a $90 check someone gave me. That 15% of the value of the check. I took it back and went o my own bank…..
That’s 6.7%, not 15%
“Chase Bank is run by a bunch of money-grubbing scumbags.”
Yep, that’s why they are included on any list of US banksters.
REALLY? Who’s dumb enough to store PM’s in a SDB? Only Dumb Asses I guess. Mine are stored next to really big hand cannons…
The source for this article is Alex Jones. I believe Jones about as much as I believe that Barry is the father of their two girls. Like NO Frick’n way!
Off topic but, I just read on MSN that MacDonalds is closing 100’s of their stores. Not a good sign I would say.
Yesterday they (MSN) had a feature which read, “Six reasons why you should get your money out of the Stock Market”. Wow, even the MSM is catching on to what is coming!
Watch out for this Pacific Trade Treaty. If the Repugnantcans give Barry a fast tract on this, they and the Courts lose all control of our borders and immigration.
R.I.P. Republic of the United States and WOFTH
“Yesterday they (MSN) had a feature which read, “Six reasons why you should get your money out of the Stock Market”. Wow, even the MSM is catching on to what is coming!”
Nah, they are just covering their butt. They know that few will have seen or heard this, so when the SHTF, they can say, “See, we told you that this was coming”, etc, etc.
Its not going to matter when the RESET HAPPENS.
They don’t want your cash because it aint worth anything. maybe the crash is coming sooner than later, but who knows.
Get your Gold and Silver now before it is too late!
Keep your gold and silver some where other than a bank!
Sarge, for a long time I kept about 30% of my silver in two safe deposit box, however, now I just keep some in one local small regional bank.
I decided to spread it out among several locations.
So when are you gonna start spreading it out? Putting it into multiple banks that all have the same rules, regs, and controls applied to them is not very different from putting it all in the same bank. :-/
I’m not so sure I’d do that. The Feds will know, and they’ll see spreading your stuff out as a sign that you’re a terrorist.
Sgt Dale is right. Ammunition, Gold and silver will hold their value post Shtf. Its only real commodity left. Even copper is good for trade. We have to use the cash to purchase it for now while it still has some value. But if we think that post shtf that anyone will take cash and five your gold and silver, that ain’t happening. After this September, the cash may not have any value at all..that now means that 10:00 for a gallon of gasoline is where we are heading then massive foreclosure and all car motes and loans on homes in default. I can see the reaction from the citizenry, they are not going to like that..its literally means that everyone even with $1,000,000, now has 250k, this is when the real problem rises up almost overnight. I work in financial services and work with lenders everyday and I understand money.
Ammunition may cost more than silver before long. I had to buy some for my new handgun (S & W Governor) and was shocked how much it is now. Wow!!
Now you guys know how I spent my Tax Refund.
What was that old western that said “you don’t even have money for cartridges!”
This is no surprise to those of us who understand money and pay attention. The very same people who tell us THAT fiat currency has value are also the ones who tell us HOW MUCH value it has. If they think that the currency needs to be devalued, they will do that. They’ve done it before (1934) via repricing gold from $20.67 per oz. to $35 per oz. That was about a 69% dollar devaluation. Something similar to that IS in the works and WILL be brought forth as a way to boost US exports while cutting back on suddenly much more expensive imports. Trade balance that!
You’d be an idiot to have anything to do with Chase.
Why would anyone intentionally do ANY financial business with Chase & Co. for ANY reason?
Or work for them, for that matter.
They have repeatedly and predictably screwed thier ‘customers’ over.
Damn- get a clue, for Christsakes.
I wonder how long before people start killing the bankers?
Got a box in a credit union. They do have a key but they need mine too to open it. They will have to drill it if they want it. They have a private room that locks so you can have privacy. How will they know if you put metals in there. They don’t want you to put firearms in it. The only gun you could put in it is a snub maybe or a derringer and how would they know. All these story clips are geared to cause bank runs then the bank would close and then they’d say see banks robbing you. Come on people look at the story it’s trying to scare you into taking all your $ out the bank. I think come shtf I’m a go house to house with some buddy’s dressed up like the Gestapo and seize all of it. The bank safe isn’t safe and your isn’t either I guess you should all live in fear. If banks really wanted you to put your $ in there they would stop having safe deposit boxes. Not falling for this one Mac it sounds like one I’ve read before.
Folks this is way out there; Chase maybe telling people get your stuff out now while you still can. Bank holiday coming soon.
There will only be a bank holiday if by some miracle a Republican wins the 2016 election. Right now the elites are making too much money on the rigged stock market. Enjoy it while we can.
Nothing more than the free market operating here. Chase can do business as they fit. If the market likes, they will succeed. If not, they fail. What would you have happen? The gubment telling Chase they t allow cash and metals? As for what to do? Simple. Be self-reliant and solve the problem yourself. Stop whining and looking for others to solve your problems. Take care of yourself.
I doubt this is only because certain portions of our own government want to have digital and thus total control over and access to all of our savings and spending. And certainly not only because they want to make lives more difficult for criminals.
More alarmingly, check out how the IMF, many of the international banks, and especially the BRICS countries themselves, have been pushing for several years to replace the U.S. dollar with the SDR (Special Drawing Rights) to help “stabilize the world monetary system” and “help correct global imbalances”. This is another form of digitized money, which is international in its construct.
Jim Rickards’ recent book The Death of Money goes into this precise issue in depth.
The Wealth Watchman has an interesting article written about secret bankers meetings in DC about multi currency reserve system.
article was written 15 April 15
“And certainly not only because they want to make lives more difficult for criminals.”
Unfortunately, there are parts of the US Gov that don’t see citizens any more. They only see criminals and potential criminals, so treat all accordingly. This seizing of private property because it MIGHT be part of criminal activity with NO proof whatever and often no charges made either is out and out theft, no question about it.
Send gold, silver or cash to us for safeKeeping:
PO Box 177
W Pawlet, VT 05775
Oli the banking Garch says “We cannot control our thieves so do not keep it here. It is our special drawing right.
Please don’t ever quote Ann Barnhardt. She’s bat$hit crazy.
Why would anyone listen to a woman who is thirty some years old and has never had sex. No matter how right she may be that is a big flag to be cautious.
You better start buying gold now–as one day we are going to wake up and our dollars will be worthless. Exchange your soon to be worthless dollars for gold now. Most Americans are not aware what is going to happen. Do not be one of those. Buy Gold –www.BuyGoldEasily.com
To paraphrase the famous saying about guns – “If you take away cash from ordinary citizens, then only criminals will have cash”!
Oh crap. Now I have to open up a Chase account so I can get a safe deposit box and go put cash in it.
That’ll show em.
Just finished Jim Rickards’ book The Death of Money. I his credentials are nonpareil. Well worth the read if you have the time, as he explains in depth about the next crisis – its etiology, how to deal with it as a private, small-time investor, etc. Google his name to get his credentials, but suffice to say he was heavily involved in the 1998 LTCM crisis, as just one item in his resume
Why would anyone have a SDB at a bank anyway. They must be stupid.
Fuck Chase with a splintery baseball bat.
My business used to deal with them, and they are the most shady, arrogant, and corrupt bank out there.
I would never give any of the ‘big-banks’ anything of mine but a big middle finger.
GOOD NEWS RIGHT HERE! (Perhaps not for the sheeple)
Since when the hell did we the preppers trust the banks to keep our cash safe anyway!? You should have diversified much of it all by now. I wouldn’t put a penny of income into a bank. Keep stackin’
Sure seems to be a lot of hatred toward Chase. In this day and age don’t fall in love with any bank. I really have no other connection to Chase, but I do have a credit card with them. Interest 8.25% anyone know where I can get one cheaper. All the others that I have found are 3 to 10% higher. Trekker Out.
Trekker: Move your balance to a zero rate card. There are still some out there. Just keep your old card too. These zero rate cards from various issuers are good for anything between 9 to 12 months; but be prepared to pay it off before the rate goes hockey stick high at the end of the intro period.
Chase gives 5% cash back too. Just saying. 🙂
DK as a rule I don’t carry a balance, I usually only use this card if ordering on line or out of a catalog. I get these zero rate card offers but I am reluctant to use them and really don’t want to have more than one card. I have talked with other banks and they want me to get their card until I tell them the rate I now have with Chase and they can’t match it. I am old enough to remember when you could develope a relationship with a local bank but those days are long gone, due to the intervention of Big Brother. Trekker Out. Love That 5% Cash Back.
Safe Deposit Boxes ARE NOT SAFE BECAUSE HOMELAND SECURITY AGENTS ARE INVOLVED IN BURGLARIES NOW, AND HAVE BURGLARIZED MY SAFE DEPOSIT BOX IN COLVILLE, WASHINGTON!
THE US GOVERNMENTS’ MILITARY WAR CRIMINALS AND OBAMAS’ WHORE CRIMINALS ARE ABOVE THE LAW, AND TARGETING AMERICANS ON OBAMANATIONS’ HIT LIST FOR BURGLARIES, VANDALISM (AND PET TORTURE ALSO IN MY CASE), AS WELL AS THE PLANTING OF UNKNOWN ORIGIN AND STOLEN PROPERTY!
TIME TO GET OUT OF THIS COUNTRY — THE NAZIS’ ARE OUT BURGLARIZING AND VANDALIZING IN THE NIGHT TIME HOURS, AND SOON THEY WILL BE ROUNDING DISSIDENTS UP IN THE NIGHTTIME TOO THANKS TO THE TREASONOUS US GOVERNMENT OFFICIALS INVOLVED IN POLITICALLY TARGETING CITIZENS.
THEY WILL ROBBING PEOPLE OF THEIR GUNS SOON TOO.
THEY HAVE ALSO STOLEN MY AK AND GLOCK MAGAZINES AND AMMO.
I doubt your story.
So Mac, when can I post without moderation? I’ve used the same info to post with over two dozen times, since you changed the thumb up/down and registration info requirements, where’s the beef?!….SIGH….
Sorry for the troubles with this — give it a go now — hopefully it’s good to go.
I’m with you later let’s talk about new stuff no the same shit vomited over and over. Everybody talks of buying gold and silver. Do you know how much fake silver will be going around after shtf. Let’s talk about the many scams out there. How about talking about the many street gangs out there and what they will be up to come shtf. Let’s talk about winners and losers after shtf . Let’s talk about the manual labor that will be needed to run a homestead. Everybody says they are gonna be the leader of their group talk about what happens when people don’t want your leadership. How about all the opportunistic criminals that don’t have records now. How about battles over the few clean water sources available or peoples kids stealing the veggies out of your garden because the are hungry. Women selling sex for supply’s or $ to get things. How about that child molester in your group you never knew about. There is more to shtf than what the gov or banks are doing. Think about how your neighbor will be a bigger threat. It seems we always talk about the gov ya I know they are fucked up so what. I’d be more concerned about some father stabbing you for a can of beans. People think a gun will trump all other weapons. I’d bet a pissed off assailant with a stiletto could close the the 7 to 10 yard gap before most folks could draw their pistol. I’d put my $ on the guy with the blade. Mostly because the aggressor has the advantage over the defender. Don’t believe me act out this scenario with a buddy rubber knife and a toy gun. I scrapped with a lot of people when I was younger just go down to the night club district at the end of the night looking for beef. The biggest thing I learned is the attacker always has the advantage there are very few successful defenders. The cops are so good at winning because they take control right up front.
Here’s my suggestion. If you have a safety deposit box at the bank, empty it out. Replace it with half a dozen prawn heads ….. Close the lid and lock it …… And give it back to the nice people at the bank!! Remember, deposit boxes ain’t airtight. Have a nice day!
Boil the frog. Nobody has mentioned what is really going on here. We have a credit bubble. The only way to continue to drive it is to drive out the competitors: cash and hard assets. They MUST eliminate cash. They can just stock market the hard assets to death.
One BIG questions is “Where does Apple put its $100B?” If you can answer that then you know where they want your money. Probably in money market (maybe a few tens mill) and the rest in short and long range CD? ???
” “Where does Apple put its $100B?”
In CD’s? NO. In T-Bills and Bonds as do all major corporations with excess cash, as part of their cash management practices.
The NWO elite, mega multinationals, and the Uber Rich use T Bills, and US Bonds to stash their excess cash. That is why the US debt is never intended to be repaid: it is used as a source of safety by the NWO because these instruments are guaranteed by the US Taxpayer.
CD’s are for the middle class and as such are available for confiscation and “assimilation”. 🙁
I’ve been a cop for 8 years now in two different major cities and not once have i ever heard a call where a bank teller reported an account holder withdrawing too much money from their own account. I’m not a fan of banks and don’t trust that they have our best interest in mind. Keep stacking and using your safe.
Well no, because there’s a special line for reporting that. I doubt the average beat cop will every have to deal with it. Some section is specialised in “suspicious” money activity and they deal with it all the time.
Check out a series of relatively short clips on Youtube, “Diy secret hiding place,” showing you ways to construct different sorts of hides in your house–for guns, money, etc. There’s bound to be at least one there that will work for you in your home!
No clue who posted them, I discovered them by accident…
Most likely the bank does not want to become a target of thieves and break ins. Paper is much less liquid, and jewelry can be identified.
This is actually pretty standard practice for any bank’s policy regarding safety deposit box contents. I worked in banking for about 5 years and as a policy the banks told the customers not to store cash in them. By law a safety deposit box holder can’t store drugs and firearms in them though jewelry and precious metals were okay.
The reason for discouraging cash to be stored in a safe deposit box was because the bank’s property and asset insurance wouldn’t cover the loss of cash if something happened to the deposit box contents. It sounds like JPM is no longer willing to cover the loss of precious metals as well now.
The JPMorgan Chase updated rental agreement does not say anything about precious metals not being allowed in the safe deposit box. PMs are OK.
I am sure everything is alright. After all, JP Morgan Chase has the highest exposure to derivatives of any of the big banks, but I suppose a few trillion dollars difference doesn’t make much difference. Keep an eye on the rest of the too big to fail bunch and see if they follow suit.
How about opening a bank account in Chinese Yawn? Besides holding Old World sovereign gold coins. When SHTF the Feds may confiscate your gold bullion but your pre 1933 gold is a “collectable” and not easily confiscated. Hell they may even close all coin shops; then how are you going to get cash for your coins? Expect living in a enemy state. The NSA and Boogey Men will have you on lockdown in “Martial Law” with all financial history like a fairy book online. Prepping and hoarding will be illegal, as rationing will be the norm. Banks will restrict your accounts, bail-ins and controls. They know all the angles to keep you prisoner. Try to have a passport and a bug-out destination outside of the country. Travel restrictions, curfew, and ID checkpoints. Venezuela is declared a terror state, so ask them how they are managing. Yemen citizens took back their country and now they are labeled as Houthis terror group. Another country is trashed. You will know the day is near when your USD goes into hyperinflation mode.
After trying to find Mac’s source or evidence this has happened, all I can find was a person “claimed” he got a letter from Chase bank saying he can’t put cash in their safety deposit box. There is not one bit of evidence of this ONE letter.
I’d advise you readers do your due diligence and check out what articles are posted here. You can believe it or not, but don’t you want the truth instead of conspiracy?
Remember fellow patriots… Federal Reserve Notes are worthless. Can you say Confederate money? Only silver and gold and coins have real value. Better to spend the cash on supplies. They may give you ten cents on the dollar at the bank, but they will confiscate your cash you have at hand. Pulling these worthless notes out of the bank will only cause a banking problem. AND do not put any valuables in a safe deposit box!
Remember we live in interesting times.
I have several thousand dollars in a trust account that comes due soon on my 30th birthday. Does anyone know if there is a way I can take this in cash, even if I have to pay some sort of tax on it.
Take the wheels off that old junk car sitting in the driveway and bring them into your basement. Make sure the tires look pretty ratty and there is no catalytic converter on the vehicle. Load your stacks of Grant’s and Benjamin’s inside, along with your Kruggerands, remount the wheels, put about 18 pounds of nitrogen in them so they will look semi-flat, and remount the wheels.
Leave the keys in the car but no gas in the tank, and make sure the license plate is still paid up so the reader cameras on passing snooper cruisers will be satisfied.
Who could have thought?
The updated safe deposit box rental agreement from JPMorgan Chase says that the renter agrees not to store any cash or coins other than those found to have a collectible value. There is nothing stated about not being able to store precious metals in the safe deposit box. JPMorgan Chase says cash and coins. Precious metals, in general, are still OK. My bank and many other banks have had this restriction on cash being in a safe deposit box years ago. Not a big deal. Many fear mongers are getting their facts wrong as usual.