Wednesday, January 26, 2011

A Decade Of Progress Wiped Out By Financial Policy

An excerpt from Bob Chapman's weekly publication.
Safety deposit box holders and depositors are not given advanced notice when failed banks shut their doors.
If people have their emergency money in a safe deposit box or an account in a bank that closes, they will not be allowed into the bank to get it out. They can knock on the door and beg to get in but the sheriff’s department or whoever is handling the closure will simply say “no” because they are just following orders.
Deposit box and account holders are not warned of the hazards of banking when they sign up. It is not until they need to get their cash or valuables out in a hurry that they find themselves in trouble.
Rules governing access to safe deposit boxes and money held in accounts are written into the charter of each bank. The charter is the statement of policy under which the bank is allowed by the government to do business. These rules are subject to change at any time by faceless bureaucrats who are answerable to no one. They can be changed without notice, without the agreement of the people, and against their will. People can complain but no one will care because this is small potatoes compared to the complaints that will be voiced when the executive order that governs national emergencies is enforced.
That order allows the suspension of habeus corpus and all rights guaranteed under the Bill of Rights.
A look at the fine print of the contract signed when a safety deposit box is opened reveals that in essence the signer has given to the bank whatever property he has put into that deposit box. When times are good people will be allowed open access to their safe deposit box and the property that is in it. This also applies to their bank accounts.
But when times get really bad, many may find that the funds they have placed on deposit and the property they thought was secured in the safe deposit box now belong to the bank, not to them. Although this was probably not explained to them when they signed their signature card, this is what they were agreeing to.
During the Great Depression in the early 1930’s people thought that many banks were going to fail. They were afraid they would lose their money so they went in mass to take it out, in what is known as a run on the banks. The government closed the banks to protect them from angry depositors who wanted their money back. Throughout history, governments have acted to protect the interests of banks and the wealthy people who own them, not the interests of depositors or box holders.


  1. it so that gold or silver specifically in safe deposit box becomes unsecured funds and then goes to said bank..thought I read that awhile hey-instead buy gld or slv..that's safe fer

  2. I don't necessarily agree with the assertion being made by the author about safe deposit box contents in event of bank failure. There are also other references citing FDIC procedure and practice followed when they change out ownership which is the normal case today when a bank is closed. With the number of banks that have been closed, surely there would have been some screaming in the MSM by now if there was a widespread issue regaring people getting access to safe deposit boxes and contents.

  3. 856
    id like to say
    msm and snata claus and the easter bunny are looking out for you.
    know go to bed before mommy wakes up

  4. I have a safe deposit box. My PM's are not stored there. If the banks fails or has a "holiday" for several days or weeks, I'll have no access to my box.

  5. What no one seems to be noticing is that FDIC is supposed to pay the accounts of the account holders and then close the bank and the loans are null and void at that point. That is what the fund is for. FDIC has not been doing that. The FDIC has been closing banks undercover of darkness and selling them to another bank. Doing to things, keeping (illegally I will add) loans active and making even bigger (too big to fail) banks. The loans are illegal as the new bank is not the original loaner.

  6. 11.33:
    I believe, only the "good" loans are passed over to the "buying" bank at a knockdown price.

    The bad loans and losses are kept by the FDIC in the end for the taxpayers to pay.

    The most important asset the buying bank wants is the deposits and depositors accounts.

    Getting contol of the depositers accounts and cash without the resonsibility for any bad loans ,boosts the cash reserves of the takeover bank cash that they can then use for bank reserves for fractional reserve banking .

    By handing over the depositors accounts the FDIC actually has little to pay out on its guarantees to depositors.

    The big monopoly takeover banks are already subsidized by TARP and near free money loans from the Fed and even more of the banking business is concentrated in the hands of the Corporate States favorite monopoly TBTF klepto cronies.

    Because of mortgage frauds and improper methods of property titles and mortgage transfer records kept in recent years, the takeover banks may indeed not be getting clear title to the badly registered mortgage loans.

    The FDIC often keeps the worst titled loans for the taxpayer, as well as guaranteeing the worst of any bad loans as good to the takeover bank.

    (As with the earlier sweetheart takeover of Countrywide by a TBTF bank)

    This breaks the target banks of the TBTF banks into good and bad banks sections .

    Guess who gets to pay for the bad bits?

    Its all Ponzi economics and bailouts fraud.

  7. Bob Chapman is amongst the best on the internet at economic analysis of the economic crisis and the manipulative role of the international elite.
    the title of this article-
    Implies a good system going bad

    "A Decade Of Progress Wiped Out By Financial Policy"

    The only "progress" made in america in the last decade was the growth of credit/ debts for keeping the Great Ponzi economy going a bit longer.
    The title also implies that bad 'financial policy' was resonsible for not being able to keep the great ponzi economy 'progress" on track.
    In actual fact ,only the government bailouts and money printing gained a bit more time for the Ponzi economy since its collapse in 2008

    The bailouts and massive quantative easing /money printing financial policies are the result ,the emergency response to temprarily hold the system together with illusions ,not the cause of the collapse of the Ponzi economy with already unpayable levels of debts.

  8. Is there any further reading you would recommend on this?

    safety deposit centre


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