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Homeland Security To Confiscate Bank Safe Deposit Box Contents

15 November 2007, 07:53

I’m a licensed and bonded locksmith... w/ 25+ years experience.

FIRST, Every person who has access to SDB keys has the ability to copy them. 99% of these keys are nothing more than a flat piece of metal that can be duplicated by a teenage boy in the garage with nothing more than a $50 handheld rotory power tool. This means that it is possible not only for bank employees to illegally access your SDB; but also other SDB holders. HOW? Simply by renting mutiple boxes at the same bank, copying keys, then giving up all the boxes except 1 and waiting for them to be re-rented. Then going back in to get into your box; but get confused and stick your ILLEGAL KEY into someone elses box... the stupid bank employees never even look to make sure they are opening the right box; as they blindly insert there guard key and turn both to open the box for you. FOR THIS REASON, the SDB contracts are written to protect banks from any and all liability from theft of materials stored in the box. You are really taking your chances when you store anything in a SDB.

SECOND, Several times over the past year I have attempted to pull out $5K to $8K cash from three different banks that I have accounts with. In each case, the teller told me that they don’t have that kind of cash on hand. I THEN DEMAND TO TALK TO THE BANK MANAGER. I inform the manager that I’m going to a national industrial trade show (true statement) and need the cash to buy used tools and machines from peers. Checks and Credit Cards don’t do you any good at these shows where CASH-N-CARRY is the motto of the day! Everytime, the manager told the teller to give me the cash... and magically the teller had enough cash on hand for my withdrawl.

THIRD, As a business owner I have a merchant accout with MASTERCARD/VISA. Each month the banking fees total 4% to 5% of my net credit card sales. My guess is that the banks have plenty of cash on hand, but don’t want much of it in circulation because they want to earn fees on as many consumer transactions as possible. Let’s face it, if you spend $1000 each month on your debit card; the banking system can earn $10 to $50 in fee income off the merchants you do business with. [Of course, you are really paying these fees in the form of higher prices]. If the bank lets you (or makes it easy for you) to take your money out in the form of CASH and spend it, they lose that fee income.

FOURTH, I asked a manager at FIFTH/THIRD BANK in Ohio, if my accts were FDIC insured. Before he gave me a direct answer, he told me that the gov’t pushed the FDIC thing way too much. He then said that If FIFTH/THIRD BANK (a small regional bank) were to go under, it would bankrupt the FDIC. He then said that the Gov’t might step in and bailout the FDIC but if they did it could take 7 or more years for me to get back the $23K that I had in a savings acct with them at the time.

FIFTH, The subprime mess is infecting almost all the banks, money market funds, pension funds, and major bank failures at anytime in the next 6 months are very likely. I have never in the past been afraid to keep money in an FDIC insured account. Today, I am very afraid!!! I opened up an account in Ireland and wired the bulk of my savings offshore. They were able to give me a debit card attached to my savings acct, so I can still access my money anywhere in the world at anytime (of course they do charge fees for this).

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* WAKE-UP CALL *
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The last thing I have to say is really a message for any BANKER, or GOVERNMENT OFFICIAL who reads this post. As I LOCKSMITH, I secure businesses and homes for people. All I have is my integerity--- for people must trust me not to make duplicate copies of their keys and then come back and rip them off!!! If I or any locksmith were to betray the public’s trust on this issue, we would be out of buisness OVERNIGHT!

The U.S. GOVERNMENT has failed to prevent the WALL-STREET scam artists (bankers, brokers, ratings-agencies) from destroying the integerity of the American Financial System. As a result the world is about to put the UNITED STATES out of business OVERNIGHT. (Its just that overnight in this case is going to take a several months to a few years — due to the complexity involved in untangeling national economies) CHINA and many other countries have already started to dump the U.S. dollar and USD assets as the first step in this process.

ITS TIME TO CLEAN HOUSE! The U.S. Government must clean up the markets and restore integerity to the financial system or the end game is going to be WWIII.