[CottonBall]

I wanted to get everyone's advice here. Hubby insists on storing some of our valuables in safety deposit boxes and some in the gun safe here at home. I am more apprehensive at letting the banks have our stuff than I am having it close at hand, but I see his point (theft, fire) in spreading it out.

My concern is when Obama nationalizes the banks and we can't get into either our account or safety deposit box.

Anyone know the circumstances leading up to the banks closing their doors in Argentina? I want to have a list of events in mind that might lead to this happening here, so I can make mad dash to the bank before it is too late.

Plus, I was thinking that local credit unions would be better than the big chains. I distrust the BofAs, Wells Fargos, etc..... Any opinion on that?

Thanks!

[nw_arizona_granny]

My concern is when Obama nationalizes the banks and we can’t get into either our account or safety deposit box.<<<

My first thought, is that if obama plays with the banks, you will never see what you have in your S.D. box.

I would not use them.

Don’t bury dollar bills, for if moisture gets in, they rot and and you cannot separate them, I tried that in the 70’s and never got back what I had in the roll of bills.

The bank would not take the mess and it had to be sent to the treasury, where they ‘estimated it’.

If you had greenbacks in a banks box, then it could be claimed as illegal money, from dope , etc.

My thoughts.

Never trust a bank, when you know they are already in trouble.

[DelaWhere]

>>>Plus, I was thinking that local credit unions would be better than the big chains. I distrust the BofAs, Wells Fargos, etc..... Any opinion on that?<<<

Credit Unions are strong, run by local boards of directors and are member oriented. They are insured by NCUSIF (National Credit Union Share Insurance Fund) It is (or was) better capitalized than FDIC. All capital of all credit unions are pledged to the NCUSIF should calamity strike. This provides multiples of the protection that FDIC provides.

However, rest assured that nationalization of banking would entail a ‘Bank Holiday’ of indefinite duration being declared and that would apply to ALL financial institutions.

Personally, I do not trust safe deposit boxes. But that may just be me. I like to control access to my assets.