Posted on 04/08/2015 2:09:58 PM PDT by Migraine
I received a letter this past week from Chase because I was a safe-deposit-box customer. It was heavy handed and startling. Some of the terms included that lessee agrees not to have more than $25K worth in there (what's that? half of a good diamond?), that you can't have cash or coins in there (right away I thought Krugerrands, etc), and that the bank can restrict access to the box for any reason, or for no reason (unexpected circumstances, natural or manmade -- the sky is the limit). The contents are not protected against loss or damage. Oh, and they are raising the rent. I promptly went down and withdrew all my money, emptied the box of my meager possessions, and closed the accounts.
JOAT you are absolutely right. Most of us FReepers can see what’s coming.
jsand — I put nothing past these elitist, control-freaking ba$tards.
Switstikaland? Might better just burrow a ways toward it.
I guess now you will believe that all of that “talk” about the government coming to get what you have is right!
As sure as the sun rises in the morning the government will make physical and financial slaves of us all. The first step was when banks were forced to join the “know your customer” program and like all programs, it was simply the tail on the devil that was lurking outside the doors of freedom.
I really feel for those who have saved responsibly and now will find that it was for naught in the near future when all that you have in the way of investments and cash will soon belong to the government.
You can thank both Republicans and Democrats for this “gift” from the government.
Thanks, DH — I hear ya.
>> I think this is a federal policy <<
War on drugs madness?
In the fwiw dept., the state of CA was able to put a lien on my box. Same with my accounts. Took a tax attorney and $500 plus to get it back.
Bastards.
5.56mm
Swiss banks are now required to report on US citizens - I had an account there at UBS while working there and they simply told me they were closing my account since I was from the US, and even though I signed a document allowing them to disclose everything to the US Government regarding my meager account they didn’t want to have any US accounts.
I understand safe deposit boxes there may be OK - never had one there so don’t know if there are any restrictions.
Well, MKehoe, I am so sorry to hear of your hassles vs Kalifornistan. Wouldn’t wish that on anybody.
The banks have been making off like thieves for too long, and it’s starting to bite the good guys in the A. Time for the good guys to bite back by not feeding the beast any more, huh?
“...two meth crazed NYC rats in a safety deposit box...”
Well, that’s a heck of a mental image! LOL!
Raise the price, lower the value--a good business exit strategy.
I saw similar behavior from Chubb (who had been a good home insurer over the years) on Cape Cod. Over a period of about 3 years, they tried to double the rates, because they wanted to get out of the business there because of presumed wind exposure (water isn't an issue inland, even on the Cape, if you're 50 feet above sea level). They didn't say, "go away," instead, they just raised prices so high that you had to look for alternatives, and there were plenty of them.
“You acted wisely, Migraine. Try to locate a good, local (or regional) bank or S&L with a good track record. Stay away from Chase, BOA, and other globalist concerns.”
I was in finance/banking for 30 years.
My advice?
If you just do normal family banking, you can’t beat a stable credit union. Banks are not competitive, and most don’t care about you at all.
2) If you are in business, a local or regional bank will probably be more responsive to your needs. Get to know the bank VP if you can.
fascist-controlling the population madness
I think your analogy is apt.
The FATCA law.
Watch the credit unions too...they cross collateralize. That means if you have credit cards and a car loan, if you go south on their credit card they can legally repo your car to satisy the credit card debt. I do not believe the banks can do that. I found that out the hard way and just missed tham grabbing my car. Also some CU’s now put GPS and a kill switch on the cars they loan to. In either case they are reluctant to tell you. (we forgot)
The feds regulate the banks. You’ll almost certainly find your answer there.
But in a way, it’s a good thing. People should NEVER TRUST banks in the first place. If bad times come, their boxes will be emptied LONG BEFORE they can access them.
Sounds like the feds have finally caught up with watching Breaking Bad.
It isn’t “your” money now. Last year the Lord-high-mucky-muck of banking decreed that what you put in a bank is thereafter “theirs.” That’s why I haven’t seen a cent of interest on my previously interest-bearing checking account with my credit union.
The idea behind this move was (as I understand it) to enable banks m(and credit unions) to use your deposits to pay their debts in the case of a bank failure. Neither I nor my wife keeps anything but necessary expenses in the bank. Everything else goes into a fruit jar. The interest is the same...
> jsand — I put nothing past these elitist, control-freaking ba$tards.
6 years ago I couldn’t envisioned the insanity and havoc that one man and his minions could wreak with the assistance of one athiest billionaire either...
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