We don't have to harken back to the one-time FDR confiscation or even an individual's death -- banks have come up with a new method of safe deposit theft that they spring on regular folks on a regular basis:
San Francisco resident Carla Ruff’s safe-deposit box was drilled, seized, and turned over to the state of California, marked “owner unknown.”
“I was appalled,” Ruff said. “I felt violated.”
Unknown? Carla’s name was right on documents in the box at the Noe Valley Bank of America location. So was her address — a house about six blocks from the bank. Carla had a checking account at the bank, too — still does — and receives regular statements. Plus, she has receipts showing she’s the kind of person who paid her box rental fee. And yet, she says nobody ever notified her.
“They are zealously uncovering accounts that are not unclaimed,” Ruff said.
Her great-grandmother’s precious natural pearls and other jewelry had been auctioned off. They were sold for just $1,800, even though they were appraised for $82,500.
California law used to say property was unclaimed if the rightful owner had had no contact with the business for 15 years. But during various state budget crises, the waiting period was reduced to seven years, and then five, and then three. Legislators even tried for one year. Why? Because the state wanted to use that free money.
California became so addicted to spending people’s money, that, for years, it simply stopped sending notices to the rightful owners. ABC News obtained a 1996 internal memo in which the lawyer for the Bureau of Unclaimed Property argued against expanding programs to notify rightful owners. He wrote, “It could well result in additional claims of monies that would otherwise flow into the general fund.”
If that’s not theft, what is?
So the state is resorting to outright theft.
Rev II is not far off.
Of course, this is an actual STATE doing the theft instead of the fedgov, so those residents will have to move in order to avoid the tyranny.