How Safe is Your Safety Deposit Box?

Thinking about storing your gold and silver in a safety deposit box? You might think otherwise after watching the following news story.

The recession has meant reduced tax revenues at all levels of government. Unlike the Fed, state and local governments can not print money out of thin air, so they are coming up with more creative ways to steal your money.

In many municipalities, for example, residents have noticed that the police are issuing a lot more traffic tickets. (Does that sound like a police state, when tax collectors wear guns and have the authority to arrest you?) Even though property values have fallen off a cliff, many municipalities (including mine) have simply raised the property tax rate to make up for any potential fall in their revenues.

It seems that decreasing government spending is an option that has been taken off the table. Despite the fact that the people are hurting due to the recession, all levels of government seem intent upon extracting every drop of blood from their citizens, rather than reduce their budgets as the people in the private sector have been forced to do.

History shows that governments have rarely been reluctant to unjustly seize private property. If you want a demonstration,  just try skipping a few of your property tax payments. And let us not forget that in 1933, the US government seized all the gold that Americans privately owned at that time, and made it illegal for Americans to own gold, thus preventing them from protecting themselves from the pillage of government-run inflation.

What is this all leading to? In the future, as the depression deepens, we could see the confiscation of the contents of your safety deposit box, especially if they decide that it is time to confiscate our gold again–all in the name of the public good, of course. Watch the following news story, as this may only be the beginning:

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