The not so safe, safe deposit box.

If you have gold or silver stored in an ordinary safe deposit box in a U.S. bank, you may want to reconsider.

Governments desperate for funding for their boondoggles and pork will resort to anything they think they can get away with, from red light cameras and speed traps to trumping up racketeering charges if that will result in salable booty and cash confiscated.

Now, they seem to be going after safe deposit boxes that are “abandoned”, even though the owners pay the rent every year. Many states have been guilty of having a safe deposit box drilled and its contents seized and auctioned with very little attempt to find and contact the real owners.

While this video does not make it perfectly clear, I presume that bank negligence is part of the equation. The one bank mentioned by name was Bank of America.

Another reason to boycott Bank of America.

Watch this short video from ABC news:

To really know what is going on with gold & silver and the mining stocks that give you leverage on the price of gold and silver, consider a risk free trial subscription to Casey’s Gold and Resource Report.

(There are risks in owning and storing physical precious metals, as well as non-physical precious metals. I have written on this topic before, see previous posts for additional information. Please perform your own due diligence with all investment matters.)

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