scstocks: In the past, when there has been a bank that has failed, the Feds close the bank and perform audits. During that period customers would not have access to safety deposit boxes. I know some lawyers who did such work in the aftermath of the Saving and Loan crisis in the late 1980s. They pour over the records to determine ownership of accounts because at that time there was only FDIC insurance up to $100 K...so if a depositor had more than that, even if in multiple accounts, they were screwed. The process took weeks at least. Globally I am not sure. But I certainly wouldn't want to risk it. If I had reason to store valuables in safety deposit boxes I'd have a safe installed in my home instead. A bigger danger than the usual bank failures which happened in the past is that our morally bankrupt politicians have passed legislation authorizing "bail-ins" for failing banks, just like they did in Cyprus several years ago. The Euro banks have the same authority. The banksters know they won't be able to sell Congress on another Multi-Trillion Dollar Bailout by the taxpayers, and the Government know that FDIC is woefully underfunded. So when the banks fail they will look to the depositors to bail them out. There will be a threshold amount that is untouchable but beyond that the banks will be allowed to loot their own depositors. Once these "bail-ins" begin there will be rioting in the streets. 99% of the American people have no idea that the banks will have the power to do "bail-ins". If our political whores think people are pissed now, wait until this current economic meltdown proceeds as it will. It's no wonder that they have militarized our police forces. They'll need all the muscle they can get to keep the sheeple at bay.
AI
