Is Bank Confiscation Of Our Accounts A Possibility?

paoli2 | Jul 23, 2020 | 2,641 posts since 2011

Yesterday and today I read more reports about the possibility of banks being able to confiscate accounts especially $10,000.00 and over. I could not find it was from anyone selling gold. Does anyone know more about this or if it includes checking accounts? Since interest rates are so low, I keep larger amounts in certain checking accounts to pay bills for ourselves and family member. Does this mean I have to lower those amounts to protect them from being seized. What has our country come to when we can't trust our banks with our money?? This is very concerning if it is true. Thanks for any info.

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Answers

alan1 | Jul 23, 2020 | 877 posts since 2015

This seems similar to the scam you asked about here:
https://www.depositaccounts.com/community/ask/42081-doddfrank-protecting-savings.html

I think you may have wound up on lists of targets of scams. I don't know how you got on them, and I don't know if you'll be able to get off them. But your life might be a little bit calmer if you completely ignored them.

And regardless of your political beliefs, do not provide contact information to anything connected to Ron Paul. That's a major way for names to wind up on these sorts of sucker lists. It's not unreasonable for someone to agree (or disagree) with his political views, but don't give him your name.

paoli2 | Jul 23, 2020 | 2,641 posts since 2011

Ron Paul seems to be the key to what is going on! Our local senator never responds to all my emails so we have been just sending them to Ron Paul since he seems more active with issues. Well, I guess we have to figure out a way (if any) to get off his list. Thank you for wising me up and I won't be posting anymore posts about this subject. Ignorance can be bliss, sometimes!

Choice | Jul 23, 2020 | 937 posts since 2020

Diversity and return of principal! Banks et al have closed or curtailed access for various reasons around the country. One example is closure of branches (and thus access to safe deposit boxes, etc) w/o notice! Spread the assets safely around...the emperor is really...

beecia | Jul 24, 2020 | 20 posts since 2019

Are you saying that despite high ratings and FDIC, our principal is still at risk in banks?

Choice | Jul 25, 2020 | 937 posts since 2020

Only as good as the insurance and like in 2008-2009 (worst case) long lines to get funds. Difficult to believe but someone (we won’t mention names to get pass the censor moderator) doesn’t issue a hold on payments and good lieutenants also salute and follow their leaders! Proper prior planning prevents ...poor performance (the 7Ps). The decision makers want to “save” the FIs! We are way down in the food chain!

blazer9 | Jul 25, 2020 | 228 posts since 2019

unnecessary fear mongering

beecia, only read the first 6 words of above choice reply

beecia | Jul 25, 2020 | 20 posts since 2019

Thank you, blazer9. :)

GreenDream | Jul 24, 2020 | 358 posts since 2019

Yesterday and today I read more reports...

You need to be more selective in what you read/what mailing lists you get on. This isn't the first time you posted bunk starting out with "I read..." without so much as a link to what it is you supposedly read.

paoli2 | Jul 24, 2020 | 2,641 posts since 2011

GreenDream: Your point is well taken and understood. I do have a bad habit of reading a lot of info and getting concerned without jotting down where I read it etc. Many times I have wanted to return to the info for myself and cannot find it because of this negligence on my part. I thank you for bringing this to my attention and now keep a pad and pen by my computer to make these important notations for myself and when I want to ask for additional info from this group or others. Much appreciation for bringing this to my attention.

Please understand that what you may consider "bunk" can be a concern to myself or even others if they don't understand if it is legitimate or not. We have readers and posters in this group who have great knowledge of these subjects and I am grateful for their help and willingness to share.

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