As the world falls further into economic crisis and political instability, precious metals accumulation among the general public has seen an unprecedented rise. Hoards that include precious metals, guns, and other physical assets are growing across America, as those with a feeling of unease about the government’s ability to mitigate the problems facing our nation look to secure some of their wealth in non-paper holdings before the bottom falls out of our financial system.
The distrust with the system in general extends not to just financial markets or the Federal Reserve, but the very banks that are supposed to be responsible for holding our wealth securely. The prospect of cascading bank failures and Great Depression style runs, openly discussed in recent comments by Fed Chairman Ben Bernanke himself, is motivating more and more people to take their personal wealth preparedness plans to the next level.
At one time, securing your assets at your local bank branch seemed like a good idea. But we can no longer consider traditional safe deposit boxes as safe. This has has been demonstrated recently in England with the seizure or thousands of supposedly secure boxes, as well as California, where local governments have already seized assets of box holders under the pretense of unclaimed property (even though it is perfectly clear who the owners are in many cases):