There once was an entrepreneur who didn’t trust the banks… they’d always failed.
So when he started making real money in the post Depression era, he instructed his accountant never to keep a bill over $5 because it was less likely to be counterfeit. Also, the accountant was to keep lots of silver dimes so that in an emergency, they could be melted down for their silver. (That wouldn’t work today).
When the accountant retired 20 years later, he gave his successor $4 million in cash – with lots of $5’s and dimes too.
We laugh at that, but then you read stuff like this… Not-So-Safe-Deposit Boxes: States Seize Citizens’ Property to Balance Their Budgets
The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they’re supposed to safeguard for their citizens. But a “Good Morning America” investigation found some states aggressively seize property that isn’t really unclaimed and then use the money — your money — to balance their budgets.
And if the IRS comes to your safe deposit box and you can’t PROVE where the money came from legitimately (and how would you prove that any way?) it’s subject to seizure as illegal.
That old Okie sounds really smart now.
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