posted on Aug, 14 2011 @ 05:11 PM
This is an interesting article I did an ATS search on before bringing to the table. Curiously, while I did not find this particular article on ATS, I
did find a couple of occurrences of essentially an identical article from the past 9 months or so. Seems like the trend is showing no sign of letting
NEW YORK (CNNMoney) -- Amid the market turmoil, sales of security safes and vaults have spiked. While some shoppers sought to protect whatever
valuables they had left, others needed a place to stash their newly-acquired safe haven assets such as gold and cash.
Port Charlotte, Fla.-based Value Safes said it sold an average of $13,000 in safes a day in the past week, more than tripling its daily average of
$3,500 from the previous week. On Amazon.com (AMZN, Fortune 500), SentrySafe's $170 1.2-cubic foot combination safe was among the site's biggest
"movers and shakers" Friday, with sales rising 44% over the past 24 hours.
Two previous mentions on ATS of this same trend:
From the December 2010 article:
SAFE sales are soaring as more and more worried bank customers stash their cash at home.
AIB said last month that the amount of money on deposit at the bank has fallen by €13bn since the start of the year -- although it blamed most of
the reduction on withdrawals by companies and financial institutions.
This is from IRELAND. By April of 2011, Ireland had been downgraded to junk status.
The second article was from the USA, coincidentally, the gap between the report of safe sales surging in Ireland and their huge downgrade is pretty
close to the gap between the initial report of safe sales surging in the US and our first ever downgrade by S&P. Could this new report from today of
yet further accelerated home safe sales be an ill omen that the wealthy have been informed that banks are not a wise place to store valuables? Could
the US be preparing for an even greater downgrade expected around December of this year and home safe sales act as an odd little predictive tool?
Likely I'm just reading too much into this and, to be honest, 3 news articles over a 9 month period is not enough information to form a trendline
from... but high volume home safe sales aren't exactly the only current indicator that we have a massive economic crisis on our collective hands.