|Get a char you don't really care about, empty his pack out, then make sure he owns a house (or is on the same acct of a char who does own a house) and secure his backpack, then raise it up with the house decor tool. then log out, get on a char who owns the house (or is on the same acct of a char who does own the house), and release the bag, and put it in your pack. You can go to fel, and as you hunt, drop items in the pack. It is un-snoopable, and blessed. when done, secure the bag back on the floor, get your other char, and release it! And there you go, all your loot, safe and sound back at home!
Notes: there are prolly a ton of other uses for this bug, feel free to try them out!