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deranger@sh.itjust.works ⁨12⁩ ⁨hours⁩ ago

• A_Union_of_Kobolds@lemmy.world ⁨12⁩ ⁨hours⁩ ago

  Around $140/gram currently for those curious

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  • Asafum@lemmy.world ⁨11⁩ ⁨hours⁩ ago

    So then, however disgusting the thought, if they do make the trump $250 bill then that would be the only case where taking the cash is the better deal (putting ease of use for gold vs bills aside)

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    • basxto@discuss.tchncs.de ⁨33⁩ ⁨minutes⁩ ago

      Reminds me, that we are sadly phasing out €500

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    • Evil_Shrubbery@thelemmy.club ⁨11⁩ ⁨hours⁩ ago

      WWII killed the 500 bill (that was gold-backed at the time) so now ppl have to smuggle gold.

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    • Smaile@lemmy.ca ⁨8⁩ ⁨hours⁩ ago

      for a little while, yah ;)

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• socsa@piefed.social ⁨11⁩ ⁨hours⁩ ago

  But the cash is more liquid. Selling $70M worth of gold is a hassle and would invite unwanted attention. $50M in cash you can spend right away.

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  • red_bull_of_juarez@lemmy.dbzer0.com ⁨11⁩ ⁨hours⁩ ago

    Cash in this day and age is a huge pain in the butt. Sure, you can get groceries and some tech. But buying a house or even a car or pay for services? Impossible to very inconvenient. Even just paying for everything in cash will be a problem if you ever get audited. You’d need to launder the money somehow and at that point you can also take the gold.

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    • UnspecificGravity@piefed.social ⁨11⁩ ⁨hours⁩ ago

      Another critical difference:

      If you got a million dollars in cash you were obliged to pay taxes upon receipt, and if you did not do so and you try to deposit it, you are going to get flagged for a tax audit and subject to criminal charges.

      If you got a million dollars in GOLD you don’t pay taxes until you sell it. So you can sit on it for years and then sell it and deposit it and you only pay taxes at that moment and have not broken the law in doing so.

      Money is income, Gold is just gold until you turn it into money.

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      • red_bull_of_juarez@lemmy.dbzer0.com ⁨10⁩ ⁨hours⁩ ago

        Good point, but after a while someone would still want to know where the gold came from. Unless you sell it so slowly that it’d be barely useful to you.

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    • CultLeader4Hire@lemmy.world ⁨10⁩ ⁨hours⁩ ago

      You’re saying I should open a car wash?

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      • red_bull_of_juarez@lemmy.dbzer0.com ⁨10⁩ ⁨hours⁩ ago

        On the advice of counsel, I decline to answer that question.

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    • wonderingwanderer@sopuli.xyz ⁨7⁩ ⁨hours⁩ ago

      Would it raise as many questions if you inexplicably receive a priceless painting as a gift from an anonymous benefactor and then sell it on the legitimate market?

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    • UnderpantsWeevil@lemmy.world ⁨11⁩ ⁨hours⁩ ago

      Cash in this day and age is a huge pain in the butt.

      The initial deposit would be tricky, but after that it’s pretty straightforward.

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  • OwOarchist@pawb.social ⁨11⁩ ⁨hours⁩ ago

    $50M in cash you can spend right away.

    Maybe the bank won’t be too curious, but the IRS will definitely notice.

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    • UnderpantsWeevil@lemmy.world ⁨11⁩ ⁨hours⁩ ago

      Just pay taxes on $50M. Then you’re left with around $25-35M depending on how you report it.

      And that’s more than enough to live comfortably on interviewing l indefinitely

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• adarza@piefed.ca ⁨6⁩ ⁨hours⁩ ago

  wolframalpha says the gold is worth about $22m more, but it’s a no-brainer. gimme the cash. the extra ‘value’ in the gold is not worth the extraordinary measures needed to deal with it.

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• billwashere@lemmy.world ⁨5⁩ ⁨hours⁩ ago

  Yeah by my calc a 1kg of $100 bills is about 100K, but the kg of gold is roughly $140k-150K (I just checked and its $144K)

  But then I’d have to sell the gold…

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• Catoblepas@lemmy.blahaj.zone ⁨11⁩ ⁨hours⁩ ago

  So only go with bills if they’re in denominations >$100. I guess this would work better with euros.

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• TheTechnician27@lemmy.world ⁨11⁩ ⁨hours⁩ ago

  I agree: you’d probably pawn the gold off to some billionaire for some nominal amount less than its face value. (Would the government would let you as a private citizen just sell them like $70 million in gold?) I’m assuming this is legal, in-the-clear, and it doesn’t matter if we assume it was created out of thin air.

  I say “less than” because the buyers know you probably lack connections and just want it gone ASAP so you’re not robbed or worse. Still, whatever percentage hit you take can’t be anywhere near the 40% difference between the cash and the gold.

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