You don’t sell the gold. You take 10x loans of gold’s worth and use it as collateral. Like banks and billionaires do. Well maybe 100x…
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peteypete420@sh.itjust.works 2 weeks ago
Cash, the value be dammed. Im not trying to sell fucking gold. Im not a fucking merchant
nuko147@lemmy.world 2 weeks ago
Mouselemming@sh.itjust.works 2 weeks ago
Besides, you never know when the FBI might show up.
OddMinus1@sh.itjust.works 2 weeks ago
I could see FBI showing up if you try to do something with 500 kg of dollar bills as well.
unwarlikeExtortion@lemmy.ml 2 weeks ago
I’d choose gold. AFAIK most all money laundering rules deal with cash.
Even if a geine were to give you 500 tons of cash or gold, some governments may have a problem with that and choose to redistribute it.
Choosing gold makes the value much more liquid in my opinion.
Not to mention that gold doesn’t rot (unlike USD). In today’s economy gold is probably more value-dense (as in, a pound of gold is worth more than a pound of hundered-dollar bills).
Currencies also come and go but gold stays. If you’re thinking long-term, gold is the vastly better choice.
peteypete420@sh.itjust.works 2 weeks ago
If that works for you, fine. Im sticking with cash. The government doesnt know I have it, they wont know to look for it. And it wont start rotting in my lifetime.
mbp@slrpnk.net 2 weeks ago
you can visit my local pawn shop, they give cash for gold
70m in gold pls
JcbAzPx@lemmy.world 2 weeks ago
Okay, here’s your five dollars. Thank you for your business.
WolfmanEightySix@piefed.social 2 weeks ago
Depending where you are you might not be able to put a that amount of cash in your bank, although it’s easier to use.
peteypete420@sh.itjust.works 2 weeks ago
O, very little would actually get deposited. But all my groceries and eating out and booze and lots of video games and hobbie shit will just get paid for in cash.
AllNewTypeFace@leminal.space 2 weeks ago
If the gold is in an accepted standard form, such as krugerrands, you just need to find a precious metals dealer. If it’s just a pile of gold, then there’s a lot of hassle. I imagine ingots of the sort national gold reserves hold would be somewhere in between.
Shifting a large quantity of gold may require a non-optional explanation of its provenance, with “I woke up and it was just there” or “a genie gave it to me after I did an online quiz” not being adequate, and an inadequate explanation resulting in its forfeiture if not more serious legal hassles. With a large pile of gold and no good explanation, you may be reduced to smurfing small pieces of it to different dealers, moving around a lot and avoiding the attention that such a pile would inevitably draw.
ShellMonkey@piefed.socdojo.com 2 weeks ago
People like Al Capone would have a few things to say about unverified sources of wealth in any form. Pretty sure if I show up at a car dealer with a briefcase of bills it’ll raise a few questions too.
wonderingwanderer@sopuli.xyz 2 weeks ago
Yet another way society is biased against the poor. A rich guy shows up with a briefcase full of money and nobody bats an eye, it’s just another day. A poor guy shows up with a briefcase full of money and then suddenly everyone starts asking questions, and if he doesn’t have good enough answers he might get thrown in jail.
What if I mowed a rich guy’s lawn and he gave me a really big tip? No, I don’t remember his name. No, I didn’t keep the address. It was over there somewhere, go that way, it’s the big house with the mown lawn. You’ll find it, just keep looking…
Railing5132@lemmy.world 2 weeks ago
US law requires any cash transaction of $10,000 or more be reported to the IRS/Treasury Dept. to include the federal tax ID # of both parties/entities, and the deposit accounts involved.
thethunderwolf@lemmy.dbzer0.com 2 weeks ago
5002 $9999 transactions
Angryhumanoid@fedinsfw.app 2 weeks ago
Depends on the dealership, heh
stupidcasey@lemmy.world 2 weeks ago
Same would be required for 50M in cash not to mention Taxes.
Mac@mander.xyz 2 weeks ago
You don’t think you’ll be investogated for a massive gold transaction?
StaticFalconar@lemmy.world 2 weeks ago
I wonder if i should pick the option that is going to make someone else rich off their commission, or just cash?