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peteypete420@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

• AllNewTypeFace@leminal.space ⁨1⁩ ⁨month⁩ 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.

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  • ShellMonkey@piefed.socdojo.com ⁨1⁩ ⁨month⁩ 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.

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    • wonderingwanderer@sopuli.xyz ⁨1⁩ ⁨month⁩ 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…

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    • Railing5132@lemmy.world ⁨1⁩ ⁨month⁩ 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.

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      • thethunderwolf@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

        5002 $9999 transactions

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    • Angryhumanoid@fedinsfw.app ⁨1⁩ ⁨month⁩ ago

      Depends on the dealership, heh

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  • stupidcasey@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Same would be required for 50M in cash not to mention Taxes.

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  • Mac@mander.xyz ⁨1⁩ ⁨month⁩ ago

    You don’t think you’ll be investogated for a massive gold transaction?

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  • StaticFalconar@lemmy.world ⁨1⁩ ⁨month⁩ ago

    I wonder if i should pick the option that is going to make someone else rich off their commission, or just cash?

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• nuko147@lemmy.world ⁨1⁩ ⁨month⁩ ago

  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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• Mouselemming@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

  Besides, you never know when the FBI might show up.

  www.msn.com/en-us/news/crime/…/ar-AA24htDu

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  • OddMinus1@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

    I could see FBI showing up if you try to do something with 500 kg of dollar bills as well.

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• unwarlikeExtortion@lemmy.ml ⁨1⁩ ⁨month⁩ 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.

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  • peteypete420@sh.itjust.works ⁨1⁩ ⁨month⁩ 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.

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• mbp@slrpnk.net ⁨1⁩ ⁨month⁩ ago

  you can visit my local pawn shop, they give cash for gold

  70m in gold pls

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  • JcbAzPx@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Okay, here’s your five dollars. Thank you for your business.

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• WolfmanEightySix@piefed.social ⁨1⁩ ⁨month⁩ 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.

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  • peteypete420@sh.itjust.works ⁨1⁩ ⁨month⁩ 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.

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