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UnspecificGravity@piefed.social 13 hours agoAnother 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.
red_bull_of_juarez@lemmy.dbzer0.com 13 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.
Themosthighstrange@lemmy.world 9 hours ago
“after a while someone would still want to know where the gold came from”, five minutes after the cash has been exchanged, you’ll be quickly forgotten about. You don’t live in a damn csi episode