Any FReepers experiencing this?
"I see you have a lot of money. Based on that, I suspect that you are a drug dealer. Since you are a drug dealer, I am going to confiscate your money. And there is no recourse for you to get it back. Have a nice trip."
Gold and silver are worth current market.
If you cross the border with ten ounces of gold — you have crossed it with more than $10,000.
Remember, if you give someone a $50 denominated gold coin for doing work for you, the IRS values that as a transaction at the current market value of the gold in the coin.
(At least I think I heard that somewhere)
Suspicious by nature, my first question is “Does Doug sell gold or silver, or does the article in whatever venue this article is hosted offer their consultative services in matters relating to this?”
I have invested all of my money in china, crystal, and silver. I’m rich, according to replacements.com.
Because everyone travels across international borders on a weekly basis with a briefcase full of silver. Nothing suspicious about that.
I think there’s a business opportunity for someone able you make 2oz, 24K gold belt buckles painted to resemble stainless steel.
I'm not saying BitCoin is the answer, but some form of digital currency that government had no control over would shift the balance-of-power back to individuals and away from the global totalitarian government they want so badly.
Ping.
I remember reading years ago about an employer who paid his staff all in pre-1965 silver US coins and declared the face value for tax purposes. My recollection is that the IRS challenged him but he got away with it since the coins were legal US tender. I just did a search and couldn’t find the story, perhaps it would no longer be permitted.
Elsewhere in the article the author laments the fact that banks are reducing the numbers of safe-deposit boxes. Anyone who would store precious metals or even paper cash in a bank safe-deposit box is out of their $%)*ing minds!
Had a 10 oz. silver bar and a 1 oz. gold bar in my brief case on one trip. The TSA agent held them over his head and yelled what are these? (dumb ass) I had to explain what they were to his boss. I use them to calibrate mining equipment. So he asked where is my equipment? I very nicely told him it was none of his G.D. business. I had to finally explain we ship it by secure transport not airlines so the TSA will not damage it.
I guess you could convert your assets into rare baseball cards or postage stamps and get them through customs. (You can always keep the certificates somewhere else/send via mail). Converting them back into liquid assets would take time and you would lose money.
Maybe you could put some diamonds in a tacky arrangement to look like a cheap costume jewelry piece.
Melting down PMs into auto parts might be a good way to transport out money. Hiding in plain sight, you could make a platinum bumper, or an engine part.
I do remember a story where a guy tried to smuggle out some miniature gold Eiffel Tower souvenirs but he was actually caught by customs. It is true that the little gold coins (Swiss miss, French roosters) which have some copper content, can look like pennies especially if they are a little dirty.
I wonder what laws Canada or Mexico have with regards to taking money out. I don’t think it would be too hard to get something into Canada.
A European acquaintance worked as a contractor in a country where Gold was relatively cheap. He bought a large about of Gold Jewelry, placed it on himself, his wife and his children and through customs. He later sold it for a huge profit. This was a long time ago so I’m sure they’ve closed a lot of loopholes.
I knew a family of Cuban-Americans who fled their home when Castro took over. Most of their wealth was confiscated but they retained a small chest of U.S. $5 gold coins. Before leaving Cuba they hired a jeweler to fashion necklaces, bracelets, belts, rings, earrings, etc. from the gold pieces. When they got on the airplane some of the younger children were staggering under the weight. But they landed in the U.S. with a nest egg to start a new life.
Well if all trade w china has to be pased through pms 1st...then lots of people are going to be toting heavy luggage.