Gold and Silver hoarders

[NEbaD]

How are you reporting your bitcoin capital gains? Or just running with it til you face an audit to explain the bitcoin to hard currency transactions?

This is something that has made me hesitate going digital after having an account scrutinized by a bank account on the request from CRA. I had all the answers and had done nothing wrong. It was a regular check by the Govt and banks.

Naw, when I started my investment was so small, only $1,500, nothing to worry about in terms of scrutiny. When it got close to 10k (and I was far more savvy) I moved it all to an anonymous wallet. Now, I can withdraw it from that wallet cash from coffee shop atm's 5k/10k per day as I buy my coffee in the morning, if I want, or if I want to withdraw more (eg. House, car) there's plenty of options. I can open another wallet and move to that wallet as much as I want to declare for investment income, or I can take a vacation to Belize and purchase a shelf company while there, or I can declare them casino winnings. That's just off the top of my head; it's completely anonymous, so your only limit is your creativity. I'm a straight shooter though, and I have plenty of overhead built up for investment income, so I plan to hire a good accountant and just pay my taxes.

 

[cktc9]

Crypto's anonymity may be a delusion:

https://www.cnbc.com/2017/10/20/usi...wich-could-trigger-a-tax-bill-commentary.html

Second paragraph under the red highlight writing, halfway down, has "engage in illegal transaction" in blue writng:

"And some have relied on that sense of anonymity to use crypto currencies to engage in illegal transactions. Unfortunately for them, however, bitcoin and other crypto currencies are not anonymous. The IRS has developed block chain tracking technology that allows them to ferret out users despite the reputed anonymity that Bitcoin addresses provide."

 

[summerbreeze]

"Bill Gates just converted 45 billion, half his money into crypto, two weeks ago. Easier to move around. He's not the only one, check the news."

actually people like Gates don't have billions of dollars sitting in banks, most of his net worth is in stock and other hard assets (mainly microsoft stock) in aug 2017 he made a $4.5 billion donation in which he gave away the equivalent of that money in microsoft stock

if what you are saying is true and he converted $45 billion of his net worth into crypto currency it would mean that he would have had to sell $45 billion worth of microsoft stock to do it. suspect that would have made the news which of course it didn't

suggest you check your source because if Bill Gates had sold $45 billion dollars worth of microsoft stock it would have been front page headlines for 2 weeks together with the stock market crash it would have triggered

 

[poonmiester]

All tthese electronic ways of transferring and paying and storing money is all good.... until power fails.... then how do you get money... how do you buy a bottle of water ...or tank of gas... no power... no money....
People today don't carry cash ....pay a $1.50 cup of coffee with either debit or credit.... when you go and purchase something and give cash...clerks are all confused having to count the change you are suppose to get back....
And all of us using debit and credit....for anything and everything we buy... just let's the government know of how much money Canadian have to dispose of.....well look at that Canada spent $750,000 in buying coffee last month at Starbucks.... well we can find some kind of user fee somewhere that we can go and get $250,000 of that..... they can cut on their coffee to pay up... and so on... good idea with a these cards... very smart.... bitcoin... all good as long as power is firing up the servers and computers... pull the plug and see what happens....

 

[summerbreeze]

"Bill Gates just converted 45 billion, half his money into crypto, two weeks ago. Easier to move around. He's not the only one, check the news."

actually people like Gates don't have billions of dollars sitting in banks, most of his net worth is in stock and other hard assets (mainly microsoft stock) in aug 2017 he made a $4.5 billion donation in which he gave away the equivalent of that money in microsoft stock

if what you are saying is true and he converted $45 billion of his net worth into crypto currency it would mean that he would have had to sell $45 billion worth of microsoft stock to do it. suspect that would have made the news which of course it didn't

suggest you check your source because if Bill Gates had sold $45 billion dollars worth of microsoft stock it would have been front page headlines for 2 weeks together with the stock market crash it would have triggered

actually, I doubt he even has that much microsoft stock left. probably down to his last $15 billion

berkshire hathaway stock another matter, suspect he has substantial portion of his foundation's portfolio with Warren

the Gates foundation has be diversifying out of the tech sector for some time now, companies like Caterpillar, Walmart, Waste Management, Railroads, why would a guy who is vacating the tech space sell his portfolio and buy crypto currency, he isn't gunning for speculative appreciation of the asset, he is betting on solid cash flow generating companies

 

[FreeG]

^ Completely agree (on the cash-useless bit; too ignorant to add intelligent comments on digital currencies...).

If you want to plan for the worst, stock up on a generator, fuel, food, and yes (I must admit): guns & bullets. If nothing else, guns & bullets can, theoretically if you know what you're doing, help feed the family. In worse case, it protects you from others who are desperate. And its a reason why a sliver of me sympathizes with those in America reluctant to give up their guns - its not so much their fear of the govt (what are they going to do against anything more armored than a HUMVEE anyway???) but the fear of others coming to their home and their desire of independence from reliance of govt/police/etc. But further discussion on that is best left for another thread, aight?

 

[sybian]

I had just moved and had not bought any food at all and the power went out. I walked first to a hospital figuring backup power, no food, then to Chinatown where I paid a lot of money for a little food. The amazing part was walking there, in the middle of a city and it was pitch black like I was in the woods.

If we have a power grid failures your guns won't save you nor will the police. You'll have looting & robbery. The woods will be the safest place because the reality is most people don't have the skills to survive in the woods. If shit does go south I'd recommend Northern Saskatchewan.

Or the Interior.......with my cattle, grass ,flowing water, and endless supply of wood for cooking and heating, we could support legions of friends here.
A set of Boobs gets priority living space, and my bed fits three....or four ,if the women are skinny...which helps with thermal mass in winter.

 

[storm rider]

I had just moved and had not bought any food at all and the power went out. I walked first to a hospital figuring backup power, no food, then to Chinatown where I paid a lot of money for a little food. The amazing part was walking there, in the middle of a city and it was pitch black like I was in the woods.

If we have a power grid failures your guns won't save you nor will the police. You'll have looting & robbery. The woods will be the safest place because the reality is most people don't have the skills to survive in the woods. If shit does go south I'd recommend Northern Saskatchewan.

Uh yeah if society breaks down a good sized gun collection and a shitload of ammo would be worth 20 times their weight of DIAMONDS especially if you have a self sustaining slice of paradise....meaning your own garden and self replicating meat stocks such as pigs/chickens.

People wont LOOT if you can SHOOT.....especially if you have a lot of firepower....and no I am not a gun NUT.I do have a valid PAL but have only 1 rifle.

Way off topic but I had to respond.

SR

 

[NEbaD]

Diamonds are just shiny pieces of rock. If it wasn’t for DeBeers marketing and manipulating the supply they wouldn’t be worth nearly what they are. They are a total WOM.

Total derailment here, but I find diamonds abhorrent. So I had to respond.

As I understand it, diamonds never used to be a thing, until around the mid 1940's. Anyone know the story?

 

[storm rider]

As I understand it, diamonds never used to be a thing, until around the mid 1940's. Anyone know the story?

That was probably brought about by a Jeweller who convinced suckers they had to spend 6 months worth of earnings on an engagement ring.....6 months of earnings!!!! FUCK THAT.....I just got paid $3970 today and that was after deductions and that was for 2 weeks.....do the math and it comes to roughly $22,000 for a ring that contains maybe $300 worth of gold and has a shiney stone on it.....not fucking likely.If the marriage does not last goodbye $22,000 ring as well as half of your net worth and if you had kids and the spouse never worked the support payments etc will cost you around 1 MILLION.

SR

 

[summerbreeze]

yes, one of the best marketing campaigns of all time

condition the consumer that wedding and engagement ring must be diamond
(or condition the user, not the purchaser i.e. girlfriend, fiance, wife that the only way your significant other can express his true love is to buy you a diamond)

then tie up the mines, cutting, fitting, distribution (whole supply chain)

which is what they did for a long time

 

[sybian]

But to each their own. If some feel overpriced shiny rocks are proof of love, whatever floats their boat. Not my circus, not my monkeys.

Diamonds are rare, and size does matter.......some are so small they can only be used for industrial applications.
They are also the hardest natural substance on earth, making them the most difficult to work, and shape.
Then there is flaws and clarity, I know some small time diamond buyers that will only invest in "D" clarity or better diamonds, with small inclusions that are more than a carat in size, as they know they've not gone through manipulation to hide the quality.
You are right, with all things in this world there are set values...with the exception of fine art.....that is manipulated by companies, or individuals with financial interests in that commodity.
Russia has vaults full of diamonds, that are released in small amounts by their Government. If they released only one vault in a single year and put that stock on the world market...it has been estimated that the world diamond price would plummet by 70 to 80 percent.
I suppose a hard shiny, and very expensive stone, set on a gold band has been marketed to death, to fleece money out of men, to prove their affection to another person....I know I've put a ring on a woman's finger once.....She was a strong 9 1/2 in looks.....and that ring had some big expensive stones in it, and you couldn't help but notice them.
I suppose I fell into that marketing scheme......but it sure took care of the young Cowboys wanting to hit on her, when I wasn't around.

 

[Damaged]

Diamonds are rare, and size does matter.......some are so small they can only be used for industrial applications.
They are also the hardest natural substance on earth, making them the most difficult to work, and shape.
Then there is flaws and clarity, I know some small time diamond buyers that will only invest in "D" clarity or better diamonds, with small inclusions that are more than a carat in size, as they know they've not gone through manipulation to hide the quality.
You are right, with all things in this world there are set values...with the exception of fine art.....that is manipulated by companies, or individuals with financial interests in that commodity.
Russia has vaults full of diamonds, that are released in small amounts by their Government. If they released only one vault in a single year and put that stock on the world market...it has been estimated that the world diamond price would plummet by 70 to 80 percent.
I suppose a hard shiny, and very expensive stone, set on a gold band has been marketed to death, to fleece money out of men, to prove their affection to another person....I know I've put a ring on a woman's finger once.....She was a strong 9 1/2 in looks.....and that ring had some big expensive stones in it, and you couldn't help but notice them.
I suppose I fell into that marketing scheme......but it sure took care of the young Cowboys wanting to hit on her, when I wasn't around.

Well said Sybian

 

[overdone]

Diamonds are rare

no, that's a myth

perpetuated by the industry, which Debeers had an almost complete monopoly of

they aren't overly abundant, compared to some resources, but they are hardly as "rare" as the industry would like you to believe

there are at least 10 other gemstones that are far more rare

 

[sybian]

Yes like emeralds.....but still in the top ten.
I know a little about the mining of diamonds and kimberlite deposits....large diamonds are rare.....industrial quality is common.

Some mines produce about 3 to 8 carats per tonne of ore kimberlite. Yet some value must be placed on the cutting, mining, and security, but if you review my entire post, I somewhat agree with you.....Russia has millions of carats of product stored away from the last few hundred years.
About 21% of every diamond harvested is put back into marketing....which shows skewed management.
Debeers invaded the NWT illegally,as did the Americans, in the diamond rush up there. They started driving claim stakes in the ground before getting permits.
The US even made a claim that Canada didn't actually own the NWT, and tried to say that perhaps it was in fact part of Alaska. The interest was over mineral and fossil fuels.

 

[summerbreeze]

thought this thread was about currency

gold is a currency but not actively traded for goods like money, it was a universal international currency and a standard which backstopped paper money for governments at one time (gold standard)

gold is also used and associated with the jewelry industry which is how I suppose the topic of diamonds got started on this thread in regard to owning physical gold and jewelry as a form of savings (assets which go up and down with value which might have resale value)

not sure diamonds belong in a currency conversation though, bit of a thread hijacker

probably want to park the diamond conversation or take it up on another thread

 

[sybian]

thought this thread was about currency

gold is a currency but not actively traded for goods like money, it was a universal international currency and a standard which backstopped paper money for governments at one time (gold standard)

gold is also used and associated with the jewelry industry which is how I suppose the topic of diamonds got started on this thread in regard to owning physical gold and jewelry as a form of savings (assets which go up and down with value which might have resale value)

not sure diamonds belong in a currency conversation though, bit of a thread hijacker

probably want to park the diamond conversation or take it up on another thread

Nah......speaking for myself.....I pretty much talk about whatever I want....whenever I want.
It's part of my charm.
Sorry but I'm an acquired taste, and some don't like it, and I'm ok with that.

 

[Quarter Mile'r]

Just go on youtube and search....it is easy to find....and a bit of a watch but interesting....Germany is NOT part of the Nuclear Club and that is no small surprise.....the braintrust that was taken from Germany at the end of WW2 is pretty staggering.....a lot of Nazi scientists were moved out of Germany by the USA.

Yup and hard to believe that Wernher Magnus Maximilian Freiherr von Braun the father of the
Nazi Rockets (V2) actually designed and built the most powerful machine made by man.
The Saturn 5 Rocket that took the Apollo missions to the moon and back.
Amazing achievement for it's time when you consider the computers they used had the same
power as a texus instruments calculator back in the '90's.




.........................QM'r

 

[storm rider]

Yup and hard to believe that Wernher Magnus Maximilian Freiherr von Braun the father of the
Nazi Rockets (V2) actually designed and built the most powerful machine made by man.
The Saturn 5 Rocket that took the Apollo missions to the moon and back.
Amazing achievement for it's time when you consider the computers they used had the same
power as a texus instruments calculator back in the '90's.




.........................QM'r

Pretty disgusting that a Nazi scientist was scooped up by the USA and given safe passage to America along with a new life and had all of his SINS erased for the sake of "science".

SR

 

[summerbreeze]

Pretty disgusting that a Nazi scientist was scooped up by the USA and given safe passage to America along with a new life and had all of his SINS erased for the sake of "science".

SR

its called self preservation, the Russians scooped up German rocket scientists as well

was in the name of military defense, not science