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Wouldn't you need to use that $3000 coin to pay $3000, ie use it for its face value, for this loophole to 'work'? In which case it would not be very useful...
by mytailorisrich 4y ago
Wouldn't you need to use that $3000 coin to pay $3000, ie use it for its face value, for this loophole to 'work'? In which case it would not be very useful...
If you use it to pay $88k then the transaction is obviously $88k although you've then paid in gold, not cash.
I feel that this is a "you can't have your cake and eat it too" situation.
- ISL 4y agoIt allows you to acquire coins over time, then use them later to move wealth in a less-traceable way.
- mytailorisrich 4y agoSo you mean buying gold and using gold? That has nothing to do with the 'loophole' previously described.
- ilyt 4y agoYou could just do same thing with normal money tho ?
- hervature 4y agoJust hypothesizing, do not actually know if this is the mechanism, but it is entirely possible that by storing gold with a broker could allow them to access the value in order to make other investments. Essentially, having cash as collateral means having it in a bank and subject to these restrictions whereas gold in a 3rd party vault might not be but still give you the same access to credit.