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Crossing the Border with Physical Gold


 -- Published: Tuesday, 18 October 2016 | Print  | Disqus 

After doing a search for “gold news” earlier today the first story to come up was about an American smuggling 121 pounds of gold into Bolivia. That’s a lot of gold for an individual. 121 ounces is one thing but 121 POUNDS – WOW, that’s impressive. The gold is estimated to be valued around $1.5 million U.S.. The gentleman was also carrying “several pounds of silver” as well.

Of course, he is being treated like a “terrorist” or criminal or being looked at in ways that are probably far removed from the truth. My guess, he is just a person trying to get his gold out of the U.S. and into a safer place. Unfortunately, it didn’t work to well. Then again, there could be a lot more to the story that hasn’t surfaced yet.

How does a person get their physical gold out of the country and into a safe zone where one can live off the gold? Is airfreight using a service like UPS or FEDEX or another privately owned company the way to go? Smuggling your physical gold out of the country and then making a move once you arrive, presuming you arrive safely and all the gold intact.

As ownership of physical gold is being treated more like a crime than a protection of wealth what does a person do, especially, to get their physical gold across the border?

One idea would be to deliver your gold back into the market, take the funds from the transfer of gold to fiat currency and convert it to bitcoin or another cryptocurrency, move to the desired location and reverse the process. Not sure. Could be a solution, but it seems almost as risky as attempting to move physical gold across the border through smuggling or entering legally. Well, maybe not equally as risky, but a lot of risk involved in the situation. Going digital could prove to be extremely risky. The internet could get shut down, your account could hacked and the list goes on from there.

As Dave Kranzler suggested in our latest Shadow of Truth episode getting to the Florida Keys and having a merchant sailor take you and your gold to one of the non-American Caribbean islands could be an option. For the cost of couple of ounces of gold this may provide safe passage to another country. Another idea would be to find a “soft spot” along the Mexican border and walking your gold to another country. Both of these ideas are extremely risky for a number of reasons. One would have to think all the way through either of these scenarios to anticipate weakness’ within your plan. Going into Canada is probably not an option, although it might work, but remember Canada is going to less friendly than Mexico.

Another option could be BitGold. Simply deposit your physical gold then walk across the border and begin using your gold as you would any plastic fiat currency with the difference being, your gold is what you would be spending instead of fiat currency. You could also use your BitGold account to acquire physical gold, in hand, for storage at your new location instead being at the mercy of an electronic system. The person attempting to get his gold out of the U.S. and into Bolivia was not interested in the physical gold leaving his possession, for any reason, for any length of time! Who can blame him?

Maybe we can get Jeff Berwick on the case. I searched Dollar Vigilante for information on this topic and it came up empty. More than likely it is simply a case of not having the proper search terms, but we need more information on this topic. If there is anyone out there that has experience please send me an email using our contact form.

Click here for the article discussing the situation in Bolivia.

 


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 -- Published: Tuesday, 18 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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