What's the worst that could happen?

[matrawr]

Especially being in the UK I know that whatever is purchased with regards to silver is that it is subject to VAT at 20% and any undeclared earnings/profit could result in a tax bill. But is there any severe threat such as the government demanding I give them my stack? It just crossed my mind as I remembered what happened in Cyprus with savers money but if it can happen with money even if you own physical silver could something similar not happen?

 

[SpacePete]

Especially being in the UK I know that whatever is purchased with regards to silver is that it is subject to VAT at 20% and any undeclared earnings/profit could result in a tax bill. But is there any severe threat such as the government demanding I give them my stack? It just crossed my mind as I remembered what happened in Cyprus with savers money but if it can happen with money even if you own physical silver could something similar not happen?

Most people say no, that's just crazy talk. But the government is smarter that to just walk in a take people's assets. Maybe they'll first demonise hoarders of silver by associating them with criminals and terrorists. Maybe they'll introduce an onerous registry process for precious metal assets and an amnesty period for declaration with a token buyback price for those who wish to give up their stacks. After all that, only then shall they'll walk in and take unregistered stacks with the pretext of undeclared wealth.

 

[matrawr]

Especially being in the UK I know that whatever is purchased with regards to silver is that it is subject to VAT at 20% and any undeclared earnings/profit could result in a tax bill. But is there any severe threat such as the government demanding I give them my stack? It just crossed my mind as I remembered what happened in Cyprus with savers money but if it can happen with money even if you own physical silver could something similar not happen?

Most people say no, that's just crazy talk. But the government is smarter that to just walk in a take people's assets. Maybe they'll first demonise hoarders of silver by associating them with criminals and terrorists. Maybe they'll introduce an onerous registry process for precious metal assets and an amnesty period for declaration with a token buyback price for those who wish to give up their stacks. After all that, only then shall they'll walk in and take unregistered stacks with the pretext of undeclared wealth.

Would seem to make sense returning something of value to receive something of little or no value. So would only a purchase from eBay count as unregistered? I'll admit I've bought some from there but what if you purchased from a company? Would the government instruct individuals to return them?

 

[SpacePete]

Would seem to make sense returning something of value to receive something of little or no value. So would only a purchase from eBay count as unregistered? I'll admit I've bought some from there but what if you purchased from a company? Would the government instruct individuals to return them?

I don't know about the UK, but in Aus the government wouldn't know about smaller purchases made from companies because presently there is no reporting requirement for anything under $10k (but the dealer would have to still keep records). Of course, if you pay via card then the government has all that information already thanks to existing data feeds for taxation purposes.

I'm sure initially it wouldn't be worth anyone's time or money to go after small time stackers so even in the worst case I think most of us would be fine. It is only later, when there are no more big fish and the various government departments and enforcement agencies need to justify their budgets and their existence that the targets will become smaller and smaller.

 

[Skyrocket]

Would seem to make sense returning something of value to receive something of little or no value. So would only a purchase from eBay count as unregistered? I'll admit I've bought some from there but what if you purchased from a company? Would the government instruct individuals to return them?

I don't know about the UK, but in Aus the government wouldn't know about smaller purchases made from companies because presently there is no reporting requirement for anything under $10k (but the dealer would have to still keep records). Of course, if you pay via card then the government has all that information already thanks to existing data feeds for taxation purposes.

I thought the Oz reporting requirement was for anything over 5k ?

 

[SpacePete]

Would seem to make sense returning something of value to receive something of little or no value. So would only a purchase from eBay count as unregistered? I'll admit I've bought some from there but what if you purchased from a company? Would the government instruct individuals to return them?

I don't know about the UK, but in Aus the government wouldn't know about smaller purchases made from companies because presently there is no reporting requirement for anything under $10k (but the dealer would have to still keep records). Of course, if you pay via card then the government has all that information already thanks to existing data feeds for taxation purposes.

I thought the Oz reporting requirement was for anything over 5k ?

Good question. I thought that was for mandatory record keeping, but maybe the reporting requirement has been lowered?

 

[matrawr]

Well thanks for your input guys at least I know my stack is relatively safe for now until the government starts turning their attention to us we can breathe a sigh of relief lol.

 

[randomname]

look, people have different views on confiscation.

my view is: absolutely, it has happened before and will happen again. conversely, i respect others' opinions if they believe it is unlikely or impossible. make your own decisions and be happy with them.

but i'll end the topic with this: governments have been infiltrated by the biggest crime syndicate in all of human history. they lie to make wars for profit, and obviously murder millions and take resources for more profit. they violate laws and constitutions for their financial gain. they created fraudulent paper currency to fleece billions of people. they approve medicines which are known to be deadly just to make more profits and reduce the population. there is nothing they won't do to take away the assets of every human on the planet.

so what makes anyone think that gold is something special and is exempt from all that? if you look at the evidence, these same people have stolen and pawned all of the western gold reserves. the gold in the US fed actually belonged to the treasury and the US people (and other governments) so what right do they have to not audit that gold and return it to the rightful owners (e.g.: germany and the US citizens)? the west in in deep trouble with having little gold and they will DESPERATELY need to get as much as they can steal. XXX tons from libya, XXX tons form ukraine, canada, venezuela... etc. what happens when all the big stashes run out? they go after the smaller fish.

remember, they are criminals. you have what they want. it is highly possible or probable that they find some way to take what they want, be it legal or otherwise. criminals always persist until they are incarcerated or dead. beware of them.

 

[Skyrocket]

I don't know about the UK, but in Aus the government wouldn't know about smaller purchases made from companies because presently there is no reporting requirement for anything under $10k (but the dealer would have to still keep records). Of course, if you pay via card then the government has all that information already thanks to existing data feeds for taxation purposes.

I thought the Oz reporting requirement was for anything over 5k ?

Good question. I thought that was for mandatory record keeping, but maybe the reporting requirement has been lowered?

I'm just going by what Goldstackers requirement -


What are the thresholds?

For single orders from Gold Stackers under $5,000 AUD, no customer identification is required.

For single orders of $5,000 AUD or more from Gold Stackers, customer identification is required.

Orders can not be shipped until customer identification procedures have been completed.

At times Gold Stackers may elect to request customer identification based on transaction patterns and history. Under no circumstances can we structure transactions, or discuss the structuring of transactions, to avoid customer identification or reporting requirements.

http://www.goldstackers.com.au/store/id-requirements/#answer2

 

[matrawr]

look, people have different views on confiscation.

my view is: absolutely, it has happened before and will happen again. conversely, i respect others' opinions if they believe it is unlikely or impossible. make your own decisions and be happy with them.

but i'll end the topic with this: governments have been infiltrated by the biggest crime syndicate in all of human history. they lie to make wars for profit, and obviously murder millions and take resources for more profit. they violate laws and constitutions for their financial gain. they created fraudulent paper currency to fleece billions of people. they approve medicines which are known to be deadly just to make more profits and reduce the population. there is nothing they won't do to take away the assets of every human on the planet.

so what makes anyone think that gold is something special and is exempt from all that? if you look at the evidence, these same people have stolen and pawned all of the western gold reserves. the gold in the US fed actually belonged to the treasury and the US people (and other governments) so what right do they have to not audit that gold and return it to the rightful owners (e.g.: germany and the US citizens)? the west in in deep trouble with having little gold and they will DESPERATELY need to get as much as they can steal. XXX tons from libya, XXX tons form ukraine, canada, venezuela... etc. what happens when all the big stashes run out? they go after the smaller fish.

remember, they are criminals. you have what they want. it is highly possible or probable that they find some way to take what they want, be it legal or otherwise. criminals always persist until they are incarcerated or dead. beware of them.

I thought I remember reading somewhere on here that the US government convinced people to hand over their gold is that correct? But whatever they can't control they deem a threat so therefore they end up taking whatever we have and taking control of the situation that way.