Businessman stopped on Swiss border with £1.6m worth of gold in his car

[EE_]

Yahoo! News – 11 hours ago....

An Italian man attempting to cross the Swiss border has had 50 kg (110 lb) of gold seized by police.

The gold, worth around £1.6m (€2m), was found in a hidden compartment in his car. The businessman and his daughter, who was also in the car, have both been charged with smuggling.

The incident underlines a growing trend of Italians who are seeking to move wealth to Switzerland - funds that Italy is trying to have the Swiss authorities tax retroactively. Exports to Switzerland from the financially stricken country rose 35% year-on-year in February, with the Italian statistics office admitting it was mostly due to “sales of non-monetary gold”.

The amount of gold exported from Italy is jumping year on year, with 120 tonnes of the stuff moved to Switzerland in 2011 [a 65% rise on 2010]. As the Italian economic outlook continues to worsen, many have chosen to buy gold in order to retain wealth.

Italian Prime Minister Mario Monti has promised a crackdown on tax evasion as it was claimed that more than £96 billion [€119.6bn] in taxes were dodged Italy in 2009.

http://uk.news.yahoo.com/businessman-stopped-on-swiss-border-with-%C2%A31-6m-worth-of-gold-in-his-car.html

[Uncle Salty]

That would suck.

Why was the guy so suspicious that they were checking hidden compartments I wonder?

[General of Darkness]

I just realize that I don't have a receipt for my silver other than it's in my possession but doesn't the law state the possession is 9/10's of the law. Man this world is beyond fucked up.

[BabushkaLady]

I just realize that I don't have a receipt for my silver other than it's in my possession but doesn't the law state the possession is 9/10's of the law. Man this world is beyond fucked up.

You're thinking about divorce! ;D

[General of Darkness]

You're thinking about divorce! ;D

Well I was thinking about this guy. How does he prove it's his gold?

[BabushkaLady]

Well I was thinking about this guy. How does he prove it's his gold?

He's screwed. They just want to CONfiscate.

I'd rather own PM's without a receipt, then give TPTB a bullseye credit card receipt to track it down.

[Gaillo]

Little guy tries to take his earnings, a paltry million+ across a border, he's SCREWED.
Elite criminal globalist scumbag bankers move BILLIONS in stolen loot from country to country... and NOTHING is done.

What a world.

[Xizang]

Well I was thinking about this guy. How does he prove it's his gold?

This is one reason why I'm a Libertarian. Why would he have the burden of proof that it''s his? Shouldn't the government have the burden to prove that it's not his? And besides that, what's wrong with moving your property with you? Marxist politicians assume that all money belongs to the government, instead of the person who earned it?

Never, ever trust government. And don't trust politicians who claim that government is the answer to your needs.

[collector]

I don't remember who did this, but didn't someone have their gold made into a car bumper and simply drive it across a border? It would seem that a little creativity could get around these ridiculous charges of "smuggling" by just going on a road trip while carrying around some of your wealth

[sirgonzo420]

That would suck.

Why was the guy so suspicious that they were checking hidden compartments I wonder?

Maybe he was all sweaty and shaky with bloodshot eyes because he was carrying all that damn gold, knowing that highwaymen would love to steal it from him.

[Awoke]

He should have done multiple trips with smaller amounts of PMs.

[EE_]

I wonder how many wealthy individuals consider valuable coins to smuggle their wealth out of a country? A multi-million dollar coin could be worn around your neck in a pendant and no one would be the wiser.
I can't think of anything smaller with greater value, then rare coins.

one example
http://indianheadeagle.com/wp-content/uploads/2011/03/1907-Rolled-Edge.jpg
1907 Rolled Edge Eagle - $2.2 million

[collector]

Wouldn't that be a problem trying to trade it for cash? Seems that something that valuable would trigger a lot of reporting

[palani]

He should have done multiple trips with smaller amounts of PMs.
How do you know that is not what he WAS doing? He might consider the amount transported "pocket change".

[madfranks]

I don't remember who did this, but didn't someone have their gold made into a car bumper and simply drive it across a border? It would seem that a little creativity could get around these ridiculous charges of "smuggling" by just going on a road trip while carrying around some of your wealth

Now there's an idea! I agree, there would be many creative ways to move the gold, hidden in plain sight as they say.

[JDRock]

...in yester year we had to worry about indians and highway bandits....today we must worry only about governmental types.

[JDRock]

Well I was thinking about this guy. How does he prove it's his gold?
how in the hell does the gov. prove its THEIRS??

[collector]

Food for thought;
Fill the roll bars in a Jeep Wrangler with coins, weld back in place, powder coat finish
Fill a pipe with coins, weld into place on the car's undercarriage - have professionally undercoated

What's good about a Wrangler is that so many of those get customized so there's really not a lot that are left standard. An occassional extra rod or support wouldn't be noticed as much as it would on a Chevy Cavalier or Toyota Camry

...my 2 cents

[Uncle Salty]

how in the hell does the gov. prove its THEIRS??

It's not a matter of ownership. The guy doesn't need to prove it is his. His gold is being confiscated not because he can't prove it's his, but because there are silly rules about taking it across borders.

[Uncle Salty]

I wonder how many wealthy individuals consider valuable coins to smuggle their wealth out of a country? A multi-million dollar coin could be worn around your neck in a pendant and no one would be the wiser.
I can't think of anything smaller with greater value, then rare coins.

one example
http://indianheadeagle.com/wp-content/uploads/2011/03/1907-Rolled-Edge.jpg
1907 Rolled Edge Eagle - $2.2 million

I wonder what the buy/ask spread is on a coin like that. Must be high.

[collector]

It's not a matter of ownership. The guy doesn't need to prove it is his. His gold is being confiscated not because he can't prove it's his, but because there are silly rules about taking it across borders.

yup, it's all about tarriffs and customs tax.

[madfranks]

Food for thought;
Fill the roll bars in a Jeep Wrangler with coins, weld back in place, powder coat finish
Fill a pipe with coins, weld into place on the car's undercarriage - have professionally undercoated

What's good about a Wrangler is that so many of those get customized so there's really not a lot that are left standard. An occassional extra rod or support wouldn't be noticed as much as it would on a Chevy Cavalier or Toyota Camry

...my 2 cents

I was thinking you could bury the coins in the upholstery of the seats. Cut out a chunk of the foam, put the coins in, cap it with the foam, re-upholster, there ya go.

[mick silver]

when did it before a law to own stuff . hell the banks rob people everyday do they go to jail f no they dont . the day is getting shorter for people to live free . didnt are fed guy say that gold had no place as money then way rob a person with it ............

[collector]

I was thinking you could bury the coins in the upholstery of the seats. Cut out a chunk of the foam, put the coins in, cap it with the foam, re-upholster, there ya go.

I like that one !! It could also help with the lower lumbar support :^)

I tend to think that what they typically look for is drugs, cash or any contraband so metal won't alert dogs and metal in a place where one would expect to find metal wouldn't alert any suspicion, even with an x-ray or density scan. I'm not too sure about available space but I would also think that some could be kept in the bottom of an automatic transmission pan, radiator, or oil sump pan might also be a decent place to store some coins for a weekend trip across the border.
Just think about how many gold maples could be stored in a hollowed out, in-dash car radio - while the radio might not work those golden oldies would be worth the silence or road noise :^)

Here's another one - empty the plates out of the battery, fill with appropriate metal. Keep in the trunk - an extra battery, booster cables(to actually start your car), gas can, quarts of oil, trans and radiator fluid and some spark plugs and cables. It'll look like you're just prepared for a break-down and since your car can run even without a battery once it's been started, no one would know the actual battery under the hood is just a shell

[Serpo]

He should have done multiple trips with smaller amounts of PMs.

Maybe he is and this is his smaller trips..........

[Uncle Salty]

Maybe he is and this is his smaller trips..........

Ha ha ha. Exactly. He is sitting on tons of the barbaric relic. Heck, maybe this was just a diversion and the big batch got through.