The Overseas Chinese, those who were forced to flee China under regimes back as far as 2,000 years ago, have their caches of precious metals made into all kinds of day to day necessities, from buttons and buckles, files, pens, clippers, razors et al and transport their wealth easily as they go from country to country.
The great jewelers in history were very adept at camaflaging wealth as necessities and objet d'artes not known too well to the average government thug.
This kind of capital transfer has been the stuff of history and I doubt that anyone can claim a new concept since it has all been done before!
Thursday, April 19, 2012
Ancient Ideas on How to Hide Your Wealth
As a follow up to my post on the scientist who hid his wealth by shaping platinum into thin wire and then into hangers that fooled border agents, a commenter writes:
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Yeah, but where do find someone to do such things now? These are likely lost skills.
ReplyDeleteModern Way to Hide Your Wealth:
ReplyDeleteCreate a "brain wallet" using bitcoin and walk across borders with your money stored in your brain:
Mental Wallet
https://bitcointalk.org/index.php?topic=35082.0
Bitcoin: The Ultimate Offshore Bank Account?
http://wp.me/p1adwa-2N
Bitcoin isn't backed by anything of value. It's backed by server time. How is that any better than fiat money, backed by debt?
DeleteThey are not lost skills, Anonymous @ 05:29 PM, not by a long shot.
ReplyDeleteIt's not such a hard thing for anyone to do either.
Heck, I watched a forklift driver who was nobody special turn a quarter into a ring using nothing but a pocket knife and a spoon while he was sitting in between loads. I thought it was funny And cool.
Great ideas...for now. Eventually they just won't let you leave the country at all. And they'll prosecute and imprison bloggers who provide tips on how to subvert the glorious homeland's border "protectors." really, be careful, Mr. Wenzel. How much sympathy do you think you'll get from the American people for helping "the wealthy" expatriate their "ilicit" unreported (the horror!) wealth?
ReplyDeleteBitcoin is not backed by anything but neither is gold.
ReplyDelete"Bitcoin is not backed by anything but neither is gold."
ReplyDeleteNow that's funny.
Um, the secondary uses of gold is what "backs it".
I have yet to hear of any secondary uses for bitcoins, in fact, I'd say bitcoins aren't really anything at all.
@ 10:49:
ReplyDeleteBitcoin does not need a "secondary use" - all it needs is a "use" that is valued. Search "Subjective Theory of Value". Currently, bitcoin is valued to the tune of $46,000,000. See http://www.bitcoinwatch.com
See:
ReplyDeleteBitcoin - A New Commodity Created To Serve Market Demand
http://wp.me/p1adwa-28
See:
ReplyDelete"Bitcoin is Backed by Me"
http://wp.me/p1adwa-3j