Author Topic: What to do with your gold bars or the proceeds on the sale therein.  (Read 6851 times)

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DINDO BAYAUA

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I was reading the posting on the transporting of gold bars and it touched something during our recent convention, the new plunder law was discussed, especially for government employees and officials.

If you ever retrieved more than enough gold bars, will you sell it all at once and deposit the proceeds in a bank? Of course you may but take note of this:

1. If you are a government employee/official, and it became a common knowledge that you have a bank deposit of more than P500,000 PhP that is beyond your capability to earn thru your income, then they can charge you with PLUNDER thru UNEXPLAINED WEALTH especially if your cash deposit is not specified or declared in your SALN (Statement of Assets, Liabilities and Networth) and the bank secrecy law flies to the window in your case. Your account will be open for verification, it will be freezed during the pendency of the case.

2. Even bank certificate of authenticity on gold so that you can open an account abroad could now be traced, unless you opened your account in a certain bank in the Bahamas.

3. To prevent this, one must not deposit more than half a million PhP in a bank (preferably on private banks, not the government banks), and use SEVERAL DEPOSITOR'S if you must.

In the case of private citizen, if you did not pay your Income Tax or there is a big difference in the filed BIR statement then they can still freeze your assets just the same.

So in the case of treasure hunters, would it be much better to put up a vault in a SECRET ROOM where you can keep all the proceeds?; or sell only enough gold for your use in a year?

As for secret rooms, make a room, preferably 1.2 meters width and cover it with a fixed built-in cabinet with the door as false wall. Place shoes in it so not to make it obvious and never let the children know it.

« Last Edit: July 11, 2011, 11:35:03 PM by DINDO BAYAUA »

Offline Gener

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #1 on: July 11, 2011, 09:04:54 PM »
Those are very good and helpful informations...
**One very good trick is open a company abroad,then later on make your own salary so high and then transfer them to any banks in the Philippines..The only problem is bringing that much amount abroad is an ardous and difficult task to do but still manageable. Later on no one will ever ask you where your money comes..
**But the best way to do it, make your own hidden vault. Gold is as good as cash deposit as prices never falls down, but sometimes it will not give you peace of mind as someone maybe digging under your home unnoticed and you may end up empty!..
**And if your age is on retirement level,,,the best thing to do is spend most of your life around the world, eat the best food the world can offer,live in the finest hotels in the world and stay with the caravans of nice & soft beautiful roses!... :-X

DINDO BAYAUA

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #2 on: July 11, 2011, 10:10:30 PM »
Quote
live in the finest hotels in the world and stay with the caravans of nice & soft beautiful roses!...
- really the best  ;D ;D ;D

Offline boboi

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #3 on: July 11, 2011, 10:37:16 PM »
Db your posts leaves me pondering...good info.
..but i had in mind a solution,of course to include Gener's idea.

DINDO BAYAUA

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #4 on: July 11, 2011, 11:16:30 PM »
Care to share one of the best possible solution?
« Last Edit: July 11, 2011, 11:47:45 PM by DINDO BAYAUA »

Offline Czar

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #5 on: July 12, 2011, 12:20:03 AM »
Share the blessings not only to your relatives, but also to people in need or in any charitable institution ;)

Offline Gener

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #6 on: July 12, 2011, 02:18:00 AM »
I participated in one known charitable institution in north africa few years ago,,then i went back to the middle east for a year,,,i promised to return on that institution which i really did,,i was the main guest and given the red carpet...next a years electricity and water bills was brought to me,, :o...and i escape the scene with a smile!... ;) >:( ;D...

Offline adrian

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #7 on: July 12, 2011, 01:22:29 PM »
I participated in one known charitable institution in north africa few years ago,,then i went back to the middle east for a year,,,i promised to return on that institution which i really did,,i was the main guest and given the red carpet...next a years electricity and water bills was brought to me,, :o...and i escape the scene with a smile!... ;) >:( ;D...
This, Donating some of the money.

Offline ghost

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #8 on: July 12, 2011, 04:38:17 PM »
Share some of the blessings to the Church, the charitable institutions, and help put up a cooperative for the farmers giving them seed money to start. Then put up a little business to support the need of the coop so as not to attract attention where you get your "huge money". The hidden vault will be a must but not inside my home probably outside where it is not expected as the Japs did. That of the nice caravan of nice, soft, beautiful and sweet roses can wait.  :D ;D ;) Or considering banks in the Cayman Islands, lots of roses also there to pick from.

DINDO BAYAUA

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #9 on: July 12, 2011, 05:42:31 PM »
You know, putting up a cooperative is a great idea, it helps uplift or augment the minimal source of livelihood of the people PLUS, IT IS TAX FREE and out of reach of the BIR (in Ilocano, they pronounce it as "Taga BIRrak" :D).
« Last Edit: July 12, 2011, 06:42:43 PM by DINDO BAYAUA »

Offline Gener

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #10 on: July 12, 2011, 05:53:09 PM »
Quote
The hidden vault will be a must but not inside my home probably outside where it is not expected as the Japs did.

**Then provide maps for your family generation to come,,,they will engage treasure hunting whenever they may think you stepped on! ;D
« Last Edit: July 12, 2011, 08:03:05 PM by admin »

Offline boboi

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #11 on: July 12, 2011, 06:04:37 PM »
then make your own thapi code, copy furnished  your children, as guide for your next generations retrieval. be sure not to put bobby traps...
« Last Edit: July 12, 2011, 10:37:53 PM by DINDO BAYAUA »

DINDO BAYAUA

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #12 on: July 12, 2011, 06:41:53 PM »
 :D This makes the air here light and containable. :D :D :D.

Any other opinions/plans? BTW, Cayman Island is the correct place if you want to keep your money from being investigated.

Offline Gener

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #13 on: July 12, 2011, 06:49:17 PM »
Im expecting that no heat-ups may occur here,,,make fun while learning,,Too much thinking sometimes makes us weak and depress...Enjoy! :D

Offline ghost

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Re: What to do with your gold bars or the proceeds on the sale therein.
« Reply #14 on: July 13, 2011, 05:16:53 PM »
Cayman Island is not only the available place, there are still lot of places in North and South America including Africa in which the arm of the government can't reach, but Cayman is still the best. Or should I utilize the electronic wonders so us not to trace it, weekly if needed in my banks of choosing. Never mind the interest if possible for as long as the money is intact. And the vault, make it the nastiest place to be, the septic vault.  ;D ;D ;D no need for codes just whisper to your love ones where the family inheritance is.