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Title (media.piefed.social)
submitted 1 day ago* (last edited 1 day ago) by Buage_@piefed.social to c/lemmyshitpost@lemmy.world
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[-] BenLeMan@lemmy.world 4 points 1 hour ago

You do realize that if you take either the gold or the cash you're still roughly a billion dollars away from being a billionaire? At $72m you still have about 93% of the way to go before you hit even one billion. Elon is currently somewhere north of $700bn.

I'm just pointing this out because many people don't realize how excessively rich billionaires actually are. Many still seem to think we're talking about cutting into people's rainy day savings when we're calling for billionaire's fortunes getting taxed. And nobody earns that kind of money.

With all of the above said, if it is legit and comes with no strings attached, I will gladly take the ~$70m in gold (with approximately the dimensions of a microwave). Even if I have to pay taxes on it.

While gold does incur a conversion cost when putting it in a bank account, the same is true for a large amount of cash (especially when it is in a foreign currency). And gold has an intrinsic value which only increases over time. Thanks!

[-] Gammelfisch@lemmy.world 2 points 1 hour ago

I'll take the gold, MAGA is royally fucking up the USD.

[-] Delphia@lemmy.world 10 points 3 hours ago

A lot of this question really hinges around one question. What do I have to tell the government?

Do I get this as a prize? A gift? An inheritance? Income? Magical Genie appearance? Do I have to launder it? Am I going to get audited?

[-] ChonkyOwlbear@lemmy.world 1 points 1 hour ago

It's a lot harder to explain bundles of cash. Remove any identifying marking on the gold and claim it as marine salvage.

[-] VM_Abrantes@lemmy.world 6 points 3 hours ago
[-] lemonSqueezy@lemmy.world 1 points 3 hours ago

Classic. Well done ?

[-] WorldsDumbestMan@lemmy.today 17 points 7 hours ago

Is it 100 dollar bills? How much? Each weighs a gram. Gold is worth...145$ peer gram. So that means...gold will always be worth more, unless severely diluted.

[-] Notyou@sopuli.xyz 13 points 7 hours ago* (last edited 7 hours ago)

Yeah, but what's more liquid? I can take those 100s and pay most of my expenses in cash for the rest of my life.

If I take the gold bars, I would have to find a buyer or find a way to convert it into cash. I'm sure most people and places will have questions about how I got the gold bars.

[-] BigDiction@lemmy.world 1 points 5 minutes ago

Plus we may have a $250 bill coming soon to make the cash option even more attractive!

[-] explodicle@sh.itjust.works 7 points 3 hours ago

It's entirely plausible that the dollar could collapse to near worthless within our lifetimes. Inb4 Americans who think the world would be ending.

[-] BNE 1 points 2 hours ago

Bass boosted, reverb inshallah.

[-] stardreamer 5 points 6 hours ago* (last edited 6 hours ago)

When you heat both sides up: one is liquid, the other is flammable.

[-] tobebannedbygaymods@lemmy.zip 5 points 6 hours ago

both are more than I can carry , I'll take 30kg of gold

[-] HeHoXa@lemmy.zip 15 points 8 hours ago

Homie flunked the pound of feathers riddle one too many times

[-] reksas@sopuli.xyz 4 points 7 hours ago

how about trillion tons of zimbabwean dollars

[-] RememberTheApollo_@lemmy.world 16 points 11 hours ago* (last edited 9 hours ago)

Gold: ~$145,000/kg

Dollar bills = about $1,000/kg

For reference.

Edit: didn’t tap the image to see $100 bills. Add a couple zeros to the $/kg amount.

[-] LodeMike@lemmy.today 25 points 11 hours ago

It'd be $100,000 because they're $100 bills

[-] Doomsider@lemmy.world 2 points 9 hours ago

This right here.

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[-] buddascrayon@lemmy.world 6 points 10 hours ago

Not to mention the value of gold is not tied to how stupid the US president happens to be at that moment.

[-] AnUnusualRelic@lemmy.world 2 points 6 hours ago

It probably had an impact though. As in the more stupid, the higher the price of gold, when people divest from dollars.

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[-] kossa@feddit.org 43 points 15 hours ago

Everybody ITT

But I would have to pay taxes 😱

What are y'all doing complainig about billionaires not paying taxes, when you want to avoid them already talking about imaginary money?

[-] captainlezbian@lemmy.world 18 points 12 hours ago

Yeah, oh no I have to pay taxes on a massive windfall… Fuck off with that, I want my society to function. I get that it's a big chunk, but it's also free money.

[-] holy_scroller@lemmy.zip 14 points 12 hours ago

I've heard numerous people complain about getting a raise because they would end up in a higher tax bracket and come out net negative...I don't think most people understand how tax brackets work.

[-] LePoisson@lemmy.world 1 points 3 hours ago

Yeah anyone that thinks making more money means they'll end up with less money because of taxes is just wrong. It's crazy how so many people are that naive that they want to actively handicap themselves.

Having said that, you know what does work like that, our welfare system. It is possible to hit a point where you work too much and get xyz benefits taken away and the monetary value of those is larger than what your raise was. In particular, childcare/food stamp benefits are a hard one to lose and childcare can be a lot of money. So, that's a valid complaint but if you are not receiving government aid any raise you get at work is a benefit to you.

[-] Landless2029@lemmy.world 4 points 10 hours ago

I learned about tax brackets when I went up a bracket.

Self education is seriously lacking for most people.

Literally just search "how do tax brackets work?"

Took me 15 min to learn everything I needed to know instead of making a false assumption.

[-] Trainguyrom@reddthat.com 2 points 10 hours ago

It gets wonky with a non-cash windfall though. A couple of years ago my wife and I won game tickets valued around $3k which of course you have to pay income tax on which was ultimately around a thousand dollars (I don't remember exactly, but it was something like 30-50% of the winnings) for just those tickets, which of course since they're game tickets you then spend more money going to the game. Ultimately we could afford it and enjoyed the experience but I do not want to imagine how that goes for folks who win for example a $40k car and don't take the cash equivalent option

[-] RememberTheApollo_@lemmy.world 3 points 11 hours ago

The weird thing is a) assuming you wouldn’t have to pay taxes on the value of the gold, and b) not understanding you’d still be a shitload richer yet complain about the taxes anyway. What are you all, instant Donald Trumps? Get a few bucks and immediately not want to pay taxes?

[-] Fedizen@lemmy.world 3 points 11 hours ago* (last edited 11 hours ago)

I would happily pay taxes on FREE MONEY. Like how are people such babies? The pay/effort ratio is still amazing even if the tax rate was 95%. Only slightly worse than the pay/effort ratio of a billionaire taking a shit on the toilet.

[-] Email@lemmy.world 7 points 11 hours ago

I'm not getting either. 500kg is powerlifter territory, nobody else can lift it.

[-] TigerAce@lemmy.dbzer0.com 61 points 19 hours ago* (last edited 19 hours ago)

500kg of gold is $72.6 million as of current market value.

The image shows 100 dollar bills, so let's assume the 500kg consists of just that. That would add up to ~$50 million (~1 gram each, adding up to 500.000 bills).

Gold increases in value. The dollar is decreasing in value and Trump is making sure it's going to tank as soon as possible.

Gold is worth more and is a wiser investment over time so I pick gold, with delivery please and thank you.

[-] blitzen@lemmy.ca 1 points 2 hours ago

Gold increases in value. The dollar is decreasing in value.

Most of gold "increasing in value" is really just the dollar decreasing.

[-] TranscendentalEmpire@lemmy.today 15 points 14 hours ago

Good luck liquidating 500kg of gold without someone taking a decent cut. Gold doesn't always increase in value, it's a highly volatile commodity and atm is highly over speculated. More than likely whenever trump dies or leaves the office the market will correct itself to pre-pandemic pricing.

When people who don't understand what fiat currency is get scared by geopolitical instability they buy gold. Whenever those geopolitical instabilities absolve themselves they sell.

You'd probably be better off taking cash and investing it into index stock then taking the time and money to store, transport, and sell that much gold. There's a reason why billionaires are building Scrooge McDuck vaults and swimming in bullions.

[-] TigerAce@lemmy.dbzer0.com 8 points 12 hours ago

I would just lock it all up in a vault. Why would I need to liquidate it? I can take loans from the bank indefinitely, as I have the gold as insurance. That's what billionaires do as well, to avoid taxes. They use their wealth in stock as insurance to take out loans, because on loads you don't pay taxes. But in my case I would pay taxes for the value of the gold, like a decent person.

[-] TranscendentalEmpire@lemmy.today 3 points 10 hours ago

There is such a thing as a gold loan, but it's not really a good deal compared to even something like a HELOC loan. The interest rates are much higher, and they'll usually only loan out 50% of the value of the gold, and you'll have to hand it over to the bank for storage.

The main problem with this is that you don't have an income or a way to make more gold like billionaires can with stock. So you would have to eventually sell some of the gold to pay the loan. Which would entail not only paying interest on the loan, but a 28% tax on the gold. You don't have a skeem like capital gains to lower your tax burden with a physical commodity.

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this post was submitted on 03 Jun 2026
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