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A Ton Of Gold Bricks: What Capital Flight Looks Like In Italy

Tyler Durden's picture




 

Curious why so little has been said about cash flowing out of Italy's banks, especially when even UniCredit's CEO today proudly warned everyone he is all for confiscating uninsured deposits as long as "everyone else is doing it" - and no, he is not kidding, so when it does happen, nobody will be able to say they weren't warned. Maybe it is because Italian cash is actually not leaving the country at all. Instead, real "wealth" is departing the boot-shaped nation, quietly and under the radar, as fast as it can in another form: gold. As the clip below from Bloomberg shows, a car was intercepted at the Italy-Switzerland border, with a very special cargo: numerous bars of gold weighing a whopping one ton, worth $6 million. Furthermore, one can be absolutely certain that for every car that is caught at the border with a ton of "golden" cargo, there are 99 that pass through undisturbed and undetected. Which makes perfect sense: what better way to circumvent shadow capital controls such as those virtually everywhere in Europe, than to convert one's paper money within country A so it stays in country A, into a far more valuable, anonymous and transportable store of wealth, such as gold, and quietly move it to country B, the one where the risk of deposit confiscation is (for now at least) far less?

Oh, did we mention the confiscated product was gold: not euros, not Cypriot euros, not dollars, not palladium, not bitcoin... gold?

 

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Thu, 04/04/2013 - 16:52 | 3409716 SolidSnake961
SolidSnake961's picture

tungsten or real? how long can paper prices stay so low??

Thu, 04/04/2013 - 16:57 | 3409738 JPM Hater001
JPM Hater001's picture

"how long can paper prices stay so low??"

I know this one - Fraud

Thu, 04/04/2013 - 16:58 | 3409768 Pinto Currency
Pinto Currency's picture

Now we understand the push for body scanners at airports.

Thu, 04/04/2013 - 17:04 | 3409798 ZerOhead
ZerOhead's picture

He should have just fabricated all of the metal body parts of the car out of the gold and then added some fake rust for effect...

Thu, 04/04/2013 - 17:06 | 3409803 Pinto Currency
Pinto Currency's picture

 

This news item stinks.

Since when is it illegal to move gold bars to Switzerland.

As far as I know, gold bars are not a financial instrument and do not need to be declared.

Thu, 04/04/2013 - 17:13 | 3409842 Debugas
Debugas's picture

are you aware that if you cross borders within EU you are obliged to declare cash if you carry more than 10000 euros ?

Thu, 04/04/2013 - 17:28 | 3409854 Pinto Currency
Pinto Currency's picture

This is not cash

Did they declare the value of their car/SUV?

It's not a financial instrument either.

The subliminal investment advice, not intended to be given by Bloomberg, is everyone move your gold to a safe jurisdiction as the grabbers are coming.

I would bet there is a gold remonetization coming and all of the fat boys aren't positioned yet.  Cough it up.

Thu, 04/04/2013 - 17:30 | 3409924 grekko
grekko's picture

They are welcome to my gold, just as soon as I run out of 9mm, 30-06, and crossbow bolts.  Does anyone know where I can pick up some claymore mines, like real cheap?

Thu, 04/04/2013 - 17:41 | 3409952 Pinto Currency
Pinto Currency's picture

 

Please sell your gold.

It is of no use (see the above video). 

Besides, my banker buddies are in trouble.

http://www.examiner.com/article/largest-dutch-bank-defaults-on-physical-...

Thank you,

Michael Bloomberg

---------------------------------------

On a side note - did anyone notice how they stacked the gold bars on the cardboard.  Only an Italian policeman would stack gold like that.

Thu, 04/04/2013 - 17:52 | 3409993 nope-1004
nope-1004's picture

Those dudes are Merkels cousins.  Repatriation, bitchez!  Worth "6 million dollars"?  LOL.  Is gold trading at $187 / oz?

1 Ton = $45 million, give or take a few ounces.

 

Thu, 04/04/2013 - 17:55 | 3410028 Arcturus
Arcturus's picture

As far as I know or can calculate a ton of gold is 32150 troy ounces. times price is close to 50 million Ameircan dolors. Someone did not do their homework.

Thu, 04/04/2013 - 18:02 | 3410038 nope-1004
nope-1004's picture

Or there is only a couple hundred KG's there, which is what it looks like.

 

Thu, 04/04/2013 - 18:12 | 3410065 Pinto Currency
Pinto Currency's picture

 

Soc Gen says the gold era is over

http://www.bullionstreet.com/news/gold-era-ends-societe-generale/4430

Gold is finished. 

The future is in paper.

Thu, 04/04/2013 - 20:45 | 3410484 Prisoners_dilemna
Prisoners_dilemna's picture

Should've used Bitcoin.
He would've saved a ton of money on gas costs...
and a ton of money.

Thu, 04/04/2013 - 20:55 | 3410542 dark pools of soros
dark pools of soros's picture

no shit.... bitcoin could hit $2000 next week if this witch hunt keeps going

Thu, 04/04/2013 - 20:55 | 3410547 Pinto Currency
Pinto Currency's picture

Just before it goes to zero.

Fri, 04/05/2013 - 01:37 | 3411260 Scarlett
Scarlett's picture

I'm very sorry but I can't refrain from being amused at your dismissal of bitcoin when we are clearly seeing that moving gold involves major problems.  That's what bitcoin is for.  Gold is to remain burried under a tree until strike price.  Anyone using gold in hyperinflationary times will be painting a major target in their backs.

Fri, 04/05/2013 - 02:42 | 3411366 Boris Alatovkrap
Boris Alatovkrap's picture

Beside, if thief steal bitcoin, no danger is happen to teeth. Cannot is steal bitcoin with pliers!

Fri, 04/05/2013 - 02:38 | 3411364 ajax
ajax's picture

 

 

Here's the real story, it was in yesterday's paper:

http://www.20min.ch/ro/news/suisse/story/110-kilos-d-or-saisis-par-les-d...

 

Fri, 04/05/2013 - 10:08 | 3412489 virgule
virgule's picture

And there is no way someone would be carrying and moving gold bars this size with 2-3 fingers only. Mut be gold-plated aluminium!

Thu, 04/04/2013 - 18:19 | 3410096 ArgentoFisico
ArgentoFisico's picture

It wasn't obviously 1 TON! .. it was 110 kilos (4.400.000 euro circa)

Thu, 04/04/2013 - 18:20 | 3410101 tom
tom's picture

Well, I'm glad somebody on ZH knows that a ton of gold is worth a lot more than $6m. Sheeesh! That is one price ZH should not be getting wrong.

Actually this being Europe I assume it would have been a metric ton, worth close to $50m.

 

 

Thu, 04/04/2013 - 19:17 | 3410276 jimmytorpedo
jimmytorpedo's picture

How many extra leaf springs does a Fiat need to carry a ton of gold?
Wait, do cars still have leaf springs?

For that matter, does fiat have any gold content,..

Thu, 04/04/2013 - 19:23 | 3410284 Hobbleknee
Hobbleknee's picture

Maybe they meant it in the colloquial sense, like I banged a ton of chicks.

Thu, 04/04/2013 - 19:54 | 3410360 tenpanhandle
tenpanhandle's picture

But maybe you mean it literally, like you banged four "500 lb fat chicks.

Fri, 04/05/2013 - 04:14 | 3411443 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is resent joke about sisters!

Thu, 04/04/2013 - 22:18 | 3410791 Dave Thomas
Dave Thomas's picture

Was that a troy ton? A short ton, a metric ton? Or 1960 long pounds?

Jeeze I dunno know anymore.

Thu, 04/04/2013 - 18:36 | 3410154 seek
seek's picture

Pretty sure silk road has claymores or the equivalent. (not kidding.) You have to pay in bitcoin though.

Thu, 04/04/2013 - 17:31 | 3409931 knukles
knukles's picture

Dumb fucks tried to stuff a ton of gold into a 1955 Citroen 2CV.
Thing was grounding out on level surface on the rims.
Driven by 2 Arab guys wearingfull face covering niqabs and screaming Allah ackbar!
Otherwise, it was no big deal

Thu, 04/04/2013 - 17:42 | 3409975 prains
prains's picture

Smellay Snackbar! Smellay Snackbar!

Fri, 04/05/2013 - 04:17 | 3411444 Boris Alatovkrap
Boris Alatovkrap's picture

I like a locked bar, I like a locked bar...

Does not make sense these smellay arabs! Should have nuked Afghanistan but Gorby is no presence of gonad like Putin.

Thu, 04/04/2013 - 18:18 | 3410086 FeralSerf
FeralSerf's picture

This was Italy.  The car was a Topolino, not one of those French Grasshoppers.

Thu, 04/04/2013 - 19:11 | 3410250 espirit
espirit's picture

Foil wrapped chocolates?

Thu, 04/04/2013 - 18:09 | 3410062 grekko
grekko's picture

They don't have any gold, not for 7 years anyway (in the case of Germany).  does the word rehypothecated mean anything to anyone?  Of course they'll confiscate it.  I'll gladly give mine when I run out of ammo, including crossbow bolts.

 

Fri, 04/05/2013 - 12:10 | 3413129 caconhma
caconhma's picture

I proudly announce: Paper Gold is Kaput!

Thu, 04/04/2013 - 18:30 | 3410134 jonjon831983
jonjon831983's picture

Is it me or does the European Commission website's Cash Control's website not work?  It has the main info page, but you can't get to more information when looking up "What is cash?"

http://ec.europa.eu/taxation_customs/customs/customs_controls/cash_controls/index_en.htm

 

For the US Gold coins are considered currency (but couldn't find anything re: gold bars).

Thu, 04/04/2013 - 18:37 | 3410155 noless
noless's picture

http://ec.europa.eu/taxation_customs/resources/documents/customs/customs_controls/cash_controls/r1889_2005_en.pdf

 

article 2, section 2.

 

2. ‘cash’ means:

(a) bearer-negotiable instruments including monetary

instruments in bearer form such as travellers cheques,

negotiable instruments (including cheques, promissory

notes and money orders) that are either in bearer form,

endorsed without restriction, made out to a fictitious

payee, or otherwise in such form that title thereto

passes upon delivery and incomplete instruments

(including cheques, promissory notes and money orders)

signed, but with the payee's name omitted;

(b) currency (banknotes and coins that are in circulation as

a medium of exchange).

Thu, 04/04/2013 - 18:54 | 3410212 Stuntgirl
Stuntgirl's picture

In the EU, the capital control legislation does not say "cash". It says you can cross a border without declaring up to 10,000 euro equivalent "cash, cheques, or mediums of payment"-

The issue here is that investment grade gold 95.xx purity and up, bears no taxes because it is "investment grade gold" and as such, it falls in the category "medium of payment".

It's all in the wording. However, if those had been philarmonic coins, with a Euro face value, you could cross the border with up to 10,000 Euro face value, as they are legal tender.

I hope this information is useful to some europeans here, the devil's in the details.

Fri, 04/05/2013 - 03:39 | 3411402 sankol
sankol's picture

Thats quite informational. Hope to see you around these parts more often.

Thu, 04/04/2013 - 18:44 | 3410174 thisandthat
thisandthat's picture

Note to self: in case of emergency, buy a yacht, sail away, and sell at destination - problem solved.

Thu, 04/04/2013 - 19:32 | 3410309 Winston Churchill
Winston Churchill's picture

In extremis, hijack a yacht ,anchor offshore and eat popcorn watching when TSHF.

Thu, 04/04/2013 - 20:30 | 3410467 thisandthat
thisandthat's picture

Note to self: buy big binoculars.

Thu, 04/04/2013 - 23:14 | 3410883 essence
essence's picture

You certainly won't be selling your yachts stash in Switzerland (it's landlocked for the geographically challenged... in other words, most americans).

But let's explore this theme.

Sail to Tahiti  .... and what, wander around Papeete   looking for an English speaking Chinese coin shop.  Or Sail to Dubai? Singapore? Hong Kong ?  (do u have any idea the challenges involved in doing that) Where you'll do what? (assuming you manage to smuggle your cargo past the local customs).   But, But you stammer ....simon black makes it sound sooo straightforward.

U.S. Coast Guard (which operates on the high seas --far removed from the U.S.) will likely intercept you during one of their "safety checks" and strip you of your life's saving. If not, your arrival at a major foreign port could get you a through search. Feeling lucky punk? With your life's savings?

There's alot of clueless posters on Zerohedge shooting off their mouth.

The Jewish banksters & their minions will eat you up and shit you out unless you up your game an order of magitude.

 

 

Fri, 04/05/2013 - 20:15 | 3414875 thisandthat
thisandthat's picture

LOL you know I was just kidding, right?

Btw, you sure?: http://www.youtube.com/watch?v=sYwU9uxc9qY... everything's possible with a little imagination (and loads of cash...) :P

Btw, US/elsewhere coast guard/whatever can't do jack shit about foreign ships in high seas, if not mandated internationally/related to their jurisdiction (well, they can, obviously, but that's high sea piracy).

Thu, 04/04/2013 - 19:11 | 3410252 El Oregonian
El Oregonian's picture

Dang, he should'a had a boating accident BEFORE he got to the border...

Thu, 04/04/2013 - 20:32 | 3410448 thisandthat
thisandthat's picture

He probably was hoping to get to lake Geneva, I've heard it's a very accident-prone lake (sort of a Bermudas Triangle for wealth, if you will)...

And that explains a mystery that has puzzled professionals and enthusiasts alike, for decades: why did the Swiss ban the world's only underwater SLR camera ever - you just wouldn't want any would-be treasure hunters upsetting the calm of those waters going through its silt, uncovering whatever relics may lie there.

Thu, 04/04/2013 - 17:18 | 3409861 johnQpublic
johnQpublic's picture

why were they searching the vehicle in the first place?

thought part of the point of the union was to facilitate  travel

Thu, 04/04/2013 - 17:24 | 3409899 francis_sawyer
francis_sawyer's picture

Crack [JEWBloomberg] team reporting to you that, once & for all... "Crime doesn't pay"...

Thu, 04/04/2013 - 17:25 | 3409905 Bicycle Repairman
Bicycle Repairman's picture

It was a ton of gold.  Think the car sagged much?  Guard notes an auto performance problem, investigates and, WHOA, a ton of gold.

Who the fuck transports a ton of gold all at once?

This was clearly a case for Bitcoin.  Just send it over the border electronically.

Thu, 04/04/2013 - 18:48 | 3410185 Non Passaran
Non Passaran's picture

Or carry it on you. Unfindable.

Fri, 04/05/2013 - 00:51 | 3411156 Matt
Matt's picture

Interesting, how jewelery seems far less likely to get confiscated. But even Mr T doesn't wear more than 45 pounds at a time:

http://www.funnyordie.com/videos/8fd07a6c00/mr-t-talks-gold-investments

Thu, 04/04/2013 - 19:44 | 3410338 Bicycle Repairman
Bicycle Repairman's picture

Oh, some folks liked the plan?  Good luck, bitchez.

Thu, 04/04/2013 - 20:54 | 3410538 RideTheWalrus
RideTheWalrus's picture

"This was clearly a case for Bitcoin.  Just send it over the border electronically."

Isn't it remarkable that while Bitcoin has broken into the mainstream, gold & silver are being hammered down and now being 'exposed' as unsafe to travel with and hold, making more claims of how great BitCoin is.

Something smells fishy......someone wants you out of your metal and into the nothingness of digital.....

Thu, 04/04/2013 - 21:06 | 3410572 Bicycle Repairman
Bicycle Repairman's picture

Then retrieve the bitcoins in Switzerland and convert to whatever.

Thu, 04/04/2013 - 22:03 | 3410728 dark pools of soros
dark pools of soros's picture

"......someone wants you out of your metal and into the nothingness of digital....."

that someone is your freedom that is buried under your blindness...  have you noticed how far into digital nothingness you have to go to be free these days?   bitcoins, tor network, silk road....

 

 

Thu, 04/04/2013 - 22:17 | 3410777 RideTheWalrus
RideTheWalrus's picture

If you think freedom is dredging the scum at the bottom of the barrel then you gotta lot of thinking left to do.

The crackhead sucking dick in the dark ally to get free drugs must be the most free person on the planet for getting around the 'system'.

 

Thu, 04/04/2013 - 17:28 | 3409916 grekko
grekko's picture

The Swiss don't belong to the EU.  Never did.  They were smart.

Thu, 04/04/2013 - 17:32 | 3409941 Birddog
Birddog's picture

Switzerland is not part of the Union

Thu, 04/04/2013 - 20:39 | 3410489 thisandthat
thisandthat's picture

Is part of Schengen, though.

Thu, 04/04/2013 - 18:49 | 3410191 Non Passaran
Non Passaran's picture

As long as you travel light :-)

Thu, 04/04/2013 - 18:59 | 3410224 Stuntgirl
Stuntgirl's picture

For the past year, French police are stationed near the swiss border and routinely stop and search all cars with Spanish, Portuguese, or Italian license plates, actively looking for people with more than 10,000€ on them per person.

The only thing that's not routine about this news, is that it's gold, and in larger bars. They stop people like this every day, to the point that travelling for holiday on the other sea-end of france is more hassle-free for spaniards.

Thu, 04/04/2013 - 18:34 | 3410143 Papasmurf
Papasmurf's picture

are you aware that if you cross borders within EU you are obliged to declare cash if you carry more than 10000 euros ?

It wasn't cash, it was a barbaric relic.  Some call it tradition.

Thu, 04/04/2013 - 20:41 | 3410497 thisandthat
thisandthat's picture

Bricks, guy was a civil contractor, obviously - he was going to lay the yellow brick road to fiscal paradise.

Thu, 04/04/2013 - 22:04 | 3410737 dark pools of soros
dark pools of soros's picture

they should of just made fake tungsten bars out of them

Fri, 04/05/2013 - 01:00 | 3411180 Matt
Matt's picture

Should have taken a truck and disguised them as red bricks for building, or inside cement blocks.

Thu, 04/04/2013 - 19:07 | 3410219 Kirk2NCC1701
Kirk2NCC1701's picture

And are you are aware that they use machine vision tech (cameras & computers) at borders crossings and Tagged Neutron Inspection (TNI), to ID smugglers?

1. One metric (1,000 kg = 2,200 lbs) and only 1 or 2 passengers will lower the suspension on the car a lot.  By a suspicious amount.  An astute border guard or the Machine Vision will detect this anomaly and raise an electronic flag.

2. TNI allows them to get the proverbial "x-ray vision" picture of its contents.  This is especially true for cargo containers on trucks and ships, where they focus on nuclear and PM contraband.

Although, if the total quantity is as seen in the video, were are NOT talking about a 'ton' in a literal but a 'figure-of-speech' sense.

Thu, 04/04/2013 - 23:31 | 3411007 Ranger4564
Ranger4564's picture

All of the gold was not extracted from the car when the video was taken. You can clearly see many more bars farther in the underbelly of the car. They likely just pulled some out then confiscated the car and contents and passengers.

Thu, 04/04/2013 - 17:20 | 3409872 edb5s
edb5s's picture

"Gold isn't money" - Bernanke

Thu, 04/04/2013 - 17:23 | 3409890 OutLookingIn
OutLookingIn's picture

In other COMEX news today, gold is trading at $3.49/oz on the exchange.

Now, if you want the REAL thing? Sorry folks. Thats another story.

Can you say, disconnect? I knew you could. [sarc off]

Thu, 04/04/2013 - 17:29 | 3409922 DoChenRollingBearing
DoChenRollingBearing's picture

This week the price of gold has been smacked!  Paper price anyway.  Would I have been able to foresee this massive price decline?  No way.  Many of you know that I have been reading about the dangers of making predictions, I have instead become more in favor of identifying risks and vulnerabilities in one's "financial ark", and then fixing those.

"Dangers In Predicting Precious Metals Prices"

http://tinyurl.com/d8nhdjq


Thu, 04/04/2013 - 17:52 | 3410016 emersonreturn
emersonreturn's picture

welcome to Bankocracy.  

Thu, 04/04/2013 - 17:44 | 3409989 krispkritter
krispkritter's picture

SHHHHH!!! We're making this shit up as we go! 

Signed, Your Friendly Global Government

Thu, 04/04/2013 - 18:06 | 3410049 grekko
grekko's picture

antiquated relic...remember?  gold has no monetary value...not yet.

Thu, 04/04/2013 - 18:23 | 3410116 CH1
CH1's picture

Since when is it illegal to move gold bars to Switzerland.

Since you have them and costumed thugs want them.

Thu, 04/04/2013 - 23:20 | 3410986 Ranger4564
Ranger4564's picture

@Pinto Currency... Exactly what I was about to say... if Gold / Silver are relics and have no intrinsic value, why the fuck is it "illegal" to be transporting it in any amount between any preferred destinations?

Anyone got an answer? Hello?  Bueller? 

 

They can't conceal their hypocrisy it's so fucking obvious... Gold and Silver are the real money, and they do not want anyone to start using them instead of their worthless paper. Plus, clearly, they don't want any leaving their own countries, obviously.

 

Thu, 04/04/2013 - 18:34 | 3410146 ParkAveFlasher
ParkAveFlasher's picture

Zerohead's "golden car" reminds me of cheech & chong plasticizing marijuana into the shape of a delivery truck.  

Thu, 04/04/2013 - 17:06 | 3409804 wee-weed up
wee-weed up's picture

You ought to see my new brick shit-house!

Thu, 04/04/2013 - 17:11 | 3409833 kaiserhoff
kaiserhoff's picture

So if everyone else is jumping off a bridge, and Billy Bob double dog dares YOU to jump off the bridge....

What could go wrong?

Thu, 04/04/2013 - 17:00 | 3409772 tallen
tallen's picture

At $1556 a ounce, that's $50,030 per KG. If a ton is 1000kg (Standard), that means it's worth $50 Million, not $6 Million. Not surprised the markets are all so screwed when people can't do simple maths.

Thu, 04/04/2013 - 17:08 | 3409810 ZerOhead
ZerOhead's picture

Damn.

And to think that the authorities already sold the confiscated booty to some unknown buyer for just 6 mil...

Thu, 04/04/2013 - 17:22 | 3409885 Xibalba
Xibalba's picture

How'd ya think Germany was getting thier gold? 

Thu, 04/04/2013 - 17:09 | 3409814 Agent P
Agent P's picture

I'm guessing "$6 million" is correct and "ton" is not.  I'm basing this solely on the vehicle in the video.

Thu, 04/04/2013 - 17:20 | 3409877 Vashta Nerada
Vashta Nerada's picture

The border guards just need to stop and search all of the low riders passing through.

Thu, 04/04/2013 - 17:40 | 3409968 edb5s
edb5s's picture

Why do lowriders have such small steering wheels? So they can be driven while wearing handcuffs. LOL.

Thu, 04/04/2013 - 17:23 | 3409888 Pure Evil
Pure Evil's picture

If you ask me, the whole thing looked faked.

They way they were handling those bars with barely their fingers makes me think they weren't real.

Thu, 04/04/2013 - 17:48 | 3409999 knukles
knukles's picture

I noticed that, too....
"Sumptin's wrong here, Luchi"
              -Desi "Gold Nuts" Arnez

Thu, 04/04/2013 - 20:55 | 3410546 RideTheWalrus
RideTheWalrus's picture

Bitcoin propaganda videos

Thu, 04/04/2013 - 22:22 | 3410815 Dave Thomas
Dave Thomas's picture

Yep just like all those war movies where they're moving CRATES of gold around like it's filled with canaries.

Thu, 04/04/2013 - 17:25 | 3409911 Sancho Ponzi
Sancho Ponzi's picture

I bet it was translated incorrectly. Someone said a 'bunch' of gold in one language, and it was translated to 'ton', which can also mean 'lots' of something.

Thu, 04/04/2013 - 17:36 | 3409946 knukles
knukles's picture

Kinda like that broad when last rounds called and you're counting shankers and sores around her mouth and just can't decide whether they're too many or not.

Now I gotcha....

Thu, 04/04/2013 - 17:32 | 3409933 Slightly Insane
Slightly Insane's picture

Observant Agent P, you are;

 

Ask yourself what would happen if you loaded a small vehicle (not even a truck) with 2000 pounds of "anything".  The driver would have probably added another 250 pounds (a Goombalooch).

Even Barney Fife would be wondering why that car's just "draggin ass".  Hell, I bet the leaf springs would be inverted.

The article is a FAKE.  The vehicle would have to be on a truck suspension to get away with it .... just imagine trying to drive that car through the mountains .... the brakes would suck, the clutch would probably fry, and you'ld have a hell of a time trying to pull some of those steep grades.  Much easier to just move the stuff in a truck .... or better yet in the keel of a boat where it would be unnoticed.

Thu, 04/04/2013 - 18:08 | 3410055 donsluck
donsluck's picture

Not only that, but gold is not shiny, it's dull. Those are brass ingots.

Thu, 04/04/2013 - 19:16 | 3410269 PrintemDano
PrintemDano's picture

It's chocolate candy wrapped in gold colored foil.   At least you can eat it!

Thu, 04/04/2013 - 17:38 | 3409958 AL_SWEARENGEN
AL_SWEARENGEN's picture

HahA iddiots.  If transporting Gold accross borders really is illegal then they should have at least space the load out in several cars on different trips.  

Thu, 04/04/2013 - 18:18 | 3410095 SilverIsKing
SilverIsKing's picture

Story was probably created to scare people from taking their gold out of the country.

Thu, 04/04/2013 - 18:22 | 3410108 ArgentoFisico
ArgentoFisico's picture

Created? No. BUT: hit one to educate 1.000

Thu, 04/04/2013 - 19:02 | 3410238 Stuntgirl
Stuntgirl's picture

I think the story is created. They stop people carrying cash to Switzerland routinely. Most southern-plated cars are stopped. This happens everyday, but with banknotes. When it's a famous person, they publicise it to educate the sheeple. in this case, t's a gold bashing. As pointed out above, bars that size are very heavy and cannot be handled that way.

Thu, 04/04/2013 - 17:37 | 3409949 Stuck on Zero
Stuck on Zero's picture

Metric tonne?

 

Thu, 04/04/2013 - 17:42 | 3409983 herpderp
herpderp's picture

impure bars probs?

Thu, 04/04/2013 - 17:09 | 3409815 Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

The clip doesn't mention when this happened. There was a similar story some months back, that got no coverage in the mainstream.

Is this the same story, now ready for proliferation - to start confiscation talk related to Gold, or is it a new instance of the same story.

In connection with the leaked off shore bank information, that has been investigated without a sound for 15 months, only to be announced right now - the broadcast of this story - right now - is something to make you go hmmm.  

Thu, 04/04/2013 - 17:11 | 3409832 Ness.
Ness.'s picture

Were those Bitcoins stored in the floorboard of that car??  If so, they look an awful lot like the shiny.

Thu, 04/04/2013 - 17:22 | 3409869 Panafrican Funk...
Panafrican Funktron Robot's picture

Fun facts:

Growth of US debt from 1981 - 2012:  1071% (Source:  Fed Flow o' Funds)

Growth of nominal GDP from 1981 - 2012:  502%

Growth of real GDP from 1981 - 2012:  227%

Growth of the price of gold (in USD) from 1981 - 2012:  416%

Growth in the price of the Dow from 1981-2012:  1498%

If gold tracked the growth of debt, it would have ended last year at $4,260/oz.  

If gold tracked nominal GDP, it would have ended last year at $1,997/oz.

If gold tracked real GDP, it would have ended last year at $903/oz.

 

If Dow tracked the growth of debt, it would have ended last year at 9366.  

If Dow tracked nominal GDP, it would have ended last year at 4390.

If Dow tracked real GDP, it would have ended last year at 1985.

So, when people tell me that "gold is in a bubble", and "you gotta be in stocks", I tend to view those people as being remarkably stupid.

 

Thu, 04/04/2013 - 18:35 | 3410150 scrappy
scrappy's picture

Sounds like "After the fox" the great Cairo gold robbery!

 

https://www.youtube.com/watch?v=InAduv2MUSY

Thu, 04/04/2013 - 20:19 | 3410431 jekyll island
jekyll island's picture

It's just a barbarous relic, right?

Thu, 04/04/2013 - 16:56 | 3409740 bank guy in Brussels
bank guy in Brussels's picture

Jim Willie's great new piece today addresses that

He talks about proof that the 'paper gold' price is fake, there is already a much higher gold price in Shanghai, which is helping to empty the last gold held in the West ... and about to bring down the whole Western system, with the real price of gold eventually to burst out after the Western paper gold system fails:

« As of 8am today in London, the Shanghai Gold price had a 1591 handle, compared to a 1555 handle in London. That constitutes a $36/oz spread, very feasible for arb trades and the associated drainage of London metal ... as the phony paper Gold price declines more and more, it signals the demise of the COMEX itself, a shutdown ... When the COMEX goes dark, from depleted inventory, from vacated client players, the Gold price will actually not be known for some time ... »

He also talks about how the really key hidden aspect of the US Bankruptcy Reform act of 2005, was making bank derivatives higher in priority than customer deposits or all other customer account holdings ... This he sees will be the major tool of confiscating what is left of private assets in the USA:

« The bank nazis will not see their massive pillars, their syndicate hives be ruined without stripping the US nation of its private wealth. »

http://news.goldseek.com/GoldenJackass/1365105720.php

Thu, 04/04/2013 - 17:29 | 3409923 Panafrican Funk...
Panafrican Funktron Robot's picture

Yeah, wow, that's a huge spread.  2.3% on what looks like a riskless arb indicates that there is actually a shitload of risk in at least one side of that trade (perhaps both).  

On a somewhat related note, I've been "hedging" my phys with long dated GLD puts, I'm figuring of all the arb opportunities, the difference between my phys and GLD could end up being pretty significant.  

Thu, 04/04/2013 - 17:31 | 3409929 negative rates
negative rates's picture

Just can't wait for that burst out.................

Thu, 04/04/2013 - 18:16 | 3410083 Spigot
Spigot's picture

And most derivatives counter-parties for Euro Bonds and Interest rates are ... drum roll ... American Banks. Which means that when TSHTF in Euroland, and the Derivatives trigger, American Banks will be locked down and all their deposits will be wisked to holders of those derivates. In the morning the only thing that will be left will be a very deep, smoldering crater.

Thu, 04/04/2013 - 16:59 | 3409750 hedgeless_horseman
hedgeless_horseman's picture

 

 

The drivers of this car do not understand the political capital invested in Europe.  They vastly underestimate what the Euro means for the Europeans, for the Euro area.

Thu, 04/04/2013 - 17:01 | 3409783 ZerOhead
ZerOhead's picture

Nor appreciate it apparently...

Thu, 04/04/2013 - 17:04 | 3409797 Calmyourself
Calmyourself's picture

Thankfully this car had sliding doors not suicide doors like Mario's.

Thu, 04/04/2013 - 17:39 | 3409971 rockraider3
rockraider3's picture

Draghi!  I did detect your hint of a smile at the mention of zerohedge this morning at your press conference, but I didnt' realize that your familiarity with the site meant you posted here. 

Well played, sir.

Thu, 04/04/2013 - 18:01 | 3410040 knukles
knukles's picture

Everybody of any gravitas (I should use that word more carefully, but you get the point) reads the Hedge.
Look its actually pretty Goddamned simple
Use the Olde Soviet Union as a proxy
The "news" was so jury-rigged, propagandized that nobody had a fucking clue what the "truth" or "honesty" were.
So for example, the authorities allowed the circus portion of bread's other half to exist within the realm of comedy.  Dry tangential humor served as the medium... that or the BBC, Radio whateverthefuck from the west.

Hence, if anybody; Benji, Mario, whomever wants to get the inside/oppositions view of the world or more importantly find the memes that must be combated for the rise of the NWO, where ya gonna go?
ZH is one of the important sources.

It s what it is.
We're not the only people who read this, folks....

Thu, 04/04/2013 - 18:50 | 3410199 shovelhead
shovelhead's picture

I gots gravitas?

Gee, thanks knucks...

I thought I came here for the apocalypso music.

 

Shake, shake, shake Bernanke, shake the POMO line...

Shake, shake, shake Bernanke, shake it all the time.

Thu, 04/04/2013 - 17:00 | 3409767 Pinto Currency
Pinto Currency's picture

-

Thu, 04/04/2013 - 17:12 | 3409835 THECOMINGDEPRESSION
THECOMINGDEPRESSION's picture

Don't you find it completely odd that a few people can control BILLIONS of people on this earth and we ALLOW them to? Just like that, take it..ok..I'll pay more..ok..take it all out of my account..ok..more taxes, ok...

Thu, 04/04/2013 - 23:46 | 3411031 Ranger4564
Ranger4564's picture

No. Although I upranked you for raising the thorny topic... it's a well understood phenomenon. Fear is why they win and we lose. Your parent's fear, their parent's fear, all the way back to the first thug who dominated a community. It is our unwillingness to draw courage to stand up to these assholes and say FUCK YOU MOTHER FUCKERS, we won't take it any more... and if some of us have to die to stop you, so be it.

No, that doesn't happen. Instead, we elect an asshole that is supposed to be our fucking proxy. And that proxy was easy to bribe... 1 asshole instead of a legion of people...

No, we don't live in the world of courage. We don't live where everyone understands what history really tells us. We don't care what happens to someone else as long as it appears the self is OK.

The Oligarchs win because there are so few of them and they cooperate to rape us silly. We lose because there are so many of us and we refuse to work together, even just long enough to defeat the cooperating oligarchs. That was the power of Unions. That was the power of collective bargaining. That is why they outlawed it and we helped, thank the fucking god, we buried it in someone else's shitty back yard. Dead. Dead. Dead. Thank god.

We don't live, they do. We toil.

 

Hope that answers your question sufficiently. O.O

Thu, 04/04/2013 - 17:29 | 3409919 zorba THE GREEK
zorba THE GREEK's picture

If that was my gold, they would have gotten a lot of my lead too.

Thu, 04/04/2013 - 17:51 | 3410018 Abi Normal
Abi Normal's picture

But, but, I was just trying to get my goald to my Wolf's lair...Escape To Wolfenstien, biotchez!

Thu, 04/04/2013 - 19:19 | 3410279 exartizo
exartizo's picture

until the difference between paper and physical makes a difference.

Thu, 04/04/2013 - 20:45 | 3410510 RafterManFMJ
RafterManFMJ's picture

Who the FUCK are you to steal my property? 

Thu, 04/04/2013 - 16:51 | 3409718 Pairadimes
Pairadimes's picture

Yes, but do you really want to be seen stopping that car?

Thu, 04/04/2013 - 16:52 | 3409721 Fred Garvin
Fred Garvin's picture

I thought people lost their gold in boating accidents, not car accidents

Thu, 04/04/2013 - 16:52 | 3409722 Bam_Man
Bam_Man's picture

"Those are not the gold bars you are looking for."

Thu, 04/04/2013 - 17:24 | 3409880 Ratscam
Ratscam's picture

those were some strange bars, not looking like 12.5 kg standard bars and all for the media to be filmed on disclosure, yeahh right!
In addition such heavy bars cannot be moved with this light, elegance of the police officer.
Oh and by the way a ton of gold is slightly more than 6 mm USD, add one zero. I love RT, but this clip is as bad as any clip on FOX news.
what a piece of BS. my thoughts.

Thu, 04/04/2013 - 20:04 | 3410392 Temporalist
Temporalist's picture

That was on Blmbrg not RT (just FYI)

Fri, 04/05/2013 - 01:12 | 3411208 Matt
Matt's picture

Maybe someone decided to do a test run with some fake gold bars just to see what would happen, before doing a live run with their life savings.

Thu, 04/04/2013 - 19:32 | 3410313 jimmytorpedo
jimmytorpedo's picture

All your gold are belong to us.

Thu, 04/04/2013 - 16:54 | 3409725 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Bullish on submarines.

Thu, 04/04/2013 - 16:55 | 3409735 Thisson
Thisson's picture

Kinda hard to move gold to Switzerland via submarine...

Thu, 04/04/2013 - 16:59 | 3409770 malikai
malikai's picture

Nobody ever said it would be easy.

Thu, 04/04/2013 - 17:01 | 3409775 Urban Redneck
Urban Redneck's picture

That's why they use airplanes.

Although there is usually a giant collection of both sail and motor boats on any lake larger than a catfish pond, so boating accidents aren't out of the question.

Thu, 04/04/2013 - 17:10 | 3409828 Carl Spackler
Carl Spackler's picture

What ever happened to the old private jet method of transportation?

Now, the Italian government has just looted a looter.

Thu, 04/04/2013 - 17:14 | 3409837 hmmtellmemore
hmmtellmemore's picture

At this point, you are a fool to use either a plane, train, automobile, or submarine to move gold.  

Open a bitcoin account in Switzerland, Singapore, or Hong Kong (NOT Mt. Gox, their records will be raided, it is inevitable.)

Or, keep using the foolish assumption that bitcoin is a competitor to gold, and look like a complete moron such as the previous owner of the gold in that video.

Thu, 04/04/2013 - 17:32 | 3409934 Panafrican Funk...
Panafrican Funktron Robot's picture

The assumption that Switzerland, Singapore, or Hong Kong are safe places to store your wealth is a very, very stupid assumption.  

Thu, 04/04/2013 - 18:52 | 3410202 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Hong Kong is owned by the Chinese now. I don't think they will play nice nice with the DOJ or any non BRIC controlled entity if they start stirring up problems over there.

Thu, 04/04/2013 - 23:51 | 3411044 Ranger4564
Ranger4564's picture

It's not that they will rat you out, it's that they will dick you too.

Thu, 04/04/2013 - 20:11 | 3410411 tenpanhandle
tenpanhandle's picture

the assumption that bitcoin is a safe place to store your wealth.....

Thu, 04/04/2013 - 17:44 | 3409965 Urban Redneck
Urban Redneck's picture

It's not a crime to bring gold that you legally own into Switzerland,

and it's not (yet) a crime to take gold you legally own out of Italy,

(but their first national pastime is tax evasion, and football is a distant second, except on game night).  

It is a crime to smuggle gold (without declaring it),

but declared (legal) exports are over 100 tons per year from Italy to Switzerland anyway.

The Swiss could give the Soviet commie bastards a run for their money on the usage of "Your PAPERS are NOT in order!"

but you get used to it after a while... and it's less of a headache than a visit from the IRS proctologists...

Thu, 04/04/2013 - 18:53 | 3410208 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Unless it is serialized with receipts from a broker and we know stackers don't like receipts because it defeats the purpose for stacking, you are pretty much fucked when it comes to proving ownership.

Thu, 04/04/2013 - 19:40 | 3410329 Urban Redneck
Urban Redneck's picture

Switzerland has a lot quirky work-arounds that they don't necessarily like to talk about, I have drafted by hand and signed legal declarations on the back of scrap paper at government offices in plain view of clerk, and walked right to the counter and submitted them.  So the correct answer would be to call the Customs Office before hand and find out exactly what they want in your specific circumstance - and don't be surprised if it is a scribbled note on a cocktail napkin as long as listed date is prior to arrival and declared place of signature is your country of domicile. 

 

Thu, 04/04/2013 - 18:24 | 3410119 FeralSerf
FeralSerf's picture

"Kinda hard to move gold to Switzerland via submarine..."

Not if you do it on Lake Maggiore or Lake Lugano.   You might get a few stares if you do it in the daylight though.

Thu, 04/04/2013 - 18:26 | 3410123 ArgentoFisico
ArgentoFisico's picture

oooh! It's full of lakes on the borders :)

Thu, 04/04/2013 - 17:10 | 3409829 Wile-E-Coyote
Wile-E-Coyote's picture

Kim had his Gold on those two subs, damn it.

Thu, 04/04/2013 - 17:41 | 3409973 rockraider3
rockraider3's picture

Bullish on submarining the Euro.

Thu, 04/04/2013 - 16:54 | 3409729 ziggy59
ziggy59's picture

Ton of Au is 15 in cube...

Beautiful!!

Thu, 04/04/2013 - 16:55 | 3409730 negative rates
negative rates's picture

Drill it!

Thu, 04/04/2013 - 16:55 | 3409732 Keyser-Soze
Keyser-Soze's picture

Since when does a ton of gold equal $6 million. Maybe 15 years ago. It's closer to $50 million.

 

Thu, 04/04/2013 - 16:56 | 3409748 seek
seek's picture

No kidding. Basic math: 1000oz = $1.5M, so $6M is 4000oz, maybe 300lbs, tops.

 

Thu, 04/04/2013 - 16:58 | 3409757 Bam_Man
Bam_Man's picture

It was a "Betty Liu" ton.

As in, "I am wearing tons of make-up". 

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