Down payment with gold

Gold is money - always has been, always will be. (at least somewhere).

 

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I hope someone could afford to switch out the gold for green. It sounds like a golden opportunity for more than one. I just can not imagine letting go of that much gold - specially if I had it. I guess it is true sometimes, rich people do funny things sometimes. (smiles from a goldbug hermit). :whistle:

 

Yes. The Rands are cash ! Now the bank is required to verify the source of the funds. Under the current money laundering and anti-terrorism laws, I don't think this was a very good move at all. Even if everything is legit, he now has the burden of proving it, not only to the bank, but to IRS and maybe even those who combat terrorism ? You would think anyone who could acquire that amount of gold legally would have sold it at spot less the 8% and done a normal transaction on the property. Go figure ?

 

Thats really risky, carrying a gold coin for me would be risky

 

Think its a cool idea to buy a house with pm s.I won der how many sae s it would take to buy a house hmmmm.

 

Since this was posted in 2008, I think the seller made out better than the buyer. using the OPs figures, it works out to $900 an ounce of silver, it's currently at $1,234. so a net profit of $147,896.00