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How Can You 'remove' Money From The System?

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I suppose 'hide assets' would be a more accurate request.

If I wanted to make my assets untraceable by anyone I didn't want to know how could i do it?

Open an account in a trusted relatives name and ensure no paperwork was generated and I held the card and log-in details so I could withdraw cash from my own current account and deposit it in this new account?

Send some offshore via western union or some such but can accounts abroad be traced?

Buy some gold or silver and bury it in the garden (can you buy it for cash?)

I'm sure some of you can guess possible reasons for wanting to do this but i think i'm right in saying that there is nothing illegal in what i'm looking to do (obviously i wouldn't act on any advice that was illegal).

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I suppose 'hide assets' would be a more accurate request.

If I wanted to make my assets untraceable by anyone I didn't want to know how could i do it?

Open an account in a trusted relatives name and ensure no paperwork was generated and I held the card and log-in details so I could withdraw cash from my own current account and deposit it in this new account?

Send some offshore via western union or some such but can accounts abroad be traced?

Buy some gold or silver and bury it in the garden (can you buy it for cash?)

I'm sure some of you can guess possible reasons for wanting to do this but i think i'm right in saying that there is nothing illegal in what i'm looking to do (obviously i wouldn't act on any advice that was illegal).

Withdraw a little extra each month and slowly build up a stash. It is not as if you are earning any interest on it. If you want you could buy gold in small quantities (for instance) or just keep the cash in the mattress.

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Depends how much.

In ascending order and with each stage prefacing the previous one:

Extract cash.

Buy gold coins - check the precious metal forum for the disclosure limit on purchase, you can certainly buy it for cash.

Buy a house via a channel islands company whose ownership cannot be traced back to you.

All perfectly legal.

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If you want to do it a bit faster - make it appear you have developed a gambling addiction.

1. Arrange for your debit card limits to be increased.

2. Visit a casino 2 or 3 times a week and withdraw cash before & after midnight.

3. Go buy gold (under ?£5k per time) or keep cash.

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Just take out more cash than you need and build up a roll of twenties over time. Stash them at the back of the attic or the like, somewhere it would take you ten minutes of rooting around to get at. There's no paper trail and no one will ever know you've done it.

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. Go into a bullion dealer or art house and buy under £5K, they will still want a name and address for invoicing, I suppose you could call yourself mickey mouse.

Going to a dealer and buying with cash they never ask for details. Ordering over the internet leaves a trail but that could only be picked up by contacting all the bullion dealers and searching through their records. Not sure who could ask for that to be done or how many bullion houses would comply though tbh.

Under £5k per transaction or £10k per year at any dealer keeps you under radar for money laundering regs so no proof of I.D is required and nothing is notified.

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Withdraw a little extra each month and slowly build up a stash. It is not as if you are earning any interest on it. If you want you could buy gold in small quantities (for instance) or just keep the cash in the mattress.

What if your house goes up in flames?

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It depends from whom you are trying to hide it. If there is a large amount that needs a legitimate vanishing act, develop an online gambling addition.

Back when I was semi-pro gambling an acquaintance of mine separated from his wife; First thing the wife mentions to the lawyer is how this guy has a couple hundred k $ from sports arbitrage, dirty play, casino whoring etc… sitting in US facing offshore sports books.

The response was predictably, prove it, sure I'm a problem gambler and I'm broke.

It's very easy to bury money in online books, and it's not difficult to move it around using multiple online wallets and multiple currencies. And the beauty of the US facing books, they're secure and as they cater primarily to a market where gambling is illegal, they're not all that keen on reporting an individuals funds.

Of course as this isn’t removing money from the system, just obscuring its location, there are no issue should it need to "re-enter".

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Go into ATS Bullion or Bairds today, buy a single sov and they will ask you for your name and address, to generate an invoice for their accounts systems. If they didn't they'd be in trouble with their auditors at year end. There's no catch-all 'no details supplied' customer in the accounts systems.

Maybe so but there are plenty that do not. I can walk into any local dealer anywhere and they wont ask. I know there are a few main dealers that dont ask for details, HGM didnt.

If they're ever asked to search through paper or electronic records by a govt agency, do you really think bullion dealers won't comply? That they would risk criminal charges and financial penalties to satisfy nameless faceless tin-foil-hat members of the public?

Ofcourse they would comply with the government, they would atleast try anyway. I didnt quote the full text that I was responding to which made mention of receivers and divorce lawyers who I doubt would find all the possible dealers and gain compliance. Come to think of it, do you believe some civil servant will manage to contact all possible outlets and have them check an individuals name and possible addresses against their records? I doubt there is a complete data base to start from of main and local dealers or that they could find them all even with every yellow pages for the country.

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Thanks guys, i am asking in the event of a possible divorce. Whilst it isn't something that is necessarily imminent i am in a position where the assets brought in to the marriage are disproportionately from me (in fact all from myself). Anybody who has been through the divorce mill knows how men can get completely screwed by the system even if they are willing to make adequate provision for their ex's (there are no children involved other than one from a previous marriage).

I have been a heavy user of the betting exchanges since 2003 and have considered opening another account in a relatives name and trying to switch cash by backing/laying between accounts. Unfortunately, my commission rate is around 4% assuming i can't get a paired trade with a built in green to offset that (backed at a higher price than the lay) and as anyone on betfair will tell you 1.01 shots get beaten with alarming regularity which could leave me in a situation of increasing my visible cash in my primary account.

I think i'll be looking at removing around £100,000 over the next 3 years or so and the gambling angle is the only one i can see being realistic, especially if i get myself registered for gamblers help groups. If i regularly remove chunks of cash i can deposit it elsewhere and claim it went on lost bets in the bookies and casinos in pretty short order.

Apparently judges are well aware of the offshore arrangements and other attempts to hide assets that have a trail leading to a point so i'm not sure how effective some tactics would be.

Don't get married lads!!

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Thanks guys, i am asking in the event of a possible divorce. Whilst it isn't something that is necessarily imminent i am in a position where the assets brought in to the marriage are disproportionately from me (in fact all from myself). Anybody who has been through the divorce mill knows how men can get completely screwed by the system even if they are willing to make adequate provision for their ex's (there are no children involved other than one from a previous marriage).

I have been a heavy user of the betting exchanges since 2003 and have considered opening another account in a relatives name and trying to switch cash by backing/laying between accounts. Unfortunately, my commission rate is around 4% assuming i can't get a paired trade with a built in green to offset that (backed at a higher price than the lay) and as anyone on betfair will tell you 1.01 shots get beaten with alarming regularity which could leave me in a situation of increasing my visible cash in my primary account.

I think i'll be looking at removing around £100,000 over the next 3 years or so and the gambling angle is the only one i can see being realistic, especially if i get myself registered for gamblers help groups. If i regularly remove chunks of cash i can deposit it elsewhere and claim it went on lost bets in the bookies and casinos in pretty short order.

Apparently judges are well aware of the offshore arrangements and other attempts to hide assets that have a trail leading to a point so i'm not sure how effective some tactics would be.

Don't get married lads!!

Deposit it with the Inland Revenue.

Set up a BACS transfer to their RBS bank account and put your NI number in the reference.

Claim it back when it's all blown over.

Edited by Alan B'Stard MP

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Deposit it with the Inland Revenue.

Set up a BACS transfer to their RBS bank account and put your NI number in the reference.

Claim it back when it's all blown over.

Not sure if you're pulling my leg and i'm being naive but wouldn't that be a very obvious trail that would expose me to the 'why is that cash there' question and ultimately it's return to the pot?

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Thanks guys, i am asking in the event of a possible divorce. Whilst it isn't something that is necessarily imminent i am in a position where the assets brought in to the marriage are disproportionately from me (in fact all from myself). Anybody who has been through the divorce mill knows how men can get completely screwed by the system even if they are willing to make adequate provision for their ex's (there are no children involved other than one from a previous marriage).

I have been a heavy user of the betting exchanges since 2003 and have considered opening another account in a relatives name and trying to switch cash by backing/laying between accounts. Unfortunately, my commission rate is around 4% assuming i can't get a paired trade with a built in green to offset that (backed at a higher price than the lay) and as anyone on betfair will tell you 1.01 shots get beaten with alarming regularity which could leave me in a situation of increasing my visible cash in my primary account.

I think i'll be looking at removing around £100,000 over the next 3 years or so and the gambling angle is the only one i can see being realistic, especially if i get myself registered for gamblers help groups. If i regularly remove chunks of cash i can deposit it elsewhere and claim it went on lost bets in the bookies and casinos in pretty short order.

Apparently judges are well aware of the offshore arrangements and other attempts to hide assets that have a trail leading to a point so i'm not sure how effective some tactics would be.

Don't get married lads!!

How did you put that amount into a marriage unless it was into a property? If it was you are in bother. If it wasnt , what is it in now? A bank account in your name presumably. I hope it isnt in joint names. I assume when divoprce proceedings begin her soliciter will want to see some bank books etc. and i dont see how he will miss 100k. you are in trouble, for sure. I hope she dosnt read this site either. I dont see the gambling route as credible either. Get it out now, in cash as far as possible. spread it around , keep cash, and cash bought sovereigns, spend some, and hope for the best. Good luck

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How did you put that amount into a marriage unless it was into a property? If it was you are in bother. If it wasnt , what is it in now? A bank account in your name presumably. I hope it isnt in joint names. I assume when divoprce proceedings begin her soliciter will want to see some bank books etc. and i dont see how he will miss 100k. you are in trouble, for sure. I hope she dosnt read this site either. I dont see the gambling route as credible either. Get it out now, in cash as far as possible. spread it around , keep cash, and cash bought sovereigns, spend some, and hope for the best. Good luck

It's in a house that was bought prior to the marriage (not that it matters but it's in my name).

I've been seriously thinking about selling up over the next few months so whatever equity is in the place will be turned in to cash - which is where the problem starts.

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It's in a house that was bought prior to the marriage (not that it matters but it's in my name).

I've been seriously thinking about selling up over the next few months so whatever equity is in the place will be turned in to cash - which is where the problem starts.

Cant you buy some gold and get it medically implanted?

Your Shylock can have it if she wants - but she has to get without drawing blood.

:)

Edited by Alan B'Stard MP

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Thanks guys, i am asking in the event of a possible divorce. Whilst it isn't something that is necessarily imminent i am in a position where the assets brought in to the marriage are disproportionately from me (in fact all from myself). Anybody who has been through the divorce mill knows how men can get completely screwed by the system even if they are willing to make adequate provision for their ex's (there are no children involved other than one from a previous marriage).

I think a gradual draw down of cash is a good start. An extra £25 a day at the atm is £500 a month. I'm starting to do this purely to get some money "off the radar" in case I one day need to claim an benefits.

Edited by goldbug9999

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It's in a house that was bought prior to the marriage (not that it matters but it's in my name).

Has she lived in it with you ? (not good), did she help pay the mortgage (worse) ?.

I've been seriously thinking about selling up over the next few months so whatever equity is in the place will be turned in to cash - which is where the problem starts.

Definitely better to sell sooner rather than later, the next couple of years will seriously erode your equity.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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