Perhaps you should be ranting about how money laundering millions is allowed and not scrutinised whereas 50k gets your account locked. Rules for thee and not for me.
I've got a receipt for everything I own. It started with lack of trust of insurance companies so I took photo's too. I also don't trust the police, the banks, the Justice system or the government. At one time I'd of probably been put in a straight jacket but it's become the norm for most folk. Bar 31.
I had some grief with a Nationwide account, I told the woman I wanted all my money out there and then, she refused and said I need to order it. After a week I returned and walked out with 32k in a Lidls bag, they were looking at me as if I was mad lol.
Cash is king. Use cash for everyday expenses. Every time you use a card to pay for things, banks take a commission for processing. By using cash, banks don't take a cut. Disclaimer: Not financial advice, just own opinion. Find out what works for you personally and apply it.
I have been asked by 4 banks in the last 12 months all the information you were talking about and one of them froze £60k in my account and it took me 10 days to get it unfrozen. The other 3 didn't freeze my account so I took out what I had in there and closed them all down.
It amazes me that they can just freeze access to your money. What happens if you don't have any money for food/ need to pay bills. If they force us to go cashless then what are people supposed to do? Starve? It amazes me in this modern age that there isn't a central bank that cant be taken away from you where you can access your funds for living expenses.
Adding new money to the system probabaly warants AML proceedures , but as they also do it when money is transferred from one fca approved bank account to another bank account in the same name/address /DOB etc ( 2 of my friends and family have had this) means its nothing to do with AML regulations .
@ I get that and some people are unfortunately forced into a position where they have to sell. I just hate fiat money it’s such a ponzi gold and silver for me are the real deal and will have their time one day.
Bar no 31! 🤩 How dó you prove your wealth..? 🤔 Does a person have no legal rights in regards to privacy and what a (commercial!) bank is allowed to ask from you?
What if you showed a significant amount 9f your gold and silver to your bank, before you sold it? Then asking "where did all that currency come from?" Would be a question they wouldnt need to ask.
I do wonder how much restrictions you can put on people's funds before bitcoin and stable coins take a leap in acceptance. Also, anti money laundering laws and privacy laws seem to be at odds. Furthermore, the sad part is that if people are treated as criminals more and more, more and more people will actually start to behave as criminals.
MY bank is my enemy so every penny I have has been converted to gold and is stashed in a safe place, outside the UK and the EU. For obvious reasons I'm stating where.
I fortunately do not deal with any kind of large enough amounts to draw problems, but i can totally see how gold purchases can cause undo scrutiny and attention, it will likely get worse as well as here in the US our government now wants to track any purchase of 600 or more.....not going to be able to buy it all without it being tracked somewhere. bar 31
What BYB says - the banks in the western world have been ordered to be gatekeepers in order to prevent money laundering. If they perform this task sloppily they are being fined - hence the hysteria!
@BackyardBullion I'm reading it as businesses and depreciation of avoidance of paying capital gains tax which does not apply if you are selling UK Legal tender.
My bank account doesnt pay interest, so never leave money in it. If i ever had to deposit a large amount, i would say i got it out of the bank, which the government put it there, in the form of my pension. I have very little in bills. Grow my own food, have solar panels, get free stuff and fix it to use. I really could have 200k under my mattress and not the 50 bucks i do have, but thats another story. I think if you dont have records of spending any where, you are fine.
Nice video thank you. Take it easy when you need to with the buyer's club thing, and I hope you and your family and everyone here have a nice Christmas season:D
My little wealth has doubled in 1 year through gold and crypto but my credit score is down. I've said it before, I'd welcome telling them and its recognised. If I sell i guess I'll have the same problem other wise?
Bar 31. Can you tell me where you bought the clear plastic hard cases you have that your gold is in please ? Regarding banks. It's a difficult one. Is the answer keeping cash at home? But even that is quite dangerous and is not ideal.
Idk how youre going to stand up to them when you have no. Guaranteed freedom of speech or second amendment. They do not have to listen to you and clearly do not fear the people. Bar 31
This " rule " within the banking system was never about money laundering " It was always a guise by them to demand exactly what you have & where it came from I believe more for HMRC to establish if you owe cgt / inheritance tax etc . Heaven forbid the treasury to miss out on anything you may or may not owe .😮. Remember what HMRC stands for .(His majesties revenue and collection). As king Charles needs every penny he can get " struggling on with his €130m a year allowance.
How can I prove purchases of gold and silver from 30 years ago? The till receipts long since faded . Will a spreadsheet entry of the purchase of 10 gold sovs for £800 be sufficient proof?
Bar number 31! Could be interesting in the future.... I took a very small early pension and get some benefits. As I said t'other day I bought some metals in Perth WA 🌟 and intend on occasional purchases in the future (actually ordered a little today). And I'm going to sell my car and put a grand or so from that into a half oz coin. So basically... In the future when I sell, you reckon the Bank will insist on knowing details? ... Man on low income suddenly getting however many thousand in his account. I'd better keep my receipts! 👍👊
They are the government and HMRC. They make the rules, change the rules and enforce the rules. So if they want to, they can do and possibly will. The only silver lining, no pun intended, is that their greasy mates in positions of power and wealth need an outlet for them to avoid a tax or capital gains grab and closing that loophole for them will upset them.
I love your gold porn and your voice! I feel stupid, but there's something I don't get: the gold lost in a boat accident. I mean, if you buy gold, you just need to keep the receipts, and when you sell it, you get taxed for the 26% of the surplus that you made. To prove that the surplus was X, you must show your buy/sell receipts, otherwise you'll be taxed 26% of the whole money you made selling that gold, not just on the surplus (I'm talking about my country Italy right now). I guess the illegal guy wants to sell the gold without declaring any income? And when the tax office comes and asks where did you get that money, his best option is to say that he sold some gold, which is true, and then it's a matter of having or not having the receipts/invoices, to pay as less taxes as possible. I don't see the point of saying that your gold got lost, which prevents you from being able to explain the origin of the money... Maybe if gold becomes illegal and the authorities come to your house asking where your gold is, like a "1984" situation, then the boat thing is good, but otherwise...
@BackyardBullion It's wise to keep an eye on what's happening when we try and sell any precious metals. Thank you for the information. I really enjoy your videos.
Very important topic, BYB - many thanks! Here are my procedures when BUYING from an LCS: 1) I never buy with cash. I ALWAYS use my card because I WANT the date of purchase to be tracked in my account statements by the bank, if needed! 2) When I come home I take one photo showing these four items: a) The LCS invoice. b) The receipt from the card terminal. c) The card I used. d) The very precious metal item(s) which I bought. When SELLING I receive a document of the sale which I photograph for my file. If my bank were to ask questions I can present them with the above two photos with which the money-in/money-out is documented. A WORD OF WARNING: If you do not have documentation of your original purchases and are to receive some thousand pounds into your account when selling the items in question - NEVER call the bank to notify them in advance about the incoming amount! The teller who picks up the phone will not be the person who may react to the amount! So if you do not have documentation for the original purchases all you can do is letting the sum come in and cross your fingers, alas!
The problem is there’s still people like you that still think that paper bills are money and silver and gold aren’t money. You should educate your people about using and take ADOPTION of silver and gold as money.if not then you still exactly trapped as the first day.
1,Get paid on friday. 2,Withdraw cash from bank on pay day, 3,Enter cardiff gold on Saturday morning and buy gold Sovereigns, 4, laugh at the bank. 5, job done, much love and goodnight.
Great idea, stop all this money laundering and maybe wecan end all the stupid bitcoin scams. I am just waiting for people to realize bitcoin has no meaning. What is it a computer code to find answers. WTF is that worth.
The point is its none of their business. The problem is we took our privacy for granted now its gone.
Yep
Perhaps you should be ranting about how money laundering millions is allowed and not scrutinised whereas 50k gets your account locked. Rules for thee and not for me.
Yes, a good point!
How about those businesses who only take cash?
@@user-ge3jk6fg1lThe nature of their business would account for the source of their money
@@user-ge3jk6fg1l what u mean couldn't they just take it out of the bank if your bank had 50K why wouldn't u be getting your cash
Never keep your money in the bank.
💯
Only keep as much money in the bank as you need to pay you bloody bills
Sure, sounds good!
I've got a receipt for everything I own. It started with lack of trust of insurance companies so I took photo's too.
I also don't trust the police, the banks, the Justice system or the government. At one time I'd of probably been put in a straight jacket but it's become the norm for most folk. Bar 31.
And if they do debank you where does the money go ? Close your account is one thing but taking your money is theft surely !
I had some grief with a Nationwide account, I told the woman I wanted all my money out there and then, she refused and said I need to order it. After a week I returned and walked out with 32k in a Lidls bag, they were looking at me as if I was mad lol.
Holding 32k in physical cash is in fact mad.
@@italianstallion701 why?
You are losing so much value every day to inflation!
Because so few have that much in cash , if you do people think you’re involved in crime
@@BackyardBullion this was a few years ago now, it's all been invested in property.
Keep it out of the bank. They don't use it for good.
Wow ... sucks to be in the UK these days
I'll bet they don't mess around wealthy people like this. As always they attack the vulnerable.
Indeed, the wealthy just stop doing business with them
This is why I have 4 current accounts with different banks
Compliance, is another term for Slavery.
Cash is king.
Use cash for everyday expenses.
Every time you use a card to pay for things, banks take a commission for processing.
By using cash, banks don't take a cut.
Disclaimer: Not financial advice, just own opinion. Find out what works for you personally and apply it.
I have been asked by 4 banks in the last 12 months all the information you were talking about and one of them froze £60k in my account and it took me 10 days to get it unfrozen.
The other 3 didn't freeze my account so I took out what I had in there and closed them all down.
Cool kid alert! Sucks man, I'm sorry
I have nothing but good things to say about the Nationwide.
It amazes me that they can just freeze access to your money. What happens if you don't have any money for food/ need to pay bills. If they force us to go cashless then what are people supposed to do? Starve? It amazes me in this modern age that there isn't a central bank that cant be taken away from you where you can access your funds for living expenses.
@@royalbiscuits8442usually DD/standing orders and card spends are still open.
@@royalbiscuits8442 it shouldn’t amaze you. Banks would let you starve, literally. Trust me.
Adding new money to the system probabaly warants AML proceedures , but as they also do it when money is transferred from one fca approved bank account to another bank account in the same name/address /DOB etc ( 2 of my friends and family have had this) means its nothing to do with AML regulations .
WHERE'S OUR CONTRACT'S BETWEEN CORPORATE GOVERNMENT & WE THE PEOPLE.
You cannot use the banks, you also cannot use cash.
Don’t think I would ever want to sell my precious metals for a fiat currency that looses around 4% on average a year.
Well, you might have to sell some one day if you need to, you know, pay for anything in the real world!
@ I get that and some people are unfortunately forced into a position where they have to sell.
I just hate fiat money it’s such a ponzi gold and silver for me are the real deal and will have their time one day.
Cash+LCS+never sell mentality=I'll be fine lol
I had a bank start asking all sorts of info. I decided the 2 dollars in the account now belonged to them and let them lock the funds.
Bar no 31! 🤩
How dó you prove your wealth..? 🤔 Does a person have no legal rights in regards to privacy and what a (commercial!) bank is allowed to ask from you?
If course you have rights to privacy. But if you want your money back you have to provide the information.
My bank has seen me buy all this gold and silver. But if you were buying and selling and had multiple banks, it would be bloody annoying.
What if you showed a significant amount 9f your gold and silver to your bank, before you sold it?
Then asking "where did all that currency come from?" Would be a question they wouldnt need to ask.
They would want to know where you got jr money from to buy the metals. It's about an audit trail of income.
Nanny-state gonna nanny
Yep
More like predatory-state gonna do predatory practices.
TRUST NO ONE 👤👥️ Mind your Business 👁
🔺️
I personally would correct the teller that this is fiat currency and not money, by definition. I can't help myself haha
I do wonder how much restrictions you can put on people's funds before bitcoin and stable coins take a leap in acceptance.
Also, anti money laundering laws and privacy laws seem to be at odds.
Furthermore, the sad part is that if people are treated as criminals more and more, more and more people will actually start to behave as criminals.
Wise words. The crypto escape is already happening, not just with individuals but nation states as well.
MY bank is my enemy so every penny I have has been converted to gold and is stashed in a safe place, outside the UK and the EU. For obvious reasons I'm stating where.
Bar number 31, did you say? Well, if feels good to be cool again. :). Thanks for the great video!
Thanks for being a cool kid club member!
I'm an American. As long as we keep our transaction below 35 ounces. It doesn't have to be reported.
Until your bank says, prove your wealth
Start keeping your fiat in a cold wallet period only use cold wallet and stop playing with the central bank
Change banks
Dido
They r all the same, change bank Futher down the line you are going to encounter the same problem
@tntwentyone2951 no, not accurate. Depends which country yur in i suppose
@@mickeylickey123 well I'm referring to the UK
They r all intertwined, fin tech banks r the new breed but they r clueless but have a good platform
Kraken seems pretty legit!
I have problems with my bank also when it comes to bullion or collectibles. I'm only limited to 4 purchases in 1 day.
4 oz a day is loads though 😂
@@UK-Blue 4 purchases not 4 oz LoL..
Change bank!
Store bullion at home. Buy small amounts at a time from local dealers or from private citizens with cash.
@@Stack4Life-yq9hw then make sure the purchases are high in value 😂
If I was you I'd move to America! If a bank here asked for such information I'd tell them to f**k off!
I fortunately do not deal with any kind of large enough amounts to draw problems, but i can totally see how gold purchases can cause undo scrutiny and attention, it will likely get worse as well as here in the US our government now wants to track any purchase of 600 or more.....not going to be able to buy it all without it being tracked somewhere. bar 31
A bullion dealer deposits fifty grand into his account, and the bank is at a loss as to why ?
They will want to see an audit trail of the money
@@BackyardBullion Makes me wish I kept records
AND they want to start charging you for cash deposits over a certain amount every month. It's maddening.
@@Steelythestacker FFS
On What Legal Grounds does the bank have this authority? Please post the page of Legalisation where this applies.
The money laundering regulations 2017
What BYB says - the banks in the western world have been ordered to be gatekeepers in order to prevent money laundering. If they perform this task sloppily they are being fined - hence the hysteria!
@BackyardBullion I'm reading it as businesses and depreciation of avoidance of paying capital gains tax which does not apply if you are selling UK Legal tender.
Also open up multiple accounts if the needs suffice keeping your main account separate to pay your general day to day needs.
My bank account doesnt pay interest, so never leave money in it. If i ever had to deposit a large amount, i would say i got it out of the bank, which the government put it there, in the form of my pension. I have very little in bills. Grow my own food, have solar panels, get free stuff and fix it to use. I really could have 200k under my mattress and not the 50 bucks i do have, but thats another story. I think if you dont have records of spending any where, you are fine.
Bar 31 baby!!! Merry Christmas buddy.
Thanks my cool kid club friend!!
Nice video thank you. Take it easy when you need to with the buyer's club thing, and I hope you and your family and everyone here have a nice Christmas season:D
Can you do better deals than Atkinsons ?
Yes, most of the time we do!
Don't put your money from sale into the bank
Then what do you do with it!
Be creative. I can turn silver into a clear liquid that looks like water. How many 20 liter water cooler bottles can you fit in your basement?
Open a limited company in the UAE. Do all your trading thru that.
My opinion is don't put all your eggs in one basket
bar #31. Crazy that if the banks knew who you were, they could literally watch how you earn your income.
Cool kids club!
Keep receipts or keep your money out of KYC systems.
you really do like to over dramatise the title...
I do like bar 31
Thanks!
My little wealth has doubled in 1 year through gold and crypto but my credit score is down. I've said it before, I'd welcome telling them and its recognised. If I sell i guess I'll have the same problem other wise?
Bar 31.
Can you tell me where you bought the clear plastic hard cases you have that your gold is in please ?
Regarding banks. It's a difficult one. Is the answer keeping cash at home? But even that is quite dangerous and is not ideal.
They are just lamination pouches and I do the lamination myself!
@@BackyardBullion Thanks
I am a cool kid bar 31, at least my mom says I’m the coolest kid in school😂😂😂
Definitely a cool kid!
I believe the gold price will increase at least 10% in a year. What if I take a personal loan with 6% APR and invest in the gold ? Is it a good idea ?
Idk how youre going to stand up to them when you have no. Guaranteed freedom of speech or second amendment. They do not have to listen to you and clearly do not fear the people. Bar 31
lol you think you have freedom of speech😂 and do you think you’re government fears you? Delusional much?
Cool kid club!
This " rule " within the banking system was never about money laundering "
It was always a guise by them to demand exactly what you have & where it came from
I believe more for HMRC to establish if you owe cgt / inheritance tax etc .
Heaven forbid the treasury to miss out on anything you may or may not owe .😮.
Remember what HMRC stands for .(His majesties revenue and collection).
As king Charles needs every penny he can get " struggling on with his €130m a year allowance.
You've never mentioned the bank...
No, I didn't. I don't want to be sued for defamation. They technically didn't do anything wrong.
@@BackyardBullion Ah, thank you. Just to say I know Barclays have always been OK.
Give us a clue
How can I prove purchases of gold and silver from 30 years ago? The till receipts long since faded . Will a spreadsheet entry of the purchase of 10 gold sovs for £800 be sufficient proof?
Bar number 31 😊
Cool kid club!
lol if u keep the money in the bank you get to do as you are told.
Bar 31!
Cool kid club alert!
Bar 31
Cool kid club!
16:51 👍🏻no31
Cool kid club!!!
Bar #31 🍸Cheers 🍾 🍾☕️
Bar number 31!
Could be interesting in the future.... I took a very small early pension and get some benefits. As I said t'other day I bought some metals in Perth WA 🌟 and intend on occasional purchases in the future (actually ordered a little today). And I'm going to sell my car and put a grand or so from that into a half oz coin.
So basically... In the future when I sell, you reckon the Bank will insist on knowing details? ...
Man on low income suddenly getting however many thousand in his account.
I'd better keep my receipts!
👍👊
It's entirely possible, yes.
31. What do I win?
1kg of gold. It's in the post! 😂
You win a cool kid alert from me!
Bar No. 31.
Bar number 31
Cool kid club alert!
Happy Stackin eh!
Thanks!
😅 bar 31 😊
Cool kid alert!!!
We all seem to think CGT coins will save us...but...what happens if they change those rules, can they or will they?
They are the government and HMRC. They make the rules, change the rules and enforce the rules. So if they want to, they can do and possibly will. The only silver lining, no pun intended, is that their greasy mates in positions of power and wealth need an outlet for them to avoid a tax or capital gains grab and closing that loophole for them will upset them.
When the UK banks and government want to control every individual a bit more. It'll happen sooner or later.
Bar 31. If i tell them i sold james a bag of magic beans for 50k, would that be enough.
Wow thant dont really happen in canada 😕 that would piss me off 🙄
Canada block the accounts of Truckers protesting for freedom and also donations from the public to them.
I love your gold porn and your voice! I feel stupid, but there's something I don't get: the gold lost in a boat accident. I mean, if you buy gold, you just need to keep the receipts, and when you sell it, you get taxed for the 26% of the surplus that you made. To prove that the surplus was X, you must show your buy/sell receipts, otherwise you'll be taxed 26% of the whole money you made selling that gold, not just on the surplus (I'm talking about my country Italy right now). I guess the illegal guy wants to sell the gold without declaring any income? And when the tax office comes and asks where did you get that money, his best option is to say that he sold some gold, which is true, and then it's a matter of having or not having the receipts/invoices, to pay as less taxes as possible. I don't see the point of saying that your gold got lost, which prevents you from being able to explain the origin of the money... Maybe if gold becomes illegal and the authorities come to your house asking where your gold is, like a "1984" situation, then the boat thing is good, but otherwise...
🤓 Bar #31
Bar number 31
Typo in the title 😂
Serial no 31 🎉 , did I win ? 😂
You're a cool kid club!
Bar 31.
Thanks for the video
Cool kid club alert!
@BackyardBullion It's wise to keep an eye on what's happening when we try and sell any precious metals.
Thank you for the information.
I really enjoy your videos.
31st vid of yours ive watched
Bar31
Cool kid club!
Ba#31
Cool kid alert!
I wish I talkto you that I'm going to sell
I'm not sure what you mean, but if you want to sell your gold or silver you can email me on byb@backyardbullion.com
Very important topic, BYB - many thanks! Here are my procedures when BUYING from an LCS:
1) I never buy with cash. I ALWAYS use my card because I WANT the date of purchase to be tracked in my account statements by the bank, if needed!
2) When I come home I take one photo showing these four items: a) The LCS invoice. b) The receipt from the card terminal. c) The card I used. d) The very precious metal item(s) which I bought.
When SELLING I receive a document of the sale which I photograph for my file. If my bank were to ask questions I can present them with the above two photos with which the money-in/money-out is documented.
A WORD OF WARNING: If you do not have documentation of your original purchases and are to receive some thousand pounds into your account when selling the items in question - NEVER call the bank to notify them in advance about the incoming amount! The teller who picks up the phone will not be the person who may react to the amount! So if you do not have documentation for the original purchases all you can do is letting the sum come in and cross your fingers, alas!
The problem is there’s still people like you that still think that paper bills are money and silver and gold aren’t money. You should educate your people about using and take ADOPTION of silver and gold as money.if not then you still exactly trapped as the first day.
Communism
That should be the law.
1,Get paid on friday.
2,Withdraw cash from bank on pay day,
3,Enter cardiff gold on Saturday morning and buy gold Sovereigns,
4, laugh at the bank.
5, job done, much love and goodnight.
Sure, sounds good!
Great idea, stop all this money laundering and maybe wecan end all the stupid bitcoin scams. I am just waiting for people to realize bitcoin has no meaning. What is it a computer code to find answers. WTF is that worth.
You are right on the money brother.🫎🫎
Bar 31
Cool kid club member alert!
Bar 31
Bar 31