How's the gold situation?

Our family relocation to Taiwan is rapidly approaching (Oct 3rd). I’d like to bring along some gold bullion and would like to hear from anyone who’s brought gold into the country. I believe it must be declared but don’t know much beyond that. Are there limits? What happens when you declare the bullion?

Thanks!

Here’s a link for you:

ehow.com/list_6756254_taiwan … tions.html

Here is the relevant paragraph;

Inbound Gold and Currencies
•Gold brought into Taiwan must be declared regardless of the amount. If the total value is over US$20,000, a permit from Taiwan’s Bureau of Foreign Trade is needed. Foreign currencies must be declared, and any amount over the equivalent of US$10,000 will be confiscated. Travelers cannot bring in more than NT$60,000 without a permit. Passengers may also not bring in Chinese currency notes exceeding 20,000 RMB (the currency of China) without declaring it.

Back luck, you’ve choosen the one country I know of where you have to declare gold.

Have it melted into cheap jewellery and wear it in. Plenty of people here do.

[quote=“Gman”]Here’s a link for you:
Inbound Gold and Currencies
•Gold brought into Taiwan must be declared regardless of the amount. If the total value is over US$20,000, a permit from Taiwan’s Bureau of Foreign Trade is needed. Foreign currencies must be declared, and any amount over the equivalent of US$10,000 will be confiscated. Travelers cannot bring in more than NT$60,000 without a permit. Passengers may also not bring in Chinese currency notes exceeding 20,000 RMB (the currency of China) without declaring it.

Back luck, you’ve choosen the one country I know of where you have to declare gold.[/quote]

Thanks, I’ve read similar information. Curious what it means to ‘declare’ the gold, as in, will they tax it? We’ve decided to keep our stash in a safe deposit box in the US until we’re settled in Taipei and know a little more. Or perhaps grow another stash while we’re there.

My wife is Indian. She has some jewelry dedicated for just such purposes :wink:

It might be time for a split. When gold splits, then it’s only worth half of what it used to be.

If anybody thinks that you will make money in commodities, like gold, think again. The invitation is there but there are soooo many more people that are soooo much smarter than you with commodities, they are just sucking you in to take your money. This episode isn’t the first. So many people sold their granny’s gold jewelry back in the 80’s and were left with nothing. It hurts honest investors. Be careful with the gold. Check the comments by Buffet. Paraphrased, They dig gold up in some part of the world, sell it and transport it across the globe to store it in a bunker somewhere and hire people to protect it. Wanna buy? I for one will pass. Invest in a “Real Company”. Do the research and make your decesion. Buy the company - not the commodity.

I once told my wife she was crazy for wanting to buy gold. That was not so long ago when it was $400 an ounce and thankfully she bought some anyway.

Honest investors?? The market is at war with honest investors. Bailed out banks are cutting dividends and paying out record bonuses. High frequency trading, bailouts, crony capitalism, have all displaced the fundamentals in trading. There will be a day when gold like any investment will peak, but we’re a long way from that when the Federal Reserve Bank (along with other central banks) is on a perpetual counterfeiting binge. Right now its a very easy call.

It’s often quoted that in 2009 billionare investor George Soros said gold was the “ultimate bubble”. What’s not often quoted is later that year he poured hundreds of millions into the barbarous relic.

Even Allen Greenspan, one of the chief architects of gold price suppression came out recently with “Fiat money has no place to go but gold.” He went on to say rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies”. Simply put, the jig is up and people are on a flight to safety. Gold is the safest asset, you cannot print gold.

I don’t think most people are investing in gold to make money. They are just trying to protect their wealth from currency debasement. Watch for another impending round of quantitative easing, and see the price of gold make another stair step gain.

Counterfeiting? I hate to tell you, but all over the world all governments have always printed new money continuously.

You don’t expect people to keep using money like this, do you?

Well, then I guess the Fed will have to keep printing money (though I agree the volume is a serious issue).

As for the gold bubble, it’s not just some old Soros conspiracy theory. Of course not everyone agrees, but plenty of experts are getting nervous now, waiting for the bubble to burst.

seekingalpha.com/article/226988- … old-bubble

See also
thestreet.com/story/10882569 … burst.html
bloomberg.com/news/2010-10-0 … ollar.html
timeslive.co.za/business/art … y-analysts
theatlantic.com/business/arc … ble/63548/

Counterfeiting? I hate to tell you, but all over the world all governments have always printed new money continuously.
[/quote]
I think my use of the term “binge” adequately describes the current upward trend in printing (aka currency debasement) that is happening.[quote]
You don’t expect people to keep using money like this, do you?

[/quote] That’s a great example of where our currency is heading, extinction

[quote]
Well, then I guess the Fed will have to keep printing money (though I agree the volume is a serious issue).

As for the gold bubble, it’s not just some old Soros conspiracy theory. Of course not everyone agrees, but plenty of experts are getting nervous now, waiting for the bubble to burst.

seekingalpha.com/article/226988- … old-bubble

See also
thestreet.com/story/10882569 … burst.html
bloomberg.com/news/2010-10-0 … ollar.html
timeslive.co.za/business/art … y-analysts
theatlantic.com/business/arc … ble/63548/[/quote]

The volume of money being printed is an enormous issue, it’s the only move left in the Fed book of plays, and it isn’t working.

There are an infinite number of opposing opinions on gold. Through the years at every major uptick in gold prices you find the same cautious attitudes about the gold bubble popping. It’s almost as if certain experts are hoping eventually it will fall in line with their call.

Bottom line is we as individuals have to decide for ourselves, and I’ve decided to view the US dollar as a toxic asset. Our first purchase of gold has gone up over 300% in five years, so I’m comfortable with our decision. When the Fed and US government get back to sane monetary policies I might reconsider but I’m not holding my breath for that day.

THere’s a statistic that is China put 15% of it’s debt into gold that it would take more than the world’s annual production. Currently it has just a few % in gold. There is no point for central banks to all jump into it as it would quadruple in price immediately. There IS upside in gold I guess, can’t see it dropping with US supposedly about to print a whole load more banknotes. Sure it’s a bubble but when will it pop.
I think investing in agriculture related stocks might be a good one…since inflation might rear it’s head soon and increased demand worldwide.