Transfiguration is non-permanent, and any gold sold to Gringotts would be immediately tested for transfiguration. Additionally, trying to counterfeit gets the goblin nation to declare war on you. (Ch 15)
Trading his configured gold to muggles in exchange for other forms of currency would work, essentially laundering the transfigured gold in the muggle system and then giving real gold to the goblins.
Actually, with Imperius and Obliviate and false-memory charms, any wizard could steal unlimited quantities of money from muggles. Just kidnap the bank managers of large banks and Imperius them into taking a few suitcases of money home, take the money and remove their memory of having done it.
Really, this is only slightly more unethical than Harry’s arbitrage scheme. Currency is a sort of social agreement about valuation of assets, and abusing the monetary system results in … all the problems we’re having in the real world, for instance.
edit: and then I look further down the page and see someone saying this much better and pointing out why it probably wouldn’t work.
Transfiguration is non-permanent, and any gold sold to Gringotts would be immediately tested for transfiguration. Additionally, trying to counterfeit gets the goblin nation to declare war on you. (Ch 15)
Trading his configured gold to muggles in exchange for other forms of currency would work, essentially laundering the transfigured gold in the muggle system and then giving real gold to the goblins.
Actually, with Imperius and Obliviate and false-memory charms, any wizard could steal unlimited quantities of money from muggles. Just kidnap the bank managers of large banks and Imperius them into taking a few suitcases of money home, take the money and remove their memory of having done it.
Really, this is only slightly more unethical than Harry’s arbitrage scheme. Currency is a sort of social agreement about valuation of assets, and abusing the monetary system results in … all the problems we’re having in the real world, for instance.
edit: and then I look further down the page and see someone saying this much better and pointing out why it probably wouldn’t work.