Donald Trump Wants Payment In Gold, Not Dollars

Posted by majestic on September 16, 2011

Photo: Gage Skidmore (CC)

Brett Arends suggests that the Donald preferring gold bullion to cash is probably the beginning of the end of the incredible run up in gold prices. From Marketwatch:

The Donald has just accepted gold bullion instead of cash. According to my colleague at the Wall Street Journal, Trump accepted $176,000 in bullion as a security deposit on space at 40 Wall Street from Apmex, a precious metals dealer.

Trump used the occasion for some publicity, and a dig at the Obama administration. “It’s a sad day when a large property owner starts accepting gold instead of the dollar,” Trump said in an interview. “The economy is bad, and Obama’s not protecting the dollar at all….If I do this, other people are going to start doing it, and maybe we’ll see some changes.”

Oh, brother.

When a self-promoter like The Donald jumps on a bandwagon, you know it’s getting a little old. For all his big reputation, Trump’s career over the past two decades is littered with the wreckage of high-profile deals he cut at the peak of each boom. Think: Trump Taj Mahal casino (bankruptcy, 1991). Trump Hotels & Casino Resorts (2004). Trump Entertainment Resorts (2009).

Or the “Trump International Hotel & Tower,” a luxury condo development in Fort Lauderdale planned and built in… happier times.

News that Trump is backing gold comes after the metal has already skyrocketed in price. Gold has so far jumped nearly 30% so far this year, and more than 500% in a decade.

What’s next?…

[continues at Marketwatch]

Posted in: Donald Trump, Gold

Wanooski

I’ll accept payment in 7.62mm ammunition. Because it’s more useful. As well as boots, tools, or electrical components. I wanna build my own electricity generating windmill.
Okarin

this is good for gold because what makes gold a bubble is people are using gold to store their wealth and if inflation doesn’t kick in to the point where barrels of cash is used to buy bread then people will just go back to the dollar for business transactions and gold will crash. but if people start to use gold as currency now then there will be a use for gold now and that’s what will transform it from a bubble to a currency. trump helps but we need more people doing it.
Mamagriff50

Think about it…gold is worth more than the $. pretty soon the $ wont be worth the paper it’s printed on. I would rather be paid in gold and precious metals too.
Hadrian999

there is a reason we stooped using the gold standard, that reason hasn’t changed
Anonymous

I’d rather be paid in black market organs. Steve Jobs will need another liver any day now.
MercuryFish

Lets pretend that objects outside ourselves are more powerful than the mind perceiving them. It’s 2011, are we still really this superstitious? Why can’t man see beyond the idols he’s built? We have become slaves to the ideas of lesser men.
Hadrian999

everyone out there thinking gold is a good currency at current prices how much gold would buy a burger and a beer, a magazine, a candy bar, how would you make and receive change. as an every day medium of exchange gold is a giant pain in the ass
Hadrian999

concubines, natures perfect currency
Anonymous

That works even better.
Irishpotatogun

That and NATO will bomb you or you’ll be assassinated.
Rooti

So Trumps request for payment in gold will be the end of the run up in gold prices? How?? Our paper money is losing its value like no tomorrow. Money in the bank (numbers on paper) is also losing out because it is outpaced by the inflation rate. Gold and silver are simply commodities that maintain their value regardless of inflation. When the currency collapse occurs we will fall back to a barter system until a new monetary system is implemented but gold and silver will always be the ultimate currency, just like it has been for thousands of years.
Andrew

More people accept dollars in more situations–paying exact amounts and making change are easier–so dollars are worth more.
Kackljas

Why not silver? Gold’s trendy.
http://pulse.yahoo.com/_WSPVLVNHHKSBPPXD3KSNJWTTFY kommi

FEED HIM GOLD & gold only people
http://pulse.yahoo.com/_WSPVLVNHHKSBPPXD3KSNJWTTFY kommi

FEED HIM GOLD & gold only people
http://www.facebook.com/people/Jamie-Williams/609714306 Jamie Williams

First your hating on Ron Paul and now your predicting a bubble in gold. You guys tell no lies. You really are disinformation ha ha ha
Hadrian999

remember the 80’s at all?
Simiantongue

I’ve only ever accepted any type of payment as small vials filled with the tears of children shed exclusively because their dreams have been taken away. It’s the only true currency, accept no substitutes.
http://pulse.yahoo.com/_KAWJ4BBSPWGE47Q56RRMU53KIE Christopherk

http://www.youtube.com/watch?v=E5VNAEmmBQM&feature=share

Mike Maloney breaks it down.
http://pulse.yahoo.com/_KAWJ4BBSPWGE47Q56RRMU53KIE Christopherk

there is 3x less silver in the world compared to gold. dont be surprised when silver is worth more
Anonymous

“His fanbois, The Ronulans, are probably some of the most easily trolled on the entire internet. ”- Encyclopedia Dramatica, the source for all factual knowledge.
Anonymous

Seasoned Donald Trump haters (like me) might find comic relief in the fact that the UK government is planning on building a massive wind farm just off the coast from his outrageous golf complex in Scotland. Donald spent years buying off and bullying people in order that the project might go ahead… and now his precious views will be ‘blighted’. Hahahahahah.
Fat bastard.

http://news.scotsman.com/scotland/Donald-Trump-vows-global-legal.6837223.jp
Wanooski

Ronulans is way better than paultards.
Anonymous

If someone as inept at holding on to money as Trump is buying gold, a crash in the value of the stuff must be imminent.

Donald Trump Wants Payment In Gold, Not Dollars

more disinformation

more disinformation