Posted on 04/06/2016 6:01:25 PM PDT by VitacoreVision
In a deal that defies currently accepted norms, Donald Trump has rented out the 50th floor of the Trump Building at 40 Wall Street to American Precious Metals Exchange (APMEX) and has allowed the company to pay the security deposit in gold.
Trump agreed to accept three 32-ounce bars of gold in lieu of the cash security deposit. As of this writing, gold was trading at $1227.40 per ounce, making the 96 ounces of gold that Trump is holding worth $117,830.40. That should be more than sufficient to cover the security deposit for the 10-year rental.
The deal is a win-win situation for Trump and APMEX. Trump is holding a medium of exchange that has real value instead of U.S. dollars, which are only backed by the faith people have in the government that issues them. For its part, APMEX will likely be able to count the 96 ounces of gold among its assets, so the security deposit doesn’t really impact either the company’s value or its cashflow.
In a video produced by Birch Gold Group, Trump expressed his feelings about the value of the U.S. dollar:
Sadly we all know what’s happening to the dollar. The dollar is going down and it’s not a pretty picture, and it’s not being sustained by proper policy and proper thinking. This was an opportunity and maybe an opportunity to show people what’s happening with the dollar so we can do something about it.
Trump added, “I never thought this would happen — this is the first time it’s actually happened — and maybe it’s going to set a trend.”
Michael Haynes, CEO of APMEX, agrees. He told Birch Gold Group that he believes his company will continue to make deals similar to this in the future. “As we continue to [expand] our footprint here in New York — we’re planning on taking some more space, hopefully, as our business continues to grow and we expand around the globe — and as we take on more obligations, perhaps we’ll be required to give more gold as a security deposit,” he said.
As the U.S. dollar continues to ride an up and down (mostly down) roller-coaster, gold continues to gain traction as a solid medium of exchange. Perhaps in the future, more and more businesses will use gold, not just as an investment, but as payment for business transactions. After all, gold and silver are the lawful currency of the United States, according to Art. II. Sec. 10 of the U.S. Constitution.
ping
He speaks quickly, volubly, and with great detail.
I sometimes had the feeling he could have spoken for 12 hours, if so permitted.
He must be amazing to be around.
I read on here to purchase silver American Eagles as they had been assayed. I had some novelty silver coins that I sold and invested back into AEs.
...until it warms up.
I just can't imagine holding any significant amount of gold. I wouldn't want to own it, unless I had physical possession of it, but then where would I put it? If I hid it, I would have to tell someone where it is, but then it isn't hidden. It collects no interest (not that anything else does now, either). It's hard to sell if there's not a catastrophe. I'll stick with open land. It's cool, too.
Ain’t that the truth! The price of one gold eagle would buy a lot of silver eagles.
I agree with you that land is the better investment. As long as you can afford to pay the property taxes.
The Government will eventually outlaw possession of gold.
Also in the event of a crisis do you want to be known as the fellow who pays for everything with gold?
Funny thing is that I believe in a gold standard to keep the Govt. honest and because its in the Constitution.
But its a really bad investment because of the above reasons.
You can always buy Silver, just buy more of it. Easier to bust a Silver Eagle than a Gold Eagle, what would you take in change?
Open land is a great investment for the future. Don’t know what State you are in just hope it isn’t in Connecticut.
Donald was smart enough not to be paid with GLD.
Have you read “Currency Wars”?
Oh, I wouldn’t own anything by proxy, or whatever it’s called; it’s got to be here in my physical possession, to have and to hold or—no sale. One place tried to get me to invest while they held onto the gold, I ran away from that one. And the only land I could afford now would be the earth in the proverbial pot to piss in! Heh. I bought my metals from Noe’s Coins and Collectibles in Maumee, OH, google Tom Noe to see what he’s still in the clink for...
Yeah, I’m looking to invest in some sliver bullion. Not much, just some for now.
Sliver? Derp.
Opinion: Donald Trump made a case for gold — and no one noticed
http://www.marketwatch.com/story/donald-trump-made-a-case-for-gold-and-no-one-noticed-2016-01-20
Their latest figure for all the gold in the world is 171,300 tonnes - A gold cube made of 171,300 tonnes would be about 20.7m.
Now image as 1/4 mile dia asteroid make of gold.
How Much Gold Does Donald Trump Own?
http://www.kitco.com/news/2015-07-24/How-Much-Gold-Does-Donald-Trump-Own.html
July 15, Republican Presidential candidate Donald Trump submitted his financial statement to the Federal Elections Commission (FEC), listing his assets and liabilities, and according to the information, he owns between $100,001 and $200,000 in gold.
Even more impressive his gold holdings were reported on page 36 of the 92 pages that made up his disclosure statement. What is interesting is that his holdings appear to be in physical gold — bullion — not shares of gold-backed exchange-traded funds, nor future’s contracts.
thanks.
James Rickards-Gold $10,000 to $50,000 per Ounce
https://www.youtube.com/watch?v=R7enXdJAuHA
Yeah, I’m looking to invest in some sliver bullion. Not much, just some for now.
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They fed me bouillon and Jell-O last time I was in the hospital. That’s some nasty stuff!
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