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Trump's New Gold Standard

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posted on Sep, 14 2011 @ 02:05 PM
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Trump's New Gold Standard



Trump's New Gold Standard


In the latest development in the growing surge of support for a return to some form of gold standard, Donald Trump has decided to accept gold bullion as a deposit on a commercial lease. This follows a news story reported on earlier this year where Utah became the first state to legalize gold and silver coins as currency.

On Thursday, the newest tenant in Donald Trump’s 40 Wall Street, a 70-story skyscraper in Manhattan’s Financial District, will hand Mr. Trump a security deposit worth about $176,000. No money will change hands, rather three 32-ounce bars of gold.

The occasion will mark the first time the Trump Organization has accepted 99.9% pure gold bullion, rather than cash, as a deposit on a commercial lease. The tenant, precious-metals dealer Apmex, will sign a 10-year lease for 40 Wall’s 50th floor at a leasing rate of about $50 a square foot, according to Apmex Chief Executive Michael R. Haynes. The company is promoting the use of gold as a replacement for cash in some situations.

“Gold has been a valuable asset class for the last 10,000 years, but the world has drifted away from it,” Mr. Haynes says. “I figured, Trump is a smart guy, and he’ll realize that taking gold is a better idea than taking cash.”

Mr. Trump said he sees the deal as a repudiation of the Obama administration’s economic policies, of which he has been a vocal critic.

“It’s a sad day when a large property owner starts accepting gold instead of the dollar,” Mr. 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.”



Donald Trump is now accepting gold for transactions




posted on Sep, 14 2011 @ 02:09 PM
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Wonder how long it will be before the feds find a way to put him in jail for breaking some obscure law.

The feds certainly cannot have anyone competing with their almighty dollar.

Does this qualify for see something say something?
edit on 14-9-2011 by Skewed because: (no reason given)



posted on Sep, 14 2011 @ 02:14 PM
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Man, Trump must absolutely hate Obama!


I honestly didn't know it was legal to pay in gold or silver let alone in mass amounts like that. I'd say it may be a hint of what's to come but it being Trump that did it makes me think it's a Publicity Stunt.



posted on Sep, 14 2011 @ 02:16 PM
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Perhaps Donald finally wised up and now wants some gold for when the dollar finally collapses


I do wonder sometimes though, if TPTB will try to bring the price of gold down by buying huge amounts of it and then selling it at a fraction of the cost..

It could work for them or maybe not. There are a lot of buyers now and they would love if the price went down. But if it does work, then gold would be so cheap that it would not be worth the investment...

Maybe then the government will buy it all again once they have driven the price to the ground, and then they will own all the gold? My conspider sense is tingling!



posted on Sep, 14 2011 @ 02:16 PM
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I was wrong stating: It is illegal to keep gold bullion in the US. You can keep coins, like Kugerand's, but not bullion.

Gold Bullion Coin Act of 1985

Sorry, I was wrong. The law changed:
Was gold illegal to own at one time ?

Yes, in this country, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be freely held in the U. S. without any licensing or restrictions of any kind.
Source


edit on 14/9/11 by spirit_horse because: (no reason given)



posted on Sep, 14 2011 @ 02:21 PM
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This is just another publicity stunt by the Donald to keep himself in the news.

Trump is a joke.



posted on Sep, 14 2011 @ 02:52 PM
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reply to post by TheHistorian
 


Agree just Trump being Trump, a class A douche with nothing but spite and malice dripping from every pore in his body. I hope he has a heart attack on the golf course he is building in my fair land.



posted on Sep, 14 2011 @ 04:54 PM
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reply to post by wisdomnotemotion
 

I was not aware Utah had done this. As a resident, I have not seen any gold coins circulating at the car wash. However, this is Utah so you never know.



posted on Sep, 14 2011 @ 04:57 PM
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Will the feds view this the same way they view medical marijuana? Ignore state's rights? A man was arrested as a financial terrorist for minting gold coins, so what will happen to Utah? That's great news though, I hope they become a model state for the rest of the nation.



posted on Sep, 14 2011 @ 04:57 PM
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And since it is not in dollars he doesn't have to pay a dime in taxes.


edit on 14-9-2011 by VforVendettea because: (no reason given)



posted on Sep, 14 2011 @ 08:53 PM
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Frankly I do not see any problem here. If Trump wants to accept gold in exchange for renting property that he owns, that is his prerogative. He can accept anything he so desires and it does not have to be money. Accepting gold and or silver bullion is far wiser that accepting a fiat currency. Gold and silver have value no matter what the markets or currencies do. All fiat currencies have $0 value at the end of the day.

To top it off, people cry because he doesn't have to pay taxes on the bullion. Would you still cry if it was apples or clam shells? Yet another smart move on his part. If you do not have hard assets and you are just holding on to paper, when the markets crash, you will be financially wiped out. Now go laugh and complain about Trump accepting gold.



posted on Sep, 16 2011 @ 12:20 PM
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One of the smarter things Trump has done! I rented some equipment I own the other day and was offered silver for it. We will see this more and more as confidence in the dollar evaporates.




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