Donald Trump Wants Payment In Gold, Not Dollars

Photo: Gage Skidmore (CC)

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]

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47 Responses to Donald Trump Wants Payment In Gold, Not Dollars

  1. Anarchy Pony September 16, 2011 at 2:22 pm #

    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. 

  2. Wanooski September 16, 2011 at 6:22 pm #

    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. 

  3. Okarin September 16, 2011 at 2:41 pm #

    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.

  4. Okarin September 16, 2011 at 6:41 pm #

    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.

  5. Mamagriff50 September 16, 2011 at 3:12 pm #

    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.

    • Andrew September 16, 2011 at 7:44 pm #

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

  6. Mamagriff50 September 16, 2011 at 7:12 pm #

    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.

  7. Hadrian999 September 16, 2011 at 3:15 pm #

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

  8. Hadrian999 September 16, 2011 at 7:15 pm #

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

  9. Redacted September 16, 2011 at 5:14 pm #

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

    • Hadrian999 September 16, 2011 at 6:04 pm #

      concubines, natures perfect currency

      • Redacted September 16, 2011 at 6:22 pm #

        That works even better.

  10. Anonymous September 16, 2011 at 9:14 pm #

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

  11. MercuryFish September 16, 2011 at 5:51 pm #

    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.

  12. MercuryFish September 16, 2011 at 9:51 pm #

    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.

  13. Hadrian999 September 16, 2011 at 5:54 pm #

    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

    • Irishpotatogun September 16, 2011 at 7:34 pm #

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

  14. Hadrian999 September 16, 2011 at 9:54 pm #

    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

  15. Hadrian999 September 16, 2011 at 10:04 pm #

    concubines, natures perfect currency

  16. Anonymous September 16, 2011 at 10:22 pm #

    That works even better.

  17. Irishpotatogun September 16, 2011 at 11:34 pm #

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

  18. Rooti September 16, 2011 at 7:36 pm #

    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. 

  19. Rooti September 16, 2011 at 11:36 pm #

    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. 

  20. Andrew September 16, 2011 at 11:44 pm #

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

  21. Kackljas September 16, 2011 at 7:46 pm #

    Why not silver? Gold’s trendy.

    • Christopherk September 17, 2011 at 1:24 am #

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

  22. Kackljas September 16, 2011 at 11:46 pm #

    Why not silver? Gold’s trendy.

  23. kommi September 16, 2011 at 9:02 pm #

    !FEED DONALD GOLD PEOPLE FEED HIM GOLD!!!!! HE NEEEEDDDZ MOHRE GOOOOLD…

  24. kommi September 17, 2011 at 1:02 am #

    FEED HIM GOLD & gold only people

  25. kommi September 17, 2011 at 1:02 am #

    FEED HIM GOLD & gold only people

  26. Jamie Williams September 16, 2011 at 9:26 pm #

    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 September 16, 2011 at 9:29 pm #

      remember the 80′s at all?

    • Redacted September 17, 2011 at 3:56 am #

      “His fanbois, The Ronulans, are probably some of the most easily trolled on the entire internet. ”

      - Encyclopedia Dramatica, the source for all factual knowledge.

      • Anarchy Pony September 17, 2011 at 2:16 pm #

        Ronulans is way better than paultards.

  27. Jamie Williams September 17, 2011 at 1:26 am #

    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

  28. Hadrian999 September 17, 2011 at 1:29 am #

    remember the 80′s at all?

  29. Simiantongue September 16, 2011 at 9:44 pm #

    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.

  30. Simiantongue September 17, 2011 at 1:44 am #

    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.

  31. Christopherk September 17, 2011 at 1:22 am #

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

    Mike Maloney breaks it down.

  32. Christopherk September 17, 2011 at 5:22 am #

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

    Mike Maloney breaks it down.

  33. Christopherk September 17, 2011 at 5:24 am #

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

  34. Anonymous September 17, 2011 at 7:56 am #

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

  35. cakey pig September 17, 2011 at 10:14 am #

    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 (in what was designated both an ‘area of outstanding natural beauty’, and ‘an area of special scientific interest’) …and now his precious views will be blighted. Hahahahahah.
    Fat bastard.

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

  36. Anonymous September 17, 2011 at 2:14 pm #

    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

  37. Wanooski September 17, 2011 at 6:16 pm #

    Ronulans is way better than paultards.

  38. Reasor September 18, 2011 at 12:50 am #

    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.

  39. Anonymous September 18, 2011 at 4:50 am #

    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.

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