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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  • Anarchy Pony

    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. 

  • 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.

  • 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.

    • Andrew

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

  • 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 stopped using the gold standard, that reason hasn’t changed

  • Hadrian999

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

  • Redacted

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

    • Hadrian999

      concubines, natures perfect currency

      • Redacted

        That works even better.

  • 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.

  • 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

    • Irishpotatogun

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

  • 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. 

  • 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/_KAWJ4BBSPWGE47Q56RRMU53KIE Christopherk

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

  • Kackljas

    Why not silver? Gold’s trendy.

  • http://pulse.yahoo.com/_WSPVLVNHHKSBPPXD3KSNJWTTFY kommi

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

  • 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?

    • Redacted

      “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

        Ronulans is way better than paultards.

  • 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.

  • 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://pulse.yahoo.com/_KAWJ4BBSPWGE47Q56RRMU53KIE Christopherk
  • 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.

  • cakey pig

    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

  • 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.

  • Reasor

    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.

  • 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.

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