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Re: Trump Accepts Gold Instead of Dollars From Tenant 

By: Decomposed in FFFT | Recommend this post (1)
Thu, 15 Sep 11 7:15 PM | 60 view(s)
Boardmark this board | Food For Further Thought 		Msg. 33580 of 65535
(This msg. is a reply to 33574 by clo)
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I'm sure that Trump is doing this for political reasons, not economic. He's trying to make a point.

But that doesn't matter. He's right that now that he's doing it, others will do so as well.

I've been subscribed to a newsletter that, for years, has accepted gold as a form of payment. There's even a service that provides for gold exchanges, effectively letting people "wire" gold.

Change in our monetary system is slowly occurring. The thing to remember is this: As hot topics as debt and our money are these days, it will NEVER get better. The problems only get worse from now on.




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Trump Accepts Gold Instead of Dollars From Tenant
By: clo in FFFT
Thu, 15 Sep 11 5:00 PM 		Msg. 33574 of 65535


Trump Accepts Gold Instead of Dollars From Tenant
By Elizabeth MacDonald

Published September 15, 2011
| FOXBusiness

Reuters
"The rent’s too damn high," to quote Jimmy McMillan, former New York State gubernatorial candidate.

And for Donald Trump, that’s true when it comes to rent in cold hard dollars, given his sharp criticisms of the Federal Reserve’s open fire hydrant of dollar printing and the Obama Administration’s fiscal policies.

Which is why, for the first time ever, Trump will accept today gold bullion instead of dollars for a lease deposit from his newest tenant in one of his marquee properties, 40 Wall Street, a 70-story skyscraper in Manhattan's Financial District that at one time was the tallest building in the city until the Chrysler Building surpassed it. Trump will accept the gold at an event in the lobby of the Trump Tower at 725 Fifth Avenue.

Usually, Trump gets a certified check for a security deposit when leasing space in one of his office towers. But we’ll have a 'First on Fox' exclusive interview with Trump today as he accepts gold bullion worth about $200,000 from Michael Haynes, chief executive of precious metals dealer APMEX. The gold payment was APMEX’s idea -- Trump’s press office says Trump has been bullish on gold due to his concerns about the value of the U.S. dollar.

The gold is the security deposit for a 10-year commercial lease of the entire 50th floor at 40 Wall Street. The building is also known as The Trump Building. Trump bought and restored the building in 1995.

The gold bars are 0.9999 pure and weigh 32.15 troy ounces each.

APMEX’s lease maths out at about $50 a square foot, says Haynes.

“Trump is a smart guy, and he'll realize that taking gold is a better idea than taking cash," Haynes says.

Trump said in a statement: "It's a sad day when a large property owner starts accepting gold instead of the dollar. 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."

Read more: http://www.foxbusiness.com/markets/2011/09/15/trump-accepts-gold-instead-dollars-from-tenant/#ixzz1Y1l2nZGG

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