You may not be able to eat it, but gold has been used as a store of value and medium of exchange for millenia. We’ve previously opined that it may not be long before it once again becomes the world’s defacto currency. Governments, investment firms and individuals alike have been accumulating gold assets amid currency debasement, rising inflation and economic uncertainty.
The latest example of gold’s acceptance into mainstream consciousness comes to us from none other than one-time Presidential hopeful, reality TV star and real estate mogul Donald Trump, who recently agreed to accept a security deposit for one of his properties in gold bars:
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—just three 32-ounce bars of gold, each about the size of a television remote control.
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.”
Mr. Trump said he has some gold in his personal portfolio, but declined to say how much.
Source: Wall Street Journal via All American Gold
As positive reports and acceptance of gold as a viable currency alternative continue to grow, we’ll no doubt see more people come to the conclusion that precious metals offer piece of mind in a period marked by crisis and confusion.
Silver is all I can afford.
You mean you can afford 44 times more silver than gold?
“secerity deposit” I think trump will pull a comex, and pay it back in fiat! (sorry, meant CRIMEX)
Uncle Ben says it’s just tradition.
better keep an eye on grandpa and grandma…the ruthless & desperate will carve their gold fillings right out of their mouths if gold takes-off like some are saying it will.
It’s already taken off!
They already are, and right inside the pawn shops too!
http://www.businessinsider.com/people-are-selling-their-gold-teeth-2011-4
My wife worked in a pawn shop a few years ago and saw this first hand. The pawnbrokers are nweighbors. They now keep latex gloves and a cleaning solution on hand for this.
Can someone tell me what’s happening to NG (novagold). Why is it down so much YTD? I’m thinking of skinny dipping, but don’t know if there’s a reason why people are fleeing.
http://finance.yahoo.com/q/ks?s=NG+Key+Statistics
They are losing $64 million a year, have just $115 million in cash on hand and owe $135 million. Those aren’t good odds.
If my tenents want to pay in gold or silver they can. I’ll take it any time.
And how about a goat or chicken eggs??
Where’d you find an egg laying goat??? LOL 🙂
Trump is probably using those three J. Matthey Kilo Bars as paper weights.
3 kilos is Trump Chump Change but deposit is protected & insured in full with no liabilities.
Pd is going up today!
Is this the last chance at the punch bowl Mac? There’s something floating in it…
Thanks jim! didn’t know that. only know that soros is out and paulson is still in.
I can’t stand Trump. I would never knowingly stay at any property owned by Trump. I would not watch a TV show featuring Trump. I would NEVER vote for Trump. Trump is a chump and only wants publicity..
oh… and Mr. Trump, if you are so stinking rich, DUDE, pay for an damn hairdresser to fix that insect trap on top of your head !!! SHEESH. Oooooh… how I dislike that man.
I could not agree more – Trump is a Hump! Another publicity grab for him; what an ego maniac. FYI he was out there promoting his property flipping course SCAM at the hight of the RE bubble fishing for suckers… he is a carnival clown with the hair to back it up.
Sam not sam,
I think it was you that posted a few days ago that you had bought a solar oven. Have you tried it? I read some reviews that the solar ovens made food cooked in them have a bad taste. Also, if you don’t mind…where did you buy it from? A solar oven is at the top of my list. I have looked at several places and they are marked at over $300.
Any help would be appreciated.
Thank you!
KY Mom
Hi KY Mom – yes, I bought one. It arrives tomorrow.. A couple of replies the other day mentioned that some reviews report a “plastic” taste to food.. I don’t know yet. I paid $241.99 which included FedEx shipping cost ( no charge for shipping ). I bought it from disasterstuff DOT com . Just go to their main page, on the left side in alphabetical order you’ll see “solar oven”. I also bought a Berkey Water filter from them quite some time ago.. good price, shipped quick..
We have two of these:
http://www.sunoven.com/usa/instructions-video.php
And, from time to time have used one. The food is cooked in metal or cast iron pots. NO PLASTIC TASTE>
I am confused. You hear the food tastes like plastic and you still want to buy one??
Very cool epicurian tastes.
be well
I bought my solar oven about 6 months ago. There is a plastic smell and taste initially but it goes away after a couple of uses. If you want to avoid this use the oven for a whole day without actually cooking in it.
Good point Irish… thanks. I was thinking that I might just do that anyway..
DocLRRP – I bought mine before I heard of this; but yes, I would’ve bought it anyway.. why ? I want a way to cook / heat food without relying on fuel and if the SHTF, I would be far less interested in an “aftertaste” than in being able to provide a meal for my family without being on the grid or making a lot of smoke..
Just unpacked it. There was a pink piece of paper titled ” PRE COOKING instructions “. I bet a lot of people don’t follow it, hence the “flavor”. There is an obvious smell from the varnish on the wood as well as the plastic tub, etc. First impression is this is a very clever device and thoughtfully ( well ) made. I’ll cure mine this weekend and give it a try..
Thank you Sam not sam, DocLRRP, and Irish.
Sam not Sam – Thank you very much for the information about the solar oven! I have ordered it and am looking forward to using it. 🙂
I have wanted a solar oven for a while. I think it is a great idea. With utility costs continuing to increase, it will be very useful. (Not long ago our gas bill alone took a 25% increase.) Also, I like the fact that I can still cook food and bake bread without heating up the house or using any electricity, wood, gas, etc.
To avoid heating up the house in the summer, I use my crock pot a lot, but hadn’t found an alternative to baking bread. I bet recipes for the crock pot (maybe with a little adjustment) will work great in a solar oven too.
I have read some really great reviews about the solar oven and some complaints (plastic taste in food). The reviews generally were either “great” or “terrible”.
I watched the short instruction video (above) about using the solar oven. I will follow the instructions! I will let it set out the whole first day – as suggested above. I will also thoroughly wash the oven with dish cleaner soap and rinse well BEFORE using – as recommended.
Thank you!
KY Mom
Also, I think that you’ll be pleased to know that with the exception of the thermometer, it is 100% made in the USA. If it works well, I will probably order 1 or 2 more. 1 is none and 2 is one.
I got a solar over a while back, and love it. I’m afraid I’m going to use it so much that I’m going to wear it out before TSHTF. I almost need to buy a spare.
Can you imagine how much one would be worth after TSHTF, they will be worth their weight in gold.
Time to buy some gold today. The price is down under $1800/ounce.
I am sure the corp. will come after him for not using the corp’s fiat currency. Of course, Trump is a member of the corp, so mayb the corp won’t care so much. But maybe the corp will confiscate his gold so the corp can have it for it’s corpy type things. That ought to get your CORPuscles moving.
Dam corp!
Apmex who is leasing the property is a huge pm dealer. This is advertisment for them. But I also support the use of pm instead of fiat dollars. Do I like the idea of using silver to get the few things I need? Absolutely.
But today I ordered tattler lids and can’t budget silver into this month, oh well.
God’s Cremation…?
That’s good shit on many levels, I laughed till I cried.
Nice.
My local whorehouse accepts gold now.