Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
For Trump, Gold Is Better Than Cash


 -- Published: Tuesday, 8 March 2016 | Print  | Disqus 

By Randy Desoto

Trump-3-Gold-Bars

Is gold better than cash? Donald Trump accepted three bars of it as a security deposit when a new tenant moved into his 40 Wall Street property in New York’s financial district.

Michael Haynes, chief executive of APMEX, the tenant, convinced the real estate mogul that accepting gold offered the greatest security for him. “I figured, Trump is a smart guy, and he’ll realize that taking gold is a better idea than taking cash.”

IMPORTANT NOTE:  I published this article because several readers have asked me what does Presidential candidate Donald Trump think of gold.  I found this article interesting as Trump took three gold bars as a security payment for leased business space from an executive at APMEX.

I do not promote any candidate either Democrat or Republican.

Also, the ads you see on my site are Google Ads.  They change based on each individuals internet usage and searches.  I have NO CONTROL over the ads on the site…YOU DO.  However, without the revenue from the Google Ads, I could not continue the SRSrocco Report site.

Haynes gave Trump three 32 ounce gold bars for APMEX’s deposit, valued at over $100,000. At the time, Trump expressed concern about the nation’s currency. “It’s a sad day when a large property owner starts accepting gold instead of the dollar,” Mr. Trump told the Wall Street Journal.

“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,” the businessman added at the time.

“Trump recognizes the vulnerability of the value of the dollar over time and the inflationary pressures on our economy due to Obama administration policies,” Peter Reagan, financial market strategist at precious metals dealer Birch Gold Group, said.

Could Trump’s acceptance of gold as currency be a glimpse into what a potential President Trump would do? And furthermore, could a gold backed currency be a centerfold for his economic policy this election?

Looking at recent history suggests that Trump could indeed put forward a bold, gold-backed economic policy proposal.

Until 1971, the U.S. dollar was backed by gold. Foreign nations knew they could always bank on its value being based not only on the full faith and credit of the United States government, but on a commodity that has had an intrinsic value through the ages.

The dollar is a “fiat” currency based entirely on faith those trading in it have in the United States government. Trump and many others see much to be concerned about on that front. The National Debt, over $18 trillion, now exceeds the total Gross Domestic Product of the United States. Because of the country’s fiscal outlook, Standard and Poor’s downgraded the U.S. credit rating for the first time in the history of the agency.

Additionally, the Federal Reserve has monetized much of the deficit spending of the last several years, “printing money out of thin air” to the tune of trillions since 2008 to help pay for the nation’s shortfall.

Faith in the dollar can change rapidly as was seen in recent years, when it fluctuated significantly against foreign currencies, seeing a major decline in 2011, with several ups and downs since.

Original article here: For Trump, Gold Is Better Than Cash, by WesternJournalism.com

Please check back for new articles and updates at the SRSrocco Report.  You can also follow us at Twitter below:

SRSroccoReport Twitter Button


| Digg This Article
 -- Published: Tuesday, 8 March 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.