Trump: I Heart Gold

Nothing new here.  September 15th MSN ran the big headline… “Trump Takes Payment In Gold Bars” from his latest tenant, a precious metals dealer. Three gold bars worth a $176,000 for the security deposit.

The newest tenant at Trump’s 40 Wall Street skyscraper is a precious-metals dealer, and Trump has agreed to accept the tenant’s $176,000 security deposit in gold. The dealer, Apmex, will give Trump three 32-ounce bars of gold, each about the size of a television remote control, The Wall Street Journal reported.

It’s the first time Trump has agreed to gold instead of cash as a lease deposit. “I figured Trump is a smart guy, and he’ll realize that taking gold is a better idea than taking cash,” said the chief executive of Apmex.

Remember Trump has declared bankruptcy a total of 4 times now, although never personally… it’s never personal. And I’m sure that’s what the tenant is telling Mr. Trump too….

Here’s gold since Trump took payment…

More on Gold’s Pullback, courtesy of Barry Ritholtz.

Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.

iheartWallStreet.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com and affiliated sites.

One thought on “Trump: I Heart Gold

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.