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.

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