Trump’s Ridiculous Gold Bar Transaction. Seriously, Don’t Try This At Home
Trump is a crazy man. He’s set to lease office space at his 40 Wall Street building to a company called Apmex. Instead of taking a $176,000 security deposit in cash like normal non-comb-over people would, Trump is taking 3 bars of gold for the deposit. Yes, he’s taking bars of gold instead of cash. What the what? Welcome to Willy Wonka’s Chocolate Factory.
Trump thinks the President isn’t doing anything to protect the value of the US dollar. He’s right, but that’s not the point. The point is that by taking the bars of gold instead of cash, Trump thinks that the gold will hold its value better than the US dollar, or $176,000.
But let’s be honest, what’s $176,000 worth to Trump anyway? Nothing, he probably spends $176,00 on hairspray and caps for his teeth in a year. This was a marketing stunt for him, and Apmex. Did I mention Apmex is a precious metals dealer? Talk about great free publicity.
It’s funny when Trump does ridiculous things like this, but not so funny when you or I do it, so don’t get any ideas.
When I hear people talk about gold now and they say it’s “the best investment because it always goes up,” it reminds me of how people use to talk about real estate, before it stopped going up. Everybody loves looking in the rear view mirror, except when you’re naked and walking away from the mirror.
Ninety-five percent of the people I know who are piling in to gold right now are doing it because of the run it’s had over the last 10 years. This is why I don’t listen to 95 percent of the people I know: they’re making their decision based on past information and have no clue about the future.
Do you have exposure to gold? If yes, how?