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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.
Author: Mac Slavo
Date: September 15th, 2011
Website:www.SHTFplan.com published
here
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