If You Want To Bribe Trump, Bring Gold — Not Bitcoin
An interesting claim has stirred discussions in economic circles as economist and gold enthusiast, Peter Schiff, suggests that Apple might have secured tariff exemptions from President Donald Trump’s new semiconductor tariff policy through a gold-plated gesture.
“If the base is solid gold and weighs 20 pounds, it’s worth $1 million. That’s a small price to pay for tariff relief on semiconductors,” noted Schiff, the chief economist and global strategist at Europac.com. He added, “It also makes clear: if you want to bribe Trump, bring gold — not Bitcoin.”
These comments were made following an event where Apple CEO Tim Cook presented Trump with an engraved glass disc, elegantly set on a 24-karat gold base during a prominent Oval Office event on August 6. The gift was presented shortly before Trump announced Apple would commit an additional $100 billion to U.S. jobs and suppliers.
Trump commended Apple’s domestic investment as “historic,” detailing that the company is set to build the world’s largest smart glass production line in Kentucky. Cook mentioned that the glass featured in the gift sculpture was produced at a Corning facility in Harrodsburg, describing the gold-based piece as a “unique unit of one” crafted by a former U.S. Marine corporal now working at Apple.
While to many the presentation appeared ceremonial, Schiff interpreted the exchange with a different perspective. Known for his advocacy of gold over cryptocurrencies, Schiff seized this opportunity to assert that gold still holds significant value, particularly in political arenas.
During the same event, Trump revealed plans to impose a 100% tariff on imported computer chips, a move foreseen to increase the prices of electronics, cars, and appliances. However, companies that manufacture within the U.S. would receive exemptions from this tariff policy.
This particular gesture from Apple could be seen as a strategic move to maintain smooth operations and to mitigate the potential financial strains that could arise from the new tariff, by aligning more closely with the current administration’s policies and showcasing a commitment to domestic manufacturing and employment.
The intricate relationship between large corporations and government policies often maneuvers through such symbolic gifts and gestures, which, while may seem minuscule at first glance, hold deeper implications and benefits. Schiff’s interpretation serves as a reminder of the elasticity of politics and economics where historical values like gold continue to wield influence against the growing tide of digital currencies like Bitcoin.
As economic climates and technologies evolve, these interactions underscore the continuous dance between tradition and innovation, and the balancing act that corporations must perform to navigate through ever-changing landscapes of regulations and policies. It reflects not only on the value assigned to precious commodities but also on the strategic acumen required in corporate governance to thrive amid global economic shifts.
