Trump Says He’s Selling Gold Cards To Wealthy Foreigners (Uncut) 02-26-2025

Trump Says He’s Selling Gold Cards To Wealthy Foreigners

Today’s interesting story, Donald Trump starts a gold visa concept for economic citizenship, killing hopefully two birds, maybe three birds with one stone. The second topic today is economic uncertainty starts to grow, and today’s post-close announcement of earnings by Nvidia will be key for the next leg of this market. Finally, and more to everyone’s heart, I think, who watches this, gold sell-off yesterday was pretty rough, but it bounced at the level it’s supposed to bounce, and this market is still very structurally sound, and it doesn’t look like we’re going to have any major problems anytime soon.

Welcome to the Morning Markets and Metals with Vince Lancey, where each morning Vince brings you the financial and precious metals news to get you ready for your day. And now, here’s Vince. Good morning, everyone, I’m Vince Lancey, this is the Goldfix Market Rundown.

We will be talking about Trump’s proposed announcement selling gold cards. We’ll get into what that is in a second. We’ll also be discussing, I think quickly we need to discuss the economic situation.

Today’s an important day for the whole stock market, Nvidia’s earnings are out, and we also need to discuss the economic picture and how things are going economically, recession, inflation, stagflation, that type of stuff. Before we do that, however, let’s look at the markets. The 10-year yields are 429.8, unchanged, the Dixie, the dollar is 106.65, up 36, the S&P 500 is 59.80, up 16 and change, VIX is 18.96, down 45, gold 29.14, down about a quarter of a dollar, was a little bit stronger, most of them a little bit weaker, we’ll come to that.

Silver 31.70, down four, copper 4.60, surprisingly strong yesterday, down two today, WTI 69 and change, down 32, natural gas 4.20, down six, Bitcoin 87.800, might be broken for now, down 6.64, palladium 9.39, up nine and change, platinum 9.75, up four and change, that’s a massive widening. Gold, silver 91, so 91 and change. Grains, soy 10.29, corn 4.79, wheat 5.85, down five, unchanged offer, down three, and not on your screen is pistachios, unchanged, possibly limit up if there’s peace in the Middle East.

And there’s my notes, you’re not supposed to see those, you’re not supposed to see those either. All right, here we go. First page, homepage, Mar-a-Lago Corp will change money forever, that’s our opinion.

We think they’re cutting a deal, there’s more evidence of that today. Could Basentia sell the gold? Yes, he could, will he? Almost definitely not. And watch Trump announce his sale of gold cards, we will show a clip of that in a minute.

It happened last night, you’re probably going to hear it first here if we are doing our job right. So here’s the story, Trump wants to sell gold cards. President Trump said he will begin a program to sell Trump gold cards for US dollar, $5 million each, for foreigners who want to come to the US and create jobs with the sale of gold cards to start in about two weeks.

Now before we throw a little bit of meat on the bone of that, let’s show the clip to that effect. All right, here we go. We’re going to be doing something else that’s going to be very, very good.

We’re going to be selling a gold card. You have a green card, this is a gold card. We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges plus.

It’s going to be a route to citizenship and wealthy people will be coming into our country by buying this card. They’ll be wealthy and they’ll be successful and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it’s going to be extremely successful and never been done before anything like this.

But it’s something that we’re going to be putting out over the next, would you say two weeks out? Do you want to say a couple of words about? Sure. Mr. President, are there requirements for that gold card? Do you have to invest a certain amount of money in this country in order to qualify for that gold card? Yeah, exactly. So the EB-5 program was really, you lend some money, but it was all, it was full of nonsense, make believe and fraud.

And it was a way to get a green card that was low priced. So the president said, rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card, which is really a green card gold.

So they’ll be able to pay $5 million to the US government. To go through vetting, of course, we’re going to make sure they’re wonderful, world-class global citizens. They can come to America.

The president can give them a green card and they can invest in America. And we can use that money to reduce our deficit. Why do we give out lotteries of green cards? Why do we give out EB-5 for green cards? President United States understands that the right answer is why don’t we eliminate the deficit of the United States of America instead? The gold card, the gold card, well, millions, but the gold card will bring in with it people that create jobs, very high level people.

I think companies will pay to get people in. For instance, you today graduate from the Wharton School of Finance or Harvard or Stanford or any college. And nobody knows if you can even go to work for a company.

So Apple and all these companies that want to get people to be working for them will be able to buy a card. And for the people that are number one in their class at top schools, I see that as one of the things. But generally speaking, it’ll be people with money and people that create jobs.

And they won’t have to pay any tax on income outside of the United States, which they’re not paying right now. They’re not citizens. But they’ll have to pay if they create jobs in the United States, they’ll pay full taxes like everybody else.

So there’s a clip. We have the whole EO or executive signing, declaring that in the story right here, putting a little bit of meat on this. Trump announced a new immigration initiative, OK, calling it a gold card.

It’s a $5 million residency permit for wealthy foreign nationals. The program grants green card privileges, essentially work authorization and a pathway to citizenship. It is intended to replace EB-5 visa programs and streamline high net worth immigration.

Now, I have some familiar with this. A couple of people worked for me and one of them I helped get a green card for. And just as an aside, very successful, very talented guy.

He said he had no interest in becoming a citizen. I said, oh, you’re going to be a citizen next, right? He’s like, nope. I’m like, why? He goes, because I don’t have to pay taxes.

So understand that people who get green cards don’t necessarily want to become citizens unless if they’re here for economic reasons only. And in order to do that, well, they might be incentivized because they don’t really want to pay U.S. taxes. Citizenship has more taxes.

So these are going to be individual deals. These are going to be very similar to real estate deals. I want you to build your factory in my city.

And you give them a gold card. You work something out. It’s a deal, right? It’s a deal.

It’s what he does, right? I want a sports team to move to my city. Well, you give them incentives. You pay me $5, $5 million.

I will let you come here for $5 million. I’ll give you tax subsidies, et cetera, et cetera. But back on the script here.

We’re going to put a price of about $5 million on it, is what Trump said. And it’s going to give you a green card privileges plus a route to citizenship. Wealthy people will buy this card, spend money, pay taxes, and create jobs.

Now, this is all true. The administration views it as a way to reduce the national deficit while shaping immigration policy to prioritize financial investment over employment or skills-based pathways. Simply put, instead of bringing in people that are getting $5 an hour, right, to solve the labor problem from a Democrat point of view, let’s bring in leaders at $5 million an hour.

And provided that they create jobs and help us entrepreneurially, we will honor the deal. Other countries have this. Gold visas, economic visas.

I’m familiar with one in the Caribbean. It’s an economic visa. $350,000 could buy you economic citizenship, et cetera, et cetera.

So if you want to look at this from a purely American point of view, as affluent, wealthy boomers, right, that generation retire, I mean super wealthy people like Tim Cook, right? If you have the money and you have access to medical, you could give up citizenship and leave, right? You could just leave the country. So there is a trend towards a little bit of an Atlas shrugging thing going on after the Biden administration. And this is kind of a way to stem that as well.

I think it’s overall, it’s a good plan. Execution matters, right? That’s it. Moving on.

We did that already. That’s a story. All right, news and analysis.

Special message to Tucker Carlson Topp. That’s a humorous shout out to the gold seller. If yesterday will come to that.

Shanghai Gold Exchange, that’s news. Cancellation of membership of Shenzhen Gold Company. I’m not sure how important they are, but it could have something to do with what’s going on right now.

Founders must read, must listen. We’re going to share this with Premium in a couple of days. Goldman Sachs put out a report yesterday.

For institutional investors. And it was a bullish statement about gold, but it was not bullish for yesterday. It was not a reason to buy yesterday.

It was not a reason to buy today. It’s basically a call that gold can go to potentially $3,500 by the end of the year. It’s a big money play.

OK, so we’ll write about that and talk about that in the coming days, probably this weekend. All right, let’s move to the economy. The market recap.

There are two things that are on our minds. One, signs of stagflation grow. OK, the Nasdaq and the S&P tumbled and the dollar slipped in the face of mounting economic uncertainties.

We’ll get into those in a second. Treasury yields also slipped following a dour consumer confidence report. Oil prices plunged on tariff worries and profit booking pushed gold prices to their lowest level in over a week.

All right, NVIDIA and concerned consumers. This is the focus for today if you’re watching this right now. NVIDIA’s earnings come out today.

Now, you may be tired of hearing about NVIDIA. You may be tired of hearing about AI. But just know that if you want to look at the US stock market as a pyramid or a Ponzi scheme, depending on how you look at it, NVIDIA is the point of the spear.

NVIDIA does bad. Everything does bad for legitimate and bubble reasons. If you’re not buying chips, if they’re not earning money on chips, well, then the chip economy is dropping.

Very important. And by that, I mean if NVIDIA drops, everything drops. And those earnings are today, right? NVIDIA is, in a sense, the market itself.

Failure here will be the first step in market leadership changing. This is about gold. One of the things Michael Hartnett said about a month ago was that when things start to roll over, you’ll be able to identify it by comparing AI to gold.

Now, he didn’t say gold stocks. I wish he did. But he said if AI stocks start to roll over relative to gold, meaning the spread comes in or one sells off and the other doesn’t on intraday types of behavior, that’ll be a sign that the whole economy is shifting from growth to tightening and stagflation.

So something to watch out for. NVIDIA is the anti-gold, so to speak, right? So if that happens, you’re going to have a little bit of a rollover. And that continues at the bottom.

Next, concerned consumers. Consumers grew. Yesterday was an important data day, more significant than I think people understand, many people understand.

Of course, we all do. Consumers grew more pessimistic about the economic outlook in February as worries grew about a slowing economy and rising inflation. The conference board reported Tuesday.

The board’s consumer confidence index, consumer confidence, we know this, right? Slipped to 98.3 for the month, down seven points and behind, below the Dow Jones forecast for one or two. That’s a big miss. This was the lowest reading since June 24 and the largest monthly drop since August 21.

Okay, and there’s a chart to that effect. Small businesses, consumer expectations. So here we go.

Small businesses became more uncertain. Here, I’ll make it a little bit bigger for you, hopefully. All right, isolate it.

Small businesses on the left, consumer expectations on the right. Small businesses, the uncertainty rose, right? That’s the green line. And consumer expectations on the right dropped.

All right, so we have a problem here. And although it’s not, you know, it’s not the end of the world yet, okay? It’s the beginning of stagflation. So there are fears out there.

Now, people will tell you, well, it’s just fierce, doesn’t mean anything. No, it means a lot. Because if this fear entrenches, then it can create a spiral to that effect.

And probably a well-deserved spiral because people start to realize that the economic emperor’s clothes are invisible, so to speak. So this is what stagflation fears look like. That continues at the bottom.

All right, GDP and PCE this week. Today is, what, Wednesday? Excuse me, new home sales. I think they’re going to uptick.

I’m not sure. I’m not sure. The data will be out by the time you see this.

So in premium, the day ahead, that’s what we’re referring to. I just want to tell you that one of our invisible sponsors provided this for us, okay? And it’s basically a business newspaper without the bullshit. It’s like the Wall Street Journal used to be.

Section A, section B, section C. If you’re older, you know what I’m talking about. If you’re looking for news that you can just go through and say, bottom line, right, with a little bit of depth that matters, this is it. Those of you at the institutional level probably are familiar with this from Refinitiv.

Refinitiv’s product is very similar to this. In fact, I almost feel like it’s a white label. Anyway, that aside, I’d like to check with the markets now, with what happened yesterday.

We had a big sell-off yesterday. We had a big bounce. We had a big sell-off.

And I want to give you some levels as well as a recap on my own trading. So here we go. This is the weekly.

So yesterday, gold had a steep sell-off, over $60 lower. Big bounce did not get to unchanged, okay? So the stock market and gold kind of mirrored each other in their behavior yesterday. And I’ll zoom into those levels in a second, but I want to start here.

This is the gold weekly chart. The eights and nines signify a market that’s overbought. The eights and nines signify that we will either go down or go sideways, unless we don’t.

That’s how technicals work. But no, the fact of the matter is, it’s a signal that there are people taking profits. That’s gold.

Gold on a daily basis, you will see that I have two levels marked off there. Now, this level is my disaster level, and I alluded to it in a joking way, 2788, I think I said, on Twitter. But this on a daily level is a very significant level, and I’ll tell you where it comes from.

It comes from two places. One is from my trading, and another is from a product called Polytrends, which I’m in the process of self-educating on. But look, here’s the market.

The market goes up through here. This line that I drew here, it’s important, right? So this is a new structure, right? Either the market is rolling over to drop, or it’s rolling over to go sideways and go higher, and kind of like a pause in effect. But I want to zoom in on this to give you an idea of what’s going on.

This high came in, right? The whole process, so you can see why I’m completely neutral now. The market on this day sold off, and I got short, right? And I had $15 in it. And then on this day, it started to bounce.

And I said, I’m okay as long as we stay below 2907, okay? And the market got to 2907 the next day, opened in this area, opened a little bit higher, actually. And I covered my shorts, right? I got long. And the market starts to rally.

And I’m like, okay, this is it. This is support because of the way this behaved. So you have it three times here.

It penetrated here, but couldn’t say it. It says, oh, this is support. This is where China’s buying, okay? And then the market sells off yesterday.

This is yesterday, right? Steep sell-off, doesn’t even get near it, okay? And well, it gets close enough to it, but not completely close enough to it. And then the market starts to rally. So here we are here.

I think that if this market’s going to go down further, it needs to work down now. So it’s tested it. It’s tested it.

And it may collapse underneath my line here, but I think it has to work its way down now. Am I bearish? No, I’m not bearish anymore. No, I’m flat.

I’m just completely out. Drawing on this to silver. Silver, well, silver is kind of doing the same thing.

And you’ll see that I have a line here. Same concept for me, but my line is here. Why is my line here? Because it goes back to this area.

But the point is, silver can come a lot lower. I can move this line up, right? I could do that. I can say, well, let’s do that and move it up to here.

And you know what I might do? I might do that. I might move it up to, hey, that’s not bad. That’s not a bad place.

Here, I’ll show you what I’m talking about. That’s not bad. There’s my gold line in silver, okay? That’s pretty good.

So as long as the market stays above that level, I’m constructive. If it doesn’t, then this structure is broken. This structure is broken.

And then we start to work this whole trading range bullshit again. All right, so there you have it. Yesterday was strange also because copper was strong.

And although I’m not sure why, that really kind of screwed me up. I thought copper was strong. Silver shouldn’t be hit so much.

But it might have to do with the tariffs that Trump is going to be announcing another protection, protective tariff because of copper dumping. So copper dumping into the US, he wants to protect copper. Nobody’s dumping silver into the US, you know? So if copper is being protected and it goes up, well, then maybe the price of silver should go up as well.

Anyway, note, we have plenty of copper. You put a tariff on it. We don’t have plenty of silver.

You don’t put a tariff on it. Nothing gets tariffed that we don’t have. If it’s tariffed, we have it, okay? So this is the whole implicit aspect of this.

All right, so back to recap. Today’s interesting story, Donald Trump starts a gold visa concept for economic citizenship, killing hopefully two birds, maybe three birds with one stone. The second topic today is economic uncertainty starts to grow.

And today’s post-close announcement of earnings by Nvidia will be key for the next leg of this market. Finally, and more to everyone’s heart, I think, who watches this, gold sell-off yesterday was pretty rough. But it bounced at the level it’s supposed to bounce.

And this market is still very structurally sound. And it doesn’t look like we’re going to have any major problems anytime soon. Famous last words.

All right, I’m Vince. Have a great day. Well, thanks for watching this morning’s Markets and Metals with Vince Lancey.

We sure appreciate you tuning in and starting your day with us here. Hope you enjoyed the show. We’ll see you again tomorrow.

Please note that this video is not intended as legal licensed financial trading advice and is to be used for informational purposes only. Please contact your financial advisor before making any decisions. And thanks for watching.