President Trump touted his new gold card—for wealthy foreigners who want U.S. resident status in exchange for $5 million. “It’s like a green card but better, more sophisticated,” he said. Trump played salesman-in-chief saying the new immigration program “goes on sale very,

The idea that wealthy foreigners can address a nation’s faltering economy is not new. Trump’s gold visas will themselves replace the current EB-5 immigrant investor visa, which offers permanent US residency in return for job-creating investments of at least US$1 million.