This page has been archived and commenting is disabled.
Germany’s Third Largest Political Party Sells €1.6 Million of Gold In Two Weeks
German Euro Sceptic Party Sells €1.6 Million of Gold Bullion In Two Weeks
Disillusionment with Europe's single currency continues to grow with the cracks beginning to show in it's heartland, Germany, where the third largest political party is now selling gold coins and bars to raise funds.
In a poll in September Alternative for Germany (AfD) were found to be Germany's third most popular party. The rise of the Alternative for Germany (AfD) party saw it receive 10.6% of the vote in Thuringia and 12.2% in Brandenburg on 14 September. Two weeks earlier it secured its first regional government seats in Saxony.
AfD are not anti-EU per se and have distanced themselves from other eurosceptic parties. They see a future for Germany in the EU and embrace common markets but wish to see the European Monetary Union (EMU) and the euro itself wound up and a return to the Deutschmark.
In the past two weeks, in a bid to gain as much state funding as possible they have entered the gold bullion market with quite a degree of success. In Germany, the federal government will match, up to a value of €5 million, any funds raised privately by a political party. In a bid to get the full allocation of state funding, AfD have started to sell gold bullion online.
In the two weeks since the scheme was announced they have sold gold coins and bars worth a sizable €1.6 million.
There has been strong, broad based demand for precious metals in Germany in recent weeks and months due to concerns about the Eurozone, the Euro, the conflict with Russia and global uncertainties.
AfD have managed to sell a large volume of bullion bars and coins despite being unable to undercut the well established bullion dealers with whom they have been competing. This indicates that their customers are motivated to buy gold from them specifically because they support the party and it's policies.
"I have always warned that we can not compete with the prices of the competition," federal executive of the party Konrad Adam told Spiegel newspaper. "People should not feel deceived by our offer."
The smash on silver and gold on Thursday and Friday of last week played into the AFD’s hands as it saw German people, both investors and savers, entering the market in droves to take advantage of the low prices.
Gold brokers across Germany described the manner in which demand for precious metals exploded last week as "a run." Many have seen a sharp increase in demand and found their inventories insufficient to meet demand according to Goldreporter.
Germans have become more knowledgeable vis-a-vis precious metals in the last few years and indeed have a cultural affinity for gold due to the hyperinflation and to Hitler’s banning of gold ownership.
The benefits of owning a tangible, divisible asset that cannot be printed at will by a government is strong in the folk memory. The lack of a response of the Merkel government following the scandal which arose when the Federal Reserve refused Germany's request to have it's sovereign gold repatriated has also motivated many Germans to take matters of wealth protection into their own hands.
They, like many people in the world today, are electing to become their own central bank.
The prudence and patience for which Germans are admired are worthy of emulation in these times. It is wise to do ones own research into owning precious metals and if one does take a position in gold - be sure to own coins and bars in segregated, allocated vaults in safe jurisdictions such as Switzerland.
Trust in one’s decision and your judgement and view the volatility of the market with equanimity.
The fragile global financial and monetary system is teetering on the edge of collapse and serious inflation and stagflation is likely on the cards.
In the event of a crisis, gold will be there to help protect you which may not necessarily be the case for paper money and digits on a computer screen.
Gold was gold at the dawn of time and will continue to be.
Get Breaking News and Updates on the Gold Market Here
»
- GoldCore's blog
- 14973 reads
- Printer-friendly version
- Send to friend
- advertisements -
If the are in on the glabal smack down of PMs ....They sell it ...get the matching funds ...Use the funds ..and rebuy gold later at a lower price....smart ?
Why don't that party use NY FED as custodian?
Goldcore is an idiot, and his long clients are total idiots.
1150$ gold anyone ?
are we supposed to think that because a great 1.6 million euros worth of gold has been in 2 weeks , that its going to affect gold prices ? thats we're going to have a massive rally ?
everytime Goldcore touted "there is a big or small physical gold buyer at 1900$ (1800$, 1700$, 1600$, 1500$, 1400$, 1300$) that was matched by a physical gold seller, and we know today who is well in the money on that trade.
come on, Gold will probably be someday well north of what it is today, but who knows for sure, maybe not after all. or maybe we need to see 900 or even 400$ before 9000$ or 40000$... if i had written the same change the numbers 900 and 400 by 1100 and 900, a few years ago when gold was 1900$, i would have been taken for a fool by the same people who will say Im a fool today...
@Chat - Valid arguement you are presenting but a follow up question(s).
1) how long did it take the Weimar Republic to finally go sour?
2) based on that timeframe, how long and how much could it take "IF" the EU/FED/BoJ/BoE print too much?
3) "IF" that happens, what is the ultimate outcome? Specifically, what does it mean for the paper markets/Paper currency's/ or economy's? What will be the new backing of any major currency?
4) do you think it is possible that the value of gold could actually DROP based on todays values but INCREASE in purchasing power?
I sincerely are looking forward to your thoughts/response.
Mikey
1) US is not Weimar, just not yet. Goldcore & co have been saying that since ZH exists in 2007, we're in 2014 and no sign of hyperinflation so far, especially in US.
2) Based on whats going in Japan, they've been stuck with zero rates for two decades. If Japan is a base case (im not saying it is), US can keep this QE and deficits way for at least another 15 years before it implodes. a lot of things can happen in between. Ill throw a stupid idea. a white swan. Nuclear Fusion energy is discovered, and we can produce much much more energy at a way lower lower cost. More than enough energy for the whole of humanity. A world of infinite resources. no more hunger. physicists can even change lead into gold for free ! everybody replaces marble top kitchens by gold top kitchens.
3) IF it prints too much, obviously an Argentinian scenario / Weimar scenario can happen with total loss of value in the currency and prices adding 5 zeros. But they're a lot of intermediary scenarios (example 20 years with 10% inflation ? just I'm throwing a number) in between. No one can tell for sure. The bottom line is government are bankrupt, theres too much nominal debt in the system relative to the goods produced and theres a need for adjustment. It can come from inflation, but also from default. government can also confiscate wealth by raising taxes all across the board. Note that would probably include gold sales, gold ownership, and gold resale (especially if gold rises and theres speculation on it, it would be a welcome source of revenues for a dying government)
gold could back a new currency but thats not 100% sure. it could be a basket of new currencies.
4) Note theres a scenario where Gold actually increases in price, in line with inflation. Say USD is debased, loses 99% against other currencies, so gold shoots up x100. The price of a loaf of bread goes x100 as well. the price of a house as well.
why buy gold instead of a house then ? there is a perverse scenario where gold is confiscated, where a gold resale is taxed 10% on the amount of the transaction plus 40% of any capital gain... you just gave away 50% of your money to the government when you resell, and that doesnt buy you more house or bread !!
The only REAL hedge to avoid a financial catastrophe in US is to go away from US. Everything else is not a true hedge.
If the US is f cked up, surely a lot of places in the world will be f*cked up as well. But like during WWI or WWII there would be some real safe havens somewhere.
But are you ready to leave friends, parents, or family to go in a place to escape ? Many people, right or wrong, cannot make this kind of choice.
If you are ready, then move there, or get ready to move there, try to open a bank account, transfer a significant part of your assets there.
If you think gold will save you financially, you are deluding yourself. You are also putting yourself in a negative mindset where you might be HOPING the world f cks up just to get your few coins going up in value. this is insane.
Disclaimer: I own gold, probably (x times) more than you do. but as a part of my net worth its very reasonable. (3-5%). just as an insurance.
With the US Fed....Holding Trillians of debt from the future of the USA backed by the American Peoples , a debt that future generations will have to pay back unless the USA defaults or gets the many Wars they want/need.
The necessity to keep Gold out of the Currency system is an all out Currency War. Since the FED is Private, the profits or advantage is theirs.
Holding Gold could change your LIFE, in the future. Much Like Insurance or it may give you an advantage IF/When the World tells the USA to stick the $US.
Times have changed......no longer does the Government work for the People. At least the Republicans may be in the Fight against the Fed.....Either way....The rich will not be Taxed.
I was resently at proaurum - one of the biggest private metal sellers in Germany. One of the sales employees had an intersting information. Almost every member of the Bundestag has an acount at this institution and they heavily buying gold ;-)
Only a fool owns gold. Germany knows.
The AfD party should be aware that the AGC of the IBRD has offered 1,000MT AU at a 50% discount to spot for buyers who are a member of the World Bank.
Source:
https://s3.amazonaws.com/khudes/ltokyoembassiesoutoftokyo.pdf
Background:
https://s3.amazonaws.com/khudes/mboard3.pdf
Quote from source:
"In the event this withdrawal request is not approved, Wolfgang Struck intends to enter into a sale and purchase contract with a member of the World Bank for physical delivery of 1,000 metric tonnes of gold bullion. The price for the gold bullion will be discounted at 50% from an agreed price depending on specific scenarios. Having agreed on the basic asset holder TVM-LSM-666 and the history of the deposit, buyer accepts Wolfgang Struck as seller and follows instructions where to allocate the proceeds in the country of depository bank. It is generally understood that the proceeds on both sides shall be used to initiate development in the Philippines, in Asia, and in other parts of the world.
The discounted sale is justified by the need to attract government interest, and realization that this would liberate the balance of deposits for the beneficiaries under the Global Debt Facility through demonstration of a satisfactory completion. The offer has been well received, and it is anticipated that the sale will be consummated unless the withdrawal request presented herein is honored by the Board."
For updates on this offer, follow Karen Hudes on Twitter. There is a lot happening.
If you believe Karen Hudes you shouldn't have to worry about buying gold, because she claims to have enough gold to back all the existing fiat currencies in their existing volumes at current gold prices.
@Global - I had never heard of her so did a quick search...found this on top!
http://www.interpretermag.com/karen-hudes-rts-whistleblower-who-believes-world-bank-controlled-by-second-species/
She is a very "colorul" individual and that is being kind in my mind!
Have a look about her view of the "others" that share Earth with Humans.....
She asserts 1.7 million tons of gold in the Global Debt Facility. The World Gold Council asserts 170,000 MT AU mined by all of humanity through out all of history. Whom to believe? Someone who (at great personal risk) had the integrity to point out corruption at the World Bank, or an organization owned by the Network of Global Corporate control? You decide.
The inner geek in me shudders with delight upon seeing a gold bar with a serial number that is a power of 2.
There are a number of factors that affect the gold price and that hardly anyone is aware of.
For example, 1) “cash” balances of wealthy individuals and companies (on a world-wide basis); 2) US Treasury securities (owned by foreign investors (individuals, banks, central banks, and by the Federal Reserve)), 3) Mortgage Backed Securities (owned by the FR) et cetera are all collateralized (or “backed”) by a piece of paper listed on the asset statement of the Fed as “gold certificate”, which is collateralized by another piece of paper possessed by the US Treasury and named, “gold and gold receivables”; which should tell you that part, most or none of the gold is held at Fort Knox – just as the gold Germans thot they owned has… just… disappeared. Ah, there is so much more to this story…
Wunderbahr!
Keep pushing them into gold; it's what's meant for savers. ;-)
Gold works best in the hands of the people. The state does not need to be in possession of a country's wealth.
All a central bank needs is enough on the asset side of the balance sheet to moderate the value of the currency in the Forex market.
Unless a currency printer tells the perennial fib that 'it is as good as gold' the balance sheet does not need to be expansive.
Allowing a central bank to declare the value of gold seems to be the wish of many goldbugs. It is the most ironic wish I can imagine...we don't trust the state, let's let them tell us what gold is worth...really?
I believe in the value of gold, with that said, if the dollar rallies as the best of the worst currencies, won't the gold price collapse. In the late 70,s early 80's when gold jumped, it was the dollar rally which collapsed the price. How would it be different this time? I'm not being a jerk I'm trying to learn from anyone that has an explanation
Ps I already own some
Some are predicting another leg down in the price of gold. It doesn't concern me much. I bought some awhile ago at a much lower price as a hedge against rampant central bank and political stupidity.
I still think it a very necessary hedge, so I keep it.
My true investments are in my own business efforts now, in which it is much harder for outsiders to screw up my returns.
Back then, the FED raised rates to stop the abandonment of the dollar. Today, the FED's doing the same thing just by ending QE. This is drawing money back in from overseas. The economy is so saturated by debt, nowadays, that they're having the same deflationary effect at a near zero interest rate (and a negative real interest rate). Gold is the anti-debt investment. At some point, when loans start collapsing, the FED will be forced to counterfeit more debt(dollars) to support it's band of merry thieves at the Too Big to Fail banks.
is that not what is currently happening?
usdx surged from 79 to over 87 now, gold dropped below 1200.
seems to me, deflationary collapse is already starting to happen, with gold, oil, housing all dropping, which will prompt the fed into QE4.
You lost me at "all a central bank needs." That premise is so hard for me to get my mind around. I prefer: All a central bank needs is to disappear.
Andrew Jackson...paging Andrew Jackson. President Jackson, please pick up the white courtesy phone.
It will eventually come down to 'do you have any, or don't you'
'Price' will not be such a big issue.
Article read pretty good till I got to the part where it said let somebody in Switzerland store it for you..
I'll be happy to store your/my gold for you. Just send me a check made out to "cash" from time to time.
Dup server temporarily unavailable would you like to resend
we got political hacks shillin gold too, they''re not selling "their" gold, they dont invest in gold they invest in elections and propaganda
sorry wrong thread
Hitler banned gold ownership? why, it's almost like he thought he was a dictator or something. who did he think he was, FDR? Huh. what a nerve.
Well Eva Braun was better looking than the tranny wookie.
and Eleanor, too. Woof.
ya vohl !!! das goot ya? das fantastisch !!!
but its still illegal to say sieg heil in gernamy... we will have to work on that
I knew that negative bank rate would be positive PM.