Quote of the Week/Commentary:
In a poll in September Alternative for Germany (AfD) were found to be Germany's third most popular party…
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 its policies...
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.
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“By the time the frackers are done in other states, our water will be worth more than oil.” – Farid Khavari
This month we are covering many topics with Steve St. Angelo, revolving primarily around the energy question. We are fond of stating nothing happens without energy, and mankind is going to great efforts to extract carbon based energy. Where this will eventually take us cannot be determined at this time, but this month’s quote does give us pause since in many cases there has not been a balance between getting what we need versus protecting the source.
The markets will not be addressed specifically this month, as our view from last month has not changed. However, I must add that we interview Bo Polny for our Master Mind series and he thinks the bull market in silver and gold will start before the end of 2014. Our publication date will coincide with the Swiss Referendum and thus will only be addressed in the interview below. Depending upon the outcome we may put out an update for all TMR members. Later in this report several companies are updated for you our members.
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