New Kitco DEM Page Lets Rumors About Germany Abandoning the Euro Fly

Wednesday, May 12, 2010

A web page of precious metals prices provider Kitco.com has sparked rumors that Germany will leave the Eurozone and reintroduce German Marks, sending gold to a new record of $1,244 and silver to a multi-year high of $19.64.
It is this half-ready page shown below that has created excitement as it lists precious metals in Deutschmark units.

German website Silber.de had another market-sparkling comment from a forum participant who said goldprice.org has reintroduced a DEM option since about a week. Check it out here.
And there is still more material feeding the rumour. German leftist politician Gregor Gysi announced on TV that there may be an important announcement
to be made on Friday. The video below is in German.



In a literal translation  Gysi did not say that Germany will reintroduce the Mark but made a curiosity-inspiring statement, saying that there may be some very important news that will be announced on Friday.
The hottest trail can be found at website godlikeproductions.com. A poster claiming to be an employee of Deutsche Bank wrote that the bank received a container full with new German Marks banknotes and coins. He wrote he will publish a picture of the new Marks on Thursday morning. He also said the currency change would happen this weekend with German chancellor Angela Merkel scheduled to give a speech to the nation on Friday evening.
As we see the rapid destruction of the next fiat currency - all of them have failed in the past 3 centuries - rocketing precious metals prices prove once more there is no other safe haven when the going gets really tough.
DISCLOSURE: Long gold, silver bullion.

6 comments

Anonymous said...

Guys, you know that this kitco site is the "old" page prior the EUR introduction?! This can be simply verified by using webarchive.org:

http://web.archive.org/web/*/http://www.kitco.com/market/dm_charts.html

It's unbelievable that such a fake now even shows up for example at zerohedge.com... :-(

12 May, 2010 19:32
Anonymous said...

http://www.kitco.com/market/bp_charts.html

Yeah, amazing it doesn't show up here.

12 May, 2010 20:13
Troy Ounce said...

Well Done, Prudent Investor!

12 May, 2010 21:48
Anonymous said...

You do realize that Gysi and his party are NOT ruling Germany, do you?
Him announcing that Germany will be returning to the DM would be like me announcing that the U.S. will be transformed into a monarchy with me as King. And just FYI there is no way in hell that Germany is returning to the DM in the next 20 years, so give it up already.

13 May, 2010 09:46
Mr. Kowalski said...

If the Euro collapses, the only thing that will return to Europe will be the Dark Ages.

http://themeanoldinvestor.blogspot.com/2009/11/sum-of-all-fears.html

20 May, 2010 01:30
c said...

The world is falling apart:

http://www.youtube.com/watch?v=cppY-n1i79w

28 May, 2010 15:13

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