Economy & Politics

The German Trumpists have learned nothing

Capital columnist Bernd Ziesemer
Personal-Financial.com columnist Bernd ZiesemerMartin Kress

On day two after the storm on the Capitol in Washington, in which four people were killed, the German fund manager and stock market prophet Max Otte came up with an astonishing realization: Donald Trump remained “extremely peaceful” during all these events and spread the word nothing but “lying about what he said”. In addition, the former professor, like his great role model, speaks of “massive electoral fraud” in the USA, as if 61 courts had not long since proven the opposite. The attempt to remove Trump from office in the next few days is a “coup” by American Silicon Valley corporations.

Similarly, Thorsten Polleit, “chief economist” of a Munich gold trading company with 159 employees and honorary professor at the University of Bayreuth: On the day of the riots, the Trump fan campaigned for right-wing Republicans, the confirmation of the American election winner and future President Joe Biden by the To prevent the establishment of a “special commission”. Vice-President Mike Pence’s declaration of compliance with the law, on the other hand, reads like a dictation by Trump opponent Nancy Pelosi.

Otte and Polleit have sworn, rather vocal supporters in the German stock market scene and in the right-wing corner of politics alike. Otte has 42,000 followers on Twitter, Polleit appears every week with interviews in financial media. Both of them mix commercial interests with crude ideological convictions. If we believe both of them, we are either faced with a “world system crash” (Otte) or “megalomaniac world elite rule” (Polleit). The latter sounds astonishingly like the “Jewish-Bolshevik world conspiracy” of bygone times.

One could lay the lack of silence on the German Trumpists, as on the right and left fool’s edge of politics in general, if both did not still find their way into reasonably serious financial media. Polleit romps there as a “gold expert”, for example, and is allowed to spread his theses about the imminent collapse of the euro system – in truth, of course, nothing more than an attempt to turn investors into customers of his gold trading company. Otte can still be found in the press with one or two quotes when you need someone who predicts a stock market crash.

As much as the German media have been working on Donald Trump for the last four years, some of them don’t care about the strange actions of the German Trumpists, who in almost all cases are also among AfD supporters. In his own words, Otte tries to create a “bracket” between the AfD and the right wing of the CDU / CSU. According to “Spiegel” research, Polleit was involved in setting up a gold trade to finance the right-wing extremist party. Actually, both should therefore be regarded as no longer capable of satisfactory in business circles. However, in Germany too, the images of the riots in Washington probably had to flood the TV screens so that our own Trumpists were finally sidelined.


Bernd Ziesemer is a capital columnist. The business journalist was editor-in-chief of the Handelsblatt from 2002 to 2010. He was then managing director of the corporate publishing division of the Hoffmann und Campe publishing house until 2014. Ziesemer’s column appears regularly on Personal-Financial.com. You can follow him on Twitter here.


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