| Ronald Stöferle interviewed Neils Christensen from Kitco NEWS and talked to him about this year’s In Gold We Trust Report. This time without football innuendo.
The Golden Decade
We are currently in a new bull market. Gold is at new all-time highs in most currencies. It is also rising in comparison to stocks and bonds. Mining stocks confirm this trend. We are in the second phase of the bull market, the phase in which the public participates. Ronald Stöferle also points out that bull markets are always more fun than bear markets.
Ronald Stöferle: The zero interest rate trap snaps shut!
Monetary normalization has failed. Within two months, the Federal Reserve had wrecked the efforts of the last 10 years. As Ronald Stöferle describes in his book “The Zero Interest Rate Trap”, the Federal Reserve began to expand its balance sheet again last year. Moreover, the efforts of quantitative tightening can almost be compared to a bad joke. The debt problem threatens to spiral out of control. It is also this situation that will drive the bull market in gold and commodities.
Ronald Stöferle reminds us what a high gold price means!
Neils Christensen presents the important question of what a world would look like where gold has a very high price. Ronald Stöferle explains that the current gold prices alone would be unthinkable for a person in the 1970s. The purpose of gold is to protect against inflation. Nobody in the 70s could have imagined paying $5 for a beer. A world where the price of gold is very high would simply represent an even higher price for beer.
More radical measures are only a matter of time!
The Covid-19 crisis has shown that while last year helicopter money and MMT represented strange dreams of university professors, today they have become a reality in many places. This goes hand in hand with much more coordinated cooperation between central banks and fiscal policy. Ronald Stöferle mentions that while helicopter money is not as effective at widening the gap between rich and poor as quantitative easing, for example, it has many other serious consequences. It is also these measures that make the predicted gold price of USD 4.800 at the end of the decade a very conservative estimate.
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Thanks a lot to Neils Christensen from Kitco NEWS! For further interesting videos on economics and the precious metals sector visit the following link:
https://www.youtube.com/channel/UC9ijza42jVR3T6b8bColgvg |
