Ronnie Stoeferle still trusts gold

Episode 123: Alasdair Macleod talks to Ronnie Stoeferle, author of the popular and comprehensive “In Gold We Trust” report, published by Erste Bank.

Ronnie notes that there is currently deflationary pressure within the market, but suggests this will be opposed and fought vigorously by central banks. This will bring about the end of the current downward price moves in precious metals and herald the next leg higher.

Ronnie then discusses the increase in demand for precious metals in Germany and Austria as a result of the Cyprus crisis, and the anti-cyclical worldwide reaction to the recent drop in the prices of gold and silver.

The conversation then moves onto monetary inflation and how this affects the economy. They speculate how this inflation may eventually push up consumer prices, resulting in 1970s-style stagflation.

This podcast was recorded on 11 May 2013.

Published by

FinanceAndEconomics

Alasdair started his career as a stockbroker in 1970 on the London Stock Exchange. In those days, trainees learned everything: from making the tea, to corporate finance, to evaluating and dealing in equities and bonds. They learned rapidly through experience about things as diverse as mining shares and general economics. It was excellent training, and within nine years Alasdair had risen to become senior partner of his firm. Subsequently, Alasdair held positions at director level in investment management, and worked as a mutual fund manager. He also worked at a bank in Guernsey as an executive director. For most of his 40 years in the finance industry, Alasdair has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man. Accordingly, his mission is to educate and inform the public in layman’s terms what governments do with money and how to protect themselves from the consequences.

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