Central banks

The beginning of the end of the current monetary system started exactly 50 years ago. In the next few years the world will experience the end of the end of another failed experiment of unlimited debt creation and fake fiat money. Measured in collapsing paper money, gold and silver will reach unthinkable levels.

Ronnie Stoeferle and Egon von Greyerz question why, despite explosive money printing and obvious inflation, gold has not long since been quoted much, much higher. How long will it take for gold to reflect inflation and astronomical money creation and break through the long overdue price forecasts of well over USD 10,000 per ounce?

The true price of gold and silver will be the one that is displayed after the shift from paper to physical. The current price reflects precisely the preponderance of the financial market over the market for real assets. But for how long?

The latest WGC reports show that institutional allocation to gold will increase. What if there is more to it than just “higher demand, higher price”?

Gold is reflecting the devaluation of paper money, but so far it is not doing so. Use the opportunity, because it will live up to its role.

Marc Friedrich and financial expert Lawrence Lepard talk, among other things, about the monetary policy of the central banks, the rising inflation rate, precious metals, Bitcoin, the commodities super cycle and the price targets for gold and silver.

From a market perspective, there was one important lesson from both 1940s and 1970s periods: At times when investable assets yield less than inflation, owning tangible assets becomes imperative. Commodities were far-and-away the best performing asset class in both of those decades.

Time is now the monetary authorities’ enemy, in contrast to the other interventionist phases in which the inflation was under control. The longer these authorities delay acting, the further the rise in prices will spread. And the longer they wait, the more the risk of an urgent intervention to break this uncontrollable cycle increases. Gold remains the ultimate investment for covering this risk of a loss of control by the central banks in the very complicated task of managing the period to come.

Some of the brightest minds in finance, Grant Williams, Egon von Greyerz, and Ronnie Stoeferle discuss fiscal policy, the "crack-up boom," inflation, liquidity, and of course gold and silver in these highlights from a recent discussion.

The current high inflation could theoretically transform into hyperinflation, disinflation, stagflation, or deflation. What does each mean for gold?