The fed system has no future; the Keynesian kings are dead; long live the Keynesian kings; in peace
From Acting Man, by Claudio Grass
A Fragile System
Ronald Stoeferle, managing partner and investment manager at Incrementum AG, and probably best known to our readers as co-author of the “In Gold We Trust” report, the most widely read gold report in the world
Photo credit: Elke Mayr / WB
Claudio Grass, Global Gold: Ronald, it is a pleasure to have the opportunity to speak with you. We’ve known each other for a very long time, both on a personal and professional level. Because of our central banks, we find our economies today operating on artificial stimulus and negative interest rates. How would you summarize the consequences of this policy?
Mr. Stoeferle: I have always considered it impossible to create a “self-sustaining” economic expansion by means of the printing press. By so doing, central bankers only succeeded in suppressing symptoms, but the underlying structural problems that…
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