Source: Zero Hedge
“We live in an age of advanced monetary surrealism….” is how Incrementum’s Ronald-Peter Stoeferle and Mark J. Valek begin their latest epic tome on the precious metals market “In Gold We Trust.”
In Q1 2017 alone, the largest central banks created the equivalent of almost USD 1,000 bn. worth of central bank money ex nihilo. Naturally the fresh currency was not used to fund philanthropic projects but to purchase financial securities1. Although this ongoing liquidity supernova has temporarily created an uneasy calm in financial markets, we are strongly convinced that the real costs of this monetary madness will reveal themselves down the line.
We believe that the monetary tsunami created in the past years, consisting of a flood of central bank money and new debt, has created a dangerous illusion: the illusion of a carefree present at the expense of a fragile future. The frivolity…
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