Ronald Stoeferle: In Gold We Trust 2017

 Ronald Stoeferle joins us to discuss his free annual 160 page report called “In Gold we Trust” in which he maintains that gold and commodities are dirt cheap when compared to stocks; equities, bonds, and real estate are at or near their all time highs and the U.S. dollar is close to rolling over.

The comments above & below are edited ([ ]) and abridged (…) excerpts from an original post by Collin Kettle (PalisadeRadio.com)

• calls the printing of one trillion dollars by the biggest central banks in the first quarter of 2017 “advanced monetary surrealism” and
• says the complacency that we are seeing in markets will likely lead to a crisis that will make 2008 look like a kindergarten party.
• talks about how recessions are normal and healthy in markets, but this is something that governments and central banks now wish to avoid. Tax receipts are falling off a cliff, loan growth is sluggish, industry is slow, and interest rates are rising.
• thinks they are tightening into weakness.
• believes that at some point there will be talk of Fed rate reductions and discussion of another round of QE and that this is when gold will make the next leg up. In the near term he acknowledges that there could be some further downside but points out that gold is up when compared to most currencies of the world and
• discusses mining equities, makes some comparisons, and concludes that we are at a very attractive price level.

Further talking points in his audio include that:

• We are in the “Everything Bubble” with the exception of commodities.
• Inflation dynamics will drive gold higher, stagflation is currently occurring.
• Recession is coming, most economists are forecasting it.
• Geopolitical tensions are increasing, likely to have an effect on oil prices.
• Fed is discussing raising inflation targets to three or four percent.

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