Global Perspectives: February, 2017 Interview with Alex Stanczyk and special guest Ronald Stoeferle

*Quantitative Easing (money printing) does not seem to be working. The market knows that the Central Banks at some point will lose control of the situation.

*Recent as well as historic evidence shows that command economies do not work

*The most important price in the market, the interest rate is being manipulated by Central Banks and is the root cause of market volatility

*Low interest rate policy, to zero interest rate policy, to negative interest rate policy and its impact on gold

*The zero-interest rate trap is adding fragility to the global system

*Fatal long term consequences of zero interest rate policy for institutional investors and society itself

*Monetary inflation is working as a tax where some are benefitting to the detriment of others

*Central banks are still a long way from normalization. This has a strong effect on the fragility of the market.

*Natural systems mimic financial systems in many ways, and shows us that trying to control it is a fool’s errand

*What the Austrian School of economics is, and why it matters

*Inflation happens in three stages. Monetary inflation, then asset price inflation, then finally comes velocity of money and price inflation in the regular economy

*Three types of people observing the economy and where this is going to lead

*Bond market yields in the US relative to Eurozone

*Anti-fragility and which assets may thrive in an increasingly fragile market

*Why gold is one of the most liquid assets / currencies on earth

*The global debt situation will resolve in time. Which pathways can this take.

*Focusing on the big picture, and ignoring the daily noise