Erste Bank - Sixth Annual ‘In Gold We Trust’
Our good freind Ronald-Peter Stöferle, CMT, CFTe, of Erste Group Bank AG in Vienna has released Erste Bank’s sixth annual very comprehensive research report on gold entitled “In Gold We Trust.” The entire 120-page report is available in PDF format via a link at the end of this notice.
The study is covering the following topics:
· Central bank’s monetary inflation supports progressive remonetisation of gold
· Inflation ≠ rising prices: confusing terminology with grave consequences
· The chronology of a hyperinflation – Explanation based on Peter Bernholz’ “Monetary Regimes and Inflation”
· Gold in an environment of a deflationary loss of confidence
· The biggest misconception with regard to gold
· High stock-to-flow ratio is the most important characteristic of gold
· The advantages of a gold standard
· Financial repression: the alleged magic formula
· Why gold remains (dirt) cheap in India and China
· Excursus on Interventionism - It is a fine line between manipulation and intervention
· On the search for a “fair value” for Gold
· Possible price targets for gold
· Why gold is (still) no bubble
· Gold improves portfolio characteristics The renaissance of gold in traditional finance
· Why is gold such a highly emotional topic? Cognitive dissonance and normalcy bias as possible explanation
· Challenges for the gold miners: Peak Gold and increasing resource nationalism
· Gold shares (still) with historically low valuations”
Our thanks to Ronni Stöferle and Erste Bank for sharing this important, very timely research.
The full report is at the link below.