Guest Post: The latest "In Gold We Trust" report from Incrementum AG

If you've been a precious metals investor for any period of time, then you are likely familiar with the great work of Ronni Stoeferle and Mark Valek of Incrementum AG. Their latest, excellent research report is embedded here.

The report begins with these two paragraphs and this chart:

We live in an age of advanced monetary surrealism. 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 securities. 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 displayed by many investors is for example reflected by record-low volatility in equities, which have acquired the nimbus of being without alternative, and is also highlighted by the minimal spreads on corporate and government bonds. Almost a decade of zero and negative interest rates has atomised any form of risk aversion.

I would imagine that this has piqued your interest enough to scroll through the report. If not, here another chart to whet your appetite:

Please take the time to read/review this terrific bit of analysis and research. Thanks again to Ronni and Mark for all their efforts and for their permission to post this report here at TFMR.

TF

 

In Gold We Trust 2017 Compact Version English.01 by Turd Ferguson on Scribd

11 Comments

OOOBuck's picture

That's an huge report

Guess I'll read it after saying "hi ya'll"   FIRST

RickshawETF's picture

Silver

Silver

el_duderino7885's picture

Trading the wash and rinse cycle

Been following this game for so long now and recently decided -  if you can't beat 'em, join 'em!! Fed up after multiple years watching profits come and go.

Limiting all my long term positions now and have had a fair bit of success trading silver using 5SIL.L recently. Anyone else decided on a similar strategy?

At least using these leveraged funds avoids the frustrations of the miners and guarantees leveraged movement when the metals move.

I'll be looking to sell my miners positions soon once we retest the $1300 level and look to buy back in later in the summer after the expected fall prior to the  late year rally as gold finally confirms its breakout from the long term downtrend on the monthly.

Hey we all know where the PM's are headed but in the mean time why not actually enjoy the wash and rinse cycle and make some money?? I may even try a short in silver once it hits $17.80.

Closing out my silver long soon and I personally look forward to the next rinse. F*** the banks, let's make some money out of their games.

indiana rod's picture

CFTC From Last Thread

Ted Butler said the new Director of Enforcement, James McDonald, must be an honest man. McDonald found an old complaint lying around and decided to enforce it. And------is requesting others to come forward. This could be the beginning of the end for our friendly bankers.

'Bill in Montgomery', who often comments on Seeking Alpha, thinks we may still have business as usual.

I remember the famous 5 year 'investigation,' The CFTC concluded that every thing was fine in Glocka Mora. But Bart (always needed a haircut) Chilton, Chairman Gensler and the Director of Enforcement, all resigned. Would they have thought that some day the truth would come out and they would have to answer for their misfeasance?

As an incurable optimist, I disagree with Bill's comment. It might be "different this time."

I'm even optimistic that America may start enforcing the law. Think of that!

infometron's picture

@Craig Re: scribd

Would it be possible to provide a tfmetalsreport link to that pdf file?

I prefer not to have to sign up for scribd to download it. Alternatively I very much prefer not to have to have a facebook or google account, and if I did, to have to divulge my password to either of those accounts to scribd in order to download it either.

My apologies for any bother. I want to keep my online subscribdtions to a minimum.

Turd Ferguson's picture

frankly, info...

MODERATOR

...I have no idea how to do that. Putting the pdf into scribd is the extent of my technical expertise.

Response to: @Craig Re: scribd
Dr. P. Metals's picture

PDF

if you have the file, put it up on your site somewhere (ftp, etc) then just give a link to it (just like to an image)

Turd Ferguson's picture

And good news!

MODERATOR

Ronni has promised to join us for an A2A in July!

Response to: PDF
Dr. P. Metals's picture

Yes

that works (lol) although I'm not sure that is the intended use of mailchimp cheeky

infometron's picture

@Craig

Got it! Thanks!! Much appreciated!!!

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