Ronnie Stoeferle (All Roads Lead To GOLD and BITCOIN!) – YouTube

November 18, 2020

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So if you’re interested in a very German and cheerful as it looks down the abyss, view of what the future global economy holds for us, and also might be interested in investing one of several funds one Ronnie Stoeferle has on offer!, listen to this little podcast. The most interesting is Stoeferle’s invocation of Ludwig von Mises’s idea of the “crack up boom.” Basically, this is when so much fiat currency is issued (in the form of paper or credit)that “the masses” lose confidence in the currency and begin, the same way they began recently somewhat irrationally to accumulate (ironically enough) toilet paper, to buy anything with their currency, whether they needed it or not. The idea is, I suppose, that you can see the very beginnings of this with what has been happening lately with gold and Bitcoin, both of which have enjoyed rather long and occasionally dramatic rallies. Of course, Stoeferle would say this, because he sells gold, Bitcoin and related assets.

Still, you can certainly imagine a “crack-up boom.” It sounds even more terrifying in German.