Journal
May 2026
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In Gold We Trust 2026 Special: Back to the Monetary Future
Good Morning Ladies and Gentlemen “If the state goes bankrupt, it is not, of course, the state that goes bankrupt, but its citizens.” attributed to: Carl Fürstenberg, German Banker (1850-1933) Ronnie, Mark, and their team titled the 2026 edition of In Gold We Trust “Back to the Monetary Future”. The title says it all. […]
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Back to the Monetary Future | In Gold We Trust report 2026
Back to the Monetary Future | In Gold We Trust report 2026 On May 20, 2026, this year’s In Gold We Trust report was presented at an international press conference broadcast live on the Internet, celebrating its 20th anniversary. The authors of the report are Ronald-Peter Stöferle and Mark J. Valek, fund managers at Liechtenstein-based […]
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Energy Transition as Economic Shock Absorber
Good Morning Ladies and Gentlemen “Countries moving away from oil and gas are shielding their economies against the kinds of price shocks that we’re seeing currently.” Dutch Climate Minister Stientje van Veldhoven Many thanks for all the generous feedback on my last “Stefan’s Weekly” and especially on my daughter Lucie’s second song. To me, the song […]
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The Decline of Rational Debate and The Return of the Shepherd Boy
Good Morning Ladies and Gentlemen “When disruptions are constant, labelling each one as unique starts to lose credibility and conceptual usefulness.” Tracy Alloway, Bloomberg I am consistently taken aback by the lack of respect for science in certain circles, where some voices subtly undermine it by dismissing expert judgment as cold and unfeeling, while […]
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Diverging Forces: China’s Growth and Higher Inflation in the U.S.
Good Morning Ladies and Gentlemen “The US is being ‘humiliated’ by Iranian leaders as President Donald Trump struggles to negotiate an end to the war.” Chancellor Friedrich Merz At times, I get the feeling that today’s so-called ‘free space for debate’ on social media is dominated by the commercial interests of a relatively small […]