Ronald-Peter Stöferle explains that with cryptocurrencies such as Bitcoin, a currency competition in the sense of Friedrich August von Hayek is now possible.
Category: Research
Currency Competition & Digital Money: How Current is Hayek’s Proposal?
In this article, Demelza Hays describes Hayek’s vision on state money monopoly and discusses whether cryptocurrencies could be regarded as an effective solution of Hayek’s private money competition proposal on overcoming the permanent abuse of the state money monopoly.
Demelza Hays: Researcher on the Cutting Edge of Cryptocurrencies
Our outstanding Researcher and Junior Fund Manager was featured in the latest Alumni Spotlight by the MUMA College of Business at the University of South Florida. Find the original article below:
In Gold we Trust Report 2018
Dear investors and friends,
We are delighted to send you the 12th edition of our annual “In Gold we Trust” report titled “Gold and the Turning of the Monetary Tides”. The report’s Leitmotif of the turning of the tide refers to three fundamental changes that are currently unfolding:
1) Change of the tide in monetary policy: the reversal from QE to QT will lead to a net decrease in central bank liquidity. This is the first big crash test for financial markets in a decade.
2) Change of the tide in the global monetary order: In 2008 central banks turned from net-sellers of gold to net-buyers. China, India, Russia and Turkey are the big official players these days. This is just one aspect of the big trend towards de-dollarization. Gold will play a major role in the multi-polar monetary order of the future.
3) Change of the tide in technology: Crypto currencies and the blockchain-technology have come to stay. Gold and cryptocurrencies are not foes, but friends. In fact, a collaborative approach would play to the strengths of both. The first gold-based cryptocurrencies are underway as we speak.
Further key topics and takeaways of the report:
- Quo Vadis, Aurum?
- Inflation vs. Deflation – The Big Showdown?
- Precious Metals Shares – More Than Silver Lining?
- China – the global economy’s Sword of Damocles?
- Exclusive interview with Luke Gromen: “The dollar appears to be in Zugzwang!”
- Exclusive interview with Dr. Richard Zundritsch, FA Hayek’s nephew: “Hayek would prefer gold to Bitcoin”
We would like to invite you to join us on our annual journey and hope that you will enjoy reading our 12th “In Gold we Trust” report as much as we enjoyed writing it. Have a great day and please do not hesitate to contact us, if you should have any questions!
Yours truly,
Ronald-Peter Stoeferle & Mark J. Valek
Incrementum AG