Actionable insights straight to your inbox

Ronni Stöferle on Why Gold Still Matters

Ben Bernanke famously told Ron Paul that gold is a commodity, not money. So why do central banks still hold so much of it?

1 min Read
08.2.2018

By Jeff Deist

Jeff Deist is president of the Mises Institute, where he serves as a writer, public speaker, and advocate for property, markets, and civil society. He previously worked as a longtime advisor and chief of staff to Congressman Ron Paul, for whom he wrote hundreds of articles and speeches. In his years with Dr. Paul he worked with countless grassroots activists and organizations dedicated to reducing the size and scope of government. Jeff also spent many years as a tax attorney advising private equity clients on mergers & acquisitions.

Even many libertarians dismiss gold and precious metals as irrelevant in the global monetary system. Ben Bernanke famously told Ron Paul that gold is a commodity, not money. So why do central banks still hold so much of it, Ron asked? Good question.

Ronni Stöferle from Incrementum AG joins Jeff Deist to talk about everything related to gold: why it’s still money, how it might react to rising interest rates, why the IMF still worries about it, and why so much of it seems to be flowing from West to East. You won’t want to miss his analysis of why gold and precious metals are complementary assets with respect to cryptocurrencies, and his call for both camps to join forces and promote Hayek’s goal of denationalizing money.Link to Podcast