Dear readers,
what can savers do to protect their money from inflation?
Carolin Schulze Palstring heads the capital market analysis at the traditional Bankhaus Metzler in Frankfurt.
It was founded in 1674 and has seen some turbulent times.
In an interview with Christian Siedenbiedel, she talks about
real assets against the crisis, the hook of higher fixed-term deposit rates and the disadvantages of gold and Bitcoin
.
There are plenty of reasons to talk about these issues: inflation is almost 8 percent and the ECB is slow to react.
All classes of liquid investment products are down in real terms this year, with the exception of commodities.
It is therefore very difficult to preserve one's assets in such a situation, Palstring notes.
Interest on savings also remained unattractive in the long term.
She doesn't think much of high-interest and therefore risky bonds.
She only likes gold as a portfolio addition.
Metzler does not even consider bitcoin in asset management.
Her tip isn't real estate either, but stocks, despite everything - and Palstring has good arguments for it.
Carsten Knop
Editor.
Follow I follow
Is it worth talking to Vladimir Putin?
French President Emmanuel Macron has released the
transcript of a phone call
shortly before the invasion of Ukraine.
It shows how little the Kremlin chief was interested in peaceful solutions.
The call took place four days before the Russian attack.
What Vladimir Putin did not know:
Emmanuel Macron allowed French journalist Guy Lagache to record the entire conversation on his camera in his office in the Élysée
.
Shortly before the end of the French EU Council Presidency, the Élysée Palace released the recording.
"What you're saying casts doubt on your will to respect the Minsk Agreement.
(…) If you claim that you are dealing with an illegitimate and terrorist government,” said Macron.
"Listen to me carefully," Putin replied, visibly upset.
"Do you hear me?
I repeat, the separatists, as you call them, responded to the Ukrainian side's proposals, but they didn't respond." Then Putin complained that pressure should have been put on the Ukrainians from the start, "but that's it not happened".
Macron said: "But yes, I'll do everything I can to urge them, you know that!" To which Putin laconically replied: "But unfortunately that's not efficient.
” A little later the conversation ended like this: “In order not to hide anything from you, I want to play ice hockey now, I'll talk to you from a sports hall, where I'll start training.
I'll call my advisor first."
Four days after the talks, Russian troops invaded Ukraine.
Master craftsman Uwe Loth has been installing new heating systems for his customers for three decades.
He has never experienced such crazy times as he is now.
One thing is certain: without men like Uwe Loth, the politicians will certainly not be able to put their big plans into practice.
Loth is 56 years old and the owner of a heating and sanitary installation company with 25 employees in the small town of Vellmar near Kassel in North Hesse.
He's a veteran.
His two master craftsman's certificates from 1988 and 1989 hang on one of the few vertical walls in his office, which is dominated by the sloping roof. Actually, says Loth, he thought he had seen everything in his shop over the past 33 years.
He was taught better.
It's as if the whole of Germany suddenly wanted a new heating system at all costs
.
The industry is going haywire.
Marcus Theurer looked at the confusion between heat pumps and gas heating.
Best regards and thank you for your interest in our digital offers.
If you have specific questions about your F+ subscription, please write to me: c.knop@faz.de.
Yours sincerely, Carsten Knop
Publisher
Frankfurter Allgemeine Zeitung