During the Annual Investment Conference InvestPRO in January this year, which was watched by more than 8,000 Bulgarians, the architect of the currency board in Bulgaria and adviser to five presidents - Prof. Steve Hanke, was a guest.

During the conversation, Prof. Hanke predicted how long we can expect high inflation and gave a lot of practical advice to Bulgarians on how we can protect ourselves from it.

Here are some of the main points and advice that Prof. Hanke shared with the Bulgarian audience:

• Inflation in Europe will be between 3 and 4% per year for at least the next 3 years (00:23:00)
• Despite higher US inflation (6% by 2025), Prof Hanke expects the dollar to continue to be stronger than the euro due to continued dollar purchases by European banks as part of the ECB's quantitative easing (00:32:00)
• According to Prof. Hanke, a Bulgarian can achieve good protection against devaluation of savings if he divides his savings equally between US dollars and euros ● Increasing regulations in Europe will be negative for long-term GDP growth in the Eurozone. His opinion on the "green deal" is that the current energy crisis is the result of the political incompetence of the bureaucrats in Brussels (00:38:00)
• Prof. Hanke also shared three of his arguments against the adoption of the euro (00:41:00). According to him, the introduction of the euro will remove Bulgaria's monetary sovereignty, will motivate politicians to more government spending by increasing foreign debt, and would be a long-term negative for dealing with corruption in Bulgaria (00:43:50)
• Investments in raw materials such as crude oil, gas, vanadium, lithium, and graphite would be a good opportunity for investor returns during inflation and transition to a green economy (01:03:00)
• According to Prof. Hanke, a property investment, even with a mortgage, would still be good insurance against inflation (01:05:00)
• "Cryptocurrencies and bitcoin are not insurance against inflation. They are speculation. Stay away from crypto casino” (00:49:00)
• "Also stay away from shares of US technology companies that are not yet profitable. Their value and price will decrease as interest rates rise" (01:09:00)
• "Gold will continue to rise in the long term." (01:12:00)
• Prof. Hanke did not fail to advise the new government not to increase Bulgaria's debt, to show strict fiscal discipline, and not to stifle the private sector in the country, competing with it through more government spending (01:13:00)
You can watch the entire interview of Prof. Steve Hanke for free on Facebook at the following link https://fb.watch/arPF6NLX5j/