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gem versions 

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RedCloth (4.2.3)
liquid (2.2.2)

content 

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*Instant* kropek is really good.

Here are some reasons why:

* It tastes great
* It's funny

textilize(content) 

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<p><strong>Instant</strong> kropek is really good.</p>
<p>Here are some reasons why:</p>
<ul>
  <li>It tastes great</li>
  <li>It&#8217;s funny</li>
</ul>

textilize(Liquid::Template.parse("{{content}}").render('content' => content, :filter => LiquidFilters)) 

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<strong>Instant</strong> kropek is really good.<br />
        <br />

        Here are some reasons why:<br />
        <br />
        * It tastes great<br />
        * It&#8217;s funny