GOLD STANDS FAST AS GLOBAL CURRENCIES, LEADERSHIP & DEBT POLICIES FAIL

By Egon von Greyerz

Founder and Chairman

June 3, 2024

In this critically important conversation, VON GREYERZ principals, Egon von Greyerz and Matthew Piepenburg, join VRIC Media’s Jesse Day in an important and timely examination of gold’s role within an increasingly precarious global backdrop.

The conversation opens with a frank discussion about the slow demise of the USD in actual purchasing power rather than relative strength yardsticks. Von Greyerz reminds that all fiat monetary systems ultimately self-destruct, and the USD will be no exception as it suffers its final days of so-called “hegemony.” Timing such an end-game is far less important than ignoring (and preparing for) the obvious symptoms of the process unfolding in real time. For Piepenburg, the evidence of the USD’s endgame (net UST selling vs. net central bank gold buying) is literally all around us as the sins of mismanaged Western monetary and debt policies become harder and harder to ignore.

The fall of fiat money in general and the USD in particular is, of course, deeply tied to rising global debt levels, which are lead by the home of the world reserve currency and its embarrassing balance sheet. Von Greyerz warns of debt levels now reaching the exponential phase. Like Piepenburg, he argues that such debt levels (including derivative market distortions) can’t be monetised without further currency debasement and rising inflationary forces.

Unsustainable debt has an equally tight correlation to failing political systems. Von Greyerz and Piepenburg agree that politicians are instruments of their time, and that the current era is one characterised by weak statesmen more interested in retaining power than serving public interest with open accountability and transparency for their actions. The implications of mismanaged (and frankly immoral) leadership today will continue to take many centralising forms including what Piepenburg discusses as the sad inevitability CBDC.

The conversation on currencies, debt and increasingly failing and hence centralising political systems is nothing new, but rather a cyclical aspect of basic history, which Piepenburg and von Greyerz discuss with blunt clarity. The almost comical economic ignorance which characterises the vast majority of global leaders is discussed in objective detail.

Each of the foregoing threads point directly to the undeniably rising importance of physical gold and silver. Toward this end, Egon von Greyerz and Matthew Piepenburg employ simple math and clear historical lessons to conclude their consistent warning that measuring and preserving one’s wealth in paper currencies rather than grams or tonnes defies common sense and undeniable historical patterns.