Political & Currency Chaos Colliding with Gold & Common Sense

By Egon von Greyerz

Founder and Chairman

February 10, 2023

In this engaging conversation with Darryl and Brian Panes of As Good As Gold Australia, Matterhorn Asset Management Principal, Matthew Piepenburg, discusses the manifold needles pointing at the global debt bubble with refreshing common sense and complimentary facts.

The discussion opens with US public debt limits, which have gone from under $1T in the Reagan era to over $32T today. Piepenburg explains why such debt levels are not only unsustainable, but ultimately addictive, toxic and fatal to markets and economies. As for predicting the end-game with any precision, this is a mug’s game given the counterfeit power of central banks, but the need for preparation is now crystal clear.

Darryl asks whether trust in the USD is at open risk and trending toward a loss of confidence. He specifically poses the question as to whether Putin has ironically become the most courageous voice in calling out the USD’s clay feet. Piepenburg addresses the backfiring policies and sanctions against Putin in detail and confirms that the net result has been the slow reduction the USD’s global hegemony as the BRICS and other nations turn slowly away from the petrodollar and other USD-denominated trade settlements.

Brian raises the historical issue of war and currency destruction. Piepenburg describes the fiat monetary expansion system as one of open fantasy masquerading as a miracle solution which ignores the candor and facts of math, history and, of course, inflation. Ultimately, common sense prevails. Regardless of individual understanding of the complexities of global finance, everyone feels the destruction of paper money in real time; this “feeling” eventually and historically leads to distrust in governments, currencies and social cohesion, which those in power fear. Political reactions to such fears have historically and consistently resulted in wars and increased centralized control over the average citizen, the evidence of which is increasing by the day.

The conversation turns to the increasingly apparent lack of real-world qualifications of the so-called “global elite” which Piepenburg calls out for their lack of accountability and honesty and the creation of dangerous wealth inequality.

Finally, of course, the conversation turns toward “true inflation,” precious metals in general and the silver direction in particular. Piepenburg addresses central bank precious metal accumulation, the pending chaos in paper money and the inevitable role both gold and silver play in these backdrops. As with the entire conversation, the direction and role of precious metals boils down to this: Common Sense.