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Prostituting Power at the Expense of the Many to Benefit the Few

By Matthew Piepenburg


In this brief yet refreshingly blunt discussion, VON GREYERZ partner, Matthew Piepenburg joins David Lin at the Vancouver Resource Investment Conference. From Canada, Piepenburg fleshes out the longer-term facts vs. the short-term inflation “debate” and the now mathematical inevitability of further USD debasement to “save” an objectively broken financial system.

The conversation opens with the media-ignored (and almost comical) denial of an economic hard-landing despite current market highs driven by forward-guided rate hikes. Piepenburg reduced the stock market to a Pavlovian dog which simply turns up or down on dovish or hawkish Fed policies. Free market capitalism is now entirely perverted.

Powell’s projected rate cuts, necessary to bail out private and sovereign bonds repricing in 2024, is a tailwind for over-valued stocks but is not a sign of economic strength. Instead, we are seeing centralized markets, Fed desperation and a further postponed debt reckoning. The end-game will be “mouse-clicked” trillions to monetize unwanted USTs, the net result of which, is naturally inflationary.

Piepenburg reminds that such an inflationary end-game is part of undeniable and historical debt patterns which are always blamed on “external” forces which then justify increased policy dishonesty, as well as political control and centralization. This sickening pattern, he says, is historically true “without exception” as policy makers “prostitute sound debt policies at the expense of the many for the benefit of the few.”

Of course, sacrificing the currency to extend and pretend otherwise broken risk asset markets and purchase votes in the near-term ruins Main Street purchasing power while creating social unrest–the political, social, cultural and financial evidence of which is literally everywhere we look.

Gold, by itself, can’t save the financial system from these abuses and mis-uses of power and political opportunists. Leaders and central bankers will continue to maintain power while perverting currencies and pointing the blame outside their bathroom mirrors. This, however, does not prevent sophisticated investors from protecting their own wealth against currency destruction by owning their own physical gold outside of a failed financial order and Fed-protected banking system.

About Matthew Piepenburg
Matt began his finance career as a transactional attorney before launching his first hedge fund during the NASDAQ bubble of 1999-2001 Thereafter, he began investing his own and other HNW family funds into alternative investment vehicles while operating as a General Counsel, CIO and later Managing Director of a single and multi-family office. Matthew worked closely as well with Morgan Stanley’s... More...

Matthew Piepenburg

Zurich, Switzerland
Phone: +41 44 213 62 45

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