The Current Monetary System Is Based On a Lie

By Matthew Piepenburg

Partner

March 5, 2025

VON GREYERZ partner, Matthew Piepenburg, is pleased to share a lengthy but all-encompassing and deeply substantive conversation had in mid-December with GoldRepublic’s Alexej Jordanov.

In this patient deep dive, Piepenburg gives his blunt insights on the macroeconomic setting, carefully addressing all the core themes affecting our lives and finances, from global debt markets, geopolitical brinksmanship, the bubble danger in risk asset markets, and the growing tide of fiat money debasement to the rise of gold pricing/interest and the ever-evolving but ever-controversial “gold vs. BTC” saga.

For Piepenburg, each of the foregoing themes takes its direction from the ripple-effect consequences of a global marketplace quantifiably over its skis in historically unprecedented (and unconscionable) debt levels. The weight of such debt is now openly and equally unsustainable, as is the many-decade lie from policymakers that such debt figures could/can be sustained by, alas, more debt…

In short, the “jig is up,” and the lie that nations can monetize their debt with mouse-clicked “money” without destroying currencies, inflating asset bubbles (and wealth inequality) to a breaking point or pushing gold to all-time highs is becoming increasingly clear to citizens (and precious metal investors) around the world.

Again, this is a thorough and hence lengthy conversation, but well worth the time for those seeking to put global financial conditions into sober perspective.

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