Matt's Publications

Most investors, sensing a recession, are doing what most investors typically do in bad times: Make bad choices. Key among these bad choices is the traditional flight to long-dated US Treasuries as a...

Matthew Piepenburg / February 1, 2023

The slow but steady implosion of global bond markets is no longer a debate but fact. Knowing this, investors can better brace themselves for the policy and market reactions to come. Here, we once aga...

Matthew Piepenburg / January 18, 2023

When broken, debt-soaked “developed economies” suffering from years of fantasy money printing to “solve” fatally rising debt levels collide with history-blind and economically-ignorant policy makers,...

Matthew Piepenburg / January 4, 2023

History (whether on battle fields or sports fields) is riddled with tragi-comical examples of human blundering (and hubris) in the face of otherwise obvious and self-inflicted risk—you know: The final...

Matthew Piepenburg / December 21, 2022

It’s hard to imagine how we ever got to this obvious consequence of too much debt and too much artificial, centralized “capitalism.” Were policy makers sinister (i.e., intentionally creating a red ca...

Matthew Piepenburg / December 7, 2022

The media-ignored levels of open fraud and inflationary currency debasement which passes daily for monetary policy (namely monetizing trillions of sovereign debt with trillions of mouse-clicked Dollar...

Matthew Piepenburg / November 23, 2022

From polo to hockey—it’s a known fact that the best players think three moves ahead. Sadly, the same can’t be said of our financial elites… But as playing conditions deteriorate across the bond, sto...

Matthew Piepenburg / November 9, 2022

The yield on the 10Y UST is known by most investors to represent the real cost of capital/borrowing. In short, it is the most important yield in the world, as it prices the cost of the world’s reserv...

Matthew Piepenburg / November 4, 2022

Despite all the fake, real, twisted, straight or bent words, facts and policies emerging today, the West in general and the US in particular cannot escape the natural laws of debt nor the hard realiti...

Matthew Piepenburg / September 21, 2022

Powell’s so-called “war against inflation” will fail, but not before crushing everything from risk asset, precious metal and currency pricing to the USD. As importantly, Powell is accelerating global...

Matthew Piepenburg / September 6, 2022