Matthew Piepenburg: We are in a Liquidity Crisis & Why Countries are Stockpiling Gold

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Matthew is a prominent voice in global finance. He began as a transactional attorney and launched his first hedge fund during the 1999–2001 NASDAQ bubble.

He later managed alternative investments for high-net-worth families as General Counsel, CIO, and Managing Director of family offices.

He is the author of the Amazon No#1 Release, Rigged to Fail, and is a graduate of Brown (BA), Harvard (MA) and the University of Michigan.

Today, he is a partner at VON GREYERZ.

“I’m confident that China has at least 10x more gold than the WGC says it does… I also think they have a lot more than the United States.”

In this fascinating conversation, we cover a wide range of topics, including the international monetary system, the trade war, liquidity risks, the sovereign debt crisis, BRICS, the gold market, and where it all may be heading.

Matthew pointed out that the petrodollar has been a vital engine of U.S. dollar demand, but it’s clearly weakening. While still in place, it’s being slowly eroded, with 20% of global oil now traded outside the dollar.

He emphasized that this shift isn’t temporary, it’s part of a larger, irreversible change. The international monetary system is evolving, and we are living through a historic turning point in global finance. I hope you enjoy the conversation.

A big thank you to Matthew for joining me.

Highlights

0:50 – What was the moment gold became more than just a trade?

8:19 – Was there a personal inflection point where the current system stopped making sense?

12:07 – With rising debt and monetary distortion, how does gold serve as an anchor in a system losing stability?

26:55 – Is gold a path back to discipline, or proof the system’s come undone?

33:09 – As U.S. Treasuries start acting like risk assets, could China and Japan be fueling the current volatility?

42:34 – When did you realize gold isn’t just an asset… but a threat to the central bank narrative?

47:47 – Is the suppression of gold’s narrative just as powerful as the suppression of its price?

52:32 – As gold rises and global trust fades, is it exposing the Fed as an unchecked fourth branch of government?

56:51 – If gold breaks the psychological ceiling central banks have tried to suppress, what does that mean for their credibility?

1:04:21 – What signals is the West missing as BRICS nations quietly build financial alternatives to the current system?

1:09:08 – What are Western policymakers missing about Project mBridge and the shift away from SWIFT?

1:13:47 – With 20% of oil already traded outside the dollar, why is there still so much denial… how could this reshape global demand for the U.S. dollar?

1:16:39 – Why has there been such persistent resistance to transparency around Fort Knox and the U.S. gold reserves?

1:21:19 – Do you think the public is about to witness an acceleration of the monetary and geopolitical breakdown we’ve been warning about?

1:25:24 – With gold gaining traction in Washington, could this administration use it to restore financial trust at home and abroad?

Sean Boyd: The Time is Now for Gold, The World is Drifting into Disorder

Dr. Ron Paul: Time to Audit Fort Knox and the Federal Reserve

Jaime Carrasco: Reset the Entire Financial Structure?

Former NATO Commander General Wesley Clark: The Global Competition for Resources is Accelerating

Pierre Lassonde: The Gold Price will Ultimately be Decided in the East

Judy Shelton: I Want the United States to Restore its Monetary Integrity with Gold

The Gold Telegraph