

'The Jig is Up' - Why is Gold Flying Out of the COMEX? Matthew Piepenburg
Mar 11, 2025
Matthew Piepenburg, an author and former hedge fund manager at Von Greyerz, delves into the shifting tides of the gold market. He discusses the surge of physical gold out of the COMEX, reflecting declining faith in the U.S. dollar. Piepenburg speculates on the potential revaluation of U.S. gold reserves and the implications of auditing Fort Knox. He also analyzes the economic challenges facing the U.S. and emphasizes the importance of secure gold ownership as a safeguard against instability.
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Shifting Global Power
- The world is moving away from US hegemony and the US dollar.
- Countries are repatriating gold and transacting outside the dollar.
Overvalued Markets
- Current markets are grossly overvalued by every metric, including momentum and unsustainable net income margins.
- A minimum of 50% market retracement is predicted via mean reversion.
Recession Reality
- The US economy is already in recession, indicated by various factors, including high small business bankruptcies and credit card delinquencies.
- The middle class, or working poor, feels this recession most acutely.