What Bitcoin Did The Fed Pivot, Bitcoin vs Gold & The Return Of QE | Lawrence Lepard
39 snips
Jan 22, 2026 
Lawrence Lepard, an investment manager and author of The Big Print, discusses the Federal Reserve's anticipated pivot back to money printing amid structurally embedded inflation. He argues that both gold and Bitcoin are crucial responses to monetary decay, predicting Bitcoin's dramatic rise as debasement accelerates. The conversation dives into yield curve control, the shifting dynamics of national reserves, and the intricate relationship between physical demand and the paper markets. Lepard warns of political pressures on the Fed and the implications for individual custody of assets.
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Fed Has Already Pivoted To Printing
- Lawrence Lepard argues the Fed has already pivoted back to money printing and will expand further.
- He says printing is mathematically required to service growing debt or risk systemic collapse.
Precious Metals And Japan Signal Stress
- Gold, silver, and Japanese 10-year moves act as early warning signals of monetary stress.
- Lepard reads these as clues that the system needs more liquidity and will force more printing.
Yield Curve Control Is The Likely Next Step
- If U.S. 10-year yields break higher, Lepard expects yield curve control and big Fed balance sheet expansion.
- He views yield curve control as buying bonds with newly printed money, driving further debasement.
