THE VON GREYERZ PERSPECTIVE - vongreyerz.substack.com

In this explosive episode of King World News, legendary investor Egon von Greyerz returns to deliver a powerful warning: the global monetary system is collapsing, fiat currencies are racing toward zero, and gold is undergoing a historic permanent revaluation. Egon, founder of VON GREYERZ AG, explains why the Dow/Gold ratio is headed toward 1:1 or lower, how history is repeating itself, and why the world is entering the biggest wealth shift in history.Discover why central banks across the South and East are dumping U.S. dollars for physical gold, why institutional investors will soon flood the gold market, and why today's gold prices are still dirt cheap — even after a huge move higher. Egon also debunks the mainstream myth that gold is in a bubble and reveals why owning physical gold and silver is now more critical than ever.We cover:✅ The coming collapse of stock, bond, and property bubbles✅ How Basel III has changed gold’s role as a Tier 1 asset✅ Why the global debt bubble guarantees much higher gold prices✅ How to protect your wealth before physical gold becomes impossible to buy✅ Why internal civil unrest, not global war, is the biggest risk aheadDon't miss this essential conversation with one of the world's top experts in wealth preservation. Protect yourself and your family now — time is running out. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

Gold Peak 2025?2025 Isn’t 2011 - A very different gold market: We may or may not be at an intermediate top—but 2025 isn’t 2011, and the gold market knows it.There’s a lot of buzz—understandably—about whether we’ve just seen peak gold.With charts flashing déjà vu and analysts citing 2011 all over again, it’s tempting to lean on technicals and call for a repeat consolidation. But hold that thought. Because while the chart may rhyme, the world around it has changed completely. In this episode, I break down why comparing 2025 to 2011 misses the bigger picture—and why gold, in this new macro reality, may be playing by a very different set of rules. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

Matthew Piepenburg, a Partner at Von Greyerz AG, discusses the current liquidity crisis stemming from excessive debt, challenging the belief that we’re facing merely a political or inflationary issue. He reveals claims that China may hold significantly more gold than reported, emphasizing gold's resurgence as a trusted asset amid the declining dominance of the U.S. dollar. The conversation also touches on central banks’ roles in financial instability and the pressing need for transparency in national gold reserves, critiquing the current monetary system's distortions.

In this insightful video, Egon von Greyerz, founder of VON GREYERZ, answers the most frequently asked questions about owning physical gold. He explains how to choose a reputable gold dealer, how much gold to hold as part of a wealth preservation strategy, and why storing it in secure jurisdictions like Switzerland and Singapore is essential.True wealth preservation comes from owning fully segregated, serial-numbered physical gold stored outside the banking system in secure, stable jurisdictions.From understanding the risks of ETFs and gold funds, to navigating cross-border gold transport, to the pros and cons of mining stocks versus physical bars — this is a comprehensive guide for serious investors. Egon also emphasizes the importance of direct ownership with serial-numbered bars stored outside the banking system for true financial sovereignty.0:00 – What is a “Reputable Dealer”?* Must have at least 10 years in business.* Proven, experienced management — not necessarily from the gold industry, but with a solid professional background.* Undergoes financial and compliance audits by top-tier firms (e.g., KPMG, PwC).0:58 – Why is it Hard to Identify Reputable Dealers?* Many online dealers make bold claims.* Audits and regulatory oversight are essential ways to differentiate.1:50 – What Percentage of Gold Should You Own?* Recommends at least 50% of liquid assets in gold.* Gold has outperformed other asset classes over the past 25 years.* Ultimately, invest what you're comfortable with.2:22 – When Should You Sell Gold?* Only when governments run surpluses, stop printing money, and reduce debt — which is highly unlikely.* Gold should be held long-term, potentially for decades.3:00 – What’s the “Perfect Gold Solution”?* Three pillars:* Reputable, experienced company.* Safest vaults in top jurisdictions (Switzerland, Singapore).* Direct access to your gold — physically verifiable with serial numbers.3:40 – Should One Trust Sprott?* Sprott is reputable, with trustworthy figures like Eric Sprott and Rick Rule.* However, storing gold via funds/trusts doesn't give you direct access or personal control.* Storage at Canada’s Royal Mint is government-held — not ideal for wealth preservation.4:30 – Can You Buy Gold from a Local Bank?* Used to be common, especially in Switzerland.* Not anymore — banks rarely sell gold today and generally lack understanding of it.* Use specialized, reputable gold dealers instead.5:01 – Can You Cross Borders with Gold?* Rules vary by country.* EU threshold: ~€10,000 worth without declaration (subject to change).* Best practice: use insured, professional transport services — don’t carry it yourself.5:35 – What About the GLD ETF?* GLD and other ETFs are paper gold, not physical.* No ability to take delivery or verify the gold.* Potential rehypothecation risks (same gold lent multiple times).* Not ideal for wealth preservation.6:11 – What’s the Deal with Serial Numbers and Client Names?* Physical gold bars have serial numbers and are registered to the client's name.* Warehouse receipts list bar numbers, weights, and type — ensures ownership.* Paper gold doesn't offer this security or transparency.6:47 – Mining Stocks vs Physical Gold* Mining stocks are undervalued and may outperform gold short-term.* But they come with risks: political, financial, and market exposure.* Physical gold is safer for long-term wealth preservation — outside the financial system.THE BIGGEST PRIVATE GOLD VAULT IN THE WORLDThis video takes place inside the world’s largest private gold vault, where gold is stored for wealthy families, institutions, private banks, and even central banks. The vault is located deep within a mountain and is accessible only through multiple high-security zones. It is uniquely designed to withstand nuclear bombs, earthquakes, and gas attacks, making it the most secure facility of its kind in the world. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

Trump’s tariffs may have ignited today’s trade tensions, but the roots of instability run deeper—through rising debt, shrinking liquidity, and eroding trust in global systems. Where Rome once prospered through open trade across its vast empire, modern powers now weaponize commerce, echoing a dangerous shift from cooperation to confrontation. As safe havens disappear and unrest brews in the West, history offers a sobering mirror for what lies ahead.In this sobering and historically grounded conversation, Egon von Greyerz and Matthew Piepenburg of VON GREYERZ offer a clear-eyed view of a global financial system at the edge of collapse. Drawing on decades of experience in wealth preservation, banking, and macroeconomic analysis, they discuss why the current market chaos is not merely about politics or policy missteps—it’s the inevitable endgame of a debt-soaked era.From exploding deficits and the death of free trade to the illusion of central bank control and the rising importance of physical gold, Egon and Matthew explain why this moment marks the final act of a failed monetary experiment—and how investors can still preserve their wealth before confidence vanishes completely.Highlights from a Monetary Turning Point0:00 – 1:20Welcome & opening remarks by Egon. Reflection on 30 years in gold and seeing the current crisis as the inevitable end of a monetary era.1:21 – 3:10Discussion on gold's role as wealth preservation. The failure of fiat currencies and historical cycles repeating.3:11 – 5:15Trump's tariffs as a catalyst, not the cause. Markets were destined to fall—tariffs just popped the bubble.5:16 – 7:05Historical examples: Rome’s free trade vs. today’s trade wars. Egon criticizes erratic leadership and its economic consequences.7:06 – 10:00Matthew joins: The real issue is debt and liquidity, not tariffs. Traces recent crises (2019 repo, 2020 COVID, 2022 rates, 2023 bank failures) to credit and liquidity breakdowns.10:01 – 13:35Tariffs & trade war escalation—viewed as mutually assured destruction. Trump’s reshoring logic vs. China’s long-term strategy.13:36 – 17:00US debt at unsustainable levels. Central banks will have to monetize debt—inflation is the only outcome. Treasuries no longer a safe haven; gold performs better under stress.17:01 – 21:00Why gold won’t fall this time like it did in 2008. US debt explosion from $9T to $37T since then. Gold’s role now is very different.21:01 – 25:00Private equity, property, and bonds entering long-term bear markets. Liquidity crises coming. No broad safe havens left.25:01 – 28:00Gold remains underowned at <1% of global assets. Revaluation is coming. Silver will outperform gold short term, but gold is the core.28:01 – 32:00Discussion on a “reset” – Egon dismisses it as unrealistic and disorderly. The US likely lacks the gold to back any reset. Power shifting east (BRICS, China, Russia).32:01 – 36:00Societal instability and civil unrest ahead in the West. Governments, currencies, and trust will all erode. Most people are woefully unprepared.36:01 – 39:00Family offices and institutional investors are still in denial. They chase returns and ignore risk management and history.39:01 – 43:00A call to action: protect your assets now. Don’t wait for a pullback. This is the beginning of a secular, global breakdown.43:01 – 46:00Final thoughts: This is a historic shift. Preserve wealth, strengthen personal values, and prepare for a different world. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

As U.S. markets opened on April 7th, Dow futures plunged 1,000 points and the S&P 500 slid into bear territory—Matthew Piepenburg of VON GREYERZ didn't mince words: There is blood starting to flow in these streetsOn April 7th, U.S. markets plunged into chaos—Dow futures down 1,000 points, the S&P crashing into bear territory. Matthew Piepenburg of VON GREYERZ called it market mayhem, but warned it was no surprise. He points to a toxic cocktail of Trump’s tariff shock, Powell’s early rate-cut signals, and what he calls a “Pavlovian bubble” — an epic overvaluation fueled by stimulus promises. The true canary? Buffett’s massive cash pile, signaling:Smart money was already on the sidelines. With the U.S. facing a historic debt crisis and confidence in sovereign bonds eroding, Piepenburg argues the real haven now is precious metals. This isn’t just a pullback—it’s a mean reversion with teeth.Highlights00:00–00:12 – Markets Crash at OpenMarkets set to open sharply down; Dow futures -1000 points, S&P -3.9%, Nasdaq -4.8%. Major tech stocks in double-digit declines.00:12–00:34 – Major Tech SelloffApple -13%, Nvidia -14%, Meta -12%, Amazon -10%, Bank of America -17%. “Blood in the streets”—but not a surprise.00:42–00:58 – Fed Euphoria in 2024In January 2024, markets were bullish due to Fed signaling rate cuts. Markets rallied on expectations, not actual cuts.01:08–01:31 – Bearish Warnings IgnoredBy January 2025, Piepenburg predicted a bearish year. Buffett’s large cash positions were a major warning sign—not just market cap to GDP.01:36–01:56 – Trump’s Tariff ShockTrump’s sweeping tariffs are the current market trigger:* 10% baseline on all imports* 20% on EU* 34% on China (on top of existing 20%)01:57–02:06 – Market OverreactionTariffs aren’t surprising—they were telegraphed. Markets are reacting irrationally like it’s unexpected.02:12–02:31 – Reshoring StrategyTrump’s goal: reshoring U.S. manufacturing, not just trade war. Tariffs seen as economic sanctions to bring jobs back home.02:31–02:50 – Reversing OutsourcingAmerican companies like Apple and John Deere manufacture overseas for cheaper labor. Tariffs aim to reverse this outsourcing trend.03:04–03:14 – Bubble Meets NeedleShort-term pain expected. Markets were overvalued even without the tariffs—this was a bubble waiting for a needle.03:24–03:35 – Tech Margins PeakMargins of “Fabulous Seven” tech stocks have peaked. Once they decline, everything changes.03:46–04:13 – Tariffs & Debt ClashTariffs were poorly timed given U.S. debt levels. Tariffs should’ve followed debt reduction, not preceded it. This sequencing is dangerous.04:14–04:28 – From Debt to Bond CrisisDebt crisis → credit crisis → bond crisis. Global investors are looking for safety outside traditional bonds.04:30–04:50 – Gold as Safe HavenGold is a safe haven: not selling off like in 2008, now viewed as a tier-one asset and strategic reserve—not just a hedge.04:59–05:18 – Prepare for More PainFinal thoughts: This is just the beginning. Markets were overdue for mean reversion. Best to wait for deeper lows and preserve capital in precious metals, not Treasuries. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

This podcast on KingWorldNews.com is hosted by Eric King and features special guest Egon von Greyerz, founder of VON GREYERZ AG. In this powerful interview, Egon shares his insights on the global monetary system, the coming economic storm, and why physical gold remains the ultimate form of wealth preservation.00:00 – 00:22Eric King introduces Egon von Greyerz and highlights his long history of accurate macroeconomic predictions, especially on gold, currencies, and financial markets.00:23 – 01:21Discussion of Egon’s recent article, “2025 Will Be a Year of Shock in Global Markets.” Eric praises it as one of Egon’s best, covering topics from currencies to real estate to geopolitics.01:22 – 02:40Egon outlines his long-standing view that we are nearing the end of a major monetary era. He emphasizes that all fiat currencies throughout history eventually fail.02:41 – 04:17The decline of Western currencies since 1971 (end of the gold standard). Egon explains that governments can’t be honest due to political incentives, and warns that inequality will spark social unrest.04:18 – 05:37The coming collapse of the monetary system is a matter of when, not if. Central banks are essentially guaranteeing gold’s rise through endless money printing.05:38 – 07:15Focus shifts to Japan and the yen’s dramatic depreciation. Eric notes the BOJ's intervention and the possibility of a rapid crash if the yen breaks key technical levels.07:16 – 08:52Egon predicts that the yen could eventually go back to 250 or even 300 per dollar. But he stresses that all currencies are falling—what matters is owning gold, the only true benchmark.08:53 – 11:01Gold’s performance in multiple currencies is highlighted. Egon dismisses currency speculation, arguing gold outpaces all in real terms. Stocks, too, should be measured in gold.11:02 – 12:20Historical context: Egon compares current fiat collapse to the Roman denarius losing its silver content. The lesson is timeless—only real assets preserve wealth.12:21 – 13:36Eric compares Egon’s writing to the late Richard Russell’s legendary work, praising Egon’s consistency on debt and cycles. Egon warns there's no chance the U.S. reverses its debt path.13:37 – 16:00Discussion of Argentina’s Javier Milei as an example of radical reform—Egon admires it but believes it’s unsustainable politically. U.S. debt, liabilities, and derivatives are simply too large to unwind.16:01 – 18:25Egon foresees more money printing ahead, possibly under new digital currencies. He warns of a coming collapse and the president at that time—possibly Trump—will be blamed regardless of fault.18:26 – 20:152025 will bring accelerated financial chaos. Eric reflects on past crises; Egon agrees this will be far worse. Fear will paralyze many, but preparation is key.20:16 – 23:00Egon closes with reflections on life: focus on family, friends, nature, and the simple things that bring peace. In hard times, personal relationships matter more than wealth.23:01 – 26:29Gold as wealth insurance: Egon’s call to buy gold around $280 in the early 2000s has played out with a 10x return. He believes the bull market still has a decade to run.26:30 – EndEgon encourages listeners to own physical gold and silver, stored securely outside the banking system. He invites interested investors to visit vongreyerz.gold to learn more about Von Greyerz AG’s services. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

Matthew Piepenburg offers a sharp, unfiltered summary of the current global financial and societal landscape. From the abandonment of the gold standard to the unchecked expansion of central bank balance sheets, he outlines the systemic consequences we can no longer ignore. This is not a forecast—it’s a reality check.We left the gold standard behind a generation ago. What did we get in return?* A manipulated inflation narrative no one fully believes.* Central banks printing trillions with no accountability.* Asset bubbles where 90% of market wealth flows to the top 10%.* Historic debt levels and a society teetering on inequality.This isn’t doom and gloom—it’s the reality behind the headlines. The dollar isn’t dead, but its undisputed rule is. We’re not just entering a new era.We’re entering a multi-polar, dysfunctional, and uncertain world order.No hype. No conspiracy. Just facts. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

The world is being sold a dangerous myth: that a seamless energy transition is possible, that renewables are "cheap," and that net-zero policies can be implemented without sacrificing economic stability. But as the West chases ESG narratives, deindustrialization, and political optics, China and Russia are playing a far more strategic energy game—one grounded in physics, economics, and power.In this explosive conversation, Matthew Piepenburg and Doomberg break down the biggest energy lies being pushed today, why Europe’s self-inflicted crisis is accelerating its decline, and how Russia and China are using gold and hydrocarbons to reshape global finance and weaken the petrodollar.* Why is China ruthlessly expanding coal and nuclear while the West shuts down its own energy infrastructure?* How did sanctions on Russia actually backfire, pushing energy flows away from the West and into the Global South?* What role is gold playing in a growing de-dollarized energy market?* How has Western media blinded itself (and its audience) to energy realities that China and Russia fully understand?This is a must-listen for anyone who wants to understand the real forces shaping global power—beyond the headlines and political narratives. Buckle up.Summary1. Mainstream Media's Role in Energy Narratives* The discussion highlights how mainstream media, controlled by a few major corporations, shapes and distorts public discourse on energy.* The energy transition is often framed as an easy, consequence-free shift, ignoring the real economic and physical constraints.* The West's push for net-zero and renewables often ignores energy density, intermittency, and infrastructure costs, leading to a misguided policy direction.2. Energy as the Foundation of Wealth and Power* Doomberg explains how energy, not currency or debt, is the foundation of economic prosperity.* The more energy a country can "waste" (use efficiently), the higher its standard of living.* Debt, currency, and financial markets are ultimately derivatives of energy availability.3. China’s Pragmatic Energy Strategy vs. Western Ideology* Unlike the West, China prioritizes energy security over environmental rhetoric.* China continues to expand its coal use, refine oil, and invest in nuclear power, making itself an energy superpower.* The West’s self-imposed energy constraints (e.g., shutting down nuclear plants, banning fracking) benefit China and Russia.4. The Russia-Ukraine War and Its Energy Implications* The discussion frames the war as an energy and geopolitical conflict rather than a fight for democracy.* Western sanctions against Russia backfired, pushing Russian energy flows towards China and India while hurting Europe economically.* The destruction of Nord Stream pipelines effectively severed German-Russian energy ties, making Europe more dependent on U.S. LNG.5. Western Strategic Failures and the Rise of Alternative Media* Western governments and media have maintained a misleading narrative on energy, economics, and geopolitics.* Alternative media sources like Substack and Doomberg have gained popularity by providing fact-based analysis outside mainstream propaganda.* The U.S. and Europe’s policy failures, including energy mismanagement and a misguided Ukraine strategy, have accelerated global shifts towards multipolarity.Key Takeaways* The West is sacrificing economic and energy security for ideological narratives.* China and Russia are playing a long-term, pragmatic energy game, while the West is focused on optics and short-term political gains.* Sanctions on Russia have failed, strengthening alternative energy and currency alliances (e.g., Russia-China energy trade in yuan and gold).* The mainstream media’s portrayal of energy and climate issues is misleading and driven by political and corporate interests.* Europe’s deindustrialization and economic stagnation are direct consequences of its flawed energy policies.This conversation provides a deep dive into the intersection of energy, politics, and economics, challenging conventional Western narratives and highlighting the importance of strategic energy policy. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com

You take the total gold in the world ever mined; it’s about 17 trillion dollars, which is about 200,000 tons. I think this is so fascinating: the top 10 U.S. companies are valued at 18 trillion dollars.The total value of gold is 17 trillion, and the top 10 companies are worth 18 trillion. So, basically, 10 companies are valued at a higher price than all the gold ever mined in the world.That includes jewelry, which means that’s the only real money there is in the world. All the rest is paper money, and still, nobody in the West buys gold.Microsoft is valued at 3 trillion, and all the central bank gold held in the world is just over 3 trillion. It just doesn’t make sense, the value.This is why you and I believe that we are going to see a revaluation of gold not too far away. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit vongreyerz.substack.com