Gold’s Climb amidst Wisdom’s Decline
The comments below are an edited and abridged synopsis of an article by Matthew Piepenberg
“As the latest headlines from the FTX implosion remind us yet again of a politicized and rigged market riddled with deception, gold’s climb becomes easier to foresee.”
Up for discussion: Modern policy—high office, low wisdom; pondering the philosophically Nobel amidst the administratively dishonest; infallible bankers or exceptional finger pointers; sustained levels of mediocrity; modern dystopia—high tech, low wisdom; patterns of fake genius; all piano, no music; self-service masquerading as virtue signaling; back to the markets—what FTX portends; BTC as a market indicator; BTC—local to systemic sickness; the bond market matters; hawk to dove—a brewing and golden tailwind; expanding deficits—more tailwinds for gold; defaulting bonds, tanking Treasuries, rising gold; and gold—repressed today, fairly priced tomorrow.
“The central banks are (and have been) intentionally suppressing paper gold in order to take more physical delivery today before they inevitably reprice gold higher tomorrow to recapitalize their horrific balance sheets.”
“This trend is easy to see simply because the rigged game played by the broken actors described above is as easy to predict as their lack of wisdom is easy to measure.”
“As Egon and I have often remarked, the central banks are unwittingly gold’s best friend, for the bankers’ lack of wisdom and abundance of self-interest in otherwise desperate times makes them easy to track.”
“Or stated more simply: As the system gets more corrupt (as it always does when backed against a debt wall and a moral vacuum), gold gets more loyal.”