Gold Switzerland, Released on 6/30/23

In this 20-minute MAMChat, Matterhorn Asset Management partners, Egon von Greyerz and Matthew Piepenburg, discus the current disconnect between increasingly dark macro clouds (debt, currency, and rates) and a seemingly oblivious stock market and falsely complacent café society. Egon opens with his own observations of this trend in the various and familiar cities of Europe, despite an ignored “summer of discontent” for the majority of middle-class families struggling to make ends meet. Piepenburg then addresses the empirical indicators of a looming and hard recession within the US as warned by everything from NY Fed data and PPI reports to tanking AirBnB numbers and luxury watch sales. In this backdrop of ignored storm clouds, rising debt levels and misleading summer charms, von Greyerz and Piepenburg address the inevitable fate and direction of the USD and its ramifications for gold pricing. Toward this end, a number of factors, both historical and current, easily explain the foreseeable fall of the USD and steady rise of gold. Finally, von Greyerz addresses the issue of a potential hit in the gold price during times of stock sell-offs in recessionary market declines. Placed in the context of history as well as current gold support, we learn that however the daily headlines turn, the conversation regarding gold as a wealth preservation asset is not only familiar, but confirms gold as constant throughout deteriorating cycles. In sum, the headlines may seem unique to our times, but the looming end-game (and currency destruction) is nothing new and of little surprise to the well-informed who think generations rather than months and days ahead.

Egon von Greyerz is founder and Managing Partner of Matterhorn Asset Management AG & GoldSwitzerland. Since the 1990s Egon von Greyerz has been actively involved with financial investment activities including mergers and acquisitions and asset allocation consultancy for private family funds. This led to the creation of Matterhorn Asset Management, an asset management company based on wealth preservation principles. MAM is part of the Aquila Group, Switzerland’s largest independent asset management group. Von Greyerz makes regular media appearances on CNBC, BBC, etc. and publishes articles on the world economy and wealth preservation.

Matthew Piepenburg began his finance career as a transactional attorney before launching his first hedge fund during the NASDAQ bubble of 1999-2001. Thereafter, he began investing his own and other HNW family funds into alternative investment vehicles while operating as a General Counsel, CIO and later Managing Director of a single and multi-family office. Matthew worked closely as well with Morgan Stanley’s hedge fund platform in building a multi-strat/multi-manager fund to better manage risk in a market backdrop of extreme central bank intervention/support. The conviction that precious metals provides the best protection against potential systemic risk led Matt to join Matterhorn Asset Management.

  banking, gold, investing, Matthew Piepenburg