What to Expect from Fed Pivot: Super QE & Major U.S. Dollar Debasement Coming - Matthew Piepenburg

(Part 1/2): Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Matthew Piepenburg, Partner at Matterhorn Asset Management, who says there are no good scenarios left for the U.S. economy no matter what the Federal Reserve does. Piepenburg sees the U.S. as already in a recession, describing the idea of a soft landing as “farcical.” Piepenburg breaks down what a hard landing in 2024 will look like and what it will mean for the economy, stocks, the Fed, the U.S. dollar, and gold. He also outlines key geopolitical risks for 2024, including the role of Saudi Arabia and the petrodollar. Stay tuned for Part 2!
Swan Bitcoin
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00:00 - Intro & Market Overview
01:37 - Recession & Economic Health Debate
04:43 - Dissecting Economic Indicators
12:37 - Equity Markets vs. Real Economy
16:23 - Debt, Currency, & Gold
21:24 - Global Monetary Shifts & Gold Pricing
26:53 - How Saudi Arabia Prices Oil & Why It Matters
37:50 - Bretton Woods 2.0
40:38 - 2024 Outlook
#Fed #economy #gold #oil #stocks #recession
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[@kitco]

Swan Bitcoin - Swan Private - Go beyond legacy finance 👉 www.swan.com/wealth

[@regularcustomer8285]

Hi kitco News ... Swans with dark shadows... grow up to be?

[@Jeff__M]

Mathew Piepenburg is a remarkable historian gentleman, who articulates his positions better than anyone on the Internet 🇺🇸 Love this guy!

[@jaydee5447]

This dude is fantastic. One of the better guests Kitco puts on.

[@regularcustomer8285]

Orca

[@Slimdawgc]

I'm a simple man. I see Piepenburg and Michelle, I click.

[@annettewest8739]

I am an American woman. 54 years old. I do not recognize this country anymore. For the first time in my life, I am ashamed of my government.

[@Alex-qm6ig]

I'm not American but I am also ashamed of the American government.

[@Scorch428]

@@Alex-qm6ig I'm not from Earth, but I am also ashamed of the American government.

[@sunpark9195]

im ashamed of most governments

[@mpconstructs6048]

​@@Scorch428😂😂😂😂

[@555frontier]

Who keeps electing these idiots..?

[@joshfrench6426]

I agree with everything he says. He's dead on and in tune with the reality for most

[@rogerburn5132]

AS ALWAYS MATTHEW IS ABSOLUTELY BRILLIANT BRING HIM AGAIN 👍👍👍👍

[@lancemairs4956]

I spend allot of time sourcing financial/political blogs and Mathew is my favorite guest-so clear and focused. Cuts through the butter!

[@regularcustomer8285]

Buy the book

[@wp4565775]

Kudos to Michelle for projecting she is a proud American!

[@user-ij9kw8vt5n]

East to West Michelle is the best 🎉

[@BlueWaterSTAX]

Thanks for having Mathew on the channel. He's a legendary analyst. Merry Christmas Michelle and Kitco🥈🏅🥈🏅🥈🏅

[@kitco]

Thanks for your message. Glad you enjoyed the interview. Happy holidays to you too!

[@requiem5179]

Matthew is a class act.

[@chrispadilla1582]

Always look forward to Matt. Might be the best interview on the channel. Incredible intelligence

[@alpha7B5]

This is probably the first time I have to thank Michelle for the debate and for her guest❗️👍🏻✌🏻 So, thank you, and thanks for such a great guest, too❗️👌🏻 I could listen to you two for hours. 😉 Anyway, looking forward for the next part❗️

[@user-hi9sm3wz2t]

Matthew does a great job of putting things in perspective. Thank you.

[@kitco]

Thanks for watching 🙌

[@James-il3tq]

Congrats to Matthew for finally investing in a new microphone 😃

[@laro802]

He sold his cat to get it.

[@555frontier]

I hope he didn’t have to sell half of his shares 😅

[@davidsalvatore6054]

He is the best guest kitco has ever had .

[@imconfused1237]

You have to remember, that there is ≈ a 9mth lag to the effect of rate hikes. The bite begins when neither consumers nor business is able to refinance their debt. The unavoidable consequence is default and thereafter, recession. The response play from the FED will then be to cut rates. However, by this point confidence has already evaporated and all markets will dive towards price discovery. They always do, every single time. It is never “different, this time”. It is very simple. There is too much fake money in the system. And it is those chocolate coins which are propping up index funds. Just watch how quickly the whole tower collapses when they start to melt. “Soft landing” - Yeah, sure bro.

[@PepeCoinMania]

They are preaching this crap for decades I don’t fall for that anymore

[@dedetudor.]

Chocolate coins😅 yes Willie Wonka time.

[@mrwarbucks9717]

Take a breather man

[@JorgeRodriguez-iq7vb]

Good to see you back Michelle.

[@optionout]

Wow. Listened THREE times. This is exactly how things are playing out, AND why.

[@d.cad1529]

Merry Christmas Michelle

[@dmr87]

Election year is all you need to know

[@nightrod2237]

Exactly correct friend , Dems will keep markets juiced until at least after the election . Market falls , Dems will lose . Rate pivot and money printing in the near future will continue the market moving north as Dems panic to stay in power . Stay invested .

[@user-vw8nh4dw2o]

Best speaker I've seen in a long time Confident and easy to understand. Thank you Kitco. **Seasons Greetings**

[@frankiesmart1113]

Merry Christmas Michelle!😊

[@kitco]

Same to you!

[@billfairhall7828]

I think this gentleman hit all the nails on the head. 👏👏👏👏👏👍👍

[@regularcustomer8285]

16 pennies and a chore starts here.

[@pasky7824]

Your guest was A++ excellent great interview all around 👍 👍

[@lynnybee888]

Merry Christmas to all @ KITCO and Michelle. The smartest lady in finance on the net. I watch every video and learn lots. 🌲🌲☃️🌲🌲

[@kitco]

Thanks for watching. Merry Christmas and Happy New Year to you.

[@haroldicks2576]

I look for Matt and listen to him eagerly.

[@KevinNguyen-yn9tc]

Thank you sir!

[@Ninurtha1]

Amazing analysis

[@Moonlit_Son]

The current stock market is behaving like a runaway train. Eventually it has to grind to a halt or crash. It makes zero sense that most Americans are living paycheck to paycheck but the economy is apparently "thriving".

[@frederickmuhlbauer9477]

The stock market rally is totally disconnected from the horrible economy Driven by inflation and expectations of FED rate cuts

[@istvanpraha]

The risk is that it can go from disconnected from connected at any time. Look at Nike or GIS or FMC when they start caring about earnings again

[@Vansmackable]

Great guest!

[@brandon_youtube]

Michelle did a heck of a job getting the Q&A back on track at the 30min mark 😅 Now I get the lookin the thumbnail

[@chewie1355]

Thank You

[@larslarsheim1741]

Great guest

[@trailguy]

love the break-down of currency exchange for oil and gold (26:00+) thanks.

[@Shane-yx2hi]

Bout time welcome back

[@veronicarogerscampbell9588]

Excellent thank you

[@user-hq9yl1gc2q]

Right! Great. Presentation!🎈

[@daverave5743]

End the Fed's power to set rates. Let the market do it.

[@sensenisok]

Thank God she's back ❤

[@wedgetailleather]

I would gladly hang out at Matthew’s table at the Christmas party. Way more interesting than any of the Christmas party conversations I’ve experienced before, for sure 😂

[@berhanegebriel3155]

I Agree Fully When He Said, "The Real America Is In Recession".

[@regularcustomer8285]

Big disgrace, somebody better put you back INTO YOUR PLACE.

[@user-se1mi3si9d]

4:55 Tennessee Fly Girl must have been piloting

[@lotfyken2759]

Shootout at the soulless lady trying to pump bitscam at the end 😂

[@regularcustomer8285]

Who's got the ammo?

[@charlesewillmore5252]

Great interview a lesson in finance !

[@acornsucks2111]

Larry Burkett talked about the debt and wrote a book called the Coming Economic Earthquake, but that was over 30 YEARS ago. He sounded very similar.

[@Jonnys00007]

need part 2 to see his answer !!!!

[@Tony-ft4jp]

Id Pick Michele over gold and bitcoin😊

[@TerryAShaw]

😂She is gold.

[@jaytan915]

Great perspective for the Western financial system. Merry Christmas

[@regularcustomer8285]

There's goes SUPERSTITION ( and only one letters about to fall.. )

[@justin-xo9wh]

Good, very important. Excelent happy 2024

[@ct00001]

Nearly everything on main street has doubled in price and stocks are booming. Fed believes it's now time to cut rates. Staggering.

[@polarroller]

I've been in the tourism business over 50 years. Tourism was way down for us small business folks in Alaska last summer.

[@frederickmuhlbauer9477]

Wonder why that is Maybe everyone is broke

[@regularcustomer8285]

( were all sitting on a Greyhound , passing a good vacation day for free.. ) The tour guides in downtown D. C.

[@tankimlai293]

Matthew the best.

[@Salted78]

Bravo!

[@regularcustomer8285]

The cast..

[@BatmanBoss]

Matt ❤

[@chadwickfairbanks]

Great job Michelle!! Thank you for letting Matt just riff. Piepenburg did a great job of crystalizing the market dynamics. If you could combine Matt Piepenburg, Bob Murphy, Peter Schiff, Brent Johnson, George Gammon, Grant Cardone, Brandon Dawson, and a few others, you could probably thread the needle and get rich AF in 2024. Great interview.

[@brucerobtoy2888]

I agree with almost everything Matthew says except that the Chinese are buying gold because they see the dollar is in trouble when in fact it is their own currency that they see is in big trouble.

[@jdon1807]

Matthew's best

[@regularcustomer8285]

When we all startout in trouble, .. platform souls , getting good grades.

[@walls10]

My Man! Shout out to Stevensville, MI...

[@mitch3454]

Is there a follow up video? Seems like it came to an abrupt ending and never discussed bitcoin

[@bbustin1747]

He doesn’t make any reference for cutting rates for the presidential election in November , that’s the short term goal for the FED

[@regularcustomer8285]

Bring up Richard Nixons advise...50 years ago. When he said, " when we manage someone, we pour into someone! "

[@JenX422]

Like elections are even real! The WEF installs who they want.. as Klaus Scwab said, " we have captured all western nation govts"

[@cjswa6473]

Look at the Venezuela stock market returns this Year. Up 164%>> but VZ.. horrible Economy

[@demri123]

Then u sell and get worthless paper lol😊

[@chompnormski]

Imagine trying to build a house using government measurements

[@HenrJensen]

Very talkative!

[@stonodo]

the interview ended before her could answer the question. Is there a part 2 to this?

[@regularcustomer8285]

Everybody needs someone like this, not Everybody is fortunate. 🐬

[@joycekoch5746]

Matthew Piepenburg was the one who told us that the fed would cut rates before Christmas 2022.

[@user-qm6xy6ie6r]

Need a tissue ?

[@gy4148]

Everybody talked about crash, recession for all 2023 and in the end new all time high. Full bullshits

[@regularcustomer8285]

In America, it's reindeer that do the towing.. , but in Australia, it's eight kangaroo .

[@chompnormski]

This is similar to 1929

[@goldismoney5899]

Mathew is great. Gold IS money. END THE FED.

[@regularcustomer8285]

Your halfway there... living on a preyer

[@user-ek4gv6bb3p]

Great interview! Time to interview John Burba of International Battery Metals. They are now deploying the first at scale direct lithium extraction unit DLE. It is a big deal.

[@EroticOnion23]

Michelle: "Loyalty to land and country, always. Loyalty to government, only when they deserve it."

[@regularcustomer8285]

Well, well, well, you never can tell. Well , well, well,.. 🐬 2

[@user-ru9nl5wr7i]

Matt! 👍🏽

[@grayarcana]

Market signals are noise: only supermarket shelves can signal the state of the American economy.

[@WheelerRickRambles]

S&P companies have earnings starting 2nd week of January….how in the heck are they going to report ‘rosie’ earnings & guidance?

[@nicholaslandolina]

I like this guy a lot

[@thaidude]

Cantillon Effect on display. Money printing ==> more inflation ==> even more inequality

[@DrRock2009]

Inevitable and inexorable 🤷‍♂️

[@willrose5424]

Sounds like a sales pitch. 😂 He needs to take a pause.

[@Myscentsei]

Zero reality. If there was any, silver wouldn't be half the price of 1980

[@randall6144]

Beautiful Michelle wow...

[@Ninurtha1]

Dollar is a derivative of Gold .

[@wimvanaerde6249]

Silver

[@123svx]

Good point. I keep raising it but nobody is listening

[@demri123]

Silver originally. In fact, the name "dollar" comes from Thaler, a silver coin from Europe. Gold came after

[@Kristofur77]

We already had QE, multiole stimulus checks, collge loan relief, rent n loan moratoriums, discount window open, lower rates, extra n extended unemployment, PPP, EIDL ,ERC, more child tax credits. Im probably forgetting some. Inflation bill that was passed.

[@georgeorwell3501]

You said it exactly. And the BTFP (the Feds latest tool to bail the banks out) Bank Term Funding Plan which is supposed to expire in March.

[@richardrodriguez-dj1xn]

When Costco and Wallmart are selling gold faster than pizzas, we're in a Depression.

[@JenX422]

It is only a hard landing for laborforce (mainstreet). There is never a landing at all of equities. This is n economy BASED ONLY on asset price inflation and distortion.. not on productivity. If you are under 65 and stuck in the workforce, you are getting poorer with every year you work now. And generations are being priced out of even homeownership.

[@fazdoll]

I know it's hard to wade through Matthew's tsunami of words, but he's sounding much more cynical and fed-up than I'm accustomed to hearing from him.

[@istvanpraha]

Many of us are sick of this economic cycle being dragged out for no reason, but causing so many bubbles, and then the media and fed constantly lying so you have to waste loads of time investigating the news like we are the journalists

[@demri123]

Were 8th or 9th inning in the collapse

[@Baptized-sc4fy]

I live in Stevensville Michigan.

[@25Soupy]

46:00 minutes of the video: It doesn't matter if it's gold or bitcoin they're both measured in USD, everyone converts their gold or bitcoin into USD as the medium of exchange to purchase everything. I understand both are a preservation of wealth but unlike companies they don't produce anything like cars or iphones. You could even say both are speculations on the transfer of wealth.

[@regularcustomer8285]

Every cause creates an effect,

[@xenrake]

I think it will be volatile. I also crumbled into buying a coin at current prices even when I wasn’t going to.

[@acornsucks2111]

Stock market at an all time high. I have no problem with people being wrong, but when they are wrong over and over again, perhaps they shouldn't act so smug.

[@imconfused1237]

And who do you think is distributing their position into ATH euphoria?

[@JenX422]

And purchasing power is at an all time low. We are heading into soon an era where the higher the digital numbers, the lower the purchasing power

[@jeffcrawford6061]

We the chosen 10% can rely on the fed to care of us. And keep the un-invested 90% out of site and out of mind. But for how much longer??

[@lastnamefirstname2390]

Not for long. The guillotines are coming.

[@RaymoGerrits]

Imagine living with this guy. Literally breath taking. Otherwise, great content. Taking a walk to get some fresh air.

[@charlespeterson778]

Imagine him and Whitney having a child😊

[@charlespeterson778]

Whitney Webb

[@ageless-coach]

Smartest guy today…

[@ellstromdeuel9428]

Take a breath Matthew !

[@Carlos-im3hn]

this may be the Austrian crack-up boom or meltup. People putting investments into capital or commodities as a way to avoid actual inflation as fiat is printed.

[@3939steve]

They have not pivoted yet. Just said they were going too.

[@istvanpraha]

And I’m not sure a slight decrease counts as a pivot anyways

[@warrenmaker798]

Has anyone ever stopped to ask where all the extra interest money goes.....

[@egyptianhebrew91]

GOLD HAS NO RETURN ON YOUR INVESTMENT

[@David-yn7wl]

Gold is acting like a coiled spring

[@regularcustomer8285]

So is shammy

[@jasonhenn7345]

Chess not checkers, premiumly succinctly astute