Dollar weaponization is a ’genie that never goes back in the bottle’ - Matterhorn’s Piepenburg
Western sanctions against Russia weaponized the dollar and caused distrust of the world’s reserve currency, which ultimately is good for gold, said Matthew Piepenburg, partner at Matterhorn Asset Management.
In mid-July Kitco Mining spoke to Piepenburg at the Rule Symposium Natural Resource Investing 2023 show held in Boca Raton, Florida.
“When you take a country like Russia and you freeze its access to FX reserves, you take it off the SWIFT currency system, even SDR access, these things are going to raise eyebrows for other countries,” Piepenburg told Kitco correspondent Paul Harris.
He added that the stronger dollar and higher interest rates are particularly stressful for developing countries, which hold $14 trillion worth of dollar-denominated debt.
“Those two forces of a strong, long-interest-rate-driven dollar and a weaponized, politicized dollar have really caused a ripple effect of distrust for the world reserve currency.”
While Piepenburg says it’s not the end of the dollar nor of fiat currencies, “the trend is clearly a de-dollarization…. once you weaponize that reserve currency as I said then, the genie never goes back in the bottle.”
Asked what will build investor interest in gold, Piepenburg said it’s when the reduced purchasing power of the US dollar becomes obvious. “They need an anti-fiat antidote to weak money.”
Kitco Mining’s coverage of the Rule Symposium Natural Resource Investing 2023 was sponsored by G Mining Ventures.
0:35 Who is Matterhorn Asset Management?
1:54 Weaponizing the world reserve currency
5:42 Fed tightening
8:38 Why are the markets so dependent on the Fed?
10:10 Potential for recession
12:56 Rally in equities
15:06 Building investor interest in gold
__________________________________________________________________
Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.
Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app -
Stay connected with us
Twitter -
Instagram -
LinkedIn -
Facebook -
Connect with the Kitco Mining anchors
Michael McCrae -
Paul Harris -
For more in-depth mining coverage, visit us here -
Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.
1 view
2892
992
2 months ago 00:02:21 1
Welcome to Team Fortress
2 months ago 00:01:08 1
UAE-linked company in Serbia supplies weapons to Israel amid war on Gaza
2 months ago 00:02:32 1
Medical Care in Russia: An American Wake-Up Call
2 months ago 00:08:03 1
World’s Most Powerful Militaries
2 months ago 00:34:14 1
Внутри поезда Ким Чен Ына, загруженного оружием на 1 миллиард долларов
2 months ago 00:05:13 2
Hot Toys Avatar The Way of Water Jake Sully Figure Unboxing | First Look
3 months ago 00:10:21 1
How Russian Nuclear Bomber Works? Tu 160 Tu 22 Tu 95
3 months ago 00:20:07 1
Biden SCREWING America! Japan and Saudi Arabia JUST DID THE UNTHINKABLE!!
3 months ago 01:05:17 1
Petrodollar Deal Expires; Why this Could Trigger ‘Collapse of Everything’ – Andy Schectman part1/2
3 months ago 01:22:25 1
What did Xi Jinping say about Taiwan Petrol dollar ends Peace conference Egypt preparing for war...
3 months ago 00:44:17 1
🔴Col. Douglas Macgregor: The Media is Lying - Putin Knows EXACTLY What He’s Doing!!
3 months ago 00:00:53 1
Steven Seagal - I have Something In My Pocket - The Glimmer Man - 1996
3 months ago 00:02:24 1
GTA 5 Online Bottom Dollar Bounties DLC - ALL CONFIRMED CARS | 8 NEW CARS
3 months ago 00:58:25 1
Bureau 39: Kim’s Cash Machine | Investigation | Crime Documentary
3 months ago 00:29:49 1
This Abyss Is INSANE (Day 1 Tier List, 4 Star Weapon Clear, Abyss Guide for 4.7)
3 months ago 00:22:54 1
The Russian Rouble is COLLAPSING! Why now?
3 months ago 00:34:41 1
Hackaday Supercon - Jeremy Hong : Electronic Warfare; a Brief Overview of Weaponized RF Design
3 months ago 00:00:45 1
Putin Says Russia to Send Nuclear Weapons to Belarus in July
3 months ago 00:03:13 9
Нас жадные звери на бойню ведут!
3 months ago 00:04:00 1
DISL Automatic - They Don’t Care About Us (Lyrics in Description)
3 months ago 00:36:45 1
Biden’s apology to Elensky. Putin, US destroys dollar. BRICS blockchain. NATO, Russia everywhere
3 months ago 00:01:00 1
Painting a $700 Daredevil Elektra Statue 🤯
3 months ago 00:09:43 1
“I Was Shocked“: Meet the State Dept. Official Who Quit After Report Denies Israel Blocking Gaza Aid
3 months ago 00:09:41 1
Germany Says Ukraine Can Hit Russia With Their Weapons as EU Steps Up