$250,000 Gold? Central Banks Are About to Change Gold & Silver Prices Forever - Matthew & Egon

追加: 2026-05-20

[00:00:00]They know there is a net dumping of US Treasury since 2014 accelerated in 2022 and a net stacking of physical gold by the central banks.

[00:00:08]Central bank gold since we weaponized the dollar in 2022 has gone up 5x a day.

[00:00:13]They see the direction of the hockey puck and if we see it, they see it.

[00:00:17]They're not intimidated by the power so the financial leverage China has. It is a financial war. It is a currency war.

[00:00:22]You got to give credit. I think Rick Rule wrote that book years ago and much of it is playing out.

[00:00:26]>> Today, there's only $6 trillion worth of gold by central banks and that represents 0.2% of the outstanding debt.

[00:00:34]So if you go to 10%, that means 50 times increase and a 50 times increase would mean that gold in the $250,000.

[00:00:42]That's not impossible because it's not gold going up as we know, it's actually the value of paper money that's going down and that's going to go down to zero. So there's no reason why gold couldn't go to $250,000.

[00:00:55]Gold is no longer just reacting to markets. It is exposing the weakness of the entire paper currency system.

[00:01:01]Matthew Piepenburg and Egon von Greyerz explain that central banks are quietly moving away from US Treasuries and stacking physical gold because they understand where the system is heading.

[00:01:12]Since the dollar was weaponized in 2022, gold buying by central banks has accelerated sharply. This is not just a trade, it is a signal of distrust in paper assets, sovereign debt and the dollar-based financial order. China, BRICS nations and central banks are preparing for a new monetary reality where gold becomes the trusted settlement asset. Egon warns that if global debt and derivatives require even 10% gold backing, gold could theoretically reach $250,000.

[00:01:42]Not because gold is magically rising, but because paper money is losing value.

[00:01:46]The message is clear, gold is becoming money again. If you found this analysis helpful, make sure to hit that like button, share it with fellow investors who follow gold and silver and subscribe so you don't miss the next big update.

[00:02:00]But when it comes to gold, ironically people say, "Well, the sell-off after 2025 highs is proof that it was a bubble. It's going to go back to reality and we saw the end of peak gold, you know." And I or the truth of confirmation of peak gold and I think it's just the opposite. I think it's confirmation of gold's rising prominence because in any major crisis, in any major liquidity crisis, whether it's driven by a conflict in the Middle East or a market mean reversion, you have to sell your most liquid and valuable asset. And we've seen it whether it's sovereigns like Turkey or sovereigns like Saudi Arabia doing swaps in Switzerland where I work out of, they're having to sell their most liquid and favorite asset to cover the cost they have at home.

[00:02:45]They're also selling US Treasuries, but you know, gold is a larger share now of effects reserves than it ever was. It's a larger share of central bank balance sheets over the US Treasury, over the dollar. So, these trends are obvious.

[00:02:56]You're forced to sell the good for the sins of the bad. And I think that's not a sign of gold's weakness, but again, it's it's increasingly important role.

[00:03:04]And again, 15 straight months of central bank gold stacking. We had 3,800 tons last year of gold discoveries and half of that went to the central banks. The retail investors haven't caught on, they haven't gotten the memo, but look what the banks are doing from the BIS to the Fed. And look what they're having to sell in a moment of crisis. I think it's confirmation of gold. People say I'm just selling my book, my bias, I get it, but understand sound money, this is not terribly unusual. No. China, if you look at the the trade war, even before COVID, even before Putin, even before this, China's absolutely crushing us in the trade war. And that trade war becomes a currency war, it becomes a bond war, could become a hot war as Jim Rickards says, but hopefully never. That's insane. But China, even Chinese yields are actually compressing while the rest of the yields are going up. I don't think a Chinese 10-year safer than anything else, but it's fascinating to watch these boring metrics in the bond market. And they they don't have the fear of worrying about election cycles in China. And they have I mean they have the fear of other things that Tiananmen Square 2.0 is a major fear. They have demographic issues, they have pollution issues, they have debt issues, they have a real estate issue. So again, I'm not saying China is just going to shake its hands and walk away with a smile, but they do like we see, they see the weakness in America. They see the polarization of the politics, they see the 40 trillion in debt that the interest on our debt now, just the interest payment is higher than our total debt was in the Reagan era. And that's an unsustainable amount of debt.

[00:04:28]And they know there is a net dumping of US Treasury since 2014, accelerated in 2022, and a net stacking of physical gold by the central banks.

[00:04:37]Central bank gold since we weaponized the dollar in 2022 has gone up 5x today.

[00:04:42]So they see the direction of the hockey puck. And if we see it, they see it.

[00:04:46]They're not intimidated by the the power. So the financial leverage China has. It is a financial war, it is a currency war. You got to give credit. I think Rickards wrote that book years ago. And much of it is playing out. It's a great question, it's a commodity, but it's also a monetary metal. And 90% of the time I think gold acts like a commodity when when when currencies are well managed. When currencies are mismanaged, paper currencies, gold becomes a monetary metal. And so we're at that point now where gold's role as a true store value, as a monetary metal to net settle trade and to and to create trust between counterparties, that trust is more in gold than it is in paper currencies. That's what the BRICS love them or hate them, they don't trust each other entirely, they do trust gold in that settle. China gets this. The BRICS are get this. And the coalition gets this. So gold is a very important role now as a monetary metal, and it's just an inverse move to paper currencies. And I think the you know, the title of the presentation is yesterday, today and tomorrow. It's the famous adage, how do you know where you're going if you don't know where you've been? It's very important to see where you are in the context of history. This is something Egon has understood, Ray Dalio has understood. I think you and I understand. You really can't understand gold if you don't understand history first and economic second or together.

[00:05:54]And I think this is incredibly important right now to give it perspective. I think once people see the perspective of gold's role in history, the daily price, the quarterly price, the yearly price is really for Egon, it doesn't matter. And I know that sounds flippant if you're a long-term investor. Egon's known this for decades. I figured this out 10 years ago. Many are catching on. If you're a long-term investor, the daily swings are explainable and irrelevant because gold's direction north is only because paper currencies are down. You You mentioned when you opened yesterday, are you not entertained? Right? And I opened with a slide very similar with Russell Crowe.

[00:06:25]>> Yeah. Are you not entertained?

[00:06:27]>> In the Colosseum.

[00:06:28]>> In in in since 2000, gold's up 1580%. It has a compounded annual growth rate of 11%, whereas paper currencies in the same period are down 96% with a compounded annual growth rate of -10.

[00:06:39]This is great stuff that Ronnie Stoeferle provides in the In Gold We Trust report. So again, this isn't a gold case, folks. It's a paper currency disaster. And that paper currency is a disaster because it's been used to monetize unhalpable unsustainable debt.

[00:06:52]And so this is this is just history repeating itself sadly. Absolutely. I think it's it's I mean, I was a buy side for a lot of years in the family office.

[00:06:59]I had a very cynical I still have a cynical side. I'm always looking like an attorney, where's where's the BS here?

[00:07:05]Where are they selling their book? I I and whereas and I used to listen to the Greek math of option traders at Goldmoney. It was just meant to confuse.

[00:07:13]And you you felt like you were embarrassed as Good question. Gold has a lot of complexity. The COMEX has a lot of complexity. Bond markets have a lot of complexity. But listen, it's actually very simple. And I think Egon does a very good job over the decades of keeping it simple. It's very simple. A mismanaged debt destructive nation like the US and the European Union and Germany and France and others. When you get this deep in debt, you have to debase your money to monetize your debt.

[00:07:37]And we see this every cycle.

[00:07:39]And then credit tightens and then we have an uh-oh moment and everything else. And then usually, as Hemingway warned, we distract ourselves from this permanent ruin of currency debasement and war, and where we find ourselves right now, on the edge of an inflation nightmare and a conflict that we don't see an outside option for it. So, it's a it's really not terribly shocking, just disappointing. The bigger warning is that this crisis may not stay limited to gold. Egon von Greyerz believes the world is entering the final stage of a monetary era where debt, derivatives, and currency debasement collide at the same time. He warns that paper assets, stocks, bonds, and even property could face severe pressure as confidence breaks. Oil shortages are also part of the picture. Egon suggests real oil prices could move far above quoted futures prices, potentially reaching several hundred dollars if physical supply becomes unavailable. This would create pressure across industries, households, and global trade. Matthew Piepenburg adds that gold's long-term rule is not about daily price swings. It is about protecting purchasing power while paper currencies continue falling.

[00:08:45]In their view, gold's rise is really the mirror image of currency decline. Let's get back to the interview. Whatever happens now is not going to affect the outcome, because the outcome is absolutely certain. That means we are at the end of a monetary era, and that era is going to end as badly as all monetary eras. As a matter of fact, it's going to end a lot worse than any other monetary era for the simple reason that this is the biggest bubble in the world, and it's a global bubble. We've never had a crisis, a monetary crisis, of global proportions before, ever, in history.

[00:09:22]So, therefore, it's going to be worse than it has ever been before. Now, whether the EU get new news about oil or new news about gold, yes, of course it does have a short-term effect on markets and on prices, but it's not going to, as I said, it's not going to change the outcome. So, what is the outcome then?

[00:09:39]It's a collapse of the monetary system, which means that the money will die, which means money's going to go to zero in value as it always has done. It's gone down by already by 99% the value of money since 1971 when Nixon closed the gold window. And we're going to go see that final 1%, which is a massive collapse taking place now in the next few months and in the next few years.

[00:10:02]So, whether the Strait of Hormuz will be open or closed, well, it's already predetermined. You know, this is how to read markets. Markets reach a finale and we are at the finale now or at least at the beginning of the end of the finale.

[00:10:16]And that's when we're going to see more bad news than ever. Just take now the short term, what's happening? Airports are closing. Just saw today, Sunday, that Liverpool Airport is closing.

[00:10:28]Spanish airports are closing. Planes are not flying. They haven't got any fuel.

[00:10:32]And oil is priced at around in the $90.

[00:10:36]Well, the the real price is not in the $90. I've just heard a recent price in the Far East of $280.

[00:10:43]So, the real price is lot higher than the quoted price for the simple reason that there's no physical oil available for a lot of people around the world now. So, prepare for shortages of fuel, of fuel for your car, of fuel for your home, of fuel for the world's industries and factories, etc. And whatever Trump does or Iran does is not going to change the die is cast. So, what will this mean? Will it mean obviously a lot higher oil prices and massive shortages.

[00:11:11]There were at the beginning of this year oil reserves around the world for of about 1.6 billion barrels. That's gone down by already by 650 million barrels and is going down by another 450 million barrels per month. So, we will soon run out of reserves and when there are no more reserves, that means that the price, the real price will be not the futures price that we see now, which is not a real price. The real price will be what somebody's prepared to pay for a barrel of oil and and especially a barrel of oil that doesn't exist in most places. It would be a lot higher. Oil will go to several hundred dollars. And it's the same with the metals. For example, silver, there are hundreds of billions of ounces of silver that on the futures exchanges that is standing for delivery. But there is no delivery.

[00:11:57]There's no one who can deliver silver.

[00:11:59]And at some point in the very near future, and I've talked about this before, silver is not just going to go up a back over $100 again. It's going to go to $200, $300, $400, $500. And that could very easily happen this year or even in the next few months because we are very very likely to see a panic. And it's the same in gold. A lot of gold standing for delivery also. Do you have hundreds of millions of ounces standing for delivery? And again, there will not be any delivery because there is no physical gold available. Only futures contracts that have a value which is massively massively above the current price. Well, that's just in these markets. And you can imagine what's effect this will have on financial markets. Look at global debts as I show here on the on this pyramid. Global debt is probably around 360 trillion. And you add to that unfunded liabilities and you add to that outstanding derivatives, which I estimate to be the real outstanding derivatives is probably around two two to two and a half quadrillion dollars. The Bank of International Settlement is giving the totally wrong figure here. So, if you add the outstanding derivatives and the outstanding global debt and outstanding unfunded liabilities, you get to around three quadrillion. And that three quadrillion is debt or or quasi debt today, and it will turn into real debt.

[00:13:19]And what will that lead to? It will lead to massive money printing. And as you can see here, you have King Donald and his mistress Madame de Pompadour pal. Of course, not his real mistress, but from history Louis the 15th and Madame de Pompadour when they lost the war against Prussia in the mid-1750s, Madame de Pompadour said to the the King Louis the 15th, "After us the flood." They knew that this was the end of of an era for them and it was France is going to go have real problems, financial problems, also of course leadership problems because you got the revolution a couple of decades later. So, and this is what we're going to see in the world here now. So, leaders will be thrown out, wars will be lost, money will be printed, but it'll be worthless money, of course, and therefore the value of money will go to zero as it has in every monetary era throughout his So, you could see the people here drowning in debt because they'll be as I said unlimited amounts of money printed to save the world, but you can never save a world which has a debt problem by printing more debt. So, the consequence will be that that money will become worthless. So, if you look at the amount of outstanding debt in the world, including derivatives as I said before, of about three quadrillion, and you say that to be a properly balanced system, you should have at least 10% gold coverage against that three quadrillion.

[00:14:35]So, in order to have a proper coverage by gold against the three quadrillion, you would need, let's say, 10%. Today, there's only six trillion dollars worth of gold held by central banks, and that represents 0.2% of the outstanding debt.

[00:14:52]So, if you go to 10%, that means 50 times increase, and a 50 times increase would mean that gold in the $250,000.

[00:15:00]That's not impossible because it's not gold going up as we know, it's actually the value of the paper money that's going down, and that's going to go down to zero. So, there's no reason why gold couldn't go to $250,000.

[00:15:13]But it's as a meaningless figures because the real figure is that gold will maintain its purchasing power and probably you better than that. What's also going to happen in the next few months here is that all paper asset markets will fail. Stock markets will start a long-term secular bear trend and stocks will collapse and that will start in the next few months, could be earlier. So will bond markets. Bond markets will come down dramatically because no borrower, whether a sovereign or or corporate or private, will be able to afford to repay the debts. Bond markets will crash and interest rates will go up to at least the 20% or around that level as they were in the end of the 1970s and early 1980s and I remember it well. And so don't hold bonds, don't hold stocks, don't hold property.

[00:15:59]Property is leveraged and is a bubble.

[00:16:01]You should hold hard assets and of the hard assets, of course, gold and silver are the premier assets to hold. Hold hold them in physical form, hold them outside the banking system, hold them in the safest vaults in the world that you can find. We store gold in the Swiss Alps for clients, which are probably the safest vaults in the world, and you should have direct access to your vault and it should be in countries like Switzerland, possibly also Singapore, where there's safe jurisdictions and stable governments. So please, if you want to save yourself, if you want to save your family, if you want to save your wealth, get out of now of the paper assets, get out of stocks, get out of bonds and buy physical gold and silver and you're going to feel feel a lot safer than you would be doing if you stayed in these asset classes. Silver may become one of the most explosive parts of this entire story. Egon von Greyerz warns that futures markets are showing massive paper claims against metals that may not actually be available for delivery. If confidence breaks and investors demand physical metal, silver could move violently higher. His prediction is direct. Silver may not only move back above $100, but could rise toward $200, $300, or even $400, possibly within this year or even within the next few months if panic hits the physical market. Gold faces a similar issue with paper claims far larger than available physical supply.

[00:17:25]The broader message from Matthew Piepenburg and Egon von Greyerz is that investors should stop looking at gold and silver as ordinary commodities. They see them as monetary protection in a world where debt is too large, currencies are being debased, and central banks are already preparing for what comes next. Their warning is simple. Paper wealth can disappear quickly when confidence fails, but physical gold and silver remain outside the banking system. If this gave you value, smash that like button, share it with those paying attention, and subscribe so you don't miss what's coming next. Stay alert, stay prepared, and keep stacking tangible assets.