The Monetary Reset Is Underway: Why Gold and Bitcoin Are the Lifeboats
A recap of my conversation with Larry Lepard and David Foley
We recently sat down with Larry Lepard and David Foley to explore what’s happening beneath the surface of today’s economy. This post distills the key themes that stood out—and why they matter for anyone serious about preserving wealth in a time of accelerating change.
In an era of growing uncertainty, understanding the true nature of money is no longer optional. As we navigate a complex and increasingly unstable financial landscape, one thing is becoming clear: a major monetary reshuffling is underway. And it’s favoring sound money—assets like gold and Bitcoin.
The Current Economic Climate
It’s only four months into 2025, but markets are already sending strong signals.
S&P 500: down ~5%
NASDAQ: down ~10%
Gold: up ~25%
Bitcoin: flat, up ~1%
But the real story lies beneath the surface:
Port of Long Beach volumes: down 64%
Airline forward bookings: down 35% year-over-year
Chase credit card spending: down 12%
Volatility triggered by tariff announcements
These aren’t isolated data points—they’re early indicators of a recession. Yet markets remain fixated on the hope of a trade deal or Fed rescue. That hope may be misplaced.
Tariffs and the End of Triffin’s Dilemma
The Trump administration’s aggressive tariff stance has sparked controversy, but the message is consistent: the U.S. is prioritizing domestic strength over maintaining global reserve currency dominance.
This could mark the beginning of the end for Triffin’s dilemma—the conflict between managing domestic economic needs and maintaining global monetary power. For the first time in decades, policymakers are signaling a willingness to step back from the burdens of reserve currency status in favor of strengthening Main Street.
It’s disruptive, but it may be necessary.
The Coming Sovereign Debt Crisis
This isn’t just another downturn—it’s the early stage of a sovereign debt crisis. Even Warren Buffett has publicly acknowledged the risk of a currency crisis. That alone should tell you how serious this is.
The math is simple:
U.S. debt-to-GDP is above 120%
Interest costs are ballooning
Entitlement obligations are rising
Growth isn’t keeping up
As economist Herbert Stein once said:
“If something cannot go on forever, it will stop.”
We’re nearing that stopping point.
The Return to Sound Money
Historically, when fiat systems fail, people return to sound money. Today, that means gold and Bitcoin.
Gold has already begun to decouple from real interest rates—a signal that investors are recognizing its role as crisis collateral. It’s no longer just a hedge; it’s being repriced as money.
Bitcoin offers something even more profound:
A fixed supply
Global accessibility
Immunity to political manipulation
Together, gold and Bitcoin represent just 1.4% of global financial assets—compared to 8–9% in 1980. The upside is significant as capital begins to rotate out of debt-based assets and into scarcity.
Why This Time Is Different
Skeptics point to past false alarms. But today’s backdrop is historically unique:
We’re at the tail end of a 50-year debt supercycle
Demographics are working against developed economies
The financial system is more leveraged than ever
The bond market is showing stress fractures
The Fed has limited ammunition left
When the next break comes, it won’t be met with confusion—it will be met with printing. And this time, more people will understand what that means.
Protecting Your Wealth
In a monetary reset, wealth doesn’t disappear—it moves. It flows into assets that are scarce, durable, portable, and beyond the reach of central banks.
Gold and Bitcoin fit this profile.
Yes, they’ve appreciated significantly over the past decade. But when viewed through the lens of monetary debasement, they remain deeply undervalued.
If the Titanic is sinking, lifeboats will only get more expensive. But the alternative is staying on board.
Looking Ahead
Fourth turnings—like the one we’re in now—are periods of upheaval. But they’re also moments of rebirth.
A sound money system won’t solve all our problems. But it could restore:
Economic accountability
Merit-based outcomes
Smarter capital allocation
A reduction in wasteful government spending
Real innovation, grounded in value—not leverage
We can’t predict the exact timing of what’s coming. But the direction is clear:
Gold and Bitcoin will be the best-performing assets of the next decade.
For those who see it early, this may be the greatest wealth transfer opportunity in modern history.
Sound Life Spotlight: Daylight Computer
This newsletter is about building a sound life—not just financially, but physically and mentally too.
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