The United States is heading towards a currency collapse point, and according to Lawrence Lepard, a conservative currency advocate and investor, time is running out.

Lepard presents the core argument in his book "What Happens in America and How a Sound Currency Will Resolve It," harshly criticizing fiat currency, Federal Reserve policies, and the political system.

Lepard said, "Our financial system is built on the foundation of sand, not sound currency, and it is collapsing." In his view, today's inflation, debt, inequality, and social division in the United States are symptoms of deeper currency chaos that began decades ago.

He said, "The biggest problem of our time is the fragmented monetary system, which has led to huge wealth inequality. When someone can create currency with just a click of the mouse, it is inherently unfair

According to data from the St. Louis Federal Reserve, the US M2 money supply has grown from $663 billion in 1971 to over $21 trillion by the end of 2024, meaning a compound annual growth rate of nearly 6.8%. Lepard believes that monetary expansion is the true driving factor of inflation, rather than corporate greed or external shocks.

He quoted ShadowStats economist John Williams as saying that the official CPI underestimates real inflation and distorts the public's understanding of the economic situation. He said, "Inflation is always a monetary phenomenon." He echoed Milton Friedman's statement that "the government has every reason to lie about it

Lepard believes that the United States is in the final stage of what he calls the "decades long monetary experiment," which began with the Federal Reserve Act of 1913 and accelerated when the US abandoned the gold standard in 1971. He believes that the increasing debt is a catalyst. He cited Hirschmann Capital's research and said, "Our current debt to GDP ratio exceeds 120%. Historically, once a country crosses the 130% threshold, a currency crisis is almost inevitable

According to Lepard, the consequences could include deflationary collapse, rampant inflation, or a comprehensive currency reset. He said, "We are in what I call a cycle of debt misfortune, with interest costs driving the deficit, which requires more borrowing, which once again raises interest costs. This is reflexive

To understand this moment, Lepard pointed out the "fourth turning point" framework proposed by historians William Strauss and Neil Howe. He said, 'The core issue of this crisis is: what is money?' According to the Fourth Turning Point theory, Western society undergoes a transformative change every 80 to 100 years. He believes that we are currently trapped in this cycle, and the situation on the other side will redefine the global monetary order.

He made it clear that he supports gold as a reliable currency alternative. He believes that the key is that the central bank cannot print them.

Lepard also strongly warned of the long-term consequences of uncontrolled devaluation of legal tender. He said, 'When people realize that the government can never stop printing money, hyperinflation occurs.' According to him, this awareness is rapidly spreading, from Costco shoppers to global central banks actively buying gold.

According to Lepard, the solution is radical but rooted in history: abolish the Federal Reserve, end the Federal Deposit Insurance Corporation (FDIC) guarantee, and let the free market determine what currency should be. He said, "We don't need a central planner for currency. Banks that take risks should go bankrupt. We need to return to the rule of law and reward depositors again

For ordinary Americans, Lepard's message is very direct: protect your purchasing power now. The government has fallen into a debt trap, and they will get out of it through printing. They have things they cannot print: gold, scarce physical assets