Book Review: The Big Print by Lawrence Lepard

In The Big Print, investor and sound money advocate Lawrence Lepard delivers a compelling argument about the dangers of unchecked money printing and the path back to a financially stable America. The book weaves together economic history, critiques of Federal Reserve policy, and Lepard’s vision for how individuals can protect themselves—and potentially benefit—by embracing sound money principles like Bitcoin and gold.

This book is ideal for readers looking to deepen their understanding of inflation, fiat currency, and why long-term investing in hard assets could be a powerful hedge against economic instability.

Who is Lawrence Lepard?

Lawrence “Larry” Lepard is a former growth equity investor who became a staunch advocate for sound money after observing what he believes to be unsustainable fiscal and monetary policies in the U.S. He’s well-known in the Bitcoin and gold communities for his outspoken critiques of the Federal Reserve and his belief that a return to sound monetary principles—meaning money backed by real assets—is essential for long-term financial health.

Lepard is also the managing partner of Equity Management Associates, where he manages capital with a focus on monetary debasement hedges like gold miners and Bitcoin-related assets.

Key Lessons from the Book

Inflation is Not Just a Number

Lepard breaks down how inflation isn’t merely the 2–3% number you see on financial news. Instead, it’s a silent thief that erodes purchasing power and distorts markets. For those trying to budget, plan for retirement, or achieve financial independence, understanding how inflation works is critical.

Sound Money = Financial Freedom

A major theme of The Big Print is that “sound money” (money that retains its value over time – not money that you can hear) empowers individuals. Lepard argues that when a currency is backed by a hard asset like gold or constrained like Bitcoin, governments can’t print their way out of problems. That means fewer boom-and-bust cycles, and more long-term stability for savers and investors.

The Importance of Self-Reliance

Lepard emphasizes personal responsibility in wealth-building. He’s critical of a system that encourages credit card debt and consumerism while punishing savers. For readers starting their financial journey, this book is a call to live frugally, invest wisely, and take control of your future instead of relying on unstable institutions.

Bitcoin and Gold as Inflation Hedges

A good portion of the book is devoted to the role of Bitcoin and gold in a diversified portfolio. Lepard makes a strong case that these assets can help safeguard wealth in an era of increasing government debt and currency devaluation—making the book particularly relevant for those building a S&P 500 nest egg and looking for additional layers of protection.

Criticisms of the Book

While The Big Print is passionate and well-researched, it’s not without flaws. Some criticisms include:

Echo chamber tone: The book largely appeals to readers who already share Lepard’s views. It doesn’t do much to engage skeptics of Bitcoin or gold (like Warren Buffett for example).

Overemphasis on doom: At times, Lepard’s outlook borders on alarmist. For readers new to personal finance, the narrative might feel overwhelming or even discouraging.

Lack of actionable steps: While the macroeconomic analysis is strong, there are fewer practical steps for average readers trying to improve their personal finances day-to-day.

Should You Buy It?

If you’re someone who’s worried about inflation, curious about Bitcoin, or distrustful of government monetary policy, The Big Print is definitely worth reading. It adds depth to conversations around financial independence, monetary history, and long-term wealth preservation.

However, if you’re looking for a beginner-friendly guide on how to create a budget or pay off credit card debt, you might want to start with a more practical personal finance book before diving into The Big Print.

Final Thoughts

The Big Print is a thought-provoking read that challenges mainstream economic narratives and champions the value of sound money.

Frugal living, avoiding unnecessary debt, owning your home, and investing in long-term assets like the S&P 500 are all part of a sustainable financial strategy. The Big Print might add an extra layer of awareness about the macro forces that can either help or hinder your journey to financial independence.

If you’re ready to zoom out and think big about money, The Big Print is a solid read. Just don’t forget to pair it with practical tools like a budgeting app, a high-yield savings account, and a commitment to living below your means.