Gold & Bitcoin Rally Together as the Debasement Trade Returns - ETF.com

Gold & Bitcoin Rally Together as the Debasement Trade Returns - ETF.com

Source: ETF.com

DW NOTE

Gold and bitcoin rallying in tandem is not the debasement trade returning — it's the debasement trade that never left. The US deficit is running $1.4 trillion through June, up 3% year-on-year, while the Fed holds rates at 3.65% against 3.40% inflation. That's real negative rates with a structural deficit. The only surprise is that anyone still calls this a trade rather than a structural position.

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