debasement

The long-term case is the “debasement trade,” the idea that indebted and politically-weak governments will eventually do the opposite of Volcker and choose inflation over recession.

But gold may be signaling a different type of crisis, one in which “global government debt levels are unsustainable, and the only way out may be currency debasement and/or inflation,” he said.

Bitcoin and other cryptos have benefited from the so-called “debasement trade,” in which assets such as Bitcoin and gold gain value as fiat currencies weaken.

Wall Street has dubbed it the “debasement trade.”

Investors worried about the future of the dollar and other major currencies are piling into gold, bitcoin and other alternative assets, powering what has become known on Wall Street as the debasement trade.