fiat

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.

By surging past $4,000 for the first time ever this week, gold is “reinforcing its role as a hedge against accelerating fiat destruction and fiscal instability,” he told MarketWatch.

Still, as Robin Brooks of the Brookings Institution noted, the dollar has been stable since August, suggesting gold’s recent rally is about eroding faith in all fiat currencies.

Investors might not trust the stewards of fiat currencies around the world, but they are, for the moment at least, still happy to follow the leaders of the world’s biggest AI companies.

He practically governs by fiat on Truth Social as if he were a medieval lord, while his minions relentlessly disperse their anger and vitriol across cyberspace.