The Debasement trade was a neat goldbug and Bitcoiner influenzoor talking point last year.
alas, like most pumped-up hyped things, it didn't pan out.alas, like most pumped-up hyped things, it didn't pan out.
lol, you suckers believed it?? Yeah, so it seemed -.-
That reversal has played out thanks to gold’s loss of haven appeal, even as three months of fighting in the Middle East gave investors powerful need of somewhere to shelter. It’s also driven by a broader unwinding of the debasement trade that had probably started to fray before the war.
- Kevin Warsh (with some meek promises of higher real rates...)
- S&P running away
- 3 AMigos trade #1514363
...and it got debunked, unfortunately. SO LONG, SHIIFYYY
Gold tumbled as much as 13% from an all-time high that day, its steepest decline in more than four decades, while its putative modern replacement, Bitcoin, subsequently collapsed. The dollar, meanwhile, found a bottom after a prolonged slide.
If you're a Bitcoiner... honestly, just own anything else. Even good ole-fashion dollars.