Investors are turning to precious metals and cryptocurrencies in the “debasement trade” amid growing government deficits and political turmoil. Gold has surged over 50% to over $4,000 per ounce, while Bitcoin remains up over 20%. Central banks are increasing gold reserves as fiscal and trade policies add uncertainty. The rise of this trade reflects a shift away from sovereign debt towards tangible assets. However, critics warn of a speculative bubble. The debate highlights the fragility and resilience of global markets, with investors questioning the primacy of fiat currencies in the future. Gold could rise to $8,500, signaling a long-term shift in global capital allocation.

Read more at Quiver Quantitative: Debasement Trade Roils Financial Markets (GLD)