MarketPR
The concern over the size and cost of U.S. government spending has given new life to the debasement trade. Gold and crypto are both back in focus, with a bond maneuver from Bessent cited as the catalyst.
When markets grow anxious about fiscal scale and the price of financing it, capital tends to rotate toward assets that sit outside the paper currency system. Gold is the classic destination for that shift.
Crypto has increasingly drawn on the same logic. On-chain flows tend to register the move before equities fully price it in, and right now both are in play. The anxiety has two dimensions: the raw scale of U.S.
government spending and what it costs to finance. Those two variables compound each other, and together they are what makes the debasement argument live rather than a background hum.
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