Debasement (the expansion of the money supply beyond productive output) is occurring right now. As we’ve established, precious metals are capturing this through spot price appreciation against dollar weakness. Silver’s nose-bleed rally alongside gold at record highs confirm the dollar is losing purchasing power against real goods.

But Bitcoin isn’t... See more

Most Bitcoin advocates conflate monetary expansion with hard asset appreciation, assuming it automatically flows into scarce stores of value. This ignores a critical mechanism: cheap money doesn’t necessarily mean money flows to hard money without understanding the shape of the yield curve. When rates fall, duration-sensitive assets, especially... See more