00:00 Julian

For our viewers, can you explain the so-called debasement trade? And and by the way, I feel like even us calling it the debasement trade is like me using the word Fiat, right? It’s like these defy coded words that somehow have now made our way into the parlance. I mean, and we say them as though they’re not loaded words. I mean, the word debasement is obviously a loaded word, but explain for our viewers what the debasement trade is all about.

00:23 Speaker B

I’m so glad you brought it up Julian. Thanks for calling me out on it. I’ve started to use these uh crypto words that I uh, you know, maybe uh that are new to me and I’m using them like a tourist. But it it it was in fact like a Swiss private banker who used that word in a meeting with me and so that’s that’s where I uh uh, you know, picked it up most recently.

00:41 Speaker B

Look, people have worries about the strength and the dominance of the US dollar and you see gold hit 4,000 today for the first time. Gold’s been on a tear since mid August. Um I think it’s the same idea that, you know, living in US dollars, US dollar dominance is something that uh some people feel is at risk right now. And so what do you do? Do you hop off into another uh fiat currency or another, you know, sort of central bank supported currency or do you find another source of hard money to store your value until um you think that the dollar is going to resume its place as something whose value will be reliable.

01:21 Speaker B

Um the dollar really hasn’t had a year like this uh in my recent memory and I think the last couple of months are raising concerns. So people are hopping into gold and hopping into Bitcoin as a way to um to store the value of their value and if the dollar continues to weaken or even make some more serious or uh volatile plunge that people’s value will be stored. So, yeah, debasement’s a pretty strong word. Um and maybe we shouldn’t use it lightly and uh I think there’s a lot of talk in the press about Bitcoin being the debasement trade right now, but uh I I just look at the price of Bitcoin, the denominator is US dollars, and if I feel dollars are going to be weaker and Bitcoin just maintains its value, the price should go up.

00:00 Julian

For our viewers, can you explain the so-called debasement trade? And and by the way, I feel like even us calling it the debasement trade is like me using the word Fiat, right? It’s like these defy coded words that somehow have now made our way into the parlance. I mean, and we say them as though they’re not loaded words. I mean, the word debasement is obviously a loaded word, but explain for our viewers what the debasement trade is all about.

00:23 Speaker B

I’m so glad you brought it up Julian. Thanks for calling me out on it. I’ve started to use these uh crypto words that I uh, you know, maybe uh that are new to me and I’m using them like a tourist. But it it it was in fact like a Swiss private banker who used that word in a meeting with me and so that’s that’s where I uh uh, you know, picked it up most recently.

00:41 Speaker B

Look, people have worries about the strength and the dominance of the US dollar and you see gold hit 4,000 today for the first time. Gold’s been on a tear since mid August. Um I think it’s the same idea that, you know, living in US dollars, US dollar dominance is something that uh some people feel is at risk right now. And so what do you do? Do you hop off into another uh fiat currency or another, you know, sort of central bank supported currency or do you find another source of hard money to store your value until um you think that the dollar is going to resume its place as something whose value will be reliable.

01:21 Speaker B

Um the dollar really hasn’t had a year like this uh in my recent memory and I think the last couple of months are raising concerns. So people are hopping into gold and hopping into Bitcoin as a way to um to store the value of their value and if the dollar continues to weaken or even make some more serious or uh volatile plunge that people’s value will be stored. So, yeah, debasement’s a pretty strong word. Um and maybe we shouldn’t use it lightly and uh I think there’s a lot of talk in the press about Bitcoin being the debasement trade right now, but uh I I just look at the price of Bitcoin, the denominator is US dollars, and if I feel dollars are going to be weaker and Bitcoin just maintains its value, the price should go up.