Vague Theory #4347
Gold and bitcoin bugs kinda have to be deflationary in outlook which means they have to be scared of debt and therefore they’re deficit hawks who believe deficits are sins with karmic consequences so they have to be permabears
Mercantilist thinkers
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Though interesting both gold and bitcoin are down. When usually BTC seems to be a higher volatility S&P, where gold is often negatively covariant to it. Now though, people are just liquidating for cash bc of the crash I think, causing some opposite behaviors to mild downturns.
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not just cash... also stockpiling commodities... toilet paper > gold apparently
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I'm thinking more that this is Wall St needing cash to reduce their previous leverage. They've sold cheap just to get that cash. Commodity indexes are down too.
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