The Debasement Trade Could Shape 2026

Core Thesis - The debasement trade suggests that currencies will experience real value erosion due to fiscal dominance, financial repression, and geopolitical instability, leading to a spike in the value of real assets [1] Group 1: Factors Contributing to Currency Erosion - Fiscal dominance is identified as a key factor contributing to the erosion of currency value [1] - Financial repression is another significant element that impacts the real value of currencies [1] - Geopolitical instability is also highlighted as a contributing factor to the depreciation of currency value [1] Group 2: Real Assets - Precious metals such as gold, silver, and platinum are expected to see a significant increase in value as a result of the debasement trade [1]