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The Debasement Trade Is Unraveling and Kevin Warsh Is One Big Reason

The Debasement Trade Is Unraveling and Kevin Warsh Is One Big Reason
Bloomberg Markets Wednesday 24 June 2026, 10:45 UTC By Ye Xie, Anya Andrianova, George Lei 1 min read
Key Points

The Debasement Trade Is Unraveling and Kevin Warsh Is One Big Reason In hindsight, the beginning of the end for the debasement trade can be traced back to Jan. 30. That’s when US President Donald Trump nominated Kevin Warsh to lead the Federal Reserve, prompting investors to reassess the popular macro play centered on diversifying away from the dollar. Gold tumbled as much as 13% that day from an all-time high, its steepest decline in more than four decades, while Bitcoin subsequently collapsed.

The Debasement Trade Is Unraveling and Kevin Warsh Is One Big Reason In hindsight, the beginning of the end for the debasement trade can be traced back to Jan. 30. That’s when US President Donald Trump nominated Kevin Warsh to lead the Federal Reserve, prompting investors to reassess the popular macro play centered on diversifying away from the dollar. Gold tumbled as much as 13% that day from an all-time high, its steepest decline in more than four decades, while Bitcoin subsequently collapsed. The greenback found a bottom after a prolonged slide.
The Debasement Trade Is Unraveling (ORG) Kevin Warsh (PERSON) US (LOCATION) Donald Trump (PERSON) the Federal Reserve (ORG) Bitcoin (ORG)
Originally published by Bloomberg Markets Read original →

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