The US Treasury’s bond buyback program was doubled in early August by Secretary Scott Bessent, reaching $30 billion per quarter. Analysts, including Citadel Securities, interpret this policy as a form of « financial repression » aimed at reducing debt through monetary erosion. US public debt crossed $40 trillion on August 19, with the federal budget deficit heading toward $2 trillion this year and debt interest already exceeding $1 trillion per year. Since the announcement, investors have accelerated their debasement trade bets, pushing gold and Bitcoin higher, with BTC rallying nearly 25% in just a few days. Asian central banks have also continued accumulating gold throughout the year, a move aligned with the same hedging logic against currency debasement.
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