Trump’s Tariffs: Back Forward Explainer Facebook Linked In Gift Expand A worker counts dollar banknotes at a currency exchange office. Source: Bloomberg Facebook Linked In Gift Gift this article Contact us: Provide news feedback or report an error Confidential tip? Send a tip to our reporters Site feedback: Take our Survey New Window Facebook Linked In Gift By [PERSON_NAME] and [PERSON_NAME] August 24, 2026 at 2:28 PM [PERSON_NAME] and fiscal uncertainty in the [ADDRESS] is prompting investors to again turn nervous toward the dollar. As some have offloaded the currency, alternative assets such as Bitcoin and gold have seen their value soar.

Wall Street has dubbed this “the debasement trade” — a nod to the historical practice of rulers such as King [PERSON_NAME] of [ADDRESS] and the [PERSON_NAME] emperor [PERSON_NAME], who diluted, or debased, gold and silver coins with cheaper metals such as copper. The term captures the idea that investors are seeking refuge from the dollar because of fear it’s being devalued.