My timeline is full of “buy anything: gold/stocks, sell dollars.” Now, imagine gold is ur base currency Gold is up ~+100% in 2 years That means USD is -50% vs gold But CPI over same 2 years is only ~+5.7% If u were paid in gold, wouldn’t u start swapping some back into USD? Just sentiment around fiat that’s why everything is pumping - not on fundamentals, but on fear. Gold didn’t suddenly become more valuable. Companies didn’t suddenly start earning more. Prices just rerated - higher multiples, worse P/E - because people are paying up to not hold fiat. A big chunk of every move is just people paying a premium to be in anything other than USD. The “anti-fiat” trade is now baked into prices everywhere, and you need to realize that, cause as I see, 99% ppl - don't. Everyone can spot fear/greed in assets - crypto, stocks, real estate. When everyone screams “DON’T BUY”, that’s usually fear - and fear is where you buy. But nobody applies that to USD, because we price everything in dollars. Flip the lens. Right now “sell dollars, buy anything” is the consensus. So buying USD here is basically buying the fear trade.(𝗰𝘆𝗰𝗹𝗼𝗽)