Gold, Bitcoin High-Price Cures Could Trickle Down "Run it hot" may have reached a pinnacle if peaks in Bitcoin and gold are guides, adding to the burden on the stock market to keep going up, or else. Seemingly unstoppable government deficit spending and rising money supply have been cited as top reasons to own Bitcoin, gold and the stock market, to avoid the risks of falling behind a rising tide. The fact that the S&P 500 has surpassed its 2000 high vs. M2 money supply, alongside US Treasury 30-year yields rising to a similar quarter-century pinnacle, may suggest prices are reaching levels that could spur a correction. Gold and Bitcoin could be a long way from prices low enough to spur a recovery. That's my takeaway from the graphic showing gold peaking in 1Q at its highest level vs. money supply since 1982. Previous leader and now laggard Bitcoin may be front-running some reversion in wealth creation. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tjwvjrkgzaj0 {BI COMD} #gold #bitcoin #stockmarket @Bloomberg(Mike McGlone)