As US government debt cracked $US40 trillion ($56 trillion) this month for the first time, gold and bitcoin bulls have been piling back in to the so-called debasement trade, betting on the demise of the US dollar.
Bitcoin surpassed $US80,000 for the first time since May while gold jumped roughly 10 per cent in August to around $US4,436 – its strongest performance since January – despite easing at the end of last week after hawkish comments from the US Federal Reserve chairman Kevin Warsh raised the spectre of an interest rate rise in September.
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