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Something is off right now. Global money supply is expanding, and fast. But look at gold. $XAU is not keeping pace. Historically they move together. More money printed, higher gold. That link is breaking. The same story is playing out with $BTC. When liquidity floods the system, hard assets are supposed to respond. That’s the whole point of them. Yet both gold and Bitcoin are lagging the money supply growth. This kind of divergence doesn’t last forever. Either the money supply slows down, or $XAU and $BTC catch up. I’m betting on catch up. Scarcity wins when the printer runs. $BTC and $XAU were built for exactly this moment.