When gold and silver rose first, Bitcoin had already won half. This is not the market, it is the process, and it concerns the US $38 trillion treasury bond! There is a possibility that it is becoming increasingly unsuitable for discussion in mainstream media, But logically, it is becoming increasingly smooth. That's it—— The real debt restructuring plan in the United States may never be in Congress, but in asset prices. When the debt scale reaches a certain level, The language of finance is starting to lose its effectiveness, The policy narrative has become pale, The only thing that can still work is the price. At the beginning of the year, Trump said a sentence: Bitcoin can solve the $37 trillion debt problem in the United States At that time, most people only thought he was riding on the cryptocurrency market. But looking back now, this sentence may not be complete, But it's not that outrageous. 1、 Let's make one thing clear: the United States does not need to 'pay off' its debt In history, no superpower has ended its debt cycle by "seriously repaying debts". There are only three things that truly happen: Debt is consumed by time and inflation Currency is actively or passively devalued Assets are repriced And these three things have one thing in common: They don't need to be voted through in Congress. 2、 Why does the BTC path look like a 'fake action'? If the United States really wants to achieve it with BTC in one step: BTC must rise to millions of dollars per coin The market value of BTC held by the US government may mathematically approach the size of US Treasury bonds This road is too radical, too conspicuous, and too easy to lose control. A true old empire usually wouldn't choose this one. 3、 What really happens at the end of the year is more like a 'system level operation' BTC has not risen. But on the other side: Gold, silver, copper, platinum systematically strengthen The market value of silver once surpassed that of Apple Precious metals are redefined as' strategic resources' The United States has been repeatedly emphasized: Having the world's largest reserves of gold and key minerals At this point, you may ask another question: If the US dollar must depreciate, Which assets are most easily accepted for an increase in value? The answer has never been BTC. But rather: gold, silver, precious metals. 4、 The real script may be like this It's not about using gold to repay debts, But rather a more covert and effective process: one ️⃣ The long-term purchasing power of the US dollar is declining (but not collapsing) two ️⃣ Inflation is' tolerated 'or even tacitly allowed three ️⃣ Precious metal prices absorb currency and credit discounts four ️⃣ The natural inflation of the "hard asset side" in the US national balance sheet five ️⃣ The actual burden of debt is diluted Pay attention to this keyword: Actual burden. The nominal amount of debt remains unchanged, But the things it can buy are becoming increasingly scarce. 5、 What exactly is BTC in this system? BTC is not a tool for the first stage. It's more like: After the traditional hard assets are revalued, The 'young version of gold' that the system needs. The difference lies in: Gold: Credit Buffer at the National Level BTC: The Escape Channel for Global Private Capital That's also why BTC has to wait: Waiting for gold to make the macro narrative run smoothly Waiting for the US dollar credit to really loosen Wait for the risk release to be completed BTC is not rising now, On the contrary, it indicates that: It has not been 'allowed' to enter the main stage yet. 6、 The truly unsettling point is here If you connect these clues together, you will discover a very uncomfortable fact: Asset appreciation does not necessarily mean making money for you, But to keep a system alive. And in this process: Who holds hard assets first Who understands the order Who understands why BTC didn't rise first It has been decided that: You were carried away in the asset revaluation, Still buried. the last sentence Gold, silver, Bitcoin, Not a savior, But rather different parts in the debt toolbox. So, when you see precious metals move first, The real question is never: Why hasn't BTC risen yet? ” But rather—— What stage has the process reached