Gold just hit another all-time high, and strategists are calling this the return of the 'great debasement trade.' Here's what that means: as central banks keep printing money and inflation stays elevated, traditional safe-haven assets like gold become the go-to hedge. This isn't just about precious metals—it's a signal that markets are pricing in serious currency devaluation ahead. When gold rallies like this, it usually means investors are losing faith in fiat currencies. That's the same sentiment that fuels alternative assets, whether it's commodities, hard assets, or even crypto. The playbook is old but effective: when the monetary system gets stressed, people move into things that can't be printed. Gold's breakout could be telling us something about where markets expect capital flows to head next.