Wealthion - Be Financially Resilient

Francis Hunt | The Hidden Debasement: Why Gold Is the Only Real Unit of Account

Feb 25, 2026
Francis Hunt, founder of The Market Sniper and macro/markets commentator focused on precious metals and monetary debasement. He argues gold is the only true unit of account. Short takes on hidden currency debasement. Stocks and bonds measured in gold tell a different story. Bitcoin and stablecoins fail sovereignty tests. Big-money options signal possible huge moves in gold.
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INSIGHT

Stocks Look Different When Priced In Gold

  • Stocks and bonds can rally nominally while losing value when measured in gold, revealing a quietly deflating everything bubble.
  • Hunt compares the NASDAQ and Nikkei divided by gold to show relative valuation breakdowns and targets much lower ratios.
ADVICE

Overweight Gold For Capital Preservation

  • Overweight physical gold and consider silver/miners selectively as primary preservation assets.
  • Hunt calls gold the primary basis of account and suggests miners and silver as limited alpha plays.
INSIGHT

Bitcoin Is Underperforming Gold

  • Bitcoin is failing as a sovereign, low-cost digital gold when measured against gold ounces and is facing technical rejection.
  • Hunt cites multi-month declines, seller behavior, and lack of sufficient new money as reasons to doubt Bitcoin's role.
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