StoneX macro director: bitcoin and gold hedge currency debasement

• —Deluard: US interest, defense and social spending grew 9–10% a year
• —US income tax collection growth slowed from 8–9% to 4–5%
• —French bond spread over Germany widened from 30 bps to nearly 150 bps
• —France's debt is about 120% of GDP with a 5.5% deficit