Part 5/17:
Alden notes the historical context of yield curve control, most recently employed in the 1940s, and highlights the noticeable trend of central banks attempting to stabilize yields to shield governments from soaring debt costs. If yields continue to rise, the environment could become more inflationary, impacting commodities, gold, and cryptocurrencies—particularly Bitcoin—if markets react as they often do during prolonged periods of monetary easing and negative real yields.