The nomination of Kevin Warsh to lead the Federal Reserve will not derail the global “debasement trade,” as mounting public debt makes the monetization of U.S. fiscal deficits inevitable. Fiscal Reality Despite the “bone-jarring” Friday crash that saw silver plunge 26% and gold drop 9%, the fundamental drivers of the precious metals rally remain unchallenged. According to economist Robin Brooks, the market's search for safe havens is fueled by a fiscal trajectory that no single personnel change can fix. ...