TBH WGing have totally bodged the silver economy.

Adding Coal, Steel, and event-specific currencies makes credits less useful, and thus paradoxically leads to greater inflation.  An obvious demonstration of this is how unspent event-tokens turn into excess credits when an event ends.  Collection items from loot-boxes and the rewards they give add a tertiary "currency" to the game which further complicates this.
A currency can't act as a sink if you can't spend it freely!
This is compounded by the clan-port economy bonuses which increase the inflationary pressure on those currencies.

The in-game credit-sinks are all bypassed by give-aways:
Signal Flags get given away for in-game achievements, from containers and super-containers, from daily missions, from events, etc, etc.
Early on in the game a sizeable proportion of my low-tier income went on the for-credits camos; now I've got a page FULL of event camos building faster than I can burn through them.
Hell, WGing are even planning to get rid of Premium Consumables - one of the main credit-sinks still in the game!  What's the stack of premium consumables I've amassed from doing different missions and Yammy legendary module grind going to do for me then?  Do I get a refund, because that's more credits going out of sinks and into my pocket if they do!
They give away premium ships as event rewards / for event tokens, which generate - yep - more silver and cost less silver to float.

The in-game credit sinks are all negated by premium bloat:  I didn't want Siren camo with my Azur Lane captains pack, I'd rather have saved IRL money, or else had gold – but if you're going to force me to spend IRL money / gold on camo I don't want, I'm sure as hell not going to be sinking credits on non-premium camos.  Ditto for receiving stacks of flags.
Oh, you got a WOWS premium account?  Here's 10% more silver than you get with a WGing premium account - which we've got to give with one hand, and then take with another because it causes inflation.
Here, spend money on a perma-camo, you'll save a load of silver which we've got to pull right back out of the game again because it's inflationary.

You can buy credits for IRL money, and convert Gold to credits as an indirect extension of this.
When you're literally offering a store-feature that converts IRL money into credits (and indeed, doubloons that convert into cash as well) it's a [edited] move to then introduce economy-sinks to devalue that end-currency because you've introduced a million other forms of inflation.

Potential in-game credit sinks have instead been monetised:
Respeccing your CO?  Could take silver out of the game, instead it takes gold - and even that's bypassed by doing a clanwars battle.
Moved your CO to a new boat?  Well, you could spend 200k silver and still have a grind - or you could just spend gold and have no grind.  Could easily have it so that retraining a CO to 100% cost significantly more silver proportional to tier.
Want to boost your XP / CO grind with a special camo?  Could take silver out of the game, instead it costs gold.
Want to burn off some of that ship-XP you've got doing nothing on your elites?  That could burn off a load of credits, but instead it costs a ton of gold.

Makes me wonder if WGing are ignorant of what they're doing and are "indian giving" out of desperation, or if they've intentionally muddied the economy to confuse players into accepting ever more watered down and obfuscated promotions.