{"id":35732,"date":"2023-04-14T20:00:00","date_gmt":"2023-04-14T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=35732"},"modified":"2023-04-14T15:08:59","modified_gmt":"2023-04-14T06:08:59","slug":"%e9%87%91%e4%be%a1%e6%a0%bc%e9%ab%98%e9%a8%b0%e3%81%ae%e7%90%86%e7%94%b1%e3%81%a8%e4%bb%8a%e5%be%8c%e3%81%ae%e6%8e%a8%e7%a7%bb%e4%ba%88%e6%83%b3","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35732","title":{"rendered":"\u91d1\u4fa1\u683c\u9ad8\u9a30\u306e\u7406\u7531\u3068\u4eca\u5f8c\u306e\u63a8\u79fb\u4e88\u60f3"},"content":{"rendered":"\n<p 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href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png\" alt=\"\" class=\"wp-image-35735\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0b\u304c\u3063\u3066\u304b\u3089\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p 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class=\"wp-block-paragraph\">\u305d\u3057\u3066\u3082\u30461\u3064\u306f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u884c\u308f\u308c\u3066\u304a\u308a\u3001\u30a4\u30f3\u30d5\u30ec\uff08\u3082\u306e\u306e\u5024\u6bb5\u304c\u4e0a\u304c\u308b\u3053\u3068\uff09\u306f\u30b4\u30fc\u30eb\u30c9\u306e\u5024\u6bb5\u306b\u3082\u30d7\u30e9\u30b9\u306b\u306a\u308b\u306e\u3060\u304b\u3089\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u308b\u3068\u91d1\u4fa1\u683c\u3082\u6291\u3048\u3089\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304b\u3089\u91d1\u4fa1\u683c\u306f2022\u5e74\u6625\u306e\u9ad8\u5024\u304b\u308920%\u4ee5\u4e0a\u4e0b\u843d\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u91d1\u4fa1\u683c<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3057\u304b\u3057\u91d1\u4fa1\u683c\u306f\u79cb\u9803\u304b\u3089\u6025\u53cd\u767a\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u53bb\u5e74\u79cb\u306b\u4f55\u304c\u8d77\u3053\u3063\u305f\u304b\u3068\u8a00\u3048\u3070\u3001\u305d\u308c\u307e\u3067\u4e0a\u6607\u3092\u7d9a\u3051\u3066\u3044\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u6e1b\u901f\u3057\u59cb\u3081\u305f\u306e\u3067\u3042\u308b\u3002\u50b5\u5238\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3089\u306e\u4e88\u60f3\u901a\u308a\u3067\u3042\u308a\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4eca\u5f7c\u304c\u4e88\u60f3\u3057\u3066\u3044\u305f\u6c34\u6e96\u306b\u304b\u306a\u308a\u8fd1\u3065\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31892\" data-type=\"post\" data-id=\"31892\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u7387\u306f4.1%\u307e\u3067\u4e0b\u304c\u308a\u30a2\u30e1\u30ea\u30ab\u306f\u5229\u4e0a\u3052\u51fa\u6765\u306a\u304f\u306a\u308b (2022\/12\/16)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35697\" data-type=\"post\" data-id=\"35697\">3\u6708\u7c73\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u30b5\u30fc\u30d3\u30b9\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u6e1b\u901f\u3001\u7d4c\u6e08\u6025\u964d\u4e0b\u78ba\u5b9a\u3078 (2023\/4\/13)<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e0b\u304c\u308b\u3068\u4f55\u6545\u91d1\u4fa1\u683c\u304c\u6025\u53cd\u767a\u3059\u308b\u306e\u304b\uff1f\u3000\u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u306f\u91d1\u4fa1\u683c\u306b\u3068\u3063\u3066\u30de\u30a4\u30ca\u30b9\u3067\u306f\u306a\u304b\u3063\u305f\u306e\u304b\uff1f<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3053\u306b\u306f\u5b9f\u4f53\u7d4c\u6e08\u3068\u91d1\u878d\u5e02\u5834\u306e\u6642\u9593\u5dee\u304c\u3042\u308b\u3002\u5b9f\u4f53\u7d4c\u6e08\u306e\u5074\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u6e1b\u901f\u3059\u308b\u3068\u3001\u4e2d\u592e\u9280\u884c\u304c\u5f15\u304d\u7de0\u3081\u306e\u624b\u3092\u7de9\u3081\u308b\u305f\u3081\u91d1\u5229\u304c\u4e0b\u304c\u308a\u3001\u5c06\u6765\u7684\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u671f\u5f85\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u77ed\u671f\u306e\u30c7\u30d5\u30ec\u304c\u9577\u671f\u306e\u30a4\u30f3\u30d5\u30ec\u306b\u7e4b\u304c\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u304c\u9577\u671f\u7684\u306b\u3069\u3046\u306a\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u304c\u4eca\u306e\u91d1\u76f8\u5834\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3002\u305d\u3057\u3066\u7269\u4fa1\u9ad8\u9a30\u306e\u6642\u4ee3\u3067\u306f\u30011970\u5e74\u4ee3\u306b\u305d\u3046\u3060\u3063\u305f\u3088\u3046\u306b\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u4f55\u5ea6\u3082\u306e\u6ce2\u306b\u306a\u3063\u3066\u62bc\u3057\u5bc4\u305b\u3066\u304f\u308b\u3053\u3068\u304c\u61f8\u5ff5\u3055\u308c\u308b\u30021970\u5e74\u4ee3\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"489\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png\" alt=\"\" class=\"wp-image-18864\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png 489w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart-300x287.png 300w\" sizes=\"auto, (max-width: 489px) 100vw, 489px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3057\u3066\u4ee5\u4e0b\u304c\u4eca\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-mar-us-cpi-growth.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-mar-us-cpi-growth.png\" alt=\"\" class=\"wp-image-35699\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-mar-us-cpi-growth.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-mar-us-cpi-growth-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u76f8\u5834\u306e\u9577\u671f\u7684\u5c55\u671b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u5f8c\u30a4\u30f3\u30d5\u30ec\u306f\u3069\u3046\u306a\u308b\u306e\u304b\u3002\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u5c11\u306a\u304f\u3068\u3082\u91d1\u76f8\u5834\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3092\u60f3\u5b9a\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u5b9f\u969b\u3001\u591a\u304f\u306e\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3089\u304cFed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u3092\u3084\u308a\u9042\u3052\u3089\u308c\u308b\u3053\u3068\u3092\u7591\u3044\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3092\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/28683\" data-type=\"post\" data-id=\"28683\">\u30b8\u30e7\u30f3\u30fb\u30dd\u30fc\u30eb\u30bd\u30f3\u6c0f\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3067\u91d1\u4fa1\u683c\u9ad8\u9a30\u3092\u4e88\u60f3<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33781\" data-type=\"post\" data-id=\"33781\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u7d4c\u6e08\u6050\u614c\u304b\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3067\u7d4c\u6e08\u30ea\u30bb\u30c3\u30c8\u3001\u3069\u3061\u3089\u306b\u306a\u308b\u304b\uff1f<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30291\" data-type=\"post\" data-id=\"30291\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u7d4c\u6e08\u304c\u5f37\u3044\u6642\u306b\u5f15\u304d\u7de0\u3081\u3092\u7d9a\u3051\u308b\u306e\u306f\u7c21\u5358\u3060\u304c<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u3082\u305d\u3061\u3089\u304c\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3068\u601d\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u304c\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3060\u3068\u3059\u308c\u3070\u3001\u30b4\u30fc\u30eb\u30c9\u3092\u4e88\u3081\u8cb7\u3063\u3066\u304a\u304f\u3053\u3068\u306f\u6700\u5584\u624b\u3060\u308d\u3046\u3002\u3060\u304c\u30b4\u30fc\u30eb\u30c9\u306b\u306f\u61f8\u5ff5\u3082\u3042\u308b\u3002\u666f\u6c17\u5f8c\u9000\u3067\u682a\u5b89\u306b\u306a\u308b\u306a\u3089\u3070\u3001\u30ea\u30b9\u30af\u30aa\u30d5\u306f\u5b9f\u306f\u30b4\u30fc\u30eb\u30c9\u306b\u3068\u3063\u3066\u30de\u30a4\u30ca\u30b9\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f8b\u3048\u30702008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u6642\u306e\u91d1\u4fa1\u683c\u306e\u63a8\u79fb\u3092\u898b\u3066\u307f\u308b\u3068\u826f\u3044\u3002\u682a\u4fa1\u306e\u4e0b\u843d\u3068\u540c\u6642\u306b\u91d1\u4fa1\u683c\u3082\u4e0b\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4454\" data-type=\"post\" data-id=\"4454\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u6025\u843d\u3057\u305f\u91d1\u4fa1\u683c\u3001\u4e0a\u6607\u3057\u305f\u7c73\u56fd\u50b5<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3053\u3067\u7b46\u8005\u306f\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u3088\u308a\u306f\u3001\u91d1\u5229\u306e\u4f4e\u4e0b\u306b\u8ced\u3051\u308b\u3053\u3068\u306b\u3057\u305f\u3002\u91d1\u5229\u306e\u4f4e\u4e0b\u306f\u50b5\u5238\u4fa1\u683c\u306e\u4e0a\u6607\u3092\u610f\u5473\u3059\u308b\u306e\u3067\u30012\u5e74\u7269\u306e\u7c73\u56fd\u50b5\u3092\u8cb7\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u5f8c\u306e\u653f\u7b56\u91d1\u5229\u306e\u63a8\u79fb\u3092\u7e54\u308a\u8fbc\u3093\u3067\u52d5\u304f2\u5e74\u7269\u56fd\u50b5\u306e\u91d1\u5229\u306f\u3001\u6700\u8fd1\u306e\u30a4\u30f3\u30d5\u30ec\u6e1b\u901f\u306e\u305f\u3081\u306b\u4f4e\u4e0b\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-us-2-year-treasury-bond-yield-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-us-2-year-treasury-bond-yield-chart.png\" alt=\"\" class=\"wp-image-35754\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-us-2-year-treasury-bond-yield-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-us-2-year-treasury-bond-yield-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306e\u4e88\u60f3\u901a\u308a\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u3053\u306e\u30c8\u30ec\u30fc\u30c9\u3082\u5229\u76ca\u3092\u51fa\u3057\u3066\u304f\u308c\u3066\u3044\u308b\u306e\u3060\u304c\u3001\u53bb\u5e74\u5f8c\u534a\u304b\u3089\u306e\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306e\u65b9\u304c\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306e\u826f\u3044\u30c8\u30ec\u30fc\u30c9\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png\" alt=\"\" class=\"wp-image-35735\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-14-gold-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u91d1\u4fa1\u683c\u3068\u682a\u5f0f\u5e02\u5834<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f55\u6545\u305d\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u682a\u5f0f\u5e02\u5834\u304c\u307e\u3060\u305d\u308c\u307b\u3069\u4e0b\u304c\u3063\u3066\u3044\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3060\u304c\u305d\u308c\u306b\u3057\u3066\u3082\u91d1\u4fa1\u683c\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306f\u305a\u3070\u629c\u3051\u3066\u3044\u308b\u3002\u682a\u4fa1\u306f\u305d\u308c\u3067\u3082\u4e0b\u304c\u3063\u3066\u3044\u308b\u306e\u306b\u3001\u4f55\u6545\u91d1\u4fa1\u683c\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u304c\u3053\u3053\u307e\u3067\u826f\u3044\u306e\u304b\uff1f\u3000\u305d\u308c\u306f\u4f8b\u3048\u30701970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306e\u3046\u3061\u3001\u682a\u4fa1\u304c\u534a\u5206\u8fd1\u304f\u307e\u3067\u4e0b\u843d\u3057\u305f1973\u5e74\u304b\u30891974\u5e74\u306e\u91d1\u4fa1\u683c\u306e\u63a8\u79fb\u3092\u898b\u308c\u3070\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u307e\u305a\u306f\u5f53\u6642\u306e\u682a\u4fa1\u306e\u63a8\u79fb\u3092\u898b\u3066\u307f\u3088\u3046\u3002S&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"706\" height=\"550\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-24220\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart.png 706w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1973-1974-s-and-p-500-chart-300x234.png 300w\" sizes=\"auto, (max-width: 706px) 100vw, 706px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u4fa1\u306f\u305a\u3063\u3068\u4e0b\u843d\u57fa\u8abf\u3067\u306f\u3042\u308b\u304c\u3001\u6fc0\u3057\u304f\u4e0b\u843d\u3057\u305f\u306e\u306f1973\u5e74\u5f8c\u534a\u30681974\u5e74\u534a\u3070\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3057\u3066\u540c\u3058\u6642\u671f\u306e\u91d1\u4fa1\u683c\u3092\u898b\u3066\u307f\u308b\u3068\u3001\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/1973-1974-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"389\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/1973-1974-gold-chart.png\" alt=\"\" class=\"wp-image-35758\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/1973-1974-gold-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/1973-1974-gold-chart-300x189.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u4fa1\u304c\u6fc0\u3057\u304f\u4e0b\u843d\u3057\u305f\u671f\u9593\u306b\u3064\u3044\u3066\u306f\u91d1\u4fa1\u683c\u3082\u4e0b\u304c\u3063\u3066\u3044\u308b\u304c\u3001\u305d\u306e\u4ed6\u306e\u671f\u9593\u306f\u682a\u4fa1\u306e\u4e0b\u843d\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u4e0a\u304c\u3063\u3066\u304a\u308a\u3001\u5168\u4f53\u3092\u901a\u3057\u3066\u898b\u308c\u3070\u5927\u304d\u306a\u4e0a\u6607\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u7406\u7531\u306f\u3001\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u691c\u8a3c\u3057\u305f\u901a\u308a\u3001\u9577\u671f\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u671f\u9593\u306b\u304a\u3044\u3066\u306f\u8cb4\u91d1\u5c5e\u306e\u4fa1\u683c\u306f\u7269\u4fa1\u81ea\u4f53\u306e\u4e0a\u6607\u7387\u3092\u8d85\u3048\u3066\u30d0\u30d6\u30eb\u306b\u306a\u3063\u3066\u3086\u304f\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35411\" data-type=\"post\" data-id=\"35411\">1970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306b\u304a\u3051\u308b\u8cb4\u91d1\u5c5e\u3084\u8fb2\u4f5c\u7269\u306e\u4fa1\u683c\u63a8\u79fb<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u78ba\u304b\u306b\u30ea\u30b9\u30af\u30aa\u30d5\u3067\u91d1\u4fa1\u683c\u306f\u4e0b\u304c\u308b\u306e\u3060\u304c\u3001\u3053\u306e\u9577\u671f\u306e\u8cb4\u91d1\u5c5e\u30d0\u30d6\u30eb\u3068\u3044\u3046\u30c8\u30ec\u30f3\u30c9\u304c\u5f37\u3059\u304e\u308b\u305f\u3081\u3001\u671f\u9593\u5168\u4f53\u3067\u898b\u308c\u3070\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u3092\u7d99\u7d9a\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u73fe\u5728\u306e\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306e\u7406\u7531\u306f\u3053\u308c\u3067\u8aac\u660e\u3067\u304d\u305f\u3068\u601d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u308c\u3067\u30821970\u5e74\u4ee3\u306b\u305d\u3046\u3060\u3063\u305f\u3088\u3046\u306b\u3001\u666f\u6c17\u5f8c\u9000\u3067\u682a\u4fa1\u304c\u6025\u843d\u3059\u308c\u3070\u91d1\u4fa1\u683c\u306f\u4e00\u6642\u7684\u306b\u4e0b\u304c\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306f\u682a\u4fa1\u306e\u6025\u843d\u304c\u30d4\u30f3\u30dd\u30a4\u30f3\u30c8\u3067\u3044\u3064\u304b\u3092\u4e88\u60f3\u3059\u308b\u3053\u3068\u306f\u51fa\u6765\u306a\u3044\u3068\u8003\u3048\u305f\u305f\u3081\u3001\u3088\u308a\u5b89\u5168\u306a\u91d1\u5229\u4e88\u60f3\u306e\u30c8\u30ec\u30fc\u30c9\u306b\u884c\u3063\u305f\u304c\u3001\u7b46\u8005\u3089\u306e\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3067\u3042\u308b\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u306b\u3053\u306e\u307e\u307e\u5411\u304b\u3046\u306e\u3067\u3042\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u3067\u91d1\u4fa1\u683c\u9ad8\u9a30\u3068\u3044\u3046\u7d20\u6734\u306a\uff08\u3057\u304b\u3057\u975e\u5e38\u306b\u5f37\u529b\u306a\uff09\u30b7\u30ca\u30ea\u30aa\u3092\u4fe1\u983c\u3057\u3066\u30b4\u30fc\u30eb\u30c9\u306b\u8ced\u3051\u305f\u6295\u8cc7\u5bb6\u304c\u7d50\u5c40\u306f\u4e00\u756a\u306e\u52dd\u8005\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u3082\u4eee\u306b\u91d1\u4fa1\u683c\u304c\u77ed\u671f\u7684\u306b\u4e0b\u843d\u3059\u308b\u3053\u3068\u304c\u3042\u308c\u3070\u53c2\u5165\u3057\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u304c\u3001\u305d\u306e\u6a5f\u4f1a\u306b\u304a\u3044\u3066\u91d1\u4fa1\u683c\u304c\u4eca\u3088\u308a\u5b89\u304f\u306a\u308b\u304b\u3069\u3046\u304b\u306f\u5206\u304b\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u6642\u306b\u91d1\u4fa1\u683c\u304c\u9ad8\u5024\u306b\u884c\u3063\u3066\u3057\u307e\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u3088\u308a\u5206\u304c\u60aa\u3044\u304c\u5272\u5b89\u306b\u306a\u3063\u3066\u3044\u308b\u3068\u601d\u308f\u308c\u308b\u8fb2\u4f5c\u7269\u306e\u65b9\u306b\u884c\u304f\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/32391\" data-type=\"post\" data-id=\"32391\">2023\u5e74\u306f\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e95\u5024\u8cb7\u3044\u306e\u5e74: \u539f\u6cb9\u3001\u5929\u7136\u30ac\u30b9\u3001\u8fb2\u4f5c\u7269\u3001\u91d1\u76f8\u5834\u306e\u63a8\u79fb\u4e88\u60f3<\/a><\/li>\n<\/ul>\n\n\n\n<p 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