{"id":63694,"date":"2025-04-17T20:00:00","date_gmt":"2025-04-17T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=63694"},"modified":"2025-04-17T15:01:27","modified_gmt":"2025-04-17T06:01:27","slug":"%e3%83%95%e3%82%a9%e3%83%b3%e3%83%bb%e3%82%b0%e3%83%a9%e3%82%a4%e3%82%a2%e3%83%bc%e3%83%84%e6%b0%8f-%e6%a0%aa%e4%be%a1%e6%9a%b4%e8%90%bd%e3%81%a7%e3%82%82%e6%9a%b4%e9%a8%b0%e3%81%97%e3%81%a6%e3%81%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63694","title":{"rendered":"\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u682a\u4fa1\u66b4\u843d\u3067\u3082\u66b4\u9a30\u3057\u3066\u3044\u308b\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u308a\u7d9a\u3051\u308b"},"content":{"rendered":"\n<p>Von Greyerz\u306e\u30a8\u30b4\u30f3\u30fb\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u304c\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u682a\u4fa1\u4e0b\u843d\u3068\u91d1\u76f8\u5834\u306e\u95a2\u4fc2\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u682a\u5b89\u3068\u91d1\u4fa1\u683c\u4e0a\u6607<\/strong><\/p>\n\n\n\n<p>\u7c73\u56fd\u682a\u3092\u4e2d\u5fc3\u3068\u3059\u308b\u682a\u5f0f\u5e02\u5834\u306e\u4e0b\u843d\u306e\u88cf\u3067\u3001\u30b4\u30fc\u30eb\u30c9\u306e\u4e0a\u6607\u304c\u6b62\u307e\u3089\u306a\u3044\u3002\u91d1\u4fa1\u683c\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\/2025\/04\/2025-4-17-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"599\" height=\"504\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart.png\" alt=\"\" class=\"wp-image-63701\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart-300x252.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u30b4\u30fc\u30eb\u30c9\u306e\u6025\u4e0a\u6607\u306f\u3001\u682a\u5f0f\u5e02\u5834\u306e\u66b4\u843d\u3068\u7121\u95a2\u4fc2\u3067\u306f\u306a\u3044\u3002\u540c\u3058\u304fVon Greyerz\u306e\u30b8\u30e7\u30cb\u30fc\u30fb\u30d8\u30a4\u30b3\u30c3\u30af\u6c0f\u304c\u4e8b\u524d\u306b\u4e88\u60f3\u3057\u3066\u3044\u305f\u3001\u682a\u5f0f\u3084\u56fd\u50b5\u304b\u3089\u30b4\u30fc\u30eb\u30c9\u3078\u306e\u8cc7\u91d1\u9003\u907f\u304c\u8d77\u304d\u3066\u3044\u308b\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\/60550\" data-type=\"post\" data-id=\"60550\">\u30d8\u30a4\u30b3\u30c3\u30af\u6c0f: \u682a\u5f0f\u306f\u58f2\u308a\u6642\u3001\u682a\u5f0f\u304b\u3089\u30b4\u30fc\u30eb\u30c9\u3078\u306e\u8cc7\u7523\u9003\u907f\u304c\u59cb\u307e\u308b (2025\/3\/2)<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>2\u3064\u306e\u7570\u5e38\u4e8b\u614b<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u682a\u4fa1\u306e\u4e0b\u843d\u306b\u3088\u3063\u3066\u56fd\u50b5\u304b\u3089\u30b4\u30fc\u30eb\u30c9\u3078\u306e\u8cc7\u91d1\u9003\u907f\u304c\u8d77\u304d\u3066\u3044\u308b\u3053\u3068\u306f\u3001\u4e8c\u91cd\u306e\u610f\u5473\u3067\u7570\u5e38\u3067\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u30012008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u3082\u305d\u3046\u3060\u3063\u305f\u3088\u3046\u306b\u3001\u682a\u5f0f\u306e\u4e0b\u843d\u76f8\u5834\u3067\u306f\u30b4\u30fc\u30eb\u30c9\u3082\u4e0b\u304c\u308a\u3001\u56fd\u50b5\u306f\u8cb7\u308f\u308c\u308b\u306e\u304c\u666e\u901a\u3060\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\/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>\u682a\u5b89\u3067\u7c73\u56fd\u50b5\u304c\u4e0b\u843d\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u7570\u5e38\u4e8b\u614b\u3067\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u3064\u3044\u3066\u306f\u3001\u65e2\u306b\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8a73\u3057\u304f\u8aac\u660e\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\/63500\" data-type=\"post\" data-id=\"63500\">\u30c9\u30eb\u4e0b\u843d\u306b\u3088\u308b\u91d1\u5229\u4e0a\u6607\u3067\u682a\u4fa1\u66b4\u843d\u306f\u672c\u7269\u306e\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u306b\u8fd1\u3044\u72b6\u6cc1\u306b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63647\" data-type=\"post\" data-id=\"63647\">\u682a\u5f0f\u5e02\u5834\u66b4\u843d\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u3053\u308c\u304b\u3089\u4f55\u5ea6\u3067\u3082\u7c73\u56fd\u50b5\u4e0b\u843d\u306b\u8105\u3055\u308c\u7d9a\u3051\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u4eca\u56de\u306e\u8a18\u4e8b\u3067\u306f\u3082\u30461\u3064\u306e\u7570\u5e38\u4e8b\u614b\u3001\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u3064\u3044\u3066\u66f8\u3044\u3066\u307f\u305f\u3044\u3002<\/p>\n\n\n\n<p><strong>\u682a\u5b89\u3068\u91d1\u76f8\u5834<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u304c\u6301\u3061\u51fa\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u3084\u306f\u308a2008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u6642\u306b\u30b4\u30fc\u30eb\u30c9\u304c\u3069\u306e\u3088\u3046\u306b\u52d5\u3044\u305f\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u8ab0\u3082\u304c2008\u5e74\u306e\u91d1\u4fa1\u683c\u306e\u4e0b\u843d\u3092\u6050\u308c\u305f\u3002\u305d\u308c\u306f\u304b\u306a\u308a\u5927\u304d\u306a\u4e0b\u843d\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>2008\u5e74\u306b\u4e16\u754c\u4e2d\u306e\u5e02\u5834\u3001\u7279\u306b\u682a\u5f0f\u5e02\u5834\u304c\u4e0b\u843d\u3057\u305f\u3068\u304d\u3001\u91d1\u4fa1\u683c\u3082\u78ba\u304b6\u30f6\u6708\u307b\u3069\u3060\u3063\u305f\u3068\u601d\u3046\u304c\u540c\u3058\u3088\u3046\u306b\u4e0b\u304c\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b4\u30fc\u30eb\u30c9\u306f\u5b89\u5168\u8cc7\u7523\u3060\u3068\u8a00\u308f\u308c\u3066\u3044\u308b\u304c\u3001\u682a\u5b89\u306e\u72b6\u6cc1\u4e0b\u3067\u306f\u666e\u901a\u306f\u4e0b\u843d\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u7406\u8ad6\u7684\u7406\u5c48\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u66f8\u3044\u3066\u304a\u3044\u305f\u306e\u3067\u3001\u3053\u3053\u3067\u306f\u7e70\u308a\u8fd4\u3055\u306a\u3044\u3002\u554f\u984c\u306f\u30012025\u5e74\u306e\u682a\u5b89\u3067\u306f\u305d\u3046\u306f\u306a\u3063\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\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>\u6700\u521d\u306b\u66f8\u3044\u305f\u901a\u308a\u3001\u4eca\u56de\u306e\u682a\u4fa1\u4e0b\u843d\u3067\u306f\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3002\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3060\u304c\u4eca\u56de\u306f\u9055\u3046\u3002<\/p>\n\n\n\n<p>\u682a\u4fa1\u304c\u843d\u3061\u3066\u3082\u91d1\u4fa1\u683c\u306f\u4e0b\u304c\u3089\u306a\u3044\u3002\u4e16\u754c\u60c5\u52e2\u304c\u5f53\u6642\u3068\u306f\u9055\u3046\u305f\u3081\u3001\u30b4\u30fc\u30eb\u30c9\u3082\u9055\u3046\u72b6\u6cc1\u306b\u7f6e\u304b\u308c\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u91d1\u4fa1\u683c\u3068\u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u5f53\u6642\u3068\u4eca\u3067\u306f\u3069\u3046\u72b6\u6cc1\u304c\u9055\u3046\u306e\u304b\u3002\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>2008\u5e74\u306b\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u5e9c\u50b5\u52d9\u306f\u6050\u3089\u304f9\u5146\u30c9\u30eb\u7a0b\u5ea6\u3060\u3063\u305f\u3068\u601d\u3046\u3002\u4eca\u3067\u306f\u3069\u3046\u3060\uff1f\u300036\u5146\u30c9\u30eb\u3092\u8d85\u3048\u306637\u5146\u30c9\u30eb\u306b\u9054\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u4eca\u5f8c\u6570\u5e74\u3067\u8ca1\u653f\u8d64\u5b57\u306f1\u5146\u30c9\u30eb\u306b\u306f\u7559\u307e\u3089\u306a\u3044\u3060\u308d\u3046\u30022\u5146\u30c9\u30eb\u30013\u5146\u30c9\u30eb\u30014\u5146\u30c9\u30eb\u306b\u306a\u308a\u3001\u653f\u5e9c\u50b5\u52d9\u306f\u6307\u6570\u95a2\u6570\u7684\u306b\u5897\u6b96\u3059\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u30b3\u30ed\u30ca\u5f8c\u306e\u91d1\u5229\u4e0a\u6607\u3067\u3001\u81a8\u5927\u306a\u653f\u5e9c\u50b5\u52d9\u306b\u591a\u984d\u306e\u5229\u6255\u3044\u304c\u751f\u3058\u3066\u304a\u308a\u3001\u305d\u308c\u3092\u56fd\u50b5\u306e\u65b0\u898f\u767a\u884c\u3067\u8fd4\u3057\u7d9a\u3051\u308b\u9650\u308a\u3001\u7c73\u56fd\u50b5\u3068\u305d\u306e\u5229\u6255\u3044\u306f\u306d\u305a\u307f\u7b97\u5f0f\u306b\u5897\u3048\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u7279\u306b\u4eca\u5e74\u306f\u6e80\u671f\u3068\u306a\u308b\u7c73\u56fd\u50b5\u304c\u591a\u304f\u3001\u91d1\u5229\u304c1%\u4ee5\u4e0b\u3060\u3063\u305f\u9803\u306b\u767a\u884c\u3055\u308c\u3066\u3044\u305f\u56fd\u50b5\u304c\u91d1\u52294%\u306e\u65b0\u305f\u306a\u56fd\u50b5\u3067\u7f6e\u304d\u63db\u3048\u3089\u308c\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u3068\u8ca1\u653f\u8d64\u5b57<\/strong><\/p>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u304c\u30a4\u30fc\u30ed\u30f3\u30fb\u30de\u30b9\u30af\u6c0f\u306eDOGE\uff08\u653f\u5e9c\u52b9\u7387\u5316\u7701\uff09\u306b\u3088\u308b\u652f\u51fa\u524a\u6e1b\u3068\u95a2\u7a0e\u653f\u7b56\u306b\u3053\u3060\u308f\u3063\u3066\u3044\u305f\u306e\u306f\u3001\u307e\u3055\u306b\u305d\u308c\u304c\u7406\u7531\u3067\u3042\u308b\u3002\u305d\u308c\u3089\u306f\u3068\u3082\u306b\u8ca1\u653f\u8d64\u5b57\u3092\u6e1b\u3089\u3059\u305f\u3081\u306e\u653f\u7b56\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u8ca1\u653f\u8d64\u5b57\u3053\u305d\u304c\u9577\u5e74\u682a\u4fa1\u3092\u652f\u3048\u3066\u3044\u305f\u306e\u3060\u304b\u3089\u3001\u305d\u306e\u3070\u3089\u6492\u304d\u3092\u6291\u5236\u3059\u308c\u3070\u682a\u4fa1\u306f\u4e0b\u304c\u308b\u3002\u305d\u3057\u3066\u4eca\u56de\u3001\u682a\u4fa1\u3068\u3068\u3082\u306b\u30c9\u30eb\u3082\u4e0b\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306b\u3068\u3063\u3066\u81f4\u547d\u7684\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30c9\u30eb\u306e\u4e0b\u843d\u306b\u8010\u3048\u3089\u308c\u306a\u304f\u306a\u3063\u305f\u30a2\u30e1\u30ea\u30ab\u56fd\u5916\u306e\u7c73\u56fd\u50b5\u306e\u4fdd\u6709\u8005\u304c\u3001\u7c73\u56fd\u50b5\u3092\u640d\u5207\u308a\u3057\u59cb\u3081\u305f\u304b\u3089\u3067\u3042\u308b\u3002\u305d\u308c\u304c\u7c73\u56fd\u50b5\u3092\u4e0b\u843d\u3055\u305b\u3001\u91d1\u5229\u4e0a\u6607\u3092\u3082\u305f\u3089\u3057\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u95a2\u7a0e\u306e\u5ef6\u671f\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/63647\" data-type=\"post\" data-id=\"63647\">\u682a\u5f0f\u5e02\u5834\u66b4\u843d\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u3053\u308c\u304b\u3089\u4f55\u5ea6\u3067\u3082\u7c73\u56fd\u50b5\u4e0b\u843d\u306b\u8105\u3055\u308c\u7d9a\u3051\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u50b5\u52d9\u8ca0\u62c5\u306e\u6e1b\u5c11\u306e\u305f\u3081\u306b\u8ca1\u653f\u8d64\u5b57\u3092\u524a\u6e1b\u3057\u3066\u3044\u305f\u306e\u306b\u3001\u8d64\u5b57\u524a\u6e1b\u304c\u91d1\u5229\u4e0a\u6607\u306b\u7e4b\u304c\u308a\u5229\u6255\u3044\u304c\u5897\u3048\u3066\u3057\u307e\u3063\u3066\u306f\u672c\u672b\u8ee2\u5012\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u8a70\u3093\u3067\u3044\u308b\u30c9\u30eb\u5efa\u3066\u8cc7\u7523<\/strong><\/p>\n\n\n\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u8ca1\u653f\u8d64\u5b57\u3092\u5897\u3084\u3057\u3066\u3082\u6e1b\u3089\u3057\u3066\u3082\u501f\u91d1\u304c\u5897\u3048\u3066\u3086\u304f\u72b6\u6cc1\u306b\u8ffd\u3044\u8a70\u3081\u3089\u308c\u3066\u3044\u308b\u3002\u7c73\u56fd\u50b5\u306f\u5b8c\u5168\u306b\u8a70\u3093\u3067\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u304c\u91d1\u76f8\u5834\u3068\u3069\u306e\u3088\u3046\u306a\u95a2\u4fc2\u304c\u3042\u308b\u304b\uff1f\u30001945\u5e74\u306b\u7b2c2\u6b21\u4e16\u754c\u5927\u6226\u304c\u7d42\u308f\u3063\u3066\u4ee5\u6765\u3001\u4e16\u754c\u4e2d\u306e\u56fd\u3005\u304c\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u3092\u9810\u91d1\u306e\u4ee3\u308f\u308a\u306b\u3057\u3066\u304d\u305f\u3002\u305d\u308c\u304c\u30c9\u30eb\u304c\u57fa\u8ef8\u901a\u8ca8\u3067\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u306e\u610f\u5473\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u304c\u8a70\u3093\u3067\u3044\u308c\u3070\u3001\u7c73\u56fd\u50b5\u306e\u4fdd\u6709\u8005\u306f\u3069\u3046\u3059\u308b\u304b\uff1f\u3000\u7c73\u56fd\u50b5\u3092\u6295\u3052\u58f2\u308a\u3057\u3066\u30b4\u30fc\u30eb\u30c9\u3092\u8cb7\u3046\u3057\u304b\u306a\u3044\u3002\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u65e9\u304f\u30822022\u5e74\u304b\u3089\u4e88\u60f3\u3057\u3066\u304d\u305f\u30b7\u30ca\u30ea\u30aa\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18576\" data-type=\"post\" data-id=\"18576\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u91d1\u878d\u8cc7\u7523\u304b\u3089\u73fe\u7269\u8cc7\u7523\u3078\u306e\u6012\u6d9b\u306e\u8cc7\u91d1\u9003\u907f\u304c\u8d77\u3053\u308b\u53ef\u80fd\u6027 (2022\/1\/12)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30c9\u30eb\u3068\u7c73\u56fd\u50b5\u3068\u7c73\u56fd\u682a\u304c\u4e0b\u304c\u308a\u3001\u305d\u306e\u8cc7\u91d1\u304c\u30b4\u30fc\u30eb\u30c9\u306b\u96c6\u4e2d\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u305d\u308c\u304c\u91d1\u4fa1\u683c\u306e\u6012\u6d9b\u306e\u4e0a\u6607\u3092\u751f\u307f\u51fa\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\/2025\/04\/2025-4-17-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"599\" height=\"504\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart.png\" alt=\"\" class=\"wp-image-63701\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart.png 599w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/04\/2025-4-17-gold-chart-300x252.png 300w\" sizes=\"auto, (max-width: 599px) 100vw, 599px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306e\u76ee\u6307\u3059\u8ca1\u653f\u8d64\u5b57\u306e\u7e2e\u5c0f\u3067\u3055\u3048\u7c73\u56fd\u50b5\u306e\u4e0b\u843d\u3092\u6b62\u3081\u3089\u308c\u306a\u3044\u3069\u3053\u308d\u304b\u3001\u7c73\u56fd\u50b5\u3092\u4e0b\u843d\u3055\u305b\u3066\u3057\u307e\u3046\u306e\u3067\u3042\u308c\u3070\u3001\u6700\u7d42\u7684\u306b\u306f\u30a2\u30e1\u30ea\u30ab\u306f\u4e2d\u592e\u9280\u884c\u306e\u7d19\u5e63\u5370\u5237\u3067\u7c73\u56fd\u50b5\u3092\u6551\u6e08\u3059\u308b\u3057\u304b\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u304c\u30b4\u30fc\u30eb\u30c9\u3092\u66f4\u306b\u62bc\u3057\u4e0a\u3052\u308b\u3060\u308d\u3046\u3002\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u5b9f\u4f53\u7d4c\u6e08\u306f\u6e1b\u901f\u3057\u3001\u7a0e\u53ce\u306f\u5927\u304d\u304f\u6e1b\u5c11\u3059\u308b\u3002\u9280\u884c\u306a\u3069\u304c\u3069\u3093\u3069\u3093\u6551\u6e08\u3055\u308c\u308b\u3002\u3053\u308c\u307e\u3067\u306b\u306a\u3044\u898f\u6a21\u3067\u7d19\u5e63\u5370\u5237\u304c\u884c\u308f\u308c\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3001\u8ca1\u653f\u8d64\u5b57\u306f\u5897\u3048\u3001\u50b5\u52d9\u306f\u5897\u52a0\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u91d1\u4fa1\u683c\u306f\u4e0b\u304c\u3089\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u53bb\u5e74\u5f8c\u534a\u304b\u3089\u3053\u3053\u3067\u306f\u305a\u3063\u3068\u4f55\u5ea6\u3082\u30b4\u30fc\u30eb\u30c9\u306b\u3064\u3044\u3066\u306e\u8a18\u4e8b\u3092\u66f8\u304d\u7d9a\u3051\u3066\u304d\u305f\u304c\u3001\u3053\u306e\u4e0a\u6607\u3067\u305d\u306e\u7406\u7531\u304c\u5206\u304b\u3063\u3066\u3082\u3089\u3048\u305f\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/55940\" data-type=\"post\" data-id=\"55940\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u3067\u3082\u30c7\u30d5\u30ec\u3067\u3082\u91d1\u4fa1\u683c\u306f\u4e0a\u6607\u3059\u308b (2024\/11\/4)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/57960\" data-type=\"post\" data-id=\"57960\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f: \u4eba\u3005\u304c\u81ea\u56fd\u901a\u8ca8\u306e\u7121\u4fa1\u5024\u3055\u306b\u6c17\u4ed8\u304f\u306b\u3064\u308c\u3066\u30b4\u30fc\u30eb\u30c9\u3084\u30b7\u30eb\u30d0\u30fc\u3078\u306e\u9003\u907f\u304c\u52a0\u901f\u3059\u308b (2025\/1\/3)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/60550\" data-type=\"post\" data-id=\"60550\">\u30d8\u30a4\u30b3\u30c3\u30af\u6c0f: \u682a\u5f0f\u306f\u58f2\u308a\u6642\u3001\u682a\u5f0f\u304b\u3089\u30b4\u30fc\u30eb\u30c9\u3078\u306e\u8cc7\u7523\u9003\u907f\u304c\u59cb\u307e\u308b (2025\/3\/2)<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u306e\u80cc\u666f\u306b\u3042\u308b\u306e\u306f\u3001\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u8457\u66f8\u300e<a href=\"https:\/\/amzn.to\/3IWcV1T\" target=\"_blank\" rel=\"noreferrer 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rel=\"noreferrer noopener\">\u4e16\u754c\u79e9\u5e8f\u306e\u5909\u5316\u306b\u5bfe\u51e6\u3059\u308b\u305f\u3081\u306e\u539f\u5247<\/a>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Von 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