{"id":67652,"date":"2025-07-08T20:00:00","date_gmt":"2025-07-08T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=67652"},"modified":"2025-07-09T15:47:15","modified_gmt":"2025-07-09T06:47:15","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-%e9%87%91%e4%be%a1%e6%a0%bc%e3%81%af%e3%83%89%e3%83%ab%e7%b4%99%e5%b9%a3%e3%81%8c%e5%ae%8c%e5%85%a8","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/67652","title":{"rendered":"\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u91d1\u4fa1\u683c\u306f\u30c9\u30eb\u7d19\u5e63\u304c\u5b8c\u5168\u306b\u4fa1\u5024\u3092\u5931\u3046\u307e\u3067\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\u3001\u3053\u30532\u5e74\u307b\u3069\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u30b4\u30fc\u30eb\u30c9\u306e\u9577\u671f\u7684\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u91d1\u4fa1\u683c\u306e\u4e0a\u6607<\/strong><\/p>\n\n\n\n<p>\u65e5\u672c\u3067\u306f\u3001\u591a\u304f\u306e\u6295\u8cc7\u5bb6\u306f\u7c73\u56fd\u682a\u306b\u76ee\u3092\u5411\u3051\u3066\u3044\u308b\u306e\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u3053\u3053\u306e\u3068\u3053\u308d\u7c73\u56fd\u682a\u3088\u308a\u3082\u9065\u304b\u306b\u5927\u304d\u304f\u4e0a\u304c\u3063\u3066\u3044\u308b\u8cc7\u7523\u304c\u3042\u308b\u3002\u30b4\u30fc\u30eb\u30c9\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u91d1\u4fa1\u683c\u306f\u3053\u30532\u5e74\u306750%\u4ee5\u4e0a\u4e0a\u304c\u3063\u305f\u3002\u30b3\u30ed\u30ca\u524d\u304b\u3089\u306f2\u500d\u4ee5\u4e0a\u306b\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u7406\u7531\u306f\u4f55\u3060\u308d\u3046\u304b\uff1f\u3000\u6226\u4e89\u304c\u5897\u3048\u3066\u3044\u308b\u3053\u3068\u304c\u5b89\u5168\u8cc7\u7523\u3068\u8a00\u308f\u308c\u308b\u30b4\u30fc\u30eb\u30c9\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u306b\u7e4b\u304c\u3063\u3066\u3044\u308b\u306e\u3060\u3068\u8a00\u3046\u4eba\u3082\u5c45\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\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>\u91d1\u76f8\u5834\u306f\u30a4\u30e9\u30f3\u653b\u6483\u3084\u30a6\u30af\u30e9\u30a4\u30ca\u6226\u4e89\u306e\u3088\u3046\u306a\u3001\u91d1\u878d\u5e02\u5834\u306e\u77ed\u671f\u7684\u306a\u30a4\u30d9\u30f3\u30c8\u306b\u3088\u3063\u3066\u4e0a\u6607\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u305310\u65e5\u307b\u3069\u3067\u30a4\u30e9\u30f3\u306b\u591a\u304f\u306e\u7206\u5f3e\u304c\u843d\u3068\u3055\u308c\u305f\u304c\u3001\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u3063\u3066\u3044\u306a\u3044\u3002\u3080\u3057\u308d\u5c11\u3057\u4e0b\u304c\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6226\u4e89\u306f\u6050\u3089\u304f\u91d1\u76f8\u5834\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u3066\u3044\u308b\u3060\u308d\u3046\u3002\u3060\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u304c\u30a4\u30e9\u30f3\u3092\u653b\u6483\u3059\u308b\u304b\u3069\u3046\u304b\u3068\u304b\u3001\u30a4\u30e9\u30f3\u304c\u53cd\u6483\u3059\u308b\u304b\u3069\u3046\u304b\u3068\u304b\u3001\u305d\u3046\u3044\u3046\u77ed\u671f\u7684\u306a\u52d5\u5411\u3092\u53cd\u6620\u3057\u3066\u30b4\u30fc\u30eb\u30c9\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u304c\u6226\u4e89\u306b\u95a2\u308f\u308b\u59ff\u3092\u898b\u3066\u3001\u4ed6\u306e\u56fd\u3005\u304c\u30c9\u30eb\u306e\u4fdd\u6709\u3092\u6e1b\u3089\u305d\u3046\u3068\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u306f\u3042\u308b\u3060\u308d\u3046\u3002\u30c9\u30eb\u3092\u6301\u3063\u3066\u3044\u308c\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u90fd\u5408\u3067\u7d4c\u6e08\u5236\u88c1\u3092\u53d7\u3051\u304b\u306d\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002\u305d\u3053\u307e\u3067\u3057\u3066\u30c9\u30eb\u3092\u4fdd\u6709\u3059\u308b\u7406\u7531\u304c\u3001\u307b\u3068\u3093\u3069\u306e\u56fd\u306b\u3042\u308b\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\/44262\" data-type=\"post\" data-id=\"44262\">\u30d7\u30fc\u30c1\u30f3\u5927\u7d71\u9818: \u30c9\u30eb\u3092\u4f7f\u3063\u305f\u7d4c\u6e08\u5236\u88c1\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u81ea\u6bba\u884c\u70ba<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u3001\u305d\u306e\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u306f\u30a4\u30e9\u30f3\u3084\u30a6\u30af\u30e9\u30a4\u30ca\u306a\u3069\u306e\u500b\u3005\u306e\u30a4\u30d9\u30f3\u30c8\u306e\u52d5\u5411\u306b\u3088\u3063\u3066\u5909\u308f\u308b\u3082\u306e\u3067\u306f\u306a\u3044\u3002\u305d\u308c\u306f\u3001\u30b9\u30b3\u30c3\u30c8\u30fb\u30d9\u30c3\u30bb\u30f3\u30c8\u8ca1\u52d9\u9577\u5b98\u304c\u8a00\u3046\u3088\u3046\u306b\u3001\u3080\u3057\u308d\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u554f\u984c\u3068\u30ea\u30f3\u30af\u3057\u3066\u3044\u308b\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/56835\" data-type=\"post\" data-id=\"56835\">\u30d9\u30c3\u30bb\u30f3\u30c8\u6c0f: \u7c73\u56fd\u306e\u50b5\u52d9\u554f\u984c\u306b\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u8987\u6a29\u304c\u304b\u304b\u3063\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u4e2d\u592e\u9280\u884c\u3068\u30b4\u30fc\u30eb\u30c9<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u306f\u3082\u3063\u3068\u5927\u304d\u306a\u7406\u7531\u304c\u3042\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>\u30b4\u30fc\u30eb\u30c9\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u7406\u7531\u306f\u3001\u4e2d\u592e\u9280\u884c\u3084\u3001\u6d88\u8cbb\u8005\u3084\u4f01\u696d\u306e\u8ca0\u50b5\u3092\u5897\u52a0\u3055\u305b\u3066\u3044\u308b\u4ed6\u306e\u9280\u884c\u306b\u3088\u3063\u3066\u3001\u7d19\u5e63\u306e\u4fa1\u5024\u304c\u7834\u58ca\u3055\u308c\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<p>\u30b4\u30fc\u30eb\u30c9\u306f\u7d42\u672b\u8ad6\u8005\u306e\u305f\u3081\u306e\u6295\u8cc7\u3067\u306f\u306a\u3044\u3002\u4e2d\u592e\u9280\u884c\u3068\u653f\u5e9c\u304c\u8ca0\u50b5\u3092\u5897\u3084\u3057\u7d9a\u3051\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u7d19\u5e63\u306e\u4fa1\u5024\u3092\u4e0b\u843d\u3055\u305b\u308b\u3053\u3068\u306b\u5bfe\u3057\u3001\u81ea\u5206\u306e\u8cc7\u7523\u3092\u5b88\u308b\u305f\u3081\u306e\u6295\u8cc7\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u6b74\u53f2\u4e0a\u3001\u3042\u3089\u3086\u308b\u901a\u8ca8\u306f\u4e2d\u592e\u9280\u884c\u306b\u3088\u3063\u3066\u4fa1\u5024\u3092\u4e0b\u843d\u3055\u305b\u3089\u308c\u3066\u304d\u305f\u3002\u305d\u308c\u306f\u91d1\u8ca8\u3084\u9280\u8ca8\u306e\u3088\u3046\u306a\u514c\u63db\u901a\u8ca8\u3067\u3042\u308d\u3046\u304c\u3001\u4eca\u306e\u7d19\u5e63\u306e\u3088\u3046\u306a\u4e0d\u63db\u901a\u8ca8\u3067\u3042\u308d\u3046\u304c\u3001\u540c\u3058\u3053\u3068\u3067\u3042\u308b\u3002\u524d\u8005\u3067\u3042\u308c\u3070\u653f\u5e9c\u306f\u8cb4\u91d1\u5c5e\u306e\u542b\u6709\u91cf\u3092\u6e1b\u3089\u3057\u3001\u5f8c\u8005\u3067\u3042\u308c\u3070\u5927\u91cf\u306b\u5370\u5237\u3059\u308b\u3002\u305d\u308c\u304c\u6b74\u53f2\u4e0a\u307b\u307c\u4f8b\u5916\u306e\u306a\u3044\u4e8b\u5b9f\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u3001\u30c9\u30eb\u3084\u5186\u306a\u3069\u306e\u7d19\u5e63\u3067\u306f\u306a\u304f\u3001\u30b4\u30fc\u30eb\u30c9\u3067\u8cc7\u7523\u3092\u84c4\u3048\u308b\u3053\u3068\u3092\u52e7\u3081\u3066\u304d\u305f\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>2002\u5e74\u3001\u308f\u308c\u308f\u308c\u306f\u9867\u5ba2\u306b\u6d41\u52d5\u8cc7\u7523\u3092\u6700\u592750%\u307e\u3067\u30b4\u30fc\u30eb\u30c9\u306b\u3059\u3079\u304d\u3060\u3068\u52a9\u8a00\u3057\u305f\u3002\u9577\u671f\u4fdd\u6709\u3067\u3001\u30c8\u30ec\u30fc\u30c9\u76ee\u7684\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30b4\u30fc\u30eb\u30c9\u306f\u5f53\u6642\u3001300\u30c9\u30eb\u7a0b\u5ea6\u3067\u3001\u8ab0\u3082\u30b4\u30fc\u30eb\u30c9\u306b\u8208\u5473\u3092\u6301\u3063\u3066\u3044\u306a\u304b\u3063\u305f\u3002\u30b4\u30fc\u30eb\u30c9\u306f\u5f53\u6642\u300120\u5e74\u3082\u4e0b\u843d\u3057\u3066\u3044\u3066\u3001\u666e\u901a\u306e\u6295\u8cc7\u5bb6\u306f\u8ab0\u3082\u8208\u5473\u3092\u6301\u305f\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u8ab0\u3082\u304c\u305d\u306e\u8cc7\u7523\u3092\u5acc\u3063\u3066\u3044\u3066\u3001\u58f2\u3089\u308c\u3059\u304e\u306e\u72b6\u614b\u306e\u6642\u3053\u305d\u305d\u306e\u8cc7\u7523\u3092\u8cb7\u3046\u3079\u304d\u306a\u306e\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f55\u3068\u3044\u3046\u9577\u3044\u6295\u8cc7\u671f\u9593\u3060\u308d\u3046\u3002\u3057\u304b\u3057\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306e\u5224\u65ad\u306f\u6b63\u3057\u304b\u3063\u305f\u3002\u91d1\u4fa1\u683c\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\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\/07\/2025-7-8-gold-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"559\" height=\"500\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-8-gold-chart.png\" alt=\"\" class=\"wp-image-67679\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-8-gold-chart.png 559w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2025\/07\/2025-7-8-gold-chart-300x268.png 300w\" sizes=\"auto, (max-width: 559px) 100vw, 559px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u3068\u30c9\u30eb\u306e\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u4f55\u6545\u30b4\u30fc\u30eb\u30c9\u306f\u3053\u308c\u307b\u3069\u9577\u671f\u306b\u6e21\u3063\u3066\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u306e\u304b\u3002\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306b\u3088\u308c\u3070\u3001\u30b4\u30fc\u30eb\u30c9\u304c\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u3068\u8a00\u3046\u306e\u306f\u8a9e\u5f0a\u304c\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>\u3060\u304c\u524d\u306b\u3082\u8a00\u3063\u305f\u3088\u3046\u306b\u3001\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u304c\u4e0a\u304c\u3063\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u5358\u306b\u30c9\u30eb\u3084\u4ed6\u306e\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u3060\u3051\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e0a\u8a18\u306e\u3088\u3046\u306b\u3001\u901a\u8ca8\u306f\u9577\u671f\u7684\u306b\u306f\u653f\u5e9c\u306b\u3088\u3063\u3066\u4fa1\u5024\u3092\u6e1b\u3089\u3055\u308c\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u4e0a\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u3092\u30c9\u30eb\u3067\u8a08\u3063\u305f\u3082\u306e\u3067\u3042\u308a\u3001\u305d\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u304c\u3001\u9006\u306b\u8a00\u3048\u3070\u305d\u308c\u3060\u3051\u30c9\u30eb\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u9006\u6570\u3092\u53d6\u3063\u3066\u30c1\u30e3\u30fc\u30c8\u3092\u9006\u3055\u306b\u3059\u308c\u3070\u3001\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u30b4\u30fc\u30eb\u30c9\u3067\u8a08\u3063\u305f\u30c1\u30e3\u30fc\u30c8\u304c\u51fa\u6765\u4e0a\u304c\u308b\u306e\u3067\u3042\u308a\u3001\u305d\u308c\u306f\u9577\u671f\u7684\u306b\u7269\u51c4\u3044\u52e2\u3044\u3067\u4e0b\u843d\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d19\u5e63\u306e\u9577\u671f\u7684\u306a\u4fa1\u5024\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u304c\u81ea\u7531\u306b\u30c9\u30eb\u7d19\u5e63\u3092\u5370\u5237\u3057\u3066\u30c9\u30eb\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u3089\u306a\u3044\u3068\u601d\u3063\u305f\u3060\u308d\u3046\u304b\u3002\u3060\u304c\u65e5\u672c\u306e\u4eba\u3005\u306b\u306f\u30c9\u30eb\u306f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3060\u308d\u3046\u3002\u305d\u308c\u306f\u5358\u306b\u3001\u5b9f\u969b\u306b\u306f\u4e0b\u304c\u3063\u3066\u3044\u308b\u30c9\u30eb\u3088\u308a\u3082\u9065\u304b\u306b\u901f\u3044\u30b9\u30d4\u30fc\u30c9\u3067\u3001\u65e5\u672c\u5186\u304c\u66b4\u843d\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3060\u3051\u306e\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u5186\u3067\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u898b\u308c\u3070\u4e0a\u304c\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u7d19\u5e63\u3067\u3082\u306e\u306e\u4fa1\u5024\u3092\u8a08\u308b\u3053\u3068\u306a\u3069\u5fd8\u308c\u3066\u3057\u307e\u3048\u3068\u8a00\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>\u901a\u8ca8\u3092\u57fa\u6e96\u306b\u8a08\u3063\u305f\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u306f\u91cd\u8981\u3067\u306f\u306a\u3044\u3002\u7d19\u5e63\u306e\u4fa1\u5024\u306f\u4e0b\u304c\u308a\u7d9a\u3051\u308b\u304b\u3089\u3060\u3002\u4f55\u3067\u3082\u3044\u3044\u304c\u3001\u30de\u30af\u30c9\u30ca\u30eb\u30c9\u306e\u30cf\u30f3\u30d0\u30fc\u30ac\u30fc\u3084\u30c1\u30ad\u30f3\u304c\u3069\u308c\u3060\u3051\u8cb7\u3048\u308b\u304b\u306e\u65b9\u304c\u91cd\u8981\u3060\u3002<\/p>\n\n\n\n<p>1971\u5e74\u304b\u3089\u3053\u308c\u307e\u3067\u306e\u3068\u3053\u308d99%\u3082\u4fa1\u5024\u3092\u5931\u3044\u3001\u6700\u7d42\u7684\u306b\u306f\u5b8c\u5168\u306b\u4fa1\u5024\u3092\u5931\u3046\u30c9\u30eb\u7d19\u5e63\u3067\u8a08\u7b97\u3057\u305f\u4fa1\u5024\u306b\u610f\u5473\u306f\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u6c38\u9060\u306b\u4e0a\u304c\u308b\u8cc7\u7523\u306a\u3069\u306a\u3044\u3002\u3060\u304c\u3042\u308b\u610f\u5473\u3067\u306f\u30b4\u30fc\u30eb\u30c9\u306f\u4f8b\u5916\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u30b4\u30fc\u30eb\u30c9\u304c\u6c38\u9060\u306b\u4e0a\u6607\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u7d19\u5e63\u306e\u4fa1\u5024\u304c\u6c38\u9060\u306b\u4e0b\u843d\u3059\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e16\u754c\u4e2d\u306e\u4eba\u3005\u304c\u3001\u9577\u671f\u7684\u306b\u4fa1\u5024\u304c\u4e0b\u843d\u3059\u308b\u3068\u5206\u304b\u3063\u3066\u3044\u308b\u7d19\u5e63\u3067\u8cc7\u7523\u3092\u8caf\u84c4\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u304c\u3069\u308c\u3060\u3051\u99ac\u9e7f\u3052\u305f\u3053\u3068\u304b\u5206\u304b\u308b\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u4eba\u3005\u306f\u3069\u3046\u3059\u308c\u3070\u826f\u3044\u306e\u304b\u3002\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u3001\u7d19\u5e63\u304c\u6b74\u53f2\u7684\u306b\u5e38\u306b\u4fa1\u5024\u3092\u6e1b\u3089\u3055\u308c\u3066\u304d\u305f\u3088\u3046\u306b\u3001\u30b4\u30fc\u30eb\u30c9\u304c\u6b74\u53f2\u7684\u306b\u3069\u3046\u306a\u3063\u3066\u304d\u305f\u304b\u3092\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>\u30b4\u30fc\u30eb\u30c9\u306f\u6b74\u53f2\u3092\u751f\u304d\u629c\u3044\u305f\u552f\u4e00\u306e\u901a\u8ca8\u3060\u3002\u305d\u3057\u3066\u3053\u308c\u304b\u3089\u3082\u540c\u3058\u3088\u3046\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f55\u6545\u306a\u3089\u3070\u3001\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u3092\u653f\u5e9c\u304c\u52dd\u624b\u306b\u6e1b\u3089\u3059\u3053\u3068\u306f\u51fa\u6765\u306a\u3044\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\/12051\" data-type=\"post\" data-id=\"12051\">\u30cf\u30a4\u30a8\u30af: 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Greyerz\u306e\u30a8\u30b4\u30f3\u30fb\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u304c\u3001\u3053\u30532\u5e74\u307b\u3069\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u30b4\u30fc\u30eb\u30c9\u306e\u9577\u671f\u7684\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,110],"tags":[204],"class_list":["post-67652","post","type-post","status-publish","format-standard","hentry","category-commodity-markets","category-gold","tag-egon-von-greyerz"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/67652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=67652"}],"version-history":[{"count":60,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/67652\/revisions"}],"predecessor-version":[{"id":67713,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/67652\/revisions\/67713"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=67652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=67652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=67652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}