{"id":70865,"date":"2025-09-30T20:00:00","date_gmt":"2025-09-30T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=70865"},"modified":"2025-09-30T02:18:19","modified_gmt":"2025-09-29T17:18:19","slug":"%e3%82%b4%e3%83%bc%e3%83%ab%e3%83%89%e3%82%92%e6%8e%a8%e5%a5%a8%e3%81%99%e3%82%8b%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%e3%80%81%e3%81%99","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/70865","title":{"rendered":"\u30b4\u30fc\u30eb\u30c9\u3092\u63a8\u5968\u3059\u308b\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u3001\u3059\u3079\u3066\u306e\u901a\u8ca8\u3092\u9177\u8a55"},"content":{"rendered":"\n<p>\u5f15\u304d\u7d9a\u304d\u3001Von Greyerz\u306e\u30a8\u30b4\u30f3\u30fb\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u306f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u4e0b\u843d\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u90e8\u5206\u3092\u7d39\u4ecb\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u8cb4\u91d1\u5c5e<\/strong><\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u306e\u306f\u3082\u306e\u306e\u4fa1\u5024\u304c\u4e0a\u304c\u308b\u3053\u3068\u3067\u306f\u306a\u304f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u308b\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u7d19\u5e63\u3092\u6301\u3063\u3066\u3044\u308b\u4eba\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8eab\u3092\u5b88\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002\u3060\u304c\u3001\u524d\u56de\u306e\u8a18\u4e8b\u3067\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u3001\u305d\u3082\u305d\u3082\u305d\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u7d71\u8a08\u304c\u64cd\u4f5c\u3055\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u8a71\u3092\u3057\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/70830\" data-type=\"post\" data-id=\"70830\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u653f\u5e9c\u767a\u8868\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u6570\u5b57\u306f\u4f4e\u304f\u51fa\u308b\u3088\u3046\u306b\u64cd\u4f5c\u3055\u308c\u3066\u3044\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u304c3%\u3060\u3068\u3044\u3046\u653f\u5e9c\u306e\u516c\u5f0f\u767a\u8868\u3092\u898b\u3066\u300c\u3042\u3042\u3001\u7d19\u5e63\u306e\u4fa1\u5024\u4e0b\u843d\u306f3%\u306a\u306e\u304b\u300d\u3068\u601d\u3063\u3066\u3044\u305f\u3089\u3001\u653f\u5e9c\u306e\u516c\u5f0f\u767a\u8868\u304c\u610f\u56f3\u7684\u306b\u5c0f\u3055\u3044\u6570\u5b57\u306b\u306a\u3063\u3066\u3044\u3066\u3001\u5b9f\u306f\u672c\u5f53\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f10%\u3060\u3063\u305f\u3068\u3044\u3046\u8a71\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3067\u306f\u3069\u3046\u3059\u308c\u3070\u826f\u3044\u306e\u304b\u3002\u8a71\u306f\u7c21\u5358\u3067\u3042\u308b\u3002\u4fa1\u5024\u306e\u4e0b\u843d\u3059\u308b\u3082\u306e\u3092\u4fdd\u6709\u3057\u306a\u3051\u308c\u3070\u826f\u3044\u306e\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u7d19\u5e63\u304b\u3089\u8cb4\u91d1\u5c5e\u306b\u8cc7\u91d1\u3092\u9003\u907f\u3055\u305b\u308b\u3053\u3068\u3092\u85a6\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/70147\" data-type=\"post\" data-id=\"70147\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u7d19\u5e63\u5370\u5237\u3067\u91d1\u76f8\u5834\u306f1970\u5e74\u4ee3\u306e25\u500d\u4e0a\u6607\u3092\u7e70\u308a\u8fd4\u3059<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/70024\" data-type=\"post\" data-id=\"70024\">\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f: \u30b7\u30eb\u30d0\u30fc\u306f\u30b4\u30fc\u30eb\u30c9\u3088\u308a\u5927\u304d\u304f\u4e0a\u6607\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u901a\u8ca8\u306e\u4fa1\u5024\u4e0b\u843d<\/strong><\/p>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u4e0b\u843d\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u4eca\u306b\u59cb\u307e\u3063\u305f\u8a71\u3067\u306f\u306a\u3044\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>1971\u5e74\u304b\u3089\u901a\u8ca8\u306e\u4fa1\u5024\u306f\u30b4\u30fc\u30eb\u30c9\u306b\u5bfe\u3057\u306699%\u4e0b\u304c\u3063\u305f\u3002\u3064\u307e\u308a\u30011%\u306b\u306a\u3063\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>1970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306e\u59cb\u3081\u306b\u306f\u3001\u91d1\u4fa1\u683c\u306f1\u30aa\u30f3\u30b9\u5f53\u305f\u308a35\u30c9\u30eb\u3060\u3063\u305f\u3002\u4eca\u306e\u91d1\u4fa1\u683c\u306f3,800\u30c9\u30eb\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u91d1\u4fa1\u683c\u306f100\u500d\u4ee5\u4e0a\u306b\u306a\u3063\u305f\u306e\u3060\u304c\u3001\u305d\u308c\u306f\u9006\u306b\u8a00\u3048\u3070\u30c9\u30eb\u306e\u4fa1\u5024\u304c\u30b4\u30fc\u30eb\u30c9\u306b\u5bfe\u30571%\u4ee5\u4e0b\u306b\u306a\u3063\u305f\u3068\u3044\u3046\u3060\u3051\u306e\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306f\u305d\u308c\u304c\u3053\u308c\u304b\u3089\u3082\u7d9a\u304f\u3068\u8003\u3048\u3066\u3044\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\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\u305d\u306e1%\u3068\u3044\u3046\u306e\u306f\u3001\u4eca\u306e100%\u3067\u3001\u307e\u305f\u305d\u3053\u304b\u3089\u4e0b\u304c\u308b\u308f\u3051\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u91d1\u4fa1\u683c\u306e\u63a8\u79fb\u4e88\u60f3<\/strong><\/p>\n\n\n\n<p>\u4f55\u6545\u305d\u3046\u306a\u308b\u306e\u304b\uff1f\u3000\u91d1\u878d\u5e02\u5834\u306b\u306f\u6c38\u9060\u306b\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u3082\u306e\u306a\u3069\u306a\u3044\u3002\u3060\u304c\u8cb4\u91d1\u5c5e\u306e\u4fa1\u683c\u306f\u5225\u3067\u3042\u308b\u3002\u4f55\u6545\u304b\uff1f\u3000\u6c38\u9060\u306b\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u3082\u306e\u306a\u3069\u306a\u3044\u304c\u3001\u6c38\u9060\u306b\u4e0b\u304c\u308a\u7d9a\u3051\u308b\u3082\u306e\u306a\u3089\u3042\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u3001\u3053\u308c\u307e\u3067\u3082\u305d\u3046\u3060\u3063\u305f\u3088\u3046\u306b\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\uff08\u91d1\u878d\u7de9\u548c\u3068\u3044\u3046\u653f\u5e9c\u306e\u652f\u63f4\u306e\u304a\u9670\u3067\uff09\u6c38\u9060\u306b\u4e0b\u304c\u308a\u7d9a\u3051\u308b\u306a\u3089\u3001\u305d\u306e\u901a\u8ca8\u3067\u8a08\u3063\u305f\u8cb4\u91d1\u5c5e\u3084\u305d\u306e\u4ed6\u5b9f\u969b\u306b\u4fa1\u5024\u306e\u3042\u308b\u3082\u306e\u306e\u4fa1\u683c\u306f\u3001\u6c38\u9060\u306b\u4e0a\u304c\u308a\u7d9a\u3051\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\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\u4fa1\u683c\u3092\u66b4\u843d\u3059\u308b\u901a\u8ca8\u3092\u57fa\u6e96\u306b\u8a08\u308b\u3053\u3068\u306f\u7121\u610f\u5473\u3060\u3002\u9d8f\u3068\u304b\u725b\u3068\u304b\u3001\u3082\u3063\u3068\u4fa1\u5024\u306e\u3042\u308b\u3082\u306e\u3067\u8a08\u3063\u305f\u65b9\u304c\u826f\u3044\u3002<\/p>\n\n\n\n<p>\u308f\u305f\u3057\u306f\u3082\u3046\u4f55\u5e74\u3082\u524d\u306b\u91d1\u4fa1\u683c\u306e\u4e88\u60f3\u3092\u51fa\u3059\u306e\u3092\u6b62\u3081\u305f\u3002\u610f\u5473\u304c\u306a\u3044\u304b\u3089\u3060\u3002\u6700\u7d42\u7684\u306b\u7121\u4fa1\u5024\u306b\u306a\u308b\u3082\u306e\u3067\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u3092\u8a08\u3063\u3066\u3069\u3046\u3059\u308b\uff1f<\/p>\n<\/blockquote>\n\n\n\n<p>\u307e\u305f\u3001\u30c9\u30eb\u3084\u30e6\u30fc\u30ed\u3084\u5186\u304c\u4fe1\u983c\u3067\u304d\u306a\u3044\u306a\u3089\u3001\u4ed6\u306b\u4fe1\u983c\u3067\u304d\u308b\u901a\u8ca8\u306f\u3042\u308b\u304b\u3068\u3044\u3046\u8b70\u8ad6\u306b\u3064\u3044\u3066\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>\u308f\u305f\u3057\u306e\u610f\u898b\u3067\u306f\u3001\u3069\u306e\u901a\u8ca8\u304c\u4e00\u756a\u6700\u521d\u306b\u5e95\u306b\u9054\u3059\u308b\u304b\u3092\u4e88\u60f3\u3059\u308b\u306e\u306f\u6642\u9593\u306e\u7121\u99c4\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u91cd\u8981\u306a\u3053\u3068\u306f1\u3064\u3060\u3051\u3060\u3002\u6b74\u53f2\u4e0a\u3092\u901a\u3057\u3066\u3001\u653f\u5e9c\u306f\u901a\u8ca8\u306e\u4fa1\u5024\u3092\u5e38\u306b\u9577\u671f\u7684\u306b\u4e0b\u843d\u3055\u305b\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3001\u601d\u3044\u51fa\u3055\u308c\u308b\u306e\u306f\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u6b21\u306e\u8a00\u8449\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17063\" data-type=\"post\" data-id=\"17063\">\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f: \u8ab0\u3067\u3082\u512a\u308c\u305f\u6295\u8cc7\u5bb6\u306b\u306a\u308c\u308b\u65b9\u6cd5<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u6b74\u53f2\u304b\u3089\u5b66\u3079\u308b\u3053\u3068\u306f\u3001\u4eba\u306f\u6b74\u53f2\u304b\u3089\u5b66\u3070\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u308c\u3067\u672a\u3060\u306b\u4eba\u3005\u306f\u7d19\u5e63\u3092\u6301\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30c0\u30e0\u30fb\u30b9\u30df\u30b9\u6c0f\u306f\u3001\u4eba\u3005\u304c\u901a\u8ca8\u306e\u4fa1\u5024\u4e0b\u843d\u306b\u6c17\u3065\u304b\u306a\u3044\u7406\u7531\u3092\u3042\u306e\u6709\u540d\u306a\u300e<a href=\"https:\/\/amzn.to\/3V0tgK2\" target=\"_blank\" rel=\"noreferrer noopener\">\u56fd\u5bcc\u8ad6<\/a>\u300f\u3067\u5206\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac\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\/58253\" data-type=\"post\" data-id=\"58253\">\u30a2\u30c0\u30e0\u30fb\u30b9\u30df\u30b9\u6c0f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u4e0b\u843d\u3057\u3066\u3082\u4e00\u822c\u306e\u4eba\u3005\u304c\u6c17\u3065\u304b\u306a\u3044\u7406\u7531\u3092\u8aac\u660e\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u4eba\u3005\u304c\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u6295\u8cc7\u306a\u3069\u306e\u4e0b\u3089\u306a\u3044\u3053\u3068\u3092\u52c9\u5f37\u3059\u308b\u524d\u306b\u300e<a href=\"https:\/\/amzn.to\/3V0tgK2\" target=\"_blank\" rel=\"noreferrer noopener\">\u56fd\u5bcc\u8ad6<\/a>\u300f\u3092\u5c11\u3057\u3067\u3082\u8aad\u3093\u3067\u3044\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u306b\u8cc7\u7523\u3092\u596a\u308f\u308c\u308b\u3053\u3068\u3082\u306a\u304b\u3063\u305f\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u6b63\u3057\u3044\u77e5\u8b58\u306b\u76ee\u3092\u5411\u3051\u308b\u4eba\u306f\u307b\u3068\u3093\u3069\u3044\u306a\u3044\u3002\u3060\u304b\u3089\u7d19\u5e63\u304c\u6b74\u53f2\u4e0a\u6700\u5927\u306e\u30d0\u30d6\u30eb\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><a href=\"https:\/\/amzn.to\/3V0tgK2\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/m.media-amazon.com\/images\/I\/61IehJX+0rL._SL160_.jpg\"><\/a><br><a href=\"https:\/\/amzn.to\/3V0tgK2\" target=\"_blank\" rel=\"noreferrer noopener\">\u56fd\u5bcc\u8ad6<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5f15\u304d\u7d9a\u304d\u3001Von Greyerz\u306e\u30a8\u30b4\u30f3\u30fb\u30d5\u30a9\u30f3\u30fb\u30b0\u30e9\u30a4\u30a2\u30fc\u30c4\u6c0f\u306e\u81ea\u793e\u914d\u4fe1\u52d5\u753b\u3067\u3042\u308b\u3002 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