{"id":107050,"date":"2026-05-21T00:15:22","date_gmt":"2026-05-20T22:15:22","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=107050"},"modified":"2026-05-20T16:38:25","modified_gmt":"2026-05-20T14:38:25","slug":"dolarova-past-snaha-washingtonu-udrzet-persky-zaliv-na-uzde","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/05\/21\/dolarova-past-snaha-washingtonu-udrzet-persky-zaliv-na-uzde\/","title":{"rendered":"Dolarov\u00e1 past: Snaha Washingtonu udr\u017eet Persk\u00fd z\u00e1liv na uzd\u011b"},"content":{"rendered":"
<\/div>\n

SAE nepot\u0159ebuj\u00ed \u00faspory \u2013 dolar ano<\/strong><\/h3>\n

P\u0159\u00edb\u011bh, kter\u00e9mu se Washington sna\u017e\u00ed v\u0161t\u00edpit, je jednoduch\u00fd. V\u00e1lka s \u00cdr\u00e1nem zni\u010dila ekonomiku Persk\u00e9ho z\u00e1livu a USA sv\u00fdm spojenc\u016fm h\u00e1z\u00ed z\u00e1chrann\u00e9 lano.\u00a0\u00a0<\/span>Wall Street Journal<\/span><\/i><\/a>\u00a0<\/i>(WSJ) ozna\u010dil navrhovanou swapovou linku pro dolar v SAE za finan\u010dn\u00ed pojistku.\u00a0\u00a0<\/span>Financial Times<\/span><\/i><\/a>\u00a0(FT) ji ozna\u010dil za z\u00e1chranu.\u00a0\u00a0<\/span>CNBC<\/span><\/a> ji ozna\u010dila za finan\u010dn\u00ed pomoc. Skute\u010dnou ot\u00e1zkou je, kdo z\u00edsk\u00e1 p\u0159\u00edstup k bran\u00e1m Fedu a za jak\u00fdch politick\u00fdch podm\u00ednek.<\/span><\/p>\n

I kdy\u017e je r\u00e1mov\u00e1n\u00ed \u00fahledn\u00e9, \u010d\u00edsla nesed\u00ed. Spojen\u00e9 arabsk\u00e9 emir\u00e1ty maj\u00ed devizov\u00e9 rezervy ve v\u00fd\u0161i 270 miliard dolar\u016f a zhruba dva biliony dolar\u016f st\u00e1tn\u00edho bohatstv\u00ed. Zem\u011b, kter\u00e1 je \u00fadajn\u011b zachra\u0148ov\u00e1na, dr\u017e\u00ed desetkr\u00e1t v\u00edce dolar\u016f, ne\u017e kolik jich m\u00e1 fond pou\u017eit\u00fd na jej\u00ed z\u00e1chranu. Finan\u010dn\u00ed pomoc zachra\u0148uje slab\u00e9. Tato finan\u010dn\u00ed pomoc chr\u00e1n\u00ed syst\u00e9m, kter\u00fd si nem\u016f\u017ee dovolit neposlu\u0161nost v Persk\u00e9m z\u00e1livu.<\/span><\/p>\n

V polovin\u011b dubna 2026 nadnesl guvern\u00e9r Centr\u00e1ln\u00ed banky Spojen\u00fdch arabsk\u00fdch emir\u00e1t\u016f\u00a0\u00a0<\/span>Khaled Mohamed Balama<\/span><\/a>\u00a0my\u0161lenku dolarov\u00e9 swapov\u00e9 linky b\u011bhem setk\u00e1n\u00ed s americk\u00fdm ministrem financ\u00ed Scottem Bessentem ve Washingtonu. \u010cl\u00e1nek se objevil v den\u00edku WSJ. O n\u011bkolik dn\u00ed pozd\u011bji Bessent\u00a0\u00a0<\/span>tuto my\u0161lenku obhajoval<\/span><\/a>\u00a0p\u0159ed rozpo\u010dtov\u00fdm v\u00fdborem Sen\u00e1tu a swapovou linku podle sv\u00fdch vlastn\u00edch slov ozna\u010dil za \u201ed\u016fkaz o nad\u0159azenosti americk\u00e9ho dolaru a s\u00edle americk\u00e9ho ekonomick\u00e9ho \u0161t\u00edtu\u201c.\u00a0<\/span><\/p>\n

Na ot\u00e1zku v po\u0159adu \u201eSquawk Box\u201c televize CNBC, zda tento krok podporuje, americk\u00fd prezident Donald Trump odpov\u011bd\u011bl: \u201eKdyby m\u011bli probl\u00e9m\u2026 byl bych tu pro n\u011b.\u201c<\/span><\/p>\n

V\u00fdm\u011bnn\u00e9 potrub\u00ed je z\u00e1lo\u017en\u00ed ujedn\u00e1n\u00ed mezi dv\u011bma centr\u00e1ln\u00edmi bankami. P\u0159edstavte si ho jako nouzov\u00e9 potrub\u00ed mezi dv\u011bma domy. Nic nete\u010de, dokud se neotev\u0159e ventil, ale samotn\u00e9 potrub\u00ed uklid\u0148uje sousedy.<\/span><\/p>\n

Na ozn\u00e1men\u00ed stoj\u00ed za zm\u00ednku t\u0159i v\u011bci. Nic nebylo podeps\u00e1no. Nebyly poskytnuty \u017e\u00e1dn\u00e9 pen\u00edze. Dokonce i vlastn\u00ed velvyslanectv\u00ed Spojen\u00fdch arabsk\u00fdch emir\u00e1t\u016f\u00a0\u00a0<\/span>se ve\u0159ejn\u011b postavilo proti<\/span><\/a> . Jak\u00fdkoli n\u00e1znak, \u017ee Ab\u00fa Zab\u00ed pot\u0159ebuje extern\u00ed finan\u010dn\u00ed podporu, podle velvyslanectv\u00ed \u201enespr\u00e1vn\u011b interpretuje fakta\u201c.<\/span><\/p>\n

Tak\u017ee pokud zachra\u0148ovan\u00e1 zem\u011b pop\u00edr\u00e1, \u017ee z\u00e1chranu pot\u0159ebuje, co Washington vlastn\u011b oznamuje?<\/span><\/p>\n

Jachta pot\u0159ebuje z\u00e1chrann\u00fd \u010dlun<\/span><\/strong><\/h3>\n

Pro\u010d by zem\u011b s biliony st\u00e1tn\u00edho bohatstv\u00ed pot\u0159ebovala nouzovou linku do Washingtonu? Zpr\u00e1vy z hlavn\u00edch m\u00e9di\u00ed jen neur\u010dit\u011b poukazuj\u00ed na volatilitu v\u00e1lky s \u00cdr\u00e1nem. Rozvaha v\u0161ak ukazuje n\u011bkam jinam.<\/span><\/p>\n

Z\u00e1chrannou vestu \u010dlov\u011bku na jeho vlastn\u00ed jacht\u011b neh\u00e1z\u00edte. Spojen\u00e9 arabsk\u00e9 emir\u00e1ty dr\u017e\u00ed desetkr\u00e1t v\u00edce dolarov\u00fdch rezerv ne\u017e cel\u00fd fond ministerstva financ\u00ed, kter\u00fd Bessent sm\u00ed pou\u017e\u00edt, ani\u017e by se obr\u00e1til na Kongres. Tento fond,\u00a0\u00a0<\/span>Fond pro stabilizaci devizov\u00e9ho trhu<\/span><\/a>\u00a0(ESF), je omezen na zhruba 219 miliard dolar\u016f. Jen rezervy centr\u00e1ln\u00ed banky Ab\u00fa Zab\u00ed tuto \u010d\u00e1stku p\u0159evy\u0161uj\u00ed. P\u0159ipo\u010dt\u011bte k tomu emir\u00e1tsk\u00e9 st\u00e1tn\u00ed investi\u010dn\u00ed fondy a z\u00e1chran\u00e1\u0159 doraz\u00ed s n\u00e1prstkem k povodni, kterou zachr\u00e1n\u011bn\u00fd nem\u00e1.<\/span><\/p>\n

Bessent Sen\u00e1tu \u0159ekl, \u017ee \u201e\u0159ada dal\u0161\u00edch zem\u00ed, v\u010detn\u011b n\u011bkter\u00fdch na\u0161ich asijsk\u00fdch spojenc\u016f\u201c, po\u017e\u00e1dala o vlastn\u00ed swapov\u00e9 linky. C\u00edl formuloval jako \u201enov\u00e1 centra financov\u00e1n\u00ed v americk\u00fdch dolarech v Persk\u00e9m z\u00e1livu a Asii\u201c.<\/span><\/p>\n

\u017d\u00e1dost Emir\u00e1t\u016f m\u016f\u017ee b\u00fdt vstupn\u00edm bodem, ale Washington na\u010drt\u00e1v\u00e1 n\u011bco \u0161ir\u0161\u00edho \u2013 region\u00e1ln\u00ed mapu likvidity vybudovanou kolem dolaru pr\u00e1v\u011b v okam\u017eiku, kdy d\u016fv\u011bra zem\u00ed Persk\u00e9ho z\u00e1livu v ochranu USA sl\u00e1bne.<\/span><\/p>\n

Swapov\u00e1 linka je p\u0159edem p\u0159ipraven\u00e1 tlakov\u00e1 infrastruktura \u2013 postaven\u00e1 nikoli pro nedostatek v SAE, ale pro den, kdy se hlavn\u00ed m\u011bsta Persk\u00e9ho z\u00e1livu rozhodnou, \u017ee dolar u\u017e nestoj\u00ed za poslu\u0161nost, kterou vy\u017eaduje.<\/span><\/p>\n

Recykla\u010dn\u00ed stroj se za\u010d\u00edn\u00e1 t\u0159\u00e1st<\/span><\/strong><\/h3>\n

V\u00edce ne\u017e 50 let dolar b\u011b\u017e\u00ed na tich\u00e9m stroji. Zem\u011b Persk\u00e9ho z\u00e1livu prod\u00e1vaj\u00ed ropu za cenu v dolarech. Tyto dolary se vracej\u00ed do st\u00e1tn\u00edch dluhopis\u016f, nemovitost\u00ed, akci\u00ed a zbran\u00ed. John Perkins, autor knihy \u201e\u00a0<\/span>Zpov\u011b\u010f ekonomick\u00e9ho n\u00e1jemn\u00e9ho vraha<\/span><\/a>\u00a0\u201c, to nazval t\u00edm, jak se imp\u00e9rium vypl\u00e1c\u00ed.<\/span><\/p>\n

Pr\u00e1v\u011b tento n\u00e1vratn\u00fd tok umo\u017e\u0148uje\u00a0 p\u0159e\u017e\u00edt\u00a0<\/span>osmiprocentn\u00ed feder\u00e1ln\u00ed deficit<\/span><\/a>\u00a0. Americk\u00e1 ekonomika si nevyrovn\u00e1v\u00e1 \u00fa\u010detnictv\u00ed. Vyrovn\u00e1v\u00e1n\u00ed zad\u00e1v\u00e1 outsourcingu tomu, kdo recykluje dolarov\u00e9 p\u0159ebytky. Zem\u011b Persk\u00e9ho z\u00e1livu byly jedin\u00fdm investorem, jeho\u017e p\u0159\u00edsp\u011bvek je v\u00e1z\u00e1n na samotnou ropu.<\/span><\/p>\n

\u00cdr\u00e1nsk\u00e1 v\u00e1lka a blok\u00e1da Hormuzsk\u00e9ho z\u00e1livu nezlomily Persk\u00fd z\u00e1liv. Persk\u00fd z\u00e1liv je st\u00e1le solventn\u00ed. Co v\u00e1lka zpochybnila, byla samotn\u00e1 recyklace. V kv\u011btnu 2025 Trumpova cesta p\u0159es Rij\u00e1d a Ab\u00fa Zab\u00ed p\u0159inesla dva z nejv\u011bt\u0161\u00edch bal\u00ed\u010dk\u016f z\u00e1vazk\u016f v modern\u00ed americk\u00e9 diplomacii.\u00a0<\/span><\/p>\n

Sa\u00fadsk\u00e1 Ar\u00e1bie\u00a0\u00a0<\/span>se zav\u00e1zala k investic\u00edm v hodnot\u011b bilionu dolar\u016f<\/span><\/a>\u00a0do zbran\u00ed, energetiky a infrastruktury, v\u010detn\u011b zbrojn\u00ed dohody v hodnot\u011b 142 miliard dolar\u016f, kter\u00e1 je nejv\u011bt\u0161\u00ed v americk\u00e9 historii. Spojen\u00e9 arabsk\u00e9 emir\u00e1ty\u00a0\u00a0<\/span>se zav\u00e1zaly k investici v hodnot\u011b 1,4 bilionu dolar\u016f<\/span><\/a>\u00a0b\u011bhem 10 let, zam\u011b\u0159en\u00e9 na um\u011blou inteligenci, polovodi\u010de a biotechnologie. Oba bal\u00ed\u010dky obsahovaly mnoho memorand o porozum\u011bn\u00ed a m\u00e1lo podepsan\u00fdch smluv.<\/span><\/p>\n

O rok pozd\u011bji, s prob\u00edhaj\u00edc\u00ed v\u00e1lkou v \u00cdr\u00e1nu, spory o Hormuzsk\u00fd pr\u016fliv a s t\u00edm, jak americk\u00e9 bezpe\u010dnostn\u00ed z\u00e1ruky\u00a0\u00a0<\/span>selh\u00e1vaj\u00ed v poskytov\u00e1n\u00ed<\/span><\/a> ochrany, se nad t\u011bmito memorandy vzn\u00e1\u0161\u00ed ot\u00e1zka. Budou i nad\u00e1le realizov\u00e1na? A pokud si Rij\u00e1d a Ab\u00fa Zab\u00ed u\u017e nejsou jisti, \u017ee jim recyklace dolar\u016f do Washingtonu zajist\u00ed bezpe\u010d\u00ed, pro\u010d by je recyklace m\u011bla pokra\u010dovat stejn\u00fdm tempem? Swapov\u00e1 linie se objev\u00ed p\u0159esn\u011b v okam\u017eiku, kdy je tato ot\u00e1zka polo\u017eena.<\/span><\/p>\n

Varovn\u00fd v\u00fdst\u0159el na dolarov\u00e9 short pozice<\/span><\/strong><\/h3>\n

Pod\u00edvejte se, kdo je v centru tohoto tlaku. Scott Bessent si vybudoval jm\u011bn\u00ed v roce 1992 prodejem\u00a0\u00a0<\/span>britsk\u00e9 libry po boku George Sorose<\/span><\/a>\u00a0a b\u011bhem jedin\u00e9ho odpoledne tak zni\u010dil Bank of England. Svou kari\u00e9ru str\u00e1vil jako lupi\u010d, kter\u00fd hledal v k\u0159ehk\u00fdch m\u011bnov\u00fdch syst\u00e9mech praskliny. Nyn\u00ed je mu\u017eem, kter\u00fd je st\u0159e\u017e\u00ed.<\/span><\/p>\n

Fond, ze kter\u00e9ho \u010derp\u00e1,\u00a0\u00a0<\/span>ESF<\/span><\/a>\u00a0, je omezen na zhruba 219 miliard dolar\u016f. To je velikost ka\u017ed\u00e9ho fondu, kter\u00fd m\u016f\u017ee pou\u017e\u00edt, ani\u017e by \u0161el do Kongresu. V rozsahu toho, co se d\u011bje, se jedn\u00e1 o drobn\u00e9.<\/span><\/p>\n

Co tedy toto ozn\u00e1men\u00ed vlastn\u011b d\u011bl\u00e1? Je to varovn\u00fd v\u00fdst\u0159el vyp\u00e1len\u00fd nad obchodn\u00edmi plochami Lond\u00fdna, Singapuru a Hongkongu, m\u00edstnostmi, kde by se m\u011bl um\u00edstit dal\u0161\u00ed short na dolar. Bessent tyto m\u00edstnosti zn\u00e1, proto\u017ee v jedn\u00e9 z nich s\u00e1m sed\u00e1val. Tak\u00e9 v\u00ed, \u017ee v\u011brohodn\u00e1 hrozba m\u016f\u017ee odv\u00e9st pr\u00e1ci skute\u010dn\u00e9ho po\u017e\u00e1ru. C\u00edlem je, aby obchod vypadal p\u0159epln\u011bn\u011b, ne\u017e do n\u011bj n\u011bkdo vstoup\u00ed.<\/span><\/p>\n

Sign\u00e1l je uveden jeho vlastn\u00edmi slovy. Bessent nepopsal swapovou linku SAE Sen\u00e1tu jako nouzov\u00e9 opat\u0159en\u00ed. Nazval ji\u00a0\u00a0<\/span>\u201ev\u00fdznamn\u00fdm prvn\u00edm krokem\u201c<\/span><\/a>\u00a0sm\u011brem k trval\u00fdm centr\u016fm financov\u00e1n\u00ed v dolarech v Persk\u00e9m z\u00e1livu a Asii.<\/span><\/p>\n

Potrub\u00ed u\u017e vede na v\u00fdchod<\/span><\/strong><\/h3>\n

V mainstreamov\u00fdch m\u00e9di\u00edch je swapov\u00e1 linka klasifikov\u00e1na jako bilater\u00e1ln\u00ed. Geograficky je opom\u00edjena \u010c\u00edna. Spojen\u00e9 arabsk\u00e9 emir\u00e1ty maj\u00ed\u00a0\u00a0s \u010c\u00ednskou lidovou bankou\u00a0\u00a0<\/span>swapovou linku v juanech od roku 2012. Sa\u00fadsk\u00e1 Ar\u00e1bie podepsala\u00a0<\/span><\/a>svou vlastn\u00ed<\/span><\/a>\u00a0v listopadu 2023. Ob\u011b zem\u011b se p\u0159ipojily\u00a0\u00a0<\/span>k projektu mBridge<\/span><\/a>\u00a0, \u010d\u00ednsk\u00e9 platform\u011b, kter\u00e1 umo\u017e\u0148uje centr\u00e1ln\u00edm bank\u00e1m prov\u00e1d\u011bt vypo\u0159\u00e1d\u00e1n\u00ed v jejich vlastn\u00edch digit\u00e1ln\u00edch m\u011bn\u00e1ch, a obch\u00e1zet tak dolar.<\/span><\/p>\n

S\u00ed\u0165 \u010d\u00ednsk\u00fdch j\u00fcanov\u00fdch swap\u016f nyn\u00ed zahrnuje\u00a0\u00a0<\/span>v\u00edce ne\u017e 40 zem\u00ed<\/span><\/a>\u00a0. St\u00e1l\u00e1 s\u00ed\u0165 Fedu se roz\u0161\u00ed\u0159\u00ed do p\u011bti zem\u00ed. Kdy\u017e\u00a0\u00a0<\/span>p\u0159edstavitel\u00e9 Spojen\u00fdch arabsk\u00fdch emir\u00e1t\u016f v dubnu varovali<\/span><\/a>\u00a0\u00a0, \u017ee by se prodej ropy mohl p\u0159esunout do j\u00fcan\u016f, mainstream to vylo\u017eil jako vyjedn\u00e1vac\u00ed taktiku. Nebyl to blaf. Infrastruktura ji\u017e byla na m\u00edst\u011b.<\/span><\/p>\n

Tento vzorec se neomezuje pouze na centr\u00e1ln\u00ed banky. Deset dn\u00ed po varov\u00e1n\u00ed SAE\u00a0\u00a0<\/span>poskytla Sa\u00fadsk\u00e1 Ar\u00e1bie 12 milion\u016fm sv\u00fdch ob\u010dan\u016f<\/span><\/a>\u00a0p\u0159\u00edm\u00fd p\u0159\u00edstup k Alipay+, \u010d\u00ednsk\u00e9 s\u00edti pro spot\u0159ebitelsk\u00e9 platby.\u00a0<\/span><\/p>\n

Rij\u00e1d vytv\u00e1\u0159\u00ed mo\u017enosti na v\u0161ech \u00farovn\u00edch: vypo\u0159\u00e1d\u00e1n\u00ed centr\u00e1ln\u00ed bankou prost\u0159ednictv\u00edm mBridge, spot\u0159ebitelsk\u00e9 platby prost\u0159ednictv\u00edm Alipay+ a celost\u00e1tn\u00ed s\u00ed\u0165 mada v r\u00e1mci obou. Nen\u00ed t\u0159eba oznamovat zm\u011bnu, kdy\u017e je infrastruktura ji\u017e na m\u00edst\u011b. Nejprve vybudujte alternativu. Pak nechte z\u00e1vislost na dolarov\u00e9m syst\u00e9mu sama od sebe zmizet.<\/span><\/p>\n

Bessentova \u201epermanentn\u00ed finan\u010dn\u00ed centra v Persk\u00e9m z\u00e1livu a Asii\u201c se objevuj\u00ed pot\u00e9, co \u010c\u00edna str\u00e1vila 15 let budov\u00e1n\u00edm infrastruktury pro obchod mimo dolarov\u00fd syst\u00e9m. Washington nyn\u00ed \u017e\u00e1d\u00e1 Persk\u00fd z\u00e1liv, aby se znovu zav\u00e1zal k kan\u00e1l\u016fm kontrolovan\u00fdm USA, kdy\u017e alternativa ji\u017e nen\u00ed teoretick\u00e1. Pot\u00e9, co v\u00e1lka s \u00cdr\u00e1nem odhalila limity americk\u00fdch bezpe\u010dnostn\u00edch z\u00e1ruk, m\u00e1 tento po\u017eadavek men\u0161\u00ed v\u00e1hu ne\u017e kdysi.<\/span><\/p>\n

Br\u00e1na Fedu se otev\u00edr\u00e1 dovnit\u0159<\/span><\/strong><\/h3>\n

Skute\u010dn\u00fd posun nast\u00e1v\u00e1 s\u00a0\u00a0<\/span>n\u00e1stupem Kevina Warshe<\/span><\/a>\u00a0. Jerome Powell, odch\u00e1zej\u00edc\u00ed p\u0159edseda Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu, neodch\u00e1z\u00ed s \u010dist\u00fdm \u0161t\u00edtem. V lednu 2026\u00a0\u00a0<\/span>vydalo ministerstvo spravedlnosti Feder\u00e1ln\u00edmu rezervn\u00edmu syst\u00e9mu p\u0159edvol\u00e1n\u00ed k velk\u00e9 porot\u011b<\/span><\/a>\u00a0, v n\u011bm\u017e pohrozilo trestn\u00edm st\u00edh\u00e1n\u00edm spojen\u00fdm s Powellem. Vy\u0161et\u0159ov\u00e1n\u00ed ozna\u010dil za \u201ez\u00e1minku\u201c k vyv\u00edjen\u00ed tlaku na Fed ohledn\u011b sazeb. Trump opakovan\u011b signalizoval, \u017ee chce Powella odvolat, ale n\u00e1tlakov\u00e1 kampa\u0148 pozd\u011bji zesl\u00e1bla pot\u00e9, co feder\u00e1ln\u00ed soudce\u00a0<\/span>zam\u00edtl<\/span><\/a>\u00a0p\u0159edvol\u00e1n\u00ed ministerstva spravedlnosti nam\u00ed\u0159en\u00e1 proti p\u0159edsedovi Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu.<\/span><\/p>\n

Warsh nen\u00ed neutr\u00e1ln\u00ed technokrat. Je\u00a0\u00a0<\/span>b\u00fdval\u00fdm bank\u00e9\u0159em Morgan Stanley<\/span><\/a>\u00a0s majetkem p\u0159esahuj\u00edc\u00edm 100 milion\u016f dolar\u016f, kter\u00fd si\u00a0\u00a0<\/span>loni vyd\u011blal 10,2 milionu dolar\u016f na konzulta\u010dn\u00edch poplatc\u00edch<\/span><\/a>\u00a0z rodinn\u00e9 kancel\u00e1\u0159e Stanleyho Druckenmillera. Je tak\u00e9\u00a0\u00a0<\/span>\u017eenat\u00fd s rodinou Lauder\u016f<\/span><\/a>\u00a0, jednou z nejv\u011bt\u0161\u00edch s\u00edt\u00ed Trumpov\u00fdch d\u00e1rc\u016f v zemi, s hlubok\u00fdmi vazbami na politickou architekturu Abrahamov\u00fdch dohod.\u00a0<\/span><\/p>\n

Mu\u017e, kter\u00fd je jmenov\u00e1n, aby otev\u0159el br\u00e1ny Fedu do Persk\u00e9ho z\u00e1livu, nep\u0159ich\u00e1z\u00ed zven\u010d\u00ed syst\u00e9mu, pro kter\u00fd jsou tyto br\u00e1ny stav\u011bny.<\/span><\/p>\n

Ve sv\u00fdch\u00a0\u00a0<\/span>odpov\u011bd\u00edch<\/span><\/a>\u00a0pro z\u00e1znam \u010dlence Sen\u00e1tu Elizabeth Warrenov\u00e9 a dal\u0161\u00edm demokrat\u016fm v bankovn\u00edm v\u00fdboru Warsh nast\u00ednil doktr\u00ednu, kter\u00e1 to umo\u017e\u0148uje.<\/span><\/p>\n

\u201eNez\u00e1vislost Fedu je na vrcholu v operativn\u00edm prov\u00e1d\u011bn\u00ed m\u011bnov\u00e9 politiky,\u201c napsal. \u201eTato m\u00edra nez\u00e1vislosti se nevztahuje na celou \u0161k\u00e1lu jeho funkc\u00ed na\u0159\u00edzen\u00fdch Kongresem.\u201c V z\u00e1le\u017eitostech \u201eovliv\u0148uj\u00edc\u00edch mezin\u00e1rodn\u00ed finance,\u201c dodal Warsh, \u201ebude Fed spolupracovat s administrativou a s Kongresem.\u201c<\/span><\/p>\n

To je jasn\u00fd d\u016fkaz. Br\u00e1ny Fedu do sv\u011btov\u00e9 ekonomiky p\u0159ed\u00e1v\u00e1 v\u00fdkonn\u00e9 moci mu\u017e, kter\u00fd je bude st\u0159e\u017eit.<\/span><\/p>\n

V architektu\u0159e nyn\u00ed sed\u00ed t\u0159i mu\u017ei. Bessent z ministerstva financ\u00ed, lupi\u010d, kter\u00fd kdysi vl\u00e1mal centr\u00e1ln\u00ed banku, a st\u00e1l za touto nab\u00eddkou. Warsh z Fedu, kter\u00fd dr\u017e\u00ed kl\u00ed\u010de k likvidit\u011b, je\u017e za n\u00ed stoj\u00ed. Za ob\u011bma stoj\u00ed Lauder, jeho\u017e s\u00ed\u0165 slou\u017e\u00ed jako politick\u00fd motor Abrahamov\u00fdch dohod, kter\u00e9 se protla\u010duj\u00ed do Persk\u00e9ho z\u00e1livu.<\/span><\/p>\n

N\u00e1sleduje normalizace i likvidita? Otev\u0159e se okno Fedu pro st\u00e1ty Persk\u00e9ho z\u00e1livu, kter\u00e9 podep\u00ed\u0161\u00ed dohody, a z\u016fstane uzav\u0159en\u00e9 pro ostatn\u00ed?<\/span><\/p>\n

Ode dne\u0161ka sledujte, kdo dostane americk\u00e9 potrub\u00ed. To odpov\u00ed na skute\u010dnou ot\u00e1zku. Ostatn\u00ed si u\u017e pokl\u00e1daj\u00ed sv\u00e9 vlastn\u00ed.<\/span><\/p>\n

Anis Raiss<\/span><\/a><\/p>\n

<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

SAE nepot\u0159ebuj\u00ed \u00faspory \u2013 dolar ano P\u0159\u00edb\u011bh, kter\u00e9mu se Washington sna\u017e\u00ed v\u0161t\u00edpit, je jednoduch\u00fd. V\u00e1lka…<\/p>\n","protected":false},"author":2,"featured_media":107051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[1042,1324,4358,310,37],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/107050"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=107050"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/107050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/107051"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=107050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=107050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=107050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}