{"id":112297,"date":"2026-08-04T00:16:14","date_gmt":"2026-08-03T22:16:14","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=112297"},"modified":"2026-08-03T11:10:12","modified_gmt":"2026-08-03T09:10:12","slug":"peter-reagan-fakta-o-cinskem-zlatem-resetu","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/08\/04\/peter-reagan-fakta-o-cinskem-zlatem-resetu\/","title":{"rendered":"Peter Reagan: Fakta o \u010d\u00ednsk\u00e9m \u201ezlat\u00e9m resetu\u201c"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<div class=\"elementor-element elementor-element-1fb4c2c elementor-widget elementor-widget-theme-post-content\" data-id=\"1fb4c2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-content.default\">\n<div class=\"elementor-widget-container\">\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Internet miluje reset.<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eReset\u201c vezme neuv\u011b\u0159iteln\u011b slo\u017eit\u00e9 t\u00e9ma a redukuje ho na datum, rozhodnut\u00ed a velk\u00e9 \u010derven\u00e9 tla\u010d\u00edtko.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ned\u00e1vn\u00e1 ozn\u00e1men\u00ed z \u010d\u00ednsk\u00e9ho trhu se zlatem vyvolala skute\u010dn\u00fd mikropr\u016fmysl pln\u00fd hrozn\u00fdch varov\u00e1n\u00ed a hysterick\u00fdch p\u0159edpov\u011bd\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V posledn\u00edch t\u00fddnech jsem se do sv\u00fdch kan\u00e1l\u016f dostal s tvrzen\u00edmi, \u017ee \u010c\u00edna znovu zavedla zlat\u00fd standard a \u017ee Peking vybudoval stroj ur\u010den\u00fd ke \u201ezhroucen\u00ed dolaru\u201c. N\u011bkte\u0159\u00ed dokonce varovali, \u017ee 24. \u010dervenec bude znamenat \u201ekonec obchodov\u00e1n\u00ed se zlatem\u201c \u2013 n\u011bjak\u00fdm zp\u016fsobem eliminuje manipulaci a odhal\u00ed \u201eskute\u010dnou\u201c cenu zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">(Jedno popul\u00e1rn\u00ed video dok\u00e1zalo vzn\u00e9st t\u00e9m\u011b\u0159 v\u0161echna tato tvrzen\u00ed najednou!)<\/span><\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"24. \u010dervence: Den, kdy \u010c\u00edna odhal\u00ed skute\u010dnou cenu zlata\" src=\"https:\/\/www.youtube.com\/embed\/hHNDgjan15c?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Posly\u0161te: Ch\u00e1pu, pro\u010d jsou lid\u00e9 na\u0161tvan\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna je p\u0159edn\u00edm sv\u011btov\u00fdm producentem zlata. V roce 2023 \u010c\u00edna p\u0159edb\u011bhla Indii a stala se p\u0159edn\u00edm sv\u011btov\u00fdm spot\u0159ebitelem zlata (a jej\u00ed spot\u0159eba daleko p\u0159evy\u0161uje dom\u00e1c\u00ed produkci). Jej\u00ed centr\u00e1ln\u00ed banka, \u010c\u00ednsk\u00e1 lidov\u00e1 banka (PBoC), v posledn\u00edch 20 po sob\u011b jdouc\u00edch m\u011bs\u00edc\u00edch stabiln\u011b zvy\u0161ovala sv\u00e9 ofici\u00e1ln\u00ed zlat\u00e9 rezervy.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna a Hongkong nyn\u00ed buduj\u00ed nov\u00e9 trezory, \u00fa\u010detn\u00ed syst\u00e9my a dodavatelsk\u00e9 s\u00edt\u011b pro tento drah\u00fd kov.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To zn\u00ed v\u00fdznamn\u011b, proto\u017ee to v\u00fdznamn\u011b je.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ale nebu\u010fme ukvapen\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Toto nen\u00ed zlat\u00fd standard. Nen\u00ed to z\u00e1kaz pap\u00edrov\u00e9ho zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A neexistuj\u00ed \u017e\u00e1dn\u00e9 d\u016fkazy o tom, \u017ee by \u010c\u00edna p\u0159epnula p\u0159ep\u00edna\u010d, kter\u00fd by n\u00e1hle \u201eresetoval\u201c glob\u00e1ln\u00ed cenu zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak u\u017e to v re\u00e1ln\u00e9m \u017eivot\u011b b\u00fdv\u00e1, skute\u010dn\u00fd p\u0159\u00edb\u011bh je slo\u017eit\u011bj\u0161\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mysl\u00edm si ale, \u017ee je to d\u016fle\u017eit\u00e9, proto\u017ee o\u010dek\u00e1v\u00e1m, \u017ee to bude m\u00edt z dlouhodob\u00e9ho hlediska mnohem v\u011bt\u0161\u00ed dopad\u2026<\/span><br \/>\n<span dir=\"auto\">\u010c\u00edna stav\u00ed v\u00edc ne\u017e jen v\u011bt\u0161\u00ed trezor.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Za\u010dn\u011bme t\u00edm, co se vlastn\u011b stalo.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Hongkong 7. \u010dervence zah\u00e1jil zku\u0161ebn\u00ed provoz nov\u00e9ho centr\u00e1ln\u00edho clearingov\u00e9ho a vypo\u0159\u00e1dac\u00edho syst\u00e9mu pro zlato.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Clearing a vypo\u0159\u00e1d\u00e1n\u00ed jsou dva z pojm\u016f, kter\u00e9 v\u011bt\u0161in\u011b lid\u00ed zatem\u0148uj\u00ed o\u010di. Jednodu\u0161e \u0159e\u010deno, nov\u00fd syst\u00e9m je navr\u017een tak, aby instituc\u00edm pomohl efektivn\u011bji zpracov\u00e1vat transakce se zlatem \u2013 propojit kupuj\u00edc\u00ed a prod\u00e1vaj\u00edc\u00ed, p\u0159ev\u00e9st platby a potvrdit vlastnictv\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Hongkong tak\u00e9 spustil prvn\u00ed f\u00e1zi nov\u00e9ho programu \u201eDelivery Connect\u201c se \u0160anghajskou zlatou burzou. Jeho c\u00edlem je usnadnit zpracov\u00e1n\u00ed p\u0159eshrani\u010dn\u00edch transakc\u00ed se zlatem a p\u0159epravu fyzick\u00e9ho kovu mezi ob\u011bma trhy.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Hongkong z\u00e1rove\u0148 pl\u00e1nuje do t\u0159\u00ed let roz\u0161\u00ed\u0159it svou kapacitu skladov\u00e1n\u00ed zlata na v\u00edce ne\u017e 2 000 tun. To by bylo zhruba desetin\u00e1sobek jeho sou\u010dasn\u011b uv\u00e1d\u011bn\u00e9 kapacity.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u00da\u0159edn\u00edci popisuj\u00ed c\u00edl jako vybudov\u00e1n\u00ed kompletn\u00edho ekosyst\u00e9mu zlata, kter\u00fd zahrnuje obchodov\u00e1n\u00ed, clearing, skladov\u00e1n\u00ed, dod\u00e1vky, poji\u0161t\u011bn\u00ed a logistiku.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pod\u00edvejte se na to takto:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Vlastnit velkou hromadu zlata je jedna v\u011bc.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V\u00fdstavba silnic, sklad\u016f, vah, bezpe\u010dnostn\u00edch syst\u00e9m\u016f a platebn\u00edch s\u00edt\u00ed pot\u0159ebn\u00fdch k p\u0159eprav\u011b tohoto zlata je n\u011bco \u00fapln\u011b jin\u00e9ho.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna ji\u017e nashrom\u00e1\u017edila zna\u010dn\u00e9 mno\u017estv\u00ed fyzick\u00e9ho zlata. Nyn\u00ed rozv\u00edj\u00ed dal\u0161\u00ed infrastrukturu pot\u0159ebnou k tomu, aby toto zlato zp\u0159\u00edstupnila instituc\u00edm a p\u0159es hranice.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To z j\u00fcanu ned\u011bl\u00e1 m\u011bnu krytou zlatem.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mohlo by to ale usnadnit dr\u017een\u00ed, obchodov\u00e1n\u00ed a dod\u00e1vky zlata v r\u00e1mci finan\u010dn\u00edho syst\u00e9mu, kter\u00fd je v\u00edce soust\u0159ed\u011bn kolem \u010c\u00edny a j\u00fcanu.<\/span><br \/>\n<span dir=\"auto\">\u010c\u00ednsk\u00e9 banky zav\u00edraj\u00ed dve\u0159e maloobchodn\u00edmu sektoru.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Druh\u00fdm v\u00fdvojem je d\u016fvod pro p\u0159\u00edb\u011bh o \u201eresetu \u010c\u00edny\u201c z 24. \u010dervence.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pr\u016fmyslov\u00e1 a obchodn\u00ed banka \u010c\u00edny (ICBC) ozn\u00e1mila, \u017ee po ukon\u010den\u00ed obchodov\u00e1n\u00ed v p\u00e1tek 24. \u010dervence ji\u017e nebude p\u016fsobit jako zprost\u0159edkovatel pro drobn\u00e9 klienty obchoduj\u00edc\u00ed s kontrakty na drah\u00e9 kovy prost\u0159ednictv\u00edm \u0160anghajsk\u00e9 burzy zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ozn\u00e1men\u00ed ICBC se t\u00fdkalo r\u016fzn\u00fdch typ\u016f smluv.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">N\u011bkter\u00e9 p\u0159edstavovaly spotov\u00e9 zlat\u00e9 produkty zp\u016fsobil\u00e9 k fyzick\u00e9mu dod\u00e1n\u00ed. Jin\u00e9 byly smlouvy s odlo\u017een\u00fdm dod\u00e1n\u00edm, kter\u00e9 z\u00e1kazn\u00edk\u016fm umo\u017e\u0148ovaly vyu\u017e\u00edt p\u00e1kov\u00fd efekt \u2013 tedy ovl\u00e1dat v\u011bt\u0161\u00ed pozici zlata s men\u0161\u00edm mno\u017estv\u00edm pen\u011bz.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">ICBC doporu\u010dila klient\u016fm se st\u00e1vaj\u00edc\u00edmi pozicemi, aby je prodali, uzav\u0159eli sv\u00e9 \u00fa\u010dty nebo zajistili fyzick\u00e9 doru\u010den\u00ed p\u0159ed pozastaven\u00edm slu\u017eby. Dal\u0161\u00ed velk\u00e9 \u010d\u00ednsk\u00e9 banky ozn\u00e1mily podobn\u00e9 sta\u017een\u00ed akci\u00ed z maloobchodn\u00edho obchodov\u00e1n\u00ed na \u0160anghajsk\u00e9 burze zlata, a\u010dkoli ne v\u0161echny pou\u017eily stejn\u00fd \u010dasov\u00fd r\u00e1mec.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nap\u0159\u00edklad China Construction Bank ozn\u00e1mila podobn\u00e9 uzav\u0159en\u00ed 24. \u010dervence a varovala, \u017ee zb\u00fdvaj\u00edc\u00ed pod\u00edly nebo pozice by mohly b\u00fdt n\u00e1sledn\u011b prod\u00e1ny nebo nucen\u011b uzav\u0159eny. (Po\u017eadavky na mar\u017ei pro kontrakty s drah\u00fdmi kovy ji\u017e zv\u00fd\u0161ila na 120 %.)<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u016fvodem, kter\u00fd banky uvedly, bylo \u0159\u00edzen\u00ed rizik.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To d\u00e1v\u00e1 smysl vzhledem k mimo\u0159\u00e1dn\u00e9 volatilit\u011b zlata v leto\u0161n\u00edm roce. Zlato v lednu prudce vzrostlo na denn\u00ed maximum pobl\u00ed\u017e 5 600 dolar\u016f, ne\u017e v \u010dervnu kr\u00e1tce kleslo pod 4 000 dolar\u016f. \u010c\u00ednsk\u00e9 banky reagovaly zp\u0159\u00edsn\u011bn\u00edm obchodn\u00edch po\u017eadavk\u016f, p\u0159i\u010dem\u017e n\u011bkter\u00e1 bezpe\u010dnostn\u00ed opat\u0159en\u00ed \u00fadajn\u011b dos\u00e1hla a\u017e 140 %.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jin\u00fdmi slovy, klient musel slo\u017eit vy\u0161\u0161\u00ed kolater\u00e1l, ne\u017e byla hodnota samotn\u00e9 pozice! Z\u00e1rove\u0148 COMEX po\u017eaduje od skupiny CME u zlat\u00fdch futures mar\u017ei ve v\u00fd\u0161i 40 %.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V tom okam\u017eiku bylo pro banky pravd\u011bpodobn\u011b docela obt\u00ed\u017en\u00e9 ospravedlnit atraktivitu slu\u017eby.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nejednalo se o celost\u00e1tn\u00ed z\u00e1kaz vlastnictv\u00ed zlata. \u010c\u00edn\u0161t\u00ed ob\u010dan\u00e9 mohou st\u00e1le vlastnit fyzick\u00e9 zlato, nakupovat slitky a mince a pou\u017e\u00edvat dal\u0161\u00ed nep\u00e1kov\u00e9 zlat\u00e9 produkty.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna tak\u00e9 neuzav\u0159ela \u0160anghajskou zlatou burzu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Podrobn\u011bj\u0161\u00ed popis by byl:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna neuzav\u00edr\u00e1 zlat\u00fd trezor. Jej\u00ed nejv\u011bt\u0161\u00ed banky zav\u00edraj\u00ed \u010d\u00e1st spekulativn\u00edho obchodn\u00edho odd\u011blen\u00ed p\u0159ipojen\u00e9ho k trezoru.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To je pozoruhodn\u00e9. Ale nejde o m\u011bnov\u00fd reset.<\/span><br \/>\n<span dir=\"auto\">Zde je to, co \u010c\u00edna neud\u011blala.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna zlat\u00fd standard znovu nezavedla.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V r\u00e1mci tradi\u010dn\u00edho zlat\u00e9ho standardu n\u00e1rod definuje svou m\u011bnu ve vztahu ke konkr\u00e9tn\u00edmu mno\u017estv\u00ed zlata a slibuje sm\u011bnitelnost obou. \u010c\u00edna takov\u00fd slib neu\u010dinila.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Juan nelze sm\u011bnit za pevn\u011b stanovenou hmotnost zlata. Peking neozn\u00e1mil, \u017ee ka\u017ed\u00fd juan bude kryt zlat\u00fdmi rezervami. Ani neomezil svou schopnost vytv\u00e1\u0159et v\u00edce m\u011bny v pom\u011bru k mno\u017estv\u00ed zlata ve sv\u00fdch trezorech.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna nezak\u00e1zala obchodov\u00e1n\u00ed s futures ani deriv\u00e1ty.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Hongkong ve skute\u010dnosti d\u011bl\u00e1 t\u00e9m\u011b\u0159 prav\u00fd opak.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V r\u00e1mci sv\u00e9ho \u00fasil\u00ed st\u00e1t se v\u00fdznamn\u00fdm centrem obchodov\u00e1n\u00ed se zlatem Hongkong o\u017eivil zlat\u00e9 futures kontrakty v americk\u00fdch dolarech i v \u201eoffshore j\u00fcanech\u201c s fyzick\u00fdmi doru\u010dovac\u00edmi slu\u017ebami prost\u0159ednictv\u00edm z\u00fa\u010dastn\u011bn\u00fdch instituc\u00ed. C\u00edlem v\u0161ech t\u011bchto zm\u011bn? Pos\u00edlit Hongkong jako offshore centrum j\u00fcan\u016f a region\u00e1ln\u00ed centrum pro obchodov\u00e1n\u00ed se zlatem, clearing a rezervy \u2013 nikoli u\u010dinit j\u00fcan sm\u011bniteln\u00fdm za zlato.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna systematicky neru\u0161\u00ed pap\u00edrov\u00e9 zlato. Sp\u00ed\u0161e se zd\u00e1, \u017ee omezuje p\u0159\u00edstup k ur\u010dit\u00fdm volatiln\u00edm, bankovn\u00edm maloobchodn\u00edm produkt\u016fm a z\u00e1rove\u0148 roz\u0161i\u0159uje institucion\u00e1ln\u00ed obchodov\u00e1n\u00ed se zlatem, jeho clearing, dod\u00e1vky a skladov\u00e1n\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tato dv\u011b opat\u0159en\u00ed si nemus\u00ed nutn\u011b proti\u0159e\u010dit.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Peking mo\u017en\u00e1 chce, aby zlato hr\u00e1lo v\u011bt\u0161\u00ed strategickou roli, ani\u017e by povzbuzoval b\u011b\u017en\u00e9 dom\u00e1cnosti k vysoce zadlu\u017een\u00e9mu kr\u00e1tkodob\u00e9mu s\u00e1zen\u00ed na jeho cenu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To je mnohem v\u011brohodn\u011bj\u0161\u00ed vysv\u011btlen\u00ed ne\u017e my\u0161lenka, \u017ee \u010c\u00edna tajn\u011b pl\u00e1novala zni\u010den\u00ed glob\u00e1ln\u00edho m\u011bnov\u00e9ho syst\u00e9mu na p\u00e1te\u010dn\u00ed \u010dervencov\u00e9 odpoledne.<\/span><br \/>\n<span dir=\"auto\">Pro\u010d tomu lid\u00e9 st\u00e1le v\u011bnuj\u00ed pozornost?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ten humbuk je mo\u017en\u00e1 p\u0159ehnan\u00fd, ale nevznikl z ni\u010deho nic.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna zauj\u00edm\u00e1 na trhu se zlatem jedine\u010dn\u00e9 postaven\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Je nejv\u011bt\u0161\u00edm sv\u011btov\u00fdm producentem zlata, kter\u00fd v posledn\u00edch letech p\u0159edstavuje p\u0159ibli\u017en\u011b 10 % celosv\u011btov\u00e9 t\u011b\u017eby. Je tak\u00e9 nejv\u011bt\u0161\u00edm spot\u0159ebitelem \u2013 to znamen\u00e1, \u017ee zem\u011b spot\u0159ebov\u00e1v\u00e1 v\u00edce zlata, ne\u017e produkuje, a mus\u00ed dov\u00e1\u017eet zna\u010dn\u00e9 mno\u017estv\u00ed, aby uspokojila dom\u00e1c\u00ed popt\u00e1vku.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Popt\u00e1vka po zlat\u011b v \u010c\u00edn\u011b se tak\u00e9 m\u011bn\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V roce 2025 se n\u00e1kupy slitk\u016f a minc\u00ed zv\u00fd\u0161ily o v\u00edce ne\u017e 35 % na p\u0159ibli\u017en\u011b 504 tun. \u010c\u00ednsk\u00e1 popt\u00e1vka po investi\u010dn\u00edch slitc\u00edch a minc\u00edch poprv\u00e9 p\u0159ekro\u010dila popt\u00e1vku po zlat\u00fdch \u0161perc\u00edch. Dom\u00e1c\u00ed produkce dos\u00e1hla p\u0159ibli\u017en\u011b 381 tun.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pak je tu \u010d\u00ednsk\u00e1 centr\u00e1ln\u00ed banka.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00ednsk\u00e1 lidov\u00e1 banka ozn\u00e1mila v \u010dervnu n\u00e1r\u016fst o p\u0159ibli\u017en\u011b 15 tun zlata, co\u017e je nejv\u011bt\u0161\u00ed m\u011bs\u00ed\u010dn\u00ed n\u00e1r\u016fst od \u0159\u00edjna 2023. T\u00edm se prodlou\u017eila jej\u00ed hl\u00e1\u0161en\u00e1 n\u00e1kupn\u00ed s\u00e9rie na 20 po sob\u011b jdouc\u00edch m\u011bs\u00edc\u016f a jej\u00ed ofici\u00e1ln\u00ed z\u00e1soby se zv\u00fd\u0161ily na p\u0159ibli\u017en\u011b 2 346 tun.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Sestavte d\u00edly:<\/span><\/p>\n<ul>\n<li><span dir=\"auto\">\u010c\u00edna produkuje hodn\u011b zlata.<\/span><\/li>\n<li><span dir=\"auto\">\u010c\u00ednsk\u00e9 dom\u00e1cnosti a instituce nakupuj\u00ed zlato.<\/span><\/li>\n<li><span dir=\"auto\">\u010c\u00edna dov\u00e1\u017e\u00ed dal\u0161\u00ed zlato.<\/span><\/li>\n<li><span dir=\"auto\">PBoC hromad\u00ed zlato.<\/span><\/li>\n<li><span dir=\"auto\">Hongkong roz\u0161i\u0159uje skladov\u00e1n\u00ed zlata.<\/span><\/li>\n<li><span dir=\"auto\">Buduj\u00ed se nov\u00e9 syst\u00e9my pro z\u00fa\u010dtov\u00e1n\u00ed, vypo\u0159\u00e1d\u00e1n\u00ed a p\u0159epravu zlata p\u0159es hranice.<\/span><\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tohle nen\u00ed zlat\u00fd standard. Ale ani to nen\u00ed bezv\u00fdznamn\u00e9.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna buduje finan\u010dn\u00ed prost\u0159ed\u00ed, ve kter\u00e9m je fyzick\u00e9 zlato snadn\u011bj\u0161\u00ed na skladov\u00e1n\u00ed, obchodov\u00e1n\u00ed a pou\u017e\u00edv\u00e1n\u00ed \u2013 a z\u00e1rove\u0148 sni\u017euje svou z\u00e1vislost na instituc\u00edch a platebn\u00edch syst\u00e9mech mimo jej\u00ed kontrolu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ji\u017e jsme diskutovali o tom, pro\u010d centr\u00e1ln\u00ed banky st\u00e1le v\u00edce vn\u00edmaj\u00ed fyzick\u00e9 zlato jako d\u016fle\u017eit\u00e9 rezervn\u00ed aktivum ve sv\u011bt\u011b rostouc\u00edho st\u00e1tn\u00edho dluhu, geopolitick\u00e9ho nap\u011bt\u00ed a m\u011bnov\u00e9 nejistoty.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ned\u00e1vn\u00e9 kroky \u010c\u00edny zapadaj\u00ed do tohoto \u0161ir\u0161\u00edho vzorce.<\/span><br \/>\n<span dir=\"auto\">Mohla by \u010c\u00edna zm\u011bnit glob\u00e1ln\u00ed cenu zlata?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zde mus\u00edme b\u00fdt obzvl\u00e1\u0161t\u011b opatrn\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zlato nem\u00e1 trh ani stroj na ur\u010dov\u00e1n\u00ed ceny.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jeho glob\u00e1ln\u00ed cena je ur\u010dena komplexn\u00ed s\u00edt\u00ed fyzick\u00fdch slitk\u016f, velkoobchodn\u00edch spotov\u00fdch transakc\u00ed, futures kontrakt\u016f, pohyb\u016f m\u011bn, aktivit centr\u00e1ln\u00edch bank a n\u00e1kup\u016f dom\u00e1cnost\u00ed a instituc\u00ed po cel\u00e9m sv\u011bt\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Lond\u00fdn a New York z\u016fst\u00e1vaj\u00ed nesm\u00edrn\u011b vlivn\u00e9. \u0160anghaj se st\u00e1v\u00e1 st\u00e1le d\u016fle\u017eit\u011bj\u0161\u00ed. Ceny se mezi t\u011bmito trhy pohybuj\u00ed prost\u0159ednictv\u00edm arbitr\u00e1\u017ee \u2013 obchodn\u00edci reaguj\u00ed, kdy\u017e zlato na jednom m\u00edst\u011b znateln\u011b zlevn\u00ed ne\u017e na jin\u00e9m.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010cast\u00fdm argumentem je, \u017ee obchodov\u00e1n\u00ed s futures vytv\u00e1\u0159\u00ed um\u011blou cenu zlata, proto\u017ee se s n\u00edm obchoduje mnohem v\u00edce kontrakt\u016f, ne\u017e kolik se m\u011bn\u00ed majitele fyzick\u00fdch slitk\u016f.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V tom je zrnko pravdy.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Finan\u010dn\u00ed p\u00e1ka umo\u017e\u0148uje obchodn\u00edk\u016fm ovl\u00e1dat velk\u00e9 pozice, ani\u017e by museli platit plnou hodnotu p\u0159edem. P\u0159i extr\u00e9mn\u00edch pohybech trhu mohou v\u00fdzvy k dodate\u010dn\u00e9 \u00fahrad\u011b a nucen\u00e9 likvidace zes\u00edlit cenov\u00e9 v\u00fdkyvy. Ned\u00e1vn\u00e1 volatilita kov\u016f poskytla \u0159adu p\u0159\u00edklad\u016f toho, jak spekulativn\u00ed aktivita urychluje jak r\u016fst, tak i v\u00fdprodeje.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Bylo by ale chybou dosp\u011bt k z\u00e1v\u011bru, \u017ee cel\u00fd trh s futures je zmanipulovan\u00fd nebo \u017ee jeho zru\u0161en\u00ed by automaticky odhalilo \u201eskute\u010dnou\u201c cenu zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Futures tak\u00e9 poskytuj\u00ed likviditu a pom\u00e1haj\u00ed kupuj\u00edc\u00edm a prod\u00e1vaj\u00edc\u00edm s ur\u010dov\u00e1n\u00edm ceny. V\u00fdzkum \u010d\u00ednsk\u00e9ho trhu se zlatem uk\u00e1zal, \u017ee obchodov\u00e1n\u00ed s futures historicky hraje v\u00fdznamnou roli p\u0159i tvorb\u011b cen. Sv\u011btov\u00e1 rada pro zlato rovn\u011b\u017e poznamen\u00e1v\u00e1, \u017ee futures koncentruj\u00ed obchodn\u00ed aktivitu, zvy\u0161uj\u00ed likviditu a p\u0159isp\u00edvaj\u00ed k procesu, kter\u00fdm se nov\u00e9 informace odr\u00e1\u017eej\u00ed v cen\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Men\u0161\u00ed zadlu\u017een\u00ed m\u016f\u017ee omezit nucen\u00e9 prodeje a spekulativn\u00ed excesy. Banka pro mezin\u00e1rodn\u00ed platby dokonce tvrd\u00ed, \u017ee p\u00e1kov\u00e9 a mar\u017eov\u00e9 likvidace zes\u00edlily n\u00e1hl\u00fd obrat ceny zlata v lednu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u016f\u017ee to v\u0161ak tak\u00e9 znamenat m\u00e9n\u011b kupuj\u00edc\u00edch a prod\u00e1vaj\u00edc\u00edch, slab\u0161\u00ed obchodn\u00ed aktivitu a v\u011bt\u0161\u00ed volatilitu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tak\u017ee bych netvrdil, \u017ee uzav\u00edr\u00e1n\u00ed \u010d\u00ednsk\u00fdch bank automaticky povede k poctiv\u011bj\u0161\u00ed cen\u011b zlata \u2013 zejm\u00e9na proto, \u017ee toto uzav\u00edr\u00e1n\u00ed ovliv\u0148uje pouze ur\u010dit\u00e9 maloobchodn\u00ed obchodn\u00ed kan\u00e1ly, zat\u00edmco Hongkong sou\u010dasn\u011b roz\u0161i\u0159uje dal\u0161\u00ed formy obchodov\u00e1n\u00ed s futures kontrakty.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Potenci\u00e1ln\u011b d\u016fle\u017eit\u011bj\u0161\u00edm v\u00fdvojem je rozvoj fyzick\u00e9 infrastruktury.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pokud je v Hongkongu ulo\u017eeno v\u00edce zlata\u2026<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A pokud v\u00edce firem nab\u00edz\u00ed fyzick\u00e9 doru\u010den\u00ed\u2026<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A pokud Delivery Connect p\u0159il\u00e1k\u00e1 v\u00fdznamnou p\u0159eshrani\u010dn\u00ed aktivitu\u2026<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A pokud asijsk\u00e9 instituce st\u00e1le \u010dast\u011bji pou\u017e\u00edvaj\u00ed tyto syst\u00e9my, m\u00edsto aby se jednodu\u0161e odvol\u00e1valy na ceny stanoven\u00e9 jinde\u2026<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">&#8230;pak by fyzick\u00e1 popt\u00e1vka z \u010c\u00edny a zbytku Asie mohla m\u00edt p\u0159\u00edm\u011bj\u0161\u00ed vliv na glob\u00e1ln\u00ed cenu zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To by se nestalo v r\u00e1mci jednoho term\u00ednu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u011blo by se to postupn\u011b, transakce po transakci. Zlat\u00e1 slitka po zlat\u00e9 sli\u010dce.<\/span><br \/>\n<span dir=\"auto\">Na co se d\u00edvat d\u00e1l.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nejlep\u0161\u00edm zp\u016fsobem, jak posoudit \u010d\u00ednsk\u00e9 zlat\u00e9 ambice, nen\u00ed sledovat p\u0159edpov\u011bdi na soci\u00e1ln\u00edch s\u00edt\u00edch ani z\u00edrat na cenu zlata r\u00e1no po 24. \u010dervenci.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Sledujte, co \u010c\u00edna vlastn\u011b stav\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Za\u010d\u00edn\u00e1 se skladovac\u00ed kapacita Hongkongu bl\u00ed\u017eit c\u00edli 2 000 tun?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Kolik zlata prot\u00e9k\u00e1 nov\u00fdm \u00fa\u010detn\u00edm syst\u00e9mem?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pou\u017e\u00edvaj\u00ed mezin\u00e1rodn\u00ed banky, centr\u00e1ln\u00ed banky a velc\u00ed komer\u010dn\u00ed odb\u011bratel\u00e9 slu\u017ebu Delivery Connect?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">P\u0159il\u00e1kaj\u00ed nov\u00e9 zlat\u00e9 kontrakty Hongkongu dostatek obchodu, aby se staly v\u00fdznamn\u00fdmi?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">P\u0159esouv\u00e1 se v\u00edce zlata do alokovan\u00fdch \u00falo\u017ei\u0161\u0165 a fyzick\u00e9ho vypo\u0159\u00e1d\u00e1n\u00ed, m\u00edsto aby z\u016fstalo pouze smluvn\u00edm p\u0159\u00edslibem?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tato \u010d\u00edsla n\u00e1m uk\u00e1\u017eou, zda \u010c\u00edna vytvo\u0159ila skute\u010dn\u00e9 alternativn\u00ed centrum zlata \u2013 nebo jen dal\u0161\u00ed ambici\u00f3zn\u00ed finan\u010dn\u00ed projekt, kter\u00fd nikdy nebude pln\u011b vyu\u017eit.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Infrastruktura je d\u016fle\u017eit\u00e1. Ale infrastruktura se mus\u00ed vyu\u017e\u00edvat.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pr\u00e1zdn\u00e1 d\u00e1lnice z\u00e1sadn\u011b nezm\u011bn\u00ed obchod jen proto, \u017ee n\u011bkdo nalil beton.<\/span><br \/>\n<span dir=\"auto\">Zlatem je jen fyzick\u00e9 zlato.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A\u010dkoli \u010c\u00edna nezavedla m\u011bnu krytou zlatem, nezak\u00e1zala deriv\u00e1ty ani neresetovala glob\u00e1ln\u00ed cenu zlata, jej\u00ed ned\u00e1vn\u00e1 rozhodnut\u00ed ilustruj\u00ed n\u011bco, o \u010dem \u010dasto diskutuji:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Fyzick\u00e9 zlato a finan\u010dn\u00ed pohled\u00e1vka v\u00e1zan\u00e1 na zlato nejsou tot\u00e9\u017e.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Futures kontrakt je dohoda.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u00e1 pravidla, data expirace, bezpe\u010dnostn\u00ed po\u017eadavky a protistrany. Burza cenn\u00fdch pap\u00edr\u016f m\u016f\u017ee zm\u011bnit sv\u00e9 podm\u00ednky. Banka m\u016f\u017ee zv\u00fd\u0161it po\u017eadavky na mar\u017ei. Finan\u010dn\u00ed instituce se m\u016f\u017ee rozhodnout, \u017ee ji\u017e nechce produkt prod\u00e1vat.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To neznamen\u00e1, \u017ee ka\u017ed\u00e1 smlouva je podvodn\u00e1 nebo zbyte\u010dn\u00e1. Tyto n\u00e1stroje slou\u017e\u00ed legitimn\u00edm komer\u010dn\u00edm \u00fa\u010del\u016fm (stejn\u011b jako spekulac\u00edm). Znamen\u00e1 to jednodu\u0161e, \u017ee smlouva nen\u00ed samotn\u00e9 zlato.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Z\u00e1kazn\u00edci ICBC tento rozd\u00edl za\u017eili na vlastn\u00ed k\u016f\u017ei. Jejich bankovn\u00ed p\u0159\u00edstup k \u0160anghajsk\u00e9 zlat\u00e9 burze existoval pouze do t\u00e9 doby, dokud se banka rozhodla jej poskytovat. Kdy\u017e banka zm\u011bnila svou politiku, museli z\u00e1kazn\u00edci akcie prodat, uzav\u0159\u00edt sv\u00e9 pozice nebo p\u0159ijmout dod\u00e1vku.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pravidla t\u00fdkaj\u00edc\u00ed se slibu se mohou zm\u011bnit.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Unce fyzick\u00e9ho zlata z\u016fst\u00e1v\u00e1 unci fyzick\u00e9ho zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To neznamen\u00e1, \u017ee cena fyzick\u00e9ho zlata nem\u016f\u017ee klesnout. Zlato letos prudce pokleslo a ka\u017ed\u00fd, kdo tvrd\u00ed, \u017ee se jeho cena pohybuje pouze jedn\u00edm sm\u011brem, ignoruje historii.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tak\u00e9 nev\u00edm, jestli nov\u00e9 \u010d\u00ednsk\u00e9 syst\u00e9my p\u0159\u00ed\u0161t\u00ed t\u00fdden, p\u0159\u00ed\u0161t\u00ed rok nebo v\u016fbec n\u011bkdy zvednou cenu zlata. Ka\u017ed\u00fd, kdo slibuje dramatick\u00fd n\u00e1r\u016fst ceny na z\u00e1klad\u011b jedin\u00e9ho data, prod\u00e1v\u00e1 cenn\u00fd pap\u00edr, kter\u00fd neexistuje.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zde je to, co v\u00edme:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna investuje zna\u010dn\u00e9 prost\u0159edky do skladov\u00e1n\u00ed, clearingu a dod\u00e1vek fyzick\u00e9ho zlata. Jej\u00ed centr\u00e1ln\u00ed banka tento kov nad\u00e1le akumuluje. Z\u00e1rove\u0148 n\u011bkter\u00e9 z jej\u00edch nejv\u011bt\u0161\u00edch bank fakticky zakazuj\u00ed spekulace s cenou zlata v maloobchod\u011b s vyu\u017eit\u00edm p\u00e1kov\u00e9ho efektu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna se zcela neopou\u0161t\u00ed pap\u00edrov\u00fdch trh\u016f. Ale z fyzick\u00fdch zlat\u00fdch slitk\u016f d\u011bl\u00e1 v\u011bt\u0161\u00ed a d\u016fle\u017eit\u011bj\u0161\u00ed sou\u010d\u00e1st sv\u00e9ho finan\u010dn\u00edho syst\u00e9mu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pro Ameri\u010dany, kte\u0159\u00ed se zaj\u00edmaj\u00ed o sv\u00e9 dlouhodob\u00e9 \u00faspory, je d\u016fle\u017eit\u00e9 tento rozd\u00edl pochopit. Existuje v\u00fdznamn\u00fd rozd\u00edl mezi vlastnictv\u00edm aktiva a vlastnictv\u00edm p\u0159\u00edslibu zalo\u017een\u00e9ho na cen\u011b tohoto aktiva.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u010c\u00edna 24. \u010dervence cenu zlata neresetuje.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u00edsto toho ve skute\u010dnosti p\u0159ipom\u00edn\u00e1 sv\u011btu, co zlato doopravdy je. P\u0159ipom\u00edn\u00e1 v\u0161em, kte\u0159\u00ed zapomn\u011bli, pro\u010d je fyzick\u00e9 zlato d\u016fle\u017eit\u00e9.<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-8c57238 quelle dc-has-condition dc-condition-empty elementor-widget elementor-widget-heading\" data-id=\"8c57238\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h3 class=\"elementor-heading-title elementor-size-default\"><span style=\"font-size: 10pt;\"><a href=\"https:\/\/www.zerohedge.com\/precious-metals\/facts-behind-chinas-gold-reset\" target=\"_blank\" rel=\"nofollow noopener\"><span dir=\"auto\">Zdroj<\/span><\/a><\/span><\/h3>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Internet miluje reset. \u201eReset\u201c vezme neuv\u011b\u0159iteln\u011b slo\u017eit\u00e9 t\u00e9ma a redukuje ho na datum, rozhodnut\u00ed a&#8230;<\/p>\n","protected":false},"author":2,"featured_media":19568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[30,45,693],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/112297"}],"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=112297"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/112297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/19568"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=112297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=112297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=112297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}