{"id":115256,"date":"2026-09-08T00:11:37","date_gmt":"2026-09-07T22:11:37","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=115256"},"modified":"2026-09-07T11:44:24","modified_gmt":"2026-09-07T09:44:24","slug":"spech-s-odvezenim-zlata-z-usa","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/09\/08\/spech-s-odvezenim-zlata-z-usa\/","title":{"rendered":"Sp\u011bch s odvezen\u00edm zlata z USA"},"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\"><span dir=\"auto\">V\u010dera se objevily zpr\u00e1vy, \u017ee Nizozemsko pr\u00e1v\u011b p\u0159esunulo asi 86 tun sv\u00fdch zlat\u00fdch rezerv z New Yorku a Ottawy do Lond\u00fdna, p\u0159i\u010dem\u017e jako d\u016fvody v\u00fdslovn\u011b uvedlo \u201erostouc\u00ed geopolitick\u00e9 nepokoje\u201c a pot\u0159ebu p\u0159ipravit se na v\u00e1\u017en\u00e9 krize.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nizozemsk\u00e1 centr\u00e1ln\u00ed banka vysv\u011btluje, \u017ee zlato ulo\u017een\u00e9 v Lond\u00fdn\u011b je snadn\u011bji dostupn\u00e9 a v p\u0159\u00edpad\u011b nouze s n\u00edm lze obchodovat ne\u017e se zlatem ulo\u017een\u00fdm v New Yorku nebo Kanad\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Toto je \u00fa\u017easn\u011b eufemistick\u00e1 formulace centr\u00e1ln\u00ed banky, kter\u00e1 m\u00e1 sd\u011blit sd\u011blen\u00ed, je\u017e mi p\u0159ipad\u00e1 jako: \u201eD\u016fv\u011bra v USA jako\u017eto str\u00e1\u017ece sv\u011btov\u00e9ho zlata&#8230; a pravd\u011bpodobn\u011b i jako z\u00e1kladn\u00ed k\u00e1men glob\u00e1ln\u00edho ekonomick\u00e9ho stroje&#8230; kles\u00e1.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A\u0165 tak \u010di onak, znamen\u00e1 to, \u017ee Nizozemsko se fakticky rozhodlo, \u017ee v p\u0159\u00edpad\u011b glob\u00e1ln\u00edho kolapsu by rad\u011bji m\u011blo podstatn\u011b men\u0161\u00ed \u010d\u00e1st sv\u00e9 kone\u010dn\u00e9 krizov\u00e9 rezervy ulo\u017eenou v Severn\u00ed Americe.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">P\u0159ed p\u0159em\u00edst\u011bn\u00edm se 31,3 % nizozemsk\u00fdch zlat\u00fdch rezerv nach\u00e1zelo v New Yorku, 19,7 % v Ottaw\u011b a 18,1 % v Lond\u00fdn\u011b. Nyn\u00ed New York a Ottawa dr\u017e\u00ed po 18,5 %, zat\u00edmco pod\u00edl Lond\u00fdna se zv\u00fd\u0161il na 32,1 %. Nizozemsko vlastn\u00ed celkem 612,4 tun zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Technicky vzato, ne v\u0161ech 86 tun bylo nalo\u017eeno do letadel a p\u0159epraveno p\u0159es Atlantik. DNB prodala v New Yorku p\u0159ibli\u017en\u011b 59 tun a stejn\u00e9 mno\u017estv\u00ed zlata nakoupila v Lond\u00fdn\u011b za standardn\u00ed tr\u017en\u00ed ceny. V\u00edce ne\u017e 27 tun bylo fyzicky p\u0159epraveno z USA a Kanady do Nizozemska, zat\u00edmco podobn\u00e9 mno\u017estv\u00ed bylo p\u0159epraveno z Nizozemska do Lond\u00fdna.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tento rozd\u00edl je d\u016fle\u017eit\u00fd z provozn\u00edho hlediska. Z ekonomick\u00e9ho hlediska je m\u00e9n\u011b v\u00fdznamn\u00fd. D\u016fsledkem jsou ni\u017e\u0161\u00ed nizozemsk\u00e9 rezervy v New Yorku a podstatn\u011b v\u011bt\u0161\u00ed v Lond\u00fdn\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A to u\u017e jsme vid\u011bli. V roce 2014 Nizozemsko fyzicky repatriovalo 122,5 tuny z New Yorku. N\u011bmecko pozd\u011bji dokon\u010dilo p\u0159em\u00edst\u011bn\u00ed 300 tun z New Yorku do Frankfurtu. A mezi \u010dervencem 2025 a lednem 2026 Francie sn\u00ed\u017eila sv\u00e9 zb\u00fdvaj\u00edc\u00ed z\u00e1soby zlata v New Yorku a nahradila tam ulo\u017een\u00fdch 129 tun standardn\u00edmi tr\u017en\u00edmi slitky, kter\u00e9 jsou nyn\u00ed ulo\u017eeny v Pa\u0159\u00ed\u017ei. Francie uv\u00e1d\u00ed, \u017ee toto rozhodnut\u00ed bylo zalo\u017eeno na efektivit\u011b obchodu, nikoli na politice, co\u017e je celkem pochopiteln\u00e9. Nicm\u00e9n\u011b slitky skon\u010dily v Pa\u0159\u00ed\u017ei m\u00edsto v New Yorku.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Indie tak\u00e9 drasticky sn\u00ed\u017eila pod\u00edl zlata ulo\u017een\u00e9ho v zahrani\u010d\u00ed, p\u0159i\u010dem\u017e v\u011bt\u0161ina t\u00e9to repatriace se t\u00fdkala zlata, kter\u00e9 bylo ulo\u017eeno v Lond\u00fdn\u011b, nikoli v Americe.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zd\u00e1 se mi to jako velmi z\u0159ejm\u00fd trend: centr\u00e1ln\u00ed banky usiluj\u00ed o v\u011bt\u0161\u00ed kontrolu nad jedin\u00fdm rezervn\u00edm aktivem, kter\u00e9 nen\u00ed ni\u010d\u00edm z\u00e1vazkem.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zlato nevy\u017eaduje od Washingtonu \u017e\u00e1dn\u00e9 spl\u00e1tky. Je zvl\u00e1\u0161tn\u00ed, jak atraktivn\u00ed se tato nemovitost st\u00e1v\u00e1, kdy\u017e m\u00e1 Washington dluh p\u0159esahuj\u00edc\u00ed 40 bilion\u016f dolar\u016f.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak \u0159\u00edk\u00e1m u\u017e deset let, cel\u00fd modern\u00ed finan\u010dn\u00ed syst\u00e9m je v kone\u010dn\u00e9m d\u016fsledku dr\u017een pohromad\u011b d\u016fv\u011brou a fiat pen\u011bzi. Dolar funguje, proto\u017ee v\u0161ichni v\u011b\u0159\u00ed, \u017ee v\u0161ichni ostatn\u00ed budou i nad\u00e1le p\u0159ij\u00edmat dolary. Americk\u00e9 st\u00e1tn\u00ed dluhopisy funguj\u00ed, proto\u017ee sv\u011bt v\u011b\u0159\u00ed, \u017ee Spojen\u00e9 st\u00e1ty splat\u00ed sv\u00e9 dluhy, ani\u017e by zni\u010dily kupn\u00ed s\u00edlu m\u011bny, ve kter\u00e9 jsou spl\u00e1ceny.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u016fv\u011bra\u2026 ne prost\u00e1 matematika nebo ekonomie\u2026 je to, co vede lidi jako Paul Krugman k tvrzen\u00edm typu: \u201eDluh jsou pen\u00edze, kter\u00e9 si dlu\u017e\u00edme.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To umo\u017enilo Stephanie Keltonov\u00e9 napsat knihu s n\u00e1zvem \u201eM\u00fdtus o deficitu\u201c.<\/span><\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1080,quality=75,format=auto\/https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/Screenshot%202026-09-03%20at%2013.59.27.jpg\" alt=\"\" width=\"721\" height=\"472\" \/><\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Po cel\u00e1 desetilet\u00ed tato d\u016fv\u011bra umo\u017e\u0148ovala USA vyu\u017e\u00edvat nejlep\u0161\u00ed mo\u017en\u00e9 finan\u010dn\u00ed uspo\u0159\u00e1d\u00e1n\u00ed: hromadit dluh bez obav ze spl\u00e1cen\u00ed, zat\u00edmco my se v\u016f\u010di akciov\u00fdm trh\u016fm st\u00e1v\u00e1me rozmazlen\u00fdmi zbab\u011blci, proto\u017ee m\u00e1me pocit, \u017ee Fed n\u00e1s m\u016f\u017ee a tak\u00e9 zachr\u00e1n\u00ed p\u0159i prvn\u00edm n\u00e1znaku probl\u00e9m\u016f \u2013 a v\u017edycky to bude d\u011blat.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ale v\u0161ude se objevuj\u00ed mal\u00e9 prasklinky.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Dolar st\u00e1le dominuje sv\u011btov\u00fdm m\u011bnov\u00fdm rezerv\u00e1m, tak\u017ee tvrzen\u00ed, \u017ee brzy zmiz\u00ed, jsou nesmysl. V prvn\u00edm \u010dtvrtlet\u00ed roku 2026 tvo\u0159il 57,13 % zve\u0159ejn\u011bn\u00fdch devizov\u00fdch rezerv. To je v\u0161ak v\u00fdrazn\u00fd pokles oproti \u00fadaj\u016fm p\u0159es 70 % z p\u0159elomu tis\u00edcilet\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mezit\u00edm se zd\u00e1, \u017ee centr\u00e1ln\u00ed banky se nemohou naba\u017eit t\u00e9to \u201ebarbarsk\u00e9 relikvie\u201c.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V roce 2025 nakoupili 863 tun zlata, zat\u00edmco v ka\u017ed\u00e9m z p\u0159edchoz\u00edch t\u0159\u00ed let z\u00edskali p\u0159es 1 000 tun. Pr\u016fzkum Sv\u011btov\u00e9 rady pro zlato z roku 2026 uk\u00e1zal, \u017ee 89 % spr\u00e1vc\u016f rezerv o\u010dek\u00e1v\u00e1, \u017ee se v nadch\u00e1zej\u00edc\u00edm roce zv\u00fd\u0161\u00ed objem zlata dr\u017een\u00e9ho centr\u00e1ln\u00edmi bankami na cel\u00e9m sv\u011bt\u011b, zat\u00edmco rekordn\u00edch 45 % p\u0159edpokl\u00e1d\u00e1, \u017ee jejich vlastn\u00ed instituce nakoup\u00ed v\u00edce.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zd\u00e1 se, \u017ee centr\u00e1ln\u00edm bank\u00e9\u0159\u016fm tohoto sv\u011bta nikdo ne\u0159ekl, \u017ee zlato je jen leskl\u00fd k\u00e1men. Nav\u00edc, jak jsme s m\u00fdm p\u0159\u00edtelem Andym Schectmanem opakovan\u011b zd\u016fraz\u0148ovali, na burze COMEX se stalo n\u011bco neobvykl\u00e9ho.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Data z DBS ukazuj\u00ed p\u0159ibli\u017en\u011b 289 000 dodac\u00edch listin zlata v prvn\u00edch dev\u00edti m\u011bs\u00edc\u00edch roku 2025, ve srovn\u00e1n\u00ed s p\u0159ibli\u017en\u011b 119 000 ve stejn\u00e9m obdob\u00ed roku 2024 \u2013 co\u017e je zhruba 2,4kr\u00e1t v\u00edce. Dodac\u00ed list p\u0159ev\u00e1d\u00ed vlastnictv\u00ed dodan\u00e9ho kovu; nemus\u00ed nutn\u011b znamenat, \u017ee do skladu okam\u017eit\u011b doraz\u00ed n\u00e1kladn\u00ed v\u016fz Brinks. Je to v\u0161ak dal\u0161\u00ed zn\u00e1mka zv\u00fd\u0161en\u00e9 popt\u00e1vky po fyzick\u00e9m vypo\u0159\u00e1d\u00e1n\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zlato se neust\u00e1le m\u011bn\u00ed. Centr\u00e1ln\u00ed banky ho skupuj\u00ed. Zem\u011b p\u0159esouvaj\u00ed sv\u00e9 z\u00e1soby. A st\u00e1le v\u00edce cht\u011bj\u00ed v\u011bd\u011bt, kde p\u0159esn\u011b se nach\u00e1z\u00ed a jak rychle se k n\u011bmu mohou dostat. To v\u0161e by bylo zaj\u00edmav\u00e9 jen tehdy, kdyby se situace s americk\u00fdm rozpo\u010dtem z\u00e1rove\u0148 nest\u00e1vala st\u00e1le absurdn\u011bj\u0161\u00ed.<\/span><\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/files.zhedge.com\/cdn-cgi\/image\/width=1080,quality=75,format=auto\/https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/Screenshot%202026-09-03%20at%2013.59.51.jpg\" alt=\"\" width=\"669\" height=\"480\" \/><\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Americk\u00fd st\u00e1tn\u00ed dluh nyn\u00ed p\u0159ekro\u010dil 40 bilion\u016f dolar\u016f, zat\u00edmco v\u00fdnosy n\u011bkter\u00fdch americk\u00fdch st\u00e1tn\u00edch dluhopis\u016f dos\u00e1hly nejvy\u0161\u0161\u00edch \u00farovn\u00ed za t\u00e9m\u011b\u0159 dv\u011b desetilet\u00ed. Z n\u011bjak\u00e9ho d\u016fvodu panuje pocit, \u017ee 6% v\u00fdnos z 10let\u00fdch americk\u00fdch st\u00e1tn\u00edch dluhopis\u016f je na spadnut\u00ed\u2026<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Glob\u00e1ln\u00ed v\u00fdprodej dluhopis\u016f odr\u00e1\u017e\u00ed n\u011bkolik faktor\u016f: inflaci, enormn\u00ed pot\u0159ebu vl\u00e1dn\u00edch p\u016fj\u010dek, geopolitick\u00fd tlak a o\u010dek\u00e1v\u00e1n\u00ed ohledn\u011b \u00farokov\u00fdch sazeb. Bylo by proto zjednodu\u0161en\u00edm p\u0159ipisovat rostouc\u00ed v\u00fdnosy pouze klesaj\u00edc\u00ed d\u016fv\u011b\u0159e v Ameriku.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Trh s dluhopisy nicm\u00e9n\u011b vys\u00edl\u00e1 Washingtonu sign\u00e1l: pen\u00edze u\u017e nejsou zadarmo a se sou\u010dasn\u00fdm stavem v\u011bc\u00ed je n\u011bco hrozn\u011b \u0161patn\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A to je p\u0159esn\u011b ten probl\u00e9m, o kter\u00e9m p\u00ed\u0161u u\u017e l\u00e9ta. S dluhem 40 bilion\u016f dolar\u016f vedou vy\u0161\u0161\u00ed \u00farokov\u00e9 sazby k vy\u0161\u0161\u00edm \u00farokov\u00fdm platb\u00e1m. Vy\u0161\u0161\u00ed \u00farokov\u00e9 platby vedou k v\u011bt\u0161\u00edm deficit\u016fm. V\u011bt\u0161\u00ed deficity vy\u017eaduj\u00ed v\u00edce p\u016fj\u010dek. V\u00edce p\u016fj\u010dek vytv\u00e1\u0159\u00ed v\u011bt\u0161\u00ed nab\u00eddku st\u00e1tn\u00edch dluhopis\u016f. A kone\u010dn\u011b, investo\u0159i po\u017eaduj\u00ed je\u0161t\u011b vy\u0161\u0161\u00ed v\u00fdnosy, aby t\u00e9to nab\u00eddky vyu\u017eili.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Je to fisk\u00e1ln\u00ed had, kter\u00fd si kou\u0161e vlastn\u00ed ocas \u2013 a\u017e na to, \u017ee tento had m\u00e1 termin\u00e1l Bloombergu a excelovskou tabulku, aby do\u010dasn\u011b manipuloval s \u010d\u00edsly. Existuje jen m\u00e1lo cest ven. Washington by mohl omezit v\u00fddaje, drasticky zv\u00fd\u0161it dan\u011b, nebo\u2026 jak tento t\u00fdden navrhl ministr financ\u00ed Bessent, n\u011bjak\u00fdm zp\u016fsobem se z probl\u00e9mu dostat p\u011bstou. Tady se odml\u010d\u00edm, abych se zasm\u00e1l.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ale m\u016fj dlouhodob\u00fd n\u00e1zor je, \u017ee Washington se nakonec rozhodne pro jin\u00e9 \u0159e\u0161en\u00ed: kontrolu v\u00fdnosov\u00e9 k\u0159ivky.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">U\u017e jsme to ud\u011blali. Od roku 1942 Feder\u00e1ln\u00ed rezervn\u00ed syst\u00e9m stanovil \u00farokovou sazbu st\u00e1tn\u00edch dluhopis\u016f na 0,375 %, \u010d\u00edm\u017e efektivn\u011b omezil v\u00fdnos dlouhodob\u00fdch st\u00e1tn\u00edch dluhopis\u016f na 2,5 %. Aby si Fed tyto sazby udr\u017eel, musel v p\u0159\u00edpad\u011b pot\u0159eby nakupovat st\u00e1tn\u00ed dluhopisy. Historici Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu v\u00fdslovn\u011b poukazuj\u00ed na to, \u017ee tato politika donutila Fed vzd\u00e1t se kontroly nad velikost\u00ed sv\u00e9 rozvahy a pen\u011b\u017en\u00ed z\u00e1soby.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tohle je kone\u010dn\u00fd c\u00edl, kter\u00e9ho se st\u00e1le ob\u00e1v\u00e1m. Pokud voln\u00fd trh nakonec po\u017eaduje 6 %, 7 % nebo 8 % na financov\u00e1n\u00ed americk\u00e9ho dluhu a Washington rozhodne, \u017ee tyto \u00farokov\u00e9 sazby jsou ekonomicky nebo fisk\u00e1ln\u011b neudr\u017eiteln\u00e9, n\u011bkdo bude muset koupit dluhopisy s ni\u017e\u0161\u00edmi v\u00fdnosy.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">T\u00edm n\u011bk\u00fdm je Feder\u00e1ln\u00ed rezervn\u00ed syst\u00e9m. \u0158\u00edkejte tomu \u201ekontrola v\u00fdnosov\u00e9 k\u0159ivky\u201c. \u0158\u00edkejte tomu \u201ekvantitativn\u00ed uvol\u0148ov\u00e1n\u00ed\u201c. \u0158\u00edkejte tomu \u201enouzov\u00e9 opat\u0159en\u00ed na udr\u017een\u00ed trhu\u201c, pokud chcete, aby to zn\u011blo dostate\u010dn\u011b nudn\u011b pro finan\u010dn\u00ed televizi. V podstat\u011b se to scvrk\u00e1v\u00e1 na stejn\u00e9 z\u00e1kladn\u00ed rozhodnut\u00ed: sn\u00ed\u017eit n\u00e1klady na financov\u00e1n\u00ed dluhu a nechat m\u011bnu absorbovat \u010d\u00e1st dopad\u016f.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A pr\u00e1v\u011b proto jsou tyto zd\u00e1nliv\u011b obskurn\u00ed p\u0159\u00edb\u011bhy o zlat\u011b v\u00fdznamn\u00e9. Nizozemsko neopou\u0161t\u00ed Ameriku. Francie nevyhla\u0161uje v\u00e1lku dolaru. N\u011bmecko nevypr\u00e1zdnilo newyorsk\u00fd Fed, proto\u017ee o\u010dek\u00e1valo apokalypsu. D\u011bje se n\u011bco rafinovan\u011bj\u0161\u00edho.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Centr\u00e1ln\u00ed banky nakupuj\u00ed obrovsk\u00e9 mno\u017estv\u00ed aktiv bez rizika protistrany a st\u00e1le v\u00edce up\u0159ednost\u0148uj\u00ed fyzickou kontrolu, dostupnost a geografickou diverzifikaci. Z\u00e1rove\u0148 americk\u00fd dluh p\u0159ekro\u010dil 40 bilion\u016f dolar\u016f a trh s dluhopisy po\u017eaduje st\u00e1le vy\u0161\u0161\u00ed sazby pro financov\u00e1n\u00ed vl\u00e1d po cel\u00e9m sv\u011bt\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u011bnov\u00fd syst\u00e9m je hra zalo\u017een\u00e1 na d\u016fv\u011b\u0159e. Proto se zam\u011b\u0159uji na zd\u016frazn\u011bn\u00ed potenci\u00e1ln\u00edch segment\u016f trhu, kter\u00e9 nelze tisknout a kter\u00e9 mohou inflaci bu\u010f uniknout, nebo z n\u00ed profitovat.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tak\u017ee pokud se jin\u00fd spojenec USA rozhodne, \u017ee by b\u011bhem p\u0159\u00ed\u0161t\u00ed krize rad\u011bji skladoval v New Yorku podstatn\u011b m\u00e9n\u011b sv\u00e9ho zlata, vezmu si toho na v\u011bdom\u00ed. M\u016f\u017eete to nazvat diverzifikac\u00ed, p\u0159ipravenost\u00ed na krizi nebo zlep\u0161enou obchodovatelnost\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ti blbci u moci maj\u00ed v\u017edycky skv\u011blou slovn\u00ed z\u00e1sobu, aby se vyhnuli o\u010dividn\u00e9mu. \u0158eknu to prost\u011b tak, jak to vid\u00edm j\u00e1: Kdy\u017e ztrat\u00edte v\u00edru v americk\u00fd finan\u010dn\u00ed syst\u00e9m, sund\u00e1te \u017eetony ze stolu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">***<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Od Tylera Durdena<br \/>\n<\/span><\/em><em><span dir=\"auto\">P\u0159edlo\u017eila spole\u010dnost\u00a0<\/span><\/em><em><span dir=\"auto\">Fringe Finance z QTR<\/span><\/em><\/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\/markets\/rush-pull-gold-out-us\" 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>V\u010dera se objevily zpr\u00e1vy, \u017ee Nizozemsko pr\u00e1v\u011b p\u0159esunulo asi 86 tun sv\u00fdch zlat\u00fdch rezerv z&#8230;<\/p>\n","protected":false},"author":2,"featured_media":115257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[4609,37,693],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/115256"}],"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=115256"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/115256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/115257"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=115256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=115256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=115256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}