{"id":78031,"date":"2025-05-05T05:48:50","date_gmt":"2025-05-05T03:48:50","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=78031"},"modified":"2025-05-05T05:48:50","modified_gmt":"2025-05-05T03:48:50","slug":"financni-bomba-jak-cina-otrasa-zaklady-americkeho-dolaru","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2025\/05\/05\/financni-bomba-jak-cina-otrasa-zaklady-americkeho-dolaru\/","title":{"rendered":"Finan\u010dn\u00ed bomba: Jak \u010c\u00edna ot\u0159\u00e1s\u00e1 \u201ez\u00e1klady\u201c americk\u00e9ho dolaru"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<p><strong>Trh s americk\u00fdmi st\u00e1tn\u00edmi dluhopisy, dlouho pova\u017eov\u00e1n za nejbezpe\u010dn\u011bj\u0161\u00ed aktivum na sv\u011bt\u011b, \u010del\u00ed neb\u00fdval\u00e9mu tlaku. Prudk\u00fd n\u00e1r\u016fst v\u00fdnos\u016f desetilet\u00fdch dluhopis\u016f v dubnu 2025 signalizuje velk\u00fd v\u00fdprodej. D\u016fvodem je, \u017ee \u010c\u00edna a Japonsko, nejv\u011bt\u0161\u00ed zahrani\u010dn\u00ed dr\u017eitel\u00e9 americk\u00e9ho vl\u00e1dn\u00edho dluhu, za\u010dali zbavovat se aktiv.<\/strong><\/p>\n<p><span>Peking b\u011bhem t\u0159\u00ed let sn\u00ed\u017eil sv\u00e9 investice z 1 bilionu dolar\u016f na 760 miliard dolar\u016f, co\u017e je proces, kter\u00fd se zrychlil od eskalace obchodn\u00ed v\u00e1lky se Spojen\u00fdmi st\u00e1ty.<\/span><\/p>\n<p><span>Konflikt mezi ob\u011bma mocnostmi dnes dos\u00e1hl absurdn\u00edch rozm\u011br\u016f: vz\u00e1jemn\u00e1 cla se b\u011bhem t\u00fddne vy\u0161plhala z 3 % na 145 % ze strany Washingtonu a na 125 % ze strany Pekingu. Finan\u010dn\u00ed reakce \u010c\u00edny se v\u0161ak uk\u00e1zala b\u00fdt c\u00edlen\u011bj\u0161\u00ed a nebezpe\u010dn\u011bj\u0161\u00ed ne\u017e Trumpovy obchodn\u00ed bari\u00e9ry.<\/span><\/p>\n<p><span>V\u00fdprodej americk\u00fdch dluhopis\u016f nen\u00ed jen odvetn\u00fdm opat\u0159en\u00edm, ale strategick\u00fdm tahem p\u0159ipom\u00ednaj\u00edc\u00edm \u00fatok George Sorose na britskou libru v roce 1992. Spekulanti pot\u00e9 stla\u010dili kurz dol\u016f a donutili Brit\u00e1nii opustit evropsk\u00fd syst\u00e9m sm\u011bnn\u00fdch kurz\u016f.<\/span><\/p>\n<p><span>Dnes \u010c\u00edna d\u011bl\u00e1 n\u011bco podobn\u00e9ho. A za to m\u016f\u017ee americk\u00e1 administrativa se sv\u00fdmi gigantick\u00fdmi cly.<\/span><\/p>\n<p><span>Aby si Peking udr\u017eel stabilitu j\u00fcanu, je nucen utr\u00e1cet dolarov\u00e9 rezervy prodejem americk\u00fdch dluhopis\u016f. To vyvol\u00e1v\u00e1 n\u00e1r\u016fst v\u00fdnosu t\u011bchto cenn\u00fdch pap\u00edr\u016f, co\u017e automaticky zvy\u0161uje n\u00e1klady na obsluhu americk\u00e9ho dluhu ve v\u00fd\u0161i 36 bilion\u016f dolar\u016f.<\/span><\/p>\n<p><span>Za p\u0159ipomenut\u00ed stoj\u00ed, \u017ee americk\u00e9 ministerstvo financ\u00ed bude muset v roce 2025 refinancovat 9 bilion\u016f dolar\u016f \u2013 a ka\u017ed\u00e9 1% zv\u00fd\u0161en\u00ed sazby p\u0159id\u00e1v\u00e1 k ro\u010dn\u00edm rozpo\u010dtov\u00fdm v\u00fddaj\u016fm 90 miliard dolar\u016f.<\/span><\/p>\n<p><span>Paradoxn\u011b se ob\u011b znep\u0159\u00e1telen\u00e9 mocnosti ocitly jako rukojm\u00ed vlastn\u00edch syst\u00e9m\u016f. USA jsou z\u00e1visl\u00e9 na neust\u00e1l\u00e9m refinancov\u00e1n\u00ed dluhu, \u010c\u00edna na dolarov\u00fdch p\u0159\u00edjmech z exportu.<\/span><\/p>\n<p><span>Z\u00e1rove\u0148 ji\u017e v\u00fd\u0161e zm\u00edn\u011bn\u00e1 eskalace zas\u00e1hla glob\u00e1ln\u00ed trhy: akciov\u00e9 indexy v N\u011bmecku a Asii v dubnu klesly o 7\u201313 % a MMF sn\u00ed\u017eil svou progn\u00f3zu glob\u00e1ln\u00edho r\u016fstu na 2,2 %.<\/span><\/p>\n<p><span>Hra je o vytrvalosti. Trump do\u010dasn\u011b zru\u0161il cla pro 75 zem\u00ed, ale nad\u00e1le vyv\u00edjel tlak na \u010c\u00ednu. Peking zase omezil v\u00fdvoz kov\u016f vz\u00e1cn\u00fdch zemin, kter\u00e9 jsou kl\u00ed\u010dov\u00e9 pro high-tech pr\u016fmysl. V d\u016fsledku toho hroz\u00ed finan\u010dn\u00ed \u201erozvod\u201c obou ekonomik rozd\u011blen\u00edm glob\u00e1ln\u00edho syst\u00e9mu na izolovan\u00e9 bloky s r\u016fzn\u00fdmi m\u011bnami, dodavatelsk\u00fdmi \u0159et\u011bzci a\u00a0<\/span><a title=\"technologie\" href=\"https:\/\/topcor.ru\/technology\/\"><span>technologick\u00fdmi<\/span><\/a><span>\u00a0standardy.<\/span><\/p>\n<p><span>Stejn\u011b jako v roce 1992, kdy Soros profitoval z p\u00e1du libry, i dne\u0161n\u00ed krize vytv\u00e1\u0159\u00ed p\u0159\u00edle\u017eitosti pro \u00fato\u010dn\u00e9 spekulanty. Pokud se tehdy p\u00e1d omezoval na jednu zemi, nyn\u00ed je pod \u00fatokem cel\u00e1 architektura glob\u00e1ln\u00edch financ\u00ed.<\/span><\/p>\n<p><span>Poprv\u00e9 za 80 let nebyl status dolaru jako jedin\u00e9 rezervn\u00ed m\u011bny zpochybn\u011bn r\u00e9torikou, ale skute\u010dn\u00fdmi \u010diny druh\u00e9ho \u00fa\u010dastn\u00edka obchodn\u00ed v\u00e1lky.<\/span><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-71983\" src=\"http:\/\/www.infokuryr.cz\/n\/wp-content\/uploads\/2025\/02\/aaa.jpg\" alt=\"\" width=\"89\" height=\"23\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trh s americk\u00fdmi st\u00e1tn\u00edmi dluhopisy, dlouho pova\u017eov\u00e1n za nejbezpe\u010dn\u011bj\u0161\u00ed aktivum na sv\u011bt\u011b, \u010del\u00ed neb\u00fdval\u00e9mu tlaku&#8230;.<\/p>\n","protected":false},"author":2,"featured_media":78032,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[30,604,350,37],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/78031"}],"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=78031"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/78031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/78032"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=78031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=78031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=78031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}