{"id":14796,"date":"2021-02-23T21:18:41","date_gmt":"2021-02-23T12:18:41","guid":{"rendered":"https:\/\/mrtzzz.com\/blog\/?p=14796"},"modified":"2021-02-23T21:18:41","modified_gmt":"2021-02-23T12:18:41","slug":"inflation_to_come_will_not_be_inflation-resistant_gold","status":"publish","type":"post","link":"https:\/\/mrtzzz.com\/blog\/2021\/02\/23\/inflation_to_come_will_not_be_inflation-resistant_gold\/","title":{"rendered":"\u6765\u305f\u308b\u3079\u304d\u30a4\u30f3\u30d5\u30ec\u3067\u306f\u300c\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044\u91d1\u300d\u306b\u306f\u306a\u3089\u306a\u3044\uff01"},"content":{"rendered":"<p>\u682a\u4fa1\u304c2\u670815\u65e5\u306e\u9031\u306b\u5165\u3063\u3066\u9023\u65e5\u306e\u65b0\u9ad8\u5024\u66f4\u65b0\u3067\u3059\u3002<\/p>\n<p>\u65e5\u7d4c\u5e73\u5747\u306b\u81f3\u3063\u3066\u306f30\u5e74\u3076\u308a\u306e\u9ad8\u5024\u3067\u3001\u30d0\u30d6\u30eb\u7d4c\u6e08\u671f\u3068\u682a\u4fa1\u304c\u4e00\u7dd2\u3068\u30e1\u30c7\u30a3\u30a2\u306f\u5927\u9a12\u304e\u3002<\/p>\n<p>\u4eca\u56de\u306f\u3001\u3053\u306e\u3053\u3068\u306b\u95a2\u3057\u3066\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<h2>\u30d0\u30d6\u30eb\u6642\u4ee3\u3068\u682a\u4fa1\u304c\u4e00\u7dd2\u306a\u3089\u666f\u6c17\u306f\u3044\u3044\u306e\uff1f<\/h2>\n<figure id=\"attachment_14790\" aria-describedby=\"caption-attachment-14790\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14790\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Is_the_economy_good_with_the_bubble_era.jpg\" alt=\"\" width=\"400\" height=\"267\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Is_the_economy_good_with_the_bubble_era.jpg 400w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Is_the_economy_good_with_the_bubble_era-300x200.jpg 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Is_the_economy_good_with_the_bubble_era-375x250.jpg 375w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-14790\" class=\"wp-caption-text\">2021\u5e741\u6708\u3001\u98f2\u98df\u5e97\u306e\u6642\u77ed\u55b6\u696d\u8981\u8acb\u4e0b\u3067\u4eba\u5f71\u3082\u307e\u3070\u3089\u306a\u65b0\u5bbf\u3001\u6b4c\u821e\u4f0e\u753a\u524d<\/figcaption><\/figure>\n<p>\u3082\u306f\u3084\u82e5\u3044\u65b9\u306f\u65e5\u672c\u306e\u30d0\u30d6\u30eb\u6642\u4ee3\u3092\u3054\u5b58\u3058\u306a\u3044\u3067\u3057\u3087\u3046\u3057\u3001\u5f53\u6642\u3092\u751f\u304d\u305f\u8005\u306b\u3068\u3063\u3066\u3082\u7686\u304c\u305d\u306e\u5b9f\u611f\u304c\u3042\u308b\u3068\u3044\u3046\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p>\u8a00\u3048\u308b\u3053\u3068\u306f\u3001\u30d0\u30d6\u30eb\u3067\u72c2\u4e71\u3057\u3066\u3044\u305f\u306e\u306f\u4e00\u90e8\u306e\u4eba\u305f\u3061\u3067\u3042\u308a\u3001\u305d\u306e\u307b\u304b\u306e\u4eba\u305f\u3061\u306f\u307b\u3068\u3093\u3069\u666e\u901a\u306e\u751f\u6d3b\u3092\u9001\u3063\u3066\u3044\u305f\u3068\u3044\u3046\u3053\u3068\u3002<\/p>\n<p>\u71b1\u72c2\u3057\u3066\u3044\u305f\u306e\u306f\u682a\u3084\u4e0d\u52d5\u7523\u306a\u3069\u306e\u8cc7\u7523\u3092\u6301\u3063\u3066\u3044\u305f\u4eba\u3067\u3001\u305d\u306e\u4eba\u305f\u3061\u306f\u6295\u8cc7\u3092\u3059\u308c\u3070\u5132\u304b\u308b\u3068\u3044\u3046\u72b6\u614b\u3067\u3057\u305f\u306e\u3067\u3001\u71b1\u72c2\u3057\u3066\u3044\u305f\u306e\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u305d\u306e\u6642\u306e\u682a\u4fa1\u3068\u73fe\u5728\u306e\u682a\u4fa1\u304c\u4e26\u3093\u3060\u3068\u3044\u3046\u3053\u3068\u304c\u73fe\u5728\u306e\u30cb\u30e5\u30fc\u30b9\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u304c\u3001\u7686\u5b9f\u611f\u304c\u306a\u3044\u3068\u3044\u3046\u306e\u304c\u672c\u97f3\u3002<\/p>\n<p>\u3067\u306f\u3001\u306a\u305c\u682a\u4fa1\u304c\u9ad8\u304f\u306a\u3063\u3066\u3082\u666f\u6c17\u306e\u3088\u3055\u3092\u611f\u3058\u3089\u308c\u306a\u3044\u306e\u304b\u3092\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<h2>\u73fe\u5728\u306e\u682a\u4fa1\u306f\u5b8c\u5168\u306b\u30a4\u30f3\u30d5\u30ec\u76f8\u5834<\/h2>\n<p>\u307e\u305a\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u3082\u306e\u306f\u4f55\u304b\u3092\u5b9a\u7fa9\u3057\u306a\u3051\u308c\u3070\u3044\u3051\u307e\u305b\u3093\u3002<\/p>\n<p>\u304a\u305d\u3089\u304f\u3001\u307b\u3068\u3093\u3069\u306e\u4eba\u306b\u3068\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u306e\u610f\u5473\u306e\u7406\u89e3\u306f\u3001\u7269\u4fa1\u304c\u4e0a\u6607\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3053\u306e\u89e3\u91c8\u306f\u3042\u308b\u610f\u5473\u3067\u306f\u6b63\u3057\u3044\u306e\u3067\u3059\u304c\u3001\u7269\u4fa1\u306e\u4e0a\u6607\u306f\u6d3e\u751f\u73fe\u8c61\u3067\u3042\u308a\u3001\u672c\u6765\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u610f\u5473\u3068\u306f\u9055\u3044\u307e\u3059\u3002<\/p>\n<p>\u4eca\u306e\u30a4\u30f3\u30d5\u30ec\u3068\u306f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u6e1b\u5c11\u3059\u308b\u3053\u3068\u306b\u6d3e\u751f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4f8b\u3048\u3070\u3001\u30a2\u30e1\u30ea\u30ab\u3068\u65e5\u672c\u306e\u5b9f\u52b9\u70ba\u66ff\u30ec\u30fc\u30c8\u3092\u63b2\u51fa\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-14793\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US.png\" alt=\"\" width=\"600\" height=\"392\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US.png 600w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US-300x196.png 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US-375x245.png 375w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-14791\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/JP.png\" alt=\"\" width=\"600\" height=\"392\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/JP.png 600w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/JP-300x196.png 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/JP-375x245.png 375w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<p>\u65e5\u7c73\u3068\u3082\u306b\u3001\u5b9f\u52b9\u70ba\u66ff\u30ec\u30fc\u30c8\u306f2020\u5e743\u6708\u3092\u982d\u306b\u30c0\u30c0\u4e0b\u304c\u308a\u306b\u306a\u3063\u3066\u3044\u308b\u72b6\u614b\u3067\u3059\u3002<\/p>\n<p>\u30c9\u30eb\u3084\u5186\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u3063\u3066\u304a\u308a\u3001\u4eca\u5f8c\u3082\u91d1\u878d\u7de9\u548c\u306b\u3088\u3063\u3066\u4fa1\u5024\u304c\u4e0b\u304c\u308b\u306e\u3067\u3042\u308c\u3070\u3001\u7686\u306f\u30c9\u30eb\u3084\u5186\u3068\u3044\u3046\u73fe\u91d1\u3092\u58f2\u5374\u3057\u3066\u3001\u4e0d\u52d5\u7523\u3084\u682a\u5f0f\u3092\u8cfc\u5165\u3057\u3066\u3044\u308b\u3060\u3051\u306e\u8a71\u3067\u3059\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u4eca\u306e\u682a\u4fa1\u306f\u5358\u7d14\u306b\u901a\u8ca8\u4fa1\u5024\u306e\u6e1b\u5c11\u306b\u4f34\u3063\u3066\u3001\u76f8\u5bfe\u7684\u306b\u9ad8\u304f\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u30671980\u301c90\u5e74\u4ee3\u306e\u3044\u308f\u3086\u308b\u65e5\u672c\u306e\u30d0\u30d6\u30eb\u306f\u3001\u901a\u8ca8\u4fa1\u5024\u304c\u4e0a\u6607\u3057\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u4e0a\u6607\u3057\u3066\u3044\u306a\u304c\u3089\u3082\u682a\u4fa1\u304c\u4e0a\u6607\u3057\u305f\u306e\u3067\u3059\u304b\u3089\u3001\u3064\u307e\u308a\u306f\u666f\u6c17\u304c\u3088\u304b\u3063\u305f\u306e\u3067\u3059\u3002<\/p>\n<p>\u53cd\u5bfe\u306b\u73fe\u5728\u306e\u682a\u4fa1\u306f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u6e1b\u5c11\u3057\u3066\u76f8\u5bfe\u7684\u306b\u682a\u4fa1\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3060\u3051\u306e\u8a71\u3067\u3059\u304b\u3089\u30011980\u301c90\u5e74\u4ee3\u306e\u307b\u3046\u304c\u5727\u5012\u7684\u306b\u666f\u6c17\u304c\u3044\u3044\u306e\u3067\u3059\u3002<\/p>\n<h2>\u4eca\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u524d\u54e8\u6226<\/h2>\n<p>\u30a4\u30f3\u30d5\u30ec\u3068\u306f\u3001\u901a\u8ca8\u306e\u4fa1\u5024\u304c\u6bc0\u640d\u3057\u3066\u3044\u304f\u3053\u3068\u306b\u3088\u3063\u3066\u8d77\u3053\u308a\u307e\u3059\u3002<\/p>\n<p>\u73fe\u5728\u306e\u3088\u3046\u306b\u304a\u91d1\u306e\u4fa1\u5024\u304c\u3069\u3093\u3069\u3093\u4e0b\u304c\u3063\u3066\u3044\u304d\u3001\u7d50\u679c\u3001\u7269\u4fa1\u304c\u4e0a\u6607\u3059\u308b\u3068\u3044\u3046\u73fe\u8c61\u3092\u6307\u3059\u306e\u3067\u3059\u3002<\/p>\n<p>\u4eca\u306e\u72b6\u614b\u3092\u898b\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>\u4ee5\u4e0b\u306f\u30c9\u30eb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<figure id=\"attachment_14787\" aria-describedby=\"caption-attachment-14787\" style=\"width: 746px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/tradingeconomics.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14787\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Dollar-index.png\" alt=\"\" width=\"746\" height=\"468\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Dollar-index.png 746w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Dollar-index-300x188.png 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Dollar-index-375x235.png 375w\" sizes=\"(max-width: 746px) 100vw, 746px\" \/><\/a><figcaption id=\"caption-attachment-14787\" class=\"wp-caption-text\"><em>\u53c2\u7167\u5143\uff1aTRADING ECONOMICS<\/em><\/figcaption><\/figure>\n<p>\u4ee5\u4e0b\u306f\u3001\u30a2\u30e1\u30ea\u30ab10\u5e74\u50b5\u5229\u56de\u308a\u3067\u3059\u3002<\/p>\n<figure id=\"attachment_14794\" aria-describedby=\"caption-attachment-14794\" style=\"width: 746px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/tradingeconomics.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14794\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US10Y.png\" alt=\"\" width=\"746\" height=\"468\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US10Y.png 746w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US10Y-300x188.png 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/US10Y-375x235.png 375w\" sizes=\"(max-width: 746px) 100vw, 746px\" \/><\/a><figcaption id=\"caption-attachment-14794\" class=\"wp-caption-text\"><em>\u53c2\u7167\u5143\uff1aTRADING ECONOMICS<\/em><\/figcaption><\/figure>\n<p>\u3053\u306e\u72b6\u614b\u306f\u901a\u8ca8\u304c\u4e0b\u304c\u308a\u3001\u91d1\u5229\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u72b6\u614b\u3067\u3059\u3002<\/p>\n<p>\u30a4\u30f3\u30d5\u30ec\u3068\u306f\u3001\u901a\u8ca8\u4fa1\u5024\u304c\u4e0b\u304c\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u3053\u3068\u3092\u610f\u5473\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u7269\u4fa1\u3060\u3068\u3044\u3046\u3053\u3068\u3092\u304a\u8a71\u3057\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u3053\u306e\u5834\u5408\u3001\u91d1\u5229\u306f\u4f55\u306e\u6839\u62e0\u3082\u306a\u304f\u4e0a\u304c\u308b\u308f\u3051\u3082\u306a\u304f\u3001\u30c9\u30eb\u304c\u4e0b\u304c\u3063\u305f\u304b\u3089\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u305d\u3057\u3066\u3001\u3053\u306e\u91d1\u5229\u306b\u7269\u4fa1\u304c\u4e0a\u6607\u3057\u3066\u3044\u304f\u5faa\u74b0\u306e\u904e\u7a0b\u306a\u306e\u3067\u3059\u3002<\/p>\n<p>\u307e\u3060\u7269\u4fa1\u306f\u4e0a\u6607\u3057\u3066\u3044\u307e\u305b\u3093\u304c\u3001\u4eca\u5f8c\u6570\u30f5\u6708\u4ee5\u5185\u306b\u52e2\u3044\u3088\u304f\u4e0a\u304c\u3063\u3066\u3044\u304f\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u682a\u4fa1\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u306e\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u5148\u53d6\u308a\u3057\u3066\u3044\u308b\u3060\u3051\u306e\u8a71\u3002<\/p>\n<p>\u3053\u306e\u72b6\u614b\u306f\u4e0d\u666f\u6c17\u3067\u7269\u4fa1\u3060\u3051\u304c\u4e0a\u6607\u3001\u305d\u3057\u3066\u304a\u7d66\u6599\u306f\u4e0d\u666f\u6c17\u306a\u306e\u3067\u636e\u3048\u7f6e\u304d\u306a\u306e\u3067\u3059\u304b\u3089\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u4e2d\u3067\u3082\u6700\u60aa\u306a\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n<p>\u3053\u3046\u3044\u3046\u72b6\u614b\u306b\u306a\u308c\u3070\u4e89\u4e71\u3084\u885d\u7a81\u306a\u3069\u304c\u591a\u304f\u306a\u308a\u3001\u4e16\u754c\u304c\u4e0d\u5b89\u5b9a\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h2>\u30b5\u30de\u30fc\u30ba\u306e\u8b66\u544a<\/h2>\n<figure id=\"attachment_14792\" aria-describedby=\"caption-attachment-14792\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14792\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Summers_warning.jpg\" alt=\"\" width=\"400\" height=\"267\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Summers_warning.jpg 400w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Summers_warning-300x200.jpg 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Summers_warning-375x250.jpg 375w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-14792\" class=\"wp-caption-text\">\u4e16\u754c\u9280\u884c\u306e\u30c1\u30fc\u30d5\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u3084\u30cf\u30fc\u30d0\u30fc\u30c9\u5927\u5b66\u5b66\u9577\u306a\u3069\u3092\u6b74\u4efb\u3057\u305f\u30b5\u30de\u30fc\u30ba\u5143\u8ca1\u52d9\u9577\u5b98<\/figcaption><\/figure>\n<p><span class=\"marker-thickRed\">\u30ed\u30fc\u30ec\u30f3\u30b9\u30fb\u30b5\u30de\u30fc\u30ba\u306f\u30aa\u30d0\u30de\u653f\u6a29\u6642\u306e\u8ca1\u52d9\u9577\u5b98\u3067\u3001\u305d\u306e\u8457\u66f8\u3092\u8aad\u3081\u3070\u304a\u308f\u304b\u308a\u306e\u3068\u304a\u308a\u3001\u982d\u306e\u5207\u308c\u5177\u5408\u306f\u672c\u7269\u306e\u5929\u624d\u3068\u8a00\u3063\u3066\u3082\u904e\u8a00\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<p>\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306e\u3088\u3046\u306b\u3001\u305d\u306e\u30b5\u30de\u30fc\u30ba\u5143\u8ca1\u52d9\u9577\u5b98\u306b\u5bfe\u3057\u3066\u3001\u30a4\u30a8\u30ec\u30f3\u73fe\u8ca1\u52d9\u9577\u5b98\u306f\u300c\u30a4\u30f3\u30d5\u30ec\u306a\u3069\u8d77\u3053\u3089\u306a\u3044\u300d\u3068\u53cd\u767a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<blockquote>\n<p><a href=\"https:\/\/jp.reuters.com\/article\/summers-idJPKBN2AF0AJ\">https:\/\/jp.reuters.com\/article\/summers-idJPKBN2AF0AJ<\/a><\/p>\n<p><em>\u5f15\u7528\u5143\uff1a\u30ed\u30a4\u30bf\u30fc<\/em><\/p>\n<\/blockquote>\n<p>\u307b\u304b\u306b\u30ce\u30fc\u30d9\u30eb\u7d4c\u6e08\u5b66\u8005\u306e\u30dd\u30fc\u30eb\u30fb\u30af\u30eb\u30fc\u30b0\u30de\u30f3\u3082\u53cd\u767a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u4e0a\u8a18\u3067\u8aac\u660e\u3057\u305f\u901a\u308a\u3001\u8ab0\u304c\u3069\u3046\u898b\u305f\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u306e\u524d\u54e8\u6226\u3067\u3059\u3002<\/p>\n<p>\u307e\u305a\u3001\u901a\u8ca8\u4fa1\u5024\u304c\u6e1b\u5c11\u3057\u3066\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u6570\u30f5\u6708\u5f8c\u306b\u306f\u7269\u4fa1\u304c\u4e0a\u6607\u3057\u3066\u3044\u304f\u3053\u3068\u3092\u610f\u5473\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u30a4\u30a8\u30ec\u30f3\u8ca1\u52d9\u9577\u5b98\u306f\u3001\u7269\u4fa1\u304c\u4e0a\u6607\u3057\u306a\u3044\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\u306e\u3067\u3059\u304c\u3001\u3053\u306e\u3088\u3046\u306a\u91d1\u5229\u4e0a\u6607\u3067\u306f\u904e\u53bb\u306e\u30c7\u30fc\u30bf\u304b\u3089\u306f\u7269\u4fa1\u306f\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n<p>\u3059\u306a\u308f\u3061\u3001\u7269\u4fa1\u304c\u4e0a\u6607\u3057\u306a\u3044\u3068\u3044\u3046\u8ad6\u62e0\u304c\u306a\u3044\u306e\u3067\u3059\u3002<\/p>\n<h2>\u30a4\u30a8\u30ec\u30f3\u306e\u30b8\u30ec\u30f3\u30de<\/h2>\n<figure id=\"attachment_14795\" aria-describedby=\"caption-attachment-14795\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14795\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Yellens_dilemma.jpg\" alt=\"\" width=\"400\" height=\"267\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Yellens_dilemma.jpg 400w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Yellens_dilemma-300x200.jpg 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Yellens_dilemma-375x250.jpg 375w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-14795\" class=\"wp-caption-text\">2014\u5e74\u301c2018\u5e74\u307e\u3067\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u3067\u3042\u308bFRB\u8b70\u9577\u3092\u52d9\u3081\u30012021\u5e74\u304b\u3089\u30d0\u30a4\u30c7\u30f3\u653f\u6a29\u306e\u8ca1\u52d9\u9577\u5b98\u306b\u5c31\u4efb\u3057\u305f\u30b8\u30e3\u30cd\u30c3\u30c8\u30fb\u30a4\u30a8\u30ec\u30f3<\/figcaption><\/figure>\n<p>\u30a4\u30a8\u30ec\u30f3\u8ca1\u52d9\u9577\u5b98\u306f\u30b5\u30de\u30fc\u30ba\u5143\u8ca1\u52d9\u9577\u5b98\u306b\u53cd\u767a\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u73fe\u72b6\u30a4\u30f3\u30d5\u30ec\u306e\u4f0f\u7dda\u304c\u3042\u308b\u3053\u3068\u306f\u8a8d\u3081\u306a\u3044\u3068\u3044\u3051\u306a\u3044\u72b6\u614b\u3067\u3042\u308a\u3001\u306a\u3093\u3089\u304b\u306e\u5bfe\u7b56\u3092\u8b1b\u3058\u308b\u5fc5\u8981\u304c\u3042\u308b\u3068\u8a8d\u3081\u306a\u3044\u3068\u3044\u3051\u306a\u3044\u72b6\u614b\u3067\u3059\u3002<\/p>\n<p>\u305d\u306e\u3068\u304d\u306b\u884c\u3046\u306e\u306f\u3001<\/p>\n<blockquote>\n<p>\u30101\u3011\u300c\u30c9\u30eb\u5b89\u3092\u5bb9\u8a8d\u3057\u306a\u3044\u300d\u3068\u518d\u3073\u767a\u8a00\u3059\u308b<br \/>\n\u30102\u3011\u91d1\u5229\u306e\u5f15\u304d\u4e0b\u3052\u3001\u3059\u306a\u308f\u3061FRB\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff09\u3068\u9023\u643a\u3057\u3066\u653f\u7b56\u91d1\u5229\u306e\u5f15\u304d\u4e0b\u3052\u3092\u884c\u3046<\/p>\n<\/blockquote>\n<p>\u3068\u3044\u30462\u3064\u306e\u9078\u629e\u80a2\u3057\u304b\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n<p>\u3068\u306a\u308b\u3068\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u554f\u984c\u3067\u30102\u3011\u306e\u9078\u629e\u80a2\u306f\u53d6\u308c\u305a\u3001\u8ca1\u52d9\u9577\u5b98\u6307\u540d\u516c\u8074\u4f1a\u3068\u540c\u69d8\u306b\u300c\u30c9\u30eb\u5b89\u3092\u5bb9\u8a8d\u3057\u306a\u3044\u300d\u3068\u8a00\u3046\u306b\u6c7a\u307e\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u305d\u308c\u3092\u53e3\u306b\u51fa\u3059\u3068\u682a\u4fa1\u304c\u4e0b\u843d\u3059\u308b\u306e\u3067\u3001\u30a4\u30a8\u30ec\u30f3\u8ca1\u52d9\u9577\u5b98\u306f\u8a00\u3044\u305f\u304f\u306a\u3044\u306e\u3067\u3059\u3002<\/p>\n<p>\u3060\u304b\u3089\u30b5\u30de\u30fc\u30ba\u5143\u8ca1\u52d9\u9577\u5b98\u306e\u610f\u898b\u306f\u6b63\u3057\u3044\u306e\u3067\u3059\u304c\u3001\u305d\u308c\u3092\u8a8d\u3081\u308b\u3068\u300c\u30c9\u30eb\u5b89\u306f\u5bb9\u8a8d\u3057\u306a\u3044\u300d\u3068\u8a00\u308f\u306a\u304f\u3066\u306f\u3044\u3051\u306a\u3044\u72b6\u614b\u306b\u306a\u308b\u306e\u3067\u53cd\u5bfe\u3057\u3066\u3044\u308b\u3060\u3051\u3002<\/p>\n<p>\u3044\u305a\u308c\u8a00\u308f\u3056\u308b\u3092\u5f97\u306a\u3044\u72b6\u6cc1\u306b\u8ffd\u3044\u8fbc\u307e\u308c\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3059\u306a\u308f\u3061\u4eca\u306e\u682a\u4fa1\u306f\u7802\u4e0a\u306e\u697c\u95a3\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n<h2>\u300c\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044\u91d1\u300d\u306b\u306f\u306a\u3089\u306a\u3044<\/h2>\n<figure id=\"attachment_14789\" aria-describedby=\"caption-attachment-14789\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14789\" src=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Inflation-resistant_gold.jpg\" alt=\"\" width=\"400\" height=\"253\" srcset=\"https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Inflation-resistant_gold.jpg 400w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Inflation-resistant_gold-300x190.jpg 300w, https:\/\/mrtzzz.com\/blog\/wp-content\/uploads\/2021\/02\/Inflation-resistant_gold-375x237.jpg 375w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-14789\" class=\"wp-caption-text\">\u3072\u3068\u53e3\u306b\u300c\u30a4\u30f3\u30d5\u30ec\u306b\u5f37\u3044\u91d1\u300d\u3068\u306f\u8a00\u3046\u304c\u2026<\/figcaption><\/figure>\n<p>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u306e\u95a2\u4fc2\u306b\u306a\u308c\u3070\u3001\u91d1\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u308c\u3070\u4e0a\u304c\u308b\u3068\u3044\u3046\u90fd\u5e02\u4f1d\u8aac\u304c\u3044\u307e\u3060\u306b\u306f\u3073\u3053\u3063\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u4eca\u56de\u306f\u9055\u3044\u307e\u3059\u3002<\/p>\n<p>\u304d\u3061\u3093\u3068\u6574\u7406\u3057\u3066\u304a\u4f1d\u3048\u3059\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u901a\u8ca8\u306e\u4e0b\u843d\u306b\u3088\u3063\u3066\u8d77\u3053\u308a\u307e\u3059\u3002<\/p>\n<p>\u91d1\u306e\u4fa1\u683c\u69cb\u6210\u8981\u56e0\u3001<\/p>\n<blockquote>\n<p>\u30101\u3011\u30c9\u30eb<br \/>\n\u30102\u3011\u91d1\u5229<br 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