黄金为何大幅上涨?
2025-02-16 JOJOyu 3850
正文翻译
黄金政治 经济学家迈克尔-赫德森(Michael Hudson)解释黄金价格大幅上涨的原因


评论翻译

@DanBurgaud
USA cannot print GOLD.
That should be enough reason why GOLD is gaining price.

美国不能印刷黄金。
这应该是黄金价格上涨的充分理由。

@alexanderpeca7080
As somebody already said, it is a huge win that you let the professor speaks without unnecessary interruptions. Thanks for the transcxt, too!

正如有人已经说过的,你让教授在没有不必要打断的情况下发言是一个巨大的胜利。也感谢提供文字记录!

@sjent
Only reason why US can live such a lavish life, while barely producing anything, is because rest of the world is paying for it. US financial system accounts for ~40% of US economy and that is solely because it gets to skimp trillions every year off world wealth and trade.
This is why Trump is losing his shit over dedollarization. Without rest of the world paying US bills, it economy will crash. On one side you have legion of parasites costing taxpayers trillions, creating huge and growing deficit, as number of people that generate value is falling. And on the other world is slowly moving away from dollar, only widening this deficit gap.
And what he does, instead of trying to play nice with rest of the world and cutting all the bloat stateside? He is further antagonizing other countries and does absolutely nothing to realistically curb waste. Whole DOGE thing is just for show, as it wont make substantial impact. While reducing waste by few hundred billions is still good, actual hole is measured in trillions. And that is just to zero out.

美国能够过上如此奢侈的生活,而几乎不生产任何东西的唯一原因是世界其他国家在为其买单。美国金融系统占美国经济的约40%,这仅仅是因为它每年从世界财富和贸易中节省了数万亿美元。
这就是为什么特朗普对去美元化如此抓狂。如果没有世界其他国家为美国买单,其经济将崩溃。一方面,你有大量寄生虫花费纳税人数万亿美元,造成巨大且不断增长的赤字,因为创造价值的人数在下降。另一方面,世界正在慢慢远离美元,只会扩大这一赤字缺口。
而他做了什么,他没有试图与世界其他国家友好相处并削减国内的所有臃肿。他进一步与其他国家对抗,并且在实际上遏制浪费方面毫无作为。整个政府效率部(DOGE)的事情只是作秀,因为它不会产生实质性的影响。虽然减少数百亿美元的浪费仍然是好的,但实际的缺口是以万亿美元计的,而这只是为了归零。

@lisasmith8164
Everybody's operating in the dark right now. 58;00 That says it all about the economy today. Love Michael's take and I never get tired of him no matter how much I listen to him. Always enlightening. Thank you for doing this podcast.

现在每个人都在黑暗中操作。58:00 这说明了当今经济的一切。我喜欢Michael的观点,无论我听他多少次,我都不会感到厌倦。总是很有启发性。感谢你做这个播客。

@stefanschouteden5196
Michael is simply my favourate speaker. Straight to the point. Extremely knowledgeable about these financial geopolitical subjects. Once again proving that politicans are beyond evil.

Michael简直是我最喜欢的演讲者,直截了当,他对这些金融地缘政治主题非常了解。这再次证明政客们是邪恶的。

@pauldeman8622
Michael Hudson is one of the very few economists worth to listen to. Why? Because he understands deeply the consequences of political and economical decisions made and helps us to see through.

Michael Hudson是少数值得一听的经济学家之一。为什么?因为他深刻理解政治和经济决策的后果并帮助我们看透。

@Oliveroots
Just about the only political analyst that's not talking out of both sides of his behind. Right here. No thinly veiled endorsements of America First along side confusing leftist proclamations.
Good for you Ben, thank you!

你几乎是唯一一个不两面派的政治分析家。就在这里。没有对美国优先的隐晦支持,也没有令人困惑的左派宣言。
干得好Ben,谢谢你!

@What_do_I_Think
Many go into Gold because of rising insecurity.
With the current state of the US government, trusting into the dollar is NO OPTION ANY MORE.

许多人因为不安全感上升而转向黄金。
鉴于美国政府的现状,信任美元已不再是一个选择。

@o_o8203
I'm 31 and I've been listening to Mr Hudson since I was in high school; I think I first saw him on The David Pakman Show (it was a loooong time ago lol), I'm so glad he's still giving important commentary in 2025!

我31岁,从高中起就一直在听Hudson先生的演讲;我想我第一次看到他是在The David Pakman Show上(那是很久以前的事了,哈哈),我很高兴他在2025年仍然提供重要的评论!

@matthewconnors2650
In addition to the YouTube ads for gold you mentioned, I am seeing more and more ads for dehydrated milk and eggs with shelf lives of 10+ years. Fight for socialism during the day, but prep for collapse at night? Too bad there's so much mercury in canned tuna. Thank you Ben (and several other new media interviewers) for realizing Michael Hudson's importance and providing him a platform to reach a wider audience!

除了你提到的YouTube黄金广告外,我还看到越来越多关于保质期10年以上的脱水牛奶和鸡蛋的广告。白天为社会主义而战,晚上为崩溃做准备?可惜罐装金枪鱼中有太多汞。感谢Ben(和其他几位新媒体采访者)认识到Michael Hudson的重要性并为他提供了一个接触更广泛受众的平台!

@alastairstaunton7081
Goldfinger wasn't trying to remove gold from Fort Knox. He wanted to detonate a small nuclear device, irradiate the facility and make that gold unusable, thereby increasing the value of his own stock. (Might be a good plan for the Fed as a cover up if there really is little or no gold there!)

Goldfinger并不是想从诺克斯堡移除黄金。他想引爆一个小型核装置,辐射设施并使那些黄金无法使用,从而增加他自己股票的价值(如果那里真的几乎没有黄金,这可能是美联储掩盖的一个好计划!)

@mycroftholmes766
My respect for Michael Hudson borders on hero worship. This is why I'm so surprised and disappointed with his relative ignorance concerning gold. He treats gold purely as a COMMODITY, and attempts to explain the market simply (simplistically) in supply/demand terms. Yet, he has the audacity to label so-called "gold bugs" as "crazies", merely because they embrace and understand the MONETARY side of the gold market.

我对Michael Hudson的尊敬近乎英雄崇拜,这就是为什么我对他对黄金的相对无知感到如此惊讶和失望。他将黄金纯粹视为一种商品并试图用供需关系简单地(过于简单地)解释市场。然而,他竟敢将所谓的“黄金虫”称为“疯子”,仅仅因为他们接受并理解黄金市场的货币面。
原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


@thescythian321
Professor Hudson always guarantees the highest calibre of programing as this episode demonstrates. I hope that in the next discussion, we will touch on Silver; that other, less mentioned but absolutely crucial form of Hard Money. Silver has always been the common man's Gold and its role may become pivotal in our relationship with money. I would very much like to hear Hudson's take on this. Thanks for your excellent work Mr Norton.

Hudson教授总是保证最高水准的节目,正如这一集所展示的。我希望在接下来的讨论中,我们能谈到白银;那种较少提及但绝对重要的硬通货形式。白银一直是普通人的黄金,它的作用可能在我们与货币的关系中变得关键。我非常想听听Hudson对此的看法。感谢你的出色工作,Norton先生。

@sl-lz3dw
One of the main reasons people don't see economics as politics is they don't really have a clear understanding of what either are. Politics is just everything to do with decision making in groups. Economics is group decision making on the production and distribution of goods and services. When you understand these two truths it is apparent that economics is just the branch of politics dealing with what to make and do and where (and who) to send the output to.

人们不把经济学视为政治的主要原因之一是他们并不真正清楚这两者是什么。政治只是与群体决策有关的一切。经济学是关于商品和服务生产和分配的群体决策。当你理解这两个真理时,很明显经济学只是政治的一个分支,它主要关于处理制造什么、做什么以及将产出发送到哪里(和谁)。
原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


@stanstreatfield3485
One of the great things about Michael Hudson apart from his knowledge and perspective on the economies of the planet, is his ability to get some humour into the discussion of the most dystopian future planned for us by corporations and their political puppets.

Michael Hudson除了对地球经济的知识和观点外,还有一个伟大的地方是他能够在讨论由公司及其政治傀儡为我们计划的最反乌托邦未来时加入一些幽默。

@boboho3928
US in the past 2 decades nearly no development, there is no free lunch now US lost jobs and manufacturing with high inflation����������eventually dollar will be toilet papers same fate to all fiat money

美国在过去20年几乎没有发展,现在没有免费的午餐,美国失去了工作和制造业,伴随着高通胀,最终美元将变成厕纸,所有法定货币的命运都一样。

@fishtailparkas
It doesn’t matter how they contort stats, inflation is rising and will continue to do so with the more dollars printed. Just ask those struggling to get by each month with the cost of living.

无论他们如何扭曲统计数据,通货膨胀都在上升,并且随着更多美元的印刷将继续上升。只要问问那些每月为生活成本而挣扎的人就知道了。

@kimlien3902
Wow interesting! After struggling financially in retirement, I've found success in the digital market, earning weekly. It's been a huge success, and I'm now more resilient to economic downturns.

哇,真有趣!在退休后在经济上挣扎后,我在数字市场上取得了成功,每周都有收入。这是一个巨大的成功,我现在对经济衰退更有抵抗力了。

@iralas
LMao gold can’t fluctuate. Dollar value can…
If gold is skyrocketing, that can REALLY only mean that you need more (less valuable, and progressively duing) dollars to buy it.

笑死我了,黄金不会波动,美元价值会……
如果黄金价格飙升,那真的只能意味着你需要更多(价值更低,并且逐渐贬值的)美元来购买它。

原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


@forwadnothing8212
1:04:00 I think China did that, only reason it worked is because they make everything, and their currency is based on the value of their products, not financial bubbles, also pretty sure taxes deflate the value of the money so it doesn't inflate too much.

1:04:00 我认为中国做到了,唯一的原因是他们在制造一切,他们的货币基于他们产品的价值而不是金融泡沫,我也相当确定税收会降低货币的价值,所以它不会膨胀太多。

@byrebbecca
I’ve learned more about how the world ACTUALLY works in the past two weeks since finding your channel than I have in the 42 years I’ve been alive on this planet. Thank you for all that you do!

在过去的两个星期里,自从找到你的频道以来,我学到了更多关于世界实际运作的知识,比我在这颗星球上生活的42年还要多。感谢你所做的一切!

@towhidenterprise2104
In coming 10 years young population growth will be the main issue for China.
China should not underestimate this issue like Japan south Korea

在未来10年,年轻人口增长将是中国的主要问题。
中国不应像日本和韩国那样低估这个问题。

@felicious4385
The black swan for this fixed gold market is....China (Brics), if you want to sell you gold cheap...ok, we'll buy it all because playing with USD and treasuries have become too dangerous (witness Russia's stolen reserves).

这个黄金市场的黑天鹅是……中国(金砖国家),如果你想便宜地出售你的黄金……好吧,我们会全部买下,因为玩美元和美国国债已经变得太危险了(详见俄罗斯被偷的储备)。

@ramasking31
Al though gold is leased at a few pew percent a year, silver is costing 10% per month! The suppression of silver is to ensure industrial use of silver is kept really depressed. However, the purchase of silver has been less than has been produced for 6 years

虽然黄金每年的租赁费用只有几个百分点,但白银每月的成本是10%!对白银的压制是为了确保工业用银保持在非常低的水平。然而,白银的购买量已经连续6年低于生产量。

@markbulmer5227
Remember that gold is a precious metal, critical in electronics (future tech etc), there's a limited supply until they mine and asteroid.

记住,黄金是一种贵金属,在电子(未来科技等)中至关重要,在他们开采小行星之前供应有限。

@seanwalsh999
I understand leasing a car, I get to use it, why would I want to lease gold? No wonder we have financial disasters every now and again, with hair brained schemes like Teaser rate mortgages like the 2000,s that led to 2008 and now central banks leasing gold that may or not exist, more fun and excitement to come? I am starting to understand that old Chinees curse, " may you live in interesting times "

我理解租赁汽车,我可以使用它,为什么我要租赁黄金?难怪我们时不时会有金融灾难,像2000年代的诱饵利率抵押贷款这样的愚蠢计划导致了2008年的危机,现在中央银行租赁可能或不存在的黄金,更多的乐趣和刺激即将到来?我开始理解那句古老的中国诅咒,“愿你生活在有趣的时代”。

@RobertHouse101
Age can bring amazing benefits to the world. Unfortunately, prejudices, like ageism, have made them OK because of political catastrophes. Sadly, our youth has not escaped this. Boomers have become a pejorative, used freely. God forgive them, for they do not know what they do.

年龄可以给世界带来惊人的好处。不幸的是由于政治灾难,像年龄歧视这样的偏见已经使它们变得可以接受。可悲的是我们的年轻人并没有逃脱这一点。婴儿潮一代已经成为一个贬义词被随意使用。愿上帝原谅他们,因为他们不知道自己在做什么。

@b-man8498
Canada has no gold reserves. How does this fact relate to the push to become the 51st state, and the threat of tariffs?
Our economies are completely integrated, but our weak currency makes everything so much more expensive.

加拿大没有黄金储备,这一事实与成为推动成为美国第51个州和关税威胁有什么关系?
我们的经济完全一体化,但我们疲软的货币使一切都变得更加昂贵。

@GingerPeacenik
And what about the price of silver, which has so many applications in renewable energy technologies? For every one ounce of gold mined, 16 ounces of silver are mined. Yet the gold to silver ratio in price is 90.55 ounces of silver to one ounce of gold. This is because silver is the only asset whose value is tied to it's derivative price (controlled by JP Morgan) , which makes no sense at all.

那么白银的价格呢,它在可再生能源技术中有如此多的应用?每开采一盎司黄金,就会开采16盎司白银。然而,黄金与白银的价格比是90.55盎司白银对一盎司黄金。这是因为白银是唯一一种价值与其衍生品价格(由摩根大通控制)挂钩的资产,这完全没有意义。

@MilionerstwobyJanFijor
We should not print money at all! I do not care who makes me poor: wasteful government or greedy banks. Money supply is not a condition for a growth. Free market is!

我们根本不应该印钞!我不在乎是谁让我贫穷:浪费的政府还是贪婪的银行。货币供应不是增长的条件,自由市场才是!

@edwardhunt2348
The surplus reduced debts might even be meaningless if the dollar loses value to gold and other currency. Isn't this just to increase bargaining power and US authority. Gold has gone not just as an inflation hedge but a defence against recession and quantitative easing.

如果美元相对于黄金和其他货币贬值,盈余减少的债务甚至可能毫无意义。这难道不是为了增加议价能力和美国的权威吗?黄金不仅作为通胀对冲工具,还作为对抗衰退和量化宽松的防御手段。

@hackedoff736
I’m confused… who actually holds gold? If you invest in it then it’s debt backed in a sense. Obligation backed would be a better term, you’re buying a promise from someone to deliver the gold on demand (or subject to whatever t&cs wrap the investment).

我很困惑……到底是谁持有黄金?如果你投资黄金,那么在某种意义上它是债务支持的。义务支持可能是一个更好的术语,你是在购买某人承诺按需交付黄金(或受投资条款和条件的约束)。

@gerhard7323
I had $600m worth of gold but in a fit of pique my ex chucked it in the bin and now it's buried somewhere deep in a Welsh landfill site.
The local council for some reason won't dig it all up for me despite taking them to court.....

我曾有价值6亿美元的黄金,但在一时气愤中,我的前妻把它扔进了垃圾桶,现在它被埋在威尔士某个垃圾填埋场的深处。
当地议会不知为何不愿为我挖出它,尽管我已经把他们告上了法庭……

@omegaman4153
How would the average worker / consumer know that his gold is actually gold? And how would any such person easily convert his gold into some form of currency that could be used in any retail transaction? Please explain the details since many gold advocates always try to peddle gold to the average guy.

普通工人/消费者如何知道他的黄金是真的黄金?这样的人如何轻松地将黄金转换成可用于任何零售交易的货币形式?请解释细节,因为许多黄金倡导者总是试图向普通人推销黄金。

@christopher33445
Market manipulation through institutions short selling?? Colour me suprised!!! JK thank you guys so much, didn't know the gold market was like this and am seeing so many adds for it, thankfully never been lured in

通过机构做空进行市场操纵??让我大吃一惊!!!开玩笑的,非常感谢你们,我不知道黄金市场是这样的,而且看到了很多广告,幸好从未被诱惑进去。

@DANVIIL
Hudson said gold holders would lose but he just made the exact case as to why they will win because gold is even more scarce than previously thought and with growing demand and declining supply, gold is going to the moon priced in fiat.

Hudson说黄金持有者会输,但他刚刚提出了为什么他们会赢的明确理由,因为黄金比之前想象的更加稀缺,随着需求增长和供应下降,黄金将以法定货币计价飞涨。

@ramasking31
Al though gold is leased at a few pew percent a year, silver is costing 10% per month! The suppression of silver is to ensure industrial use of silver is kept really depressed. However, the purchase of silver has been less than has been produced for 6 years

虽然黄金的年租赁率只有几个百分点,但白银的成本是每月10%!压制白银是为了确保工业用银保持在非常低的水平。然而,白银的购买量已经连续6年低于产量。

@puggleski6097
Thoae who get out of gold during this all time high and use the liquidity to pursue people centric policies, plans, works will escape the midas touch. Which is a curse, in the sense that you cant do anything with gold except hoard it.
There are other precious, or rare, or strategic metals apart from gold. That's an efficient multipolar way to end dollar dominance. But hoarding gold alone is not an efficient strategy and will backfire sooner rather than later.

那些在这次历史高点时退出黄金并用流动性追求以人为本的政策、计划和行动的人将逃脱迈达斯之触。这是一种诅咒,因为你除了囤积黄金外什么也做不了。
除了黄金,还有其他珍贵、稀有或战略性的金属。这是结束美元主导地位的有效多极化方式。但仅仅囤积黄金并不是一个有效的策略,迟早会适得其反。

@ramasking31
Gold supplies outstrip demand, true. The price of gold supplies go up around 1% per year. However, population increase is much higher than 1%. Gold at present is increasing higher than inflation because central banks, especially the Bricks central banks.
As the price of gold has been suppressed for so many years and BRICKS nations and now western banks are decreasing their dollars and increasing their gold reserves. Additionally, the billionaire class, corporations and western banks are reducing their dollars and increasing their gold reserves. Gold is becoming a competitor of the dollar.

黄金供应超过需求,这是事实。黄金供应价格每年上涨约1%。然而,人口增长远高于1%。目前黄金的增长速度高于通货膨胀,因为中央银行,尤其是金砖国家的中央银行。
由于黄金价格被压制了这么多年,金砖国家以及现在西方银行正在减少美元储备并增加黄金储备。此外,亿万富翁阶层、公司和西方银行也在减少美元储备并增加黄金储备。黄金正在成为美元的竞争对手。

@jgalt308
So we repeat the one thing Marx was right about: Money is a commodity. Correction: money was decoupled in 1971, not rued, that took place in 1974 when the "official price"
( a.k.a. "lawful money" ) was raised from
35/ozTroy(1934)to42.22, and minted coins now bore the "legal tender" designation. 1971 marks the end of the Bretton Woods "good as gold"
scam...and the massive fraudulent deception of the Federal Judiciary, which began in 1939, was now complete.
Once again, we avoid the effects of the "F" word as the ultimate cause of the present, the destruction of "industrial capitalism", the slow but inexorable rise of the F.I.RE sector, in
collusion with "government", the expansion of the Federal Government, which began in 1913 and accelerated after 1929, and the introduction of "socialism" with programs to attempt
social engineering, which the Federal Government has no legitimate authority to initiate and still doesn't.
One must also note the change of meaning involved with the words employed...such as imperialism, which is the acquisition of territory by force and colonization to that of
"economic dominance," ...which is interesting in Hudson's case, where he makes the distinction between "industrial capitalism" and the "rentier" economy that preceded it...
yet has no problem with ignoring the distinction for imperialism and expanding it to "super imperialism," even though "conquest" has essentially been eliminated.

所以我们重复马克思正确的一点:货币是商品。修正:货币在1971年脱钩,而不是重新估值,那是在1974年发生的,当时“官方价格”(即“法定货币”)从每盎司35美元(1934年)提高到42.22美元,铸造的硬币现在带有“法定货币”的标识。1971年标志着布雷顿森林“黄金如金”骗局的结束……以及始于1939年的联邦司法系统的大规模欺诈性欺骗的完成。
我们再次避免“F”字作为当前的根本原因,“工业资本主义”的破坏,F.I.RE部门的缓慢但不可阻挡的崛起,与“政府”勾结,联邦政府的扩张,始于1913年并在1929年后加速,以及通过计划尝试社会工程的“社会主义”的引入,联邦政府没有合法权力启动,现在仍然没有。
还必须注意所用词语的含义变化……例如帝国主义,从通过武力和殖民获取领土到“经济主导”,……这在Hudson的案例中很有趣,他区分了“工业资本主义”和之前的“食利者”经济……
却毫不费力地忽略了帝国主义的区别并将其扩展到“超级帝国主义”,尽管“征服”基本上已经被消除。

@mikem4432
The dollar is to the world economy what alchohol is to an alchoholic. It will take awhile but it is actually comming faster than most people thought.. Gold will reach unbelievable heights that I thought not long ago as impossible, I am talking 10,000$ an ounce or more.

美元对世界经济来说就像酒精对酗酒者一样。虽然这需要一段时间,但实际上它来得比大多数人想象的要快……黄金将达到我前不久还认为不可能的难以置信的高度,我说的是每盎司10,000美元或更多。

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