#美国核心物价涨幅不及市场预估 $AXS $D $ETH

Weak US dollar, gold rebound—The financial logic behind it

Recent weeks have seen a tense market atmosphere. The US dollar index has been continuously weakening, while gold and silver keep breaking through high levels. Behind this seemingly simple inverse relationship lies a more complex economic reality.

The US debt issue is now front and center. The $38 trillion debt size is no secret, but the key point is that annual interest payments have already exceeded the defense budget. What does this mean? It means the Federal Reserve's policy space is being ruthlessly squeezed. Peter Schiff and other market observers have recently spoken out frequently, with straightforward logic: as government debt consumes more and more funds, the traditional financial system faces challenges.

What about the Fed's response? It has injected $5 trillion of liquidity into the banking system, with an additional $420 billion rescue plan waiting in the wings. On the surface, US stocks seem to still be rising, but a closer look at the cash reserves of major US banks reveals real issues. This is not baseless speculation but actual balance sheet data.

The most interesting part is the game between the US dollar and gold. The Fed once tried to suppress gold prices through short positions, but what happened? Global investors' demand for gold actually increased. Under expectations of rate cuts, the dollar would depreciate—this is basic economics 101. When dollar liquidity is released, funds spill out—US and European stocks are both under pressure, with Nasdaq futures once falling over 1%.

The cryptocurrency market was also not spared, with news of 260,000 traders forced to liquidate in a single day flooding the headlines. This reflects the fragility of leveraged trading amid market volatility; as volatility intensifies, risks are concentrated and released.

Returning to the bigger picture: if printing money continues to address debt issues, the dollar's purchasing power will further decline, making gold and other hard assets more attractive. But at the same time, the actual earnings of US big banks will be compressed, creating a vicious cycle. This is not alarmism but a logical chain of inevitable deductions.

An interesting question arises—will gold become the most stable asset in this cycle? Will the US dollar's status as the world's reserve currency be challenged? How should cryptocurrencies be positioned?

For investors active on exchanges like Gate, these macro trends are worth pondering. Every market fluctuation is driven by capital reallocation; the key is to understand the logic, not just follow the trend.