- 7 hours ago
八点最热报 | 美伊战争什么时候结束没有人知道，而黄金价格从高峰一直震荡回跌，然而全球央行已经用真金白银，投出了它们的判断，开始累积买进黄金。最新数据显示，马来西亚在2026年增持约4.98吨黄金，跃升今年到目前为止的全球第四大黄金买家......（主播：萧慧敏）
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00:00Seize the opportunity
00:01Unify Business (Enterprise and Internet)
00:03Helping enterprises take off in all aspects
00:05When does each war end?
00:07Nobody knows
00:07Gold prices have been fluctuating and declining from their peak.
00:11However, global central banks have already used
00:13Their judgment was based on real money.
00:16Start accumulating gold purchases
00:18Latest data
00:20Malaysia will increase its gold holdings by approximately 4.98 tons in 2026.
00:25Leap forward so far this year
00:26The world's fourth largest gold buyer
00:29Becoming the only Asian country on the list
00:32The value of gold reserves has reached $6.4 billion.
00:36Malaysia is not an exception
00:37Poland, Kazakhstan, Czech Republic: From Europe to Central Asia
00:41Central banks around the world are accelerating in tandem.
00:44The same action: buy gold and reduce US dollars.
00:47The latest figures released by the IMF earlier also show...
00:50Global central bank gold reserve value
00:54For the first time, it outperformed adjusted dollar assets
00:58This is the first time the IMF has released such data since the late 1990s.
01:03A historic reversal that has never happened before
01:06The world is preparing for the dollar to become unsafe.
01:09Lin Fuyan, a professor in the Department of Economics at Northern University, pointed out in an interview
01:13If the United States loses this war
01:16What is lost is probably not just the victory or defeat on the battlefield.
01:19Rather, it is the key fulcrum that supports the dollar's dominance throughout the century.
01:24petrodollar
01:26Did each war fire the final shot for the petrodollar?
01:30Lin Fuyan pointed out
01:31When security commitments begin to falter
01:33Cracks appear in energy settlement
01:35The system upon which the US dollar depends for its survival
01:37This will accelerate the dismantling process.
01:40The Bretton Woods system collapsed in 1971.
01:43The decoupling of the US dollar from gold
01:45The United States then played one of the smartest cards in history.
01:51The US dollar is pegged to oil.
01:52In 1974, the United States and Saudi Arabia reached an agreement.
01:56The United States provides military protection and political support.
01:58Saudi Arabia guaranteed
02:00All oil exports are priced and settled in US dollars.
02:04Oil became the new anchor of the US dollar.
02:07Oil is the lifeblood of the economies of all nations.
02:10You need to buy oil
02:11You need to use US dollars now.
02:13The US dollar has thus become a currency that all of humanity cannot avoid.
02:16This is what many people commonly refer to as the petrodollar.
02:20This machine has been operating precisely for half a century.
02:24This also allowed the United States to reap the benefits of the world economy through the dollar for half a century.
02:28But the core logic of this machine is an implicit contract.
02:33That's America protecting you.
02:35You use my currency
02:36But once the protector's credibility collapses...
02:39The whole machine will start to shake.
02:41Therefore, the prerequisite for this card is that the protective umbrella must be able to hold up.
02:46So if the US appears unable to protect Hormuz in the Iran conflict...
02:51Unable to control Iran
02:52Unable to protect bases in the Middle East
02:54They couldn't even bring themselves to speak to their regional allies.
02:56The real wounds weren't from a battle.
02:59Instead, it's an implicit contract that follows the US and receives a security dividend.
03:05Zhang Guolin, founder of New Capital Investment, pointed out
03:07The wave of de-dollarization didn't just start now.
03:11Russia invaded Ukraine in 2022.
03:13The United States and its allies have frozen approximately $300 billion of Russia's foreign exchange reserves.
03:18Preparation
03:19This is a historic moment.
03:21Not because it sanctioned Russia
03:23Rather, it's because it tells every country in the world...
03:26The money you put in the dollar system
03:28It's not your money.
03:30It's money that the US is temporarily holding for you.
03:32By using US dollars, you are handing your throat over to Washington.
03:37If the Russia-Ukraine war destroyed the credibility of the US dollar...
03:41So this time, the Iraq War
03:43What is being shaken is the deeper, more fundamental nature of the dollar.
03:49According to the latest data from the International Monetary Fund
03:51After a valuation adjustment
03:53Global central bank gold reserve value
03:55It has surpassed the dollar reserves for the first time.
03:58This is the first time the IMF has done so since the late 1990s.
04:00Since the release of relevant data began
04:02An unprecedented historic reversal
04:05Zhang Guolin, founder of New Capital Investment, pointed out
04:07Gold has been a major component of global central bank reserves over the past 20 years.
04:11Always a supporting role
04:12It accounts for just over 10%.
04:14But starting in 2022
04:16This number is rising rapidly.
04:18From 200 to 2020
04:22Gold as a global central bank reserve
04:26If each country needs reserves
04:27The percentage is approximately 9% to 13%.
04:31However, starting from 2022 to 2023
04:35It then began to increase significantly.
04:39My last figure was for 2025.
04:42It accounts for 32.3% of the central bank's reserves.
04:48That means it was less than 13% before.
04:51It has risen to 32.3% in the past two or three years.
04:56From less than 15%
04:58It jumped to 32.3%.
05:00Zhang Guolin pointed out
05:01This is not a slow-motion transformation
05:03This is an escape at accelerated speed.
05:05What I said before
05:06On average, they buy about 400 to 500 tons of gold each year.
05:10Every year
05:11Starting from 2022
05:13He doubled his purchases, buying over 1000 tons each year.
05:17So he and he continued to buy
05:18So he changed the entire situation.
05:21Zhang Guolin and Lin Fuyan, professor of economics at Northern University, both pointed out
05:24The wave of de-dollarization
05:26The real starting point was Russia's invasion of Ukraine in 2022.
05:30The United States and its allies have frozen Russia's [resources/funds].
05:33Approximately US$300 billion in foreign exchange reserves
05:35This blow didn't just kill Russia.
05:37Rather, every country in the world
05:40Including the nerve in the hearts of America's allies
05:42Deposit money into the dollar system
05:44It's like handing the key over to Washington.
05:47The United States slammed its fist on the table.
05:49Your reserves can become leverage at any time.
05:51The Russia-Ukraine war has changed countries' trust in the US dollar.
05:54However, Lin Fuyan pointed out
05:56The impact of each war on the status of the dollar
05:58Deeper and more fundamental than Russia and Ukraine
06:01Because this war is a battle for the lifeblood of the petrodollar.
06:04Trump probably never expected this.
06:07Every war has somehow become a battle to defend the dollar's hegemony.
06:11Because every war involves petrodollars.
06:15And the five instances involved confidence.
06:17Everyone suddenly felt
06:18Wow, so the US and its allies can do this.
06:21Then this is confidence.
06:23Therefore, confidence drops.
06:24This war of the United States
06:25If the US loses
06:27It lost more than just this war.
06:30Rather, it's its dollar oil.
06:32So this is even more terrifying.
06:33The United States abandoned the gold standard in 1971.
06:35Instead, it pegged the dollar to oil.
06:37Oil-producing countries settle oil transactions in US dollars.
06:40Global buyers must first purchase US dollars in order to buy energy.
06:43This mechanism allows the dollar to remain in gold-backed markets even when gold is decoupled.
06:46Still dominating the world for half a century
06:48But now the anchor chain is loosening.
06:52Therefore, many of those impulsive oil-producing countries
06:55They all felt
06:56Thanks to your protection
06:57It's alright, my oil is paid in US dollars.
06:59There was no problem with the settlement.
07:00Anyway, you're here to protect me.
07:02I'm very happy
07:03But if it is in this scramble
07:05It failed.
07:06People just think I still need your protection.
07:08It looks like you
07:10You're too busy taking care of yourself
07:11Your base can also be destroyed by others.
07:13And then you are unable to overcome this conflict.
07:17They can't win this conflict again.
07:18And then it caused a terrible situation for my country as well.
07:20Your base is in my country.
07:22Therefore, they might be inclined to let you hedge your risks.
07:26Hedging has become a very common term.
07:29Therefore it will seek hedging.
07:31Therefore, it will seek other currencies to borrow from.
07:34Lin Fuyan pointed out that the dollar system has never been supported by military power alone.
07:38It is a hidden contract
07:40Trade surplus countries earn US dollars
07:42Buy back US Treasury bonds
07:43Financing the US deficit
07:44The United States provides security guarantees.
07:46In return for global order
07:48This set of dollar revolving doors
07:50But now it can't turn anymore.
07:52It can be described as a loss of so-called confidence in the US dollar among countries around the world.
07:58It is an index
08:00It tends to be an index.
08:02So, even though you're earning me that interest...
08:05But I still feel like I can't earn this kind of interest.
08:07Just like a bank
08:09Some people go to the bank and the bank is afraid to lend them money.
08:12Because this interest is hard to earn.
08:13There might be some crisis of professional misconduct.
08:15Therefore, we can see from this that it is an index.
08:19This means that the credibility of the US dollar is declining.
08:22The lower the price, the more terrifying it becomes.
08:24MRR Consulting's managing partner, Huang Guohua, pointed out
08:27Although the trend of de-dollarization is becoming stronger
08:30But the dollar won't collapse tomorrow.
08:32No currency can be replaced overnight.
08:36But that logic that has allowed the dollar to stand firm for 50 years
08:39Gold anchor, oil anchor, security commitment, credit contract
08:43It is breaking down one link at a time.
08:45Accelerating de-dollarization
08:46Moreover, it reflects a lack of trust in the United States.
08:48No need to buy a lot of US Treasury bonds
08:49And it wasn't in US dollars.
08:51And I didn't buy any weapons from you.
08:52Therefore, I believe that many countries in the Middle East...
08:56Such a high daily PETRODOLLAR usage rate
08:59So if we gradually reduce our use of US dollars...
09:02It will not appear in a short period of time.
09:04But if it appears gradually
09:06This poses a significant challenge to the US dollar and US Treasury bonds.
09:09Moreover, the war with Iran may be a turning point.
09:16Now missiles are falling on Iran.
09:18But the wound is on the dollar.
09:21The battlefield is in the Middle East.
09:22Cracks have also appeared at the core of the global financial system.
09:26The past half century
09:28Humans have become accustomed to a logic
09:29That is, the US dollar has interest.
09:31In-depth
09:32Credit
09:32The safest choice
09:34But today
09:35An unusual scene is unfolding.
09:38Gold that does not generate interest
09:40Instead, it became a lifeline
09:42That's not market sentiment.
09:43This was a quiet rearrangement.
09:46When returns begin to give way to safety
09:49When liquidity no longer equals reliability
09:51A revolution is taking place in the history of human finance.
09:53An almost imperceptible reversal
09:56The dollar did not collapse.
09:57But it was the first time it was systematically questioned.
09:59Gold has not become stronger.
10:01But it was the first time that the collective had regained faith.
10:03Therefore, the war between the US and Iran
10:05It's not just about territory and regime.
10:07Instead, it's rewriting a deeper problem.
10:10Should the world continue to place trust in the world?
10:13Press on the same currency
10:15How long can the dollar's hegemony last?
10:24Please feel free to like, subscribe, share, and tip to support the Mingjing & DianDian column.
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