美元霸权的最后堡垒被攻破，中国对日本动手，美联储敲响最后警钟

Group 1: Japanese Yen Crisis - The Japanese yen is rapidly approaching 160 against the dollar, causing significant concern within Japan as the currency depreciates sharply [2][4] - The Japanese government is considering market intervention to stabilize the yen, but there are doubts about the sustainability of its foreign exchange reserves [4][7] - The decline in the yen has led to a massive sell-off of Japanese government bonds, which were previously considered safe assets, resulting in falling bond prices and rising yields [7][9] Group 2: Impact on Global Financial System - The Federal Reserve is alarmed by the yen's weakness, as Japan is a key ally and a cornerstone of dollar dominance in Asia, prompting discussions about reconsidering interest rate policies [7][9] - A strong dollar could lead to economic turmoil in emerging markets, and the Fed may need to lower rates to prevent further destabilization [9][19] - China's actions, including reducing reliance on yen and dollar assets while increasing gold and other currencies, are impacting Japan's economic stability [11][15] Group 3: Nvidia's Financial Issues - Nvidia, a leading AI chip manufacturer, is facing financial troubles with $33.4 billion in uncollectible receivables and excess inventory, raising concerns among investors [13][15] - The revelation of financial discrepancies at Nvidia reflects broader issues within the U.S. financial system, potentially undermining confidence in American technology stocks [15][19] - The situation at Nvidia may contribute to a shift in global investment strategies, as investors seek alternatives to U.S. tech stocks amid concerns over dollar strength [15][19] Group 4: Shift in Global Economic Dynamics - The ongoing financial turmoil is prompting countries to reconsider their dependence on the dollar, with many exploring alternative currencies for international trade [15][19] - Japan's economic vulnerability is exacerbated by its reliance on exports and the globalized nature of its manufacturing sector, making it susceptible to currency fluctuations [17][19] - The current financial landscape suggests a potential decline in dollar hegemony, with emerging markets and alternative currencies gaining traction [19]