昨晚，最值得关注的是一封信，由美国历任美联储主席，财政部长，白宫首席经济顾问及顶级宏观经济学者联合发布的声明

Core Viewpoint - A recent statement from former U.S. Federal Reserve chairs, Treasury Secretaries, and top economists emphasizes the importance of the Federal Reserve's independence, especially in light of reports suggesting a criminal investigation into current Fed Chair Jerome Powell [3][5]. Group 1: Federal Reserve Independence - The statement highlights that attempts to undermine the Fed's independence are reminiscent of practices in emerging markets where monetary policy is manipulated under political or judicial pressure, leading to high inflation and economic disorder [3]. - The independence of the Federal Reserve is crucial for maintaining the credibility of the U.S. dollar as a global reserve currency, which is not a free service but comes with significant responsibilities [5][6]. Group 2: Economic Implications - The potential undermining of the Fed's independence could lead to a fragmented global monetary system, as no other currency currently has the capability to replace the dollar [7]. - The recent rise in gold prices is attributed to its reclassification as a primary asset under Basel III, making it a preferred collateral in uncertain times, as trust in fiat currencies diminishes [7]. Group 3: Investment Strategy - In the current environment of uncertainty, it is advised to focus on tangible assets such as gold, silver, and strategic materials, as well as stable cash flow assets like high-quality government bonds and stocks [8]. - Emphasis is placed on structural strategies over directional bets in trading, as predicting market movements has become increasingly difficult [8]. Group 4: Risk Management - The importance of survival over profit is stressed, with recommendations to lower leverage and expectations in a highly uncertain environment [11]. - A disciplined approach to risk management is essential, as the market is undergoing a fundamental rule change, making it crucial to recognize the potential costs of seemingly attractive opportunities [11].