“木头姐”警告：真正的泡沫不是AI是黄金，美元上涨将戳破泡沫

Group 1 - The founder of Ark Investment Management, Cathie Wood, warns about the bubble risk in gold, stating that the likelihood of a decline in gold prices is high [1][4] - The market capitalization of gold as a percentage of the U.S. money supply (M2) has reached a historical high, surpassing the peak in 1980, and is at its highest level since the Great Depression in 1934 [1][4] - In 1934, the U.S. dollar depreciated by nearly 70% against gold, and the government prohibited private ownership of gold while M2 significantly shrank [1][4] Group 2 - The current U.S. economy is markedly different from the high inflation period of the 1970s or the deflationary depression of the 1930s, with foreign central banks reducing their reliance on the dollar [3][5] - The yield on the 10-year U.S. Treasury bond peaked at 5% at the end of 2023 but has since decreased to 4.2% [3][5] - Wood believes that the current bubble is not in artificial intelligence but in gold, suggesting that a rise in the dollar could burst this bubble, similar to the period from 1980 to 2000 when gold prices fell over 60% [4][5]