文丨喜盼晴 编辑丨一池秋水 **前言** 几十年来，世界各国几乎都把黄金存放在美国，认为那里是最安全的地方，就像一个无懈可 击的保险柜。然而，现在这一局面已经发生了根本性变化。美国面临的债务危机、信用危机和地缘政治 冲突，使得这个保险柜如今变成了一个深不见底的黑洞。 最近有消息称，柬埔寨决定将其黄金储备转 移到中国深圳的金库中，而越来越多的国家也开始评估是否应该采取类似行动。与此同时，许多国家悄 悄地将原本存放在美国的黄金运回自己的国家。这不再只是一次简单的金条搬家，而是全球信任体系崩 塌的一个信号。黄金正在离开美国，全球财富的分布也在悄然发生变化。更重要的是，中国正在成为新 的黄金安全港，这让特朗普忧心忡忡，因为这不仅仅是一个经济问题，而是美国霸权地位开始动摇的预 兆。 **黄金回流潮：各国开始不信任美国** 曾几何时，几乎所有国家都认为将黄金存放在美国是最安全的 选择。美国的金库安全性高，技术先进，而且美元是全球主要的结算货币，看起来一切都非常完美。然 而，这一信任体系如今已经出现了致命的裂痕。 最早产生疑虑的是德国。2012年，德国央行突然宣 布，要分批把存放在美国和法国的黄金运回本国。当时，外界普遍认 ...

Group 1 - Moody's downgraded the U.S. sovereign credit rating from Aaa to Aa1, changing the outlook from "negative" to "stable" [1] - The U.S. federal government debt has exceeded $36 trillion, with $6.5 trillion in bonds maturing in June alone [1] - The fiscal deficit for the first half of FY2025 has surpassed $1.3 trillion, marking the second-highest half-year deficit in history [1] Group 2 - The downgrade has led to a spike in bond yields, with 30-year Treasury yields exceeding 5% and 10-year yields rising above 4.5% [1] - The increase in U.S. borrowing costs is expected to raise global lending rates and exacerbate debt risks in emerging markets [2] - The downgrade reflects long-standing imbalances in U.S. economic governance, with political parties engaging in short-term fiscal policies [3] Group 3 - The U.S. government's reliance on tax cuts and increased spending has led to a projected $4 trillion increase in federal deficits over the next decade if the 2017 Tax Cuts and Jobs Act is extended [3] - The U.S. GDP contracted by 0.3% on a year-over-year basis in Q1, marking the worst quarterly performance since 2022 [3] - The downgrade serves as a reflection of the urgent need for reform in the global governance system, emphasizing the necessity for a multi-polar currency coordination mechanism [4]