Petrodollars, Pax Americana, Offshore Dollars, Dollar Recycling, and the Yen Carry as One Integrated System
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The Dollar Empire Trilogy · Part I : The Dollar Is Not a Currency. It Is a Machine.
This is how dollar empire is being build and designed.

Topics
- Dollar
Further reading
- MACRO RESEARCH美元帝国三部曲 02: 结构性失衡:美元体系的应力来源、传导路径与再定价前兆AM本文不讨论美元是否“衰落”,也不讨论是否存在“替代货币”。 本文只做一件事: 在既定美元体系不变的前提下,识别其内部已发生且不可逆的结构性失衡。 一、研究前提与方法论声明(很重要) 在进入正文之前,必须先明确本文的研究边界,否则任何讨论都会滑向意识形态。
- MACRO RESEARCH美元帝国三部曲 · 第三篇: 再定价,而非终结——美元体系失衡释放下的资产顺序、时间结构与风险映射 一、再定价不是观点,是被迫发生的过程 市场上关于“美元终结”的叙事几乎全部是错位的。 原因很简单: 货币体系极少“被替代”,但资产价格必然“被重新排序”。
- MACRO RESEARCHDeath of Dollars and Gold Price Surging“Is the Dollar Dead, and Gold Ascendant?” Understanding the Recent U.S. Dollar Decline and Gold’s Explosive Rally I.
- FED RESEARCHThe Carry Trade That Could Break the Treasury Market: Inside Japan's Yen Defense and the 2026 Unwind RiskIntervention bought Tokyo three weeks. The carry trade that funds half the world's risk appetite is already back near record size — and this time the exit runs straight through the
- VOL RESEARCHFOREX PRIMER 01 | WHAT ACTUALLY MOVES A CURRENCY PAIRTwo prices, a spread, and a bet on which central bank blinks first — most retail accounts are down money before that bet even starts.
- QUANT RESEARCH美元已死?黄金当立?——解析近期与黄金暴涨的逻辑、风险与策略一、背景与现象:美元下跌与黄金暴涨 1.1 近期市场现象概览 在 2025 年后半段,全球市场出现两个明显趋势:美元持续承压走弱与黄金价格破纪录飙升。 黄金突破 4,000 美元/盎司,年内涨幅超过 50% 以上。 美元指数(DXY)在多个交易日表现疲软,对一篮子主要货币显著贬值。