{"id":5211,"date":"2025-03-20T13:06:00","date_gmt":"2025-03-20T12:06:00","guid":{"rendered":"https:\/\/www.jindrichsmitka.cz\/?p=5211"},"modified":"2025-07-09T19:49:45","modified_gmt":"2025-07-09T17:49:45","slug":"i-pres-snizovani-uroku-fedem-vzrostly-urokove-sazby","status":"publish","type":"post","link":"https:\/\/www.jindrichsmitka.cz\/index.php\/2025\/03\/20\/i-pres-snizovani-uroku-fedem-vzrostly-urokove-sazby\/","title":{"rendered":"I p\u0159es sni\u017eov\u00e1n\u00ed \u00farok\u016f FEDem vzrostly \u00farokov\u00e9 sazby"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>\u00darokov\u00e9 sazby v USA vzrostly i p\u0159es sni\u017eov\u00e1n\u00ed \u00farok\u016f FEDem. Poskytovatel\u00e9 \u00fav\u011br\u016f se jist\u00ed p\u0159ed inflac\u00ed vy\u0161\u0161\u00edmi \u00farokov\u00fdmi mar\u017eemi. Spl\u00e1cen\u00ed dluh\u016f inflac\u00ed se ob\u010das zadrhne a \u00farokov\u00e9 sazby vzr\u016fst i p\u0159es dikt\u00e1t centr\u00e1ln\u00edch bank.<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"466\" src=\"http:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-1024x466.png\" alt=\"Hypot\u00e9ky, financov\u00e1n\u00ed, rizikov\u00e9 p\u0159ir\u00e1\u017eky, r\u016fst \u00farok\u016f\" class=\"wp-image-5221\" style=\"width:456px;height:auto\" srcset=\"https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-1024x466.png 1024w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-300x137.png 300w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-768x350.png 768w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-923x420.png 923w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-150x68.png 150w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-696x317.png 696w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka-1068x486.png 1068w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/30-leta-hypoteka.png 1193w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">30let\u00e1 hypot\u00e9ka v USA. Zdroj: Fred<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Poskytovatel\u00e9 \u00fav\u011br\u016f v\u011bd\u00ed, \u017ee \u010d\u00edm v\u00edc klesnou centr\u00e1ln\u011b pl\u00e1novan\u00e9 \u00farokov\u00e9 sazby, t\u00edm v\u011bt\u0161\u00ed bude inflace, kterou to vyvol\u00e1. Proto p\u0159edem zvy\u0161uj\u00ed \u00farokov\u00e9 sazby na poskytovan\u00fdch p\u016fj\u010dk\u00e1ch, aby nav\u00fd\u0161ili rizikov\u00e9 p\u0159ir\u00e1\u017eky a pokryli ztr\u00e1ty, kter\u00e9 jim inflace zp\u016fsob\u00ed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To je ve zkratce sou\u010dasn\u00e1 tr\u017en\u00ed realita. V podstat\u011b by se dalo \u0159\u00edct, \u017ee manipulace \u00farokov\u00fdch sazeb centr\u00e1ln\u00edmi bankami p\u0159i sou\u010dasn\u00e9m sni\u017eov\u00e1n\u00ed \u00farok\u016f nyn\u00ed zp\u016fsobuje p\u0159esn\u00fd opak toho, \u010deho se sv\u00fdmi \u00fakony sna\u017e\u00ed doc\u00edlit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Centr\u00e1ln\u00ed banky v d\u016fsledku sv\u00e9ho \u0161patn\u00e9ho rozhodov\u00e1n\u00ed, rezignovaly na boj s inflac\u00ed a rozpout\u00e1vaj\u00ed dal\u0161\u00ed infla\u010dn\u00ed peklo, aby vy\u0161ly vst\u0159\u00edc dlu\u017en\u00edk\u016fm a zadlu\u017een\u00fdm st\u00e1t\u016fm. Sna\u017e\u00ed se zal\u00edbit ve\u0159ejnosti t\u00edm, \u017ee jim \u201eumo\u017en\u00ed\u201c p\u0159\u00edstup k levn\u011bj\u0161\u00edm \u00fav\u011br\u016fm, aby se d\u0159\u00edve t\u011b\u017ece zadlu\u017een\u00fdm a zejm\u00e9na st\u00e1t\u016fm snadn\u011bji d\u00e1l zadlu\u017eovalo a utr\u00e1celo d\u00edky dal\u0161\u00ed inflaci.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Je to tedy takov\u00fd f\u00edgl, kdy zvy\u0161ov\u00e1n\u00edm cen v\u0161eho, jaksi opticky vypadaj\u00ed dluhy men\u0161\u00ed.<\/p>\n\n\n\n<script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><!-- Automatick\u00e1 velikost reklamy --><ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-9221645303649413\" data-ad-slot=\"8661693083\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>P\u0159\u00edklad infla\u010dn\u00edho spl\u00e1cen\u00ed p\u0159edchoz\u00edch dluh\u016f<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">P\u0159edstavte si to jako kdy\u017e m\u00e1te hypot\u00e9ku na d\u016fm, za kter\u00fd jste dali t\u0159eba 5 milion\u016f. Ale po p\u00e1r letech v sou\u010dasn\u00fdch infla\u010dn\u00edch cen\u00e1ch m\u00e1 hodnotu 10 milion\u016f. Hur\u00e1, jakoby z\u00e1zrakem je polovina va\u0161eho dluhu odmazan\u00e1. V\u00e1m mezi t\u00edm v pr\u00e1ci p\u0159idaj\u00ed, proto\u017ee p\u0159ece inflace, tak\u017ee naoko vyd\u011bl\u00e1v\u00e1te v\u00edc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A vy si nyn\u00ed nav\u00edc m\u016f\u017eete v\u00edc p\u016fj\u010dit a koupit si t\u0159eba dal\u0161\u00ed auto nebo luxusn\u00ed dovolenou. Proto\u017ee si to p\u0159ece m\u016f\u017eete dovolit, v\u017edy\u0165 inflace sma\u017ee dluhy za v\u00e1s.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A st\u00e1ty to d\u011blaj\u00ed \u00fapln\u011b stejn\u011b. A m\u00edsto aby spl\u00e1cely, vesele se zadlu\u017euj\u00ed d\u00e1l a spol\u00e9haj\u00ed na centr\u00e1ln\u00ed banky, \u017ee budou d\u00e1l vesele vytv\u00e1\u0159et inflaci.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ale co kdy\u017e tento princip perpetuum mobile p\u0159estane fungovat&#8230;?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trh rozhodl jinak \u2013 \u00farokov\u00e9 sazby mohou vzr\u016fst \u2013 navzdory dikt\u00e1tu centr\u00e1ln\u00edch bank<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Navzdory z\u00e1m\u011br\u016fm centr\u00e1ln\u00edch bank v\u0161ak nyn\u00ed trh zafungoval p\u0159esn\u011b opa\u010dn\u011b.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Proto\u017ee poskytovatel\u00e9 \u00fav\u011br\u016f vid\u00ed, \u017ee n\u00edzk\u00e9 \u00farokov\u00e9 sazby rovn\u00e1 se vysok\u00e1 inflace. A pokud n\u011bkomu p\u016fj\u010d\u00edte za fixn\u00ed \u00farokovou sazbu a mezit\u00edm v\u00e1m vzroste inflace, tak najednou m\u00e1te ztr\u00e1tu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A p\u0159ed ztr\u00e1tami, kter\u00e9 \u00fav\u011brov\u00fdm instituc\u00edm inflace zp\u016fsobuje, se nyn\u00ed horliv\u011b chr\u00e1n\u00ed. Jak? Prost\u011b dop\u0159edu zv\u00fd\u0161\u00ed \u00farokov\u00e9 sazby, za kter\u00e9 jsou ochotn\u00ed p\u016fj\u010dovat, proto\u017ee po\u010d\u00edtaj\u00ed s t\u00edm, \u017ee v \u010dase bude vy\u0161\u0161\u00ed inflace.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To ve sv\u00e9m d\u016fsledku vede k \u00fatlumu \u00fav\u011brov\u00e9 aktivity, proto\u017ee dlu\u017en\u00edci si zase necht\u011bj\u00ed p\u016fj\u010dovat za vysok\u00e9 \u00faroky.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To vede k p\u0159irozen\u00e9mu p\u0159i\u0161krcen\u00ed \u00fav\u011brov\u00e9 aktivity. Tak\u017ee co nedok\u00e1zala pro svou neschopnost centr\u00e1ln\u00ed banka. To vy\u0159e\u0161il trh, jakmile p\u0159estal v\u011b\u0159it manipulac\u00edm v centr\u00e1ln\u00ed bance.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"474\" src=\"http:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--1024x474.png\" alt=\"USA, dluhopisy, v\u00fdnosy, \u00faroky\" class=\"wp-image-5220\" srcset=\"https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--1024x474.png 1024w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--300x139.png 300w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--768x355.png 768w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--908x420.png 908w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--150x69.png 150w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--696x322.png 696w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes--1068x494.png 1068w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2025\/07\/10-years-yeald-treasury-notes-.png 1210w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">V\u00fdnos 10let\u00e9ho dluhopisu USA.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Zpomalen\u00ed \u00fav\u011brov\u00e9 aktivity a dra\u017e\u0161\u00ed refinancov\u00e1n\u00ed v p\u0159edlu\u017een\u00e9 ekonomice rovn\u00e1 se probl\u00e9m<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tento princip maz\u00e1n\u00ed dluh\u016f inflac\u00ed, u\u017e ale funguje velmi dlouho. Je p\u0159\u00edli\u0161 mnoho t\u011bch, kte\u0159\u00ed si na n\u011bj zvykli. A proto\u017ee to dlouho dob\u0159e fungovalo, tak u\u017e stihli po\u0159\u00e1dn\u011b zadlu\u017eit. A na sv\u00e9m zadlu\u017een\u00ed vybudovat po\u0159\u00e1dnou hromadu nejr\u016fzn\u011bj\u0161\u00edch deriv\u00e1t\u016f.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sou\u010dasn\u00fd r\u016fst \u00farokov\u00fdch sazeb, tak povede k mnoha nep\u0159\u00edjemnostem zejm\u00e9na velk\u00fdch notorick\u00fdch dlu\u017en\u00edk\u016f, jako je nap\u0159\u00edklad vl\u00e1da Spojen\u00fdch st\u00e1t\u016f Americk\u00fdch, ale v podstat\u011b jak\u00fdchkoli dlu\u017en\u00edk\u016f, kte\u0159\u00ed to s t\u00edmhle \u00fav\u011brov\u00fdm dopingem jaksi p\u0159ehnali.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A odhal\u00ed to mnoho dlouho zakr\u00fdvan\u00fdch probl\u00e9m\u016f. T\u0159eba to, \u017ee nen\u00ed mo\u017en\u00e9 se beztrestn\u011b zadlu\u017eovat do nekone\u010dna.<\/p>\n\n\n\n<script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><!-- Automatick\u00e1 velikost reklamy --><ins class=\"adsbygoogle\" style=\"display: block;\" data-ad-client=\"ca-pub-9221645303649413\" data-ad-slot=\"8661693083\" data-ad-format=\"auto\" data-full-width-responsive=\"true\"><\/ins><script>\n(adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><br>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Enormn\u00ed neza\u00fa\u010dtovan\u00e9 ztr\u00e1ty americk\u00fdch bank ze \u0161patn\u00fdch rozhodnut\u00ed<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">U\u017e n\u011bjakou dobu se prosl\u00fdch\u00e1, \u017ee si americk\u00e9 banky z posledn\u00edch let nesou citeln\u00e9 neza\u00fa\u010dtovan\u00e9 ztr\u00e1ty v \u0159\u00e1dech stovek miliard dolar\u016f. Podle ofici\u00e1ln\u00edch v\u00fdsledk\u016f jde o n\u011bjak\u00fdch <a href=\"https:\/\/finance.yahoo.com\/news\/banks-sitting-500-billion-unrealized-170516440.html?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAJst41pXJk2d0j-qequLAFmAnu6Y9a0Aljt4jGd0DB1lUscnK32lc-xr9tjHd4ywEjFRLIrUEu0ms4LNnoZdrAumYsoXS2f9cTvVRwHhds_o99a_pN67jdow5r2HKj1UwbQXmFi9MqZt_KpwaRanKGVQShpzwSfBhprE8CP1bcNz&amp;guccounter=2\" target=\"_blank\" rel=\"noopener\" title=\"\">520 miliard dolar\u016f<\/a>. To je v\u00edce ne\u017e 5x v\u00edc, ne\u017e americk\u00e9 banky m\u011bly v roce 2008.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ztr\u00e1ty ze v\u0161ech t\u011bch \u0161patn\u011b alokovan\u00fdch prost\u0159edk\u016f formou ESG politik jako greendeal\u016f, protla\u010dov\u00e1n\u00ed nekompetentn\u00edch LGBTQ+ individu\u00ed do firem, ale i z nulov\u00fdch \u00farokov\u00fdch sazeb.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nejv\u011bt\u0161\u00ed d\u00edl t\u011bchto ztr\u00e1t lze nejsp\u00ed\u0161 p\u0159i\u010d\u00edtat pr\u00e1v\u011b dlouh\u00e9mu obdob\u00ed nulov\u00fdm \u00farokov\u00fdm sazb\u00e1m nakupov\u00e1n\u00ed p\u0159edra\u017een\u00fdch vl\u00e1dn\u00edch dluhopis\u016f.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">P\u0159i n\u00edzk\u00fdch \u00faroc\u00edch tyto banky nakupovaly ohromn\u00e9 d\u00e1vky vl\u00e1dn\u00edch dluhopis\u016f, aby m\u011bly alespo\u0148 minim\u00e1ln\u00ed v\u00fdnos nebo ne tak velikou ztr\u00e1tu. Nav\u00edc \u010d\u00edm v\u00edc do z\u00e1poru \u0161ly \u00farokov\u00e9 sazby dluhopis\u016f, t\u00edm rostly ceny t\u011bchto dluhopis\u016f, tak\u017ee banky mohly st\u00e1le vyd\u011bl\u00e1vat na r\u016fstu ceny.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A kdy\u017e \u00farokov\u00e9 sazby dluhopis\u016f rostou a jejich ceny \u00fam\u011brn\u011b tomu klesaj\u00ed, banky a v\u0161ichni investo\u0159i do st\u00e1tn\u00edch dluhopis\u016f dr\u017e\u00ed velk\u00e9 ztr\u00e1ty, proto\u017ee ceny jejich majetku s rostouc\u00edmi \u00farokov\u00fdmi sazbami prudce klesaj\u00ed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Do toho ty ztr\u00e1ty z nemovitost\u00ed<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">K tomu v\u0161emu se nav\u00edc pomalu provaluj\u00ed i ty ztr\u00e1ty do n\u00e1stroj\u016f zaji\u0161t\u011bn\u00fdch p\u0159edra\u017een\u00fdmi nemovitostmi. Podle m\u011b dostupn\u00fdch informac\u00ed to vypad\u00e1, \u017ee se tyto dv\u011b polo\u017eky nep\u0159ekr\u00fdvaj\u00ed. Tak\u017ee bychom je m\u011bli sp\u00ed\u0161 se\u010d\u00edst. Doporu\u010duji to ale \u010dten\u00e1\u0159\u016fm je\u0161t\u011b hloub\u011bji prozkoumat.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"http:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-1024x768.jpg\" alt=\"dluh, Amerika, americk\u00fd sen, d\u016fm, auto, zadlu\u017een\u00ed, \u017eivot na dluh\" class=\"wp-image-4666\" style=\"width:260px;height:auto\" srcset=\"https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-1024x768.jpg 1024w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-300x225.jpg 300w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-768x576.jpg 768w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-1536x1152.jpg 1536w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-150x113.jpg 150w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-696x522.jpg 696w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash-1068x801.jpg 1068w, https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2023\/07\/Americky-sen-unsplash.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Americk\u00fd sen. D\u016fm na p\u0159edm\u011bst\u00ed a auto. V\u0161e na dluh. Zdroj: Unsplash<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Podle dostupn\u00fdch informac\u00ed tak dr\u017e\u00ed americk\u00e9 banky dal\u0161\u00edch <a href=\"https:\/\/economictimes.indiatimes.com\/news\/international\/us\/another-subprime-crisis-in-the-making-american-banks-sitting-on-750-billion-in-losses-on-realty-debt-related-securities-here-are-sectors-most-vulnerable\/articleshow\/114738339.cms?from=mdr\" target=\"_blank\" rel=\"noopener\" title=\"\">750 miliard <\/a>dolar\u016f v neza\u00fa\u010dtovan\u00fdch ztr\u00e1t\u00e1ch z \u00fav\u011br\u016f, investic a dal\u0161\u00edch n\u00e1stroj\u016f do nemovitost\u00ed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jen <a href=\"https:\/\/www.barrons.com\/articles\/bank-of-america-bond-losses-stock-67872f39\" target=\"_blank\" rel=\"noopener\" title=\"\">Bank of America<\/a>, dvojka na seznamu nejv\u011bt\u0161\u00edch americk\u00fdch bank, prova\u0159ila v posledn\u00ed dob\u011b zejm\u00e9na v dluz\u00edch zaji\u0161t\u011bn\u00fdch nemovitostmi 85,7 miliard dolar\u016f.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To je taky zhruba 7x v\u00edc, ne\u017e m\u011bly v roce 2008. Tak\u017ee nafouknut\u00e1 bublina se za posledn\u00edch 10 let nulov\u00fdch \u00farokov\u00fdch sazeb, je\u0161t\u011b v\u00fdznamn\u011b dofoukla a pomalu ale jist\u011b se prask\u00e1.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.jindrichsmitka.cz\/index.php\/2021\/11\/21\/celosvetove-rizeny-ekonomicky-kolaps-se-blizi\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Psal jsem v \u010dl\u00e1nku Celosv\u011btov\u011b \u0159\u00edzen\u00fd ekonomick\u00fd kolaps se bl\u00ed\u017e\u00ed (zde)<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Centr\u00e1ln\u00ed pl\u00e1nov\u00e1n\u00ed op\u011bt selh\u00e1v\u00e1, tentokr\u00e1t na z\u00e1pad\u011b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A co je dnes v Americe, to bude brzy i u n\u00e1s. P\u0159ece jen m\u00e1me hlavu str\u010denou a\u017e p\u0159\u00edli\u0161 hluboko v americk\u00e9m zadku a to jak p\u0159\u00edmo, tak prost\u0159ednictv\u00edm Evropsk\u00e9 unie.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sou\u010dasn\u00fd r\u016fst \u00farokov\u00fdch sazeb odhaluje tak\u00e9 fakt, \u017ee lid\u00e9, investo\u0159i i instituce, tedy takzvan\u00e9 \u201etrhy\u201c ji\u017e z vysoka ka\u0161lou na rozhodnut\u00ed centr\u00e1ln\u00edch bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">P\u0159ece podnikatel\u00e9 i investo\u0159i podnikaj\u00ed pro zisk a komunistick\u00e9 centr\u00e1ln\u00ed pl\u00e1nov\u00e1n\u00ed ekonomiky prost\u0159ednictv\u00edm centr\u00e1ln\u00edch bank a jiech manipulac\u00ed s \u00farokov\u00fdmi sazbami, je z\u0159ejm\u011b ji\u017e omrzelo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nejsp\u00ed\u0161 pochopily, \u017ee bez zisku nen\u00ed podnik\u00e1n\u00ed ani budoucnost. A p\u016fj\u010dovat za n\u00edzk\u00e9 \u00faroky, nech\u00e1vat si spl\u00e1cet infla\u010dn\u00edmi pen\u011bzi, kter\u00e9 rychle ztr\u00e1c\u00ed hodnotu jaksi neumo\u017e\u0148uje vytv\u00e1\u0159et zisk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Centr\u00e1ln\u00ed pl\u00e1nov\u00e1n\u00ed tak op\u011bt selh\u00e1v\u00e1. Tentokr\u00e1t na z\u00e1pad\u011b. A zdrav\u00fd rozum se pomalu vrac\u00ed.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">&#8212; konec \u010dl\u00e1nku &#8212;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>D\u00e1l se m\u016f\u017eete pod\u00edvat do e-shopu&nbsp;<a href=\"http:\/\/motivar.cz\/\" target=\"_blank\" rel=\"noreferrer noopener\">Motiv\u00e1\u0159.cz<\/a>&nbsp;a vybrat si z \u0159ady designov\u00fdch motiva\u010dn\u00edch obraz\u016f s cit\u00e1tem s podtitulem \u201edenn\u00ed d\u00e1vka motivace a dobr\u00e9 n\u00e1lady\u201c. P\u0159\u00edpadn\u011b se m\u016f\u017eete pod\u00edvat na Videobesedu o pouti do Santiaga de Compostela&nbsp;<a href=\"https:\/\/www.jindrichsmitka.cz\/produkt\/videobeseda-3-000-kilometru-pesky-do-santiaga-de-compostela\/\" target=\"_blank\" rel=\"noreferrer noopener\">(zde)<\/a>&nbsp;a t\u0159eba si p\u0159itom i trochu vy\u010distit hlavu.&nbsp;<\/em>A nebo si po\u0159\u00eddit hezkou voskovou sv\u00ed\u010dku z rodinn\u00e9 manufaktury&nbsp;<a href=\"https:\/\/www.sochorskymlyn.cz\/\" target=\"_blank\" rel=\"noreferrer noopener\">(zde)<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>I nad\u00e1le se v\u0161ak m\u016f\u017eete t\u011b\u0161it na dal\u0161\u00ed zaj\u00edmav\u00e1 t\u00e9mata. Rozhodn\u011b se proto&nbsp;<strong>zapi\u0161te k odb\u011bru novinek<\/strong>&nbsp;do formul\u00e1\u0159e n\u00ed\u017ee, aby V\u00e1m nic neuniklo nebo&nbsp;<strong>podpo\u0159te provoz<\/strong>&nbsp;tohoto blogu p\u0159\u00edsp\u011bvkem&nbsp;<a href=\"https:\/\/www.jindrichsmitka.cz\/2019\/04\/13\/podporte-dalsi-rozvoj-blogu\" target=\"_blank\" rel=\"noreferrer noopener\">(v\u00edce zde)<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>P\u0159ihl\u00e1sit k odb\u011bru novinek:<\/strong>&nbsp;[mc4wp_form id=\u201c175\u2033]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00darokov\u00e9 sazby v USA vzrostly i p\u0159es sni\u017eov\u00e1n\u00ed \u00farok\u016f FEDem. Poskytovatel\u00e9 \u00fav\u011br\u016f se jist\u00ed p\u0159ed inflac\u00ed vy\u0161\u0161\u00edmi \u00farokov\u00fdmi mar\u017eemi. Spl\u00e1cen\u00ed dluh\u016f inflac\u00ed se ob\u010das zadrhne a \u00farokov\u00e9 sazby vzr\u016fst i p\u0159es dikt\u00e1t centr\u00e1ln\u00edch bank. Poskytovatel\u00e9 \u00fav\u011br\u016f v\u011bd\u00ed, \u017ee \u010d\u00edm v\u00edc klesnou centr\u00e1ln\u011b pl\u00e1novan\u00e9 \u00farokov\u00e9 sazby, t\u00edm v\u011bt\u0161\u00ed bude inflace, kterou to vyvol\u00e1. Proto p\u0159edem zvy\u0161uj\u00ed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3703,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1354],"tags":[1309,1518,1494],"class_list":["post-5211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spolecnost","tag-inflace","tag-manipulace","tag-urokove-sazby"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.jindrichsmitka.cz\/wp-content\/uploads\/2021\/10\/neonbrand-Cmz06-0btw-unsplash.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/posts\/5211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/comments?post=5211"}],"version-history":[{"count":2,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/posts\/5211\/revisions"}],"predecessor-version":[{"id":5223,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/posts\/5211\/revisions\/5223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/media\/3703"}],"wp:attachment":[{"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/media?parent=5211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/categories?post=5211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jindrichsmitka.cz\/index.php\/wp-json\/wp\/v2\/tags?post=5211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}