由于美元美元坠毁至三年低点，比特币高高

这一周开始了一个有趣的音符，美元跌至三年的低点，而华尔街的损失

The week has begun on an interesting note, with the U.S. dollar crashing to three-year lows alongside losses on Wall Street, yet bitcoin (BTC) stands tall despite usually following the sentiment on the stock markets.

这一周已经开始了一个有趣的音符，美元倒流到三年的低点，而在华尔街的损失以及比特币（BTC）的损失很高，尽管通常遵循股票市场上的情绪。

This could just be the beginning.

这可能只是开始。

The shift away from the USD and toward seizure and censorship-resistant assets like BTC and stablecoins could accelerate if President Donald Trump follows through with his reported plans to fire Federal Reserve Chairman Jerome Powell, which have pushed the DXY and U.S. stock markets lower today.

如果唐纳德·特朗普（Donald Trump）总统遵循报道的计划解雇联邦储备主席杰罗姆·鲍威尔（Jerome Powell），那将从美元和持续的资产转向扣押和抗审查资产，例如BTC和Stablecoins，这将使DXY和美国股市今天降低。

That's the lesson from Turkey, which has seen its currency, the lira (TRY), collapse over the years mainly due to President Recep Tayyip Erdogan's repeated interference in the central bank's operations. The sliding lira has triggered a capital flight into BTC and stablecoins since at least 2020-21.

这是土耳其的教训，该教训已经看到了其货币，里拉（Try）（Try）多年来倒塌，主要是由于总统雷切普·塔伊普·埃尔多安（Recep Tayyip Erdogan）反复干预中央银行的业务。滑动里拉至少从2020-21开始引发了向BTC和Stablecoins的资本飞行。

Trump's issues with the Fed

特朗普在美联储的问题

Trump has feuded publicly with the Federal Reserve and its chairman, Jerome Powell, for years, criticizing Powell for being too late on rate cuts even during his first term when interest rates were way lower than today.

多年来，特朗普已经与美联储及其主席杰罗姆·鲍威尔（Jerome Powell）公开争执，批评鲍威尔（Powell）即使在第一任期内的利率低于今天的第一任期，鲍威尔（Powell）的削减太晚也太晚了。

However, Trump's criticism has recently reached a fever pitch with reports suggesting he is looking for ways to get rid of Powell, who recently warned of stagflation even as the President reiterated calls for lower borrowing costs while suggesting there is no inflation.

但是，特朗普的批评最近发烧了，报道表明他正在寻找摆脱鲍威尔的方法，后者最近警告说，尽管总统重申了降低借贷费用的呼吁，同时暗示没有通货膨胀。

Powell's patient approach follows a trade war-led spike in survey-based measures of inflation expectations, which could always become self-fulfilling.

鲍威尔的患者方法遵循以贸易战为主导的高峰，这是基于调查的通货膨胀预期措施，这总是可以变得自我实现。

Still, on Monday, Trump went further, calling Powell a "major loser" and warning that the economy could slow down unless interest rates are immediately lowered.

尽管如此，在周一，特朗​​普进一步走了，称鲍威尔为“主要失败者”，并警告说，除非立即降低利率，否则经济可以放慢速度。

Lesson From Turkey

来自土耳其的教训

Erdogan began interfering in the central bank's operations in 2019, and since then, the lira has collapsed sevenfold from 5.3 per dollar to 38 per dollar.

埃尔多安（Erdogan）于2019年开始干预中央银行的业务，从那时起，里拉（Lira）从每美元5.3倍倒塌到每美元38倍。

It all started with Turkey's inflation rate reaching double digits in 2017. It remained elevated in the subsequent year, which prompted the country's central bank to increase the one-week repo rate from 17.5% to 24% in September 2018.

这一切始于土耳其的通货膨胀率在2017年达到两位数。随后的一年，它仍然升高，这促使该国的中央银行将一周的存储率从2018年9月提高到24％。

The move likely didn't go well with Erodgan, who issued the first decree dismissing Central Bank of Turkey (CBT) governor Murat Cetinkaya in July 2019. From then on until the end of 2021, Erdogan issued multiple decrees dismissing and hiring several CBT officials. Amid all this, inflation remained elevated, and the lira continued to depreciate at an alarming rate.

这一举动可能与埃罗根（Erodgan）交往，埃罗根（Erodgan）于2019年7月发布了第一份驳回土耳其中央银行（CBT）州长穆拉特·塞替卡亚（Cetinkaya）的法令。从那时起，直到2021年底，埃尔多安（Erdogan）颁布了多个法令，驳回了多个法令，并雇用了几名CBT官员。在这一切之中，通货膨胀率仍然升高，里拉继续以惊人的速度贬值。

"We certainly don't believe in high interest rates. We will pull down inflation and exchange rates with low-rate policy … High rates make the rich richer, the poor poorer. We won't let that happen," Erdogan said.

埃尔多安说：“我们当然不相信高利率。我们会以低利率政策来降低通货膨胀和汇率……高利率使富人更富有，贫穷的贫困者。我们不会让这种情况发生。”

As of 2025, Turkey faces an inflation rate of nearly 40%, according to data source TradingEconomics.

根据数据源交易经济学，截至2025年，土耳其面临的通货膨胀率接近40％。

This episode serves as a cautionary tale for Trump, highlighting that tampering with central bank independence — especially in the face of looming inflation — can erode investor confidence and send the domestic currency into a tailspin.

这一集是特朗普的一个警示故事，强调了对中央银行独立的篡改（尤其是面对迫在眉睫的通货膨胀）可以侵蚀投资者的信心，并将本币送入尾巴。

This does not necessarily mean that the USD will crash exactly like lira but may see significant devaluation.

这并不一定意味着美元将像里拉一样崩溃，但可能会看到大量贬值。

Perhaps it could prove even more destabilizing for global markets, considering the dollar is a global reserve currency, and the U.S. Treasury market is the bedrock for international finance.

考虑到美元是全球储备货币，也许它可以证明全球市场的稳定，而美国国库市场是国际金融的基石。

If better sense fails to prevail, U.S. investors may feel incentivized to move away from U.S. assets and into BTC and other alternative investments, just as Turks did.

如果更好的感觉尚未占上风，美国的投资者可能会激励从美国资产转移到BTC和其他替代投资中，就像土耳其人一样。