财务专家正在浪费美国总统特朗普的关税政策，而一些分析师则强调，比特币在全球不确定性时期显示其独特的经济性能。

金融专家正在浪费美国总统特朗普的关税政策，而一些分析师则强调，比特币在全球不确定性时期显示其独特的经济性能。

Financial experts are trashing U.S. President Trump's tariff policy, while some analysts highlight that Bitcoin (BTC) is demonstrating its unique economic properties in a time of global uncertainty.

财务专家正在浪费美国总统特朗普的关税政策，而一些分析师强调，比特币（BTC）在全球不确定性时期证明了其独特的经济性能。

Trump’s decision to take a 90-day pause on reciprocal tariff hikes and return to a 10 percent baseline for most countries (except China) has exposed the vulnerabilities of the U.S. bond market, critics say.

批评家说，特朗普决定在相互关税上远足进行90天的暂停，并在大多数国家（中国除外）恢复到10％的基准，这使美国债券市场的脆弱性暴露了。

Economist and Bitcoin Standard author Saifedean Ammous pointed out that Trump's decision to cancel the increased tariffs was a reaction to rising bond yields, suggesting the forced nature of the administration's move.

经济学家和比特币标准作者塞菲德（Saifedean）充满了动荡指出，特朗普决定取消关税的决定是对债券收益率上升的反应，这表明政府行动的强迫性质。

"Trump fought the bond market and the bond market won," wrote Ammous on April 23 on social media X. "The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability."

4月23日在社交媒体X上说：“特朗普与债券市场作斗争，债券市场赢得了奖励。

"But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market."

“但是随后债券开始崩溃，很清楚的是，关税是多么灾难性，以及期望故意崩溃股市的错误是多么错误。”

Treasury bond yields surge after tariff maneuvering

债券债券在关税操纵后产生激增

After Trump's tariff announcement, 10-year Treasury bond yields jumped from less than 4% to 4.5% amid a sell-off driven by inflation and recession fears.

在特朗普宣布公告之后，由于通货膨胀和衰退恐惧驱动的售罄，十年期债券收益率从不到4％到4.5％。

1-week chart of 10-year U.S. Treasury bond yields. Source: TradingView

1周的美国国库债券收益率为10年。资料来源：TradingView

"The rise in yield was the exact opposite of what the administration wants, and pulling back on tariffs 12 hours after they went into effect will be absolutely devastating to Trump's negotiating position," Ammus noted.

Ammus指出：“收益率的上升与政府想要的完全相反，在生效后12小时退回关税将绝对造成特朗普的谈判地位。”

"Also, all the talk of China caving to Trump's threat sounds frankly ridiculous, given that Trump couldn't keep his tariffs in place for two days, and the Chinese have shown absolutely no willingness to come to the table and make a deal."

“此外，鉴于特朗普无法将其关税持续两天，而且中国的所有谈论都坦率地说，坦率地说，坦率地说，中国人绝对不愿意参加餐桌并达成协议。”

Trade wars revive the need for a Bitcoin standard

贸易战恢复了对比特币标准的需求

The situation has now brought back long-standing proposals to back the U.S. dollar with Bitcoin.

现在，这种情况已经带回了长期以来的建议，以支持比特币的美元。

Ammous said the U.S. should continue to buy BTC until the government owns enough to fully back the dollar mass, eventually moving to a Bitcoin standard: "Continue to buy Bitcoin until the value of Bitcoin held by the U.S. government is sufficient to back the entire U.S. dollar mass, then move to a Bitcoin standard in which dollars are exchangeable for Bitcoin, and let the right unfold naturally."

Ammous表示，美国应该继续购买BTC，直到政府拥有足够的资金来支持美元质量，最终转向比特币标准：“继续购买比特币，直到美国政府持有的比特币价值足以支持整个美元的整个美元质量，然后以哪些美元的价格转换为比特币，让比特币自然而然地自然而然。”

Historically, the dollar was backed by gold and was exchangeable for a fixed amount of the precious metal until 1933, when President Franklin D. Roosevelt suspended gold convertibility in response to the Great Depression.

从历史上看，美元得到了黄金的支持，直到1933年，富兰克林·D·罗斯福总统暂停了黄金兑换性，以应对大萧条，直到1933年才能使用固定数量的贵金属。

In 1971, President Richard Nixon halted the convertibility of the dollar into gold in an effort to protect U.S. gold reserves and stabilize the economy, beginning the fiat currency system that exists today.

1971年，理查德·尼克松（Richard Nixon）总统停止了美元向黄金的兑换性，以保护美国黄金储备并稳定经济，从而开始了当今现有的菲亚特货币体系。

Bitcoin's fixed supply, which is hard-coded into its tokenomics, is gradually making it a preferred alternative to gold.

比特币的固定供应将其硬编码为标记学，逐渐使其成为黄金的首选替代品。