DEBT!

Debt is the foundation of the financial market, exerting a crucial influence. Big money is always tied to debt—without exception! Debt is the simplest way to transfer and plunder wealth, and it also serves as a very important tool for wealth distribution. In fact, most countries around the world are currently heavily indebted, facing a substantial debt burden.

Japan's economy has been sluggish for a long time, and the income of its citizens ranks at the bottom among developed countries. Behind this lies the massive burden of government debt. Similarly, during the European debt crisis, the Southern European countries were suffocated by overwhelming debt.

When major economies face immense debt pressure, their monetary policies will inevitably prioritize 'debt resolution.' The heavier the debt burden, the less valuable the fiat currency might become. Exchange rates merely reflect the relative decline among different debt-laden currencies, and the real opportunities are never in the exchange rates.

Ultimately, under the weight of significant debt burdens, central banks in various countries must carefully maneuver between preserving fiat currency and managing debt, striving to maintain a precarious balance. This is also why gold has been in a long-term upward trend against all fiat currencies!