China News Service, Beijing, May 6 (Reporter Xia Bin) U.S. inflation data has refreshed peaks for several consecutive months, breaking the historical highs of the last 40 years.
According to official data, the U.S. CPI in March increased by 8.5% year-on-year, and the core CPI after excluding food and energy categories with high price volatility increased by 6.5% year-on-year. highest value.
Why is the "up" trend so turbulent?
In the final analysis, under the blessing of US dollar hegemony, the United States has resolutely adopted an ultra-loose economic policy at home and imposed a series of sanctions externally.
With the Bretton Woods system, the US dollar is linked to gold, crowning the "US dollar" and sitting on the status of the world currency.
After the collapse of the system, the United States used its military strength to closely bind the U.S. dollar to oil, forming a powerful international currency settlement system dominated by the U.S. dollar. The dollar hegemony created by the U.S. has become a weapon of financial sanctions and a tool to harvest the wealth of other countries. machine.
In response to the impact of the new crown epidemic, the super quantitative easing in the United States has led to a "big release" of liquidity, which has pushed up inflation. In the conflict between Russia and Ukraine, the United States has frequently imposed sanctions on Russia while fanning the flames, which has affected international energy, food and other commodities. The surge in prices has once again "hammered" the global supply chain, which has also increased the cost burden on domestic consumers in the United States.
Connery, the Secretary of the Treasury during the Nixon administration, once said, "The dollar is our currency, but it is your trouble." But now, in the face of the thorny situation of high domestic inflation, the dollar has become the trouble of the United States, and the dollar hegemony It's also attacking the United States.
In the process of imposing "seigniorage" on the world, passing on its own economic risks and bubbles, and recklessly wielding the stick of sanctions, the US dollar hegemony has pushed some countries to start the process of "de-dollarization".
On the one hand, it is actively "risk-off" to avoid falling into the credit crisis of the United States.
As of late April, Japan, the largest foreign holder of U.S. Treasuries, had net sales totaling $60 billion in U.S. debt over the 13-week period.
The Bank of Japan said that it will buy unlimited Japanese government bonds when necessary.
In fact, after the outbreak of the new crown epidemic, central banks of various countries have experienced a round of "selling tide" of US bonds, including Russia, Germany, France, Italy, and the United Kingdom, all of which have increased their efforts to sell US bonds.
On the other hand, it is necessary to break through the "blockade" of the US dollar and establish a settlement system independent of the US dollar.
For example, Europe and Iran have established a settlement system, and European countries participating in the system import oil from Iran, which can be settled in euros or in RMB.
In recent years, almost most of the G20 countries, including China, France, Germany, Russia, India, Turkey, etc., have announced that they will reduce the use of the US dollar in major commodity trade transactions and bilateral currency settlements, or even abandon the US dollar and use other currencies.
The harder you press the spring, the stronger the rebound.
The deeper the US dollar hegemony oppresses other countries, the stronger the resistance will be, and this de-dollarization trend will have an impact on the status of the US dollar.
As Dario, the founder of Bridgewater Fund, said, the life cycle of the dollar has reached the end state, the debt dollar bubble will burst, printing paper money and credit and internal conflicts, if you continue to use worthless currency to plunder other peoples of resources and factories, will of course lead to a revolution in the redistribution of wealth.
(Finish)