Let's talk about surplus first. I, an enterprise, produced 8 million yuan of products and exported them to the United States. The Americans didn't have RMB, so they gave you $6.5438+0 million. But you don't want US dollars, because US dollars can't circulate in China, so you have to go to the foreign exchange management agency that issues RMB in China, and convert this 8 million US dollars into RMB. You gave the bank 1 million dollars, and the total foreign exchange reserves of the country increased by 1 million dollars. At the same time, the bank gave you 8 million RMB, so the total amount of domestic currency in circulation increased by 8 million RMB.
In addition to investment, foreign countries are also optimistic about your economic development and give you investment. He has no RMB, so he can only give you US dollars. He gave you 654.38 million dollars. Can't spend dollars. You have to go to the foreign exchange administration to give him $6,543,800 and get back 8 million RMB. This 8 million is also a new total currency. When the country's total foreign exchange reserves increased by $65.438 billion, the total domestic currency also increased by 8 million yuan.
So what are foreign exchange reserves for? Let me give you an example: I want to buy foreign products with $6.5438+0 million, but I don't have any dollars. Because RMB is circulating in China, I will give the bank 8 million. It will recover the 8 million yuan and give me $6.5438+0 million, so that I can go abroad to buy goods with $6.5438+0 million for import. At this time, the country's total foreign exchange reserves decreased by $65.438 billion, and the total domestic currency also decreased by 8 million yuan.
In a word, the growth of total foreign exchange reserves is in step with the growth of total domestic currency. Every unit of foreign exchange reserves increases, the total domestic currency will increase by a corresponding amount.
The increase of the total amount of money must be based on the equal increase of the total amount of goods, otherwise inflation will occur. With the increase of domestic currency brought by import surplus, its products are exported to foreign countries. At this time, its form of expression has become a foreign exchange reserve lying on the books of the State Administration of Foreign Exchange. It is also a commodity, a special commodity that can be exchanged for products produced abroad at any time, and its total amount is equal to the total amount of money issued in the above-mentioned fields in China. With it, extra money can buy goods, that is, first exchange it for foreign exchange reserves, and then buy foreign goods-that's also goods! Without it, the additional money can't buy the corresponding goods, because the total domestic goods haven't increased. What are the consequences? Inflation.
China's total international reserves exceeded $2 trillion, making it the largest foreign exchange reserve country in the world. What does this mean? In other words, at least 15 trillion RMB of the currency issued in China comes from this pile of foreign exchange. Without them, this 15 trillion RMB is waste paper, which is equivalent to 1 1400 pieces of waste paper per person in China.
Our foreign exchange reserves are national assets, but they are not net assets and cannot be spent. This $2 trillion foreign exchange reserve has been expressed as 15 trillion new currency in China, and the domestic money used to improve infrastructure, increase people's welfare and vigorously set up education can only be drawn from this 15 trillion. The existence of this 15 trillion is another manifestation of that 2 trillion. The money already spent can't be spent any more.
If you want to use it in China, you can understand it this way: SAFE sells its foreign exchange reserves, such as 1 trillion dollars, to itself, because it can only be sold to itself, and others can't buy RMB. 7.5 trillion yuan was obtained and invested in domestic economic construction, and 7.5 trillion yuan was specifically issued for investment. At this time, the foreign exchange reserves are left-handed in and right-handed out, and they are still 10 trillion US dollars. The total domestic currency has increased by 7.5 trillion out of thin air, and no corresponding commodities have appeared. Hehe, 7.5 trillion, the proportion of inflation, for an economy, there are many ways to die, and such a creative way to die is simply gorgeous (last year, China made more than 6 trillion yuan, and this year, the price pressure of various domestic necessities is great, and inflation is obvious).
In short, a country has the ability to turn paper into gold (print money), but it has no right to use this ability indefinitely. If it does not print money blindly according to the needs of market circulation, it will devalue its own currency (such as legal tender in the late Republic of China).
In the United States, his foreign exchange reserves are mainly gold reserves, because it can't reserve dollars, which is its domestic currency, and it can't reserve too many foreign currencies weaker than its domestic currency-that leaves gold.