The United States has done the same thing again, and with the influence of a series of international events, it has once again started the road of dollar harvesting. However, this time, the global harvest of the dollar is obviously overwhelming. But it is worth noting that in order to help the United States, Japan is prepared to devalue the yen by 40 percentage points. This operation can be described as collusion. What the hell is going on here?
Looking back at history, we can find that since the establishment of the Bretton Woods system, the US dollar has established its hegemonic position and has been affirmed by other countries. At that time, the dollar was linked to gold with a fixed gold content, while other countries' currencies needed to be exchanged for gold at a fixed exchange rate. Because gold itself is an extremely valuable commodity, the dollar linked to it has also achieved the dollar standard of the global currency.
With the guarantee of gold, the dollar has also become a seemingly non-depreciating currency. Countries are also convinced of this, so they began to realize frequent trade with the United States in exchange for a large amount of US dollar reserves and the purchase of US debt. On the one hand, this makes a large amount of foreign exchange funds flow into the American market, accelerating the construction of the American industrial market and the development of the domestic economy; On the other hand, the dollar has also established a stable position as the world's first currency.
After the formation of the dollar globalization system, the Federal Reserve, which issues dollars, undoubtedly has a broad operating space. They have obtained a large number of high-quality resources and high-value goods by issuing a large number of dollars. After a large number of US dollar bills flow to the world, the Fed can also raise interest rates and then let the US dollar flow back, thus giving blood to the US economy, completing the corresponding closed-loop trade, and playing a role in harvesting the world.
In addition, by issuing dollars, the Fed can "eliminate" the risk of domestic inflation. It is worth noting that from a macro point of view, the risk of inflation has not been eliminated, but has just been transferred to other countries. Under the harvest of dollars, we can also see that the United States has seized a lot of assets and resources, making the harvested countries miserable.
Vietnam, for example, earned foreign exchange in dollars for a living at that time, but their dollar assets were greatly reduced because of the over-issuance of dollars. Another example is the financial crisis that broke out every few years, which also caused serious economic losses to a large number of harvested countries. But the action of harvesting global dollars has never stopped, and the corresponding layout has also appeared in the last two years.
In recent two years, due to the geopolitical situation caused by corresponding international events, the US dollar has once again found the opportunity to harvest the world. While the dollar is playing a role in the global trade market, we can see that many countries are almost "bankrupt". For example, Lebanon and Sri Lanka, which recently declared its foreign debt difficult to repay, turned to our country for help. However, this dollar harvest seems to be different from the past, and it is indeed a bit overwhelming.
The harvesting action of USD this time is not based on the world market, and the main harvesting environment is Europe. However, according to relevant market statistics, the results of this dollar harvest are not satisfactory. Before the geopolitical conflict broke out, only net assets worth 654.38+093 billion yuan flowed into the United States. Compared with last year's situation, it is almost half less. It seems that this dollar harvest has not played its due role.
At the same time, judging from the current international situation, all institutions in the market seem to think that the dollar will fall into the so-called stagflation state, and most countries no longer recognize the value and status of the dollar, and accelerate the process of dollarization. This time, the dollar harvest was really not smooth. At this time, Japan began to prepare to add fuel to the fire and help the United States with currency depreciation.
In fact, the development of Japan in the last two years has not been very smooth. The single industry, coupled with the persistent impact of the epidemic, made Japan import a large number of goods, but the export trade data was difficult to improve, resulting in a trade deficit in Japan for half a year. In order to alleviate this situation, the yen must depreciate sharply to stimulate exports and ease the domestic trade deficit.
So what we can see is that the yen has depreciated a lot recently. At this point, the yen exchange rate has depreciated to 125. According to the record of the last dollar harvest, the yen will continue to depreciate to the extent of 180, which means that the yen will depreciate by 40 percentage points again. Then, after the yen depreciates, the dollar will definitely get corresponding benefits from it.
Why do you say that? After the sharp depreciation of the yen, export trade will be stimulated, and resources and commodities on the market will begin to flow into the Japanese market. At this time, American financial institutions and enterprises can take advantage of the opportunity to come to Japan for financing and bring all resources and wealth into the American market. Simply put, Japan's actions have shaped a bridge for dollar harvesting, enabling it to achieve dollar harvesting with the help of Japan.
Of course, Japan did this not just to please the United States, but for the development of its own country. Japan itself obtains wealth by buying other countries' assets in the global trading system, and Japan needs a lot of money to buy high-quality assets. After the depreciation of the yen, Japan can issue a large number of bonds and loans, thus ensuring the stability of domestic assets and the normalization of interest rates, which is also beneficial to the United States.
Based on the full text, the US dollar has started the next global harvest with the help of the current market environment, but the harvest result of the US dollar this time is very unfavorable and has not played a corresponding role. However, the depreciation of the yen has shaped a bridge for the global harvest of the dollar and played a role in fueling the situation. However, it is not that simple for the dollar to achieve a global harvest this time, and other countries will not easily fall into such a trap.