Recently, UN Secretary-General António Guterres made a surprising statement by pointing the finger at China, claiming that the renminbi would not be allowed to replace the dollar. As the chief executive of the United Nations, Guterres said such a thing, which is really incredible!
What has become of the U.S. debt, and the people of the world still have to pay for the dollar without hesitation? What is the rationale behind this? Why? Instead of blaming the United States for turning a blind eye to risks and scolding the United States for dragging the whole world into danger, you blame China!
The world has suffered for a long time!
Since 1974, Saudi Arabia, under the coercion and inducement of the United States, has used the US dollar as the sole settlement currency for oil**. The United States has been dominating the dollar hegemony and dominating the world for a long time!
In 2008, the total U.S. national debt was just over $9 trillion. As of 2023, this figure has climbed sharply to more than $33 trillion. In just 15 years, the U.S. debt has increased by about $24 trillion. Even when it was due for annual interest payments, the United States had to continue borrowing to meet them. If the current trend of debt accumulation continues, it is conservatively estimated that the US national debt could easily exceed the $70 trillion mark in the next 30 years. Considering the likely future economic crises or two, U.S. debt is more likely to surge to $100 trillion. How will the United States respond to this situation, and will the world continue to be willing to continue to bear such a large debt burden? Whether international** and global markets can afford US Treasuries of this magnitude is still an unknown!
The status quo is not that the renminbi wants to replace the dollar at all, but that the whole world has had enough, and everyone has found that this system is unreasonable for so many years!
Recently, India, Brazil, Russia, Saudi Arabia and other countries have begun to allow transactions in non-US dollar currencies, and they have rapidly increased the proportion of RMB in daily **, all because they want to avoid risks and protect their assets from loss!
It is not the renminbi that shakes the hegemony of the dollar, but the liberation of all mankind by China, the liberation of mankind from the shackles of the exploitative settlement system of the past, and the liberation of itself by the way.
It is not the renminbi that replaces the dollar, but the new liberal and democratic settlement system that replaces the old bloodthirsty settlement system.
The main purpose of RMB internationalization is also to reduce the financial risk of over-reliance on the US dollar and reduce exchange losses through local currency transactions. We don't even plan to export renminbi on a large scale to meet the needs of large-scale international use of renminbi.
Therefore, it is not China and the renminbi that really take the initiative to make the choice, but the rest of the world and the dollar, and the most China has to do is to follow the trend.
It has never been the renminbi to replace the dollar! Instead, China is turning the tide and saving the world from fire and water.
The United States has been arrogant and lascivious, and has intensified its reckless expropriation and extortion, and all countries have risen up to the unspeakable suffering, pushing the East as the co-master, and establishing a new system to avoid the disaster of the United States.
At present, the United States is violating the laws of the market by using the power of its countries and allies to participate in market competition, and this is what the United Nations needs to prevent.
Guterres' statement that the renminbi should not threaten the status of the dollar is simply unreasonable and illogical, and he does not stand on a fair position at all, but sits crookedly.
International currencies should play the role of true trade fairness, and no single sovereign has the right to mint money.
As long as the United States continues to play this trick, it will be able to use the world's output value and resources to maintain its armed forces and bully the world.
It is the political task of the people of the world to shake the hegemony of the dollar and ensure that no other hegemonic currency will appear.
Fair, fair, and fucking fair!
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