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In a changing world, the announcement on July 26 once again shocked the world. Fed Chairman Jerome Powell announced a 25 basis point rate hike, which is already the 11th rate hike in the United States, kicking off an unprecedented "predatory operation".
There is no doubt that the US debt crisis has been hanging over the US like a ticking time bomb. The interest expense on the US national debt has exceeded the military expenditure, and the huge debt on the US has left the government in a difficult situation that cannot be repaid. The only way out is for other countries to pay for them.
The US government had no choice but to try to get China and other countries to buy US bonds through visits to China and other means, but due to the impact of selling US debt and the international situation, the results did not seem to be satisfactory.
The United States has only one last means left, which is the "Fed raising interest rates". This is regarded as an act of "robbery", by controlling the amount of money in circulation, to achieve the purpose of "plundering" the wealth of other countries, although conspiratorial, it is an old way for the United States to deal with the economic crisis.
However, States are not prepared to hold their hands at the table. The hegemony of the dollar has already made many countries in the world dissatisfied, especially after the conflict between Russia and Ukraine. The United States banned Russia from continuing to use the dollar under the pretext of "supporting Ukraine", a policy that has put the Russian economy in trouble, but also caused the US government's credit crisis.
The United States is struggling with "the world's suffering for a long time." However, China and other countries have long since begun to increase their gold holdings, seeking to shake off the hegemony of the dollar. Bolivia announced that it would join the de-dollarization process and use the renminbi for trade settlement, becoming the third country in South America to use the renminbi.
History will continue to move on, and the United States is no longer the only option. Whether the United States wants to admit it or not, times will change. A U.S. Treasury official expressed pessimism that a decoupling would have "catastrophic" consequences, warning the United States to proceed cautiously.
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