At sunset, the financial position of the United States, a financial giant, is in jeopardy. On February 14, the outstanding public debt of the United States exceeded $34.2 trillion, accounting for 122.7% of the country's GDP. It's like a great wave in the financial world, coming towards us, sweeping everything. What is even more troubling is that the time required to add $1 trillion in debt has been reduced from the past six years to just three months, which is like a speed frenzy that has dragged the United States into the abyss of debt, and the precarious situation is inevitable.
Financial legend Egon von Greyerz predicted that the United States would be in a debt binge since 1971, when Nixon announced the decoupling of the dollar from gold. In the coming years, a re-evaluation of gold status is imperative. Chen Ping, a wise man with insight into the historical context, pointed out that the value of gold has been fully recognized in human history. However, the country seems to have forgotten the protection of gold, and is in a boundless sea of debt, like a lonely boat on a drift, doomed to sink in a financial storm.
At the moment when the dollar parted with gold, the United States seemed to be sending a proclamation to the world: the end of credit. Since then, the dollar has gradually lost its gold standard and its credit is in jeopardy. In a proposal to the US Treasury Department, Alex Mooney pointed out that the dollar has lost a staggering 98% of its value today, which is not only an attack on the dollar itself, but also a direct challenge to its credibility. The US dollar, once a financial giant, is stepping into the abyss of credit and cannot extricate itself.
In the shadow of the financial crisis, the United States urgently needs to take decisive action to save the economy. Rebuilding financial order and restoring credit is the most urgent task at present. However, this is not an easy task. Debt is high and the financial world is turbulent, and more wisdom and courage are needed to deal with it. It is only through collective efforts that we can reshape the future of American finance and meet new challenges.
The world of finance is like a never-ending interpretation. With heavy debts and a lack of credit, the once financial giants are on the verge of collapse step by step. However, the wheels of history do not stop turning. In a crisis, there are also opportunities. Only through unity and wisdom can we save the end of finance and usher in a new dawn. This is a challenge, but also a journey of rebirth.