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One of the important issues of Blinken's visit is overcapacity, which is just an attempt to maintain the hegemony of the dollar.
The U.S. dollar has been out of the gold standard since 1972 when the Bretton Woods system began, and before that, the United States printed as many dollars in bills, and how many ounces of gold as a hedge, which was so troublesome.
As a result, U.S. bills began to decouple from gold, but this will not work, it must always anchor a commodity, right?
This commodity must be massive, and it must be universal, so that the black guy of oil has become a commodity anchored to the dollar.
The big black guy always has the gene to run fast, this guy ran out of Russia, Venezuela, Iran, Saudi Arabia and other places, but the big black guy is pinched by the United States, whoever is disobedient will fight whom, the war in Iraq, the war in Syria, and so on are all for this reason. As a result, U.S. dollars began to be printed on the ground, and global wealth began to flow into the United States.
But now it can't be done, Iran has fought the night column, and the Middle East has begun to change dramatically, with the establishment of diplomatic relations between Saudi Arabia and Iran, which has shaken the barrel of American oil in the Middle East. Russia, as an energy exporter, has directly annoyed Europe, and even its little brother Venezuela has risen up, and the oil-producing country in the Americas has also announced that it will be settled in yuan.
What does this mean? It means that Russia, Iran, Venezuela and other oil-producing countries are now settling in RMB, which means that the current hegemony of the US dollar is collapsing.
With the dollar all disintegrated, how can the United States reap China's benefits? That's why the currencies of South Korea, Japan, Indonesia, and other countries have recently depreciated, but we have not been affected much.
The United States is really in a hurry. If you think about it, US dollars are worthless according to the logic of oil bundling, so what about fields like automobiles, machine tools, electrical appliances, steel, and rare earths?
Because China is a big manufacturing country, now the renminbi is absolutely out of the United States in addition to the collapse of oil in oil, and it is also stuck in the neck of the United States in the fields of manufacturing and rare earth minerals.
So we saw that the U.S. House of Representatives recently said that they would kick us out of the SWFIT system, and we didn't care, and there were not many people who dared to fight with us, and we won the Korean War at the beginning, and today we can win the currency war.
