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To explain that the large number of US dollars are issued without causing frequent and serious inflation as other countries, it is actually a very difficult problem, but it is a very meaningful problem. The following is an attempt to explain from two aspects: international currency and inflation buffer mechanism:
On from the international currency level, it is necessary to become a large amount of currency circulation in international currency: 1. The first is liquidity. To ensure the liquidity of an international currency in the world, a large amount of currency is required. The international foreign exchange market, the international commodity futures trading market and the currency gold trading market, these two areas should consume an estimated $ 4 trillion liquidity. In other words, about 4 trillion US dollars circulate in these two fields. (4 trillion is just an estimate) 2. The particularity of the US dollar is that its currency support is US Treasury bonds. At present, the US 14 trillion government bonds must be circulated, and it must also occupy a large number of US dollars. 3. Foreign exchange reserves of various countries occupy a large number of dollars. Although most of the foreign exchange reserves of various countries are US Treasury bonds and other types of assets, there will still be a large number of US dollars in savings accounts of various countries. 4. A large number of international trade is carried out by the US dollar, so it will also occupy a large part of the dollar. 5. The US capital market, that is, the stock market is also a major field to occupy the liquidity of the US dollar. 6. The domestic US dollar liquidity scale is calculated in M2, about 8 trillion, it is also a large number. 7. International illegal transactions, such as drugs, are settled in US dollars or even US dollar cash. It also occupies a large amount of liquidity of the dollar and is the liquidity of US dollar cash. The dollar liquidity occupied by various fields may overlap, but it can be seen in general why the US dollar has such a large scale. Therefore, if you see the current QE2 program of the Federal Reserve, it ultimately increase the liquidity of $ 600 billion to the market. It is not necessary to be surprised. This number is comparable to the sum of the US dollar currency stock of all global markets.
The countries in many countries in the world have risen inflation due to the rise in the price of food, oil and other commodities, but the United States still seems to maintain a very low inflation rate. Among them, there must be some buffer prices. Rising mechanism: 1. The index of the United States calculated the inflation rate is the so -called core inflation rate, which does not include food and energy. Their reason is that these products are affected by the season and other factors, and cannot truly reflect the domestic economy. Therefore, the meaning of the US inflation rate itself is different from other countries. 2. Especially for food, because the United States is a large food producer, and food consumption costs account for a small proportion of the US per capita income. Therefore, rising food prices will not affect the life of Americans within a certain period of time. The rise in oil prices directly leads to an increase in gasoline prices that are closely related to people's lives. Although other chemical industries connected by oil will also be under pressure from price increases, there will be a certain lag in time. 3. Due to the high profit margin of American products, especially industrial products, the price increase brought by the rise in the cost of digestive materials is relatively strong. On the other hand, as many basic industrial products in the United States are imported from abroad (now mainly imported from China), the pressure on the price increase caused by material costs has been digested in exporting countries, which also reduces and delays cost -rising prices. 4. When the price of materials rises to other countries, other countries must take tightening measures to control inflation. If the buffer mechanism in the United States is still valid, the efforts of other countries have controlled inflation, and the pressure of inflation in the United States will be puzzled. In this sense, Americans are so lucky.
The reasons in the above two aspects can generally explain why the United States issued so many dollars, but there is no serious inflation. But will the United States enjoy this luck of inflation? Maybe not. The weakness of the United States is its huge fiscal deficit. Although the huge economic scale of the United States has beyond imagination, when the huge debt reaches a certain degree, debt interest will be a great burden on the US economy. In addition, the amount of US Treasury issuance is limited by US law to a certain extent. Perhaps at some time in the future, it will greatly increase the overall credit costs of the United States, and the increase in credit costs will be increased due to the high dependence of US economy to credit. And it can have a great impact on the US economy. If the cost of credit increases and even a certain degree of crisis, the delayed inflation pressure is in a period of manifestation, and the United States will not be so lucky at that time. However, it is best not to happen in this situation, otherwise it will affect the global economy, not only because the importance of the US economy to the global economy, but also because other countries have not made enough in -depth research on this rarely incident So fully prepared.
The US -printed banknotes all bought other countries and national debt. They are not in the United States at all, but the exchange rate of the US dollar in the international US dollar is lower. This is the purpose of the United States to achieve. Entering, thereby alleviating the domestic enterprise and the unemployment rate, reducing the unemployment rate and suppressing imports. In this way Naturally, the prices of domestic products cannot be raised. They cannot see inflation. What's more, when their products are exported, they have the price advantage of the price before. Developed countries.
Because he is a large number of coinage taxes of the world currency (after the Bretton Forest system can be called this), a large number of coinage taxes have been earned in order to maintain its economic and military technology as a superpower, so he is not afraid of inflation The recession uses the quantitative policy output inflation, so the root destroying its status is changing the international currency system last year Zhou Xiaochuan's words in Europe made the United States afraid that the world currency system China believes that it will change to change.
Tell you more popular:
The concept of world currency is a currency that can be circulated largely.
. For example, in China, the rice tickets in Renminbi and your school are the US dollars and RMB in the world.
If a lot of currencies issued by China, it is difficult to compare with the rising rice price caused by a lot of more meal tickets.
The issuance of banknotes (ie, credit vouchers) can be diluted in large range.
The United States is a world currency, and there are many places that can be diluted.
compared the RMB to the rice ticket, you know the dollar to the RMB.
If you want to know more about financial knowledge, please search Baidu: "Future Bloods".
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