"As for the settlement of foreign exchange in the yen alone, since yesterday afternoon, those overseas banks have already thrown out $300 billion in foreign exchange reserves!" Junji Sato went on to explain.

"As a result, the dollar reserves held by Japan's overseas banks have been almost completely depleted. ”

"Yesterday afternoon?300 billion US dollars?" Lily was stunned when she heard this, and understood like an enlightenment, it turned out that Qiao Tianyu wanted to start from this aspect!

Here is a brief explanation of why the world's raw material exporters were able to quickly "force" Japan to spit out its dollar reserves.

Actually, this is not difficult to understand.

As an island country, Japan is a small land, and all kinds of means of production and natural resources are quite scarce, and most of the materials used in the production of Japanese enterprises are imported from other countries.

As the world's second largest economy, Japan has a very developed high-end manufacturing industry, which can be said to be at the top of the global manufacturing production chain, so it needs to import a large number of industrial raw materials and materials from other countries every year.

For example, most of Japan's oil is imported from Saudi Arabia, the United Arab Emirates, Iran and other countries in the Middle East, most of the steel and various profiles are imported from China and South Korea, and most of the rubber is imported from Thailand, Myanmar, Indonesia and other countries in Southeast Asia, and so on.

In fact, for other countries, most of the import and export trade is done using the international currency US dollar or British pound to do transactions, but for Japan, it has its own peculiarities.

After World War II, with the recovery and rapid rise of the Japanese economy, Japan became the world's second largest economy after the United States, and the international status of the yen also increased rapidly, becoming the third largest international reserve currency after the US dollar and the British pound.

As an international reserve currency, the yen has been given more new functions, such as the yen can be used directly as a transaction currency for international trade.

As a result, Japanese companies do not need to convert into U.S. dollars or pounds sterling when trading with companies in other countries, and at the same time, they avoid the risk of exchange rate fluctuations, which is the biggest risk of international trade.

Another example is that the yen is the international reserve currency, and Japan can harvest the "leeks" of other countries by devaluing the yen, and occupy the fruits of the hard work of the people of other countries without compensation.

You know, "harvesting leeks" can be called the biggest dividend as an international reserve currency issuer, and Americans are especially happy about this benefit.

Therefore, the yen has become an international reserve currency, which has really brought great convenience and additional dividends to Japan and Japanese companies, so Japan has been trying to retain this dividend by all means and maintain the status of the yen as an international reserve currency.

In order to maintain the yen's status as an international reserve currency, it is necessary to ensure the free convertibility of the yen and the dollar.

If the demand for yen against the dollar in other countries is not met one day, it will cause great panic in the market.

At that time, countries around the world will not dare to hold the yen anymore for fear that the yen they hold will become a pile of waste paper, let alone accept the yen in international trade.

The yen's status as an international reserve currency will also be lost, which is the last thing Japan wants.

In fact, this is the fundamental reason why Japan has the world's largest foreign exchange reserves of 2 trillion US dollars!

The $2 trillion in foreign exchange reserves, which the Japanese have bought for the yen's status as an international reserve currency, is to be able to cope with a large-scale yen run at any time.

As an aside, since the 80s, the reason why Japan has high foreign exchange reserves has puzzled the world economic community.

Generally speaking, a country holds high foreign exchange reserves to maintain its fixed exchange rate system from shocks, while Japan has a floating exchange rate system, and there is no need to maintain a fixed exchange rate system.

It was not until the turn of the century that this problem was slowly resolved, and the world learned that the original intention of the Japanese in holding high foreign exchange reserves was to maintain the yen's status as an international reserve currency.

Of course, all this is well known to Qiao Tianyu, who has the advantage of rebirth, and for other normal people living in 1994, they have been kept in the dark by the Japanese.

In other words, the bad deeds of the Japanese in deceiving the world really abound!

To sum up, due to the rapid development of the Japanese economy and the establishment of the yen's status as an international reserve currency in the past two or three decades, central banks and private enterprises around the world have held a large amount of yen reserves.

When these countries chose to submit a request to Japan for the exchange of the yen, the Bank of Japan in order to maintain the status of the yen as an international reserve currency, even if it broke its teeth, it must honestly exchange the yen into dollars, otherwise the status of the yen as an international reserve currency will be completely shaken.

Lily also has the advantage of rebirth, but Lily forgets the reason why Japan has high foreign exchange reserves.

If it weren't for the fact that the yen run in various countries around the world had happened at this moment, it is estimated that Lily would not have figured out the real goal of the five major investment banks on Wall Street and international hedge funds to short the yen.

It turns out that what the five major investment banks and international hedge funds on Wall Street want to attack is not the "fixed exchange rate system" in the usual sense, but the status of the yen as an international reserve currency!

Until this moment, Lily finally understood Qiao Tianyu's good intentions, this time Qiao Tianyu asked Japan to pay, not just tens of thousands of tons of gold.

This time, what Qiao Tianyu wants to completely shake is the foundation of the entire Japanese finance--- the status of the yen as an international reserve currency!

In other words, Qiao Tianyu has played big enough!

And at this moment, Lily finally understood, no wonder one of Qiao Tianyu went to Huaxia and visited so many steel companies, while the other Qiao Tianyu went to the Middle East and visited the Saudi royal family and Dubai.

It turned out that the target of those two Qiao Tianyu was not gold, they were going to the raw material exporters of those countries!

But at least Lily didn't guess wrong, Qiao Tianyu was laying out from the beginning, but Lily didn't see it through.

Just when Lily was stunned, her car had already galloped to the door of the Bank of Japan, and Junji Sato and Akita Takahashi, Deputy Governor of the Bank of Japan, had already been waiting at the door of the Central Bank in a panic when they learned that Lily was coming.

There were only fifteen minutes left before four o'clock in the afternoon, and there was no time to say hello or nonsense, so Lily got out of the car and immediately walked briskly to the trading command hall on the second floor of the central bank.

"Sato, what is the situation now, except for the 300 billion US dollars exchanged by the raw material merchants of various countries?

"Boss, according to the data provided by Vice Governor Takahashi just now, as of yesterday morning, Japan held a total of $2.33 trillion in foreign exchange reserves in the United States. ”

Junji Sato quickly took out the "cheat sheet" and immediately reported.