Beginning in the 70s of the 20th century, due to the spread of the economic crisis, the dollar began to depreciate sharply, and the United States, when there was a trade deficit, could not fulfill the promise made at the previous meeting - to exchange business with huàn gold. However, governments and major banks still position the settlement currency of gold on the US dollar, which makes the US dollar exchange rate have a negative correlation with the trend of gold prices - once the US dollar, which is the foreign exchange reserve of various countries, depreciates, it will make governments sell US dollars in exchange for gold with value preservation, thus causing gold prices to rise.

Under such circumstances, the fixed exchange rate between the dollar and gold can no longer be implemented.

In 1975, the "self-centered" United States again found a relationship that suited its own interests -- a link to crude oil.

As a result, the United States and OPEC (including Iraq, Iran, Saudi Arabia, Venezuela and other major crude oil exporters) held many consultations, and finally reached an agreement to trade crude oil only in US dollars.

In other words, the U.S. dollar has become the currency of international crude oil pricing and settlement, and the rise in crude oil prices will increase the demand for U.S. dollar payments, thereby increasing the nominal exchange rate of the United States.

At the same time, the United States is also the world's largest consumer of crude oil, so the real exchange rate of the dollar will also rise.

As a result, the market has seen the following situation arise in the market: buying US dollars → buying crude oil→ demand for crude oil payments increases→ exchange rate rises.

In fact, the rising price of crude oil has put pressure on the rise of the dollar exchange rate.

That is, the rise in crude oil prices → the increase in operating costs in all walks of life→ the rise in the prices of other commodities→ increase in the consumption costs of residents→ minimize consumer demand→ consumer confidence index declines→ the US economy shows signs of slowing down or even recession→ exchange rate declines→ dollar depreciation.

Although the depreciation of the US dollar can promote US exports and stimulate investment activities in the market to a certain extent, it reduces the willingness of US dollar-denominated crude oil producers to increase production to curb oil prices, and brings up oil prices, that is, the depreciation of the US dollar→ the decline in US dollar crude oil prices→ the reduction of production by crude oil producing countries (market demand has not decreased), → short supply of crude oil→ rise in oil prices → stimulate market speculation → push up oil prices → the strengthening of the US dollar exchange rate.

For this reason, the relationship between the dollar and crude oil has inadvertently begun a negative correlation journey similar to a "seesaw".

But the asymmetry of the petrodollar leads to the separation of its rights and obligations, and the United States manufactures rights (dollars). To maintain the credit and deterrence of the dollar (dollar force), the oil-producing countries provide obligations (oil), and as long as the US force can still conquer the world, you can exchange the dollar for anyone's oil resources.

By locking up oil, Americans enjoy the right to fill in dollar checks for debts, and have the obligation to maintain dollar credit and dollar force.

As long as the world's crude oil is still trading in dollars. The oil-based dollar will not collapse.

Once the right to exchange dollars for oil is violated, the United States has an obligation to defend the dollar by force (deterrence). So even though the war in Iraq cost the United States a lot of manpower and material resources. However, all activities that challenge the oil standard must be severely cracked down, so the United States is not attacking them for no reason.

The U.S. dollar will either fail because the U.S. force is insufficient to protect the oil standard, or the U.S. dollar will fail because it is not enough to protect the oil standard, or the U.S. dollar will fail because in actual international activities, because as long as there is an oil standard, the United States has the global strength to fight against any activity that challenges the oil standard.

So it's hard for the dollar to collapse quickly.

But the appearance of the Golden Dragon battery has allowed China and Russia to see the dawn of picking the Americans off the horse.

The upcoming Eurasian New Energy Investment Bank. It is undoubtedly a major challenge to the petrodollar, the international financial system, and as for the 30 percent of the shares to be raised from countries around the world, it is clear that China and Russia have made the choice to make concessions.

There is no one who would not be interested in investing in this bank!

Especially if it's tied to an emerging energy system!

……

Washington, White House conference room.

O'Guanhai sat at the top of the conference table, and Secretary of State Hillary Clinton, Secretary of the Treasury Timothy Geithner, Secretary of Defense Leon Panetta, CIA Director David Petraeus, Chairman of the Joint Chiefs of Staff General Mike Mullen, and Director of the National Security Agency Alexander lined up on either side of the table.

Although it has entered the Christmas holidays, these senior US military and political officials are busier than usual.

The situation in the Middle East has intensified, and the diplomatic game between various countries has also entered a critical period. But the situation in the Middle East is not much less concerned than any of the belligerents.

However, the focus of this meeting was not on the Middle East.

The White House secretary sent a copy of the document to everyone in attendance, and it was very fast. All that was left in the conference room was the rustle of the pages as I flipped through the pages......

Secretary of State Hillary Clinton reacted the fastest, and not long after she flipped through the text, she couldn't help but lose her voice: "What's the situation? The Chinese actually want to cooperate with the Russians to set up a new energy investment bank?!"

Everyone understands what stands behind the so-called new energy investment bank, which means that a new international financial system is about to be born.

For a moment, everyone looked up at Okukanhai.

Aoguanhai's face was heavy. Nodding his head, he said: "This is the information we just received from Moscow, China's Grand Elder has reached an agreement with Russian President Dmitry Medvedev on the new energy investment bank, the specific cooperation plan is not yet clear, but there is an important point, China and Russia have decided to give up part of their shares." Raise funds from countries around the world!"

"What? Are the Chinese crazy?"

"How can they do that? Don't they know how big the stakes are behind it?"

"According to the habits of China and Russia, I am afraid that this is really possible. ”

For a while, there was a lot of discussion in the conference room.

Treasury Secretary Timothy Geithner said in a deep voice: "Mr. President, we must stop the Chinese from moving! Otherwise, there will be big problems on the European side." ”

Although Europe is not as far away from the United States as it was in the Chirac and Schroeder eras, the relationship between the United States and Europe is still at a sensitive stage after the previous Dawn incident. If China and Russia let go of investment in the Golden Dragon battery project, not only Europe, but also Japan, South Korea and Australia, which are hardcore allies, will be shaken and turn to the arms of the Sino-Russian alliance.

In this way, the plan to contain China and Russia may immediately fail, and even the United States may be counter-contained.

Ao Guanhai shook his head and smiled bitterly: "Stop? How to stop it? Now I'm afraid that this news has spread all over the country." ”

Treasury Secretary Timothy Geithner was stunned and fell silent. (Do you want to know more exciting news about "Super Machine Qì People Clone"?Open WeChat now, click on the "+" sign in the upper right, select Add Friends to add the official account, search for "Qidianzhongwenwang", follow the official account, and never miss every update!) (To be continued......)