Chapter 229: The petrodollar system collapses

On February 20, the global economic crisis was breaking out, and only Huaxia sat firmly in the Diaoyutai.

Led by geothermal energy, electric vehicles, artificial intelligence and other industries, China's economy has not only not been impacted, but has continued to grow.

The Chinese government sees the rest of the world mired in economic crisis, especially the United States, and now is the weakest time.

Huaxia seized this opportunity, and he dealt a fatal blow to the United States.

The Huaxia government has publicly announced that Huaxia will implement a new monetary policy from now on.

China's GDP output value and national property will be denominated in US dollars, and materials traded with other countries will also be denominated in US dollars in the future, and the Chinese dollar will be used.

Huaxia trades with other countries in the form of local currency swaps, and the Chinese dollar and the official currency of the host country become the only transaction currency recognized by both parties.

Huaxia's technical cooperation with countries that have reached local currency swaps can assist them in establishing geothermal energy bases.

This is a blow to the United States, and the bull's-eye of the blow is the petrodollar system, the core interest of the United States.

Russia was the first to respond, reaching a local currency swap agreement with Huaxia, and the two sides originally used their own currencies to trade with each other, but this time it was just an official announcement.

For Russia, cheap electricity is everything, electricity is more important than oil, it is the cornerstone of modern industry.

Cheap electricity has a strong effect, and people can use electricity for heating, cooking, and maintaining normal production and life.

Electricity is also closely related to food, not only can it convert raw materials into fertilizers and medicines, and increase crop yields.

With modern means, it is also possible to speed up the production of food through energy, as in chicken farms with long-term sunlight.

All the resources that Russia needs can be obtained from China, and in addition to its rich oil reserves, Russia is also very rich in other mineral deposits, and it can also live well by selling raw materials.

The United Kingdom, an ally of the United States, soon reversed and reached a local currency swap agreement with Huaxia.

The economic crisis in Europe and the United States continues to erupt, and they urgently need to find new economic growth points.

China's huge market and advanced technology can become a new economic growth point for their country and help them get out of the economic crisis.

With the reversal of the United Kingdom, France, Italy and other countries have reached currency swap agreements with Huaxia.

Only Germany, which was garrisoned by the United States, looked at other countries with envy, but did not dare to speak at all.

The island nation of Dongying is also very envious, they are a resource-poor country, and if there is a geothermal energy base, there is no need to build a huge nuclear power plant in the earthquake zone.

In particular, the geothermal energy base has the effect of dredging the pressure of the mantle layer and reducing earthquakes.

The island country Dongying was very excited, but they had no choice, thinking of the finance minister who had worked hard for the free trade zone a few years ago, and suddenly committed suicide due to depression.

These politicians in the island nation of Dongying have long since lost their backbone, they cannot stand up to oppose the orders of the United States, they can only pretend to be ostriches silently.

The United States has seen that its allies are constantly rebelling, and they are all ready to introduce advanced Chinese technology to survive the economic crisis.

Oil has no effect on China, and they import other resources only in the currencies of both countries.

The world's second largest economy, excluding the financial bubble and counting the industrial output value, Huaxia is the world's largest economy worthy of the name.

The world's largest economy got rid of trading in dollars, which had a huge impact on the petrodollar system, which almost collapsed.

The American financial capitalists have to chew their teeth with hatred, and the Federal Reserve is their private institution.

The printed green ticket can set the price of any commodity, and they can obtain huge profits through financial means such as futures by pricing the commodity.

An item is worth $10, and if they think it is worth $100, it is worth $100, of which $90 is the profit of the capitalists.

An object is worth $100, and if they think it is worth $10, then it is worth $10, and if they buy it, $90 of which is the profit of the capitalists.

It is through this means that the US financial capitalists carry out repeated operations to loot the interests of other countries.

Another benefit of petrodollars is that they print their own worthless green paper in exchange for real resources from other countries.

In the event of an economic crisis in the United States, it only needs to print a large number of dollars to pass on the consequences of the economic crisis to all countries in the world.

Other innocent people have suffered the consequences of the American capitalists.

China's reform and opening up is actually a part-time job for the United States, which obtains the vast majority of the profits generated by China's industry through multinational corporations and manipulation of commodity prices.

This is also the driving force behind Huaxia's desperate development of technology and continuous industrial upgrading.

Other countries were able to follow China so quickly, and they also suffered from the petrodollar system.

They waited for a powerful country to rebel against the petrodollar, and they swarmed up.

Other countries that want to challenge the petrodollar will be killed by the United States with all its might.

Silly Damu gave up petrodollars, sold oil in euros, and was directly sent to the countryside by American soldiers to send democracy.

Cardazo wants to set up a Bank of Africa, let Africa give up the dollar and franc, and directly let the United States and France die.

The debt of the United States is 120% of his GDP, which means that the growth of the American economy is not even worth the interest.

The United States has the ability to borrow so much debt, because the dollar is the global currency, and the United States can print worthless green paper and transfer the debt to other countries.

Once the petrodollar collapses, the huge debt can overwhelm the United States.

The capitalists of the United States will not give up their interests either, they also have more than 10 aircraft carrier battle groups in their hands, and they have the largest navy and air force in the world.

Huaxia seems to have already guessed the reaction of the United States, and they held their first intelligent military exercise in the South China Sea.

Intelligent robots operate fighter jets, bombers, warships, and submarines.

They cooperate tacitly, are not afraid of life and death, and use the same way of playing when they find an opportunity, all for the victory of the war.

When the American capitalists saw this scene, they immediately took it to heart.

Flesh and blood cannot defeat robots, intelligent robots can die with the enemy without fear of casualties.

The loss of one American GI will cause an uproar.

The staff officers carefully analyzed the capabilities of the robots and decided that conventional wars could not be won.

Nuclear war is not feasible, and no one is brain-dead enough to destroy all mankind for some small profit.

The U.S. government has no choice but to find another way, and they use subversion, rumors, and intimidation against their allies, and their allies use procrastination.

But the United States has not been able to solve China, and the petrodollar system is inevitably heading for collapse.

Countries around the world trade in their own currencies of buyers and sellers, and no longer trade with their own resources in exchange for dollars.

In this way, the United States will not be able to control the price of commodities in the world.

The exchange of resources between countries is smoother, and they can set a floating price on these goods according to their needs.

The Federal Reserve printed a huge amount of dollars that could not be circulated in the world, causing huge inflation in the United States.

The capitalists do not let their interests suffer, and when the petrodollar system works perfectly, the profits are distributed by the capitalists.

When the petrodollar collapsed, the consequences were thrown to the people at the bottom through various means.

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