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There is no currency war only a wealth war

{}Posted in2023/2/26 12:29:23 | 6Browse

The essence of a Forex rebate for Exness war is a wealth war First, forexrebates any country, the annual addition of currency is only three percent of national income Second, the vast majority of ForexrebateforExness around the forexcashrebate have their own currency therefore, dollarization is extremely limited Third, as long as monetary sovereignty exists, the United States cashbackforexexness not unilaterally engage in a worldwide currency The United States can not unilaterally engage in worldwide dollarization Fourth, countries around the world have never engaged in foreign exchange reserves U.S. assetization (purchase of various U.S. assets) No country is stupid enough to dollarize all of its foreign exchange reserves China has not put all of its foreign exchange reserves on the dollar Fifth, China can completely let the yuan freely convertible, to a little worldwide yuanization So, the Chinese government can also be in the world However, the additional revenue that the Chinese government would receive from this would depend on the ratio of the RMB cashback forex rate to the inflation rate of the major hard currencies around the world If the RMB inflation rate were higher, the world would hold very little RMB based on this, and the Chinese government would not receive much The minting tax or inflation tax on the yuan Sixth, the world holds part of the dollar or the world-wide part of the dollar is a reflection of the strong and long-term strength of the U.S. economy Seventh, countries are engaged in more than twenty percent of inflation per year, the world will return to the gold (silver) standard at this time, currency wars are even more impossible to talk about Eighth, we might as well put the currency war between countries The state of currency wars or currency competition between countries can be replicated in the state of each person can issue their own currency (which is Hayeks great idea of denationalization of money) and then think about it Ninth, if the definition of money as M3, M4 and M5, money contains all currency, time deposits, stock futures, real estate, material capital, human capital, natural resources, etc. In this way, currency wars are actually It is a war of economic power Author: Zou Hengfu World Bank Senior Economist for Life