美元要变废纸？美联储深夜官宣印钞救市，但打败它的不是人民币

Group 1 - The Federal Reserve is signaling a shift from a hawkish to a dovish stance, indicating that the asset reduction process is nearing its end and may soon resume quantitative easing [1][3] - Since the onset of super inflation in the U.S., the Federal Reserve has implemented quantitative tightening, reducing assets by a total of $6 trillion [3] - Concerns are rising that the current liquidity in the banking system is approaching a "safe bottom," and without further monetary injection, a sell-off on Wall Street could trigger a systemic financial crisis [3] Group 2 - The Federal Reserve's actions are seen as a desperate measure to maintain financial stability, but this could undermine the credibility of the U.S. dollar [5] - Following Powell's speech, the Dow Jones index managed to close slightly positive, while the S&P 500 and Nasdaq still ended lower, indicating ongoing market volatility [5] - Major investors, including figures like Soros, are reportedly selling off dollar-denominated assets and accumulating gold as a hedge against potential risks [7] Group 3 - The market's primary concern is not a lack of liquidity but rather the declining purchasing power and credibility of the U.S. dollar, with even U.S. Treasury bonds losing their status as a safe investment [8] - The offshore RMB exchange rate surged after the opening of the Chinese market on October 15, reflecting a global shift towards RMB assets to hedge against dollar depreciation [8] Group 4 - The goal of RMB internationalization is not to replace the dollar as a new hegemon but to challenge the dominance of a single currency and establish fairer international monetary rules [10] - Despite a significant drop in exports to the U.S., China's overall export scale remains high, indicating the ineffectiveness of the trade war initiated by the U.S. [10] Group 5 - China has gained international pricing power over iron ore, undermining the dollar's pricing system, and even U.S. soybean farmers are seeking to settle trades in RMB [12] - The U.S. has resorted to gradual sanctions against Chinese companies, fearing a strong retaliation from China, which is strategically building its own global trade settlement system [14] Group 6 - The Federal Reserve's late-night money printing is a reflection of the decline of dollar hegemony, while China's aim is not to defeat the dollar but to disrupt the old order of U.S.-dominated rule-making [16] - As the RMB establishes fairer rules in trade, technology, and transportation, it could emerge as a new trusted global currency without needing to directly replace the dollar [16]