This is evidence that the United States has taken advantage of the dollar’s world currency status to reap other countries. The Federal Reserve continues to issue more currency. Within a year of last year, the Fed’s balance sheet rose from 4.2 trillion to 7.4 trillion, an increase of 76%. This year, Biden has produced 1.9 trillion when it comes up, and plans to launch 30,000 in the future. Billion economic stimulus plan. Such a large-scale printing of money has caused global commodity and food prices to rise sharply across the board. Whether it is US stocks, crude oil, copper, aluminum, nickel, agricultural products, and food prices, the increase has almost doubled. For countries that rely heavily on imports, the price of bulk commodities has more than doubled, which is equivalent to the depreciation of the US dollar by half. The foreign exchange reserves of these countries were not large. Now that commodities have more than doubled, the foreign exchange reserves will not be enough, and the prices of domestic commodities will also skyrocket. The external price has doubled, and the domestic price may rise several times, or even more, because they have no foreign exchange reserves available. This will lead to hyperinflation, so we must passively raise interest rates to curb inflation. During this period, all countries put the protection of the economy first, and it is impossible to raise interest rates without a last resort. This is the inevitable result of over-issuance of the US dollar and diluting the value of foreign exchange reserves in other countries. It is also the normal operation of the United States to harvest the world and let the world pay for it together. The United States can alleviate the economic pressure by constantly over-issuing currency, but for other countries it is a double blow. On the one hand, it has to deal with the pressure of the domestic economic downturn, and on the other hand, it also needs to deal with imported inflation from the US over-issued currency. pressure. At present, China is also facing the pressure of domestic economic recovery and imported inflation, but China’s developed manufacturing industry can also offset some of the pressure through the domestic market and foreign trade. Even so, since the second half of last year, everyone can clearly feel the cost pressure caused by rising raw materials, but the demand side has not improved significantly. This year, the domestic business environment is really difficult. The current global economy is not simply big inflation, in fact it is stagflation. Stagflation is the phenomenon that commodity prices continue to rise, accompanied by the economic downturn, the unemployment rate is soaring, and wage income is not rising at all, and it is even continuing to decline.