人民幣 無法 取代 美元 、歐元 國際 地位 主持人 ：石頭 嘉賓 ：黃 峻 (1) Renminbi|cannot|replace|US dollar|Euro|international|status|host|Shitou|guest|Huang|Jun Der RMB kann den internationalen Status des US-Dollars und des Euro nicht ersetzen. Moderator: Shitou Gast: Huang Jun (1) 人民币无法取代美元、欧元国际地位主持人：石头嘉宾：黄峻(1) The renminbi cannot replace the international status of the US dollar and the euro. Host: Shitou Guest: Huang Jun (1)

你好 歡迎 來到 財經 觀察站 我 是 主持人 石頭 Hello|welcome|to|finance|observation station|I|am|host|Shitou Hello, welcome to the Financial Observation Station. I am your host, Shitou.

今天 同 石頭 拍檔 的 是 海內外 的 著名 經濟 專家 黃 峻 先生 Today|with|Stone|partner|possessive particle|is|domestic and international|possessive particle|famous|economic|expert|Huang|Jun|Mr Today, my partner Shitou is joined by the renowned economic expert Mr. Huang Jun from both domestic and international backgrounds.

黃先生 你好 Mr Wong|hello Hello, Mr. Huang.

是的 石頭 哥 你好 各位 聽眾 大家 yes|stone|brother|hello|everyone|audience|all Yes, Shitou, hello to you and all the listeners.

好 現在 隨著 烏克蘭 的 戰況 越來越 深入 good|now|with|Ukraine|possessive particle|war situation|increasingly|deepening Well, now as the situation in Ukraine deepens.

全球 經濟制裁 俄羅斯 就 越來越 犀利 global|economic sanctions|Russia|then|increasingly|severe Global economic sanctions against Russia are becoming increasingly severe.

俄羅斯 當然 要 找 盟友 啦 Russia|of course|needs|to find|allies|particle indicating affirmation Russia certainly needs to find allies.

唯一 有 兩個 盟友 一個 是 中國 一個 是 印度 only|have|two|allies|one|is|China|one|is|India The only two allies are China and India.

似乎 都 在 運作 之中 seems|all|in|operation|within It seems that both are in the process of working together.

現在 我們 看到 俄羅斯 尤其 在 烏克蘭 的 戰場 上 失利 得 相當 嚴重 now|we|see|Russia|especially|in|Ukraine|possessive particle|battlefield|on|defeat|particle indicating degree|quite|serious Now we see that Russia, especially on the battlefield in Ukraine, has suffered quite serious defeats.

現在 國際 社會 對 俄羅斯 的 制裁 也 有 不同 的 看法 now|international|society|towards|Russia|possessive particle|sanctions|also|have|different|possessive particle|views Currently, the international community has different views on the sanctions against Russia.

北京 似乎 也 想 在 中間 可能 找到 一些 突破口 不 知道 是不是 Beijing|seems|also|wants|in|the middle|possibly|to find|some|breakthrough points|not|know|whether or not Beijing also seems to want to find some breakthroughs in the middle, but we don't know if that's the case.

上星期 我們 講了 一個 這樣 的 情況 last week|we|talked about|one|such|possessive particle|situation Last week, we talked about such a situation.

這個 星期 我們 想 從 美元 歐元 支配 地位 的 問題 開始 this|week|we|want|from|US dollar|Euro|dominance|status|possessive particle|question|start This week, we want to start with the issue of the dominance of the US dollar and the euro.

講 一下 這次 制裁 俄羅斯 踢出 了 SWIFT talk|a little|this time|sanctions|Russia|kicked out|past tense marker|SWIFT Talk about this time's sanctions against Russia being kicked out of SWIFT.

究竟 美元 歐元 在 全球 的 支配 地位 是 什麼 exactly|US dollar|Euro|in|global|possessive particle|dominant|status|is|what What is the global dominance of the US dollar and the euro?

其實 這個 是 非常 好 的 問題 actually|this|is|very|good|possessive particle|question Actually, this is a very good question.

現在 我們 回來 看 現在 的 情況 now|we|come back|see|current|possessive particle|situation Now let's return to look at the current situation.

首先 我們 看一看 烏克蘭 的 危機 first|we|take a look at|Ukraine|possessive particle|crisis First, let's take a look at the crisis in Ukraine.

事實上 西方 對 俄羅斯 比 以前 對 伊朗 還要 嚴格 的 這樣 的 經濟制裁 in fact|the West|towards|Russia|than|before|towards|Iran|even more|strict|(possessive particle)|such|(possessive particle)|economic sanctions In fact, the West is imposing stricter economic sanctions on Russia than it did on Iran in the past.

基本上 他們 除了 出售 石油 天然氣 、能源 食物 basically|they|except|selling|oil|natural gas|energy|food Basically, apart from selling oil, natural gas, and energy food,

這 兩 方面 基本上 整個 西方 的 金融體系 是 與 它 完全 切割 了 的 this|two|aspects|basically|entire|Western|possessive particle|financial system|is|with|it|completely|cut off|past tense marker|possessive particle the entire Western financial system is essentially completely cut off from it.

這次 同 伊朗 不同 的 原因 this time|with|Iran|different|possessive particle|reason The reason for this is different from that of Iran.

因為 包括 了 一些 企業 的 自發性 because|includes|past tense marker|some|enterprises|possessive particle|spontaneity Because it includes some companies' voluntary actions.

例如 高盛 銀行 德國 德意志銀行 for example|Goldman Sachs|bank|Germany|Deutsche Bank For example, Goldman Sachs, Deutsche Bank.

這些 制裁 客觀 地 說 有人 講 中共 特別 跳出 來講 these|sanctions|objectively|adverbial particle|speaking|someone|said|CCP (Chinese Communist Party)|especially|jumping out|to speak These sanctions, objectively speaking, some people say the CCP has particularly jumped out to speak.

違反 市場 資本主義 的 一向 的 鐵規 violate|market|capitalism|possessive particle|always|possessive particle|iron rule It violates the long-standing iron rules of market capitalism.

你 不 可以 去 沒收 凍結 他人 財產 you|not|can|go|confiscate|freeze|others|property You cannot confiscate or freeze someone else's property.

這次 連 瑞士 都 跳 出來 this time|even|Switzerland|all|jumped|out This time, even Switzerland has jumped out.

認為 制裁 會 動搖 現行 金融體系 信用 believe|sanctions|will|undermine|current|financial system|credit It is believed that sanctions will shake the credibility of the current financial system.

實際上 看回 這個 東西 actually|looking back at|this|thing In fact, looking back at this matter.

為 什麼 可以 這樣 制裁 是不是 可以 影響 why|what|can|like this|sanctions|isn't it|can|affect Why can such sanctions be imposed? Can they have an impact?

最近 歐盟 和 美國 可以 聯合 在 一起 制裁 俄羅斯 recently|European Union|and|United States|can|unite|in|together|sanction|Russia Recently, the EU and the US have been able to unite to sanction Russia.

最 主要 的 原因 是 美元 和 歐元 的 國際 地位 是 不可 分 most|important|possessive particle|reason|is|US dollar|and|Euro|possessive particle|international|status|is|not|separable The main reason is that the international status of the US dollar and the euro is inseparable.

功能 相對 來講 我們 難聽 一些 是 霸權 地位 function|relatively|speaking|we|hard to hear|somewhat|is|hegemonic|status Functionally speaking, we are somewhat unpleasantly in a hegemonic position.

好聽 一些 叫 支配 性 的 地位 pleasant to hear|a little|called|dominant|sexual|possessive particle|status More pleasantly, it is called a dominant position.

首先 我們 說一說 貨幣 近來 有 很多 人 first|we|talk about|currency|recently|has|many|people First, let's talk about currency; recently, many people have been discussing it.

例如 比特 幣 這些 加密 貨幣 for example|Bitcoin|currency|these|cryptocurrency|currencies For example, cryptocurrencies like Bitcoin.

順便 先講 一講 貨幣 這個 問題 by the way|let's talk about it first|briefly|currency|this|question By the way, let's first discuss the issue of currency.

好 呀 good|particle indicating affirmation or realization Okay.

貨幣 英文 叫做 Currency不是 Money currency|English|is called||money The English word for currency is called Currency, not Money.

Money 是 我們 的 通俗 講法 Money|is|we|possessive particle|colloquial|way of speaking Money is our colloquial term.

真正 學名 叫做 Currency true|scientific name|called|Currency The proper academic term is called Currency.

這是 來自 拉丁文 最早 是 來源於 希臘文 this is|from|Latin|earliest|was|originated from|Greek This comes from Latin, which originally derived from Greek.

在 希臘文 中 貨幣 真正 的 意思 是 流動 的 契約 in|Greek|in|currency|true|possessive particle|meaning|is|liquid|possessive particle|contract In Greek, the true meaning of currency is a flowing contract.

流動 的 契約 mobile|possessive particle|contract A flowing contract.

嚴格來說 這是 契約 所以 你 見到 美金 上面 是 一個 note strictly speaking|this is|contract|so|you|see|US dollars|on it|is|a|note Strictly speaking, this is a contract, so you see that there is a note on the US dollar.

是 一個 契約 來 的 is|a|contract|come|past action particle It is a contract.

很多 人 解釋 什麼 叫做 錢 many|people|explain|what|is called|money Many people explain what money is.

商品 以前 最 流行 馬克思 解釋 貨幣 是 商品 In the past, the most popular explanation of money by Marx was that it is a commodity.

嚴格來說 它 不是 叫做 商品 它 叫 契約 strictly speaking|it|is not|called|product|it|called|contract Strictly speaking, it is not called a commodity; it is called a contract.

是 履行 一個 權利義務 is|fulfilling|a|right and obligation It is the fulfillment of a right and obligation.

在 有 貨幣 之前 其實 是 以物 換物 before|had|currency|before|actually|was|by goods|exchanging goods Before there was money, it was actually bartering.

是 一個 物品 其實 都 是 一個 契約 is|a|item|actually|also|is|a|contract A commodity is actually also a contract.

例如 我 給 你 一個 黃金 for example|I|give|you|one|gold For example, I give you a piece of gold.

我 也 都 要 證明 我給 你 這個 黃金 的 純度 是 足夠 的 I also need to prove that the purity of this gold I give you is sufficient.

過去 不是 發行 黃金 是 金幣 past|not|issuing|gold|is|coin In the past, gold was not issued as gold bars.

金幣 也 都 要 有 鑄幣 權的 這是 一個 契約 gold coin|also|all|must|have|minting|right|this is|a|contract Gold coins also need to have the minting rights; this is a contract.

是 一種 權利義務 精神 是 一個 提供方 is|a kind of|rights and obligations|spirit|is|a|provider It is a spirit of rights and obligations; it is a provider.

是 一種 信任 的 履行 的 契約 is|a type of|trust|possessive particle|fulfillment|possessive particle|contract It is a contract of trust fulfillment.

貨幣 發行 在 現代 有 兩 種 主要 的 發行 方式 currency|issuance|in|modern|has|two|types|main|possessive particle|issuance|methods There are two main ways of currency issuance in modern times.

一種 是 國家主權 像 美金 a kind of|is|national sovereignty|like|US dollar One is national sovereignty, like the US dollar.

另 一 種 就是 我們 講的 履行 契約 的 機構 another|one|kind|is|we|talking about|fulfilling|contract|possessive particle|organization The other is the institutions that we refer to as fulfilling contracts.

有 一些 銀行 和 金融機構 也 都 發行 貨幣 there is|some|banks|and|financial institutions|also|all|issue|currency Some banks and financial institutions also issue currency.

例如 早期 我們 見到 的 某某 行 的 票 都 是 的 for example|early|we|saw|possessive particle|certain|line|possessive particle|ticket|all|are|possessive particle For example, in the early days, the tickets we saw from certain industries were like this.

以前 在 民國 或者 清朝 in the past|during|Republic of China|or|Qing Dynasty In the past, during the Republic of China or the Qing Dynasty.

有 一些 在 中國 的 外資銀行 發行 金圓券 there is|some|in|China|possessive particle|foreign banks|issue|gold yuan notes There were some foreign banks in China that issued gold yuan notes.

發行 銀元 整個 銀元 issue|silver dollar|whole|silver dollar Issuing silver dollars, the whole silver dollar.

以前 經常 說 銀元 銀元 in the past|often|said|silver dollar|silver dollar In the past, people often talked about silver dollars.

有些 元 大頭 之外 還有 英元 some|yuan|big head|besides|also have|pound In addition to some major currencies, there are also British pounds.

英元 就是 以前 墨西哥 銀行 US dollar|is|previously|Mexico|bank The British pound refers to the currency previously issued by the Bank of Mexico.

包括 美國銀行 發行 的 英元 銀幣 including|Bank of America|issued|possessive particle|US dollar|coins This includes the British pound coins issued by American banks.

這個 是 作為 一個 我 有 能力 履行 這些 契約 的 機構 發行 的 this|is|as|a|I|have|ability|fulfill|these|contracts|possessive particle|organization|issued|possessive particle This is issued by an institution that has the ability to fulfill these contracts.

兩種 是 主要 的 再 加上 美聯儲 two types|are|main|possessive particle|again|plus|Federal Reserve The two main types are in addition to the Federal Reserve.

嚴格 地 說 美聯儲 不是 完全 由 國家 控制 strictly|adverbial particle|speaking|Federal Reserve|is not|completely|by|government|controlled Strictly speaking, the Federal Reserve is not completely controlled by the government.

它 是 由 公 私 合營 的 這個 不 重要 it|is|by|public|private|joint venture|possessive particle|this|not|important It is a public-private partnership, which is not important.

最 關鍵 的 一樣 東西 是 現在 比較 流行 的 most|critical|possessive particle|one|thing|is|now|relatively|popular|particle indicating adjective The most critical thing is what is currently more popular.

這 十年 八年 比較 流行 的 數字 貨幣 是 怎麼回事 this|ten years|eight years|relatively|popular|possessive particle|digital|currency|is|what is going on What is the situation with digital currency that has been more popular in the past eight to ten years?

另外 一個 問題 就是 要 講清楚 的 就是 貨幣 發行 必須 有 一個 主體 another|one|question|is|must|be clear|particle|is|currency|issuance|must|have|one|entity Another point that needs to be clarified is that currency issuance must have a主体.

這個 主體 可能 是 國家 機構 或者 是 履行 契約 的 機構 才 可以 發行 的 this|entity|may|is|national|institution|or|is|fulfilling|contract|possessive particle|institution|only|can|issue|possessive particle This entity can only be issued by a national institution or an institution that fulfills contracts.

現在 問題 就是 很 奇怪 虛擬 貨幣 now|question|is just|very|strange|virtual|currency The current problem is that virtual currency is very strange.

尤其 是 虛擬 貨幣 為 什麼 和 我們 息息相關 呢 especially|is|virtual|currency|for|what|and|we|closely related|question particle Especially, why is virtual currency so closely related to us?

全球 來說 尤其 是 加州 灣區 以 聖 河西 為 標準 worldwide|in terms of|especially|is|California|Bay Area|taking|San|Jose|as|standard Globally, especially in the Bay Area of California, taking San Jose as the standard.

50miles 這個 圈 基本 是 全球 發行 最 多 50 miles|this|circle|basically|is|global|issuance|most|many This 50-mile circle is basically where the most global issuance occurs.

不知 你 知不知道 有時 我 和 他們 談到 not know|you|know or not|sometimes|I|and|they|talk about I don't know if you know that sometimes I talk to them.

叫做 內行話 aircoin 空氣 幣 called|insider jargon|aircoin|air|currency It's called insider jargon aircoin.

首先 我們 講 貨幣 這些 的 功能 first|we|talk about|currency|these|possessive particle|functions First, we talk about the functions of currency.

究竟 有 哪些 功能 第一個 是 交易 的 媒介 exactly|have|what|functions|first|is|transaction|possessive particle|medium What functions are there? The first is a medium of exchange.

第二個 記帳 單位 第三 是 儲存 價值 第四 叫 延期 支付 second|accounting|unit|third|is|storing|value|fourth|called|deferred|payment The second is a unit of account, the third is a store of value, and the fourth is called deferred payment.

這 四個 功能 這些 基本 是 由 我們 所講 的 威廉 · 斯坦利 · 傑文斯 this|four|functions|these|basically|are|by|us|spoken|possessive particle|William|Stanley|Jevons These four functions are basically defined by what we discussed about William Stanley Jevons.

在 《貨幣 交換》 這本 書 裏 定議 的 in|||this|book|inside|defined|past tense marker In his book 'The Theory of Political Economy'.

這是 一個 什麼 人 呢 this is|a|what|person|question particle Who is this person?

他 是 一個 英國 最 著名 的 經濟學家 邏輯學家 He|is|a|British|most|famous|possessive particle|economist|logician He is one of the most famous economists and logicians in Britain.

他 和 奧地利 的 卡爾 · 門格爾 瑞士 的 利昂 · 瓦爾拉 斯 he|and|Austria|possessive particle|Karl|Menger|Switzerland|possessive particle|Leon|Walras|S He is associated with Austrian economist Carl Menger and Swiss economist Léon Walras.

共同 創造 了 經濟學 的 思想 他們 兩位 是 劃時代 性 的 jointly|created|past tense marker|economics|possessive particle|thought|they|two individuals|are|groundbreaking|nature|possessive particle They jointly created the ideas of economics; the two of them are groundbreaking.

他們 在 1875年 已經 寫 了 這本 書 They|in|the year 1875|already|wrote|past tense marker|this|book They had already written this book in 1875.

這個 貨幣 功能 我 發覺 要 履行 這個 功能 要 有 一個 契約 主體 this|currency|function|I|realized|need|fulfill|this|function|need|have|a|contract|party I found that to fulfill the function of currency, there needs to be a contractual entity.

美金 發行 的 時候 有 一個 契約 主體 就是 美聯儲 US dollar|issuance|possessive particle|when|has|one|contract|party|is|Federal Reserve When the US dollar was issued, there was a contractual entity, which is the Federal Reserve.

現在 發覺 有 很多 發行 虛擬 貨幣 是 沒有 履行 主體 的 Now it is found that many issuers of virtual currencies do not have a fulfilling entity.

比特 幣 相對來說 好 一些 Bitcoin|currency|relatively|better|a little Bitcoin is relatively better.

為 什麼 呢 沒有 發 主體 就 沒有 人 管 這個 東西 why|thing|question particle|no|issue|subject|then|no|person|manage|this|thing Why is that? Without a central issuer, no one manages this thing.

誰 去 承擔 交易 的 記帳 功能 所以 我們 叫 挖礦 who|go|bear|transaction|possessive particle|accounting|function|so|we|call|mining Who takes on the accounting function of transactions? That's why we call it mining.

有 費用 給 你 have|cost|give|you There is a cost to give you.

所謂 挖礦 其實 是 記帳 功能 so-called|mining|actually|is|accounting|function So-called mining is actually the accounting function.

給了 你 以後 有 比特 幣 的 份額 gave|you|in the future|have|Bitcoin|currency|possessive particle|share Gave you a share of Bitcoin in the future.

它 沒有 履 貨幣 功能 但 有 一個 記帳 這個 東西 it|does not have|carry|currency|function|but|has|one|bookkeeping|this|thing It does not have the function of currency, but it has a bookkeeping aspect.

有 這個 義務 have|this|obligation There is this obligation.

但是 要 記住 貨幣 有 幾樣 義務 but|need to|remember|currency|has|several|obligations But remember that currency has several obligations.

有 兌現 ..... there is|cash redemption There is redemption.....

你 拿 一張 美金 你 的 美元 是不是 可以 買 相應 的 商品 呢 you|take|one|US dollar|your|possessive particle|US dollar|is it|can|buy|corresponding|possessive particle|goods|question particle If you take a dollar bill, can your US dollars buy the corresponding goods?

如果 買不到 發行方 就要 有 一個 履行義務 的 主體 if|cannot buy|issuer|then must|have|a|obligation|possessive particle|subject If you can't buy from the issuer, there needs to be a party that fulfills the obligation.

是 補償 的 意思 is|compensation|possessive particle|meaning It means compensation.

沒有 錯 如果 沒有 這個 保證 的 履行 單位 的話 not|wrong|if|not|this|guarantee|possessive particle|fulfillment|unit|if That's correct, if there is no guaranteed fulfilling entity.

他 只 發行 貨幣 嚴格來說 是 濫發 貨幣 he|only|issues|currency|strictly speaking|is|excessive issuance|currency They only issue currency, strictly speaking, it is excessive issuance of currency.

不是 說 去 中心化 not|say|go|centralization It's not about going decentralized.

那 时候 這些 東西 只不過 是 發行 貨幣 四大 功能 之中 的 交易 媒介 的 部份 that|time|these|things|only|are|issuing|currency|four major|functions|among|possessive particle|transaction|medium|possessive particle|part At that time, these things were merely part of the four major functions of currency issuance, specifically as a medium of exchange.

但是 你 沒有 一個 叫做 儲存 價值 和 延期 支付 but|you|do not have|a|called|saving|value|and|deferred|payment However, you did not have something called a store of value and deferred payment.

而 這些 的 功能 最 關鍵 是 有 一個 履行義務 的 主體 and|these|possessive particle|functions|most|critical|is|has|one|fulfilling obligations|possessive particle|subject And the most critical aspect of these functions is having a subject that fulfills obligations.

例如 人民幣 中國 央行 發出 來 的 for example|Renminbi|China|central bank|issued|coming|possessive particle For example, the Renminbi issued by the People's Bank of China.

這些 人民幣 拿到 市場 上 買 商品 的 時候 these|RMB|taken to|market|on|buy|goods|possessive particle|time When these Renminbi are taken to the market to buy goods,

別人 不 接受 你 就 會 拿 去 人民銀行 others|not|accept|you|then|will|take|to|People's Bank if others do not accept them, you will take them to the People's Bank.

說 這種 貨幣 他們 不 接受 say|this kind of|currency|they|not|accept You will say that this kind of currency is not accepted by them.

人民銀行 有 一個 貨幣 法 People's Bank|has|a|currency|law The People's Bank has a currency law.

你 不 能夠 不 收 這些 人民幣 的 you|not|able to|not|accept|these|RMB|particle indicating possession or modification You cannot refuse to accept these Renminbi.

當 收 人民幣 有 問題 的 時候 when|receiving|Renminbi|has|problem|possessive particle|time When there is a problem with receiving Renminbi.

你 可以 找 央行 這是 違法 的 不能 拒收 you|can|find|central bank|this is|illegal|possessive particle|cannot|refuse to accept You can go to the central bank; it is illegal to refuse.

所以 有 的 時候 我 去 美國 買 東西 拿 100美元 出來 買 東西 so|there is|possessive particle|time|I|go|America|buy|things|take|100 dollars|out|buy|things So sometimes when I go to the United States to buy things, I take out 100 US dollars to make a purchase.

他 說 不 可以 用 的話 我 即刻 就 指控 他 he|said|not|can|use|if|I|immediately|then|accuse|him If they say it cannot be used, I immediately accuse them.

你夠 膽不收 美元 請 你 和 美聯儲 慢慢 談 you have enough|courage to not accept|US dollars|please|you|and|Federal Reserve|slowly|talk If you have the guts not to accept US dollars, please discuss it slowly with the Federal Reserve.

為什麼 不能 拒收 貨幣 現金 這個 問題 why|cannot|refuse to accept|currency|cash|this|question Why can't we refuse to accept currency cash?

這 有 一個 履行 主體 有 一個 國家 政權 去 履行 和 背書 this|has|one|fulfillment|subject|has|one|state|regime|to|fulfill|and|endorse There is a subject that fulfills this, which is a national regime that carries out and endorses it.

如果 發行 的 時候 它 沒有 背書 的話 ⋯⋯ if|issue|possessive particle|time|it|does not have|endorsement|conditional particle If it is not endorsed at the time of issuance...

應該 說 發行 貨幣 它 有 很多 好處 should|say|issuing|currency|it|has|many|benefits It should be said that issuing currency has many benefits.

嚴格來說 為 什麼 你 會 使用 美金 strictly speaking|for|what|you|will|use|US dollars Strictly speaking, why would you use US dollars?

因為 你 相信 美國政府 去 履行 義務 because|you|believe|US government|to|fulfill|obligations Because you believe the U.S. government will fulfill its obligations.

為 什麼 你 不 去 用 一些 why|what|you|not|go|use|some Why don't you use some?

例如 我們 講的 岡比亞 扎伊爾 這類 的 貨幣 for example|we|speaking|Gambia|Zaire|this type of|possessive particle|currency For example, the currencies like Gambia and Zaire that we talked about.

在 自己 的 銀行 戶口 裏 存 一些 這樣 的 古靈精怪 in|own|possessive particle|bank|account|inside|deposit|some|such|possessive particle|quirky things Store some of these quirky currencies in your own bank account.

委內瑞拉 那些 Venezuela|those Like those from Venezuela.

或者 你 可能 沒有 見到 過 我 見 過 用過 maybe|you|possibly|not|seen|past tense marker|I|see|past tense marker|used Or you might not have seen me before.

就是 緬甸 幣 緬甸 幣上 是 沒有 號碼 的 that is|Myanmar|currency|Myanmar|on the currency|is|no|number|(possessive particle) It's just that the Myanmar currency has no numbers on it.

嘩 wow Wow.

沒有 號碼 的 最 要命 的 就是 我 當時 去 用 的 時候 no|number|possessive particle|most|deadly|particle indicating action|is|I|at that time|go|use|possessive particle|time The most critical issue with having no numbers is that when I went to use it at that time,

當地人 告訴 我 請 留意 下 這種 貨幣 沒有 號碼 的 local people|told|me|please|pay attention|to|this kind of|currency|no|number|particle the locals told me to be aware that this type of currency has no numbers.

這些 就是 濫 發行 任意 發行 these|are|excessive|issuance|arbitrary|issuance These are arbitrary issuances.

都 不知 發行 了 多少 這些 就是 沒有 信用 all|don't know|issued|past tense marker|how many|these|just|no|credit No one knows how much has been issued; these have no credibility.

100美金 可以 換 很多 緬甸 幣 100 US dollars|can|exchange|a lot of|Myanmar|currency 100 US dollars can be exchanged for a lot of Myanmar currency.

相當於 几十 萬 緬甸 幣 equivalent to|several tens|thousand|Myanmar|currency Equivalent to several hundred thousand Myanmar currency.

這些 就是 濫發 貨幣 履行 主體 越差 貨幣 越 不值錢 these|are|excessive issuance|currency|fulfillment|entity|the worse|currency|the more|worthless These are the consequences of excessive currency issuance; the worse the issuer, the less valuable the currency.

幣值 之間 例如 日圓 兌 美元 不是 那麼 回事 currency value|between|for example|Japanese yen|exchange|US dollar|is not|that|matter The exchange rate between currencies, for example, the Japanese yen against the US dollar, is not that simple.

保值 性 的 value preservation|nature|possessive particle It has a value preservation aspect.

作為 國家 沒有 國家 信用 as|country|has no|country|credit As a country, there is no national credit.

國家 信用 越 好 相對來說 就 會 越 好 country|credit|the more|good|relatively speaking|then|will|the more|good The better the national credit, the better it will be relatively.

所以 你 連 發行 方 是 誰 ..... so|you|even|release|person|is|who So you even need to know who the issuer is.....

發行 貨幣 沒有 什麼 成本 issue|currency|no|what|cost Issuing currency has no cost.

我們 講 美金 怎樣 發行 紙幣 都 有 個 成本 we|talk|US dollars|how|issuing|banknotes|all|have|a|cost When we talk about how the US dollar issues banknotes, there is a cost involved.

但是 你 說 連 紙 都 不用 印 的 完全 沒有 成本 but|you|said|even|paper|also|don't need to|print|(particle indicating past action)|completely|no|cost But you say that there is completely no cost, not even for printing paper.

所以 有時 你 说 這些 去 中心化 是不是 未來 趨勢 so|sometimes|you|say|these|going|centralization|is it|future|trend So sometimes you ask if these decentralized systems are the trend of the future.

我 覺得 關鍵 是 任何 的 這種 交易 流通 都 是 一個 履行 的 主題 I|think|key|is|any|possessive particle|this kind of|transaction|circulation|all|is|a|fulfillment|possessive particle|theme I think the key is that any kind of transaction and circulation is a matter of fulfillment.

很 明顯 今次 你 會 看到 very|obvious|this time|you|will|see It is very clear that you will see this time.

為什麼 歐元 和 美元 作為 一個 全球 的 支配 的 地位 的 原因 why|Euro|and|US Dollar|as|a|global|possessive particle|dominant|possessive particle|status|possessive particle|reason The reason why the Euro and the US dollar hold a dominant position globally.

就是 為 什麼 不是 盧布 呢 that's why|for|what|not|ruble|question particle Is why it is not the Ruble?

看看 俄羅斯 你夠 膽叫 他 承擔義務 take a look|Russia|you are enough|brave|he|take on responsibility Look at Russia, do you have the guts to make them take on obligations?

要啊 現在 他 要 盧布 yes I want|now|he|wants|rubles Now they need the Ruble.

這樣 都夠 膽死 國家 信用 就 體現 出來 like this|is enough|to scare to death|country|credit|then|to reflect|come out This is enough to scare the country's credit to be reflected.

重新 說 說 美元 的 霸權 地位 是 怎樣 來 的 again|say|say|US dollar|possessive particle|hegemony|status|is|how|come|past action particle Let's talk again about how the hegemony of the US dollar came about.

大家 都 聽過 一句 話 叫做 佈雷 頓 森林 貨幣 體系 （BrettonWoodssystem） everyone|all|has heard of|one|saying|called|Bretton|Woods|Forest|currency|system| Everyone has heard of a saying called the Bretton Woods system.

是 怎樣 來 的 是 1944年 二次大戰 is|how|come|past action particle|is|year 1944|World War II How it came about was in 1944 during World War II.

到 現在 已有 75年 了 當時 是 二次大戰 末期 until|now|has already|75 years|past tense marker|at that time|was|World War II|late period It has been 75 years since then, at that time it was the end of World War II.

德國 差不多 玩完 日本 也 節節敗退 Germany|almost|finished|Japan|also|retreating step by step Germany is almost finished, and Japan is also steadily retreating.

同時 英國 、法國 和 蘇聯 這些 主要 的 歐洲 國家 在 戰爭 中 受到 嚴重 破壞 at the same time|Britain|France|and|Soviet Union|these|major|possessive particle|European|countries|in|war|during|suffered|severe|destruction At the same time, the major European countries like the UK, France, and the Soviet Union suffered severe destruction during the war.

他們 的 經濟 很 差 they|possessive particle|economy|very|poor Their economies are in very poor condition.

1945年 美國 的 國民經濟 是 佔 了 整個 資本主義 國家 的 60% 1945|United States|possessive particle|national economy|is|accounted for|past tense marker|entire|capitalist|countries|possessive particle In 1945, the US national economy accounted for 60% of the entire capitalist countries.

差不多 佔 了 全球 的 60% almost|occupies|past tense marker|global|possessive particle It almost accounted for 60% of the global economy.

而且 美國 的 黃金 儲備 由 1938年 的 145.1億 美元 moreover|United States|possessive particle|gold|reserves|from|year 1938|possessive particle|1451 billion|US dollars Moreover, the United States' gold reserves increased from 14.51 billion dollars in 1938

增加 到 1945年 的 200億美元 increase|by|the year 1945|possessive particle|20 billion US dollars to 20 billion dollars in 1945

佔 全球 黃金 儲備 的 59% accounts for|global|gold|reserves|possessive particle accounting for 59% of the world's gold reserves.

因為 很多 人 把 戰爭 歐洲 戰爭 ..... because|many|people|(particle indicating action)|war|Europe|war This is because many people brought their gold to the United States due to the war in Europe.....

把 黃金 都 拉 到 去 美國 因為 放在 安全 些 的 地方 to take|gold|all|transport|to|go|America|because|placed in|safe|more|possessive particle|place as it was considered a safer place.

你 放在 俄羅斯 就 大鑊 了 you|put in|Russia|then|in big trouble|past tense marker If you put it in Russia, it would be a big problem.

當時 美國 的 黃金 儲備 是 佔 了 全世界 的 at that time|the United States|possessive particle|gold|reserves|was|accounted for|past tense marker|the whole world|possessive particle At that time, the gold reserves of the United States accounted for the whole world.

我們 所說 的 自由 世界 整個 歐洲 的 ¾ What we call the free world is three-quarters of all of Europe.

他 登上 了 自由 世界 經濟 盟主 的 地位 he|ascended|past tense marker|freedom|world|economic|leader|possessive particle|status He ascended to the position of the economic leader of the free world.

1944年 的 七月份 第二次世界大戰 還 沒有 勝利 1944|possessive particle|July|Second World War|still|not yet|victory In July 1944, World War II had not yet been won.

但 看 形勢 差不多 but|looking|situation|almost the same But the situation is more or less the same.

當時 有 44個 同盟國 at that time|had|44|Allied countries At that time, there were 44 allied countries.

在 美國 英國 主導 之下 在 美國 的 佈雷 頓 森林 村 in|America|Britain|under the leadership of|under|in|America|possessive particle|||Forest|village Under the leadership of the United States and the United Kingdom, a meeting was held in a small hotel in Bretton Woods.

是 一個 地方 的 名字 在 一個 小 的 旅館 內 召開 了 一個 is|a|place|possessive particle|name|in|a|small|possessive particle|hotel|inside|held|past tense marker|a Bretton Woods is the name of a place.

由 44個 國家 舉辦 的 叫做 聯合 和 聯盟 國家 國際金融 貨幣 金融 會議 hosted by|44|countries|held|(possessive particle)|called|United|and|Allied|nations|international finance|currency|financial|conference It was an international financial conference organized by 44 countries called the United Nations and Allied Nations Monetary and Financial Conference.

這 就是 我們 經常 講的 佈雷 頓 森林 體系 this|is|we|often|talk about|Braid|Dun|forest|system This is the Bretton Woods system that we often talk about.

就是 這從 這裏 來 的 that is|this from|here|come|past action particle This is where it came from.

確定 了 國際 貨幣 基金 協定 和 國際 復興 開發 銀行 協定 confirmed|past tense marker|international|currency|fund|agreement|and|international|reconstruction|development|bank|agreement It established the agreements of the International Monetary Fund and the International Bank for Reconstruction and Development.

俗稱 佈雷 頓 森林 體系 commonly known as|Burei|Dun|forest|system Commonly known as the Bretton Woods system.

從此以後 美元 的 霸權 地位 就 開始 了 from now on|US dollar|possessive particle|hegemony|status|then|began|past tense marker From then on, the hegemony of the US dollar began.

美元 在 佈雷 頓 森林 體系 協定 US dollar|in|Burey|Dun|Forest|system|agreement The US dollar is established in the Bretton Woods system.

也 叫做 佈雷 頓 森林 體系 內 奠定 了 它 的 國際 貨幣 地位 also|known as|Bretton|Woods|Forest|system|within|established|past tense marker|it|possessive particle|international|currency|status It is also called the Bretton Woods system, which laid the foundation for its international currency status.

有 這麼 多 優勢 給 美國 帶來 什麼 好處 呢 黃 先生 have|so|many|advantages|give|the United States|bring|what|benefits|question particle|Mr Wong|sir What benefits does this bring to the United States, Mr. Wong?

應該 講 美國 的 貨幣 和 軍事 在 之後 的 75年 能夠 雄霸 全球 should|talk|America|possessive particle|currency|and|military|in|after|possessive particle|75 years|able to|dominate|globally It should be noted that the US currency and military were able to dominate the world for the next 75 years.

也 是 和 佈雷 頓 森林 體系 有 關係 also|is|and|Braid|Dun|forest|system|have|relationship This is also related to the Bretton Woods system.

但 在 講 之前 我 先 講 一下 有 很多 人 都 不服 but|at|speaking|before|I|first|talk|briefly|there are|many|people|all|not convinced But before I talk, let me first mention that many people are not convinced.

特別 是 有 一些 國家 所謂 大國 崛起 經常 都 不服 especially|is|have|some|countries|so-called|great powers|rise|often|all|do not submit Especially, there are some so-called great powers that often do not accept it.

憑 什麼 你 這麼 囂張 relying on|what|you|so|arrogant What gives you the right to be so arrogant?

第 一樣 就是 首先 在 二次大戰 租借 法案 the|first|is|first|during|World War II|Lend-Lease|Act The first thing is, first of all, the Lend-Lease Act during World War II.

當時 很多 國家 英國 、法國 包括 當時 的 蘇聯 等 國家 at that time|many|countries|England|France|including|at that time|possessive particle|Soviet Union|etc|countries At that time, many countries, including the UK, France, and the Soviet Union, etc.

已經 被 德國 打到 散 了 already|by|Germany|beaten|scattered|past tense marker Already beaten to pieces by Germany.

如果 不是 美國 借錢 給 他們 不但 借錢 if|not|the United States|lend money|to|them|not only|borrow money If it weren't for the United States lending them money, not only money.

而且 還 借 糧食 武器 設備 甚至 出兵 出人 去 打 moreover|still|lend|food|weapons|equipment|even|send troops|send people|to|fight But also food, weapons, equipment, and even sending troops to fight.

直至 第二次 大戰 結束 消滅 了 法西斯 體系 until|second|world war|ended|elimination|past tense marker|fascist|system Until the end of World War II, which eliminated the fascist regime.

要不然 都 沒有 我們 這個 電台 otherwise|all|don't have|we|this|radio Otherwise, we wouldn't have this radio station.

可能 播 同一首歌 全球 一樣 的 歌 possibly|play|the same song|worldwide|same|possessive particle|song Maybe play the same song globally, the same song.

純屬 開玩笑 purely|joking Just kidding.

是 出錢出力 去 處理 這些 事情 is|contribute money and effort|to|handle|these|matters It is about spending money and effort to handle these matters.

當時 在經濟上 是 佔 全球 主要 地位 at that time|in terms of economy|was|occupied|global|major|position At that time, it held a major position in the global economy.

召開 這個 會議 自然 美元 是 全球 結算 的 核心 convene|this|meeting|naturally|US dollar|is|global|settlement|possessive particle|core Naturally, the dollar is the core of global settlement for holding this meeting.

核心 中 的 核心 The core of the core

比 現在 還 核心 得 多 than|now|even|core|particle indicating degree|more Much more core than now

真的 很 厲害 really|very|impressive Really impressive

有 什麼 好處 呢 實話實說 他 付出 了 這麼 多 have|what|benefits|question particle|to speak honestly|he|put in|past tense marker|so|much What are the benefits? To be honest, he has put in so much effort

肯定 會 拿回 一些 好處 definitely|will|get back|some|benefits He will definitely reap some benefits

這個 國際 貨幣 地位 給 美國 帶來 巨大 的 利益 this|international|currency|status|to|the United States|brings|huge|possessive particle|benefits This international monetary status brings huge benefits to the United States.

第一個 美國 可以 不 受限制 地 向 全球 舉債 the first|United States|can|not|restricted|adverbial particle|to|global|borrow money First, the United States can borrow globally without restrictions.

因為 以前 你們 向 我 借錢 借 我 的 設備 because|before|you (plural)|to|me|borrowed money|borrowed|me|possessive particle|equipment Because in the past, you borrowed money from me and borrowed my equipment.

例如 蘇聯 借 了 很多 ..... for example|Soviet Union|borrowed|past tense marker|a lot For example, the Soviet Union borrowed a lot.....

現在 的 坦克車 爛了 多少 不夠 now|possessive particle|tank|damaged|how many|not enough How many of the current tanks are worn out and insufficient?

那個 年代 更 厲害 that|era|even more|impressive That era was even more impressive.

輪船 也好 槍炮 也好 ship|or|cannon|or Whether it's ships or cannons.

美元 就 拿 回 好處 了 US dollar|then|take|back|benefit|past tense marker The US dollar just reaps the benefits.

以前 你 就 拿 了 好處 了 現在 我 就 不 受限制 向 全球 舉債 before|you|then|took|past tense marker|advantage|past tense marker|now|I|then|not|restricted|towards|global|borrowing In the past, you reaped the benefits, now I am not restricted in borrowing globally.

這個 債務 當然 償還債務 是 對 等 或者 乾脆 不用 負責 this|debt|of course|repay the debt|is|right|wait|or|simply|not have to|responsible Of course, repaying this debt is a matter of waiting, or simply not taking responsibility.

當然 他們 也 是 以 美元 計算 Of course, they are also calculated in US dollars.

嚴格來說 加印 美元 它 要 受到 貶值 的 影響 strictly speaking|printing more|US dollar|it|will|be subject to|depreciation|possessive particle|influence Strictly speaking, printing more US dollars will be affected by depreciation.

所以 它 靠 出口 和 改善 收支 關係 來 影響 所謂 舉債 so|it|rely on|export|and|improve|income and expenditure|relationship|to|influence|so-called|borrowing So it relies on exports and improving the balance of payments to influence the so-called borrowing.

但 不是 不用 償還 的 but|is not|no need to|repay|(possessive particle) But it does not mean that it does not need to be repaid.

因為 美元 是 我們 說 履行義務 的 主體 是 美國政府 是 美聯儲 because|US dollar|is|we|say|fulfilling obligations|possessive particle|subject|is|US government|is|Federal Reserve Because the US dollar is the subject of fulfilling obligations, which is the US government and the Federal Reserve.

他 在 舉債 和 印 美金 貶值 的 時候 同時 要 改善 全球 的 收支 He|at|borrowing|and|printing|US dollars|depreciation|possessive particle|time|simultaneously|needs to|improve|global|possessive particle|balance He has to improve the global balance of payments while simultaneously incurring debt and devaluing the US dollar.

他 有 權利 和 義務 He|has|rights|and|obligations He has rights and obligations.

另外 美國 經濟 在 二次大戰 之後 的 經濟 實力 比較 雄厚 additionally|the United States|economy|in|World War II|after|possessive particle|economic|strength|relatively|strong In addition, the economic strength of the United States after World War II was relatively strong.

而且 投資 環境 比較 穩定 moreover|investment|environment|relatively|stable Moreover, the investment environment was relatively stable.

歐洲 無論 產業 或者 人才 流向 美國 Europe|regardless of|industry|or|talent|flow|United States In Europe, both industries and talent flowed to the United States.

看回 第二次世界大戰 之前 德國 諾貝爾獎 獲獎 人數 是 美國 的 6到 10倍 looking back|World War II|before|Germany|Nobel Prize|award|number|was|the United States|possessive particle|6 to|10 times Looking back at the number of Nobel Prize winners in Germany before World War II, it was 6 to 10 times that of the United States.

相當 誇張 quite|exaggerated That's quite exaggerated.

二次大戰 後 這些 人 都 基本 留在 美國 資金 留在 美國 World War II|after|these|people|all|basically|stayed in|America|capital|stayed in|America After World War II, these people basically stayed in the United States, and the funds remained in the United States.

美國 經濟 很 大 發展 United States|economy|very|large|development The American economy developed significantly.