". I dreamed that I was the king of the universe . You can use 'it' to represent the missing 'that'-clause.
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Hans51each it implies a different oneNo. It's the same referent each time. The 'that' clause can be extremely vague: If you can dream that you will be successful, you can do it (be successful).
Hans51Does this mean that that clause we can put in the sentence is limitless?Pretty much, because it's just something you imagine. If it makes sense in the context, you can invent any kind of paraphrase you want.
Hans51if the two its are the same, it is odd to put that clause instead of it in 'do it' like it = that you will be succes