The future currency war may begin with digital currency

4. In order to prove time and ensure the security of the whole network
without this calculation, the whole system is not secure, so these seemingly meaningless calculations are to ensure everyone's security

5. I've read that the principle is correct and the plot is wonderful, but the content is too exaggerated and conspiracy theory. I think we have to judge when we read. Let's not use Marxism. He only represents his point of view and his own purpose. I think his writing is too extreme The currency war is not entirely true. Part of it is made up by the author. These secrets are sorted out by the author according to the real life materials, and then partially exaggerated. The purpose of his book is to reveal the truth of the world's currency development, especially to change the world's view of the United States. As soon as Mr. Song Hongbing's "currency war" came to the market, it immediately aroused the hot comments of many media, and also aroused the high attention of the relevant ministries and commissions of the state, especially the heated debate between the financial and academic circles. Recently, under the joint organization of China first business daily, CITIC publishing house and Shanghai Ruolin network, Mr. Song Hongbing delivered a speech with currency war in Shanghai and had a dialogue and exchange with some scholars and business people in Shanghai. What can we do to protect the money we earn? At this small forum, song Hongbing pointed out: many people do not know that the Federal Reserve is a private institution. As for the understanding that "the central bank itself is neutral and mainly guarantees the independence of monetary policy", song Hongbing puts forward his own view that whoever owns the central bank controls the financial market. The Fed has a lot of insider manipulation. Song Hongbing said that the Federal Reserve is responsible for the entire issuance system of the United States, which in fact affects the world. It is completely independent, not responsible to the government or Congress, without supervision and audit, that is, there is a fourth power above the three powers. If someone can control the issuance of money, then the basic idea of the financial market will be in trouble. In the United States, it is not the Federal Reserve that reports to the president, but the president should report to the Federal Reserve. To some extent, the power of the central bank is greater than that of the president. There are some problems in such a system. One is the conflict of interest. Commercial banks are the main driving force for the establishment of the central bank. At that time, commercial banks controlled the Federal Reserve. In the process of making monetary policy, these people are the ones who really make strategies. They know the change of policy before the market participants. The right to predict the change of interest rate policy gives them all kinds of opportunities to make money. Second, fairness. If commercial banks use their own money to issue currency, it does not constitute any problem. But in fact, banks issue currency with treasury bonds as collateral. Treasury bonds are the promise of future income, which involves fairness and moral hazard. During the Bretton Woods period, the US dollar was linked to gold, and its value was very stable. Its real purchasing power has fallen more than 90 times since the 1930s. From 1970 to now, especially in the last ten years, its purchasing power has become weaker and weaker. All the scalpers who work as US dollars in the black market have been laid off. This is also the process of accelerating the depreciation of the US dollar. The real estate in the United States has also risen sharply recently. In the 1970s, the price of a house worth 60000 US dollars is 400000 US dollars now. The intrinsic value has not changed. In fact, the currency is worthless. Now the purchasing power of the RMB and the US dollar is declining rapidly. The depreciation of the US dollar has accelerated in the past decade. If treasury bonds are used as collateral in the future, the purchasing power will inevitably decline. The two results of inflation are the decrease of purchasing power and the redistribution of social wealth. If we understand such an operation mechanism, what should we do? What can we do to protect the money we earn? Song Hongbing said that according to the amount of additional currency issuance, saving money can not rely on interest to offset inflation. The financial system gains the most from inflation. The central bank is printing money. Only 3% of the dollars in circulation are in circulation. There will be more and more credit money, not paper money. For example, if you deposit 100 yuan into the bank, the bank can expand it to 190 yuan for loans, and the bank is printing money. The instry closer to the banking system and the instry with the most loans actually gains the most, while the people who do not seek bank loans at all suffer the most. In fact, it is transferring the wealth of the people farthest from the banking system to the people nearest to the banking system. People need to understand the current financial system. Money and wealth are not exactly the same. The possession of wealth means that you own procts and services. Having money in itself does not mean having the same amount of wealth. Money and wealth are not exactly the same concept. When you receive money, don't be confused by the amount of money. The most important thing is to look at the procts and services you have. RMB is devalued for real property. Why is it appreciated for us dollar? Because the US dollar has depreciated more severely, we should consider from the perspective of wealth. RMB is actually devaluing. RMB, US dollar and stock index are all bubbling, that is, academic asset inflation. Serious bubbles will lead to overvaluation of real estate, so we should look for underestimated places. The most stable and effective index for inflation is the price of gold, which includes both assets and price factors. It is the most comprehensive. Therefore, if the price of gold is used to measure inflation, it can best reflect inflation. The price of all gold is strictly controlled. Once the price of gold rises, European banks will auction gold to suppress its price. Song Hongbing thinks the price of gold is undervalued. Real dollar inflation is actually at least twice the price of gold today. If the gold analogy is used, the price of gold is now at least 50% undervalued. When a country has doubts about its paper currency issuing system, the paper currency will depreciate. When people shake the dollar assets, gold and silver are bound to rise in price. When the people waver in the US dollar, they will no longer trust any currency and turn to gold and silver. This year, many European and American media have reported on this. An article directly put forward the view of the end of sovereign currency, that is to say, the central bank systems of all countries are now out of order, and it is likely that there will be a great recession in 1929. This is the biggest warning we've seen for us finance. To Mr. Song Hongbing's point of view, Chen Jian, executive deputy general manager of Cathay Pacific Fund Management Co., Ltd., thinks that it is almost impossible to restore the "gold standard" in currency issuance under such a large-scale situation of global economic development. Chen Jian said: first of all, governments will not agree to the restoration of the "gold standard" because this system will seriously restrict the government's power to regulate the economy by issuing paper money. Therefore, no government (or central bank), especially the big economic countries, will agree to restore the "gold standard". Of course, behind the government's behavior is the demand of social economic activities for a flexible currency issuing system. Under the "gold standard" system, the limited money supply can not meet the demand of a big country or even the global economy for money. Secondly, the people will not like the restoration of the "gold standard". In real life, for ordinary people, they don't pay much attention to which kind of monetary system to adopt. Whether they are doing business or living, they all hope to have a more relaxed and free environment. What we are concerned about is the continuous improvement of our living standards and quality. Take China as an example. Since the reform and opening up, people's living standards have been improved to varying degrees. They have adapted to the existing monetary system. There is no idea to change this system. As for the drawbacks of the existing currency issuance system, we can improve it by means of strengthening supervision and restriction. Chen Jian believes that with the excessive issuance of currency and the continuous exposure of its drawbacks, people pay attention to it, but it will not return to the track of "gold standard". In the era of excessive issuance of banknotes, he is very much in favor of how to avoid being "sheared". He thinks that the essence of this problem is how to manage money correctly. It is reasonable to regard gold investment as a part of personal finance. China should be wary of currency war. Shen Siwei, associate professor of the Institute of economic strategy, Shanghai Jiaotong University, shares song Hongbing's view on the risk of US dollar dominating world finance. Professor Shen stressed: the United States is a country with high consumption of resources. The rise of raw material prices is hard to bear. In order to directly obtain oil resources, the United States does not hesitate to resort to military means and is trapped in the quagmire of Iraq. High oil prices and the sharp increase of military expenditures have led to a sharp increase in the current account deficit of the United States and a substantial depreciation of the US dollar. In this case, the United States does not want to solve its own problems. Instead, with the help of the international status of the US dollar, it has intensified its efforts to promote world financial integration and political integration. In essence, it requires all countries in the world to fully implement the rules formulated by the United States, which is the "rules are exogenous to countries other than the United States, but endogenous to the United States" implemented by the United States. The so-called "political integration" means that all countries in the world should accept the "democratic model of the United States in which the two parties are in power in turn" and be flaunted as the universal values of mankind. This is just another religion. In essence, its purpose is to enable the United States to better intervene in other countries' domestic affairs in order to obtain the maximum benefits. The so-called "financial integration" refers to financial liberalization. Its essence is that the United States obtains the maximum benefit by financing from other countries through US dollars, and then purchasing other countries' assets at a low price through political, military and financial means. Professor Shen said that we can see that the issuing prices of Chinese companies listed overseas are always very low, while those in China are always very high. We can also see that CIC has bought the preferred shares of Blackstone at a high price, while Blackstone has bought the equity of Bluestar. Why don't we buy our own equity? In essence, if you don't transfer your interests to the United States and the international market doesn't allow you to participate, what's the logic? With the advancement of financial liberalization, the world financial market is becoming more and more fragile. In essence, no country can withstand the impact of the world's capital. But the world's capital will never impact the United States, because the U.S. financial institutions are in charge of the global dollar, the U.S. subprime mortgage crisis, the dollar does not fall but rises, this is the meaning of financial hegemony. Please give me a score

6. Bus route: Y7
→
100, about 21.4km
1. Walk about 70m from Leifeng Tower to Jingsi station
2. Take Y7, pass 12 stations,
to east bus station
3. Walk about 10m to South of genxintianqiao (East Station clothing market) station
4. Take No. 100, pass 10 stations,
to Hangzhou bus passenger transport center station

7. Single bet bonus below 3000 in the bet station to get, the province cash
if you bet more than 3000 yuan and less than 200000 yuan, you will receive the prize in the city sports lottery or fortune lottery center
those who have paid more than 200000 yuan in prize money will get it from the provincial sports lottery or lucky lottery center.

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9. At noon today, I discussed this book with my colleagues ~
I feel that the economic crisis plot is not as mysterious as it is written in the book, but Ken is also a big plot planned by the United States for a long time. Over the past 10 years, the US dollar has been devalued and Japan has been tossed about once. They haven't recovered yet. In 1997, the Southeast Asian financial crisis did not cut China. Soros wanted to drag Hong Kong to death, but he was rescued by the Chinese government. This time, they came prepared. If they don't believe in playing, we will pull. Anyway, the United States is the only country that has no foreign exchange reserves, trying to pass on its own economic crisis to the world
I've been quite depressed recently. I'm going to tighten my belt and cry. I'll go to see the Great Depression to prepare myself.

10. Middle school textbooks refer to the general law of economic development and the possibility of economic crisis under normal circumstances; The financial crisis is not. Finance is a super catalyst for the economy. When it is very small, it plays a very important role. But when it is very strong, it becomes a cancer of the whole economy. Because the power financial system has formed a common interest body, when it absorbs more nutrients than the benefits it brings to the economy, the financial crisis broke out. But because the financial system holds all the general equivalents, all the economies will be dragged into the water to bear the financial losses. Therefore, although I do not agree that the economic crisis was initiated by financial bankers, But I also think the financial bankers brought the economic crisis...