Devaluation of virtual currency issued by banks

1. First, virtual money is not money. Q currency can only be cashed in but not cashed out, which means that it has no measure of value, means of circulation, means of storage and world currency, but only limited means of payment. Although perhaps now Taobao let Q coin have limited liquidity. But it can't devalue the real currency. So if Tencent now uses its goodwill as a guarantee for Q currency, guarantee 1q to 1RMB, can Q currency become currency? I don't think so. Q-coin with limited circulation and payment can be regarded as a kind of Tencent bond that does not need to be issued through the issuing institution. Its value depends entirely on how much you trust Tencent. Wait a minute. It also has one thing in common with the famous derivative mortgage backed security. There are only perform and under perform, but there is no over perform like ordinary corporate bonds. That is to say, its price can not exceed the par value. Have you ever seen a company issuing bonds that devalue its currency? As for the bitcoin on the first floor, it's really IMBA. I even read articles on the threat of bitcoin in the publications of the safe. However, circulation and payment are still restricted. Personal point of view, please tap
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The positive effects of RMB appreciation are as follows:

1, favorable for China's import

2, lower cost of raw material import dependent manufacturers

3, enhanced foreign investment capacity of domestic enterprises

4, increased profits of foreign-invested enterprises in China

5, favorable for talents to study and train abroad

6, reced debt service pressure

7 China's asset sale is more cost-effective, China's GDP international status is improved, national tax revenue is increased, Chinese people's international purchasing power is enhanced, and the negative impact of RMB appreciation is as follows:

1. RMB cannot be freely convertible under the capital account, that is to say, the mechanism determining the exchange rate is not the market, and change is meaningless

2 RMB appreciation will bring more pressure to China's deflation

3. RMB exchange rate appreciation will lead to the decline of foreign investment attraction and rece foreign direct investment in China

4. It will cause great harm to China's foreign trade exports

< P > 5. RMB exchange rate appreciation will rece the profit margin of Chinese enterprises and increase employment pressure

6 The fiscal deficit will increase e to the appreciation of RMB exchange rate, and affect the stability of monetary policy at the same time.

the impact of RMB devaluation:

as far as RMB devaluation itself is concerned, it will cause the value of domestic assets to shrink and may have adverse effects on real estate. It is concive to economic transformation. The devaluation of RMB will increase exports and competitiveness, and help to ease the deflation expectation caused by insufficient domestic demand

in addition, the devaluation of RMB has greatly reced the Arbitrage Behavior of international speculative capital, i.e. hot money, and made it sell RMB and related assets and then sell them to US dollars and other assets, which has reced the domestic investment, reced the investment projects that needed a lot of money before, reced the places where money was used, reced the loans, increased the liquidity in the market, and reced the interest rate, The financing cost of the real economy will be reced. Reced investment can improve overcapacity, rece the increasing debt burden, and rece capital demand, which will help increase domestic liquidity

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what is RMB appreciation? In the most popular words, the appreciation of RMB means that the purchasing power of RMB is enhanced, and the price is easy to inflate with its rise

that is to say, before the appreciation of RMB, you can exchange one dollar for 8 yuan, but now you can only exchange 6.12 yuan. That is to say, you used to need 8 yuan to buy one dollar things, but now you need 6.12 yuan to buy one dollar things. The money in people's pocket will be more valuable, and it will be cheaper to travel abroad and buy imported luxury goods

because RMB appreciation will inhibit China's exports. China's main export target is the United States. In recent years, the United States is in trade deficit. Appreciation will slow that down. Relatively speaking, the rise of China's currency value will stimulate foreign imports to China

after the appreciation of RMB, from the macro-economic point of view, the cost of direct investment in China will increase, foreign investors will rece investment in China, foreign tourists will rece tourism and consumption in China, at the same time, a large number of imported goods will flow into the domestic market, which will lead to the re adjustment of some domestic enterprises, and many people may lose their jobs

what is RMB devaluation? RMB devaluation refers to the exchange rate of one country's currency to another country's currency. Many people confuse it with what we usually call "value" of money. Both are indicators to measure the purchasing power of a country's currency, but the former is for the purchasing power of international trade, while the latter is actually for the purchasing power of domestic goods

First of all, you need to understand the concept. The appreciation of RMB means that the exchange rate of RMB against other currencies has increased. For example, in the past, the exchange rate of 1 US dollar to more than 8 RMB yuan, but now the exchange rate of 1 US dollar to more than 6 RMB yuan means the appreciation of RMB. The meaning of RMB depreciation is just the opposite. In addition, at present, the exchange rate generally adopts the indirect pricing method, that is, how many units of local currency can be exchanged for a unit of foreign currency. Only the pound sterling adopts the direct pricing method, that is, how many units of foreign currency can be exchanged for a unit of pound sterling

Of course, RMB exchange rate adopts indirect pricing method. It should be noted that simply speaking of "exchange rate appreciation", whether the local currency appreciation or depreciation depends on the pricing method adopted. If the appreciation of a certain currency (such as RMB) is indicated, it obviously means that the ratio of the currency to foreign currency rises

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If the currency is over issued, there will be more money in circulation in the market. Suppose that no one can afford to buy a rocket of 200 million yuan. Now everyone can afford to buy a rocket of 200 million yuan. The price of the rocket rises from 200 million yuan to 2 billion yuan, which is inflation

with the rapid development of money, people suddenly become rich and more people can afford things, but the quantity of things remains unchanged. When demand rises and supply remains unchanged, prices will rise

the central bank is printing banknotes every year, which is the same as other printed banknotes. If the central bank issues excess banknotes, the excess banknotes will go directly into the Treasury, and then pay salaries to governments and officials at all levels, or carry out the policy of changing sheds to households, and enter the hands of relocated households, which can enter the market

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the manifestation of inflation:

① the issue of paper money must be limited to the quantity needed in circulation. If too many paper money are issued, it will cause the devaluation of paper money, and the price will rise

(2) the price of goods is directly proportional to the value of goods, and the price of goods will rise with the increase of the value of goods

(3) the price is affected by supply and demand, when the supply of goods exceeds the demand, the price will rise

(4) policy adjustment and rationalization of price relationship will lead to price increase

(5) poor commodity circulation, poor market management, arbitrary charges and fines will also lead to the rise of commodity prices. It can be seen that inflation is only when the price rise is caused by the issue of too many banknotes

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8. Economics has a clear answer, and from the perspective of purchasing power parity, the result is depreciation. Even if you don't understand economics, you can look at basic prices.

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Take China's currency RMB as an example, the impact of RMB devaluation:

1, the rising cost of outbound travel

the most direct impact of RMB devaluation on our life is to travel abroad. Yang Yanfeng, an associate researcher of China Tourism Research Institute, believes that "the quotation cycle of outbound tourism is relatively long. Because of the depreciation of RMB, the cost of travel agencies will certainly increase accordingly. In the future, the travel society will quote the price higher."

2. The price of overseas shopping will rise in recent years. Generally, the price of goods purchased from overseas is about 30% cheaper than those purchased at domestic counters, and some even half cheaper. This is also the reason why many overseas Taoists are willing to go far and near. However, if the RMB depreciates, many overseas Taoists will feel "lost" because the prices of some overseas goods they buy will rise

After the devaluation of RMB, students who want to study abroad may have to make a new budget, especially if they want to study in the United States and have not paid tuition fees, they may have to face a slight increase in tuition pressure

According to the analysis of experts, the biggest beneficiary of RMB depreciation is the export enterprises. At present, most export enterprises settle accounts in US dollars. If the method of immediate settlement of foreign exchange is adopted, the income of enterprises will increase with the change of exchange rate. In the long run, the devaluation of RMB will also have a price advantage for export goods

For real estate enterprises, the cost of overseas financing will rise, and they may speed up the price rection sales to collect money. From the perspective of house buyers, the depreciation of RMB will affect the investment demand of some house buyers. The house price in the third and fourth tier cities is likely to fall, but it has little impact on the first and second tier cities

6. The stock market has no effect in the short term, but is bad in the long term. The reasons are as follows: on the one hand, the devaluation of RMB leads to the decline of asset valuation in the local currency, which leads to the weakness of financial, real estate and other related sectors and drags down the overall market; On the other hand, once the expectation of RMB devaluation is formed, it will lead to the outflow of hot money, and the liquidity environment of a shares will be tightened rapidly

The central parity rate of RMB against the US dollar fell by 1.82% on November 11, which triggered a chain reaction in the overseas foreign exchange market and commodity market. Gold and crude oil once fell sharply. However, people in the instry believe that the depreciation of RMB will not have a big impact on the commodity market in the long run

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the effect of currency devaluation:

1. Currency devaluation causes price rise in China. However, currency devaluation can stimulate proction under certain conditions, and rece the price of domestic goods abroad, which is concive to expanding exports and recing imports. Therefore, after the Second World War, many countries used it as a means of anti economic crisis and stimulating economic development

Exchange rate instruments are often used to adjust a country's balance of payments. Governments all over the world hope to use exchange rate instruments to restore the balance of payments. Especially when a country's balance of payments is in deficit, they often use the strategy of devaluation of local currency, hoping to rece the foreign currency price of domestic exports through devaluation of local currency, Enhance the price competitiveness of domestic exports in the international market, so as to promote exports and increase exports

On the other hand, we should increase the local currency price of foreign imports in the domestic market and rece the price competitiveness of foreign imports in the domestic market, so as to rece imports. In short, through the downward adjustment of the exchange rate of the local currency, we can expand exports and rece imports, so as to narrow the trade balance and even the balance of payments deficit, restore balance and even create a surplus

The balance of payments has not been improved or even worsened. We call this phenomenon the failure of balance of payments effect of currency devaluation. The failure of balance of payments effect of currency devaluation has always existed, but it is particularly prominent in recent years