Dubai virtual currency
Vicat China has internally confirmed that Vicat is "direct selling", but it has not obtained the domestic license. In the list of 61 direct selling enterprises published by the Ministry of Commerce, the reporter did not find the name of Vicat
bitcoin and other virtual currencies are open source programs, and the parameters and methods of their total amount limit are displayed in the open source code, so as to show the operation mechanism of the currency system openly and transparently. However, Vicat does not disclose its source code, which in itself violates the basic principles of virtual currency. " In addition, bitcoin and other virtual currencies are scattered transactions spontaneously formed in the market, and after the scale is formed, the third party graally establishes an exchange to complete the transaction. The Vicat is issued by itself and traded on its own platform. The so-called cooperation with the bank is nothing. Vicat currency, which has problems in basic properties, has high investment risk, so investors need to be cautious Netease News)
in the coin circle, bitcoin home and many mass media have also exposed the pyramid scheme of Vicat under the guise of bitcoin
economists point out that Vicat is a virtual currency with the nature of multi-level pyramid selling, and its investment risk is extremely high, so participants should be cautious China business website)
1. Number service
this is one of the favorite services for QQ players. QQ line number provides member level password protection, mobile phone password retrieval, mobile phone lock and other services. In addition, member number also provides a series of functions, such as member number, friend group upload / download, member confidant, member email, etc., which are deeply loved by users. In the number service page of Tencent website, you can apply for QQ line number and member number with QQ coin, and you can also renew these numbers
2. QQ show
you can buy all kinds of virtual goods for yourself or friends in the QQ Show Mall: clothes, scenes, make-up... You see, the charming, charming, charming and handsome images on QQ now are decorated in the QQ show mall. Moreover, you can go to QQ photo studio and take a group photo with netizens
3. QQ game
you should have noticed that in qq2003, there are already QQ game functions. Using q-coin can exchange game currency, you can also buy cheating props in the game< At present, QQ Dating Center is one of the most popular dating centers in China. Here, you can not only find the information of various netizens, but also find the other party's QQ number, and even give him / her virtual gifts. In addition, "dating function" allows you to more accurately find people you like! You can also apply to become a senior member of QQ Dating Center and renew it by using QQ coin
5. QQ greeting card
QQ greeting card is a service launched by Tencent not long ago. You can send e-cards to friends, not only to each other's mailbox, but also to each other's QQ. The monthly fee of QQ card is 5 yuan, you can apply and renew with QQ coin
these are the five uses of q-coin, and it's very easy to get q-coin. In the country's Lianbang software chain stores can buy QQ cards of different denominations. QQ cards with different denominations contain different amounts of Q coins. In addition, you can also apply for a q-coin with a face value of 1-10 yuan when you make a voice call< The conversion between RMB and RMB is as follows:
1.00 ¥ = 1.00q = 10000.00g
one RMB (¥) = one Tencent Q currency (q) = 10000 Tencent game currency (g)
before the outbreak of the subprime mortgage crisis, speculation on hedge funds led to the ups and downs of the international financial market, which has aroused international attention. Germany and France advocate strict supervision, and the United States and Britain oppose each other, which is not concive to the development of financial markets. They also advocate relaxing the saxophone Act enacted after Enron incident. The result is to inlge the crazy speculative behavior of hedge funds and "achieve" the subprime crisis
cruel facts have proved that financial liberalization is not arbitrary or laissez faire. The price of inadequate regulation is very heavy. Strict prudential supervision should keep pace with the development of financial liberalization. Regulation is not intervention
and recently, there is a view that CEOs of some international financial institutions should be brought to justice. There is no difference between the manufacturer of the subprime bubble and the fraud. The virtual wealth should be sold to investors as property. What should be the legal responsibility?
if the foam proct is defined as "property", property rights must be protected. When the bubble burst, "property" disappeared. Someone should be responsible for it. Investors should be responsible, and bubble makers should be more responsible. It is necessary to formulate relevant laws and regulations to punish and restrict those responsible. Maintain fair financial and economic order
whether the government should strengthen the forward-looking supervision of the bubble, rather than the huge cost after the bubble burst, including ignoring great moral hazard.
the impact of the subprime mortgage crisis on the U.S. economy and the global economy is still uncertain. The foam is punctured in the process of foaming, rather than waiting for the huge explosion of foam expansion to minimize losses. In the past, the old age advocated not to control bubbles, and did not know what time the bubble was formed. The fact is, until the bubble is formed, the situation will be out of control. Whether we should think about the regulatory ideas innovatively
the rules of the international financial market should be revised. Financial capital cannot be used to finance a large-scale commodity market with supply and demand pricing. Otherwise, it will disrupt the economic order and the financial market. Most importantly, the large-scale financial commodity market of financial capital affects the supply and demand of goods, determines the basic price formation mechanism of equilibrium price, violates the basic principles of economics, and greatly distorts the price formation mechanism of goods< A survey concted by the Chicago Mercantile Exchange at the request of the U.S. Congress shows that the recent 70% rise in oil prices is driven by speculative capital. These financial securities capital do not have any demand for oil, nor do they need oil supply. They are purely speculating in prices to make money. So speculative capital has a strong incentive to push up oil prices. Recently, it was reported that the Chicago Mercantile Exchange survey report was up, with 81% of non instry trading positions
the market of financial capital or speculative capital is an asset market, not a general commodity market. In other words, this kind of market does not have the utility characteristics of goods at all. It is impossible to achieve the balance of supply and demand by satisfying the utility of goods, so as to form an equilibrium price. Speculative capital and commodity market are not separated, and the premise of the basic price theory of economics is destroyed. As a result, speculative capital uses the specious relationship between demand and supply to push up the price. The breakthrough of the new global financial order may begin with the relative separation of commodity market and asset market
the commodity market, including the commodity market, should be separated from the pure investment market, allowing hedge funds to enter
for example, if China wants to form an exchange rate mechanism based on the relationship between supply and demand, it can not be interfered by the NDF market expectation that there is neither demand nor supply of RMB
financial capital does not participate in any actual economic activities, and the demand of financial activities for monetary function belongs to "speculative demand". Unlike general commodity demand, speculative demand has limited utility and can reach equilibrium level. When the supply of goods increases to a certain extent and the demand of utility maximization is fully satisfied, the market will reach the equilibrium of supply and demand, and the price will be stable at the equilibrium level of supply and demand. Speculative demand is actually "money making demand", and the utility function of "money making demand" should tend to infinity, so there is no equilibrium price
we have noticed that "speculative demand", especially the "speculative demand" for RMB in the international market, actually has no demand for RMB and does not need the supply of RMB. What NDF market finally carries on is the US dollar transaction, which is completely a "game" or "gambling" on the exchange rate of RMB to us dollar
therefore, for commodity markets and exchange rates that depend on the relationship between supply and demand to determine prices, financing costs, in addition to hedging demand for financial capital, should limit the entry of large-scale financial capital, otherwise it will seriously disrupt the market order
a bank's securitization proct is to disperse the risk of discount banks. All banks' loans are securitized. Thousands of institutions create trillions or billions of securitization procts. If the market value of the procts exceeds the total GDP, it is not to disperse the risk. Especially if the holders of all procts are the same in the end, it means that the space for risk dispersion is given. It's just that the risks are different for each part. The result is a systemic risk, which is the risk of the whole market
just like the exhaust emission of every single vehicle is qualified, but the exhaust emission of three million vehicles is pollution. Especially when the emission space is given
there is a famous conclusion in statistics that the results of small sample and large sample are different. In the theorem of large numbers, small samples are divergent and large samples are convergent. A single "innovative" proct is designed to achieve the purpose, but the scale can not be unlimited. Any proct should have design capacity. If it reaches the capacity limit and increases proction by force, safety problems will arise. Trading system, the occurrence of trading errors, there is no problem in the operation procere, the reason is that the unit time trading energy is exceeded, the feedback of trading information is delayed, which is completely correct operation, leading to serious mistakes. Tokyo Stock Exchange has stopped trading abruptly several times, which is related to exceeding the maximum design capacity of the trading system
this subprime mortgage crisis is also a myth of financial innovation without risk.
there are two ideas to change. First of all, financial innovation should return to the basic concept. Financial innovation can not eliminate risks. To put it mildly, it can only manage risks. To put it more directly, it can transfer risks. Therefore, there must be a total capacity setting for the market of financial proct innovation to bear the transfer risk. If financial innovation exceeds market capacity, it is to create system risk, market risk and financial crisis
secondly, from the basic role of financial innovation in transferring risks, financial derivatives market is a zero sum game. Therefore, derivative procts should be launched to hedge risks, rather than from investment instruments. The characteristics of leverage trading are to enlarge capital, enlarge income and enlarge risk
the comparative advantage of financial service instry in developed countries is very large, and the intermediaries providing all-round financial services are mainly the financial institutions in the United States and Europe. Promoting financial liberalization is in line with the economic interests of strong financial countries. The United States and Europe have great motivation to comprehensively promote the rapid expansion of financial globalization, especially to the emerging markets. Take an explosive global financial expansion
the core content of the so-called financial explosion is to promote emerging markets to accelerate the full opening of financial markets, including banking, securities, insurance, all financial sectors, relax the access threshold of foreign financial companies, relax capital control, free flow of capital, and finally realize the globalization of domestic financial system
this kind of all-round and explosive global financial expansion is very dangerous to the emerging market economy. The process of financial liberalization in emerging markets should develop orderly. Graal development, not ahead, not extreme, not yet learn to walk, want to run
the appropriate proportion of foreign banking institutions' access can truly provide valuable financial service procts, such as financial advisory services for listed or quasi listed companies' value enhancement, technical and advisory services for risk management of banks and other financial institutions, reform of more flexible exchange rate mechanism, graal full convertibility of local currency, etc. In short, what needs to be orderly and accelerated is the construction and improvement of the domestic financial system, which is very important to keep pace with the financial opening. In the process of financial liberalization, we should keep the initiative and control any external shocks
if we do not rethink these problems, not only will the bubble crisis be made at one time, but the emerging market countries will once again passively deal with the crisis and pay for the crisis. More importantly, if we do not rethink the causes of the subprime crisis and the deep-seated problems of financial development, and continue to follow the crisis thinking, the financial development of emerging markets is not a simple and repeated problem, but a crisis that we can not afford. To protect themselves and establish a fair international financial system suitable for the development of the financial instry of developing countries, emerging markets should participate in the formulation of the rules of the game. Just like WTO's multilateral negotiation and international trade rules making, we should establish a multilateral negotiation mechanism, consider the interests of all countries, and establish a new international financial order. Rules can not be made only by strong countries and regions
China has successfully avoided the impact of the Asian financial crisis, and should be able to absorb the impact of the subprime mortgage crisis to a certain extent. We should study our own experience and lessons from the subprime mortgage crisis, so as to make China a better financial power in the world and some countries, while others will not be hurt? How to innovate in China's finance
question: in the case of the subprime mortgage crisis, how can China take some countermeasures to minimize its losses? The so-called financial innovation is a very important aspect that has been respected by the financial instry. Within our cognitive scope, the most important point of financial innovation is derivative procts, which is a virtual thing. You once said that financial innovation, the wall street economy has collapsed. Under this premise, how can China innovate in finance and how can it innovate
Zuo Xiaolei: my view is not necessarily right. As I said just now, how to prevent the financial crisis in China may have been dampening its impact. The impact on China is discussed more about exports because of external demand
I don't think we have a direct way to deal with the impact of external demand, because it is an external problem and we have no problem ourselves
export is affected by the subprime mortgage crisis, China's economy is affected, and foreign demand is reced, so you use domestic demand. From the perspective of stable economic growth, foreign demand is reced, and export is affected, then domestic demand is increased
how to stimulate domestic demand? There are many topics. I talked about this topic in Chang'an club today
Although Yapu island looks like the garden of Eden, today's society is a global village. During World War II, the people here once caused great casualties to the US military. They also had the heart to defend their homeland. The land under their feet once shed the blood of their ancestors. After the immigration, Yapu island is still blue sky, clear water and lush vegetation. There's money everywhere, beautiful women in traditional straw skirts and sheikhs who can take pictures with them
for Yapu Island, which uses stones as currency and relies on putting stones to show off its wealth to find a wife, if possible, you might as well take a look. However, carrying normal currency is enough, do not take a few tons of stone, otherwise it would be a big freight