"The global economy is standing at a historic turning point. An era that is more open and freer than before has arrived. We need a currency that can represent all currencies to replace currencies in the traditional sense for transactions."
"World United Savings was established for this purpose."
Facing the cameras of media reporters, Rocky made a speech.
World Union Savings.
Just by hearing the name, it is not difficult to guess what this organization does.
The originally peaceful weekend suddenly became unstable because of this shocking news. Especially in the international financial community, with the news of the establishment of the World Federal Reserve, there was a magnitude 3 earthquake, which even overshadowed the completion of the South American space elevator.
Eyes from all over the world immediately focused on the originally peaceful island of Manhattan. The world's major media also conducted detailed follow-up reports on this matter immediately. It's unclear what impact this will have on the global economy because not many people think they can succeed.
Even with the collective endorsement of Wall Street bosses, it is impossible.
Unifying the currency cannot be achieved with just one sentence. There are too many political factors involved. Even with the combined power of the entire Wall Street, it is impossible to achieve it. If nothing else, the new Fed, the boss behind the global economy, has yet to speak.
Even if World Union Savings was to be established, it should not be led by First Bank of Boston. Future Bank’s qualifications were so high that he didn’t know where.
However, things soon developed further, which surprised everyone.
On the first Friday after the establishment of the World Federal Reserve was announced, the new Federal Reserve announced that it had reached cooperation with the World Federal Reserve on currency exchange issues...
Huaguo, Shangjing City, in an apartment within the second ring road.
It's New Year's Day, and it's rare for the family to get together for a meal.
Today's main news is playing on the TV.
“First Bank of Boston, together with more than 20 banks and investment banks including Chase and Citigroup, established World United Savings and cooperated with central banks of various countries to issue a unified currency to strengthen free trade.”
"It is reported that the Federal Reserve and the New Federal Reserve are the first to cooperate with it. More than 20 central banks of Pacific Rim countries, including New Zealand, North America, and Canada, will join the Pacific Rim unified monetary system led by the World Fed. The contracting countries will pursue a more open policy than the TO Free trade policy, using 'Shiyuan' as the settlement currency."
"CCTV reporter, reporting for you."
"This American is really dishonest. He has come up with something new." Wu Jianbin said with a smile as he watched the ghost guy on TV speaking into the reporter's microphone.
"I'm afraid that the Americans are not responsible for the Federal Reserve Bank." Wu Changfeng glanced at the TV screen and said with a smile.
"oh?"
"You see, the person who spearheaded the establishment of the World Federal Reserve Bank is the First Bank of Boston. Do you know the origin of this bank?"
"I remember it was an American-Swiss joint venture bank. Chase and Citigroup should be more famous than it." Wu Jianbin frowned.
"First Bank of Boston is the strategic partner of Future Bank, and the Boston consortium behind it is now the king behind Wall Street. You should understand what I say, right?" Wu Changfeng smiled.
"You mean, the World Fed is actually endorsed by people from Starring Trading?" Wu Jianbin's eyes lit up and he immediately reacted.
"You should ask this, without the endorsement of Starring Trading, how dare First Bank of Boston act like this? Let alone Boston, the entire Wall Street combined may not be enough." After a moment of pause, Wu said Changfeng smiled and continued, "Jianbin, you are in the real estate business. Let me give you some advice."
"Haha, since when did my brother care about business? Then I have to ask for advice." Wu Jianbin smiled and toasted him with a glass of wine.
"Times have changed. Don't always focus on domestic business, and broaden your horizons."
"You mean the real estate business is dead? That's impossible." Wu Jianbin shook his head and said with a smile, "The total amount of M2 has increased 80 times in 25 years, and the over-issued currency has surpassed the combined money supply of the United States and the European Union. The total economic volume It’s less than one-third of it, if it weren’t for our real estate holding down it, haha.”
Wu Changfeng smiled and said nothing.
He has already said what needs to be said, whether you believe it or not is none of his business.
What's more, he really doesn't like the family business now.
There are benefits to a single currency, that's a given.
Even a layman in economics can see that a unified currency can help reduce transaction costs, reduce the risk of exchange rate fluctuations, promote trade, increase the competitiveness of trade areas, etc. But in contrast, a unified currency will also have costs.
Taking the Eurozone as an example, a unified currency causes a country to lose its independence in exchange rate and monetary policy, which means that macro policy makers actively give up monetary policy and only use fiscal policy to control the macro economy, which greatly weakens the ability of macro policy makers to deal with "asymmetry". ability during impact.
Take Germany and Greece as an example. Both countries use the same currency and have the same interest rates. However, the German industry is more developed than that of Greece, the labor force is more educated and more productive, and the cost of industrial products is lower.
Now the European Central Bank has issued a loan to both countries at the same time. Germany can use its advanced industries and productivity to create wealth far greater than that of Greece through this capital, so capital and high-quality labor are coming. However, Greece could not generate such large profits at all and could only maintain the local economy by issuing welfare benefits and encourage people to consume, which ultimately led to the euro zone debt crisis.
However, it is undeniable that a unified currency will greatly enhance the competitiveness of the trade area.
If the World Federal Reserve created by Wall Street is not enough to make people feel afraid, then the subsequent participation of more than ten Pacific Rim countries such as New Zealand and the United States will be enough to make other trade areas feel real fear. panic.
Panic is the right word to describe it.
This will be a trade area several times larger than the EU, and its trade efficiency and competitiveness will be unimaginable in other trade areas.
To this end, the Kremlin has held two consecutive ad hoc meetings to discuss the World Bank and its possible impact on the Russian economy. Putin and the Russian Minister of Economic Development, who were on a diplomatic visit to Europe, ended their trip ahead of schedule and returned home to support the meeting.
On the other side, the same goes for Shangjing City.
On the first weekend after the establishment of the World Federal Reserve was announced, the central bank held an interim working meeting to discuss the formulation of new monetary policies to deal with the possible impact of the establishment of the World Federal Reserve.
Whether you like it or not, the establishment of the World Federal Reserve is affecting everyone's nerves...
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(I started having diarrhea the night before yesterday. I lay in bed all day yesterday and didn’t eat anything. In the end I couldn’t hold on anymore and ran to the hospital to get an IV. I went home at night and typed out a chapter. I felt light-headed and light-headed. I can’t bear it anymore and lie down in bed. There is only one update today. Chenxing is here to say sorry to the brothers...)
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