To be honest, Li Feng is still full of expectations for the layout of the financial crisis. In the previous life, I didn't look at a certain point, the protagonists all achieved their goal of accumulating wealth through the financial crisis, and now that they are personally involved, Li Feng is still very excited to think about it.

In response to this financial crisis, Li Feng has not read many books on finance, foreign exchange, and currency before, such as the national currency exchange rate system, etc., combined with the general memory of later generations, Li Feng clearly knows that this financial crisis began when the Thai baht gave up the fixed exchange rate with the US dollar.

I am deeply impressed by what industry elites like Li Shanquan said about predicting the financial crisis, and at the same time, I feel that there are still traces to follow, which is also the meaning of the existence of people like Soros.

After World War II, after clarifying the "Bresonton System", and thus establishing two major international monetary cooperation institutions, namely the International Monetary Fund and the World Bank for Reconstruction and Development (i.e., the World Bank), it can be said that the world's two major international monetary institutions in later generations were secretly and practically controlled by the United States.

As a result of the establishment of the hegemony of US imperialism after the war, a world currency exchange rate system centered on the US dollar was established. The monetary policies of countries around the world are pegged to the U.S. dollar, that is, the U.S. dollar is pegged to gold, and the currencies of various countries are pegged to the U.S. dollar according to the gold content. It is stipulated that 1 ounce is equal to 35 US dollars, so that the world's currencies are centered around the US dollar.

This is the "fixed exchange rate system under the Bretton Woods system", which is also the origin of what came to be called "the dollar kidnapping the whole world", and this is also the origin of the dollar being called "the dollar".

With the recovery of the European economy and the rise of the Japanese economy in the 6th and 7th decades, the Bretton Woods system finally collapsed and the floating exchange rate system came into being.

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Naturally, each country now has its own set of exchange rate systems for its own currency, and some of the world's major powers have adopted independent monetary management policies for their own currencies, mainly those industrial powers.

In fact, most countries are actually following these industrial powers, such as the British and British countries are dominated by the British pound, France and the French countries, and other European countries are dominated by their own currencies.

As for the United States, it is the biggest rogue country, and the currencies of most countries in Southeast Asia are directly linked to the US dollar, which is why these countries listen to the United States.

No way, isn't there a saying that 'the economic base determines the superstructure'? You don't even have the currency of the country following the dollar, and you can't do it if you don't listen.

In later generations, there was also a name for world currency, which can be used for international trade settlement, such as the US dollar, the Japanese yen, the British pound, etc.

The first world currency was the British pound, which was also the glory of Britain's original empire, but unfortunately it is no longer there, and then the dollar, and then the yen, the euro and even the later renminbi, all have the basis for becoming a world currency.

In fact, to put it bluntly, it is still related to the strength and status of the country, you have the final say when you are strong, from the small individual to the country.

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With the collapse of the Bresonton system, most of the mainstream national monetary policies in the world at present adopt a separate floating exchange rate policy, such as the United States, Britain, France, Germany, Japan, etc., about 30 countries, thus forming a common nature of the "world currency" in the international market, such as the US dollar, the Japanese yen, the British pound, etc. Of course, due to the strong national power of US imperialism, the US dollar has become the mainstream world currency.

The vast majority of other countries in the world are pegged to the currencies of these large countries, which means that their national currencies will fluctuate with the foreign exchange rates of the large countries, which is called the "peg floating" exchange rate system, that is, the national currencies of these countries change with the currency exchange rates of these large countries.

There is also a joint float, that is, a federation between countries, which implements a "fixed exchange rate" within each member state and a joint float externally, which is typical of the European Union, and the result of the later birth of the euro.

Of course, these are the mainstream exchange rate systems in the world, and some of them are based on relevant policies formulated by various parties, such as Hong Kong's implementation of a "linked exchange rate system", which can be said to be a mutated pegged floating exchange rate system, and the currency is based on foreign exchange reserves when it is issued.

The Hong Kong Currency Issuing Bank pays the corresponding US dollars to the foreign exchange reserve fund in advance at a fixed exchange rate of 7.8 Hong Kong dollars for 1 US dollar, and then issues currency, which is a mutated exchange rate system of "pegged US dollar floating", as long as there is enough foreign exchange, the stability of the currency can be guaranteed.

That is to say, if 780 million Hong Kong dollars are to be issued, 100 million US dollars of foreign exchange reserves must be paid to the foreign exchange reserve fund before additional Hong Kong dollars can be issued. In other words, the more foreign exchange reserves you have, the more stable your currency will be.

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Similarly, Li Feng also understood the importance of foreign exchange reserves for Hong Kong, thinking that if Hong Kong did not have the support of the mainland in the financial crisis, it would definitely not be able to withstand the attack of international funds, after all, in the end, Hong Kong and Thailand and other countries The exchange rate system is essentially the same.

However, when it is supported by the mainland's strong foreign exchange reserves, Hong Kong will be able to withstand external pressure, which is one of the reasons why the two attacks on Hong Kong by foreign capital led by Soros have failed, after all, the mainland's foreign exchange reserves are the largest in the world.

It can be said that Hong Kong's performance in the subsequent financial crisis was definitely the result of the huge foreign exchange reserves of the Chinese government, and it is estimated that it will be very difficult to rely on Hong Kong itself. Just like Singapore, although it withstood the pressure, it suffered heavy losses.

Naturally, Li Feng is also concerned about the monetary policy of Huaxia, which is different from other countries in the world due to special political, economic, and financial reasons. The financial and foreign exchange control implemented by Huaxia does not allow free exchange of foreign currencies and other policies.

It is also because of this that the outside world always says that there is no foreign exchange financial market in China, and European and American countries have constantly asked China to implement a floating exchange rate system in the early days.

The advantage of a financial exchange rate system like China's is that China's impact on the financial crisis is almost minimal. However, as the world economy becomes more and more integrated, China will have to integrate into the world economy sooner or later.

Perhaps this is also the reason why the renminbi has continued to appreciate since its accession to the TO, and perhaps the reason why the monetary system has been slowly reformed and gradually integrated into the world economy.

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Since the 90s, there have been two major financial crises. The first was the British currency crisis of '91-92 and the crisis of the European Exchange Rate Mechanism, and the second was the Mexican financial crisis of '94-95.

From Li Feng's current point of view, these two crises are both triggered by currency or exchange rate adjustments, and the situation in Southeast Asian countries is somewhat similar.

Combined with the history of later generations, it was precisely the floating capital that attacked the currencies of various countries, resulting in currency depreciation and even eventually causing countries to abandon their own currency exchange rate systems, and finally triggered the financial crisis in Asia.

Of course, this is also a little experience that Li Feng summed up after looking at some financial exchange rate systems and combining the history before and after, although it may not be comprehensive, but at least it seems to be so.

When making the decision to participate in the financial crisis, Li Feng deliberately checked the previous two financial crises and related materials, including Soros's original case, and finally saw a little sign.

In short, Li Feng also has a certain understanding of the economic and financial crisis in Asia, and has his own opinions based on history, and he is not the financial novice now.

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Next, in addition to Li Shanquan, the heads of the Asian offices of many other companies also came to report.