What is Currency?

In ancient times, the shell cloth was it, then the metal, the precious metal was it, then the paper was it, and then it only existed in memory, and when the pen was stroked, the keyboard was struck, and it came out.

You can see it, you can feel it, but you just can't touch it, because it's long gone.

When it is metal, the state takes ten of it and melts it into thirteen denominations, and uses the dominion of the state to get three of its money.

At the beginning, the gold and silver shop mortgaged ten of it to issue ten gold and silver reserve bills, and later mortgaged ten of it, and announced that there were twenty of it, which were used to issue twenty reserve notes, and the ten reserve notes exchanged for private credit were used for lending, and three of them were given interest.

Later, the state opened a gold and silver shop, mortgaged ten of it to itself, issued twenty reserve bonds, and used the ten reserve bonds exchanged for government credit to lend, and obtained three of them, and the place where it stayed was called the central bank.

In the beginning, the bank collateral is precious metals, 10 precious metals + 10 credit = 20 precious metal reserve volumes

Then, 10 credits + 10 credits = 20 precious metal reserve bonds. At this time, there were precious metal reserve notes, but the precious metals were gone.

The age of credit for central banks and private banks has arrived, and there is no collateral left.

Then, 10 precious metal reserve bonds + 10 credit = 20 precious metal reserve bonds.

Then, 10 precious metal reserve coupons + 10 precious metal reserve coupons = 20 precious metal reserve coupons.

At this time, the precious metal reserve notes are still there, the precious metals are long gone, and the credit is gone.

The era of credit has passed, and the era of confidence has begun.

Why is credit gone?

Isn't the central bank's money issuance a government credit as collateral? Isn't it possible for a private bank to mortgage a house for money?

What is Credit? What is money? What is the collateral issued by a private bank? What do you get in exchange for a house?

Without any collateral, it is a white strip, and without any collateral, it can also be issued with a white strip, and the credit is long gone, and the house is exchanged for a white strip.

There are no precious metals on the white bar, no credit, only confidence.

The Federal Reserve is a private bank, and it ostensibly mortgages U.S. Treasury bonds, and the U.S. issuance of Treasury bonds does not rely on precious metals, but confidence.

What is the relationship between confidence and money?

100 yuan banknote, the country's development is good, ten years later, 100 yuan can buy things that were 50 yuan ten years ago, and the country's development is not good, ten years later, 100 yuan can buy things that were 10 yuan ten years ago.

Confidence does not determine the value of money, but confidence has an abstract cognitive relationship with money, and it is precisely by using this general cognition that we can manipulate the fluctuation of currency value, and only then can we have a discount market and an international foreign exchange market.

The good or bad of the country's development has nothing to do with the white bar, and the white bar wants to use the white bar to mortgage industrial products, the essence is to mortgage confidence, the speed of industrial products to eliminate and reduce prices is much faster than that of precious metals, which can neither be measured nor concrete, and will fluctuate violently when transmitted to the white bar.

The natives have more confidence, and the tribe cannot be upgraded to become a world hegemon, and confidence will not play any role.

Whether the country collapses or develops into a world hegemon, it has nothing to do with credit currency, it has nothing to do with confidence currency, it has nothing to do with white stripes.

In the early days money was gold and silver, the general equivalent, then credit, and then it was just a means of domination, and there was no such thing.

Confidence is a feeling, money is a faith, and the monetary system of later generations is a rule that evaporates money itself, and what evaporates is faith itself.

This monetary evaporation system must have a very large base, there is no difference between high and low pressure in the house, and if the air flow cannot flow, there will be no storm.

A few people can't play this system, and no one recognizes the white strip.

A bank is found to have insufficient reserves, and the possibility of a run is much smaller than a few people, but much higher than that of a bank. Banks are second to the state, the state and the country, the society and the society, and the whole world are dragged into this system, so that through the relationship between low pressure and high pressure, air currents, storms, and ecosystems can be generated.

Once the money game ecosystem comes out, you can continue to play the game. The reason why an ecosystem is called an ecosystem is that it has a food chain and follows a food chain, which breeds crises and kills all the time.

With only 100 million tonnes of gold in the earth's crust, it is too fragmented to allow for a limited annual increase in gold mining, and the core principles of capitalism, which constantly create demand, will cause the material world to expand dramatically, creating new material wealth each year far more than gold can grow.

China is a big gold mining country, with an annual gold output of 400 tons and an annual GDP growth of 4 trillion yuan, if it is denominated in gold, 1 gram of gold is equal to about 10,000 yuan, and it will be higher and higher.

In 1944, the Bretton Woods system dollar anchored gold, which was the wishful thinking of the United States, through the appreciation of gold itself and the interest rate of money, constantly rolling and superimposing gold reserves.

It lends out loans through the Marshall Plan, the IMF, the World Bank, etc., and gets the interest back, but the gold does not leave the country, and it does not even go out of the dollar banknotes, that is, it opens a dollar account with the Federal Reserve, and the money is on the account, and the keyboard is a matter of tapping.

The money interest generated by the annual appreciation of the gold reserve + the interest on the gold reserve is greater than the growth of expenses, and the money interest will continue to become the gold reserve, and this monopoly game will be played.

The decomposition and combination of all financial means are in the service of this very simple formula.

I thought it was good, but I ended up playing badly. Underestimating government spending and the people's desire for pleasure, the growth of money and interest is not as much as spent. In order not to hurt himself, he scrapped gold, changed from a mode of seeking a trade surplus to a mode of exporting inflation, and began to play with a confident monetary system.

You don't have to write a paper, the essence is very simple.

The monetary system is a world system, it is not air-to-air.

It doesn't matter if you take a white strip, there is always something for you to consume with a white strip, and the nature of demand and competition created by capitalism determines that more and more materials will be created, and the waste will be greater and greater.

One person throwing a few mobile phones is canceling out the white bar effect, and eating more meat will offset it again, and vegetarians are destroying the world. In addition, there are countries that encounter crises from time to time and fall to the ground due to strokes, which offset a lot.

This is a monetary ecosystem, not all bad, without the constraints of precious metals, it can be expanded indefinitely.

At least technology will change with each passing day, and there will be more and more new things.

As for whether it will collapse, no one knows.

In the future, the total amount of global currency will only be 80 trillion US dollars, of which paper money is only 5 trillion US dollars, the Federal Reserve debt is only 4.5 trillion US dollars, but the derivatives market has reached the level of 1,000 trillion US dollars.

The sovereign currency of the Germans, Italy, France and the Netherlands, the euro, is the international currency, and they do not buy much into the accounts of the United States, and more than half of their foreign exchange reserves are gold. The United States still has more than 8,000 tons of gold reserves of 20,000 tons after the war, which means to stabilize the monetary system in case of accidents.

The figures of gold reserves and market stocks are unreliable on paper, and none of the GDP is real, and the specific stock intelligence departments of various countries have statistics, and this amount is absolutely not enough, and the amount of 8,000 tons of a fishing boat cannot be filled with the total wealth of a country.

But Japan and the United States have long been zombies, how much gold is meaningless, not afraid of the total debt, no matter how big it is, what the total amount of national debt is higher than GDP is all news and speculation, whether the debt is benign or malignant only depends on a formula, as long as the yield is greater than the loan interest rate, the higher the total debt, the greater the profit, and the astronomical amount of national debt is not afraid, that is all profit.

The higher the debt, the faster the development and the happier the people.

Whether the company's debt is healthy or not also depends on this formula, but the company's performance fluctuates greatly, the fixed assets are limited, and the debt ratio allowed by bank credit risk control is limited. It doesn't matter if it's a big country, it's enough to have interest, support the bold, starve the cowardly, and the national debt will fly into the sky, and it's okay to stand shoulder to shoulder with the sun.

The annual increase in fiscal revenue is greater than the annual increase in fiscal deficit, and it does not matter how big the deficit is. The deficit as a share of GDP is less than the GDP growth rate. It's not a deficit, it's a red age, and the economy is good.

Inflation and deflation are related to money supply and imports and exports. The advantage of the hegemon is here, its sovereign currency is the world currency, which can print white slips to pay off foreign debts, and is exporting inflation just like the trade deficit.

It is printing treasury bonds and not circulating US dollars, so it is not afraid, foreign currencies will always have depreciation pressure on it, its currency will be relatively strong, and it is not the same game as other countries.

A quarter of the U.S. Treasury bonds are external, and it pushes out a trillion Treasury bonds, which it has nothing to do, just billions of interest every year, one trillion is the inflationary pressure of the outside world, and the remaining three-quarters are the interest rate spread pool dug by derivatives, so it will not be inflationary.

The outside world is facing the dual pressure of inflation and currency depreciation, and the depreciation of the relative dollar is evaporating its debts, and it is still relatively depreciating without the rapid growth of its GDP.

The United States has a trade deficit of hundreds of billions every year, and the national debt is equal to GDP. Export inflation, causing foreign currency depreciation, which is recovered from the foreign exchange market and derivatives market. How many years have I deceived the world, the essence is actually very simple.

The stronger the dollar, the more ruthless it is to rob the outside world. The more chaotic the world, the stronger the dollar. The more inflation is exported to the outside world, the stronger the dollar becomes.

The international foreign exchange market closes once, and the pool of interest rate spreads in the derivatives market closes again. The euro, the ruble, etc., are all going down all the way, and they are all working for the United States.

The secret of why the US trade deficit is so large and its debt is so high, but the US dollar is appreciating.

It exports democracy as a sideline, its main business is to export inflation, it is already a usury empire, a waiter holding a big gun, except for the service industry is the military-industrial complex, the cancer of the world.