"That country was founded only 200 years ago, so that her currency became a worldwide hard currency, and established a global settlement system, and established a monetary hegemony - and the realization of all this, in the final analysis, lies in the free market competition environment, so that these private commercial institutions want to survive in the competition, they must do behavior in line with market norms, they must not be capricious, they must be rational, they must obtain market recognition through service and morality, and these are difficult to consciously do as a government @ government.

Because it is the people who make up the government @ government, not saints, let alone immortals, these people have the urge to manipulate power for profit anytime and anywhere, if the power of this government @ government is still boundless, it will be too dangerous.

All in all, one of the important factors in the country's financial success is precisely because the Federal Reserve Board is a private institution. ”

When Yu Hewei said this, he already had a solemn face:

"Ladies and gentlemen, there is innumerable evidence that once those in power who have public power have mastered the issuance of money, then this currency is dangerous, because the visible hand always has the urge to spend money on expansion, and the stronger the visible hand, the more so.

Especially in the absence of oversight, a man with unlimited power to print money is terrible for money, just as the visible hand is always a disturbance of the invisible hand, and the greater the power of power to interfere with finance, the greater the danger of the depreciation of the currency - this is proved by countless facts in the history of the Old World, and I will not be able to illustrate it here......"

Yu Hewei's speech did not end here, but the later historical records are vague, and there is no detailed record of what was discussed at that meeting, but later facts have proved that at that meeting in early December 1659, it was very important for the travelers to discuss certain matters, and many years later, whenever there was a major financial decision, there would be people who mentioned the content of the discussion, and this discussion had an unofficial name - "Resolution of the Morning Seminar", Because the meeting was unusually discussed and did not end until the end of the morning.

However, there are only a few records in the "Zhu Beiguo Diary" about the meeting minutes of the "Resolution of the Linchen Seminar", and the official record is only a few words, and then the file name of the "Linchen Seminar Resolution" is given.

Another reason for the lack of records is that the owner of the diary was battling an ocean storm aboard the Imai at the time, and the person was not present, but only later recorded part of the meeting through telegram exchanges and relays.

Needless to say, the meeting was a very significant milestone, and it was from December 1659 that the people of Mornington Island, especially the students of Bamboo Garden and Sunflower College, as well as the employees of the major companies, received at the end of the month something they had never seen before—meal tickets.

What people don't know is that it was from this humble change that the Commonwealth of Australia gradually stepped onto the world financial stage - until a few years later, the currency of the Commonwealth of Australia finally became the international settlement currency accepted by all countries in the world.

However, there were several other events that took place in December than just the distribution of meal tickets, but they were done in a very low-key manner — so low-key that no one except the people in the Red Chamber knew about it.

The first is the establishment of the "Australian Development Bank" (referred to as the Australian Development Bank) and the "Australian Federal Reserve Board" and "the Federal Reserve Board for short".

The heads of these two institutions were also determined at that meeting - it is believed that in addition to Yu Hewei, Ba Lao is also an expert in this area, so the members of the Senate - strictly speaking the shareholders of these two institutions - handed over these two financial institutions to Ba Fengtian to take care of.

Since Sun Lao came back, Lao Ba immediately found Sun Lao to resign, he said that he thought about it for a long time, or felt that engaging in finance is his interest, and now that you are finally back, it's time to put yourself to do what interests you, right?

Sun Lao immediately summoned a few old guys in the Red Mansion to discuss - this is Sun Lao's habit, whenever there is a major personnel decision, he must first discuss with adults who are about the same age as him, such as Mr. Zhao, Lao Wang, Dr. Zhu Quan, Gu Jinluo, and others, so the young people in the Huotang Club privately said that this is "old man @ decision" - of course, it is completely joking.

The result of that discussion was that everyone agreed to Lao Ba's request, and received a lot of blessings and support.

For this reason, Lao Ba was very happy that he could finally hand over the daily coordination and management work to Sun Lao, so in these days, he began to concentrate on planning the development of the bank.

Although Lao Ba resigned from the vice presidency and still needed to report to the Senate, Sun Lao knew that finance had always been Lao Ba's interest in life, so he not only took on all the daily work in the past few days, but also did the work that was originally Lao Ba's share of drawing progress charts hanging on the wall every day.

On the fifth day after the "Morning Seminar", the Federal Senate held a plenary session and announced the establishment of the Federal Reserve Board on the same day.

Sun Lao had discussed with everyone in advance, and planned to ask Lao Zhu to take over Lao Ba's vice presidential position, Lao Zhu did not agree at the beginning under the pretext that he was busy with work, but Sun Lao found Miss Xiaorong through Xia Xiaoou, and then didn't know how to do it, anyway, Lao Zhu quickly agreed.

According to the law, the vice president is nominated by the president, and then goes to the Senate to get a majority vote to pass, the process is very smooth, Lao Zhu becomes vice president - but the most excited person is his wife Li Xiaorong, for which she was forced by Sunflower's sisters to entertain in Sunflower's canteen, spending half a month of her meal ticket......

At this meeting, Ba Fengtian was also elected as the first chairman of the Federal Reserve Board, and Xia Xiaoou, the minister of the Federal Finance Department, was elected as the vice chairman.

The Chairperson and Vice-Chairperson are elected for a term of 10 years and are eligible for re-election.

As for the board of directors of "Australian Corporation", in addition to the chairman of the board of directors Ba Fengtian, the management candidates also include Yu Hewei, Du Na, Cheng Fangfang and Han Letian, and Zhu Cunxiang was elected as the only vice chairman of the board.

The meeting also decided on an important personnel appointment for Yu Hewei - as the actual operator of the "Northbound Fund", the real general manager of the private property of all the traversers, he will participate in supervising the management of the two major financial institutions as an investor - Yu Hewei will serve as the chairman of the board of supervisors of the Australian issuance and a lifelong adviser to the Federal Reserve, and has the right to attend all meetings of the Federal Reserve and has the right to vote with a weight coefficient of two.

Later, Yu Hewei's voting weight was as high as twenty-seven! In other words, Yu Hewei's one vote is equivalent to twenty-seven votes of ordinary members - obviously, this is the content of the original "Linchen Seminar Resolution".

There is a reason for this, first of all, everyone agreed that as the head of the "Beishang Fund", the chief steward of the property, must occupy a dominant position in the most important national financial management organization in the future, not to mention that Yu He is a recognized financial professional, whose character and ability have long been recognized by the members of the board of directors of the fund.

Second, the "Northbound Fund" should and must stand behind the Federal Reserve as the most important financial support, after all, the Federal Reserve is a public organization facing the open market, so this Federal Reserve cannot and should not be closed, but the "Northbound Fund" is obviously a closed nature, similar to a private "private equity fund" commercial institutions---- from a legal point of view, private equity funds cannot come to the foreground to become the Federal Reserve, so in this case, it is necessary to grant Yu He voting weight in the Federal Reserve, which is very important for the preservation of the property interests of all traversers and their children and grandchildren.