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Yang Chao came to Shanghai to attract attention from all walks of life, and as soon as Yang Chao came to Shanghai, he held a meeting with bankers, and bankers all over the world were paying attention. Pen @ fun @ pavilion wWw. ｂｉｑUｇE。 ｉｎｆｏ

The whole world is speculating that the Chinese may also give up the gold standard, although China implements the silver standard linked to gold dollar coupons at home, but internationally, but strongly promote gold yuan coupons linked to gold, and only China in the world is this strange practice, separating the trade currency gold dollar coupons from the legal tender China.

Therefore, the international banking community decided that China was afraid that it would have to abandon the peg between gold dollar bills and gold, so countries holding gold dollar bills began to run on them one after another. Among them, the largest number of gold dollar coupons are held by European countries, especially several small countries that have signed free trade agreements with China, among which the Netherlands and Switzerland, two countries with developed trade and financial industries, hold the most, the Netherlands holds at least 100 million, and Switzerland also has as much as 80 million.

The two countries quickly exchanged gold dollar bills in Europe, and the exchange center for gold dollar bills was set up in London, and as a result, the British thought that gold was flowing out, so they immediately took emergency measures to restrict the free flow of gold in London.

As a result, in addition to the protests of the Netherlands and other countries, China has lodged a solemn protest, first denouncing Britain's abandonment of the gold standard, believing that it is undermining the international financial system and irresponsible behavior. It also restricts the free convertibility of gold dollars and gold, and it is a forced interference with China's gold standard, and China retains the right to sell British government bonds to counter.

Britain did not expect China's reaction to be so strong, in their view, the temporary suspension of gold outflow from London has a deterrent effect on the running on gold dollar bills, is to help China, but did not expect the Chinese to issue a threat to sell British government bonds. The decoupling of the pound from gold, as well as the sharp depreciation, has made the pound lose its credibility in the world, and if the Chinese sell the hundreds of millions of pounds of bonds they hold, they will undoubtedly destroy the entire British credit system.

The British immediately explained that they were not banning the circulation of gold, but only temporarily restricting the size of circulation and protecting the world financial system, and then they announced the standard that the daily flow of gold out of London could not exceed 100,000 pounds.

China's central bank is still not buying it.

Soon after discussing with Switzerland and the Netherlands, it was proposed to set up clearing centers in Basel, Switzerland and Amsterdam, the Netherlands, so that the cash exchange business that was originally only carried out in London would be dispersed in the Netherlands and Switzerland. However, the Netherlands and Switzerland are required to guarantee that customers who hold gold dollar vouchers can withdraw their gold from both countries at any time.

The attitude of the Chinese central bank has been unanimously praised, and in the context of European countries moving away from the gold standard, the franc has long been devalued, and the pound has also depreciated, the Chinese are still insisting that the gold dollar bond is linked to gold, which really requires courage.

But international bankers have great doubts about China's approach, and they don't know where China's confidence is in sticking to the gold standard in the face of a major crisis.

Soon they knew.

Yang Chao and Zhang Jiaao held a press conference together.

"I solemnly announce once again that I will inject 20,000 tons of gold into the central bank. It serves as a guarantee for the issuance of bonds by the state. The Chinese government has pledged to issue 100 billion taels of bonds within 10 years. ”

Yang Chao told reporters from all over the world.

Then Zhang Jiaao said: "The People's Bank of China has decided to provide 2 billion taels of emergency loans to the Chinese banking system from now on to help China's banking industry get out of the crisis. We believe that China's banking sector is doing well, they just lack liquidity, and once there is sufficient money injection, the banking crisis will end quickly. ”

Then the two were questioned by reporters.

A reporter asked Yang Chao about the source of gold.

Yang Chao said with a smile: "Gold reserves are state secrets in all countries, and I can only tell you that 20,000 tons of gold is only a lot more." I can also come up with more gold if necessary. ”

A reporter asked Zhang Jiaao whether China would end the silver standard and the bank's gold standard.

Zhang Jiaao replied: "This possibility cannot be ruled out. ”

A reporter asked Yang Chao again why he didn't take it out earlier since China had stored such a huge amount of gold.

Yang Chao replied: "This gold is a strategic reserve, and it is impossible to take it out until the last resort." ”

A reporter asked Zhang Jiaao what is the bottom line for China to adhere to the gold standard, and if there is a large outflow of gold, such as the situation in the United Kingdom, how long will China hold out, and how much can China tolerate the outflow of gold.

Zhang Jiaao replied: "Adhering to the gold standard is an attitude of being responsible for the world and the country's economy, and China is unswerving in this regard. As for the loss of gold, this is not on my radar. ”

After the press conference, China's attitude of course once again aroused praise from the world, but at the same time, it also made people feel Yang Chao's mysterious wealth, of course, there are also doubts about China's gold data, thinking that it is just a bluff, the world's gold adds up to only 30,000 tons, where do the Chinese get 20,000 tons.

Just because his ancestors were pirates, it is obviously impossible to accumulate so much wealth. The output of gold mines in Heilongjiang and Siberia, according to published data, takes 50 years to produce 20,000 tons of gold.

But they were quick to believe.

Because a heavy train from the north went to Shanghai under the heavy guard, the car was full of gold, and when the truck arrived, reporters from all over the world were specially invited to visit, and a piece of 400 ounces of London standard gold nuggets did not look like a fake, and the reporter personally measured the weight.

Witnessed by dozens of journalists from various countries, the gold was unloaded from trucks, pulled onto National Guard vehicles, and driven to the central bank's vaults for safekeeping.

China's increase in gold reserves by 20,000 tons has been confirmed, coupled with China's previous insistence on the gold standard of gold dollar bills, so that everyone suddenly realized that it is no wonder that people do not need to restrict the free circulation of gold, people have this confidence.

For a while, the trend of running on gold dollar bills subsided, and not only that, many countries are considering increasing the reserve rate of gold dollar bills, after all, the pound is unreliable in these years, the franc is unreliable, and the reliable ones are the dollar and gold dollar bills.

It can be said that in the bleak autumn wind of the economic crisis, it is China and the United States, the two major economic powers, that have carried the banner of the gold standard, given a little warmth to the world economy, and maintained the crumbling international monetary system.

But in China, it's a different story.

Yang Chao returned to China in October to promote the establishment of the National Development and Reconstruction Office, and a month later, he had recruited 20 million employees and formed a professional team, including a large number of engineers from the China Railway Corporation, a team of engineers from Siemens, and a large number of professors and graduating students from Beijing, Shanghai and Tangshan Jiaotong University.

More than a dozen major water conservancy, power grid and railway projects have been launched that have long completed exploration and design work, and it can be said that for employment, the autumn wind seems to have blown and is not so cold.

However, Shanghai's financial market has become extremely strange, and customers who used to line up to go to the bank to exchange cash with paper money sometimes deposit a large amount of money in the bank to exchange gold yuan coupons and exchange gold. Sometimes gold is exchanged for silver. In short, there was a long queue at the door of the bank again, and the market was extremely disordered.

[It's about to be 515, I hope to continue to hit the 515 red envelope list, and the red envelope rain will be able to give back to readers and promotional works on May 15. A piece is also love, and it must be better! (To be continued.) )