Wang Feng's understanding of Yale College made Rong Hong a little surprised, and then said: "I obtained a double degree in law and finance from Yale College, I don't know if Commander Wang can take a fancy to it." ”

"Huh?" This time it was Wang Feng's turn to be surprised, finance?

Wang Feng handed over the notebook and asked, "You take a look first, how much can you understand the content inside." ”

Rong Hong took a look at it, first of all, it was a big headline: the organization and functions of the central bank, and then the detailed rules of 12345, some of which were very clear, and some of which were very ambiguous, and he couldn't help but use the financial knowledge he learned in the United States to corroborate with it.

After a while, Rong Hong put down his notebook and muttered: "The concept of central bank you proposed is very different from the central banks of European and American countries, and the European Central Bank is still a private commercial bank in essence, and only assumes part of the central bank functions you proposed.

I take the Bank of England as an example, the Bank of England does not have the sole right to issue currency, nor does it undertake the business of transferring and canceling the creditor's rights and debts between commercial banks, and the final settlement of bill exchanges, still less can it accept the rediscount of bills from commercial banks, or act as the lender of last resort to commercial banks, and it also operates its own banking business while issuing currency.

In addition, the central bank of the United States is also extremely unstable, and in history, there have been the first and second banks of the United States, which attracted strong opposition from the beginning of the negotiation.

First Bank's mission was to help the states of the United States issue bonds to pay off the debts accumulated during the Revolutionary War, while it also kept the Treasury Department's deposits and handled the federal government's financial receipts and expenditures. Opponents fear that such a national bank would have a competitive advantage over other banks, creating a monopoly. And the bank goes beyond the federal government's authority under the U.S. Constitution and weakens the power of state governments.

Although Hamilton, then US Secretary of the Treasury, pushed the crowd out. The First Bank of America was established in Philadelphia in 1791, but Congress only approved a twenty-year term of operation.

When the 20-year period expired, because Europeans held 70% of the shares in First Bank, the Americans feared that First Bank would evolve into a tool for European financiers to control the United States, so Congress did not approve it to continue depositing, and the first central bank of the United States came to an end.

In the years that followed, due to the Anglo-American War, the state banks of the United States fell into chaos in order to restore order to the banks and deal with the war debts. The United States established the Second Bank, but it still had a commercial rivalry with the state banks, which attracted widespread opposition, and twenty years later, it inevitably repeated the mistakes of the First Bank.

At present, there is no central bank in the United States, and the financial market is laissez-faire, and any state bank can issue dollars as long as it has gold reserves. At this point, similar to the British banking system.

The difference between your central bank and Europe and the United States is that it has the exclusive right to issue currency and does not participate in market operations. It only bears the powers and obligations of commercial banks, which is more like a government agency, which is the formulator, manager and supervisor of rules. ”

Calm Hong's mouth. Wang Feng learned that the U.S. banking system is actually equivalent to China's money banking system, but with a larger amount of capital. The service is more perfect, and the system is more sound. As long as private individuals have the power to issue money, they will inevitably participate in market operations, and it is impossible to form a central bank in the true sense, even Britain is only slightly better.

It seems that he is at the forefront of the times, in Wang Feng's mind, the tall image of the European and American banking system collapsed, and he was suddenly full of confidence, you know, the perfect banking system is more than the imperfect banking system, the advantages are obvious, this is equivalent to one side is the regular army, with a steady stream of logistical support, the other side is the guerrillas, just a few bullets, the fight is gone, in the future financial war, there is a central bank endorsement of the Chinese bank has an inherent advantage!

Wang Feng nodded and asked, "In your opinion, which is better or worse between a central bank like mine and the central banks of Europe and the United States?" ”

Rong Hong didn't dare to slack off, thought about it seriously, and then said: "Which is better and which is inferior cannot be generalized, it should be the difference in national conditions that determines the respective central banking system, the United States is a highly free society, pay attention to free competition, the government does not interfere in the market, and the federal government has limited power, and the executive power is shared by the state government, and the state government has always been vigilant against the federal government, worried about being taken away from power."

Let me make an analogy, to paraphrase in China, the situation in the United States is equivalent to the Spring and Autumn Period, the state government can be regarded as the candidates, and the federal government is Zhou Tianzi, and now Zhou Tianzi wants to set up a central bank to control the fiscal power and prohibit the candidates from issuing currency again, do you say that the candidates are willing? So the road to a central bank in the United States is extremely long, unless the federal government is strengthened, but at least for now, I don't see any hope.

As for the Bank of England, it was originally established to serve the British government, and the United Kingdom is not a federal system in the United States, it is a centralized country, so its central bank, although not as perfect as the system you have developed, is much stronger than the United States.

In the long history of our China for thousands of years, the purpose of monetary policy is only one, both for the emperor to collect money, there are no laws and regulations, and there is also a lack of constraints, it is completely arbitrary, as long as the emperor's money is not enough, he will change the way to issue paper money from the people to extract money, so from another point of view, China's monetary policy and banking system are a blank sheet of paper, or it can be said that stereotypes and bad habits are everywhere.

In this case, if you want to establish a banking system and bring the financial industry into standardized management, it is not feasible to learn from the loose system of Europe and the United States, and there is no other way than to take a strong medicine, your central bank is a strong medicine, from the source to check the gates, with rules and regulations to clarify the obligations and powers, so that all market entities are clear about what they should do and what they cannot do, as long as the central bank does not abuse its power, I believe that China's banking system can achieve rapid development within five to ten years, which should be the most suitable path. ”

"Good!" Wang Feng laughed and said: "Tell me again, is our Chinese economy a complete copy of the free market economy of Europe and the United States, or is it more appropriate to carry out limited regulation and control?" Let me first explain that the so-called regulation and control is not the government's use of administrative means, but the adjustment of monetary policy by the central bank according to economic figures, or the government's formulation of industry-specific tax increases and reductions to stimulate or inhibit the development of a certain industry. ”

Rong Hong looked at the central bank's monetary policy column, and said in a deep voice: "I have been in the United States for a few years, the American economic chaos is to know some, often a project to make money, there will be a lot of funds rushed in, enough to release the profits in a short period of time is very thin, not only overdraft the future development potential, but also because of repeated construction, resources can not be effectively utilized, resulting in a great waste, when the short prosperity passes, only a vacant equipment plant will be left."

What's even stricter is that investors don't know that the market environment has changed, and they still go forward and rush forward, and the result can only be that a lot of investment is wasted, and they will end up with no return and ruined families, and even due to blind release of goods, which will lead to bank bankruptcy, and the blood and sweat of many families will come to naught in an instant, affecting the bank's reputation.

Of course, the development of the big wave of sand can certainly dig out the gold and gravel, maybe there will be a few huge industries in the cruel competition, but the price paid is too great, and it is too tragic!

Looking back, although the Qing Dynasty's political suppression was extremely cruel, it was actually very similar to the United States in terms of economy, and it was an extensive development, and now you let go of the shackles and advocate democracy, and the enthusiasm for private investment will inevitably be high, and as an individual, you generally can't get enough information from the macro level, and when the phenomenon of blind investment occurs, it will inevitably bring about serious losses, so it is necessary to be guided by the government, and appropriate regulation is necessary, which is relatively mild and in line with China's national conditions. ”

As he was talking, Rong Hong suddenly asked, "Commander Wang, may I ask if this central bank is from you?" ”

Wang Feng said indifferently: "I'm idle and have nothing to think about, and then according to the situation abroad, I have come up with some plans, do you think there is a problem?" ”

Rong Hong immediately bowed deeply and said sincerely: "Commander Wang's foresight is admirable, as for the problem, it will be known only when it is put into operation, and it can be gradually adjusted in practice." ”

Wang Feng is more satisfied with this Rong Hong is more and more satisfied, the answer is like a stream, the thinking is not rigid, the ideological rigidity referred to here is not backward and conservative, but not superstitious to the West, because Rong Hong has received Western education since he was a child, compared with the ignorance and backwardness of the Qing Dynasty from the perspective of the West, ordinary people are easy to have a completely negative mind, and Rong Hong can look at the problem objectively, which is quite commendable.

Could it really be that the Buddha rewarded himself for purifying Buddhism, knowing that he was short of people, so he sent a top American student?

"Hehe~~" Wang Feng waved his hand with a smile: "You sit down first, you are willing to serve the country, I welcome it, but what about your work and nationality?" In our government, foreigners can only serve as advisers, I hope you can understand. ”

"This" Rong Hong rubbed his head: "I can write a letter to the Guangzhou Consulate and resign as a clerk, but nationality, I'm afraid I need the help of the commander-in-chief to re-naturalize in China." ”

The Qing Dynasty did not establish a modern state system, so the Qing Dynasty people only had household registration, and they were far from nationality, the Democratic League had not yet established the country, and nationality was impossible to talk about.

Wang Feng squinted his eyes and thought for a while, then said: "I can only wronged you first, in the next three to five years, when we build a country, I will negotiate your nationality issue with the United States, and now, I officially appoint you as the president of the preparatory plan for the central bank of China, responsible for the preparation of our central bank." (To be continued......)

ps: Thank you for reading the monthly pass that didn't fall into the enchantment~~~~