Chapter 1038: 1038

You know, the post of president of the Xiangjiang monetary authority, which is about to be upgraded from the Xiangjiang exchange fund authority, is almost readily available to Sir Gao. He perfunctorily made a sincere exchange with a future central bank governor. His friendship is as thin as paper.

Therefore, in the end, Greenspan took out the kind of free speech he had when discussing problems with Sir Gao before he became chairman of the Federal Reserve and replied: "in fact, since the founding of the United States, although Jefferson doctrine has the upper hand on the surface of economic policy, hamiltonism has always been an option for decision-making."

Jefferson and Hamilton mentioned in the words of the new chairman of the Federal Reserve are the two founding fathers of the United States - Thomas Jefferson and Alexander Hamilton. The former is the first Secretary of state of the United States and the latter is the first treasury secretary of the United States.

If you remember the names of complicated and boring historical figures in the most impressive gossip way, Alexander Hamilton is the one who dueled with then US Vice President Aaron Burr and died of gunshot wounds.

In short, in the economic field, Thomas Jefferson and Alexander Hamilton contend with each other. The former believes in the "invisible hand of God" to dominate the economy and let it go, that is, the small government model; The latter created a new model of strong state intervention and economic development, namely the Daejeon government model, which objectively enabled the new American country to take off rapidly. Its spirit can be found in Roosevelt's new deal after the great depression, the Star Wars plan launched by Reagan now, and even the rapid economic recovery and rise of Japan and South Korea after the end of the Second World War.

At the inauguration ceremony, Greenspan stated that he would curb inflation like former Federal Reserve Chairman Volcker. From Volcker's experience in performing his duties, this is a work involving more and more fields. Laissez faire and inaction will never work.

Sir Gao's private communication is to further and more specifically explore Greenspan's principles. Of course, the most important thing is to pave the way. After all, it will take some time for Greenspan, the chairman of the Federal Reserve, to establish his prestige in the international community. It is nothing more than the card of Mitty. It will only take a short time, but in this short gap, it is enough to become a key variable in the game of exchange rate and interest rate in the international capital market.

At this time, Greenspan really gave the answer of "do it when it's time to do it", which made Gao Xian very satisfied.

Then, there may be a question: is it abrupt for Sir Gao to be bearish on the US stock market during his discussion?

I can't really talk about it. The reality is that many American elites have been a little trembling about the current hot stock market. Taking a look at the Dow Jones index, we can easily understand this mentality.

During the global economic recession in the early 1980s, the Xiangjiang stock market did not recover until 1985 because of the special climate in Xiangjiang. However, the American stock market began to rebound as early as the second half of 1982, and the Dow Jones index returned to more than 1000 points.

At the end of 1985, when the Plaza Agreement was signed, the Dow Jones index hit 1500 points for the first time; Just a year later, at the beginning of this year, the Dow Jones index hit a new high, reaching 2000 points; Not finished yet. Only six months later, the Dow Jones index broke another record and stepped up to 2500 points.

In this carnival, the pain left by the bloody lesson of the Great Wall Street stock market disaster in 1929 filled the market with the argument that "there will be a major adjustment soon"; Many analysts on Wall Street also joined the ranks of approval with reference to historical data, thus forming a very obvious pessimism.

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There is even no shortage of American financial elites. Combined with the analysis of variables such as the degree of economic prosperity, inflation, trade deficit, fiscal deficit, interest rate, exchange rate and the yield of American national debt, they predict the time of "there will be a major adjustment soon" to the end of August and the beginning of September.

In addition, the chaos in the US capital market in recent years, such as the illegal acts of Ivan boski and Michael Milken, have begun to be investigated by the US judiciary, which virtually provides a just reason for this pessimism; The film "Wall Street" launched by Paramount this year has achieved a good harvest of both box office and public praise, which caters to the current general social psychology.

In this context, sir Gao also worried that the US stock market "will have a major adjustment soon" in his private discussion. It is normal to choose one of many views.

Gao Xian naturally followed this logic and continued: "at present, the linkage degree of the global stock market is unprecedented. Due to this new situation, I'm afraid that once there is a major adjustment in the American stock market, it will quickly spread in the international market like the fallen dominoes."

This inference is quite novel. Only when Gao Xian has mastered enough resources and gave full play to the ability of the golden finger of information, can he be so sure of the new trend of global stock markets to lose and prosper, and let Greenspan hear it in his heart. Changing into ordinary people is at best a novel point of view.

From this, Greenspan can naturally taste the natural motivation of Gaoxian and his inner goodwill.

Sir Gao will become the head of Xiangjiang's new central bank and will certainly pay attention to the possibility that Xiangjiang's stock market will be dragged down by the American stock market; The performance of the US stock market has a subtle importance to today's Fed chairman.

To put it bluntly, during his tenure as chairman of the Federal Reserve, Greenspan's predecessor Paul Volcker implemented monetary tightening policy with an iron fist, which exacerbated the recession of the US economy from 1981 to 1982. It is not too much to describe it with public resentment. However, this year Paul Volcker retreated bravely, and the response of the outside world was also successful, not thanks to these years, The stock market in the United States is booming, with a handsome man covering a hundred ugly people.

With this jade, Greenspan, who, like Paul Volcker, takes curbing inflation as his most important work goal, is sure to make the U.S. stock market jump during his term of office.

No matter what time, a true friend is valuable.

Feeling the goodwill from Sir Gao's reminder, Greenspan temporarily put aside the rules of being the chairman of the Federal Reserve and sincerely said: "after going to Xiangjiang so many times, I can see that your environment is extremely complex. If you need support, I won't be stingy as long as possible."

"The burden of your Federal Reserve chairman is much heavier than mine. You can't be distracted." Sir Gao smiled. "In fact, I mainly want to know as much as possible. In the free market of Xiangjiang, what kind of central bank intervention will not lead to the disgust of water and fire."

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