Chapter 97: 97

"Hello, everyone. Mynameisdavidgao. Iwork..." Gao Xian first calmly introduced himself, and then saluted David Rockefeller: "Dear Mr. Rockefeller, thank you for giving me the first opportunity to ask questions."

"As we all know, after the end of the Second World War, the Bretton Woods system was established, and the official price of gold was $35 an ounce."

"At its peak, the gold reserves of the United States exceeded 24 billion US dollars, accounting for more than 70% of the world's total gold reserves."

"However, with the revival of the Western European economy, the rise of the first economy, the repeated outbreak of the dollar crisis and other changes in the current situation, the gold reserves of the United States continued to drain, and by the year before last, they had dropped to about $12 billion."

"Dear Mr. Rockefeller, my question is, when do you think the Bretton Woods system of $35 an ounce of gold will end, or exist in name only? And how should our investment avoid the risk caused by the depreciation of the US dollar?"

As soon as Gao Xian's voice fell, the participants in the audience straightened their backs and looked at David Rockefeller on the stage. They were all excited, "this problem is hot enough!"

David Rockefeller was ready to take a drink and moisten his throat. But when Gao Xian threw a question, he gently put the cup back.

It's not easy to answer this question, even if it's at the level of David Rockefeller.

David Rockefeller thought in his heart and said with "American humor": "is your name David, too?"

Gao Xian pretended not to understand, nodded and said, "such a bad street name will not offend you."

David Rockefeller continued to bluntly say, "your question is very interesting and carefully lists the data."

Gao Xian nodded innocently again and muttered in his heart, "if it weren't for worry, the CIA might stare at me, and I could list this year's data."

When Guo Bowei, the financial secretary of the Hong Kong government, who was sitting next to David Rockefeller, saw this scene, he was very happy. He took a sip from his cup and immediately felt that the virtual fire had disappeared and his internal organs were very cool.

Hum, you know the dilemma!

When David Rockefeller came to Xiangjiang this time, Guo Bowei, an important official of the Hong Kong government, deeply felt that Xiangjiang's "God of wealth" was really bad to be, and the pressure increased sharply.

It's not hard to imagine that David Rockefeller could not help pointing fingers at the current economic situation of Xiangjiang because of his explicit and implicit interest demands.

"Xiangjiang's environment is famous for its freedom, but in my opinion, it's empty."

"You see, Singapore, which is located in Asia, does not levy interest tax on US dollar deposits, while Xiangjiang has always levied 15% interest tax on foreign currencies other than sterling."

For such things, Guo bowed his head and bowed down. He could not argue. Don't mention how much he was oppressed.

You know, in his tenure as the financial secretary of the Hong Kong government, the financial policy formulated by Guo Bowei for Xiangjiang is "laissez faire" and has been unswervingly implemented.

In this case, is the environment of Xiangjiang not free enough?

This is not a bone in an egg!

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In the final analysis, this has nothing to do with whether the economic environment is free or not, but a conflict of interest.

Since the outbreak of the first dollar crisis after the end of the Second World War in 1960, the loss of gold reserves in the United States has accelerated significantly, and the dollar has been depreciating against gold.

Under the Bretton Woods system, the governments of various countries need to cooperate with the government of the United States to maintain the official price of gold of US $35 an ounce in the international financial market; The governments of other countries, according to the gold content of their respective currencies, determine the exchange rate between their own currencies and the US dollar, that is, implement an adjustable fixed exchange rate.

According to the provisions of the International Monetary Fund Agreement, the exchange rate of the currencies of Member States against the United States dollar can only fluctuate within 1% of the statutory exchange rate.

If the market exchange rate exceeds the fluctuation range of 1% of the legal exchange rate, governments are obliged to intervene in the foreign exchange market to maintain the stability of the exchange rate.

If the legal exchange rate of a member state changes by more than 10%, it must be approved by the International Monetary Fund.

Now, influenced by the economic revival of Western Europe, the economic rise of China, the trade deficit of the United States, the mire of the Vietnam War and other factors, the de facto depreciation trend of the US dollar against gold is irreversible.

The Bretton Woods system requires other Member States to maintain a fixed exchange rate between their currencies and the US dollar.

This has virtually led to an asymmetric financial system. People outside the United States will find that their hard-earned money is used to support the living standards of Americans and subsidize the performance of American multinational corporations.

It's impossible for anyone to accept this squeeze!

Moreover, Xiangjiang itself is still in the surviving pound Economic Zone, which is equivalent to having two "landlords and old wealth" on his head.

Therefore, Guo Bowei appreciated David Rockefeller beside him, saying "American humor" and thinking about the problems thrown by the high string, not to mention how refreshing.

Hum, it depends on your answer. When will the damn Bretton Woods system die!

Of course, David Rockefeller would not give such an obvious timetable for the collapse of the Bretton Woods system. After playing a few words and delaying for a while, he had no choice but to get to the point and vaguely said: "The US dollar is indeed facing great devaluation pressure, but I don't know what further countermeasures the US president will take based on the interests of the US."

Well, this "pot" was thrown to the president of the United States by David Rockefeller.

David Rockefeller should also feel that his answer is too easy to deal with, so he changed the topic and continued to follow Gao Xian to play "American humor", "young man, you are so concerned about the prospects of the Bretton Woods system. Are you going to invest in gold?"

Long expected that David Rockefeller would be evasive in answering questions, he asked with a naive smile, "Mr. Rockefeller, do you think this investment strategy is feasible?"

"Very creative and bold." David Rockefeller nodded. "OK, young man, I remember you."

Speaking of this, David Rockefeller continued to change the topic and asked the next Xiangjiang Financial Secretary Guo Bowei, "as far as I know, Xiangjiang is still controlling gold?"

To Guo Bowei, who was with him, he quickly hid his excitement, nodded and replied, "yes, indeed."

……

Bow to thank Yangzhou gangsters, o good, and the floating clouds in the sky for their reward!!

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