Currency War 1 Reading Experience
As an economics major, I recently read Currency War written by Song Hongbing. Closing the pages, we can't help feeling the long history of economic development and the depth and breadth of the world economic system.
This book shows a picture of the biggest conspiracy theory in the world. After reading this book, I seem to see through the conspiracy in the world. A world financial history is a conspiracy history that dominates human wealth. Although economic development and transactions between countries are a game full of intrigue, "soldiers are cunning." But I don't believe that our own life was deliberately planned by others.
In the development of history, there are different opinions about the origin of money. Some scholars believe that money is generated by transactions, while others believe that money is generated by religion or weddings. Moreover, I think money is produced by trading, which may be an economic activity longer than our human civilization, so a deep understanding of money can help us learn finance better.
In the book, Mr. Song Hongbing thinks that the function of money is the unit scale of economic activities. In other words, every time you pay a unit of labor, the height of the final output is just like the constant unit such as kilogram, meter and second, which will not change with time or space.
This leads to another point in the book-gold is the ultimate representative of wealth, and the gold standard should be restored. Because since ancient times, only gold and silver have been recognized by everyone, and their value will not change with time or space. Ancient China was a typical silver standard country, while many western countries were gold standard countries. Marx once said that "gold and silver are not money in essence, and money is gold and silver in essence". Precious metals such as gold and silver can be recognized as currency in circulation because money itself is a unit for hoarding wealth, and precious metals such as gold and silver are almost eternal carriers, so they naturally become the most liquid assets.
Although it is almost impossible for the world to return to the gold standard now, the dollar now plays the role of gold, although it is not as stable as gold. The dollar can assume the position of world reserve. Teacher Song Hongbing believes that it is because the United States has the largest market in the world, which is also a necessary condition for realizing currency hegemony. To develop the national economy, the most fundamental thing is to develop social productive forces. Only by increasing social productive forces can we maintain economic development for a long time.
Teacher Song Hongbing gave an example of why it is much higher to spend a holiday in first-tier cities such as Beijing and Shanghai than in the mainland, because these places have higher productivity and more savings, and real estate is a substitute for wealth hoarding. Because of the improvement of local productivity, everyone's wealth accumulation has increased, which has also made the surrounding land prices appreciate, leading to rising house prices. At present, there are many views in the media that economic growth can be promoted by stimulating consumption, but the real economic growth is due to the improvement of productivity. Without the improvement of productivity itself, all economic growth is unrealistic. Stimulate the improvement of productivity, reduce production costs, more inventions and more supply. When these more goods or services appear on the market, it will stimulate the corresponding production in other aspects. This exchange between products and products and services is consumption, and only economic growth can promote the growth of consumption.
Therefore, to develop the economy, it is necessary to develop social productive forces, improve production efficiency and reduce production costs, which will also become the learning goal of my economics major. The glorious history of future economic development should not be drawn by business tycoons, but should be written by our efforts.
Reading experience of currency war ii
After reading the book Currency War, people benefited a lot. The following is my thoughts on Currency War carefully compiled for you. Welcome to read for your reference.
As an economics major, I learned a lot from reading Currency War. The book describes the history of struggle between capitalist countries in modern times from a brand-new perspective. It can be said that this book is the best introductory textbook for learning economics and finance. It is also a must-read reference book for economists and governments.
First of all, as a book about the generation of money and the influence of activities, I have benefited a lot. Money has no country, only circulation. Money that does not circulate is broken copper waste paper.
When I read this book, the financial crisis was spreading around the world, and then I saw some interviews with Mr. Song Hongbing on the Internet. I admire him for foreseeing the outbreak of this financial crisis at the beginning of 2007, and it also caused me to think deeply about some problems in the financial field. For example, Mr. Song Hongbing's views on the financial crisis are mainly conspiracy theories, which I disagree with. In my opinion, the essence of this crisis is the financial crisis caused by "subprime mortgage", and the excessive innovation of financial derivatives amplified this "subprime mortgage" crisis and then evolved into a global financial storm.
The cyclical fluctuation of the real estate market in western countries was originally a normal market performance, but this time it triggered such a serious financial crisis, which is closely related to financial innovation. Lending institutions securitize their loans, convert them into securities products and then sell them to investment banks. Then, investment banks use "exquisite" financial engineering technology to package, divide and combine, transform them into new financial products and sell them to hedge funds and insurance companies. Under the banner of innovation, speculation is pushed to the peak wave by wave, finance is increasingly out of touch with the real economy, and the bubble of virtual economy is blown bigger and bigger by financial innovation. When the source of these innovative products-subprime housing credit assets have problems, the financial leverage effect will be amplified by ten times or even dozens of times, and the financial market will be violently turbulent.
It is controversial to say that the Fed and other bankers jointly seek to rule the world. The last round of hundreds of billions of bailouts by the Federal Reserve involved 10 European banks, and its influence spread all over the global financial market. Even the Nana Ogawa brothers should pay attention to this. If the Fed is privately controlled, it is also a capitalist Europe. Why didn't anyone say that the Bank of France, the Bank of England and the Bundesbank ... were all private. ! I think people are related to its public and private attributes because it has the right to issue money. In Hong Kong, the government has no fixed "central bank". It issues banknotes and entrusts them to the issuing bank. Similarly, if the Federal Reserve is understood as a note-issuing bank, can it be done? ! However, the Federal Reserve has the power of the central bank, such as setting interest rates and so on. In Hong Kong, bank interest rates are determined by their respective note-issuing banks; So if the Federal Reserve is not in the United States, but in Hong Kong, I wonder if it is owned by a private bank? ! Popularize some ideas, will all western banking systems be the same as those in Hong Kong? If so, the Fed will be a huge Hang Seng Bank.
For this book, a large number of great works in the prosperous period of history, they are all uncertain. Firmly deny all kinds of dark communication.
Reading experience of currency war 3
Recently, I was lucky enough to read Song Hongbing's book Currency War, and I felt quite rich. In a word, after reading this book, I, like everyone else in China, have a boiling passion at once, as if the plot picture of this world suddenly unfolded before my eyes, as if I could see through this plot world tomorrow. However, in any case, this book does show a different world.
I have read several books on financial history before, and learned about the non-monetization of gold, the rise of Morgan Bank, and the history of glass-steagall act's influence on the trend of international financial circles. However, this book shows the stories behind these histories naked in front of my eyes. This book tells us that in the 300 years since the Bank of England was founded, international financial capital forces can be seen behind almost every world revolution. They control a country's political destiny by controlling its economic lifeline, and control the flow and distribution of world wealth by inciting political events and inducing economic crisis. It can be said that a world financial history is a conspiracy history that dominates human wealth; A history of world finance is a history of the conspiracy of the Rothschild family.
I believe that no matter your age or occupation, after reading this book, you must be deeply impressed by this Rothschild family. As mentioned above, this book can be said to focus on how this "horrible" family started from Germany, then took control of the British economy, and then extended its tentacles to the United States, thus unifying the world economy. I don't know, have you ever heard the saying, "70% of the wisdom in the world is in the heads of China, and 70% of the wealth in the world is in the pockets of Jews." Anyway, this book just confirms such a Jewish proverb.
Think about it, it turns out that our life is so boring. Our brains are undergoing chemical reactions, and our wealth will never be in our pockets. Philosophers ask us what we are doing in this world. This book makes me understand that we are just walking step by step on the track paved by others. The world is a conspiracy! This conclusion makes us ordinary people not excited, not excited, and life is boring. Isn't this worse? So, young people began to fight back, and people read this book that revealed everything. However, after the excitement, let's think rationally. Is the world really like this?
The Reader once published an article about a reporter who went to Rothschild Bank in Europe after reading Currency War and had a small interview. The final result was disappointing-only a decadent former king took measures and opportunities. This is, many people began to refute. Some people say that this is just an investigation by a small reporter. How can the truth of the matter be like this? If the truth can be learned by reporters so easily, what's the conspiracy? That's true, but not necessarily. I don't think there is no conspiracy in this world. I don't think the Rothschilds really don't control politics. I just think this conspiracy is one of many.
According to the book, Rothschild Bank has a huge deposit of King William. According to the general interest rate, this money has brought Rothschild tens of thousands of times more wealth than Bill Gates. However, the author forgets that there have been so many financial crises since the birth of the Rothschild family. More importantly, in today's high leverage ratio, Rothschild's several operational mistakes have caused more than half of the wealth loss. Therefore, it is not easy for him to live to this day. If he is allowed to control such a behemoth as the Federal Reserve, it is really beyond his power. Think about it, how the giant Bahrain Bank fell, and everything will be much easier. In this world, especially in the world of money, it is impossible to control others without money. If you can, there is no need for a joint-stock company to exist. I wonder what readers think.
In fact, many conspiracy theories were widely known before Song Hongbing. Conspiracy theory usually refers to a statement that gives a special explanation to historical or contemporary events. This special explanation is different from the generally accepted explanation, that is, the event is interpreted as the result of secret planning by individuals or groups. Moreover, the extremists in this special explanation will further refute those widely accepted explanations and think that they are the cover-up of conspirators. We are familiar with conspiracy theories, such as Lincoln assassination, * * * Aid Association, Roseveare and so on. When they were born, they also caused a violent tsunami. But after all, it's just a guess. After a long time, only a few people will remember them.
Back to reality, our life can never be just someone else's conspiracy. In everyone's life, everyone is his own protagonist. So is our financial market. Compared with many years ago, today's financial market, especially the international financial market, has undergone tremendous changes. In the past, we could only use this money to buy stocks and borrow money from banks, and all risks could only be exposed to our opponents. Now, we have a European money market, we have swap transactions, and we have stock option transactions, which have given us countless investment methods, countless borrowing methods, and countless ways to avoid them. For example, in the past, if a company wanted to use a sum of foreign exchange next month, it could only borrow a sum of money from the bank one month in advance to exchange it, which was a terrible risk. But now, he can take the form of currency swap, through the bank, and another enterprise with reverse trading demand in the required foreign exchange country, and then get the needed money at the lowest risk and the best interest rate. We know that our financial world is rich and colorful, which can be said to be one of the most brilliant flowers in our human mind. And all this can really be planned by one person? If so, there is nothing God can do.
Finally, I still want to explain that although the book Currency War shows an extreme picture in the form of conspiracy theory, there are still many thought-provoking stories in this book. For example, Soros shorted the financial market in South Asia, which led to the collapse of Japan and South Asian countries. The author also warns us in the book that China is in a stage of rapid development. What Soros did to South Asia, Sloso can also be applied to China, bringing our economy to a sudden landing. Therefore, the warning in the book also needs us to take it seriously.
Our life is not a conspiracy, and a beautiful financial world is not a thick plan.
Currency War 4 Reading Experience
Recently, I was lucky enough to read Currency War edited by Song Hongbing, and I was a little scared. This is simply a bloodless war. I have read this book many times, and I seem to be inspired by the fact that RMB joined SDR last year: What is a currency war? Why should RMB be internationalized?
Napoleon once said, "When a government relies on bankers' money, it is the bankers who control the situation, not the leaders of the government, because the hand that gives money is always higher than the hand that takes money. Money has no motherland, financiers don't know what patriotism and nobility are, and their only purpose is to make profits. "Money has no national boundaries, which is a fact. As members of elite circles, the goal of international financiers is to build a global economy and a global government with a single currency. Naturally, they are not so generous. Their fundamental interest is that under this framework, they can maximize their wealth, so that they can enslave the world more conveniently and freely. After several generations of efforts, international financiers abolished currency nationalization and created various crises to obstruct it. From the plot of the American Civil War to the collapse of the Bretton Woods system, the dollar is their lever to tilt the world.
197 1 year, after the world monetary system was finally decoupled from gold, the purchasing power of national currencies was melting under the brilliant light of gold. An ounce of gold in 197 1 is worth $35 and will be worth $630 in 2006. In the past 35 years, the purchasing power of the Italian lira has fallen by 98% relative to the price of gold. 2%, the purchasing power of the pound dropped by 95. 7%, the purchasing power of the French franc dropped by 95. 2%, the purchasing power of the dollar fell by 94. 4% ..... When the inflation dollar is as cheap as toilet paper, when the United States can only "go bankrupt" and countries can only bear huge US treasury bonds, and when Britain and the United States finally use gold as the final form of currency to set prices, how should we deal with ourselves as inferior developing countries?
A rising world power, its solid cornerstone will not only be leading technology and powerful military. Only by establishing a monetary system and a financial system with universal credibility can we be in an invincible position among the nations of the world. Last year, RMB joined SDR, which is an event that can go down in history for China. The RMB will become the fifth SDR basket currency alongside the US dollar, euro, pound and yen. RMB's entry into SDR will be an important milestone for China's economic and financial integration into the global financial system, which will have a far-reaching impact on China's economy and trade and RMB exchange rate.
Firstly, the internationalization of RMB is expected to fundamentally reduce China's excessive dependence on foreign exchange reserves, greatly enhance the solvency and safety factor of China's balance of payments, and offset the risk of shrinking foreign exchange reserves to some extent. At present, China's foreign exchange reserves of US$ 3 trillion rank first in the world, which is conducive to maintaining China's international balance of payments, but the risks brought by its single structure are also great. Appropriately reducing the scale of foreign exchange reserves can reduce the losses caused by the depreciation of the US dollar.
Secondly, promote RMB settlement in international settlement, promote trade facilitation and reduce transaction costs. In the past, international trade was settled in dollars. After the settlement of US dollars, there will be forced exchange of foreign exchange, including the change of exchange rate. Taking oil trading as an example, because international oil transactions are denominated in US dollars, the prices paid by major oil consuming countries in Asia to import oil from the Middle East are generally higher than those paid by European and American countries to import oil from the same region 1- 1. 5 dollars/barrel. If international oil transactions are denominated in RMB, the transaction cost can be greatly reduced. China is a big country in import and export, so a small change in exchange rate will deal a fatal blow to many foreign trade enterprises in China. If RMB becomes the direct settlement currency of China's trade with other countries, China will easily gain the pricing power of international commodity transactions, and import and export enterprises will not have to worry about asset losses caused by exchange rate changes.
Third, as an international currency, a country's currency can not only obtain considerable seigniorage income, but also partially participate in the allocation of international financial resources. Under the credit currency circulation system, the cost of currency issuance and management is relatively low, and the governments of the world currency issuing countries can obtain seigniorage income similar to the money supply. The inclusion of a country's currency in SDR is similar to the inclusion of a stock in the stock index, and all institutions that invest in the stock index will passively allocate stocks. International organizations such as the International Monetary Fund, the Bank for International Settlements and the World Bank manage SDR-denominated assets, and these institutions will increase RMB assets accordingly. At the same time, loans and national liabilities of many international institutions are denominated in SDR. After RMB joins SDR, it will increase their allocation of RMB assets in RMB onshore market and offshore market. This has greatly facilitated China's overseas RMB direct investment and overseas investors' RMB direct investment in China.
There is no smoke in the currency war, and it is also a river of blood when you look down. If China wants to occupy a place in the competition and game of global financial resources, it must join the competition of currency internationalization. At the same time, we should also realize that currency internationalization will also bring uncertainty to the domestic economy. After the internationalization of RMB, China will also encounter "Triffin Dilemma", which makes it difficult to balance the international payments and stabilize the currency. In the process of promoting currency internationalization, it is a problem that our government must seriously consider how to exert its favorable influence on the domestic economy and minimize the unfavorable factors. It is believed that as long as we create conditions, strengthen our confidence in developing the economy and enhance China's comprehensive national strength, in the near future, the RMB will surely become a currency welcomed and accepted by people all over the world.
Currency War 5 Reading Experience
As a freshman in economics, I chose currency war from many books. Because I have only a superficial understanding of economic theory, I only glanced at the first book of this series.
Author Song Hongbing, 1968 Sichuanese, 1990 graduated from the Department of Automatic Control of Northeastern University; 1994 studied in the United States, majoring in information engineering and education, and obtained a master's degree from an American university. Long-term attention and research on American history and world financial history. After 1996, he worked in American media lobbying companies, medical industry, telecommunications industry, information security, federal government and famous financial institutions. Since 2002, he has been a senior consultant of Fannie Mae and FreddieMac, the largest non-bank financial institutions in the United States, mainly engaged in the design of automatic examination system for real estate loans, tax calculation and analysis of financial derivatives, and risk assessment of MBS (asset-backed bonds).
Currency War combs the history of the formation and development of the world financial oligarchy from a historical perspective, traces the role of the world financial oligarchy in major economic, political and social movements and its damage to the social economy, proves the profit-seeking nature of financial capital, and analyzes the ways in which financial capital uses the right to issue money to create inflation and deprive the general public of wealth. It is shocking and has a deep understanding of the history of world financial development.
International bankers establish central banking systems in the United States, Europe and other countries through various means, thus controlling the economies of the United States and other countries. In order to get a good harvest, inflation is the least discovered means. According to economic theory, inflation refers to the overall and sustained price increase in economic operation. The circulation of paper money exceeds the actual amount of money needed in circulation, which is one of the main reasons leading to inflation. In a certain period of time, inflation can increase some demand, thus stimulating production and causing false economic prosperity. However, the demand increased by issuing additional money is not real demand, and the contradiction between production and demand cannot be fundamentally solved without corresponding commodity guarantee. High inflation rate will not only disrupt economic order, but also endanger social stability.
International bankers demonstrate their unique skills. First, they vigorously issued credit, blew up a big bubble, and made people and other industries desperately create wealth, and then slammed on the credit brake, causing a large number of enterprises and people to go bankrupt. When the harvest season came, international bankers and their agents in the United States joined hands to tighten credit again, which led to the "1857 panic". "Money has no motherland, financiers don't know what is patriotic and noble, and their only purpose is to make profits", which is a sentence of Napoleon mentioned many times in the book. Fundamentally speaking, the American Civil War is a fierce competition between international financial forces and their agents and the US government for the right to issue US national currency. In the more than 100 years before and after the Civil War, the two sides fought to the death many times on the financial commanding heights of establishing the American central banking system. Seven American presidents were assassinated and many members of Congress were killed. straight
By 19 13, the establishment of the US Federal Reserve banking system finally marked a decisive victory for international bankers.
Using historical analysis, the author explains the financial mystery of the Asian financial crisis and the Japanese economic downturn in the last century, focuses on the operation mode of world financial capital, and puts forward the dangers faced by China. Whether there is conspiracy theory or not, I have to say that this book provides another perspective on the world financial structure. From 65438 to 0945, according to the Bretton Woods Agreement, the International Monetary Fund and the International Bank for Reconstruction and Development were established. In history textbooks, the purpose of the International Monetary Fund (IMF) is to stabilize the international monetary system, and its main task is to stabilize the international exchange rate and eliminate foreign exchange controls that hinder world trade. Promote international cooperation on monetary issues and provide short-term loans to member countries with temporary difficulties in international payments. The International Bank for Reconstruction and Development, also known as the World Bank (WB), was initially dedicated to post-war European economic recovery, and later turned to global development assistance, providing long-term loans and technical assistance to member countries. In the author's book, it reveals the additional condition that international bankers "help" developing countries "globalization", that is, privatization. More precisely, it is "bribery", which allows recipient countries to continue to take the three powerful drugs of capital market liberalization, market pricing and poverty reduction strategy-free trade.
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