The main purpose of hot money speculation is to maximize profits by using various relationships and resources, not limited to industries, regions and time. As long as it meets the profit requirements, it will become the object of speculation. The continuous outflow and inflow of hot money will completely increase its total amount, which has nothing to do with actual accumulation. Bankers and money capitalists often use hot money to engage in currency speculation in order to obtain huge profits. When this kind of speculation crosses national boundaries, the above-mentioned hot money is formed. [1] Hot money speculation-historical background 1, short-term capital that flows frequently internationally, with the purpose of chasing interest rate spreads or exchange rate changes, the most active part of international short-term capital is also called hot money because it moves around the world as frequently as hot money. 2. During the great crisis in 1930s, it existed in large quantities, which did great harm to the financial stability of some countries. During the crisis of the international monetary system at the turn of the 1960s and 1970s, there were also a lot of hot money wandering between hard currency and soft currency, engaging in foreign exchange speculation, which aggravated the turmoil in the international financial market. 3. Another meaning of hot money refers to a special form of short-term borrowing capital that appears in the process of reproduction. Usually, without any accumulation, this kind of liquid monetary capital can be formed by various pure technical means, such as the expansion and concentration of banking business and the saving of circulation reserve. In addition, some profits and other personal income can also temporarily form hot money. Hot money speculation-all views on hot money speculation 1, the National Development and Reform Commission (NDRC) issued a document saying that there are various indications that hot money speculation and illegal operators' manipulation of prices are the direct drivers of agricultural product prices. As soon as the words were finished, many netizens laughed, and it was hot money. Imagine that a few months ago, when garlic was just popular, the NDRC price department once said that it was all caused by hot money, and everyone should have a fire and sprinkle it on hot money. But the National Bureau of Statistics disagreed. They say that the price increase of agricultural and sideline products is mainly due to the weather and does not have the characteristics of investment products. There is no evidence of hot money entering yet. Sui Pengfei, inspector of the Department of Market and Economic Information of the Ministry of Agriculture, responded that hot money speculation is not the main reason for the price increase of agricultural products such as garlic and mung beans. 2. Several departments have their own opinions. What is the truth about the price increase of agricultural products? In the end, they quarreled as a bee, and the NDRC could not produce enough evidence to prove their theory of hot money speculation. Now the National Development and Reform Commission once again classifies the chief culprit of agricultural and sideline products' price increase as hot money, and its credibility may also be discounted. 3. If the price rise is really due to the speculation of hot money, then it is beneficial for NDRC to deal with hot money, which is not something that NDRC can do alone. It requires the joint efforts of the central bank, the China Banking Regulatory Commission and other financial management departments. However, if the price increase of agricultural and sideline products is not caused by hot money, then NDRC may fall into the whirlpool of public opinion that the relationship between supply and demand of agricultural and sideline products is not well adjusted. Hot money speculation-liquidity pusher 1 When it comes to excess liquidity, American economist McKinnon once put forward the proposition of China currency mystery. He believes that the growth of China's money supply in the past 20 years has far exceeded the economic growth rate, and the proportion of fiscal revenue to GDP has been declining, but it has not caused inflation. But if you look at the past ten years, the real estate in China has also increased more than five times in the past 10 years. The total market value of urban and rural housing is close to 100 trillion, accounting for about 290% of GDP. In 2065,438+00, the government resolutely curbed the excessive rise in housing prices, and the housing prices were basically stable, but money always went somewhere. [2]2. When the stock market and the property market are unprofitable, where will the excess RMB flow? In order to make profits, they will certainly look for scarce resources, such as pigs in 2008, mung beans in 2009 and garlic at 20 10, which have spread to the whole chain of daily necessities. Hot money speculation-prices have gone up 1. The National Development and Reform Commission (NDRC) has no detailed evidence to support the theory of hot money, whether for lack of confidence or other reasons. It's hard to draw a conclusion now. Let me give you a few examples to illustrate the role of resource product price increase in promoting the overall price increase. 2. The most obvious is the price of refined oil directly controlled by the National Development and Reform Commission. Some time ago, the price increase of No.93 gasoline was accused of ignoring people's livelihood at high prices.