Just like detonating a bomb in a downtown area, it has aroused strong repercussions from all walks of life, especially the financial and even economic circles. However, at the top of the economic circle, the mainstream media in Chinese mainland completely avoided and remained silent, and the website also deleted a large number of comment posts. described below
Under the subprime mortgage crisis, two mortgage institutions in the United States, Freddie Mac and Fannie Mae, are about to go bankrupt. Among the foreign creditors of Fannie Mae and Freddie Mac in the United States, the first one is actually country C.. A * * * holds bonds involving these two companies as high as $376.3 billion, accounting for about 2 1% of China's total foreign exchange reserves. The international economic community called it an incredible scandal.
According to national data, since 2004, the US bonds held by country C have been growing at a high speed, with an astonishing threefold increase from 2004 to 2007, reaching $922 billion. From 2006 to 2007 alone, the American bonds held by country C increased by 66%. On the eve of the US subprime mortgage crisis, country C is still stubbornly increasing its holdings of US bonds. Who on earth has the right to deal with the huge foreign exchange reserves of country C so crazily and buy American bonds like dementia?
India, as a big Asian country, has objective foreign exchange reserves, but India holds only $23 million in Fannie Mae and Freddie Mac bonds in the United States. People mean that the 376.3 billion in country C is actually 16000 times that in India, which is almost 3 trillion Hong Kong dollars. Being in the "two rooms" in the United States like this is completely incredible!
The internationally recognized principle is that the recognized principle of foreign exchange reserve investment is safety first and diversification is appropriate, but the financial authorities of country C invest more than 20% of their foreign exchange reserves in the United States, which is equivalent to putting most of their eggs in one basket. When the Asian financial turmoil broke out, the property market in Hong Kong and Southeast Asia collapsed, resulting in "negative assets", which both owners and banks suffered greatly, indicating that mortgage itself is very risky and its derivative bonds are even more dangerous.
You can't just focus on one basket. This is the golden rule of common sense in financial management and investment. The investment principles of foreign exchange reserves are safety first, stability first, scattered proportion and diversified structure. However, our lovely officials, the black sheep of Guojia Foreign Exchange Administration, Finance Department and Bank of China C, are all masters and doctors!
At this point, the people of country C have no face to laugh at India! Call him Sam. He is almost a big boy. Who is the scourge of country C? No, this is a heavy blow, it has become the laughing stock of the world!
I have always been dissatisfied with the grand party and opening ceremony, and the things I paid people to see deserve such a good face as never before. It is more important than anything to see your weaknesses and worries clearly and to repair the fatal hole that you may be caught by your opponent as soon as possible!
In my opinion, the exposure of this financial scandal has dealt a great blow to the economy of country C and the confidence and spirit of the people, and can almost offset a lot of other achievements that we advertised ourselves. This is by no means a general problem, or even a major mistake! You can't use the concept of mistake, just call it "killing people"! Behind it is the nature of serious dereliction of duty+strategic espionage!
What are the economists in country C doing? Who finally benefits from the policies implemented under the influence of the so-called mainstream economists and who is in deep trouble? Those original shares of banks that "advocate attracting overseas strategic investors to make big profits and sell them cheaply"; What are economic experts doing to vigorously launch the overseas listing of high-quality large enterprises or state-owned monopoly enterprises in country C and generously distribute dividends ten times that of overseas financing? Who are their details and true identities?