Chapter 975 Start the Money Printing Machine
The construction of the submarine power transmission cable relocated from Angga Island to Malaysia is already halfway through. The submarine cable in Australia has already started construction. The submarine power transmission cable from Singapore to India has also entered the project preparation stage.
As planned by Jiang Chen, the global power grid plan is progressing smoothly and orderly.
It's just that because of the accident in Europe, Jiang Chen had to end his trip early and return to China. The first batch of countries to join the global power grid list of Transwarp Trade lacked the name South Korea.
But none of this mattered, and it was impossible for Jiang Chen to travel all over the world for these submarine cables.
When other countries see the benefits of importing electricity from Singapore, they will naturally come to negotiate with them.
At that time, it will not be a buyer's market, but a complete seller's market.
Promoting the development of electrification in society, significantly reducing the cost of industrial electricity consumption, improving the energy structure, and reducing the environmental burden of thermal power generation... These are all tangible benefits, and Jiang Chen also believes that most countries will not turn a blind eye to this.
After returning to China, the first thing Jiang Chen did was to convene the shareholders meeting of the New Federal Reserve Bank and proposed a resolution with far-reaching significance for the new country.
Without any precious metals as a guarantee, the New Federal Reserve announced that it will issue a total of 1.4 trillion Singapore dollars in three installments in February, and put them on the market in batches in the coming year . And in the next five years, the new Federal Reserve will relax the restrictions on currency issuance to meet the needs of the market.
The market really needs it?
When Jiang Chen proposed this resolution at the shareholders meeting, there was an uproar at the meeting.
This is not printing money, this is simply opening the floodgates!
The people sitting here are all bankers and capitalists in Xinguo, and most of them have been directly or indirectly supported by the Future Group. Of course, many of them immigrated from other countries in the Commonwealth of Nations. After all, in history, this small island was once a British colony.
After hearing Jiang Chen's resolution, someone immediately stood up and raised objections.
"It's too messy! Xinguo's economy has finally stabilized, and printing money on such a large scale now will undoubtedly cause a large-scale depreciation!"
"It's not banknotes, it's foam!"
"What's the use of printing so much money? Apart from inducing inflation,
I can't see any benefit! "
"I have no objection to printing money, but the figure of 14,000 is simply whimsical! The total amount of currency we currently issue is only 17,000 Singapore dollars, and the currency circulation is less than 50 million Singapore dollars—"
"Are you messing around?" Standing in the venue of the New Federal Reserve's shareholder meeting, Jiang Chen looked around at the shareholders of the New Federal Reserve, "Everyone, our money in circulation is already close to one-third of the total amount of money, which means What? It means we have the strength."
"Bubble? I want to ask everyone, how much of our GDP is a bubble? Among the many businesses of the Future Group, which one is the first of the world's top 500 companies through real estate or financial speculation?"
"I would like to ask you, out of the 90 percent of GDP I contribute, how much of it is a bubble?"
With such a domineering speech, all the new Fed shareholders present are speechless.
As Jiang Chen said, 90% of Xinguo's GDP is directly related to the two companies Futureman Group and Xinghuan Trading, and the remaining 10% is basically indirectly related to the man in front of him.
After all, four years ago, the people on Panu Nine Island were still living a life of fishing and counting bananas. Today, more than four years later, they have not only built the longest-span undersea tunnel in the world, but even built an elevator into a synchronous orbit, and established a colony on the distant moon.
It can be said that everything in Xin Guo today is because of this man in front of them.
"This is one Singapore dollar, the currency of our new country." Jiang Chen took out a coin from his pocket, shook it in front of everyone, and slapped it on the table, "It will be five years at most. The currency of the whole world."
"Let's start voting directly," Jiang Chen left this sentence lightly, and glanced at all the new Fed shareholders present, "Let me see your courage and ambition."
Shareholders of the new Fed looked at each other and exchanged opinions in whispers.
Jiang Chen sat back in his seat and watched all this quietly.
About ten minutes later, the statistical results came out.
Looking at the numbers on the big screen, a smile appeared on Jiang Chen's face.
Except for 5 abstentions and 2 against, almost all voted in favor.
The continuous miracles created by the Future Group made the shareholders of the New Federal Reserve almost subconsciously make their own choices.
There is no need to doubt at all, is there?
...
The large-scale issuance of banknotes did have a certain impact on the exchange rate of the Singapore dollar, but because the newly issued currency was not immediately released to the market, the impact was quite limited. After all, the printed banknotes do not mean that they can be used immediately, but mainly have to enter the market circulation in the form of lending.
However, despite this, the banknotes have been printed and the news has been published.
A passive devaluation of the SGD seems inevitable to all?
The International Monetary Fund lowered the credit rating of the Singapore dollar, and the central banks of various countries have also made certain adjustments to the exchange rates between the Singapore dollar and their national currencies, causing the exchange rate of the Singapore dollar to record a large decline in a short period of time.
After the Singapore dollar depreciated for a period of time, Jiang Chen began to gradually exchange all the foreign exchange held by the Future People Group and Xinghuan Trading into Singapore dollars through the channel of Future People Bank. This includes the profits of major subsidiaries in industries around the world, including the contracts signed on the outer space resource development forum.
Even the foreign exchange that did not arrive in the account was sold by Jiang Chen to the New Federal Reserve in the form of a "loan".
This move, of course, could not be hidden from the eyes of other shareholders of the new Fed, but no one raised objections to it. After all, the decline of the Singapore dollar has been confirmed. At this time, it is undoubtedly a high-risk thing to exchange the foreign exchange in hand for the Singapore dollar in the short term.
Moreover, at the moment when the exchange rate of the Singapore dollar is falling rapidly, the new Federal Reserve also needs a large amount of foreign exchange reserves to stabilize the value of the domestic currency.
Buying when the exchange rate is falling means that Jiang Chen can use a small amount of foreign exchange to exchange a large number of pieces of paper called Singapore dollars from the hands of the new Federal Reserve Bank.
At this moment, central banks around the world are watching the show, watching how the new Fed will play itself to death, printing a bunch of useless scraps of paper, and ruining their own domestic economies. And estimate when the enterprises in Xinguo will go bankrupt because they can't afford the raw materials at the port, and then go to buy these endangered enterprises.
Just when everyone thought he was crazy.
Star Ring Trading suddenly published a resolution on its official website.
[According to the regulations on the development of space resources promulgated by the new country, in order to facilitate market management and taxation, Xinghuan Trading decided after an internal meeting: the signed contracts will not be affected, and from today onwards, including space elevator freight, cargo import and export settlement, etc. For business, the use of foreign currencies will be terminated for settlement, and the Singapore dollar will be the only currency for space resource transactions...]
-
(Double monthly tickets on the last day, brothers who still have tickets, don’t forget to vote~) (To be continued.) Enable new URL