Chapter 938 The purpose is to issue non-sovereign currency for international trade
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Just when the three of them were about to go home, Ye Zishu received another call from the central bank, asking him to go over to discuss some issues again, which was a bit unexpected to him.
They had discussed it the day before, but it turned out that just one day later, he was asked to discuss it again, indicating that during this period, people from the central bank had an urgent discussion on this matter.
He knew that he would definitely be looking for this matter again, but he didn't expect it to be so soon. He thought that he would have to wait until the Chinese New Year at least before he could come to a conclusion. It would be more meaningful for him to come and discuss it at this time.
The trip of the three of them was postponed due to this matter, Ye Zishu asked Pei Qing and Ye Ziqi to take advantage of this time to go shopping, but they had to bring security personnel with them.
He came to the central bank early the next day. He did not expect that the people who attended the meeting were earlier than him, and different from the last time, there were many more people attending the meeting this time.
"In the past two days, we have focused on the issue of currency internationalization, and agreed that although my country's economic aggregate is currently the largest, per capita income is also rapidly increasing.
However, it is not possible to accelerate the pace of RMB internationalization, and we have carefully considered the negative impact of currency internationalization and other problems brought about by a more open financial system.
In particular, my country's financial system is still far behind the international financial system. If it opens up too quickly, systemic risks will easily arise. "The leader said bluntly.
This was actually said to Ye Zishu. At the meeting the day before yesterday, he discussed the pros and cons of currency internationalization. In fact, the current state of our country does not have a high demand for currency internationalization.
The reason is that my country has a large population, a complete range of economic categories, and overall technology has been greatly improved. The economic foundation is very solid, and the currency remains stable. There is no need for currency internationalization to solve some problems.
As for the old m who likes to use the currency's international status to cut the wool of the world, our country has no such interest for the time being. After all, the nature of the country and the character of the nation are completely different.
Most importantly, Ye Zishu also mentioned the disadvantages brought about by the internationalization of currency, that is, the financial system is very developed, causing other industries to gradually become hollow.
And the foundation of a country is obviously not based on financial development, but on advanced manufacturing and other real industries. Without these financial developments, it would be a castle in the air.
The reason is that currency internationalization, especially to achieve the level of internationalization of the US dollar, must maintain an appropriate deficit, otherwise there is no way to export currency to countries around the world.
Adopting other methods for currency internationalization will be much less efficient and cost more. The set that Mr. M is currently playing is actually the most efficient and the lowest cost.
my country is a country with a very developed industrial manufacturing industry, and its agricultural production technology is currently leading the world.
Energy is no longer dependent on imports, and there is always a limit to the annual input of minerals.
How to export our currency to the outside world will be a very difficult problem. We can't abolish our martial arts, transfer a large number of industries out, or just eliminate them.
If it is only for currency internationalization, it is completely unnecessary. As for the so-called low-end industries, they can still survive in China with the blessing of advanced artificial intelligence technology.
All in all, we can neither want to have all the industrial systems in our hands, but also want to internationalize the currency and maintain financial independence. These cannot be done together.
Ye Zishu was afraid that people would not believe his statement at the beginning, because at present, old m's manufacturing and technology fields still maintain a certain degree of advancement, but our country is catching up from behind, which makes it not as dazzling as before.
According to the current situation of the old m, they did not see the serious disadvantages brought about by the internationalization of the currency. Instead, they saw that they can obtain global commodities at extremely low prices and enjoy the dividends brought about by the internationalization of the currency.
There are always people who only see thieves eating meat, but they don't see thieves being beaten. It's just that the time for old m to be beaten is not yet there, but there are obvious signs of it, and previous lives have gradually proved this point.
If a country's currency wants to be internationalized, it means that it must provide public goods to the world, including maintenance of international trade order, economic development foundation, systematic division of labor and cooperation, etc.
In order to maintain such a huge system, high costs need to be paid. For example, maintaining the international trade order means maintaining a high military presence.
Maintaining the foundation of economic development means that resources that are beneficial to the development of the global economy, such as technology and energy, must be exported to the world, which means that technology will gradually be lost.
When it is strong, people think that backward countries will not be able to catch up, but when a country has internal problems, this kind of thinking becomes ridiculous, and a country cannot remain strong forever.
Internal conflicts and problems are often the most difficult to solve, and they will definitely be accompanied by negative impacts such as turmoil and strife, which will affect the economy, trade, people's livelihood, scientific research, etc.
Moreover, the longer the game is played, the greater the harm may be. After the winner is determined, it is estimated that it will be difficult to restore the glory of the past, especially for countries with insufficient motivation for the development of endogenous civilization.
Of course, the old m is not so kind, and he only benefits others but not himself. The reason why such an international trade system is established is that they have a small internal population and it is difficult to maintain a huge industrial system.
Coupled with technical reasons, when the per capita rate reaches a certain level, it will be difficult for backward industries to maintain, because the cost will not occupy an advantage, and it is not cost-effective to barely maintain.
If they have advanced artificial intelligence and automation equipment in their hands, Ye Zishu believes that they have never thought of leaving excuses for other countries, and they probably took all of it themselves.
That is to say, for various reasons, they have to rely on a wave of financial tides to collect taxes from all over the world, because if they do not collect taxes, it will be difficult for this system to last for a long time.
Their allies are also willing to give blood transfusions every once in a while in order to maintain the stability of the system, because overall, they also benefit a lot from it.
As long as the other party is not overly greedy, they are still willing to receive regular blood transfusions, but this will not solve the problem for a long time. When more serious problems arise, they will have to suck more blood.
When everyone can't bear it, that is when the whole system falls apart. When building a system, we should not only look at the present, but also look at the long-term.
It is also based on this view that he believes that the internationalization of sovereign currencies needs to be cautious, but international trade cannot be separated from a unified settlement currency, otherwise trade costs will be too high, which is not conducive to global economic development.
So he thought about launching a non-sovereign international currency, using gold as an anchor to let it generate basic value, otherwise it would be a piece of waste paper, and other countries would not recognize it.
Then, after a series of calculations, each country can reasonably obtain an appropriate amount of such international currencies to use in international trade and promote global economic development.
The ability of a country to obtain such international currency is related to the scale of the country's output value and the value of tradable goods, which involves complex economic calculation rules.
This type of international currency with basic value is purer than the current international monetary system, and other countries do not have to worry about being cut off by countries with international currency status on a regular basis.
As for whether he will be worried about this special international trade currency issuer cutting the wool, he believes that some people will definitely be worried, but they will not be so worried.
The reason is that this kind of currency is not a credit currency. It is linked to gold behind it and has considerable value in itself. If you are afraid of cutting wool, you can completely exchange it for gold.
Ye Zishu didn't speak after hearing this, and acted as if he was listening attentively, because he really didn't like to comment. This is the national level's view on something.
He has already said what he should say, and you can't say that your analysis is correct. It is not his turn to affirm the result of the other party's discussion, not to mention that it is in line with his ideas. You just need to listen quietly.
"This time I invited Mr. Ye over again. I mainly want to ask a few questions and answer our doubts!" The leader continued.
When Ye Zishu heard this, he thought about it in his mind and knew what he probably wanted to ask. In fact, it was nothing more than a few doubts, and it was not difficult to think about it.
"If I can tell, I will definitely tell the truth!" Ye Zishu said.
I didn't expect Ye Zishu to say that. Could it be that there are some secrets that can't be told to them? The leader always feels weird.
"Since Mr. Ye said so, then I will continue. The first question is why do you have the idea of establishing such a currency system?" the leader said.
After finishing speaking, the other participants all looked at him. Most people really don't have such a bold idea, and the establishment of such a trading currency system seems to do more harm than good.
Even though they can extract seigniorage by the way, in fact, in order to maintain this system, they also need to pay a huge cost. There has never been a thing in the world that just takes advantage of it without paying.
"The starting point is actually very simple, that is to establish an international trading system that is free from the restraint of a certain country, so that every country can develop trade relations on an equal basis and achieve economic and people's livelihood development.
The above is the final thought. In addition, with the development of our country's economy, our country will inevitably occupy an important position in the global economy, which is not subject to human will.
The international trade currency is in the hands of other countries, which will seriously affect the development of my country's global trade and must be resolved.
I also thought about promoting the internationalization of my country's currency before, but you should also be aware of the disadvantages. There is no free lunch in the world, and you will inevitably pay something while enjoying it.
Obviously, in the state of our country, if we pay in this way, the disadvantages will far outweigh the benefits. After all, our country has a large population, and it is not possible to sit back and relax simply by relying on a few high-tech industries.
It's not easy to feed such a large country, you have to do everything you can to keep everyone in their place, and obviously internationalizing our currency is not a good strategy.
That being the case, we can only jump out of the existing international currency theory, creatively put forward the concept of non-sovereign currency, and get rid of the problems caused by sovereign currency as an international currency.
In the foreseeable future, in order to maintain its economy, Mr. M will definitely issue currency more recklessly and let the world pay for its economic development.
This is not a good thing for countries that hold a large amount of US dollars and US dollar treasury bonds, and it will also disrupt the international trade order and cause global economic chaos.
Before the other party goes crazy, we must make relevant preparations in advance, and this non-sovereign currency international trade currency is prepared for this.
Of course, there are many prerequisites for raising this non-sovereign currency to an international currency. First of all, everyone must recognize that holding this currency for a long time will not become worthless.
This requires this non-sovereign currency to have a firm value anchor. I plan to link this currency to gold and issue gold currency.
The second is that it needs to be recognized by everyone in international trade, thinking that getting this currency can be used for commodity transactions in international traders.
This is not difficult at all. my country itself is a major participant in international trade, and it has the most abundant varieties of trade, with both cost advantages and technological advantages.
As long as our country recognizes that this non-sovereign currency can be traded, more than half of the success will be achieved. If we unite with countries that have close trade relations with us, the situation can still develop in the direction we expected.
But before that, we must prevent someone from jumping over the wall in a hurry, or even launching a war, so we must be prepared accordingly.
Most likely, I think they will unite their so-called allies to decouple our trade and economy, and then they will play their game and we will play our game.
However, I think this idea may not be realized, because the current international trading system itself is not equal, and their allies may not always be willing to depend on others.
Moreover, international trade itself is intricate, and you have me in you. If you really want to decouple, the price you will pay will be very high.
I don't think their allies are willing to give up their own interests for the benefit of their big brother. Small benefits are possible, but if they do so, the loss will not be a little bit. "
Ye Zishu not only stated the purpose of his doing so, but also whether he was able to meet the conditions. Of course, the support of the state is also needed.
If they rely on themselves, it will be much more difficult to implement. After all, the bank under Tidal Investment Company is just a commercial institution, and it does not have many capabilities.
This is why he explained things in such detail, just to let some people see the opportunities inside, although it seems that there is no connection between the two.
It seems that the country didn't get any benefits from it, but only helped the tide group under his banner to develop. In fact, it was not the case. Things should not just look at the surface, but a longer-term perspective.
"Just now you mentioned that the banks under the Tidal Group issue gold currency, how do you ensure that there is enough gold to handle the payment.
The previous currency was linked to precious metals such as gold and silver. As a result, you should also know that the gold currency cannot be maintained, and the limited gold cannot sustain the huge global economic development needs. " asked the leader.
This leaf book must be clear that the disadvantages of the gold currency are obvious, otherwise there would be no credit currency, because the gold currency cannot adapt to the needs of the development of the times.
"What I'm going to say about the source of gold, I hope everyone present can keep it a secret!" Ye Zishu glanced at everyone present, and said slowly.
Hearing what he said, the people present were taken aback for a moment, and then they also looked at the people present, and then the leader named a few people to stay, and the others went out for the time being.
Those who can stay should be absolutely reliable people. In fact, Ye Zishu didn't intend to keep this secret forever, because it couldn't be kept at all.
After all, this matter is done in China, and it is impossible to completely conceal it. Not to mention it now, he also plans to communicate with the higher-ups when it is actually in operation.
After the others went out, the leader said, "Can we talk now?"
"Actually, it's not an absolute secret. If I don't say it now, I plan to find another opportunity to talk to the leaders. After all, this matter is considered a big one." Ye Zishu said with a smile.
"Oh! Then I need to listen!" The leader said with a smile.
"You should know that Kirin Energy Industry Group is building a thermal radiation energy absorption field in the Taklamakan Desert. Once completed, it will generate up to trillions of kilowatt-hours of electricity every day.
Part of the electricity produced here will be used to send water from east to west, which will consume about 10 trillion kilowatt-hours of electricity every year. How to consume the rest will be a major problem we face.
The electricity that cannot be produced is wasted, which is a bit wasteful. We are a thrifty nation and have no habit of wasting.
So a series of researches were carried out on how to consume energy. Not long ago, a high-energy-consuming and high-value technology was finally developed, which is to use these electric energy to produce precious metals such as gold. "Leaf Book said.
All the people present were shocked when they heard him say that, because in their cognition, how could it be possible to turn other things into gold, and only in mythology can there be a little way of turning stone into gold.
"It's not convenient for me to say the technical principle, but I'm sure that this technology already exists and will be used soon!" Ye Zishu emphasized.
Hearing him emphasize it again, the leader finally recovered. They still heard about Ye Zishu's scientific research ability, otherwise his industry would not be able to develop so fast.
Regardless of technical issues, they chose to believe his words for the time being, and then a leader asked: "If this technology exists, how much gold can be produced in a year, that is to say, how much electricity is consumed per gram of gold?"
Because according to their cognition, the production of gold must be transformed from an element with abundant reserves to gold element, that is, nuclear fusion technology.
From the nuclear fusion of light elements to heavy elements, a huge amount of electrical energy will be released, but starting from iron elements, the subsequent nuclear fusion process can absorb energy, because this process adds extra mass.
Regardless of the fact that there are more than 360 trillion kilowatt-hours of electricity every year, which is too much to consume, if we really engage in energy-absorbing nuclear fusion, it is actually not enough, and the output will not be particularly high.
"I won't say the specific principle, but I can be sure that it is not using traditional nuclear fusion technology, but a brand-new technical principle that has not been discovered.
According to the experimental results, only 1,000 kWh of electricity is needed to produce 1 gram of gold. If all the electricity is used to produce gold, the annual output will be close to 360,000 tons. "Leaf Book said.
When Ye Zishu said 360,000 tons, all the people present were petrified, as if they were trying to figure out whether there was the word 10,000 in what he said.
After waiting for about a minute, a leader finally came to his senses and asked, "Are you sure the gold production is 360,000 tons?"
Ye Zishu nodded and said with a smile: "I'm still young, my memory is fine, and the numbers I said are also fine."
Hearing him say that again, the leaders present glanced at each other and said, "If this is the case, there is no problem in issuing gold currency."
According to the performance of gold prices in the past two years, the value of such a huge production capacity is as high as more than 100 trillion yuan. If currency is issued based on these gold, it is equivalent to releasing more than 100 trillion yuan of base currency to the market.
Despite the fact that my country's economy is so developed, there are actually not so many base currencies issued. International trade itself is you and me. The base currency does not need to be particularly large, and currency hedging will be realized after the transaction.
Such a huge amount of gold will be enough for the whole world in the foreseeable future, unless the interstellar civilization is really developed in the future, and the population of human civilization will reach hundreds of billions, which is obviously impossible for the time being.
And it is certain that elements like gold are not common substances in the universe, and their formation requires very harsh conditions. Even in the interstellar civilization, gold still has a very high value.
They didn't ask how to achieve it. First, they were not technical personnel, so they might not understand it if they asked. Second, they also knew that Ye Shu would definitely not talk about it, so it would be useless to ask.
I did not continue to dwell on this topic, and called the people who went out just now to continue the meeting. Since gold is not a problem, this non-sovereign currency has enough anchors for issuance, and it has the basis for global issuance.
"The non-sovereign currency you plan to issue is mainly paper currency or digital currency?" After the leader and others arrived, he asked again.
"We are going to issue all digital currencies and no longer provide any paper currency. There are several reasons. The first point is that digital currencies have lower transaction costs, better circulation, and are more conducive to promoting the development of global trade.
In fact, if digital currency is also used in China to replace paper currency, it will also greatly promote the development of domestic commerce, and at the same time have other additional benefits.
The second point is that it is more difficult to forge. We have no sovereignty and many capabilities. Once there is a large-scale counterfeiting of currency, we can only accept it. Obviously we don’t want to be taken advantage of.
The third point is that you can better control the trade situation of various countries, and you can know the details of international trade, which is conducive to the analysis of relevant data, and you can avoid potential risks in advance or formulate countermeasures.
The fourth point is that it can effectively combat international illegal trade and promote the healthy development of global trade, which is of great benefit to more and more forms of international crime. "Leaf Book said.
There must be many other benefits, such as the formation of an international banking system with banks under the Tidal Group as the core, but there is no need to mention this kind of thing.
