Reborn Capital Madman

Many of the participants were still focused on business and urged the agenda to start quickly. After all, in the current context of panic and everyone making plans, it is really precious that everyone can come to the venue to discuss.

The focus of the agenda is that it is time for the Hong Kong Banking Association to take action. There is no objection to this, but how to specifically raise interest rates to reflect the banking industry's support for the Hong Kong dollar?

The result of the current discussion is to increase the interest rate of savings deposits, but the relevant range has different interests and considerations. One percent seems to be insignificant and meaningless, while two percent seems too high. Each bank has concerns about whether to make a compromise.

Give it a try at 1.5 centimeters... In short, you can't be sure for a while that you are afraid of wolves and tigers behind.

When it was the turn of the highly anticipated Sir Gao to formally express his position on behalf of the Hong Kong Banking Association's Chairman Yongli Bank, as well as members of the Group of Banks including Koyi Bank and Hong Kong Bank, the atmosphere at the scene began to be filled with the smell of gunpowder again.

Because Sir Gao's words were rare and sharp, "I think how much the savings deposit interest rate is raised actually reflects how much confidence the banks with Hong Kong dollar deposit business have in the Hong Kong dollar. If even the banks lose confidence in the Hong Kong dollar,

Do we still expect businesses and people to accept and use Hong Kong dollars?"

"In this case, everyone is more inclined to raise interest rates by 1.5%. It is really just the most basic statement."

"However, I don't think that this measure will achieve any actual results after it is introduced, because when the Hong Kong dollar is facing the crisis of collapse, the Financial Secretary, on behalf of the government, makes a decision and announces an interest rate increase, which has real credibility."

At this point, Sir Gao became excited, banged the table, and raised his voice, "I still don't understand why the Financial Secretary hasn't taken any measures to stabilize the Hong Kong dollar since the situation of the Hong Kong dollar has collapsed to such a shocking extent.

measure?"

"He is trying to do what he wants! At present, signs of commercial establishments refusing to accept Hong Kong dollars have begun to appear. Has the Financial Secretary forgotten that Hong Kong dollars are the legal currency of Hong Kong? The exchange rate of Hong Kong dollars against the US dollar has fallen below 8. Why does the Financial Secretary refuse?

Consider new monetary policies to adapt to the new international financial situation?"

At the end of the sentence, Sir Gao's eyes fell directly on the face of Financial Secretary Peng Lizhi, which clearly meant, can you do your job?

Financial Secretary Peng Lizhi, who was mentally prepared, controlled his emotions, glanced at Huifeng's senior classmate Shen Bi, and signaled him to speak up quickly to combat Gao Xian's arrogance.

Unexpectedly, Shen Bi seemed unaware, lowered his head, and looked at the documents with relish.

Financial Secretary Peng Lizhi was even more angry, you old cunning guy, you can't count on others, so what if you do it yourself! He met Gao Xian's gaze and counterattacked in a strange way: "Sir Gao's accusations against the government are almost the same as those of China.

Exactly the same.”

Sir Gao sneered, "Don't use big hats. If you are upright, you won't be afraid of the shadow. What we are discussing now is, has the Financial Secretary fulfilled his duties? Can we prevent everyone from losing their pants?"

Financial Secretary Peng Lizhi looked around the conference room and found that the Zhengzhi card was indeed useless. Everyone here, who has never seen the world, how could they be fooled by big hats? Sir Gao's attack now reflects the aspirations of the vast majority of people, saying

What is the Hong Kong government's plan? Is it really going to turn Hong Kong's prosperity into a bargaining chip that threatens everyone, regardless of life or death?

In the face of everyone's gaze, Financial Secretary Peng Lizhi lowered his eyes, and Daluobo defended without blushing: "Xiangjiang's economic achievements benefit from the long-term non-intervention policy pursued by the government. The Financial Secretary is also following this successful experience.

."

Sir Gao burst into laughter, "Seeing that the ship is about to sink, and we are about to be drowned, does it make sense to hang any flags? What's more, isn't there more and more consensus on the non-intervention policy?

Should we also add a positive attributive?”

"Everyone here, who doesn't know the law of changes in time and change of things, and the principle that when poverty leads to change, change leads to prosperity? If you are really so conservative and dogmatic, then you are really not qualified to be the Financial Secretary!"

At this point, the Financial Secretary Peng Lizhi could not maintain his gentlemanly demeanor and immediately retorted: "Sir Gao is so righteous, but Gao's banking group has purchased US dollar assets in large quantities, which has increased the pressure on the Hong Kong dollar.

?If we really need to investigate, the responsibility is not small!"

"That's not because the Hong Kong dollar exchange rate is out of control and customers' demand for asset preservation, including foreign exchange swaps, has surged." Sir Gao shot back with a calm face: "Everyone is acting in accordance with the rules designed by the government from the top.

, where is the mistake? Now, the situation has changed drastically, and the Financial Secretary should adjust the mechanism in keeping with the times, instead of being dogmatic and inactive, and euphemistically saying that he follows the tradition of non-intervention policy."

With these words, Gao Xian completely shied away the possible responsibilities for the "self-protection" and "self-interest" actions of himself and others in the current Hong Kong dollar crisis, and the problem of the Hong Kong government's inaction became more and more serious.

protrude.

Financial Secretary Peng Lizhi still had sense and knew that he could not take the risk of public outrage and attack a large area. He was speechless and quickly changed the topic: "I know that Sir Gao's real purpose in creating pressure on me so aggressively is

It is nothing more than urging the government to adopt the improved currency board system that you have been planning for a long time and experimented on a small scale."

"It is undeniable that this improved currency board system has been carefully optimized by many world-class economic experts. It is very complete and highly operable, but is it really suitable for Hong Kong?"

At this point, Financial Secretary Peng Lizhi fully displayed the airs of Hong Kong's "finance man" and made an in-depth analysis, "Sir Gao will not deny that the prerequisite for the success of this improved version of the currency board system is that a large number of

For Hong Kong, the foreign exchange reserves are sufficient to provide protection. That is enough foreign exchange funds.”

"But the reality is that the size of the Exchange Fund is only a few billion US dollars, and Hong Kong's currency issuance m3 this year exceeds HK$300 billion. Once the Financial Secretary decides to stabilize the Hong Kong dollar exchange rate at a specific level, it will inevitably attract international foreign exchange

With the continuous impact of speculators, Sir Gao thinks, how long can the Exchange Fund withstand the consumption?"

Not to mention, Financial Secretary Peng Lizhi's remarks in an attempt to prove that he was not a fool also caused many people at the scene to nod.

Sir Gao didn't buy it, "You are just theoretical analysis that avoids practical action and stays on paper. The current situation we are facing is that if we don't take action, the Hong Kong dollar will become waste paper, and it's very close to our eyes."

"In fact, Hong Kong's foreign exchange reserve capacity is not limited to the Exchange Fund. Once the improved currency board system is adopted, it will first attract banks to spontaneously arbitrage interest rates and quickly establish the first firewall to stabilize the Hong Kong dollar.

"

"There are many other practical operations like this. Since the Financial Secretary feels that he is not competent, I am willing to share the burden and form an independently operating Exchange Fund Management Committee to ensure that in five years, the assets of the Exchange Fund will exceed US$30 billion, in order to stabilize the Hong Kong dollar. , escort!”

"What, you want the Exchange Fund?" Financial Secretary Peng Lizhi was immediately dumbfounded. He knew that Gao Xian was ambitious, but he never expected that he would target the Exchange Fund.

The reaction of other participants was similar. They were so surprised that they broke their lenses on the floor. Among them, Shen Bi, the senior manager of Huifeng Bank, was thoughtful. It turns out that Gao Xian’s true purpose is here...