Reborn Capital Madman

ps: Happy New Year!

…

Obviously, the debate surrounding the improved currency board system and the independent operation of the Exchange Fund advocated by Sir Gao will not be able to reach a definite conclusion at the meeting of the Hong Kong Banking Association.

Anyway, the detailed operation of how to raise interest rates in the banking industry in Hong Kong has been worked out in detail. Without delaying the business, it was just a wonderful show for free. Therefore, after the meeting, except for the parties involved in the quarrel, everyone had a look on their face. There was a faint mysterious expression, and the steps were hurriedly going their separate ways.

It is completely conceivable that a big "melon" about Sir Alex Ko and Financial Secretary Peng Lizhi's mutual quarrel will inevitably be presented to the public through the media soon.

Financial Secretary Peng Lizhi took a few steps to catch up with Shen Bi, Huifeng's chief executive, and asked the other party why he had not kept his promise to help him suppress Gao Xian's arrogance at the meeting.

As a result, Shen Bi replied calmly, "I suddenly feel that it is more important to understand Sir Gao's true intentions."

Financial Secretary Peng Lizhi was so angry at Shen Bi's backbiting that he pointedly reminded: "Don't forget, our positions are the same."

Shen Bi sighed softly, "Although Zhengzhi negotiations can continue to be tough, as you just saw, the reactions of the representatives of various banks can't hide their resentment."

Financial Secretary Peng Lizhi couldn't help but sarcastically said: "I'm afraid Hui Feng is about to waver."

Shen Bi glanced at the Financial Secretary Peng Lizhi and said, "I would also like to remind you that you should carefully consider your situation. Sir Gao obviously made a disconnect between you and the Financial Secretary and the government, and just accused you of inaction. Dereliction of duty, if you still want to keep your position as Financial Secretary, you really need some skills."

Upon hearing this, Financial Secretary Peng Lizhi became even more angry, "Others don't know it, but you don't know it? Why did I do that? I wasn't acting in accordance with London's wishes!"

Shen Bi smiled meaningfully, "Sometimes, finding someone to take the blame is a tacit understanding between all parties who want to calm down the situation."

Looking at Shen Bi's back, Financial Secretary Peng Lizhi felt a little cold. This possibility seemed to really exist. Speaking of which, the position of Financial Secretary of the Hong Kong Government has always been selected from senior civil servants, and he was a senior executive from Swire. "Airborne" to the Financial Secretary, it can be said to have set a precedent, and it will inevitably arouse people's concern. Who knows when he will be pushed out as a scapegoat.

…

It is unknown to the outside world why Financial Secretary Peng Lizhi started to have complicated thoughts. However, the Hong Kong Banking Association acted quickly and quickly announced to the public that starting from the next day, it would increase the deposit interest rate by 1.5%, that is, the savings deposit rate will be 7%.

As Gao Xian expected, this measure had no actual effect on stabilizing the Hong Kong dollar exchange rate. The Hong Kong dollar exchange rate continued to fall. At most, it only helped those small and medium-sized Chinese banks that had just emerged from the banking crisis and temporarily stabilized people's hearts. .

Under such circumstances, the news of the public quarrel between Sir Alex Gao and Financial Secretary Peng Lizhi is particularly eye-catching.

Regarding the media gossip, Financial Secretary Peng Lizhi relied on his status and ignored it. Sir Gao, who was the first to launch the attack, did not respond directly in public. However, a small matter still caused the public to quarrel openly between Sir Gao and Financial Secretary Peng Lizhi. Interest is extremely high.

Lee Lee Bank announced that it has just accepted a collection donated by Sir Gao. It was Hong Kong's first one-Hong Kong dollar note that was published in 1935. Its number is a001. Sir Gao had previously invested HK$50,000 and acquired it from a London collector.

Purchased everywhere.

According to the introduction of the bank to the public, this one Hong Kong dollar note is of extraordinary historical significance because it was in 1935 that the Hong Kong government abolished the use of silver dollars as banknote issuance reserves and instead used gold and other foreign currencies as banknotes.

Reserve, that is, Xiangjiang entered the period of pound exchange standard.

On December 6 of that year, the "Exchange Fund Ordinance" came into effect. According to its regulations, the three note-issuing banks in Hong Kong, Hui Feng and Standard Chartered, must pay the equivalent amount of pounds sterling to the Exchange Fund when issuing new banknotes.

In exchange for a statement of liabilities issued by the Exchange Fund, the exchange between the note-issuing bank and the Exchange Fund is based on a fixed exchange rate of one pound to sixteen Hong Kong dollars.

This was the basic form of the currency board system that was popular in the British colonies and protectorates at that time. The pound exchange standard in Hong Kong, except for the outbreak of the Pacific War during the Second World War, the country that occupied Hong Kong

It operated for a few years until July 6, 1972, when the Hong Kong government announced that the Hong Kong dollar would be decoupled from the British pound.

The "Bank Note Issuance Ordinance" that came into effect at the same time stipulates that Hong Kong dollar banknotes issued by Hui Fung, Standard Chartered, and Hong Kong are the legal tender of Hong Kong.

In addition, the "One Dollar Note Currency Ordinance" was promulgated, and the Hong Kong government authorized the then Secretary for the Treasury to issue one dollar notes and two cents and one cent coins to maintain the supply of small denomination currencies and avoid sudden deflation that would affect the financial system.

market stability.

The one Hong Kong dollar note numbered a001 donated by Sir Gao to the Lee Lee Bank was the first one Hong Kong dollar note issued by the Hong Kong government at that time.

…

The media had already been digging around for the public quarrel between Sir Gao and Financial Secretary Peng Lizhi. After learning about the news that was beneficial to the bank, reporters immediately swarmed to the showroom to see the first Hong Kong dollar one in Hong Kong.

banknotes.

In this regard, the bank arranged special personnel to receive it patiently, and even Chen Zuze, the dignified general manager of the bank, took time out of his busy schedule to personally provide an on-site explanation.

Naturally, a reporter curiously asked, Sir Gao spent HK$50,000 for Hong Kong's first one-Hong Kong-dollar note. Does this mean that this one-Hong Kong dollar issued nearly fifty years ago is equivalent to the current Hong Kong dollar of 50,000?

If this is the case, it would be simply breathtaking!

Chen Zuze was amused, "The 50,000 Hong Kong dollars reflect the collection value of the collection, such as historical significance, etc. According to Gao Yi's calculations, based on actual purchasing power, this one Hong Kong dollar issued in 1935

, which is approximately equivalent to more than 400 Hong Kong dollars today; of course, if the Hong Kong dollar continues to depreciate like this, its corresponding purchasing power will also increase accordingly."

…

Only a portion of journalists have financial majors, and not all of them may have an accurate understanding of the real world of finance. In addition, everyone is rushing to publish news, so many specious and eye-catching reports began to pour in.

For example, the Hong Kong dollar depreciated four hundred times in less than fifty years. There were even reporters who specifically went to find grandparents in their 70s and 80s to verify the situation back then, and the answers they received without exception were that the money at that time was

So valuable.

Anyway, people are now concerned about the depreciation of the Hong Kong dollar. As long as newspapers have relevant reports, they will be sold out. No matter whether it is true or false, right or wrong, just publish it. This makes serious people dumbfounded, but more ordinary people are stimulated and have no interest in the Hong Kong dollar.

The exchange rate has become more and more sensitive, and naturally people are paying more attention to it. Why are Sir Gao and the Financial Secretary Peng Lizhi quarreling? What are they arguing about?