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Reprinted from 622007907 at 18:18 on December 19 2010 Reading (loading. ..) Comments (0) Category: economic relevance
text / end Hongbin
successive years of growth in China's foreign exchange reserves, but even most of those dollars to buy U.S. Treasury bonds continued to lend U.S. consumers go. So few people have asked: We are still a poor country, why is the government so much money to lend to a rich country to spend? Rather than the people in their head? Voice hardly ever, those who think that economic experts who have been through immediately came out and said: do not use foreign exchange reserves are at home on the grounds that it 啦 ... ... it said a lot of friends. They spoke, he despised the look of exposed mouth seems to be saying: economics thing, you do not blind small people blending,
la gear light, or a little more than read the book go. These so-called people think Economics is also justifiable, because they read in the economics textbooks in the never say to the problem. A poor country even by spending so much money to the rich countries,
la lights, which took place in the history of no teaching materials in nature do not have to talk.
Let us put aside these economic dogma, to the most simple common sense to ask the question: China's foreign exchange reserves, people really can not be used in the head? Really can only buy U.S. Treasury bonds it?
economic experts say that can not be used in the domestic foreign exchange reserves, the reason is not domestic wages, it can only go looking for the central bank into RMB wages, purchase of raw materials, buying villas, mistresses and so on. Get the dollars the central bank becomes its own foreign exchange reserves, while the release of the RMB equivalent. If you want to use those dollars in the country, it means that one must exchange the RMB, which is impossible. This seems really foreign exchange reserves can not be used in the country has.
but I want to tell you is that these experts play a small trick, as his own rigid thinking, but rather substitution of the important concepts. First you all that forget about complicated economic terms, money is the nature of IOUs, for example, by paying your labor, the money earned 100 U.S. dollars, equivalent to 100 dollars of social owe you something, so you can took the 100 dollars to the market in exchange for other goods or services of equal value. Chinese people now through their own hard work, earned more than two trillion U.S. dollars of the money (ie reserves), so he can ask others in the market to provide two trillion U.S. dollars of goods or services, the money simply is not necessary for into RMB.
I'll give you an analogy, Joe Smith John Doe 2 million dollars owed, it connotes no money, so he gave John Doe hit a 2 million IOU. So John Doe holds this IOUs should run to Joe Smith. But now suddenly pop out a brick house, he said that this IOU is not used in the John Doe family, because John Doe's wife took this IOUs buy daily necessities. Nonsense! I certainly know that John Doe took his wife could not put IOUs, but I go to John Doe Joe Smith, who let his wife go to John Doe. I write to you the sorrow I feel a sudden, some of China's own brick home in addition to Huyou people, are there any other skill it?
Let me tell you how to spend the people's heads these reserves, which can not only spend money, but also a variety of ways.
1, setting up sovereign wealth funds to buy commodities such as gold, oil, iron ore, nonferrous metals, coal, soybeans. To lend money to companies to enable them to invest in the development of African and Latin American countries, mines and oil fields. Wait for China to control the increasing number of basic resources, then the domestic inflation rate will be greatly eased, or the other you have to passively accept the offer lightly.
2, spent part of the guarantee of foreign exchange reserves, foreign currency equal to all the people issuing coupons how to spend the people want to let him how to spend. Can you hold them the vouchers to buy foreign goods, or directly to foreign travel, if you do not want it,
la gear originals, you can sell in the market, people who want to sell.
3, buy foreign exchange reserves in the overseas listed Chinese red chips and domestic B-shares, we all know, our stock is sold to foreigners Sale at breakdown time, when people are crazy to sell price . Now we do not play, and to buy back these stocks are then placed under the social security accounts, dramatically reducing the burden on ordinary people's social security, so that people pay all the money into his own personal account, while the social pooling account the full commitment by the State . You can also set up an international version of the A shares, to attract overseas companies listed in China.
4,
la gear on sale, elimination of all forms of export subsidies, we really do not need to earn dollars and subsidies to those hot foreign consumers, the Chinese government not to subsidize the Chinese consumers, but to subsidize foreign consumers, is this not a traitorous behavior or what?
American aircraft carrier fleet has moved into the Yellow Sea, but we continue to buy U.S. treasury bonds,
la gear footwear, to know that the U.S. military spending last year was 612 billion U.S. dollars, while U.S. Treasury bonds held by you is $ 846,700,000,000, This is equivalent to have a rapist in rape your wife, but the rapist actually eat the Viagra is to use your money to buy (he want to eat Viagra, in fact impotence), even worse, is also A group called Brick House have argued that the beast: a rapist can give you to buy Viagra to increase the GDP, pull your employment. If this is not cheap, I do not know what is cheap,.
100 years ago, the Qing government signed with the powers of numerous unequal treaties, the Sino-Japanese 6.4 times earnings, the Japanese got the money immediately to arms expansion, which led directly to repeated invasion of Japan after (the money because the Japanese think the Chinese people stupid.) Shall we buy U.S. treasury bonds to support U.S. military, I do not see any difference between the two. To say there are differences, then there are some exceptions, that is the heart and do not want to give money to the Qing government, in good faith but we now want to buy U.S. Treasury bonds, a group of animals called the Brick House argued that: with our foreign exchange reserves to buy U.S. Treasury bonds, is the most secure investment.
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