Manhattan Reborn 1978

new York.

Manhattan, upstairs at Wildfire Bar on 42nd Street.

in the restaurant.

After David saw Bernard Madoff put down the tableware, he also put down the tableware, wiped his fingers and the corners of his mouth with a napkin, and smiled at Susan and Cui Yingying.

"Let's go to the study to talk about things first~"

"Ok!"

. . .

After a few minutes.

David sat behind the study table with a large glass of juice and made a gesture of invitation to Bernard Madoff.

"ok~"

Madoff, who was also holding a large glass of juice in his hand, sat across from David. He picked up paper and pen from the table. After thinking for a moment, he lowered his head and started writing~

----

Manhattan.

Hamlin District, in front of a bar on East 89th Street.

Under a series of constantly flashing neon lights, among a group of young black people wearing "fashionable" clothes, laughing and noisy, there was a short guy who looked to be in his early twenties, taking a deep puff of his cigarette and whispering.

"Hey guys, I know there are a few families in Queens just east of the bridge who are going to a party tonight, and the house is empty! No one!"

"Do you dare to vote?!"

"Um..?"

Several young black boys looked at me and I looked at you, but no one stood up first. .

The short young man looked around with a contemptuous expression, threw the cigarette butt on the ground, and sneered.

"No one is going?"

"Okay~"

"You guys, as cowardly as a mouse, how dare you brag just now...?"

"fxxxyou!"

"Are you sure there is no one in those houses, right!?"

"Of course!"

"I go!"

"Where's your car?"

"Over there~"

"Heh uh~"

"Bah~!"

A thin young black man spat fiercely at the "cowards" who were calling themselves brothers just now~

Following the short young man with a mocking smile on his face, he walked towards a broken car parked far away.

The few young people standing there lowered their heads and said nothing.

It seemed that an invisible flame was slowly growing out of their bodies~

"shxx!"

"Hey! What are you doing?"

One of the young men among them raised his head slightly, stared at the backs of the two people who were walking away, grabbed his companion who was about to chase them, and said with a frown.

"Don't be impulsive yet!"

"The two of them can't do much!"

"Let's follow them and go have a look..."

"If what that guy said is true, it won't be too late for us to take action~"

"..ok~"

"it is good!"

----

new York.

Manhattan, upstairs at Wildfire Bar on 42nd Street.

in the study.

After David put down the phone, he walked to the window, looked out the window and fell into thought.

Not far behind him, Bernard Madoff rubbed his forehead with his hands and stared at the desk in front of him, as if he was in a daze~

Time passes little by little~

David, who had been standing by the window for a long time, slowly let out a breath and walked out of the study. He found Susan and Cui Yingying in the living room who were watching a silent TV series and smiled.

"I need your help!"

"..OK!"

"What do you want us to do?"

"Call someone over here!"

"Ok!"

Susan glanced at the clock quickly, pulled Cui Yingying to stand up and turned off the TV, looking at David with expectant eyes~

"Hehe~"

"You go downstairs, go find White Mike and Black Mike first, and then ask them to..."

----

more than an hour later.

The Queen.

Near Rego Park, on the north side of Austin Street, a dilapidated car was parked.

Inside the car, six pairs of eyes were shining with strange light, staring at the opposite side of the street not far away.

"They're going in...it's almost 10 minutes!"

"Should we follow up and take a look?"

"..No!"

"hold on."

A tough-looking black young man sitting in the passenger seat took out a pistol from his armpit, lowered his head and checked it quickly, tilted his head and narrowed his eyes, staring at the window of the house where the two boys entered~

Waited another 5 minute.

The young man sitting in the back row who asked just now seemed to be breathing heavily and asked in a low voice.

"now what?"

"us.."

"Ok!"

"Leave one person to watch at the door~ Let's go!"

"it is good!"

. . .

In the night, under dim street lights.

The five young people got out of the car and looked around carefully. After confirming that no one was there, they quickly entered an apartment building on the street~

----

new York.

Manhattan, upstairs at Wildfire Bar on 42nd Street.

On the top floor, in a slightly empty oversized room.

David sat next to a window, with the curtains drawn behind him~

Not far from him, Harvey and Tangtang from Da Film and Television Company each were holding a camera mounted on a tripod, facing David~

Behind the two of them, a lighting engineer who was arranging fill-light equipment took the connected socket from Susan's hand, adjusted the angle, and turned on the light. .

Behind the lighting engineer, Cui Yingying, White Mike, Black Mike, Giovanni, Lavis, Old Red, little Zach, Bernard Madoff and others were sitting or standing with their necks stretched out, Watching curiously. .

After a few minutes.

David put his arms on the table, glanced at the microphone in front of him, and asked Harvey.

"Are you ready?"

"Please wait~!"

Harvey and Tangtang looked at each other, then turned around to look at the connections of various devices, and made a "hush" gesture to the chattering melon-eaters behind them~

Turning around, he gave David a thumbs up~

"Okay ~ ready!"

"I count to three!"

"Three, two, one!"

"start!"

. . .

As the countdown shouted by Harvey ended, the camera facing David started shooting~

David picked up a pair of sunglasses borrowed from Susan from the table, put them on the bridge of his nose, waved to the camera and smiled.

"Hello everyone!"

"My name is David Coleman! I am a fan of analysis and commentary in the economic field who is willing to share my personal views~"

"So, everything I will share with you today are just some of my personal views, comments, and analysis."

"If there are any errors or omissions, please contact me to help me learn and grow better~"

"My contact information is at the bottom of the screen~"

"Thank you all!"

"cough~"

"Finish the opening remarks~"

"Let's get back to business!"

"Today, the comment and insight I want to share with you is something that each of us can see often in our lives."

"gold!"

“The story about gold starts with the double-pegged system of the international common currency, the rice dollar~”

“In 1945, representatives from 44 countries established the Bretton Woods system in the small town of Bretton Woods, New Hampshire.”

"The core content of this system is: in the form of fixed exchange rates, the main currencies in circulation in various countries are linked to the rice dollar, and the rice dollar is linked to gold."

"Here, I am trying to reduce the difficulty for everyone to understand~"

"Let's give a simple example~"

"For example, if an island country wants to issue Japanese yen equivalent to 100 meters before the rice dollar is decoupled from gold, it must wait for the United States to issue 100 meters before it can issue its own equivalent Japanese yen."

"If the United States wants to issue 100-meter dollars to enter the international currency circulation market, it must have about 90 grams of physical gold as currency issuance reserves."

"With such a simplification, we can easily see the key!"

"In the Bretton Woods system, the 100-meter dollar is not a piece of paper that can be printed at will, but a real exchange certificate of about 90 grams of gold!"

"In this exchange system that seems to be dominated by the rice dollar, but is actually dominated by gold, gold not only suppresses the rice dollar, but also further limits the possibility of the incremental circulation of the rice dollar in the international currency market."

"And there is an irreconcilable contradiction in the Bretton Woods system!"

"After World War II, if countries around the world want to rebuild their country's industry and commerce, resume economic construction, and maintain economic growth, they need more currencies to act as a medium for commodity trade."

"Under the Bretton Woods system, if each country's currency wants to increase its national currency, it must first increase its reserves of rice dollars~"

"If the rice dollar wants to increase? You must first have enough gold reserves."

"However, here's the problem!"

"The world's gold production and circulation increase speed have limits, and they simply cannot meet the needs of the rapid economic growth of countries around the world~"

"Then...why can't gold production meet demand?"

"I summed it up and found that there are three reasons!"

“The first reason is that the two world wars caused a rapid decrease in the amount of mining and exploration of high-grade, easy-to-process gold rich ores and new mines.”

"Throughout the 19th century, within 100 years, there were at least 57 gold rushes around the world."

"In the 1933 years from 1945 to 12, except for the gold rush in Fiji in the Pacific and Peru in South America, there were a total of 0 traditional large-scale gold rushes!"

"That is to say, during the war, the amount of gold mined around the world reached a historical low since the first industrial revolution!"

When David said this, he touched the sunglasses in front of his eyes with his hand, picked up the juice on the table, took a sip, and continued to speak with a smile.

"The second reason for the shortage of gold in circulation is the limitation of scientific refining technology and the limit of the total gold reserves that can be explored and mined!"

“The technology of refining gold from ores has been one of the scientific research topics that scientists from all over the world have been diligently exploring since World War II.

"In recent years, various new methods of refining gold have been widely popularized, which has led to great progress in the world's gold refining technology~"

"But the total amount of gold deposits on our planet is now a big problem that all countries must start to face directly!"

"According to the statistics I can find, in the next 30 years, the world's mineable gold rich mines will gradually enter a stage of shrinking production until the veins are exhausted~"

"Within 50 years, all the gold veins that have been explored in the world will also enter a period of low production~"

"Dangdang~"

David raised his left hand, clenched it into a fist, tapped the table twice quickly, and said with a smile.

"So, you understand! Right?"

"Hehe~"

"cough~"

“The third reason is that in addition to the above two points, countries attach great importance to their policies on gold exploration and mining!”

"When the war breaks out, gold, as a precious metal that is not widely used in industrial production, will not only be unable to bring a turning point in the war, but will also occupy a large amount of labor force!"

"For example: During World War II, in order to gain battlefield advantages in the war, various countries mined and produced large quantities of cheap metals such as copper, iron, lead, and aluminum, and made them into various war weapons~"

"After World War II, the entire world lost countless wealth and tens of millions of people directly due to the war~"

"Various post-war reconstruction work has always been the main task of governments, while gold exploration and mining have been put aside."

"To sum up, after these factors are added together, I believe everyone can understand~"

"Gold, as a precious metal that was once linked to the rice dollar, played an extremely important role as an exchange subject matter in the 1945-year world economic development cycle from 1975 to 30!"

"But it was also during the 30 years of rapid economic development in various countries that the extremely slow gold mining volume caused the price of gold to increase nearly seven times!"

"So...can we make a bold prediction based on the current international economic development trend?"

"In the next 30 years..."

"In other words, in the 1975 years from 2005 to 30, the amount of gold mined has still not been able to significantly increase or improve~"

"And the economic development speed of various countries continues to grow rapidly like a train that cannot slow down."

"Then...what's the price of gold?"

"Will it still rise about 7 times in this cycle?"

"My answer is yes!"

“However, are these the only factors that affect gold prices?”

"No!"

"There is another important key!"

"oil!"

“After the rice dollar was decoupled from gold, it entered a channel of substantial depreciation~”

"After oil was linked to the rice dollar, in the past few years, it failed to immediately and completely stabilize the dominant position of the rice dollar as the world's common currency!"

"On this point, I have summarized some new ideas in my thinking in recent days~"

"Please wait until I sort it out before sharing it with you~"

"I'm David Coleman!"

"Thank you for watching!"

"See you next time!"

"Bye Bye!"

. . .

Harvey, the main cameraman opposite David, after confirming that David had finished speaking, turned off the shooting mode, made an OK gesture to him, and smiled.

"I didn't expect that the first time you faced the camera, you could..."

"Hahaha~"

David shrugged, spread his hands and said, "What's so strange about this? I'm a genius!"

"Hahaha~"

"Harvey~How many minutes is this section about?"

"Um...about 15 minutes."

"If you add an opening and ending, try to finish it in 16 minutes~"

"By the way, for the scene where I knocked on the table just now, can you... make some special effects?"

Harvey felt a little scratched his head and looked embarrassed, but said nothing~

Tangtang, who was behind the backup camera, smiled and teased David: "Special effects?"

"Do you want... the one from the Star Wars movie? Or the one from the Jaws movie?"

The smile on David's face froze for a few seconds, then he shook his head and smiled bitterly: "Forget it~"

"I don't want to be too embarrassed..."

"Hahaha~"

. . .

A few people chatted and laughed for a while.

David found Susan, changed his clothes, sat back behind the desk, changed the position of the microphone, and gave Harvey a thumbs up~

Harvey rechecked the status of the camera and lights. After seeing the thumbs up from the sound recordist, he raised his left hand to David and said.

"Second shot!"

"Enter preparation countdown!"

"I count to three!"

"Three, two, one!"

"start!"

. . .

"Hello everyone!"

"My name is David Coleman! I am a man who is happy to share his personal views on the economic field."

"So today, everything I will share with you is just my personal experience..."

"If there are any errors or omissions, please contact me."

"My contact information is at the bottom of the screen~"

"Thank you all!"

"ok~"

"Let's get back to business!"

"In today's program, what I want to share with you are two things that each of us can see often in our lives."

"Oil and dollars!"

"Petroleum, or gasoline, diesel, kerosene, plastic, etc., and petroleum-related products~"

"As for Mi Yuan... I won't go into details~"

David picked up the juice cup as usual, took a sip, adjusted his glasses, and smiled.

"To talk about the story between the rice dollar and oil, we have to tell it first... the rice dollar!"

“In the last issue, we told the story of the linkage and decoupling between the rice dollar and gold, as well as the connection between the rice dollar and the currencies of various countries~”

“In this issue, we will mainly talk about why oil chooses to be pegged to the US dollar!?”

"I think everyone should have different opinions on this issue~"

"Today, let me first tell you my opinion~"

"Based on the last episode of our program, I summarized it~"

"With the monetary value of the rice dollar and the rapid economic growth of various countries around the world, under the Bretton Woods system, we can only make a choice between two options~"

"This is the Triffin Dilemma raised by Robert Triffin, a well-known American economist in the field of international finance, in his 1960 book "Gold and the Dollar Crisis: The Future of Free Convertibility"!"

The "Triffin Dilemma" refers to "because the rice dollar is pegged to gold, while the currencies of other countries are pegged to the rice dollar." "

“Although the rice dollar has achieved the status of the international core currency, in order to develop international trade, countries must use the rice dollar as settlement and reserve currency. This will cause the currency flowing out of the United States to continue to accumulate overseas, which is very detrimental to the United States’ international balance of payments. There will be long-term deficits."

“As the rice dollar is the core of the international currency, the premise is that the currency value of the rice dollar must be kept stable.”

"This again requires that the United States must be a country with long-term international trade surplus."

"These two requirements are contradictory to each other, a paradox!"

“That’s why the United States must choose between continuing to link the dollar to gold or decoupling it!”

"But no matter which side you choose, it means the bankruptcy of the Bretton Woods system."

“Faced with a dilemma, the Federal Reserve Bank of America and the U.S. government can only do some work that treats the symptoms rather than the root cause to quench their thirst~”

"Essentially? I've been putting off making a clear choice~"

"However, in the more than ten years since Robert Triffin raised the Triffin Dilemma, the objective laws of world development have helped the US government make a choice~"

"The United States has chosen to maintain domestic economic growth ~ which means the devaluation of the rice dollar!"

"The United States has given up the link between the rice dollar and gold, which means that it has lost the exchange object with the currencies of other countries!"

"It just so happened that at this time, the fourth Middle East war broke out. Countries in the Middle East announced oil production cuts one after another, and international oil prices rose sharply."

"The economic structure of the world has entered a state of chaos~"

David scratched his nose with his finger, shrugged at the camera, and smiled.

"Anyone on Earth knows this~"

"In all wars in history, there has never been a true winner~"

"In my opinion, war should be the last resort to solve problems and conflicts~"

“It should not and will not be the only solution to problems or conflicts!”

"So, those of us who live in peaceful times and peaceful countries must cherish this peaceful life even more!"

"Hehe~"

"Sorry ~ I got off topic!"

"Back to the point!"

"On August 1971, 8, President Nixon announced that the dollar would cease to be convertible into gold ~ This meant the complete collapse of the Bretton Woods system ~"

"Two years later, in 1973, during the 10th dollar crisis, countries around the world followed the example of the United Kingdom, which ran away early, and gradually gave up the fixed exchange rate with the rice dollar. In the international currency market, the original double exchange rate of the rice dollar The linking system has completely collapsed at this point~"

"However, this system of dual pegs between currencies has collapsed~"

"But the dollar has always played a dominant role in the international currency market over the past 30 years~"

"So, before there is a common currency that can replace the rice dollar, the currencies of various countries are still inextricably linked~"

"At this time, the outbreak of the fourth Middle East war and the advent of the first oil crisis caused a dramatic reversal in the status of the dollar~"

"What's the reason...?!"

"I'm sorry! I don't have a particularly accurate and true answer for you~"

"But I have a few... guesses!"

"caution!"

"Everything I will say later... is just my personal speculation! There is no real evidence~"

"cough~"

"As the blood of industrial production, oil can replace gold and is successfully linked to the dollar~"

"When I come to open it, it's actually a coincidence but also a necessity!"

"Everyone knows that the region with the largest oil reserves in the world is in the Middle East~"

“And the country with the largest oil export volume in the Middle East is none other than Saudi Arabia!”

"In 1973, OPEC imposed an oil embargo."

"The United States and European countries have therefore entered a period of economic recession."

"But the most surprising thing has emerged. Arab countries adopted an oil embargo because they were hostile to the United States~"

"Then Saudi Arabia...why is it willing to use the rice dollar to settle oil?"

"The reason is simple!"

"Although Saudi Arabia is one of the founders of OPEC, it is the guardian of Mecca and Medina among the three holy cities of Christianity."

"It is still a country that is very backward in various fields such as military, industry, agriculture, economy, and people's livelihood!"

"What proportion of Saudi Arabia's oil export revenue can account for in its fiscal revenue?"

"The answer I can find is, more than 80%!"

"The OPEC organization uses the oil embargo as a super weapon to sanction the United States and European countries. It also cuts off the source of fiscal revenue for major oil exporting countries such as Saudi Arabia."

"However, everything has two sides!"

"This is the case. Saudi Arabia, which was originally close to the United States and conservative, went against the norm during the oil embargo and directly transformed into the most radical anti-American fighter, and single-handedly reduced the oil production of Arab countries by 50%."

"why?"

"The reason is also very simple~"

"Saudi Arabia, maintain your status as a royal family!"

"Hehe~"

"That's right!"

"This is my biggest guess today~"

"cough.."

"I think the reason why the Saudi king plays this way is because generations of Saudi kings have been delicately and coldly maintaining their royal power!"

"Before the oil embargo, there were voices in Saudi Arabia, from ordinary oil workers to nobles within the royal family, who opposed the hegemony of the United States and called for civil rights movements."

"So, in this complicated situation~"

"The Saudi royal family, which is not so popular with the people in the first place, must not do anything that makes the people hate it and trigger an avalanche of domestic situations."

"King Faisal of Saudi Arabia, who is clever and has experienced long-term diplomatic experience, not only did not step into the trap, but also cleverly captured the Saudi people's dislike of Israel~"

"And he used the strongest attitude to fight against rice and rice, which severely harvested the hearts of the people."

"But King Faisal also knows in his heart that people's emotions come and go quickly. After all, they cannot be eaten."

"If we want to consolidate the royal power of the Saudi family for a long time, we must resolve the key points of contradiction between all classes!"

"If the people are dissatisfied... exempt personal income tax + free education + free medical and food subsidies..."

"If the brothers of the royal family are dissatisfied, then allocate part of the financial budget to increase the royal family's expenditure, so that everyone's wallets will be bulging, and they will naturally be satisfied."

"If the domestic situation is stabilized, what conflicts will arise in the surrounding neighboring countries~"

"Then continue to spend money and increase your determination and intensity to expand armaments ~ Be the number one in the world!"

"The United States can't help but shout about its wealth..."

"But Saudi Arabia has a solution to the problem, but it still has to face such a huge expense~"

"Lack of money determines that Saudi Arabia must not be without oil revenue!"

“And who is the largest oil buyer in the world today?”

"That's the United States, island countries and European countries!"

"Therefore, once the super weapon of the oil embargo achieved the desired effect of Saudi Arabia, it immediately began to contact the United States to start negotiations on lifting the oil embargo."

"So...how to negotiate with the United States?"

"Hehe~"

"I guess Saudi Arabia will definitely make three demands!"

"Let Israel, the thorn in the Middle East, be at peace + let the United States provide more military and economic support to Saudi Arabia + find a sustainable, low-risk, stable income financial path!"

David said this, he clenched his fists with his left and right hands, knocked down on the table, and said with a smile.

"Clang clang~!"

"In 1973, the long-term Treasury bonds of the United States were officially listed on the Chicago Stock Exchange!"

"Hehe~"

“Subsequently, Arab countries in the Middle East, for practical reasons similar to Saudi Arabia, also accepted the dollar!”

“In less than a year, all European countries have joined the petro-meter system!”

“At this point, the U.S. dollar has officially reestablished its dual-pegged system with international currencies.”

"It has returned to the throne!"

"ok~!"

"I'm David Coleman!"

"Thank you for watching!"

"In the next issue, I will talk to you about why inflation occurs, this strange economic phenomenon!"

"Bye Bye!"

. . .

"Whoo~"

After confirming to Harvey that the cameras were off, David let out a sigh of relief and leaned back in his chair with his eyes closed.

Susan and Cui Yingying, who were waiting in the distance, walked quickly to David and looked up and down with concern~

After Susan nodded, Cui Yingying started to massage David's head directly. .

Everyone saw David enjoying the care of the two "beauties" like a "foolish" nobleman, and they couldn't help but look elsewhere. .

Harvey and Tangtang looked at each other, covered the camera lens, and asked with a smile.

"What do we need to do with these films?"

David raised his hand and waved, and said, "Take it back and we'll burn twenty copies tonight~"

"That...Black Mike, little Zach!"

"Can you two do me a favor?"

"Of course!"

The two people whose names were called both walked towards David.

David thought for a moment and said, "Follow Harvey back~"

"Black Mike, take five completed films and give them to Pine!"

"Little Zach, take four copies and give them to Otis Parker!"

"Bernard! You also go and get a copy and let Mikhail Friedliman take a look."

"Remember! Just show him, don't leave any tape for him!"

"..ok!"

The little Zach rolled his eyes a few times and asked David with a smile.

"boss!"

"Mr. Parker, do you need me to bring you a word?"

"Hi~!"

"You were right to remind me!"

"That guy Otis..."

"Um.."

"You tell him, Gerald, Carnes, Little Peter and... Deborah!"

"One for each of the four of them!"

"After they've seen it, take the tape back!"

"Ok!"

"Oh, right~"

"Harvey, when you are transcribing the film, you need to record these two sections into two videotapes respectively - don't mix them together!"

"Gold, this is the first issue!"

"Oil, it's the second phase!"

"This is important!"

"Ok!"