Reborn in the 60s, starting with going to the mountains and countryside

Chapter 622 The Collapse of the Bretton Woods System

Chapter 622 The Collapse of the Bretton Woods System

France was the first to try this, and Germany and Italy followed closely behind, wanting to convert all of their country's rice-dollar foreign exchange into gold.

But this time Milician was not so easy to talk to.

The Fed stated that it can be exchanged for gold, but the gold must be placed in the underground vault of the Fed and the two countries are not allowed to transport the gold back to their own countries.

The Federal Reserve has no choice. If Germany and Italy were to transport the gold away, and other countries would follow suit, the Federal Reserve's gold would definitely not be enough for them to exchange.

Only the Federal Reserve Bank of America knows how many dollars it has issued in excess of dollars due to wars in recent years.

As defeated countries, Germany and Italy naturally couldn't stand up when faced with America, the biggest winner of the war, and could only verbally condemn America's behavior.

When the bear saw this, he naturally would not remain indifferent, and finally showed his fangs.

As a furry bear who can compete with Millikin, he is certainly worthy of Millikin.

Directly encourage Germany and Italy to implement the agreement of 35 meters for 1 ounce of gold under the Bretton Woods system.

With Mao Xiong's involvement, many countries around the world have also applied to the Federal Reserve Bank of America to convert rice dollars into gold.

Now the Fed is really feeling uncomfortable. If this matter is allowed to continue to develop, not only the status of the dollar will be destroyed, but even the entire United States will be destroyed.

America is going to be the enemy of the whole world.

In the end, Militia simply could not withstand the pressure, and Congress passed the Militia proposal to abolish the Bretton Woods system and from now on the dollar would no longer be linked to gold.

On the day that Congress passed this proposal, the commander-in-chief of the United States made a televised speech to announce this resolution to the world.

When the news came out, the whole world went crazy, especially countries with large amounts of rice-dollar foreign exchange.

In this panic, the rice dollar began to be sold off in large quantities, and the rate of depreciation of the dollar frightened everyone.

The price of domestic goods in America increased sharply, and the whole of America fell into chaos.

Ye Hao, who was far away in Hong Kong Island, also saw this scene.

He never expected that through his actions, the United States would abolish the Bretton Woods system more than five to six years ahead of schedule.

What Ye Hao thought before was correct. The family behind Mi Yuan had indeed spent so many years trying to save Mi Yuan.

But I didn't expect that France's leadership would cause such a big panic.

In fact, this is not surprising if you think about it carefully.

First of all, due to the huge expenditures in the war in recent years, the country's fiscal deficit has soared and its gold reserves have plummeted. A crisis of trust in the US dollar has erupted. Countries have some doubts about the ability of the US dollar to be exchanged for gold.

Coupled with the fact that gold was transferred this time, although the Fed ultimately passed the blame to Mike Chesney, this incident still caused countries to have a crisis of confidence in the dollar.

In particular, Mao Xiong added fuel to the fire and spread the news of the loss of gold from the Fed to the ears of leaders of various countries. If such a thing happens, no one will continue to believe in the status of the rice dollar in the world.

When the dollar plummeted, Ye Hao injected another 200 tons of gold into [Longxing Bank]. After some operations by Felton, [Longxing Bank] successfully obtained 20% of each from HSBC and Standard Chartered Bank. of shares.

And during this period [Long Hing Bank] acquired a number of local banks in Hong Kong Island.

Now [Long Hing Bank] is large enough to enter the top five banks in Hong Kong Island.

Ye Hao didn't care about any of this. He really had no interest in management, so Felton was left to take care of everything.

After such a long time, the things Ye Hao shipped back from Europa have arrived at the port. The goods entered the warehouse, and Ye Hao replaced all the things inside with the mechanical equipment for this procurement mission.

The rest of the matter is very simple. We have done many transactions before, the contracts are all ready-made, and both parties are convinced by Ye Hao. The negotiation went smoothly, because when the Fed first had problems, the country had already used rice. The yuan was exchanged for a batch of things. At this time, the country’s foreign exchange reserves were not very large.

The remaining rice dollars were no longer enough to pay for this batch of machinery and equipment, so they finally decided on the plan of paying the goods in cash and the antiques and cultural relics in installments.

In fact, this is not the first time this kind of thing has been done. Last time, one-third of the payment was a loan from [Longxing Bank].

In the final analysis, Ye Hao is mainly responsible for the crazy depreciation of the rice dollar this time. Ye Hao does not want the country to lose too much, so he still calculates the rice dollar according to its previous value as he said before.

At this time, Lin Mingxu, Hua Luanren, and all the big guys in the capital all had a great impression of New Century Trading Company. In their view, New Century Trading Company was founded by an out-and-out patriot. company.

If domestic conditions did not allow it and the products sold by New Century Trading Company were too luxurious, they would all be interested in introducing the products sold by New Century Trading Company.

After finalizing the contract details, Lin Mingxu began to arrange transportation issues.

Ye Hao will wait until the first batch of mechanical equipment is shipped away before he can go home.

Due to the depreciation of the rice dollar, prices in the country have skyrocketed. A meal that used to cost one dollar now costs ten dollars. This has led to great dissatisfaction among the people of the country with the government.

Parades can be seen everywhere. Brother Ni had no money to begin with, and now the prices are so high, making their already tight life even more difficult.

Many young Ni Ge took advantage of the darkness to pry open the doors of supermarkets and convenience stores and started the 'zero yuan purchase' movement.

This '0 yuan purchase' movement quickly spread among the Nige crowd in Millikin.

At the beginning, there were police arresting these mud brothers, but later there were so many people buying for zero yuan that the prison system in Millikin could no longer accommodate so many people.

In the end, many Ni brothers who had relatively small "zero yuan purchases" were acquitted.

This move further stimulated the arrogant arrogance of the "zero yuan purchase" of the mud guys.

In the past, "zero-yuan purchases" were only conducted after the stores closed at night. Now, many bolder Ni brothers dare to rush into supermarkets and conduct "zero-yuan purchases" during the day in full view of the public.

This move completely angered many store owners in Millikin.

Finally, a boss with a bad temper couldn't hold back and pulled the trigger on Brother Ni.

After the incident, Brother Ni in this area became a little more restrained, but the boss was also taken away by the police.

However, the boss was acquitted the next day.

Brother Ni can't sit still now. This is simply discrimination. Brother Ni's life is not his life. Although the person who died was shot because of "zero yuan purchase", "zero yuan purchase" is not a crime. Until death.