On the morning of September 25th, the Xin Bureau of Statistics announced Xin's GDP, economic aggregate, and other data for the first half of 2018. It proposed that Xin's increasingly large domestic market was enough to support the issuance of its own currency.
In order to cope with the fluctuations in the international exchange rate market, Xin must use its own currency to price its own products.
As soon as this report came out, smart people immediately sensed that the Xin government was building momentum for the issuance of its own currency!
Sure enough, shortly after the release of this report, Future Group stood up and expressed support for the initiative.
At the same time, Future Bank, in conjunction with a number of domestic banking companies in Xin, announced the establishment of the "Xin Joint Reserve Administration" and the issuance of a currency called "Xin New Dollar". The plan was to completely get rid of the domestic use of foreign exchange as a currency by the end of 2019.
The currency to be issued was mainly in six denominations: 1, 5, 10, 20, 50, and 100.
The initial issuance totaled 50 billion Xin New Dollars, guaranteed by precious metals and foreign exchange worth a total of 54.1 billion US Dollar. It was mainly put into the market in the form of loans, and at the same time, it would open channels for domestic citizens to exchange for currency. Later, 50 billion Xin New Dollars would be put into the market to ensure that the total amount of currency would be 100 billion.
Considering that the currency had just been issued and that Future Bank's foreign exchange reserves were still adequate, the Xin Reserve temporarily adopted a fixed exchange rate system, that is, 1 Xin New Dollar was exchanged for 1 US Dollar, and foreign exchange reserves were used to make the Xin New Dollar fluctuate around the current exchange rate.
After the currency stabilized, the Xin Reserve would gradually liberalize its monetary policy and transition to a floating exchange rate system where the value of the currency was determined by supply and demand in the market.
As the largest shareholder of the Xin Reserve, the first president of the Xin Reserve was David Smith, the president of Future Bank, and the deputy president was elected by other banks in Xin.
It was easy to talk about finance, but it was quite troublesome to execute. Based on the principle of specialization, Jiang Chen handed over the specific matters of the Xin Reserve to Mr. Smith. He believed that the former executive of Citibank would certainly not disappoint his expectations.
The issuance of currency by a small country in the Pacific did not cause much of a stir in the international community.
However, compared to the indifference of the international media, with the help of the media, a wave of support for the domestic currency was set off in Xin. Under the leadership of Future Group, many shopping malls had been labeled with Xin New Dollar, and customers who used Xin New Dollar to purchase goods were given discounts of 9-20%.
Penglai added the Xin New dollar to the personal electronic accounts of urban residents and provided a "one-click exchange" button.
In order to reduce travel costs, many tourists also chose to exchange their domestic currencies such as USD, RMB, and Rubles for Xin New dollars when they entered the country. However, many foreigners showed considerable confusion about the Xin New Dollar.
"Xin New Dollar? Using coconuts as collateral? "
"Maybe it's made of rubber or shells. (smiley face) "
"Why can't we just use USD? For a small country with a population of less than a million to issue its own currency, I don't see any benefits other than making it more troublesome to pay the bills. "
"Perhaps it's because the president of Future Group wants to print his face on the banknote? In order to achieve this goal, it seems like he can't think of a better way. "
All sorts of ridicule could occasionally be seen in the comments section of related news.
Although people didn't care about the Xin Reserve and the Xin New dollar, they were still very interested in Future Group itself.
A businessman who started from scratch could reach this level. Not only did he control offshore countries and set up a trust model monopoly group, but he also issued his own currency, which was impressive enough.
Countless capitalists and businessmen regarded Jiang Chen as their goal, and countless ambitious young people regarded him as a lighthouse to illuminate their path in life. Fortunately, Jiang Chen didn't know about this. If he knew, he might laugh out loud.
[My success can't be easily replicated.]
[If you want to replicate it, get an interdimensional bracelet first!]
…
No work on Saturday.
At 8 o 'clock in the morning, Natasha slept in and walked out of the room while rubbing her sleepy eyes. She happened to bump into Jiang Chen who just came out of the bathroom.
"Morning."
"Ha … ah, morning."
Natasha responded to Jiang Chen with a yawn and walked around him to the bathroom.
After washing up, she came to the dining room.
There were sandwiches and milk on the table. Jiang Chen, who was already dressed, was enjoying his breakfast.
The Freemasonry was restrained by Russia on the Ukrainian issue, and they didn't make any moves against Jiang Chen for the time being. These days were a rare period of leisure. Although the two sides were still fighting in Madagascar, Africa was still far away from Asia.
Natasha picked up a piece of sandwich and rested her arm lazily on the table. She held the side of her face with one hand, and her blue eyes looked at Jiang Chen suspiciously.
"It's strange, why did you get up so early today?"
And he was wearing a suit.
Who would wear a suit so early in the morning? And on the weekend?
When he heard Natasha's question, a smug smile appeared on Jiang Chen's face. He straightened his collar, squeezed his eyebrows, and said with a smile.
"Ahem, Professor Jiang is standing in front of you now."
Natasha rolled her eyes and took a big bite of the sandwich. Her eyes suddenly lit up and she looked at the sandwich in her hand in disbelief.
This taste … is it really a sandwich?
"How does it taste?"
Jiang Chen smiled, stuffed the last piece of sandwich into his mouth, and wiped his hands with a tissue.
"Great!" Natasha was generous with her compliments. She quickly finished the sandwich in her hand and licked the salad dressing on her fingers. "What is this made of?"
"Actually, it's nothing. Vegetables produced by the submarine cultivation base, plus Ayesha's craftsmanship."
At the same time, Jiang Chen subtly moved his eyes away.
Obviously, she didn't notice how seductive this action was in the eyes of men.
Especially since she was still wearing pajamas …
At this time, the door of the dining room was pushed open, and Ayesha appeared at the door.
She walked behind Jiang Chen, and her hand gently fell on Jiang Chen's shoulder. Like a docile wife, she leaned close to his ear and whispered.
"The car is ready."
"Mhmm. You should come and eat something too. "
"I ate in the kitchen after my morning run."
If Jiang Chen didn't stay up too late the night before, Ayesha usually got up around 6: 30, jogged along the beach for half an hour, then went to the bathroom to take a shower, and then prepared breakfast for Jiang Chen.
"Do you have any plans today?" Seeing that Jiang Chen was about to leave, Natasha couldn't help but ask.
"Didn't I say it already? Please call me Professor Jiang today. "Jiang Chen smiled, revealing his white teeth.
"… Speak human language."
Looking at Natasha's expression of disbelief, Jiang Chen shrugged helplessly.
"Okay, Coro Island University's public elective class is starting. As an honorary professor, I happen to have a public elective class today."
After listening to Jiang Chen's words, Natasha looked at him dumbfounded, and the sandwich in her mouth fell back onto the plate.
"Professor? You? Phew … Haha … Ahem! "
"What are you laughing at!"
Jiang Chen glared at Natasha, who was pounding her chest and gulping down a mouthful of milk. Her chest was heaving up and down.
[Are you kidding me? I'm already a successful person, okay?
What's wrong with being a professor? I'm still the first principal! There are so many students who want to take my class that I don't even know where they are!
"By the way, what are you planning to teach your students?"
With a serious face, Jiang Chen answered honestly.
"Cosmology."
"Phew … Ahem! Water! Ahem! I'm going to die! "
The milk was already finished. Natasha, who choked, tried to hold back her laughter as she dashed into the kitchen like the wind.
Looking at the swinging kitchen door, Jiang Chen fixed the tie around his neck and cursed in his mind.
[Choke to death!]
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
