"… Xin will terminate the use of foreign currencies to settle space-related trade, and the Xin New dollar will be the only currency for space resource transactions."
When Secretary of State Kerry read these words in the conference room of the Capitol, the entire conference room was silent.
Kerry felt uncomfortable being stared at by countless eyes. He moved the document away and shrugged. "I'm done."
The atmosphere in the conference room relaxed. As if they had received some kind of signal, the whispers gradually became louder.
Kerry breathed a sigh of relief, sat back in his chair, threw the document aside, pinched his sore brows, and glanced in the direction of Hill and the Speaker of the House of Representatives. Logically speaking, this kind of internal meeting of the Capitol would not invite people from the Congress, especially when the Speaker of the House of Representatives, Mr. Paul Ryan, was a Republican.
But now they couldn't care less.
Hill and the Chief of Staff frowned, the Minister of Commerce picked up the teacup for the tenth time, and the Minister of the Interior looked at the ceiling thoughtfully. The economic experts and consultants looked at each other and exchanged opinions in whispers, but it was obvious that they did not come up with a clear idea. If they had an idea, they would have already proposed it. After all, giving opinions was their only purpose in this kind of meeting.
This situation lasted for ten minutes, and finally, an official broke the silence.
"I don't understand the reason why they are doing this. The US dollar is an international currency. If the US dollar is used for settlement, it will make a lot of inconvenient things much more convenient!"
"Obviously, they are trying to save the crumbling Xin New Dollar," said an economics expert from Harvard University.
"No, maybe they have greater ambitions …" said an international relations expert from Stanford University. "Just a few days ago, we all thought that they were buying back the Xin New Dollar in the foreign exchange market like crazy. They just wanted to salvage the failure of their decision-making. I didn't expect that all this was a trap set by them. "
A Democratic congressman leaned back in his chair and sneered disdainfully.
"I think we are completely overthinking. How big is the entire space resource development market now? It's only a few hundred billion at most. "
"That's right. Our core interests are still on Earth. No matter how many resources they develop in space, they will eventually circulate in the international market. The US dollar still has an indisputable influence. It's simply a pipe dream to challenge the status of the US dollar with just a space elevator. "
"It's just a captured asteroid. Not to mention that this asteroid hasn't been fully developed yet. Even if it's fully developed, it's only worth a few hundred billion dollars. There are more than 90 trillion USD in the world. The value of the two is not on the same order of magnitude. "
"Unless they can prove the profitability of the space elevator."
"…"
The argument went on for a while and finally quieted down when Hilary cleared her throat.
Seeing that everyone was looking at her, Hill said.
"I have already exchanged opinions with the Speaker. We all agreed that it is necessary to send the Secretary of State to Xin for a diplomatic visit. Expanding the application of the US dollar is one of our foreign policy priorities. The US dollar is the international currency, and this is what we have been trying to promote for decades. "
"At least, use the dual-track settlement of USD and Xin New Dollar. After all, the USD also has a certain amount of circulation in Xin. We must remind them of this."
Secretary of State Kerry spun the pen in his hand and spread out his hands on the table.
"What about Europe? Recently, in Europe … "
Hilary looked at him and said.
"I know. Everything has its priorities."
"The European Union is our ally, so you go to Europe first. On the way back, go to Xin on the way."
Hill emphasized the keyword "on the way".
Kerry nodded in understanding.
It was important to convince Celestial Trade to relax the restrictions on the USD in space resource settlement, but they couldn't let Celestial Trade take themselves too seriously.
…
Just after Celestial Trade announced that the Xin New Dollar would be the only settlement currency for space trade, the Xin New Dollar exchange rate market experienced a rather strange fluctuation. Just like most stocks rebounded after hitting the bottom, it recovered to the original exchange rate at an incredible speed.
Although there were many opinions on Celestial Trade's move, the central banks of various countries unanimously made the same move, which was to increase their holdings of the Xin New Dollar.
If the Xin New Dollar was the only currency for outer space trade, then in order to develop its own aerospace industry with the help of the space elevator, the Xin New Dollar would have a strong demand for the country. Considering that other countries also had similar needs, then the Xin New Dollar was expected to appreciate, so the central banks of various countries would make basically the same decision after discussion.
That was, to use their own currency to buy the Xin New Dollar from the foreign exchange market.
Under the influence of these external factors, the appreciation of the Xin New Dollar was naturally promoted.
As early as when the exchange rate of the Xin New Dollar fell to the bottom, Jiang Chen purchased a total of 943.1 billion Xin New Dollar from the Xin Reserve in batches with a total value of 212.7 billion US Dollar. Now, the exchange rate between the Xin New Dollar and the US Dollar was almost the same.
In other words, in this banknote printing storm, Jiang Chen more than quadrupled the 212.7 billion US Dollar held by Future Group and Celestial Trade into the equivalent of 943.1 billion US Dollar.
The reason why it could jump up and down like a seesaw was that the circulation of the Xin New Dollar was relatively small. If it was the currency of other countries, unless there was a financial tsunami, such a large fluctuation would be almost impossible.
"I have to say, financial instruments are simply a tool to make money."
When Xia Shiyu placed a financial report on Jiang Chen's desk, Jiang Chen exclaimed.
Even for Future Group, which had developed to its current level, 943.1 billion US Dollar was definitely an astronomical figure. Although the money was in Xin New Dollar, it was foreseeable that the exchange rate of the Xin New Dollar would be very strong for a long time in the future, so there was no difference.
A resolution on large-scale banknote printing and a long-awaited regulation on currency settlement for outer space resources. Just these two documents allowed Future Group to rake in more than 700 billion US Dollar in the foreign exchange market. In just one month, an Apple appeared out of thin air.
"The UA's annual revenue is only 5 trillion US Dollar. Even for a country, this more than 900 billion US Dollar is not a small number." Xia Shiyu pulled a chair from the side and sat across from Jiang Chen. She propped up her chin with her hand and studied the expression on Jiang Chen's face. "How are you going to deal with it?"
The financial market was a zero-sum game.
It did not create any value, and if someone made a profit, then it must mean that someone lost money. The more than 700 billion US Dollar did not appear out of thin air, but Future Group used the advantage of information to catch the Federal Reserve and Wall Street giants that manipulated the foreign exchange market by surprise.
It was hard to imagine that they would not retaliate.
"Their strategy is nothing more than to snipe the Xin New Dollar in the foreign exchange market, suppress the exchange rate by shorting the Xin New Dollar, and let the banknotes we bought at a low price rot in our hands while destroying Xin's economy." Jiang Chen leaned back in the chair and smiled.
Xia Shiyu looked at Jiang Chen with some surprise.
"Are you surprised?" Jiang Chen was keenly aware of the surprise in her eyes and smiled. "I did charge myself a lot of electricity."
Although this financial battle had nothing to do with him, it was all commanded by the professional financial team of Future Bank. And these theories were also taught to him by David Smith.
"Stop being cocky." Xia Shiyu rolled her eyes at Jiang Chen and got up from the chair. "The long-distance power transmission device of the Moon colony will be activated tomorrow. Are you sure that laser beam won't poke a hole in the Earth?"
Jiang Chen shrugged and said helplessly.
"How many times have I told you, even if it hits the face of the Earth King, it can't penetrate its ozone layer."
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