Chapter 564 Money Exchange Order
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"But having said that, what do your French shareholders think of the good news in Libya? I think the key is whether the French government can provide stable work in Libya. The current situation is very clear, even if Britain and France are on the side Together, we can only withstand pressure from the United States or the Soviet Union, and together we and France still have 20 million square kilometers of colonies. The more our interests overlap, the easier it will be to cooperate."
Freed from his inability to breathe, Alan Wilson had not forgotten to ask Pamela Mountbatten about the progress of Libyan oil.
"I think it is not a problem. The French are very enthusiastic about this matter." Pamela Mountbatten expressed her optimism. "I have even apologized to the French on some occasions for this."
"This? Okay! Now is indeed the time for unity." Alan Wilson opened his mouth, but it was hard to say anything.
If you look at the perspective of the French after World War I, what you see is this: Britain and the United States, who fought side by side during the war, are now condemning France's harshness towards Germany. On the one hand, they gave Germany leniency, on the other hand they provided loans and investments to Germany, and even demanded repayment of debts owed to France during the war.
France did not surrender in World War II, but was defeated. Although France's territory was very large in Europe, it did not have the capital for a protracted war. In the short period of time before France was defeated, it also caused 200,000 casualties to Germany. casualties.
Most countries in Europe have no room for error, and the same is true now when facing the Soviet Union. Therefore, even if Alan Wilson believed in his heart that the Soviet Union would not really invade Europe, he could not convince others. After all, the current Europe does not allow for mistakes.
He really wanted to find a balance, but when he really started looking, he realized that it wasn't that easy to find.
On this day, Alan Wilson received a telegram about the preparations for new banknotes in British Malaya. The new banknotes have been printed and can be put into the market at any time. The basic conditions for currency reform are already in place.
Alan Wilson felt that this was a good time. After all, the Americans were busy and the Soviets were out of reach. It’s a peaceful time! The news was revealed to Pamela Mountbatten, "Honey, would you be interested in opening a bank?"
"In Malaya?" Pamela Mountbatten asked, and then she saw Alan Wilson nodding, and asked further, "Do you have any reference for your work in Malaya?"
"It's about the same as the Hong Kong dollar." Alan Wilson told the truth, using the Hong Kong dollar as an example. The most prosperous time of the Hong Kong dollar should be in the early years of the Republic of China. At that time, the Hong Kong dollar was not only the currency of a city, but the currency of the entire Pearl River Delta. .
After all, compared with the chaotic political situation at that time, Hong Kong, which was managed by the British, was very stable, not to mention the Hong Kong dollar and the British pound.
"I want to discuss it with my mother!" Pamela Mountbatten paused and added, "My mother knows many bankers and has many friends with American Jews. Of course, we will definitely not go against the interests of the British Empire. But this I want to know more about professional matters, what do you think?"
"No problem! The issuance of Asian pounds will definitely require several banks to play a supervisory role." Alan Wilson revealed, "If the exchange rates of neighboring countries are unstable, the use of Asian pounds may expand. It depends on the future of the British pound Is there a gap in development between Malaya and its surrounding areas?"
As for the Asian pound, it must use the pound as a spear and bind the exchange rate to the pound. Where Asian pounds are circulated, they will also become reservoirs of pounds.
When studying the currency value of the Asian pound, based on local conditions, Alan Wilson submitted a proposal to exchange one pound for six Asian pounds, thus fixing the currency value.
After Whitehall conducted an investigation, it set the exchange rate at one to eight. For example, if the current market exchange rate is eight Asian pounds to one pound, the bank can exchange one pound for seven Asian pounds.
In this way, you can get a profit of 0.2 Asian pounds for every pound exchanged. The bank would buy pounds and sell Asian pounds in the market, and the exchange rate would fall until it was close to the real exchange rate.
If the current market exchange rate is 7.5 Asian pounds to one pound, the bank can exchange one pound for 7.5 Asian pounds to the issuing bank, so that for every pound sold, it can obtain a profit of 0.3 Asian pounds. The bank would buy pounds and sell Asian pounds in the market, and the exchange rate would rise until it was close to the real exchange rate.
Under this operation, the initiative lies entirely with the pound. The basis for this implementation is that the UK must find a way to maintain the value of the Asian pound in the early stage. The value of the Asian pound must be more stable than the currencies of neighboring countries.
This means of stabilization includes, but is not limited to, financial support, industrial support and even military support. The CFA franc was forcibly promoted in French-speaking areas in Africa by relying on French military power.
But for the UK, military support alone is not enough, there must be financial and industrial support. Not many countries will dig up the roots of the French because of poverty in Africa.
But that would not necessarily be the case in British Malaya. The Strait of Malacca was not of ordinary importance. After all, although Britain and France were both colonial empires, the value of the colonies occupied by the two countries was very different.
If you replace gold in the gold standard with currency, you can roughly understand this logic. When a shop that issues paper gold reserves less and less gold, what does it mean for the paper it issues? Similarly, when the central bank's currency reserves decline, it means something to the yuan.
Comparing the differences between high-consumption countries and high-saving countries, you will know that the Eurozone is a place with extremely high debt in later generations. The increase in debt refers to when the flow rate of broad money decreases and deflation occurs. At that time, companies owe money. And money becoming more expensive is equivalent to an increase in real liabilities. When the scale of debt continues to rise, what the central bank has to do is the opposite, making money cheaper. This is equivalent to reducing the debt of enterprises and preventing the occurrence of a deflationary spiral.
Each has advantages and disadvantages. As Prime Minister Attlee said, we must combine the advantages of capitalism and socialism to establish the Socialist Alliance of Great Britain...
There may be more than one bank issuing Asian pounds. For example, there are three banks issuing Hong Kong dollars in Hong Kong;
If Malaya wants to issue an Asian pound, it must hand over one pound and receive a certificate of indebtedness before it can start printing money. When the banknote-issuing bank wants to withdraw the banknotes, it must present a certificate of liability to the bank to redeem the pounds, and then exchange them for Asian pounds from the market.
Pamela Mountbatten didn't understand the twists and turns, and Alan Wilson also had a partial understanding of it, but her mother Edwina Ashley understood it very well. After meeting her good son-in-law who was the High Commissioner in British Malaya, Relevant issues were revealed.
Edwina Ashley immediately told her daughter to seize this opportunity, and even came directly to understand the situation with Alan Wilson.
"At this stage, we just need to carry out banknote replacement work, and replace the previously circulating currency with the new version of the Asian pound." Alan Wilson pondered for a while, "Formal currency reform will start after the old banknotes end circulation. I think it will take a few months. Then you can start.”
When it comes to currency issues, Alan Wilson doesn't dare to wave his hand and start beating his chest. He really wants to be as domineering as Modi, who can get everything done in a short time with a demonetization order.
But everyone has Hindu populism as support, but Alan Wilson does not. Not only does he not have it, he is also the head of the local colonial government, a pure foreign colonizer.
The British Empire is different from the general European colonial countries, similar to France and Portugal. The UK can be said to rule without governing, and is only now beginning to undergo a transition to direct management. He wouldn't dare slap him on the head in Malaya!
After messing up Malaya, Britain now has no other colony suitable as a spare tire. No matter how confident he is, Alan Wilson does not think that he can lead a group of black uncles in Africa and have a good relationship with Japan.
"That is to say, we are in the currency exchange stage now, and you ask Pamela to set up a bank, which will play some of the central bank's responsibilities." Edwina Ashley thought about it, "Do you think it will go well?"
"It shouldn't be a problem. It has been initially decided to use three banks to share the central bank's responsibilities." Alan Wilson said with reservations, "Of course, I am a civil servant and I don't understand all financial knowledge. I just have this idea."
"No, Ellen, you actually know it very well." Edwina Ashley praised without hesitation, "Pamela is completely attracted by your talent."
Talent? Do you have that kind of thing yourself? Alan Wilson asked himself, isn’t it about money?
When Alan Wilson heard the word talent being used on himself, he immediately thought of a sentence, "Do you think I can't find you if I hide here?" It's useless. No matter where a man as outstanding as you is, he stands out like a firefly in the night...
Touching the stubble on his chin, Alan Wilson's eyes looked melancholy.
Along with the fierce fighting in the Pusan defensive circle, the currency exchange in British Malaya was also officially launched. On such an important occasion, it is really unreasonable for Alan Wilson to see the loss of contact in Europe.
But there was no other way. If the distance was not too far, he would have wanted to go to the United States to comfort the British treasure who was nervous about filming. Even so, he maintained frequent contact with Vivien Leigh, exchanging telegrams to express his thoughts about the national treasure.
"When I settle the salary, I will go to Malaya to buy a manor to accompany you." Vivien Leigh looked at her son in the stroller, which was full of the shadow of that man.
Ms. Vivien Leigh, the major shareholder of United Artists Pictures, walked over and picked up her son, feeling that life was full of light.
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