Chapter 1163
The candid and open exchanges between these top Wall Street tycoons and the President of Hong Kong Monetary Authority, Sir Gao, show the essential demand that, although the US financial market is the largest and the highest in the world, the Hong Kong financial market, which has high string points, can provide During this period, in the U.S. financial market, because of various reasons, Wall Street felt that there was no room to operate.
In particular, the carnival atmosphere of a stock market indicates that the "harvest season" is coming, and the Hong Kong International Financial Center with an additional Japanese yen offshore center chip has more special value in the global capital circulation path.
This point is particularly obvious after everyone has exchanged the strategy of Sir Gao, President of the Hong Kong Monetary Authority, in governing the Hong Kong International Financial Center, and the relationship between High Yield and Wall Street.
It is no longer a secret that Japanese capital, which is currently spending a lot of money, buys and buys all kinds of things in the United States, causing various negative effects such as jealousy, disgust, jealousy, etc., so Japanese capital has increased the use of Heung Kong International Financial Center. The strength of the Yuan Offshore Center mechanism, to put it bluntly, can cover as much and as long as it can.
Conversely, this convenient path can also enter a market, like Gaoyi, enjoy many benefits.
It is no exaggeration to say that after Gao Xian, who has rich experience as an investment banker, switched to the role of the central bank governor, it became clear how to create a smooth mechanism for capital flow, so much so that Wall Street began to do so. Pay attention.
Richard Fisher bluntly stated that since the Hong Kong Monetary Authority led by Sir Gao, as well as Gao Yi, are committed to maintaining the stable position and environment of the Hong Kong International Financial Center, in the next period of time, we will start from the Hong Kong Monetary Authority. While increasing the funds entering and leaving the market, it will definitely not encounter unexpected factors at the regulatory and market level.
The Xiangjiang Market and the Yiben Market are just as easy to follow. You want to cut Yiben’s leeks. I’m just trying to fish in troubled waters. What obstacles do you have to set up!
However, the dignified Sir Gao has always taught principles, and he also put forward his own opinions. The so-called Hong Kong Yen Offshore Center is a book that has been read, and can benefit from it, and then be willing to cooperate. It's too big, causing people to argue, and finally affecting the mechanism. In the end, it still destroys the consensus we reached before. Let's work together to maintain the platform of Heungkong International Financial Center.
"Sir High's concerns are not unreasonable." Richard Fisher nodded, "But the situation of the book will not exceed our predictions."
Having said that, Richard Fisher looked around at the people present, and then slowly continued to say: "Secretly, a book between the Central Bank and the Province of Tibet is at odds, so since Xiangjiang already has the offshore yen The status of the center cannot be easily abolished just by the government's orders."
Richard Fisher doesn't say much, but the subtext is extremely rich, and he understands it naturally, just like the audience at the scene, he can understand it at a bit.
Roughly speaking, in this period, the Ministry of Finance, the official department of the Ministry of Finance, was in charge of finance, finance, taxation, etc. of the Ministry of Finance. Perhaps it is easier to understand with the word Ministry of Finance, while the central bank belongs to the Province of Tibet. However, if the central bank wants to have greater independence and authority, it is best to be like the Federal Reserve, and become an institution that is independent of the prime minister like a revolving beacon. Of course, is it still like the Federal Reserve? Privately owned, a different matter.
In fact, if you look at the "old script" in the late 1990s, a book about the central bank getting its wish, the central bank of England - the Bank of England was also independent from the British government, and so on, you can understand more or less. , What do these central banks want to do?
And if you look at the Hong Kong Monetary Authority under the leadership of Gao Xian, it has become an independent agency like the Independent Commission Against Corruption and the National Audit Office.
Speaking of which, Richard Fisher mentioned that the Central Bank and the Province of Tibet are secretly at odds, which means that the two groups of people are fighting between open and secret wars on fiscal and financial policies. To take a random example, after the Plaza Accord was signed, in the face of the sharp appreciation of the yen, it was not timely and clear how the bank’s interest rate should be adjusted accordingly. It was inevitable that there would be differences between the central bank and the Ministry of Finance.
This situation between the central bank and the Tibetan province is not the most popular tearing situation of Midi, or it is simply one of the various checks and balances that Midi secretly set up in the book, and then like Richard Fisher. If you are a Wall Street tycoon with huge energy, you can start and start, for example, you can successfully sell financial derivatives such as stock index futures.
After understanding these logical relationships, you can understand that what Richard Fisher said is true, and it has enough energy to affect the torn Central Bank and the Ministry of Tibet, and ensure the Hong Kong yen on the capital flow path. Offshore centrality remains unaffected.
How did Sir High react to Richard Fisher's assertion? Just one word, calm, really calm!
To put it bluntly, does Gao Xian really know that there is a secret discord between the Central Bank and the Province of Tibet? In that case, how can he deal with Yiben freely, from signing the Hong Kong dollar-yen swap agreement to establishing the Hong Kong Yen Offshore Center, attracting various consortia to settle in Hong Kong one after another.
Gao Xian pondered: "After all, it is the second largest economy in the world. After years of hard work, no matter how the stock market goes, with its huge economic volume, the yen has become an international currency. It can be said that it has become a general trend. , and I predict that in the future, the yen will play a considerable hedging effect in the global foreign exchange market, the national debt market and other fields."
Speaking of this, Gao Xian increased his tone, "I think everyone knows the mystery of hedging here, so from the perspective of long-term interests, it is best to leave room for things."
After listening to Gao Xian's analysis, these people, including Richard Fisher, all showed admiration. No matter whether this prediction will happen or not, as long as Sir Gao can think of this level, it is enough The sophistication of the president of the Hong Kong Monetary Authority.
In the end, Richard Fisher acted as a representative of all the people present, summed up his position, "We respect the Hong Kong Monetary Authority led by Sir Gao and the governance of the Hong Kong International Financial Center, and wish us a happy cooperation."
"Of course it is a pleasant cooperation." Sir Gao smiled slightly. Even if Wall Street and Hong Kong International Financial Center have reached a balance based on what they want, but this relationship is not expected to be safe forever, even Morgan Stanley can continue to break through. As for my traditional bottom line, when the agreement is not about to be torn up, it becomes a fleeting moment, but it is a good thing to have a few more years of buffer time.
Dennis Weatherstone added, "The Asia-Pacific Economic Cooperation proposed by Sir High will soon be established, and we are willing to help."
Richard Fisher laughed, showing off his control over everything, "Bush has won the election, is forming a cabinet team, and is preparing to take office in January next year. Sir Gao and the Bush family have close personal friendships, and the support from the White House must be indispensable. ."
Sir Gao remained calm, "The Asia-Pacific Economic Cooperation is absolutely inseparable from the United States as a member, and in today's international situation, it is inconvenient for the Big Macs to come forward for many things. If someone is willing to help, of course someone Gao has to keep these human feelings in mind."
In particular, the carnival atmosphere of a stock market indicates that the "harvest season" is coming, and the Hong Kong International Financial Center with an additional Japanese yen offshore center chip has more special value in the global capital circulation path.
This point is particularly obvious after everyone has exchanged the strategy of Sir Gao, President of the Hong Kong Monetary Authority, in governing the Hong Kong International Financial Center, and the relationship between High Yield and Wall Street.
It is no longer a secret that Japanese capital, which is currently spending a lot of money, buys and buys all kinds of things in the United States, causing various negative effects such as jealousy, disgust, jealousy, etc., so Japanese capital has increased the use of Heung Kong International Financial Center. The strength of the Yuan Offshore Center mechanism, to put it bluntly, can cover as much and as long as it can.
Conversely, this convenient path can also enter a market, like Gaoyi, enjoy many benefits.
It is no exaggeration to say that after Gao Xian, who has rich experience as an investment banker, switched to the role of the central bank governor, it became clear how to create a smooth mechanism for capital flow, so much so that Wall Street began to do so. Pay attention.
Richard Fisher bluntly stated that since the Hong Kong Monetary Authority led by Sir Gao, as well as Gao Yi, are committed to maintaining the stable position and environment of the Hong Kong International Financial Center, in the next period of time, we will start from the Hong Kong Monetary Authority. While increasing the funds entering and leaving the market, it will definitely not encounter unexpected factors at the regulatory and market level.
The Xiangjiang Market and the Yiben Market are just as easy to follow. You want to cut Yiben’s leeks. I’m just trying to fish in troubled waters. What obstacles do you have to set up!
However, the dignified Sir Gao has always taught principles, and he also put forward his own opinions. The so-called Hong Kong Yen Offshore Center is a book that has been read, and can benefit from it, and then be willing to cooperate. It's too big, causing people to argue, and finally affecting the mechanism. In the end, it still destroys the consensus we reached before. Let's work together to maintain the platform of Heungkong International Financial Center.
"Sir High's concerns are not unreasonable." Richard Fisher nodded, "But the situation of the book will not exceed our predictions."
Having said that, Richard Fisher looked around at the people present, and then slowly continued to say: "Secretly, a book between the Central Bank and the Province of Tibet is at odds, so since Xiangjiang already has the offshore yen The status of the center cannot be easily abolished just by the government's orders."
Richard Fisher doesn't say much, but the subtext is extremely rich, and he understands it naturally, just like the audience at the scene, he can understand it at a bit.
Roughly speaking, in this period, the Ministry of Finance, the official department of the Ministry of Finance, was in charge of finance, finance, taxation, etc. of the Ministry of Finance. Perhaps it is easier to understand with the word Ministry of Finance, while the central bank belongs to the Province of Tibet. However, if the central bank wants to have greater independence and authority, it is best to be like the Federal Reserve, and become an institution that is independent of the prime minister like a revolving beacon. Of course, is it still like the Federal Reserve? Privately owned, a different matter.
In fact, if you look at the "old script" in the late 1990s, a book about the central bank getting its wish, the central bank of England - the Bank of England was also independent from the British government, and so on, you can understand more or less. , What do these central banks want to do?
And if you look at the Hong Kong Monetary Authority under the leadership of Gao Xian, it has become an independent agency like the Independent Commission Against Corruption and the National Audit Office.
Speaking of which, Richard Fisher mentioned that the Central Bank and the Province of Tibet are secretly at odds, which means that the two groups of people are fighting between open and secret wars on fiscal and financial policies. To take a random example, after the Plaza Accord was signed, in the face of the sharp appreciation of the yen, it was not timely and clear how the bank’s interest rate should be adjusted accordingly. It was inevitable that there would be differences between the central bank and the Ministry of Finance.
This situation between the central bank and the Tibetan province is not the most popular tearing situation of Midi, or it is simply one of the various checks and balances that Midi secretly set up in the book, and then like Richard Fisher. If you are a Wall Street tycoon with huge energy, you can start and start, for example, you can successfully sell financial derivatives such as stock index futures.
After understanding these logical relationships, you can understand that what Richard Fisher said is true, and it has enough energy to affect the torn Central Bank and the Ministry of Tibet, and ensure the Hong Kong yen on the capital flow path. Offshore centrality remains unaffected.
How did Sir High react to Richard Fisher's assertion? Just one word, calm, really calm!
To put it bluntly, does Gao Xian really know that there is a secret discord between the Central Bank and the Province of Tibet? In that case, how can he deal with Yiben freely, from signing the Hong Kong dollar-yen swap agreement to establishing the Hong Kong Yen Offshore Center, attracting various consortia to settle in Hong Kong one after another.
Gao Xian pondered: "After all, it is the second largest economy in the world. After years of hard work, no matter how the stock market goes, with its huge economic volume, the yen has become an international currency. It can be said that it has become a general trend. , and I predict that in the future, the yen will play a considerable hedging effect in the global foreign exchange market, the national debt market and other fields."
Speaking of this, Gao Xian increased his tone, "I think everyone knows the mystery of hedging here, so from the perspective of long-term interests, it is best to leave room for things."
After listening to Gao Xian's analysis, these people, including Richard Fisher, all showed admiration. No matter whether this prediction will happen or not, as long as Sir Gao can think of this level, it is enough The sophistication of the president of the Hong Kong Monetary Authority.
In the end, Richard Fisher acted as a representative of all the people present, summed up his position, "We respect the Hong Kong Monetary Authority led by Sir Gao and the governance of the Hong Kong International Financial Center, and wish us a happy cooperation."
"Of course it is a pleasant cooperation." Sir Gao smiled slightly. Even if Wall Street and Hong Kong International Financial Center have reached a balance based on what they want, but this relationship is not expected to be safe forever, even Morgan Stanley can continue to break through. As for my traditional bottom line, when the agreement is not about to be torn up, it becomes a fleeting moment, but it is a good thing to have a few more years of buffer time.
Dennis Weatherstone added, "The Asia-Pacific Economic Cooperation proposed by Sir High will soon be established, and we are willing to help."
Richard Fisher laughed, showing off his control over everything, "Bush has won the election, is forming a cabinet team, and is preparing to take office in January next year. Sir Gao and the Bush family have close personal friendships, and the support from the White House must be indispensable. ."
Sir Gao remained calm, "The Asia-Pacific Economic Cooperation is absolutely inseparable from the United States as a member, and in today's international situation, it is inconvenient for the Big Macs to come forward for many things. If someone is willing to help, of course someone Gao has to keep these human feelings in mind."
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