This article wants to talk about: Dr. Ren suggested that the central bank print 2 trillion baby helpers, which were sprayed by a bunch of people
(i)
Printing paper is not guilty
The title is the author's point of view, the author roughly looked at the objection of the statement, the reason for the objection is basically 2 points:
- First, young people are so stressed, and they are still trying to force babies
- Second, the Chinese people's bones hate the excessive currency, and feel that the continuous printing of money is the main reason for the continuous rise in house prices
(There are even more radical, scolding Ren as real estate compradors, speaking for the interests of real estate groups)
This time to talk about the author's cognition through current events, the author has always believed:
Printing money = printing paper, the era of anchorless money can not prevent printing money, but the printed money is best given to me
Back to 2 trillion, the author has always admired the political and economic views of Professor Zhai Dongsheng of the National People's Congress, and I will have the opportunity to write it again in the future. To give a brief example of Professor Zhai's frequent citation, readers will experience it:
——Zhai: Classmate, your computer is very good, can you sell me?
——Student: Yes, how much money are you willing to pay?
——Zhai: I didn't bring RMB, so I issued Zhai coins with my own credit, how much Zhai coins do you think I should pay?
——Classmate: (I think Zhai coin does not know what it is like, but at least there is a professor's credit endorsement, first shout high) Then I will sell you 100,000 Zhai coin.
Zhai: Okay, give you 100,000.
Professor Zhai's Zhai coin can be printed indefinitely, but he reaps the benefits of this classmate.
Now the state gives 2 trillion yuan to young people, which is equivalent to young people taking a check paper and writing 2 trillion yuan, reaping the benefits of whom? Is it the 60s and 70s who can't give birth to babies?
The post-60s and post-70s have enjoyed the wealth appreciation brought about by the increase in house prices, and are they reaping the benefits of young people who cannot afford to buy a house now?
Printing money reaps the benefits of cash holders.
The way to hedge against cash depreciation is to increase debt, the cheaper the money the better, and the longer the borrower, the better. If you're saddled with a mortgage, you should strongly support the money.
Take a message from Buffett's 4 consecutive years of yen bonds.
Buffett: "The interest rate of Yen bonds is unbelievably low, and it only takes 1-2% to issue bonds in Japan, so I think I should be able to achieve a yield of more than 1-2 points" (Note: Japan implements negative interest rates)
(ii)
Monetary basis
In 1971, after the Abolition of the Gold Standard in the United States, what was the dollar, "isn't it the In God We Trust printed on the back of toilet paper"
Before 1971, the Bretton Woods system, the dollar was pegged to gold, and world currencies were pegged to the US dollar.
After 1971, the endorsement of the US dollar is the US sovereign credit, and now the US dollar accounts for 40% of the world's currency payment, and the release of water is to harvest the interests of people who use the US dollar around the world
(Note: THE RENMINBI only accounts for less than 2%, so we release water, can not collect seigniorage tax to the world, can only collect from the national savers, before the 10,000 yuan household scenery, if the 10,000 yuan household thought "just deposit in the bank to eat interest", then he must be very regretful now)
If you want to understand the amount of money printed in the United States, look at the Balance Sheet of the Federal Reserve, the unlimited release of water in 2008 is about 2 trillion, and now it is about 9 trillion...
I'll give you another example, silver
Precious metals such as silver can be regarded as stable currencies (after all, mining where there is fast printing money), the United States printed money for more than 10 years, and the Fed balance sheet expanded by about 4 times in 10 years (the Expansion of the Fed's purchase of bonds is equivalent to injecting liquidity into the market, and the amount injected is equivalent to how much is printed)
Silver 10 years on the contrary, suppose there is a country called A country, they use silver as currency, they talk about credit, do not indiscriminately print money, hard work, honestly save silver.
What can be obtained, and aren't their benefits reaped?
Thinking that the Qing Dynasty used silver, and the war reparations were also paid for silver, this is another story, involving the gold standard, silver standard, gold and silver double standard at that time, the next opportunity to write.
(iii)
Fight against printing
After writing (ii), I basically finished the author's support for Ren Bo, which is equivalent to simply talking about Professor Zhai's views.
Finally, I would like to write some advice from Professor Zhai to young people:
- Loan, the cheaper the loan, the better, the longer the better
- Hold assets and buy the best assets in different countries in different countries
- Especially scarce assets, antique calligraphy and paintings, Moutai and so on
(Note: Investment is risky, Professor Zhai of course also said that the United States will buy US stocks, but we must also pay attention to the valuation of assets)
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