The news that Nixon and the United States stopped fulfilling the obligations of foreign governments or central banks to exchange U.S. dollars for gold in the U.S. stunned bankers in various European countries. Although they had been prepared in their hearts, this obvious default actually occurred.
It still gives a wake-up call to all participating countries.
In fact, this is considered the disintegration of the Bretton Woods system. If the U.S. dollar cannot be converted into gold, then why do countries reserve U.S. dollars? Where is the value of the U.S. dollar reflected?
"It's simple, buy American private gold. Although the private gold stock is definitely not much, it is better than nothing. It is best to be quick, otherwise the United States will find this loophole and fill it immediately." Alan Wilson was not surprised.
It has long been expected that the United States will not really watch its gold reserves be wiped out.
So what if we breach the contract? Can you defeat the United States? Since you can't, we can only let it go. The world is a reality after all, and it is wise to start from a position of strength.
"Nixon said it so simply." Pamela Mountbatten still hadn't recovered and said in disbelief, "Just so directly, he abolished the right to exchange gold. Now there are 70 to 80 billion US dollars in funds.
The influx into the United States does not count as U.S. debt, but he dares to simply default on the debt."
"Maybe it won't be so straightforward. The United States will give a special explanation over time, but it will still default on its debt in the end."
Alan Wilson explained, "All the gold in the world combined cannot convert 70 to 80 billion U.S. dollars. What can we do if we don't default on the debt? Now it is more serious to quickly transport the exchanged gold back, and then follow the market price
Scan items within the United States.”
Although Nixon cut off the mess quickly, he would definitely find an opportunity to explain in the face of the surging accusations. Alan Wilson thought for a while and said, "It's time to find some representatives of the Middle Eastern royal family to come to London as guests. After finishing the matters at hand,
Did I make the invitation or did you make the invitation?”
"I should take care of business matters!" Pamela Mountbatten knew that it was more reasonable and reasonable for her to come forward than her husband who was in public office.
"Okay, then come and have a good talk with them, especially Bahrain and Qatar. They have a small population and are easy to bribe. I will assist you then. After all, we still have troops stationed in the Persian Gulf. We will offer an extremely generous offer.
If the conditions are met, it will definitely not be a problem to reach an agreement." Alan Wilson looked at the time and saw that the time when Nixon announced the stop of converting gold was one year earlier than originally planned.
Alan Wilson lamented that an era was over, and the United States was finally unable to withstand the massive return flow of international dollars and was overwhelmed. In fact, the headquarters of the international dollar is London. London has been an international financial center for two hundred years, and it is also the center of the Eurodollar.
Distribution center. The so-called international dollar is actually the European dollar.
The reason why the UK can choose to stand aside is because of this. The Bank of England stipulates that the British are not allowed to buy foreign bonds, unless they are US dollar bonds for "real investment" purposes in the strict sense: in these two strictly isolated markets, the UK
The British pounds held by people and the U.S. dollars held by foreigners are not in conflict with each other.
Foreigners can do whatever they want in the completely unregulated U.S. dollar capital market, and all activities in this market will not affect the British domestic capital market at all.
The so-called real investment of U.S. dollars is actually not a problem for British bankers. Any provisions are to prevent ordinary people, not the real public servants of the people.
Nixon will definitely give an explanation. Of course, this explanation is almost equivalent to the fact that Britain promised Kissinger that it would work with the United States to deal with it and then did nothing.
Nixon's explanation was just to appease the European countries' sense of betrayal afterwards, and it had no more effect than that.
However, it is not necessarily true that now is the best time to start from a position of strength. The pound area has not been defeated, at least not completely, and the US dollar is far from being able to dominate the world.
Alan Wilson is waiting for MI6's information on the industrial assessment of European countries. Can it really be what people think in the future, you have it and I have it? If Europe can be like a big country, all countries can unite to achieve basically all-round development.
Industrial chain, then the problem is simple.
To be honest, Alan Wilson is calculating the opening time of a certain big country, trying to find a place for the pound that is under appreciation pressure in the next few years. The UK certainly cannot allow the pound to appreciate quickly. The capacity of the pound area is no longer as large as before, let alone
Whether it is appreciation or depreciation, if the rate is too fast, it will have an impact on the local area.
Isn’t there a saying in later generations that the soft sister currency will lose when it appreciates, and the soft sister currency will lose when it depreciates. Regardless of whether it appreciates or depreciates, the country must be given an adaptation period.
Nixon's announcement of the closure of the gold exchange channel has caused strong reactions in European countries, but Alan Wilson acted as if nothing was wrong and was ready to talk to the German guests about future development. This is also a physical job, but as Cabinet Secretary-General, it is also a physical job.
have to do.
Today's Germany is not the same as it was twenty-five years ago. In an era when the Reichsmark was a waste of paper, cigarettes played the role of currency, and the U.S. military naturally became a stranger to this most scarce monetary commodity.
They bought cigarettes from the military supply agency for one dollar a pack, which could be exchanged for various gold and silver jewelry worth thousands of Reichsmarks in the market. The U.S. military exchanged cheap cigarettes for the Germans' precious Leica cameras and grand pianos.
If he hadn't solved the urgent need for the Germans, the Americans would have hollowed out the defeated Germany with just cigarettes. If you don't believe it, ask someone from the Heilmann family if that's the case.
The largest post-war settlement year for the British pound was in the early post-war period. Of course, the same was true for the United States. The United Kingdom rested on its laurels and occupied 40% of the settlement share. The U.S. dollar relied on the United States' gold reserves to surpass the British pound and occupy the world's largest share.
Fifty-two percent of the settlement share. Now, twenty-five years later, the world is completely different.
This chapter is not finished yet, please click on the next page to continue reading the exciting content! France and Germany have recovered, and Japan has developed based on its population advantage. Both the US dollar and the pound have retreated to varying degrees. The UK should both
Thanks to his hard work, the original historical pound has dropped to 20%, and is still shrinking. The settlement ratio has already reached a death cross with the mark.
After the franc suffered a heavy blow early on, the mark has become stronger and stronger and has become the main rival of the European pound. Not to mention that the Federal Republic of Germany is already the second economic power in Europe.
"After this cooperation, it seems that Mark will soon become the opponent of the pound." Alan Wilson lay on Bokina's lap with his eyes slightly closed. "I believe that many German bankers are celebrating now. Mark has always
None of them account for such a large share of dissolution, maybe the glory of the Fourth Reich is already around the corner."
Bokina's face suddenly turned cold, and Alan Wilson apologized with a smile, "Dear, I was wrong. This is just a metaphor. It doesn't mean anything. That's what it means."
He suddenly forgot that the dragoon in front of him was actually Mao Mei. He felt instinctively uncomfortable with the metaphor of the Fourth Reich, so he quickly apologized.
"There are indeed many people who are very happy!" Pokina was not too harsh and said that what the man on her lap said was true. The Germans are indeed full of expectations for the Mark's status in Europe. Use Germany's economic strength to expand the Mark's status.
Influence is what many people think, "But since you're here, I'm sure it's not that simple."
"Since you think Mark has no enemies, you can try buying oil from Iran. Germany has a good relationship with Iran." Alan Wilson curled his lips and said, "Let's see what the consequences are. To be honest, I am also looking forward to it.
, I just don’t know if Pahlavi has the courage.”
The pound can buy oil. That is purely a historical issue. It does not mean that the mark can do the same. Anyway, as soon as Saddam, the political strongman of Iraq, leaked the news, the US military came to the door.
Although Alan Wilson is a key player, he doesn't know if the Germans tried it during the Cold War. He suggested this in an almost encouraging tone. Wouldn't it be better if it was hammered by the Americans?
"You are really full of evil." Pokina bent down and stared into the man's eyes, then stood up again and hugged the supremely authoritative smart brain, using her snow-white thighs to wrap her around in a death coil.
As a result of the United States' default on its debts, ambassadors from various countries have become the busiest people, and they have been engaged in activities to calm the anger of various countries. Paris, Bonn, Bressel, Armstrong, and Stockholm all have American ambassadors in the dust.
This is very disrespectful to the UK, because the ambassador to the UK did not come forward to express his apology. It is not the UK's fault that he did not save the country. Even if the UK joins, it will not change the final result.
Alan Wilson also has something to say. The United States' defaulting on its debts has caused chaos in the London trading market. Shouldn't the Americans express their apology?
"Is the loss in the London trading market overestimated? Three hundred million pounds?" Alan Wilson asked Frank suspiciously, is there something fishy in this?
"Secretary General, many losses are intangible, market confidence, investors' hesitation, long-term losses far exceed 300 million." Frank spoke sternly, saying that not only was there no exaggeration, but he also tried his best to take into account the assessment results to maintain market confidence.
Got it, loan out the long-term losses first! It’s the same as Ukraine’s total economic volume is only over 100 billion, but it claims to have lost 600 billion US dollars.
"Well, we did suffer huge losses, and the Prime Minister also needs such a thing to deal with possible accusations from the opposition party." Alan Wilson also acknowledged the loan loss and prepared to transfer it directly to the Prime Minister in case of any emergency.
The UK's economic growth this year is not as good as expected, and there is another excuse to shirk responsibility.