Call of the Rothschild family

Gold Rock recently arranged for the chief representative of Rothschild private bank to visit Dongguan to give a real Rothschild family representative a lecture on the traditional private banking business. The first rule of Roche's private banking business was to choose the benchmark currency, which I noticed for the first time. The selection of the benchmark currency as the first financial principles, indicating that money is the largest financial market risk. So their concerns about international issues are also directly related to currency exchange rates, which are fluctuations in exchange rates. The exchange rate volatility of major national currencies against the United States dollar was as high as 30-35% in 2008, while the target of exchange rate stabilization set by the Bretton Woods conference in 1944 was less than 10%. The volatility of the exchange rate increases the risk of the financial market.　　Therefore, the Roche family called for the second Bretton Woods conference to focus on the coordination of exchange rate fluctuations. The theme of the G20 meeting is: Stability, growth, employment. Although stability is in the first place, the issue of currency exchange rate fluctuation which is related to the stable value of wealth is neglected. When people look at the appreciation of the renminbi or the depreciation of the dollar, it seems that exchange rate stability is not a problem.　　However, it is the relatively stable currency exchange rate that determines the value of the wealth of each country directly. The International monetary system, opened by the Bretton Woods Conference, has made a positive contribution to the two post-war global economic stability and development. The system is based on two hooks: one is the dollar-pegged gold; the other is the dollar peg. Later, as gold prices soared and other reasons, 35 of dollars to exchange for 1 ounces of gold conditions can not be maintained. The first decoupling of gold from the dollar, followed by the Fed's policy of not selling gold reserves, is the world's largest reserve of gold. In my opinion, this is one of the important reasons for the continued economic downturn while the dollar has bucked the trend. The dollar and gold decoupled, the exchange rate between the dollar and national currencies also changed from relatively fixed to floating, the rate of exchange rate fluctuations in countries without fixed pattern, but the annual fluctuation of 10% per cent as the rules of the Bretton Woods Conference should at least be the default unspoken rules of countries. Now, this unspoken rule is ineffective, and all economies must face the high uncertainty of exchange rate fluctuations.　　It can be imagined that when people carefully control costs/benefits, if the exchange rate at any time may occur more than 30% fluctuations, the basis for rational decision-making? The Rothschild family is one of the few families in the financial industry. Song Hong's financial wuxia novel "Currency war" made the family almost a household name in China. But the real Luo clan is after the war, the aftermath. The five brothers of the Roche family were in charge of the financial sector in five countries, Germany and Austria. Today, three of the brothers ' industries have vanished. In France, which was later revived by acquiring a Swiss private bank, it now faces a insuring (male heir) crisis-because the Roche family has no precedent for women to inherit property, while the French-Swiss Roche family is Membenjemin, with only two women. Years of experience in the marketplace have made the Roche family aware that money is the greatest risk to wealth and that operating money is a government patent. of currencyThe interest in exchange rate fluctuations is in fact concerned with government responsibility.　　If a currency war is launched as a monetary instrument, one or more of the parties to the war can only be government, not any family or business. Currency is the government's responsibility, exchange rate is a game between the government, a few days ago on whether the government intervention currency exchange rate of a war of rhetoric, is in fact confusing. The US government's criticism of the Chinese government's intervention in the exchange rate appears to be a dream to clarify that it is not interfering with the exchange rate. No wonder Prof Krugman says the U.S. government is lying. The relative stability of exchange rate is the national responsibility of international market. If the G20 conference does not ignore this, it is the partnership to evade responsibility. The so-called reasonable exchange rate, whether it is calculated by purchasing power parity or by any other means, is nothing but an academic battle. Under the objective of stabilizing the economy, the range of exchange rate fluctuations should be controlled by negotiation. The range of exchange rate fluctuations depends first on the concerted action of the Government, followed by the speculative speculation of private equity funds.