Return To 1977 Chapter 572: Foreign exchange coupons
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Unlike the numb and ignorant people of this era, Hong Yanwu is super sensitive to news about foreign exchange and real estate.
After the news was released, he has been paying attention to the relevant progress and found relevant articles in all newspapers. He even went to Song's house to talk to Director Song and borrowed his "Reference News".
What’s interesting is that through this incident, he even gained amazing additional gains. That is when he discovered that his father had been hiding his clumsiness for a long time, but actually had an unusually sharp vision and a foresight that was beyond anyone's reach.
To be honest, even though he knows the development and true direction of history, he still feels a little ashamed when compared with Hong Lucheng. Because he only knows the appearance but not the truth, but Hong Lucheng has the ability to see the essence through the phenomenon.
The specific situation is this. One afternoon, when Hong Lucheng got up from his nap, he saw Hong Yanwu in the main room, looking through the piles of newspapers piled high at home.
The old man went out to buy things for his family without saying anything, but he didn't expect that when he came back after buying things, an hour had passed and Hong Yanwu was still rummaging around. Moreover, there are already several newspapers of different titles lined up on the Eight Immortals table in the main room.
Hong Lucheng went over to take a look curiously, hey, it was either news about foreign exchange certificates or explanations of real estate policies. He was even more surprised and had to ask. "Why are you looking at this?"
Hong Yanwu didn't take it seriously and replied jokingly. "Dad, I said I was looking for change. Do you believe it? Just leave me alone..."
Unexpectedly, Hong Lucheng immediately closed the door, and then gave Hong Yanwu a very serious warning.
"Third brother, let me tell you. You are not allowed to do this!"
As the light in front of him dimmed, Hong Yanwu couldn't help but raise his head. When he saw his father's reaction, he was shocked again.
"Dad, what are you talking about? What do I want to do?"
"Don't be careless about me. After Xiao Tang's incident happened, I was afraid that you would feel uncomfortable so I didn't ask you. Today is a good day. You can tell me the truth. Is it your business to resell electrical appliances? Son? Are you eyeing foreign exchange coupons again?"
As he spoke, Hong Lucheng picked up the newspaper on the table and slapped it hard, then rushed the conspicuous news item towards Hong Yanwu.
"You said it's all about your generosity in spending money and your plan to get those two books of stamps. Can I believe it if you continue to say that you didn't have such thoughts?"
Hey! The old man’s eyes are so poisonous! The secret has long been revealed!
Hong Yanwu was stunned for a moment, and quickly turned his eyes to speak. But I haven’t thought of an excuse yet. His father was the first to exit again.
"You should think about it before you talk. I am your father, and I have been familiar with you making up lies since you were a kid."
Well, what else can you say? This is already considered certain!
Seeing this scene, Hong Yanwu could only sigh helplessly. "If you say yes, that's it."
But as soon as his mind changed, he pretended to be respectful and invited Hong Lucheng to the chair, and then asked with a sly smile.
"Dad, tell me. Why can't I do it? This is a good thing..."
Hong Lucheng was unhappy when he arrived. "What's going on? You're going to test me against your own army? Don't I know what this is?"
Hong Yanwu quickly put a hat on his father's head. "Look at what you said, that's not what you meant. I just want you to tell me. I think there may be a gap in our understanding. Besides, I also want to learn from you."
Hearing what he said, Hong Lucheng did not refuse. He just raised his hand and picked up the tea cup to signal.
Hong Yanwu understood immediately and quickly went to make tea and water for his father.
Not to mention, what Hong Lucheng said next was really a blessing for Hong Yanwu. It really made him gain a lot of knowledge and experience.
Because although Hong Lucheng is not like Hong Yanwu, he already knows the direction of history. But after all, the Hong family was once the major shareholder of "Salt Bank" and "Central South Bank", and was also a major customer of foreign banks such as Citigroup, Chase, and HSBC.
When Hong Lucheng was young, he received a lot of teachings from two national bankers, Yue Qianzhai and Huang Yizhu. And later on, he relied on his true skills to escape the "devaluation of legal currency" and the "loot of gold yuan coupons". How could he not understand what the foreign exchange certificate was about?
The old man first pointed out the general trend of the upper class pointedly.
After reform and opening up, the country must do business with the outside world. However, the country’s current foreign exchange reserves are less than one billion US dollars. How can it do business with the outside world? Therefore, encouraging enterprises to earn foreign exchange and controlling foreign exchange have become a top priority for the country. This foreign exchange coupon is a means of managing private foreign exchange based on the experience of overseas remittance coupons.
Hong Lucheng then pointed out the advantages and essence of foreign exchange coupons.
According to him, foreign exchange coupons have advantages over overseas remittance coupons. First, there is no limit on the period of use. Second, they have currency properties and can be exchanged for foreign currency at the official price. To put it bluntly, this thing is equivalent to the gold and silver coins of the Republic of China. As a standard with international covalency, it serves as a peacemaker-like bridge between foreign currencies and domestic currencies.
He then pointed out the profits and future prospects contained in foreign exchange certificates.
Just like in the past, there were countless "silver dollar exchange" stalls on the streets and hawkers wandering alleys doing this business, although in people's eyes, they were only doing sporadic businesses that banks didn't like to do, and they made small profits. But I have never heard of anyone being compensated. From this we can see how much profit there is.
As for this initial liberalization, because our country is in urgent need of materials and technology, there is a lot of external demand, and when people's economies are developed, they have less to ask for from us. This means that they are not equal to each other and will not change for a long time. As the saying goes, rushing is not buying and selling, so the current exchange rate will be difficult to maintain. The RMB of the Republic will inevitably be "mao".
Why did people in the past always exchange their local currencies for silver dollars and gold? Some people say that "gold in troubled times" is easy to carry and escape. In fact, it is not simply that. Those things are quite heavy and are not as convenient as banknotes. The same is true if you have US dollars and pounds, and you can exchange them in other places. The key is that because it is weak internally and strong externally, people are willing to save some to prevent the currency from depreciating.
Finally, this is the danger behind the benefits of foreign exchange certificates. Not only is it similar to what Hong Yanwu thought. Moreover, Hong Lucheng's definition is particularly accurate.
He said that although major changes in society often mean major opportunities to make money. But some money cannot be earned. The current policies are too strict on private control. For example, foreign exchange is related to the country’s financial order and the country’s future development, and is more important than planned supplies. To put it bluntly, anyone who dares to exchange and profit privately is committing the most serious form of speculation. Isn’t that just asking for death?
Hearing this, Hong Yanwu, who knew what would happen next, could no longer hold back his admiration. Admired sincerely.
"Dad, you are really amazing, you are so knowledgeable about this stuff! Many of my vague questions suddenly became clear after you said this. You are an extraordinary businessman of this generation. ! ”
I just admire him, but he still has something to say later.
"But I still have a question. Only by exchanging and exchanging can I make a profit, right? What about speculation? First it is speculation, and then there is also speculation. But what if I only exchange but not exchange? For example , I exchange some foreign exchange coupons to buy things at the 'Friendship Store', is this considered a violation of the law?"
Hong Lucheng couldn't help but falter after thinking about it. "Then...it probably doesn't count...what...what do you mean?"
Hong Yan was armed as if nothing was wrong, and he repeatedly patted his chest to assure himself. "Dad, don't worry, I promise not to do anything speculative. In fact, I just want to exchange some foreign exchange certificates for myself and buy some fashionable products. Isn't this enough?"
That's it, Hong Yanwu was able to trick his father into getting through the matter of foreign exchange certificates. Hong Lucheng really didn't know what kind of ambush his son was preparing for him.
Hong Yan is a very good martial artist. In fact, since he planned to do this, he has been thinking about how to hide and seek with the laws and regulations.
Then it’s still a change of soup but not medicine, it’s the same as the “home appliance indicators”. He would not engage in the business of buying and selling foreign exchange bonds. It would be too eye-catching and too dangerous.
And his idea is to "save the country through curves." I planned to exchange the foreign exchange coupons and hold them in my hands, then wait for someone who needed the goods in short supply to show up, finally negotiate a price, and then buy the goods and resell them.
After turning a corner in this way, what is passed is the commodity, and the risk is greatly reduced. Even if he is caught by the police while exchanging foreign exchange certificates, he cannot be said to be speculating. Because he didn't take out any food, he only used it for himself.
But, down to the root, isn’t the reason why foreign exchange certificates are valuable just because they can buy things that many people can’t buy? Essentially, everyone still needs something. In this way, not only can you earn a lot of money, but also more money.
As for his discussion with his father, he was indeed surprised. Hong Lucheng's explanation not only gave him a complete understanding of what foreign exchange coupons are and what they do. He also gave him a heads up on foreign currency trends. He immediately remembered that the devaluation of the RMB started this year.
That means he is not a second-rate dealer, and trying to exchange foreign currency is also a sweet business to make money while lying down.
Do it! Why not! As long as you use the right people and plan carefully. He didn't believe that anyone could catch his painful foot.
From this moment on, Hong Yanwu made up his mind to completely withdraw funds and manpower from the "Dongfeng TV Factory", and then let the "little wife" and his wife focus on the foreign exchange coupons.
To be honest, TV tickets over there have gone up so much that they have to occupy funds and warehouses. In comparison, this is a really convenient and profitable big business.
Poaching socialist corners? No, he doesn't think so. The emergence of this "privileged currency" is unfair and unreasonable. Only by realizing a market economy as soon as possible and accelerating the pace of market opening. That's the key to solving the problem.
Otherwise why were the foreign exchange certificates automatically abolished soon after the bills were withdrawn from circulation? Won’t the crime of speculation be abolished in the future? Even the country believes that this crime is not established. This is called error correction.