Chapter 1484 Nothing that can’t be talked about

Jamaica has been independent in nineteen sixty-two, the capital city of Kingston has been ready to meet the noble guests of various countries, of course these represent the strongest countries in the world, itself come to Jamaica, and Jamaica itself has little to do with the existence of Jamaica, but rather to formulate a replacement for the Bretton Woods system of international monetary system.

Soon after landing, Prime Minister Harold Wilson and Chancellor of the Exchequer Callaghan, were warmly received by President Rockefeller, the post-Nixon President of the United States, and Secretary of State Kissinger.

“Honorable Prime Minister and Secretary of the Treasury, this time we are all committed to a fairer monetary system and strive to satisfy all countries.” Just met Rockefeller expressed friendliness, after Nixon stepped down because of the Watergate scandal, became the succeeding president, coinciding with the outbreak of the oil crisis, was criticized by the Democratic Party.

Unsurprisingly, according to the current situation, Rockefeller should have no chance of re-election, regardless of whether it is biased in favor of the Republican Party or the Democrats, the polls believe that the Republican Party defeat has been determined.

Of course, to say that Rockefeller did not get anything that is certainly a lie, is not Rockefeller’s oil system did not make money?

Is it possible that the British and American banking groups, including Citibank, did not get a huge amount of benefits in the oil crisis?

Alan Wilson expressionless look at the heads of the United Kingdom and the United States, showing the special relationship between the United Kingdom and the United States, the heart can not help but regurgitate, the new monetary system is bound to be established, but more fair on the inaccurate.

Once the dollar is not pegged to gold, then naturally can be unfettered unlimited money printing, that the United States is not like a wild horse out of control to open the money printing machine. As long as the U.S. has trouble on the printing, of course, in theory, countries can do so, depending on whether others are recognized.

The United States is bent on getting rid of the Bretton Woods system, precisely the embodiment of the hegemony of the dollar, the Bretton Woods system, the United States is still subject to constraints, this time it is not so easy to be constrained.

The U.S. can issue dollars at will and implement a floating exchange rate system, and the dollar is no longer a dollar, it is the U.S. dollar, a credit currency.

After both sides sat down, Kissinger directly expressed the sincerity of the American side, “As a matter of fact, in the future, London will become the largest trading market for gold. New York will cede that crown to London, and gold will naturally be priced in pounds; gold is naturally money.”

“Mr. Secretary of State, after the demonetization of gold, what is the use of the pound sterling to price gold? Or does Britain continue to be on the gold standard? It is not impossible, in recent years London trading grain, gold reserves have reached six thousand five hundred tons, the Federal Reserve is less than eight thousand tons, right?”

Alan Wilson smiled and asked rhetorically, “In fact, the French also recognize the value of gold, has been looking for London to talk about, want to be within the scope of Europe, to create a new currency to circulate, what do you think of this proposal?”

“Sir can really joke.” Kissinger replied with some embarrassment, “The British angle is perfectly transcendent, rather than condescending to adopt some currency package with the French.”

“The reasoning is such a good one.” Callaghan nodded, then the conversation turned, “But as a matter of record it’s not much of a stretch, it’s mostly up to the French what they can offer. For example, if the new currency is still monetized in gold, store Europe’s gold in London, and both sides maintain a fixed exchange rate, don’t you think so?”

Once Callahan’s proposal succeeds, Europe will essentially have nothing to do with the dollar, and there’s no doubt it’s a dig at the dollar.

The new currency can also be called the euro, the euro with the British pound as an anchor, then Europe and the United States will become two economies, the United States control of Europe, in the economic field will be cut off, the United States is in a similar situation as the Soviet Union in Eastern Europe, can only be controlled by military means to control Europe.

“The rarity of gold, used to peg it to a currency is already impractical, and if London does this, it will only consume the gold in its hands. It’s like France under de Gaulle.” Rockefeller wiped his glasses and spoke without hesitation, “And it would only give the Soviet Union an advantage. The beauty of a sovereign currency is in the power of speech; if we don’t recognize the value of the ruble, it has no value at all.”

“The main question is in whose hands that voice lies.” Harold Wilson, ever since he was troubled by the Soviet spy remarks, as soon as he heard someone mention the Soviet Union to his face, he always felt that the other party was connoting him, although it was a bit bad to be so skeptical, but he had gotten used to it all.

He is the prime minister is to Zurich’s gnomish speech fame, if he came over to participate in a meeting to throw the value of the pound, that will simply affect his reputation after death, not to mention that now the British hand is not without cards, can be completely and the United States around.

In fact, the American mind still need to guess it, is when in the Bretton conference, the British representative Keynes expounded the British position, binding commodities. After thirty years, now is the United States so proposed.

Words to this point, there is no need to hide anything, Rockefeller hopes that Britain can work with the United States to promote the establishment of a sovereign currency system on credit. Support the dollar to become the de facto international currency, in return, the United Kingdom’s London will become the financial center of Europe, the status and the United States of America New York side by side.

“The dollar should be tied to commodities to solidify value, especially oil, which Saudi Arabia recognizes.” Kissinger said the U.S. already had the support of the Saudis, and the U.S. itself is the world’s No. 1 industrialized country, with energy and production capacity, which would have been logical.

“I don’t really agree with the Secretary of State, if we’re just comparing production capacity, it seems like the United States is now lagging behind the Soviet Union in most of the numbers.” Allen Wilson took out the year 1975, the Soviet Union’s national economic statistics, of course, this is not important, his next words are more important, “compared to the production capacity, the European Community member states together, than the United States is still higher, I’m not wrong, right?”

Alan Wilson’s words are fully supported by data, steel and coal, automobiles, textiles, machinery manufacturing, etc., etc., Europe is not weak, the weakness is the energy sector. But if Britain is on Europe’s side, Europe is not weak in this field.

“The United States is protecting Europe, and I think London understands this best.” Kissinger spoke calmly, “I think most Europeans recognize this as well.”

“Except France!” Although Alan Wilson was nodding, the words definitely did not mean that, once again pulling dubious allies out as guns at a critical moment.

Alone on the comparison of steel production capacity, Britain, France and Germany, not counting British Malaya, the capacity of eighty to ninety million tons, and the United States is within a hair’s breadth of the United States.

Now the steel production capacity of more than a hundred million tons of countries have three, the United States, Japan and the Soviet Union, but there is more than just Britain, France and Germany in Europe, Luxembourg, there are still five million tons of it, not counting Italy, Italy’s industrial data and the United Kingdom is almost the same, and there has been disobedient to Italy’s Spain ……

In fact, Britain in terms of production capacity, in Europe is in the back of Germany and France, the reason why the economy is better than these two countries, the reason is that the pound is far more powerful than the franc and the mark, at this time first not counting the role of Malaya.

Another venue, the United Kingdom and the United States representatives for a heated exchange, expressing their views on the international monetary system, “Britain must have twenty-five percent of the Special Drawing Rights, Britain, France and Germany to occupy fifty percent of the Special Drawing Rights, in fact, the French asked for fifty-five percent. Because many countries had just become independent and had very little financial knowledge, it was not recommended to change the monetary system in circulation there. The existence of the sterling and franc zones is irrevocable for a short time.”

“This is impossible, the power of the developing countries, especially the oil-exporting countries, must be increased accordingly, and if the sterling and franc zones still adopt barriers to prohibit the free circulation of currencies, the current share is simply not enough to divide, and the scale of Japan’s industry is not at all to give equity is very inappropriate.”

“What is inappropriate, Japan that country are in need of other countries to protect.” Alan Wilson walked into the venue of the formal negotiation, “In this way, since rights and obligations must be linked, I suggest that Japan increase its military expenditure to three percent, and establish its own land, sea and air system alone, so that it can play a greater role in the defense of the free world. Only then will the corresponding distribution take Japan into consideration.”

The American representative frowned slightly and said, “So it’s Sir Allen, but Britain is in favor of Germany obtaining the corresponding power, so if Japan is excluded alone?”

“Germany is a European country, Japan is not. With long black hair and eyes, it’s not a civilization with us either.”

Alan Wilson explained the British position slowly, somewhat racist, but true, “If France and Germany knew that Britain had come a day early and was negotiating with the United States, they would be spreading talk again that Britain could not represent Europe.”

“The pound is legally freely convertible in Commonwealth countries.” Alan Wilson walked next to the British representative, this representative directly gave up his seat and Alan Wilson sat down and said.

“So it’s the husband of the oil tycoon.” William Edward Simon also walked in, as the U.S. Secretary of the Treasury he was in the oil crisis broke out after the visit to the Arab countries, hoping to run the petrodollar, but the biggest obstacle is the major British banks, looking for the source eventually found a series of British banking groups, including the Sarawak Development Bank on the body.

“The oil crisis doesn’t seem to be a bad thing for Britain, and it also took the opportunity to use the oil spike as an excuse to hold countries hostage to come up with a resolution at the Commonwealth meeting, recognizing that their currencies and the British pound are freely convertible.”

“This? Isn’t it the same purpose as the current US?” Alan Wilson made an embarrassed face, but actually didn’t mean it at all, “It’s just a matter of sharing the risk together. The economy is fragile and deserves to be carefully maintained by the member states.”

Book of 100 Allies

“But if the majority of countries feel that this deal is a loss, then it may not be possible to gain consensus, Honorable Minister of Finance, do you think so?”

Isn’t that what you learn from the French when you sign an agreement with a Commonwealth country for the free exchange of local currencies and the pound? The French that was forcing African countries, the UK didn’t force Commonwealth countries, it just took advantage of the oil crisis to make a proposal.