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History is like a little girl. If it is strong enough, it can be

The real history is not caused by the New Deal. The content of Zhao Gang's new policy is just an improvement of previous policies and an increase in efforts to implement them. It will not really change the situation of the Great Depression. What really changes the situation of the Great Depression was the massive invasion of the Rothschild chaebol.

Within a few years, 600 billion yuan of hot money poured into China, which almost accounted for 4 of the world's GDP that year. Short-term speculative funds that pursued the highest reward and flowed rapidly in the international financial market with the lowest risk. The characteristics of hot money are generally as follows.

1. High returns and risk. Pursuing high returns is the ultimate goal of hot money in the global financial market movement. Of course, high returns are often accompanied by high risks, so hot money earns high risks. They may make money in this market and lose in that market, or make money at this time and lose at that time, which also gives them the awareness and ability to bear high risks.

2 High informatization and sensitivity. Hot money is the darling of the information age. It is highly sensitive to the current economic and financial situation and trends of a country or the world, to exchange rate spreads, interest rate spreads and various price spreads in various financial markets, and to the economic policies of relevant countries, and can quickly reflect it.

3 High liquidity and short-term. Based on high informatization and high sensitivity, they can quickly enter if they have money to make money, and if they escape instantly if the risks increase. They show great short-term, or even ultra-short-term, and quickly enter and exit within one day or a week.

4. Investment sites are highly virtual and speculative. Hot money is an investment capital. It mainly refers to their investment in global securities markets and money markets in order to make profits from the daily, hourly and minute price fluctuations of securities and money, that is, "making money with money", which has a certain lubricating effect on the financial market. If the financial market does not have risk preferences such as hot money, risk aversion will not be able to transfer risks. However, hot money investment neither creates employment nor provides services, and is extremely virtual, speculative and destructive.

Rothschild's hot money has the ability to revitalize or destroy a country's economy. In most cases, what this chaebol does is to force the country's economy to rise and then lower it heavily at its peak. This chaebol, which actively seeks to gain benefits as its main purpose, is actually the public enemy of everyone.

Since it is purely a short-selling speculative behavior, it does not produce any output, but is just a pure digital game, it is different from other investments. Therefore, as a strong man in the financial industry, Jews have been discriminated against or even persecuted by Europe, which is not unreasonable. The problem of Jews is only one. As long as it can survive safely, others must have been exploited. In other words, the Jewish business philosophy is too violent and contrary to the interests of the vast majority of people. There are not many ways to cut off this black hand. Only by allowing the appreciation of the currency to fluctuate significantly or implement foreign exchange controls can this flow of speculative funds be prevented.

Although we already know the approximate scale of hot money, it is not easy to identify the flow of hot money. Six hundred billion hot money is not kept in the bank. Some long-term capital can also be converted into short-term capital under certain circumstances. Short-term capital can be converted into hot money. Following the conversion will make it difficult for the most professionals to find out the problem.

First of all, the incoming hot money has caused a false prosperity to fuel the economy. Judging from the current situation in China, while betting on expectations of RMB appreciation, hot money is taking advantage of the opportunity to constantly look for arbitrage opportunities in other markets such as the real estate market, bond market, stock market and other markets. The most obvious one is the real estate market.

In the past two years, China's real estate prices have risen sharply, and the national real estate prices have increased by more than 12%, far exceeding the consumer price index. Especially in some big cities such as Beijing, Shanghai, Hangzhou, and Nanjing, real estate prices have risen by more than 20%, or even 50%. 1934 Strict macro-control has not curbed the sharp rise in housing prices.

Therefore, it cannot be ruled out that some arbitrage capital has entered China's real estate market. One of the important reasons why real estate developers are unwilling to lower prices is that they have fantasies about international hot money, and one of the important reasons for attracting international hot money into the Chinese real estate market is that the RMB has appreciated significantly.

Secondly, hot money entered a large amount. Increased the scale of foreign exchange deposits, affected the normal operation of monetary policy, disrupted the normal operation of the financial system, and aggravated the pressure of domestic inflation. In 1934, the base currency was injected to more than 260 billion yuan. According to the inflow of hot money of USD c, there were more than 200 billion yuan. Therefore, the amount of heat was only the same. This forced the central bank to use central bank bills to forcibly offset the open market. The central bank alone issued nearly 1.5 trillion yuan bills to hedge, which greatly increased the central bank's operations. This also caused the initiative of China's monetary policy to decline, and the effect of monetary policy was greatly reduced, which increased the pressure on inflation.

Again, hot money inflows artificially increases the pressure on the appreciation of the RMB from the outside world. China's current exchange rate system and the continuous depreciation of the US dollar can attract hot money. Therefore,

The expectations of RMB appreciation remain unchanged. As the inflow of hot money increases, the RMB will rise more. Finally, the outflow of hot money will also cause severe economic fluctuations. As the Federal Reserve raises interest rates, the increase in US dollar interest rates increases the attractiveness of the US dollar. In addition, the uncertainty of expectations for RMB appreciation increases. If hot money flows out rapidly on a large scale, it will cause some market prices with a larger speculative atmosphere to fluctuate significantly, such as the rapid decline in real estate prices, bond prices and stock markets fluctuate significantly.

If all the hot money withdraws from China at this time, then China has lost this time, because this hot money has earned about 100 billion yuan, the Rothschild chaebol believes that China's prosperity will continue until the 1936 Nanjing Olympics, so it has been delayed in making a decision and giving up the bait in its hands.

This is equivalent to putting the noose around the neck, and the financiers' greed and they embarked on a path full of bitterness. A path of no return!

On July 12, 1935, China's "Opinions on Adjusting the Housing Supply Structure and Stabilizing Housing Prices" was issued, which gave the Rothschild chaebol a heavy blow:

(1) Formulate and implement housing construction plans. Focus on developing medium- and low-priced, small and medium-sized, ordinary commercial housing that meets the needs of local residents’ self-occupation. The construction (planning) authorities at all levels should work with supervisory agencies to strengthen supervision of planning efficiency and urge all localities to implement it.

(2) Clarify the proportion of newly built housing structures and focus on the development of ordinary commercial housing. From the 61st, all newly approved and newly started commercial housing construction and the proportion of the following housing (including affordable housing) must reach more than 70% of the total development and construction area. For projects that have been approved in the past but have not obtained a construction permit, the set-type adjustment should be made according to the requirements.

(III) Adjust the business tax in the housing transfer process. In order to further curb speculative and investment-based housing purchase demand, starting from June 1, 1936, if a house is re-sold for less than 5 years of purchase, the full amount of the sales income obtained by the sales income obtained during the sale is levied; if an individual purchases ordinary housing for more than 5 (including 5) and re-sold, the business tax is exempted during the sale. If an individual purchases non-ordinary housing for more than 5 (including 5 years) and re-sold, the business tax is levied according to the difference after the sales income is levied out of the price of the house purchased. The tax department must strictly charge tax collection and management to prevent missed taxation and arbitrary reduction and exemption.

(IV) Strictly implement the credit conditions for real estate development. In order to curb real estate development companies using bank loans to hoard land and housing, the capital ratio for project is less than 35% and other loans. Commercial banks are not allowed to issue loans. For development companies with more idle land and vacant commercial housing, commercial banks must strictly control extended loans or any form of rolling credit in accordance with the principle of prudent operation. For vacant for more than 3 years.:|Moltages.

(V) Adjust the housing consumer credit policy in a different way. In order to curb the rapid rise in housing prices, starting from June 1, 1936, the down payment ratio of personal housing mortgage loans shall not be lower than that of the housing needs of middle- and low-income people. The down payment ratio of 20% shall be implemented for those who purchase self-occupied housing and have a building area of ​​less than 90 cubic meters.

(VI) Ensure the land supply of medium and low prices and small and medium-sized ordinary commercial housing. Urban governments at all levels must prepare annual land use plans and scientifically determine the scale of land supply for real estate development. Priority should be given to ensuring the land supply for medium and low prices, small and medium-sized ordinary commercial housing (including affordable housing) and low-rent housing, and the annual supply shall not be less than 70 of the total supply of residential land; the supply of land should be based on limited units and housing prices, and the land for competitive land and housing prices shall be adopted to determine the development and construction units by bidding. Continue to stop the land supply of villa real estate development projects, and strictly limit the supply of low-density and large-scale housing land.

(7) Increase the disposal of idle land. Land, planning and other relevant departments should strengthen supervision of real estate development land. For those who have not started construction for one year after the start of development for one year after the contract, the idle land fee will be levied from the law and the construction will be started within a time limit and completed; if the construction is completed, the land use right will be recovered free of charge. For those who have started construction according to the date agreed in the contract, but the development area is less than 13 or the investment amount has been less than 1 for a consecutive year, the idle land will be disposed of.

(8) Strictly control passive housing needs.

All localities should strengthen demolition planning management in accordance with the requirements of the "Notice on Controlling the Scale of Urban Housing Demolition and Strict Demolition Management", reasonably control the scale and progress of urban housing demolition, and slow down the rapid growth of passive housing demand. In 1936, the scale of house demolition in various places was controlled within the annual level. It is necessary to act within its means and large-scale demolition and construction are strictly prohibited. Demolition shall not be implemented without inadequate implementation of demolition and resettlement housing and compensation policies, and shall not harm the legitimate interests of the people.

After the opinions on adjusting the housing supply structure and stabilizing housing prices were issued, it immediately caused an uproar.
Chapter completed!