"The ideas of economists and political philosophers, whether they are correct or not, are often so powerful that they are unexpected to ordinary people. In fact, these ideas are just the ones that dominate the world. Many practical practitioners think that they are not affected by any theory and often become unconscious slaves to the worst theory of a deceased economist... I am sure that compared with the erosion of thought, the power of interest belonging is over-exaggerated. Wrong thoughts make people unable to see their own interests belonging. Philosophy in economy and politics

In the field, most people no longer accept the influence of the latest theories after the age of 25-30. The views of civil servants, politicians and propagandists on current affairs cannot all come from the latest ideas. However, sooner or later, for the formation of good or ugly ideas, the more dangerous ideas are thoughts, not the belonging of interests." (John Maynard Keynes, another time and space American magazine "The Economist" organized 150 economists to be selected as the greatest economist of the 20th century)

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"...The authorities of traditional microeconomics, such as John Miller and his son, firmly believe that Jean Baptist Say's law summarized by the production of products itself can create their own needs. They generally believe in such a golden rule: the self-regulation role of the market economy is perfect, so it is impossible to produce a universal overproduction surplus throughout all sectors of the national economy, and only supply and demand imbalances can occur in individual sectors of the national economy, and even so, it is temporary. They believe that the automatic adjustment of prices and interest rates will tend to create complete employment. In their theoretical framework, the only function of the government is to ensure that the market is maintained within the framework of perfect competition..."

"The gentlemen who believe in classical economic theory always talk about metaphysics whenever they face a fact, always talk about science and politics, always talk about universality and particularity. They cannot explain why the Chinese in the East took another completely different approach to dealing with the global economic crisis throughout the world and achieved better results than the Western world. They cannot explain why Germany, which, according to the economic theory of Lister's national characteristic, supported productivity with mercantilism rather than relying on natural market elimination to continuously develop the economy has become stronger and stronger in the crisis..."

"The outstanding response made by the Chinese in the economic crisis from 1900 to 1903 should be highly valued by the economic community and governments. In my opinion, the impact that the economic community should have to be greater than the actual situation... What always puzzles me is that China has never made a perfect summary of this pioneering initiative. In other words, the government's economic regulation model has not yet made a systematic monograph on this. So far, no economist, especially Chinese scholar, has proposed a systematic monograph."

"This is really a very regrettable thing. You should know that they have empirical explanations to the world that the market itself has insurmountable defects, and the economic crisis is a concentrated reaction to market defects. Time and time again, the degree is getting deeper and deeper. As a result, the increasingly serious economic crisis continues to send us a signal: there is no powerful automatic mechanism for production and employment to develop towards full employment in the economy. In this regard, Lister's economic theory is also flawed, so we see that in the face of the same crisis, Germany's response is not as effective as the same crisis.

China.” “By studying the great attempts made by the Chinese in the economy over the past thirty years, I have to come to the conclusion that they act intentionally or unintentionally according to a principle, that the macroeconomic tendency will restrict individuals’ specific behaviors. The state, or the government, is to implement macroeconomic intervention to make up for a series of defects caused by the market’s spontaneous profit-seeking. Through this government intervention, economic cycle fluctuations can be compensated. On the one hand, this compensation is certainly about increasing output, but on the other hand, it depends on increasing demand, so that output and demand can be balanced."

"The rapid development of the Chinese economy is often accompanied by deficit finance, which is a very interesting phenomenon... When the gentlemen in Whitehall celebrated the long-term fiscal surplus of the British Empire, and when the two houses of the U.S. and France were very worried about the fiscal deficits of Britain and France in the Boer War, China and Russia, two economic stars in recent years, have implemented another system at least in terms of finance: deficit finance based on the issuance of government bonds. It is this deficit finance that allows them to strengthen their control over the economy. Credit leverage is used to create demand to meet the rapidly improving production capacity and promote the development of productivity..."

“We have concluded that a responsible, democratically elected government should not only assume the responsibility of maintaining market equity in the economy, but also firmly and decisively: maintaining economic growth, ensuring full employment, and controlling inflation.”

"When the crisis recurs, when the magic wand of the market, like many times before, has caused the classical theories of classical economists to fail, and when reality makes economists and government experts lose their faces, I would like to remind you carefully: Please pay attention to what has happened in China, and carefully evaluate their efforts and results. We may find something crucial from it and may determine our future destiny."

“…John Maynard Keynes.”

Washington.

In March 1999, George Bruce Cotwill, the Treasury Secretary of the Theodore Roosevelt administration, succeeded as U.S. Treasury Secretary Franklin McVeigh, put the newspaper on the table and looked at several economic experts in front of him with a serious expression: "Professor, what do you think of this proposal?"

"He is a prodigy in the Cambridge Department of Economics, a favorite student of Alfred Marshall, and a junior of Pigou." Arthur Hadley, a professor of economics at Harvard University who was invited to the Ministry of Finance to take on consulting duties, pushed his glasses. "Old Marshall introduced him to me and thought he was very unusual... I didn't know much about his theory before, and it sounded very interesting. But... I honestly don't think this thing is suitable for the United States."

McVe leaned forward slightly: "Arthur, what do you mean?"

"The reason why this set works in China is because they are essentially an authoritarian country." Arthur Hadley smiled, "That Eastern nation has been around for thousands of years, and it is always up to the emperor and officials to decide. In my opinion, although they have changed a lot now, some cultural things cannot be erased... Rather than saying that they have discovered the truth, it is better to say that it is tradition. In ancient agricultural society, they had the practice of "regulating warehouses". In the good times, the government paid for food, which is actually the government creating demand to avoid oversupply. In the disaster year, the government uses food to provide relief to the victims."

"For this system to work, it must rely on a strong government," said Arthur Hadley. "If there is no strong government, Congress would oppose deficit fiscal, because it means tax increases and welfare cuts in the future, localities oppose central decision-making, and how to spend the money and where it goes will cause heated debate among various groups. To be honest, Franklin, I don't think this set will work in the United States."

McVeigh was silent, seemingly disappointed.

"Of course, I don't have any opinions about the current government. I just say that this is the United States, the people have, the people are governed. The people enjoy the United States, and here freedom is protected. The federal government cannot infringe on the freedom rights of states and citizens." Arthur Hadley comforted McVay, "This is what I want to remind you, Franklin..."

"The problem now is that Wall Street's spontaneous rescue methods have been scattered, and the United States is sliding into the bottomless abyss, my professor." McVeigh said pale and pointed to the slogans on the street opposite, "Citizens are losing patience... If we can't end it quickly and effectively, the damn economic crisis will swallow us."

Arthur Hadley looked at McVay silently, and sighed for a while: These Republicans, Theodore Roosevelt's spiritual stepchildren were still thinking of taking this opportunity to strengthen the rights of the federal government and take the opportunity to dismantle the "evil, greedy trust" of the United States.

Perhaps this can strengthen the prestige of the government in the short term and even restore some economic decline, but the price paid is unbearable for the United States: the loss of freedom.

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"I firmly oppose this proposal."

Chamber Clark, a senior Democratic member of the House of Representatives, expressed his serious expression and said to the reporters present: "Democracy is the foundation of the United States of America, and freedom is the true soul of the United States. We desire justice, and we call for fairness, but we never agree to exchange for all this at the cost of freedom. Yes, we must not allow the North American continent to fall into the enslavement of a certain government again!"

"Mr. Clark, I am David Stanley of the New York Times. Faced with the current crisis, since you do not agree with the Republican plan, do you have any magic bullet?"

"I think the government must act to save our economy, but nothing can transcend the Constitution and the law, and cannot use this as an excuse to extend your hand into the freedom that the people should have..."

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Starting from March, a powerful trend in the United States was set off: establishing a strong central government and taking back fiscal and financial power from the hands of the trust and returning it to the American people.

The progressive Republican senator, known for his toughness, proposed a radical plan: imitate China, establish a strong state-owned central bank, grasp the right to issue money, bank supervision, exchange rate decision, foreign exchange reserves, interest rate control and final acceptance, completely ending the manipulation of the US financial system by private bankers on Wall Street, and ending the endless chaos and **.

This proposal sparked a craze among Theodore Roosevelt's Republican progressives and even the Democratic radicals, and also received support from many Midwest agricultural state legislators and even the people.

Many middle and lower-class people believe that it was Wall Street's greedy tycoons who directed this tragedy, and to solve all this, they could only rely on the government rather than some bank vampires.

"Handcuff the financial thief who steals citizens' wealth", this loud slogan resounds throughout the United States.

This trend made Wall Street tremble and made the American business community feel unprecedented danger.

A state-owned Federal Reserve Bank can certainly support the banking industry to ease the dilemma, but it will also be the government's sword to extend its position into the market. When finance is controlled by the government, all the actions of the trust consortium fall under the control of the Ministry of Justice. Their financial transactions and the exchange of interests between government officials are displayed nakedly in the government, or in public, not everyone dares to face such a future calmly.

Today is the state-owned central bank, and tomorrow the government can extend its hands to other areas until the entire economy is controlled by the government. At that time, the "golden age" of American businessmen will be declared to be gone forever, and will be replaced by a new dynasty that ruled everything by the White House.

The mouthpiece representing the interests of the American business community. Liberal newspapers and even some liberals in the Democratic Party quickly launched a counterattack, calling out loudly, "The Republican government is using a mistake to cover up their previous mistake. The current dilemma is caused by them, and they have to divert the contradictions and guide all this cleverly to the government's efforts to strengthen centralization." This is "a betrayal of the spirit of the founding of the United States, and it is the greatest evil."

Many human rights groups, or those funded by industry and commerce, have called for "counterattacking the White House Bolshevik offensive" and called for free Americans to "resist the new slavery."

Many journalists tried to visit Wall Street bankers at the forefront, but Morgan and his trust giant remained silent.

Faced with the siege, Morgan Little ended up simply answering, "I still believe that Wall Street is in the hands of some upright and responsible people", and then hurriedly bid farewell to leave.

Amid the extremely fierce opposition, the tenacious Republican progressive lawmakers still shouted loudly that "for fairness and justice, for the long-term stability of the United States, let us give up fearless disputes and misunderstandings. Only a state-owned Federal Reserve Bank can ensure that our public interests are not held hostage by private bankers."

There were rumors everywhere on Wall Street that "the government is about to announce the forced nationalization of the banking industry, imitating the establishment of state-owned commercial banks in China", and people were panicked everywhere. The original turbulence further intensified.

Seeing that the situation began to get out of control, Senate Monetary Committee Chairman and Senior Senator Aldridge proposed a new proposal, which immediately shocked the entire United States.

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"…The problem now is to solve the lack of money and save the collapse of the financial system. We need to get the banks to run again and inject blood into our economy. As we do in medical surgery, when patients lose too much blood, we first transfusions and then undergo surgery, otherwise the patient will die of excessive blood loss... Since banks do not have so much money, it is necessary to issue new currency. But how can the currency issued by banks be guaranteed? We can take the form of: the Ministry of Finance issues treasury bonds, mortgages to banks, and the bank issues currency to the Ministry of Finance, which is used to purchase goods, services, and tax refunds. In this way, our economy will get a crucial blood transfusion. Then we can perform surgery..."

Vanderbilt Manor, New York, Hudson Riverside.

"Everything was as we expected." Xue Dongcheng handed the newspaper in his hand to Morgan, "The Rockefeller family still couldn't help but take action... He didn't shy away, and actually let his children and in-laws show up in a grand manner."

"The Senator has always shown himself as a clean and honest person," William Catham Vanderbilt whistled, "but this is not a matter of whether he is clean or not... For Americans, the most important thing is that his daughter sleeps in the same bed with Rockefeller at night."

"Do you want to start public opinion? This is simply a machine gun that aims his butt at the enemy..." Zhou Tongxu made a gesture, "pull the trigger and chase it relentlessly. He and those Rockefellers will become the 'national thieves' of the United States."

"There is no need for this." Xue Dongcheng shook his head, "Progressives and populists will make their butts bloom... Of course, they will also have their own public opinion arrangements, so let them fight for a while."

"Donald is right. When they are in a deadlock, it's time for us to take action." Morgan nodded in praise, "Are you ready, Mr. Warberg?"

A man with obvious Jewish appearance and well-dressed dressed smiled: "Mr. Xue, everyone, Member of the House of Representatives Glass, Member of the House of Representatives, Senator Clark, Senator of the Senate, and moderate leaders of both parties have communicated, and we can take action at any time."

"Okay gentlemen," Morgan clapped his hands and looked at everyone with a smile, "Wait for a few more days patiently, and we can embark on a great cause that will change the history of the United States... An unprecedented Federal Reserve system will come to this world, and our close friends will bring enough money from Shangri-La to save the entire United States... We the most upright gentlemen will become the true financial leaders of the United States, and a new financial order will build a strong bond on both sides of the Pacific."

"That will be an era of prosperity and peace for two hundred years, a time when people have, people govern, and people enjoy it."

Little Morgan raised the wine glass in his hand high and was full of confidence: "For the prosperity and peace of the United States!"

"God bless America!"!~!

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