Chapter 79: Exchange rates accurate to the last digit

Zhou Ming's words came to an abrupt end. Of course, it wasn't Zhou Ming himself who couldn't continue speaking, but someone else who couldn't bear to listen anymore. Nikolaevich said to him, 'Mr. Zhou Ming, I don't think you need to go on about these principles, because since we are here today to discuss the issuance of the new ruble, then we are all aware of the relevant information about the ruble exchange rate. %顶%.点%.小说

As soon as Nikolajevich finished speaking, Zhou Ming immediately asked him, 'Why do you think I'm talking nonsense, Mr. President?'

Nikolajevich laughed, 'What Mr. Zhou Ming is saying is all basic common sense about currency exchange rates, which forms the basis of finance, but in the present situation, it is very anachronistic.'

Nikolaevich's words were very tactful, but the meaning was self-evident. He thought that Zhou Ming was just talking nonsense. Apart from Nikolaevich, the other Northern Russian officials sitting there also revealed very disdainful and contemptuous expressions towards Zhou Ming. Obviously, they all thought that Zhou Ming's remarks at this time were simply unprofessional.

In the opinion of these Northern Russian officials, their initial view was indeed correct. This Chinese person is just a Chinese person, and his knowledge of economics is just that. Although they can work miracles, this Zhou Ming's method of using daily necessities to control the ruble is also very powerful, but that is just his good luck, a blind cat hitting a dead mouse. If you really let him explain the reason, he will be at a loss for words, and can only say this nonsense to muddle through.

'It seems that Mr. Zhou Ming still doesn't understand some things,' said Nikolajevich. "What we need now is to quickly calculate the value of the new ruble and set an exchange rate, not listen to you talk about these general truths that can be heard in any economics school.'

At this time, Tong Gang stood up and said to Nikolajevich, "Hello, Mr. President, I am the chairman of the Gangcheng Shipping Group. My name is Tong Gang. May I say a few words?'

Nikolajevich gestured to him and said, 'Of course you can, but I'm not sure what Mr. Tong Gang has to say in his defense.'

A single sentence of defence directly set the tone for what Tong Gang was yet to say. Tong Gang also frowned, but he still said to Nikolic, 'I understand the purpose of the President's inviting us here today. In fact, we also very much hope that the new ruble can be issued as soon as possible. However, there is one point. Any exchange rate has a certain calculation method, such as the foreign exchange reserve situation and the domestic economic development situation, as well as the purchasing power of the people.'

'Due to national confidentiality, neither I nor Zhou Ming know these things. So, in the absence of the necessary conditions, isn't it a bit too much for the President to directly ask us to discuss the exchange rate?' Tong Gang asked Nikolajevic.

'It seems that this is the way you Chinese think: if you don't know, you can just say whatever you like?'

Nikolaevich first nodded silently to set the tone for his words before continuing, 'But this is also my oversight. Since Mr. Zhou Ming is a guest I invited, I can allow him to look through some of the most basic archival materials...'

Nikolaevich's words had not finished when Zhou Ming said, 'The gross domestic product of the North Russian Republic is currently around two trillion U.S. dollars, and gold and foreign exchange reserves are around one hundred billion U.S. dollars. If it was just what you can see in the newspapers, I don't think the president would have to show it to me.'

Upon hearing Zhou Ming's words, Nikolaevich laughed again and said to Zhou Ming, 'It seems that Mr. Zhou Ming is a well-known businessman from China and is very good at collecting this kind of information.'

Nikolaevich's words ended there, and Zhou Ming shook his head gently and said, 'Mr. President, please don't blame me for speaking bluntly, but you and your team are really stingy. You want to set a firm exchange rate for the new ruble, but you don't want to show others the real situation in the country now. I really don't understand what you are afraid of.'

Zhou Ming's words obviously struck a chord with these Northern Russian officials. First, Kasia, the director of the president's office, stood up and pointed at Zhou Ming's nose, saying, 'Mr. Zhou Ming, please be careful with your words! This is the Kremlin, not a place where you can talk nonsense. Please maintain enough respect for the president in front of him!'

With Kasia taking the lead in defending Nikolayevich's dignity, other senior Northern Russian officials also expressed their dissatisfaction with Zhou Ming one after another, except that their words were relatively more tactful compared to Kasia's.

'If it were anyone else making this request, I think we would still consider it, but not you, Mr. Zhou Ming. Compared to the arguments that can be heard at Petrograd University, we would prefer to hear something more meaningful. Otherwise, no matter how realistic the economic figures we give, they will be useless. I wonder if you agree, Mr. Zhou Ming?'

Finally, Nikolajevich himself came forward and said to Zhou Ming, 'Mr. Zhou Ming, I invited you here because I really want to hear your opinion in view of your great abilities. But what you are doing now is really disappointing.'

In the face of the mockery in the entire conference room, Zhou Ming remained unruffled. He said slowly, 'Since the President has said so, I have no choice but to say it. According to my calculations, I suggest that the exchange rate of the new ruble to the US dollar should be best at 327 to 1, that is, 327 rubles to 1 US dollar. Of course, the specific rate can be adjusted upward or downward. After all, in a market environment, the exchange rate is not fixed.'

Zhou Ming continued, 'I know this exchange rate is a bit low, but it is also because the current domestic economic situation in Northern Russia is in a downward phase. A slight depreciation of the currency will help stimulate trade growth, stimulate the development of the domestic economy, and is more conducive to economic recovery. I wonder what the President thinks?'

As Zhou Ming's words fell, the entire conference room suddenly became silent. All the senior officials of Northern Russia, including Northern Russian President Nikolayevich, looked at Zhou Ming in great surprise, their faces full of disbelief.

Looking at everyone's surprised expressions, Zhou Ming was in no hurry to speak, and just rested his hands on the table, waiting for them to come back to their senses.

The people present were all officials in the power centre of Northern Russia, and they all had a certain degree of psychological resilience, so the surprise was only a momentary thing. Soon everyone came back to their senses, and Nikolayevich asked Zhou Ming, 'Mr. Zhou Ming, how did you come up with this exchange rate?'

Zhou Ming shrugged and replied, 'It's based on the kind of nonsense you hear in any economics school that has no practical significance in your eyes.'

This answer made everyone feel like they had been slapped in the face, but fortunately, everyone sitting there today were senior officials with deep reserves of self-control, otherwise they would have felt ashamed of their previous contempt and mockery of Zhou Ming and wished they could find a hole to crawl into.

The reason was simple: it wasn't that Zhou Ming had said the wrong thing, but that he had been dead-on accurate.

The economic meeting today revolved around the new ruble exchange rate, and it had actually started before Zhou Ming arrived. At the previous meeting, the Prime Minister of Northern Russia had already informed everyone of the calculation results from the finance department, and the result was what Zhou Ming had said: 327 to 1, not one ruble more or less.

If Zhou Ming had said in general terms that it was more than 300 to 1, then it could be said that it was a complete coincidence. But now that Zhou Ming has precisely stated the number in single digits, it is difficult to explain it away as a coincidence.

You have to understand that the figure quoted by the Prime Minister was calculated overnight by a number of economic officials from the finance department, in conjunction with data from the statistics department. Perhaps the figure is not perfect, and it may not be the final figure, but it is already the most scientific figure available. But now it has been revealed by Zhou Ming, how can this not be surprising?

They simply cannot understand how Zhou Ming worked out this figure. There is a lot of data in there that only the Northern Russian government knows!

As if he had read everyone's mind, Zhou Ming then said, 'You don't have to suspect me of anything. I'm just an outsider from China. I can't possibly know the data within your government. But I do actually do business with all the people of Northern Russia. Maybe you don't think those are just everyday necessities, but I actually have the most accurate data, especially in terms of the purchasing power of the people. I know better than you.'

'In addition, I and Chairman Tong, Chairman Li, and the others invested on the first day the stock market opened. The fall in the ruble exchange rate before that was also helped a little by me.'

Zhou Ming said, 'I have been involved in everything from the capital market to industrial operations, so I can deduce the true state of this country from these activities.'

President Nikolayevich of Northern Russia was shocked, as was his chief of staff, Kasyan. The prime minister and all the other senior Northern Russian officials present were all deeply shocked by Zhou Ming's words at this moment!

Oh. My. Gad!

This was the only phrase that everyone could think of at the moment, and at this time they could only use this phrase to express their feelings. The reason is none other than that Zhou Ming is really too evil.

It is not impossible to infer a country's true situation through the sales of daily necessities and the direction of the capital market, but the variables involved are too large and difficult to grasp. After all, every transaction could be random, as well as the result of a country deliberately guiding it. If Zhou Ming had told them in advance that they could calculate the new ruble exchange rate in this way, they would have laughed at him for being delusional. But now they could only worship him.

Could it be that this Chinese man had a brain that surpassed Einstein's? Otherwise, how could he have calculated such a strange thing?

Everyone felt disoriented as a result, and some even secretly pinched themselves to wake up from this unbelievable and absurd dream, but of course it was impossible.

Watching everyone's shocked expressions, Zhou Ming's mouth curled up, secretly relieved, because the reason he was able to come up with this exchange rate was not because of his powerful calculation skills, but because he knew.