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🌏 | Ukraine considers issuing bonds secured by frozen Russian assets = Presidential adviser


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Ukraine considers issuing bonds secured by frozen Russian assets = Presidential adviser

 
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If this plan is adopted, "a special bond will be issued for the value of the asset basket and sold in the international financial markets."
 

[Kiev (Kyiv) XNUMXth Reuters] – Oleg, economic adviser to President Zelensky of Ukraine ... → Continue reading

 Reuters


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International financial market

International financial marketWhat is (Kokusaikin Yuushijo)?International transactions(Cross-border transactions) are being carried out on a large scaleFinancial marketIs.Especially those with a long financial periodInternational capital marketSometimes called.

Birth

13st centuryから15st centuryOverItaly Ofヴ ェ ネ ツ ィ ア,Genoa,Florence,Rome,France OfChampagne,Lyon,Besancon,Paris,AvignonOf various cities such asRegular marketAtForex marketWas organized.16st centuryから17st centuryBetweenAntwerp,17st centuryAt the endAmsterdam,UKBecame an important forex center, whereInternational financial transactionsWas done.

19st centuryFrom the middle20st centuryIn EnglandUKIs the best international in the worldFinancial centerIt was a model for the international financial markets.1816/ OfGold standardFrom recruitment1914/Nearly 100 years before the suspension of the gold standardUKThen "Gold price'Was maintained.This is the BritishlbIs more credible than other currencies, so various diversified paymentsUKMade in.

Of the worldFri-Products・Long-term capital ・Shipping・Insurance transactions centered on London. Underwriting and discount credit in London for a bill of exchange bill with a sterling denominated letter of credit isTriangular tradeWidely used for trade between third countries such as, London has developed as a center of trade and finance in the world (see "For details".The citySee the item).

But,World War IAfter that, when the British pound weakened, the US dollar came to be supported, and New York in the US emerged as a new international financial market (Federal Reserve #HistorySee also).

Second World Warrear,"Bretton Woods AgreementBy "AmericanDollarIs the transaction currencyReserve currencyRaised its global position as.International settlement and trade financing between countries was carried out by transferring the balance of dollar deposits held by the parties to banks in the United States, that is, in the bank underwriting market in New York.

From the history so far,Financial market International financial marketThe following conditions have been pointed out.

  1. Of the countrycurrency International transaction currency / reserve currencyWidely used as.for that purposeOf currencyFriCommutative toOrPolitical and economic powerAgainst the backgroundCurrency credibilityMust be obtained from the world.Under the credibility of this currency, banks in each country have a deposit account in the currency of the country in their financial center, which functions as a settlement place in the world.
  2. OrganizationalLong-term and money marketsThe presence of.All over the world資金There are long-term and short-term financial markets and financial institutions in order for funds to be procured and managed there.World Bank FunctionsMust be fulfilled.
  3. Exchange currencies freelyForex marketThe presence of. The existence of a foreign exchange market that provides facilities such as foreign remittance, interest rate arbitrage, and currency hedging is essential. Such convenienceClearing houseTo formbankMake active use.
  4. There are no restrictions on international financial transactions or foreign exchange transactions. Until modern times, there was a barrier between Britain and France. New York rise background.
  5. GlobalCommodity / Shipping / Insurance MarketThe presence of.Commodities and shipping are the real economy that supports the international financial markets.Insurance is a business that legally obtains information on the assets held by customers.The commission fee isMonopolyUnless otherwise, price competition will occur.
  6. Infrastructure for communication and information processing(Submarine cableEtc.) andFinancial expert(CustodianEtc.) existence.

Multipolarization

Ranking
city
1United States flag ニ ュ ー ヨ ー ク
2British flag UK
3Hong Kong flag Hong Kong
4Flag of the People's Republic of China Shanghai
5United States flag Los Angeles
6Singapore flag Singapore
7United States flag San Francisco
8Flag of the People's Republic of China Beijing
9Japanese flag Tokyo
10Flag of the People's Republic of China 深圳
International Financial Center Index
(2022/Announced in March)[1]

the 1950sThan,The United States of AmericaThe balance of payments continued to be in the red, spreading excess dollars around the world.This excess dollar has brought together goods and services from around the world in the United States, making the United States an unprecedented "Inflationary sorrowIt was decided to taste.Also, the United StatesVietnam WarThe military intervention in the United States increased US war costs and worsened the US budget deficit.If this continues, it will be difficult to defend the US dollar.If the dollar cannot be defended, the outflow of gold will continue.This is the crisis of the superpower America.

In August 1971, the United States finally announced to the world that it would stop exchanging gold for US dollars.Nixon shockSee).And the US dollarFloating exchange rate systemからFloating exchange rate systemSince then, the exchange rate of the US dollar has been determined by the supply and demand of the market.

This electric shock announcement in the United States had a great impact on the world's international financial markets.European marketFrankfurt-Zurich-Paris-AmsterdamNow, a new form of international financial transaction is taking place.For that international financial transactionDeutsche Bank-BNP Paribas-ABN AmuroEtc. participated, "Euro DollarMarketWas born.

In addition, along with the US foreign investment and loan regulations and the activities of multinational corporations,Euro bondMarket"Also appeared.Communication / information processing infrastructureGlobalizationAs a result, the international financial markets have transcended national border constraints.

big BangThen London, England,Euro DollarMarketIt became the center of.Active in Paris and FrankfurtEuro currencyMarketWas born.

The United States, which was about to lose dollar finance to London, is giving tax and foreign exchange benefits to non-resident financial transactions.Offshore market"1981/Established an international financial facility in New York. "Offshore financial centerFirst of allTax havenAs(I.e.-Cayman Islands-パナマ-バーレーンAnd so on, againAsian Dollar MarketAsSingapore-Hong KongHowever, each has developed rapidly.1986/12,TokyoOffshore marketWas also founded.

21st centuryDominated the early marketFinancial derivativesabout,1972/Currency futures trading started on Chicago Commercial Exchange in1975/ToChicago Commodity ExchangeFor the first time, interest rate futures were listed.

after that1982/Introduced stock index futures and stock index futures options on the Chicago Board of Trade and bond futures options on the Chicago Board of Trade. As over-the-counter transactionsCurrency swapAnd interest rate forward transactions were carried out.Such "Derivativestransaction"1982/London International Financial Futures Exchange, UK,1984/SingaporeSingapore International Financial Exchange,1989/Tokyo Financial Futures Exchange in Japan (currently:Tokyo financial exchange),1985/JapaneseTokyo Stock ExchangeWas born on exchanges around the world.like thisthe 1980sFrom the whole worldCurrent account balanceBegan to run a deficit in units of $ 100 billion.

the 1990sWhen entering, prices are determined by the matching method by electronic terminal input at these exchanges, and thenComputer systemHas come to be introduced in earnest on each exchange.again,インターネットIncludingIT technologyDevelopmentHas significantly increased the processing power of each exchange, and much information and news articles from around the world are instantly reflected in the prices of exchanges.again,Net securitiesWith the birth of, the barrier of the market is lowered and it participates in the marketIndividual investorWe were also increasing.Traditionally, it had a major impact on the global financial marketsHedge fundHowever, it has become difficult to read complicated price fluctuations, and some have made large losses.Long Term Capital ManagementThe collapse of is a good example.

Early 21th centuryNeoliberalismThe multipolarization of international financial markets has accelerated against the backdrop of the sweeping of the market and the enhancement of submarine cables.World financial crisisIn the shadow ofVirtual currency OfBitcoinIs newly introduced,Mount goxVarious defects were pointed out by the default of. HoweverBlock chainOnly is being promoted and developed. A smart contract using a blockchain is a financial infrastructure that is the international financial market.Smartphone,Internet of ThingsWe are trying to decompose and multipolarize it to the level of.

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