As early as more than 2,000 years ago, both China and Europe suffered from economic and social crises arising from the governments’ unrestrained coinage of metal into money, not to mention a number of disasters the human society has undergone due to similar reasons after the introduction of paper bills. Financial professionals must understand that a price must be paid for any blank check.
Fourth, a resilient financial system is usually a reflection of economic strength. However, while the real economy has not restarted yet, the stock market has been surging. This is inexplicable. The international financial market is running counter to the real economy, suggesting an unprecedentedly marked distortion. “Internal debt is not debt, but external debt is debt.