What are the reactions and countermeasures of the world in the decade after the 2008 global financial crisis?

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Here, I would like to mention that no matter how young you are, you should realize that two major events in the new century have changed the direction of history, and the impact will continue. One is the “9.11” incident and the other is the 2008 financial crisis. The former changed the political order and geopolitics of the whole world; the latter changed the economic form of the whole world, especially the evolution of monetary and financial forms.

The first question: What are the reactions and countermeasures of the world in the decade after the 2008 global financial crisis? Here we mainly talk about four reactions and four countermeasures, or the world-wide reaction mode is expressed in the following four things, and to explore the logical relationship between them.

The first thing, in 2008, Nakamoto Satoshi from password punk created Bitcoin. Why is this thing significant? In November 2008, a short paper was posted on a website hosted by password punk. No one thought that such a small paper actually affected the new trend of the world financial form. Nakamoto’s research is just a P2P payment method that can get rid of the influence and control of third parties, thus avoiding the risks caused by third parties.

The second thing is that in 2009, emerging market countries represented by China proposed a plan for the reform of the international financial order. This program we call it the “super sovereign currency program.” On March 27, 2009, a few days before the G20 summit, then the central bank governor Zhou Xiaochuan and the then deputy prime minister Wang Qishan published an article proposing a basic plan to solve the problem of the world financial order. In a stable state, it is necessary to establish a super-sovereign currency that is not controlled by any sovereign state and establish a monetary base for stabilizing the world financial order. This plan has not been fully realized. The most important result is to increase the proportion of China’s special drawing rights in the IMF. China has become the third largest shareholder of the IMF after the United States and Japan.

The third thing, the Tea Party movement. This time node is also in 2009, the date of the occurrence is the US tax payment time — April 15. This incident has a great impact and lasts for a long time. This is a movement without a leader, without a central organization, and without a clear program. Its direct consequence is that it influenced the politics of the Obama era and the election that led Trump to become the president of the United States.

The fourth thing, the “Occupy Wall Street” action from September to November 2011. For a variety of reasons, people are not paying enough attention to it. The “Occupy Wall Street” action once swept the United States, affecting the world’s major countries and cities, except China. Their slogan is “We are all 99%”. They propose to choose not to consume for one day, and adopt non-consumption behavior to resist this society that has entered a serious gap between rich and poor and capital control consumption and power control. Of course, it is not the same as the Tea Party movement. Finally, the US government has taken a very compulsory clearance to make this movement quiet.

It is meaningful to compare the four movements and compare the differences in the four reaction patterns of the world elite after the 2008 financial crisis.

The first thing is to create an event with the bitcoin of the password punk represented by Nakamoto. Satoshi Nakamoto is a technical school on the surface, but he is a fairly mature technology school. His real foundation is the password punk movement. There is a view behind him that we must protect our privacy in the Internet age. Based on this point of view, they eventually produced a separation of thoughts and ideas from the legal system controlled by the central government, especially the central government. In their view, the legal currency system of each country is essentially the central bank’s control of the amount of currency issuance, and the amount depends largely on the judgment of the relevant government departments, especially by the politicians.

The basis of contemporary monetary sovereignty is the credit of the government and the state. In particular, the boundaries between monetary policy and fiscal policy are blurry. The United States is a typical country. The Fed is not completely independent, and the president has considerable influence. The product that finally emerged from this separation of thoughts is the cryptocurrency that is now based on the blockchain, or the use of bitcoin as a direct product, and the blockchain as a system of back-end technology. In order to understand this in depth, I suggest you take a moment to study the password punk movement, because they are open source, and the computer open source movement, as well as the hacker group is inextricably linked. This movement began to develop gradually from the 1970s and is a movement that grows along with the Internet.

The second thing, about the idea of ​​super-sovereign currency, we find that this represents China, but it is not only China, but also represents emerging market countries. They asked to change the original monetary and financial system, but we need to think about this proposal, why is it not accepted? Why didn’t the program proposer stick to this thing? This is a question worth considering.

The third thing, the Tea Party movement. The main body of the Tea Party movement is the American middle class. They demanded tax cuts, advocated “big market, small government” and advocated defending and safeguarding the interests of the middle class. In the context of the time, this movement was directly aimed at the tax increase policy that Obama had just taken office.

The fourth thing, the Wall Street movement. Occupy Wall Street, what does it represent? It represents the grassroots, the people, the main body of society, and the subject that suffers the most harm after globalization and financial crisis.

Under the historical conditions of the time, these four movements represented exactly four reactions, which won? No one foresees it. Today, the results have basically come out. The technical school that everyone disapproves is the so-called password punk group. The bitcoin movement or blockchain movement represented by Nakamoto and Bitcoin is not only maintained, but also increasingly The expansion and deepening of the influence changed from the fire of the stars to the irreversible situation.

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