About 'historical cost accounting advantages'|..., mutton will be cheap relative to historical poultry prices and consumption may increase...in the first six months of 2005. The cost of the acquisition was 18,500,00 RMB...
Ｉｎ ｏｒｄｅｒ ｔｈａｔ ａｎ ｏｒｇａｎｉｚｅｄ ｂｏｄｙ ｏｆ ｋｎｏｗｌｅｄｇｅ ｍｉｇｈｔ ｂｅ ｃｌａｓｓｉｆｉｅｄ ａｓ ｓｃｉｅｎｃｅ, ｉｔｓ ｈｙｐｏｔｈｅｔｉｃａｌ ｌａｗ ｍｕｓｔ ｂｅ ｂａｓｅｄ ｏｎ ｆａｃｔｓ. Ｕｎｌｉｋｅ ａｎｙ ｏｔｈｅｒ ｓｏｃｉａｌ ｓｃｉｅｎｃｅ, ｆａｌｌａｃｉｅｓ ａｒｅ ｔｈｅ ｒｏｏｔ ｏｆ ｔｈｅ ｔｅｃｈｎｉｑｕｅ ｏｆ ｔｈｉｎｋｉｎｇ ｉｎ ｅｃｏｎｏｍｉｃｓ. Ｅｃｏｎｏｍｉｃ, ｓｏｃｉａｌ ａｎｄ ｐｏｌｉｔｉｃａｌ ｉｎｓｔａｂｉｌｉｔｙ, ｉｎ ａｄｄｉｔｉｏｎ ｔｏ ｃｏｎｃｅｎｔｒａｔｉｏｎ ｏｆ ｗｅａｌｔｈ ａｒｅ ｔｈｅ ｏｕｔｃｏｍｅｓ ｏｆ ｓｕｃｈ ｗａｙ ｏｆ ｔｈｉｎｋｉｎｇ. Ｆａｉｌｕｒｅ ｏｆ ｐｒｅｓｅｎｔ ｅｃｏｎｏｍｉｃ ｐｏｌｉｃｉｅｓ ｔｏ ｒｅａｌｉｚｅ ｐｒｏｓｐｅｒｉｔｙ ｍａｋｅｓ ｉｔ ｎｅｃｅｓｓａｒｙ ｔｏ ｒｅｖｉｅｗ ｔｈｅ ｆｏｕｎｄａｔｉｏｎｓ ｏｎ ｗｈｉｃｈ ｔｈｅｓｅ ｐｏｌｉｃｉｅｓ ａｒｅ ｂａｓｅｄ, ａｎｄ ｌｏｏｋ ｆｏｒ ａｌｔｅｒｎａｔｉｖｅ ｐｏｌｉｃｉｅｓ ｔｈａｔ ｗｏｕｌｄ ｒｅｆｌｅｃｔ ｆａｉｒ ｅｃｏｎｏｍｙ. Ｉｎ ｐｒｅｓｅｎｔ ｅｃｏｎｏｍｉｅｓ, ｆｕｎｄｓ ｃａｎ ｂｅ ｒａｉｓｅｄ ｔｈｒｏｕｇｈ ｉｓｓｕａｎｃｅ ｏｒ ｂｏｒｒｏｗｉｎｇ ｍｏｎｅｙ; 1. Ｉｓｓｕａｎｃｅ ｏｆ ｍｏｎｅｙ Ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ (Ｃｅｎｔｒａｌ ｂａｎｋ ｏｒ ＵＳ Ｆｅｄ ｂａｎｋ) ｉｓ ｔｈｅ ｏｎｌｙ ｎｏｔｅ-ｉｓｓｕｉｎｇ ｉｎｓｔｉｔｕｔｉｏｎ. Ｐｒｅｓｅｎｔ ｍｏｎｅｙ ｉｓ ｉｓｓｕｅｄ ｉｎ ｆｏｒｍ ｏｆ ｐａｐｅｒ ｎｏｔｅｓ ｏｒ ｃｏｉｎｓ ｍａｄｅ ｏｆ ｍａｔｅｒｉａｌ ｏｆ ｎｅｇｌｉｇｉｂｌｅ ｃｏｓｔ. Ｔｈｅ ｉｎｔｅｒｎａｔｉｏｎａｌ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ ｓｅｔｓ ｒｕｌｅｓ ｔｏ ｃｏｎｔｒｏｌ ｉｓｓｕａｎｃｅ ｏｆ ｍｏｎｅｙ ｂｙ ａ ｓｔａｔｅ. Ｓｉｎｃｅ ｍｏｎｅｙ ｉｓ ｓｔｉｌｌ ｖｉｅｗｅｄ ａｓ ａ ｃｏｍｍｏｄｉｔｙ, ｔｈｅ ｉｓｓｕａｎｃｅ ｐｒｏｃｅｓｓ ｉｓ ｒｅｇａｒｄｅｄ ａｓ ａ ｔｒａｎｓａｃｔｉｏｎ ｏｆ ｂｕｙｉｎｇ ｍｏｎｅｙ. Ｍｏｎｅｙ ｉｓ ｓｏｌｄ ａｔ ｉｔｓ ｆａｃｅ ｖａｌｕｅ ｆｏｒ ａ ｐｒｉｃｅ ｔｏ ｂｅ ｐａｉｄ ａｔ ｉｓｓｕａｎｃｅ ｏｒ ａｔ ｌａｔｅｒ ｄａｔｅ. Ｆｏｒ ｐｒｉｃｅ ｔｏ ｂｅ ｐａｉｄ ｏｎ ｓｐｏｔ, ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｉｓｓｕｅ ｍｏｎｅｙ ｃｏｖｅｒｅｄ ｂｙ ｃｕｒｒｅｎｃｙ ｂａｃｋｉｎｇ ｉｎ ｆｏｒｍ ｏｆ ｐｒｅｃｉｏｕｓ ｍｅｔａｌ ｏｒ ｆｏｒｅｉｇｎ ｃｕｒｒｅｎｃｙ ｒｅｓｅｒｖｅ. Ｆｏｒ ｐｒｉｃｅ ｔｏ ｂｅ ｐａｉｄ ｏｎ ｃｒｅｄｉｔ, ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｉｓｓｕｅ ｆｉａｔ ｍｏｎｅｙ. Ａｇａｉｎｓｔ ｔｈｅｓｅ ｎｏｔｅｓ ｉｔ ｈｏｌｄｓ ｍａｒｋｅｔａｂｌｅ ｇｏｖｅｒｎｍｅｎｔ ｓｅｃｕｒｉｔｉｅｓ. 2. Ｂｏｒｒｏｗｉｎｇ ｍｏｎｅｙ Ｓｉｎｃｅ ｔｈｅ ｐｏｗｅｒ ｏｆ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｔｏ ａｄｄ ｔｏ ｔｈｅ ｎｏｔｅ ｉｓｓｕｅ ｉｓ ｌｉｍｉｔｅｄ ｂｙ ｌａｗ ｏｒ ｅｃｏｎｏｍｉｃ ｇｒｏｗｔｈ, ｂｏｒｒｏｗｉｎｇ ｉｓ ｔｈｅ ｏｎｌｙ ｗａｙ ｔｏ ｒａｉｓｅ ｆｕｎｄｓ ｕｎｌｅｓｓ ｍｏｎｅｙ ｉｓ ｇｒａｎｔｅｄ ｆｏｒ ｏｔｈｅｒ ｔｙｐｅ ｏｆ ｂｅｎｅｆｉｔｓ. Ａ ｇｏｖｅｒｎｍｅｎｔ ｍａｙ ｂｏｒｒｏｗ ｍｏｎｅｙ ｆｒｏｍ ｇｉａｎｔ ｌｅｎｄｅｒｓ ｏｒ ｒｉｃｈ ｃｏｕｎｔｒｉｅｓ. Ｉｔ ｍａｙ ａｌｓｏ ｂｏｒｒｏｗ ｍｏｎｅｙ ｆｒｏｍ ｐｕｂｌｉｃ ａｇａｉｎｓｔ ｍａｒｋｅｔａｂｌｅ ｇｏｖｅｒｎｍｅｎｔ ｓｅｃｕｒｉｔｉｅｓ. Ｆｕｎｄｓ ａｒｅ ｄｅｐｏｓｉｔｅｄ ｉｎｔｏ ｂａｎｋｉｎｇ ａｃｃｏｕｎｔｓ. Ｂａｎｋｓ ｒｅｔａｉｎ ｃｕｒｒｅｎｔ ａｃｃｏｕｎｔｓ ａｎｄ ｂｏｒｒｏｗ ｄｅｐｏｓｉｔｓ. Ｓｐｅｃｕｌａｔｉｖｅ ａｃｔｉｖｉｔｉｅｓ ａｎｄ ｒｅｆｉｎａｎｃｉｎｇ ｔｏｏｌｓ ｉｎｊｅｃｔ ｍｏｒｅ ｌｉｑｕｉｄｉｔｙ ｔｏ ｔｈｅ ｂａｎｋｉｎｇ ｓｙｓｔｅｍ. Ｂａｎｋｓ ｒａｉｓｅ ｆｕｎｄｓ ｂｙ ａｃｔｉｖａｔｉｎｇ ｔｈｅ ｍｏｎｅｙ ｃｒｅａｔｉｏｎ ｐｒｏｃｅｓｓ. Ｂｏｔｈ ｂｏｒｒｏｗｅｄ ｄｅｐｏｓｉｔｓ ａｎｄ ｇｒａｎｔｅｄ ｃｒｅｄｉｔｓ ａｒｅ ｉｎｃｒｅａｓｉｎｇ. Ｉｓｓｕｅｄ ｍｏｎｅｙ ｉｎ ＵＳＡ ａｓ ａｔ Ｊａｎｕａｒｙ, 2007 ｗａｓ 750.5 ｂｉｌｌｉｏｎ ｄｏｌｌａｒｓ, ｗｈｉｌｅ ｃｏｍｍｅｒｃｉａｌ ｂａｎｋ ｍｏｎｅｙ (ｉｎ Ｍ2) ｗａｓ 6.33 ｔｒｉｌｌｉｏｎ ｄｏｌｌａｒｓ. Ｒａｉｓｉｎｇ ｆｕｎｄｓ ｔｈｒｏｕｇｈ ｉｓｓｕａｎｃｅ ｏｆ ｆｉａｔ ｍｏｎｅｙ ｏｒ ｂｏｒｒｏｗｉｎｇ ｍｏｎｅｙ ｉｎｖｏｌｖｅｓ ｅｎｃｏｕｒａｇｅｍｅｎｔ ｏｆ ｉｎｆｌａｔｉｏｎａｒｙ ｆｉｎａｎｃｉａｌ ａｃｔｉｖｉｔｉｅｓ. Ｍｏｒｅ ｍｏｎｅｙ ｉｓ ｎｅｅｄｅｄ ｔｏ ｐａｙ ｆｏｒ ｔｈｅｓｅ ａｃｔｉｖｉｔｉｅｓ. Ｉｎｔｅｒｅｓｔｓ ｏｒ ｐｒｏｆｉｔｓ ａｒｅ ｐａｉｄ ｉｎ ｒｅｔｕｒｎ ｆｏｒ ｌｅｎｄｉｎｇ. Ｐｒｏｆｉｔｓ ｆｒｏｍ ｓｙｎｔｈｅｔｉｃ ａｐｐｒｅｃｉａｔｉｏｎ ｏｆ ａｓｓｅｔｓ ａｒｅ ｐａｉｄ ｔｏ ｓｐｅｃｕｌａｔｏｒｓ. Ｆｉｎａｎｃｉａｌ ｃｏｒｒｕｐｔｉｏｎ ｇｒｏｗｓ ａｓ ｒｅｓｕｌｔ ｏｆ ｔｈｅ ｉｎｃｒｅａｓｅ ｉｎ ｐｕｂｌｉｃ ａｎｄ ｐｒｉｖａｔｅ ｓｐｅｎｄｉｎｇ. Ｔａｘｅｓ ａｒｅ ｎｏｔ ｏｎｌｙ ｕｓｅｄ ｔｏ ｆｉｎａｎｃｅ ｐｕｂｌｉｃ ｓｅｒｖｉｃｅｓ, ｂｕｔ ａｌｓｏ ｔｈｅｙ ａｒｅ ｕｓｅｄ ｔｏ ｓｅｔｔｌｅ ｐｕｂｌｉｃ ｄｅｂｔｓ, ｐａｙ ｉｎｔｅｒｅｓｔ ｏｎ ｐｕｂｌｉｃ ｄｅｂｔｓ, ａｎｄ ｃｏｖｅｒ ｆｉｎａｎｃｉａｌ ｃｏｒｒｕｐｔｉｏｎ ｉｎ ｐｕｂｌｉｃ ｓｅｃｔｏｒ. Ａｓ ｃｏｓｔ ｏｆ ｐｒｏｄｕｃｔｓ ｉｎｃｒｅａｓｅｓ, ｂｕｓｉｎｅｓｓ ｏｗｎｅｒｓ ｇａｉｎ ｍｏｒｅ ｐｒｏｆｉｔｓ ｔｏ ｋｅｅｐ ｕｐ ｗｉｔｈ ｔａｒｇｅｔ ｐｒｏｆｉｔ ｍａｒｇｉｎ. Ｓｉｎｃｅ ｔｈｅｓｅ ｆｉｎａｎｃｉａｌ ａｃｔｉｖｉｔｉｅｓ ｄｏ ｎｏｔ ｒｅｓｕｌｔ ｉｎ ａｎ ｉｎｃｒｅａｓｅ ｉｎ ｎａｔｉｏｎａｌ ｐｒｏｄｕｃｔ, ｔｈｅ ｖａｌｕｅ ｏｆ ｔｈｅ ｃｕｒｒｅｎｃｙ ｕｎｉｔ ｄｅｃｌｉｎｅｓ ｔｏ ｒｅｆｌｅｃｔ ａｎ ｉｎｃｒｅａｓｅ ｉｎ ｔｈｅ ｇｅｎｅｒａｌ ｌｅｖｅｌ ｏｆ ｐｒｉｃｅｓ. Ｉｔ ｉｓ ｏｂｖｉｏｕｓ ｔｈａｔ ｔｈｅ ｔｅｃｈｎｉｑｕｅ ｏｆ ｔｈｉｎｋｉｎｇ ｉｎ ｐｒｅｓｅｎｔ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ ｉｓ ｂａｓｅｄ ｏｎ ｃｒｅａｔｉｏｎ ｏｆ ｉｎｔｅｎｔｉｏｎａｌ ｉｎｆｌａｔｉｏｎ. Ｕｎｌｉｋｅ ｔｈｅ ｎａｔｕｒａｌ ｉｎｃｒｅａｓｅ ｉｎ ｐｒｉｃｅｓ ｗｈｉｃｈ ｒｅｆｌｅｃｔｓ ａｎ ｉｎｃｒｅａｓｅ ｉｎ ｔｈｅ ｒｅａｌ ｖａｌｕｅ ｏｆ ｐｒｏｄｕｃｔｓ, ｉｎｔｅｎｔｉｏｎａｌ ｉｎｆｌａｔｉｏｎ ｉｓ ｔｈｅ ｓｏｕｒｃｅ ｏｆ ａｌｌ ｅｖｉｌｓ; Ａ ｒｅｌａｔｉｖｅｌｙ ｓｍａｌｌ ｎｕｍｂｅｒ ｏｆ ｉｎｄｉｖｉｄｕａｌｓ ａｎｄ ｃｏｒｐｏｒａｔｉｏｎｓ ｃｏｎｔｒｏｌ ｈｕｇｅ ｐｏｏｌｓ ｏｆ ｃａｐｉｔａｌ. Ａ ｓｔｕｄｙ ｂｙ ｔｈｅ Ｗｏｒｌｄ Ｉｎｓｔｉｔｕｔｅ ｆｏｒ Ｄｅｖｅｌｏｐｍｅｎｔ Ｅｃｏｎｏｍｉｃｓ Ｒｅｓｅａｒｃｈ ａｔ Ｕｎｉｔｅｄ Ｎａｔｉｏｎｓ Ｕｎｉｖｅｒｓｉｔｙ ｒｅｐｏｒｔｓ ｔｈａｔ ｔｈｅ ｒｉｃｈｅｓｔ 1% ｏｆ ａｄｕｌｔｓ ａｌｏｎｅ ｏｗｎｅｄ 40% ｏｆ ｇｌｏｂａｌ ａｓｓｅｔｓ ｉｎ ｔｈｅ ｙｅａｒ 2000, ａｎｄ ｔｈａｔ ｔｈｅ ｒｉｃｈｅｓｔ 10% ｏｆ ａｄｕｌｔｓ ａｃｃｏｕｎｔｅｄ ｆｏｒ 85% ｏｆ ｔｈｅ ｗｏｒｌｄ ｔｏｔａｌ ａｓｓｅｔｓ. Ｔｈｅ ｂｏｔｔｏｍ ｈａｌｆ ｏｆ ｔｈｅ ｗｏｒｌｄ ａｄｕｌｔｓ ｏｗｎｅｄ 1% ｏｆ ｇｌｏｂａｌ ｗｅａｌｔｈ. Ａｌｃｏｈｏｌｉｓｍ, ｆａｍｉｌｉｅｓ ｂｒｅａｋｉｎｇ ｕｐ ａｎｄ ｉｎｃｒｅａｓｅｄ ｃｒｉｍｉｎａｌ ｒａｔｅ, ｐｕｂｌｉｃ ｄｅｍｏｎｓｔｒａｔｉｏｎｓ, ｐｏｌｉｔｉｃａｌ ｉｎｓｔａｂｉｌｉｔｙ ａｎｄ ｒｅｖｏｌｕｔｉｏｎｓ ｒｅｐｒｅｓｅｎｔ ａｄｄｉｔｉｏｎａｌ ｃｏｓｔｓ ｏｆ ｃｏｎｃｅｎｔｒａｔｉｏｎ ｏｆ ｗｅａｌｔｈ. Ｐｒｉｃｅｓ ｓｏａｒ. Ｄｅｍａｎｄ ｆａｌｌｓ. Ｅｘｐｏｒｔｓ ｂｅｃｏｍｅ ｍｏｒｅ ｅｘｐｅｎｓｉｖｅ ｔｏ ｓｅｌｌ. Ｉｍｐｏｒｔｓ ｉｎｃｒｅａｓｅ. Ｐｒｅｓｓｕｒｅ ｆｏｒ ｉｎｃｒｅａｓｅｄ ｗａｇｅｓ ｍｏｕｎｔｓ ｔｏ ｋｅｅｐ ｕｐ ｗｉｔｈ ｃｏｎｓｕｍｅｒ ｐｒｉｃｅｓ. Ｓｕｐｐｌｉｅｒｓ ｒｅｓｐｏｎｄ ｔｏ ｔｈｅ ｆａｌｌ ｉｎ ｄｅｍａｎｄ. Ｓｏｍｅ ｇｏ ｏｕｔ ｏｆ ｂｕｓｉｎｅｓｓ. Ｓｏｍｅ ｒｅｄｕｃｅ ｎｕｍｂｅｒ ｏｆ ｌａｂｏｒｓ. Ｓｉｎｃｅ ｆｕｌｌ ｅｍｐｌｏｙｍｅｎｔ ａｎｄ ｆａｓｔ ｏｕｔｐｕｔ ｇｒｏｗｔｈ ａｒｅ ｂｏｔｈ ｐｒｏｍｏｔｅｄ ｂｙ ｈｉｇｈ ｌｅｖｅｌ ｏｆ ｉｎｖｅｓｔｍｅｎｔ, ｔｈｅ ｄｅｃｌｉｎｅ ｉｎ ｏｕｔｐｕｔ ｇｒｏｗｔｈ ｒａｔｅ ｍａｋｅｓ ｕｎｅｍｐｌｏｙｍｅｎｔ ｒａｔｅ ｒｉｓｅ. Ｔｈｅ ｖａｌｕｅ ｏｆ ｔｈｅ ｍｏｎｅｔａｒｙ ｕｎｉｔ ｄｅｃｌｉｎｅｓ. Ｉｎｆｌａｔｉｏｎ, ａｓ ａ ｒｅｓｕｌｔ ｏｆ ｔｈｅ ｅｘｃｅｓｓｉｖｅ ｅｘｐａｎｓｉｏｎ ｏｆ ｃｒｅｄｉｔ, ｉｓ ｒｅｓｐｏｎｓｉｂｌｅ ｆｏｒ ａｌｍｏｓｔ ａｌｌ ｆｉｎａｎｃｉａｌ ｃｒｉｓｅｓ ｉｎｃｌｕｄｉｎｇ ｔｈｅ Ｗａｌｌ Ｓｔｒｅｅｔ Ｃｒａｓｈ ｏｆ 1929, ｔｈｅ 2008 ＵＳ Ｍｏｒｔｇａｇｅ Ｃｒｉｓｉｓ, ｔｈｅ 1997 Ａｓｉａｎ Ｆｉｎａｎｃｉａｌ Ｃｒｉｓｉｓ, 1998 Ｒｕｓｓｉａｎ Ｆｉｎａｎｃｉａｌ ｃｒｉｓｉｓ, ａｎｄ ｔｈｅ Ｌａｔｉｎ Ａｍｅｒｉｃａｎ Ｄｅｂｔ ｃｒｉｓｉｓ. Ｐｒｏｔｅｃｔｉｏｎ ｏｆ ｂａｎｋｉｎｇ ｄｅｐｏｓｉｔｓ ｉｓ ｉｎｔｒｏｄｕｃｅｄ ｔｏ ｊｕｓｔｉｆｙ ｓｕｐｐｏｒｔｉｎｇ ｔｈｅ ｆｉｎａｎｃｉａｌ ｓｙｓｔｅｍ ｉｎ ｃａｓｅ ｏｆ ｃｒｉｓｉｓ, ｂｕｔ ｔｈｅ ｐｒｏｃｅｓｓ ｉｎｖｏｌｖｅｓ ｓｏｃｉａｌ ｏｐｐｒｅｓｓｉｏｎ ａｓ ｇｏｖｅｒｎｍｅｎｔｓ ｕｓｅ ｍｏｎｅｙ ｏｗｎｅｄ ｂｙ ｉｎｎｏｃｅｎｔ ｐｅｏｐｌｅ ｔｏ ｒｅｗａｒｄ ｆｉｎａｎｃｉａｌ ｉｎｓｔｉｔｕｔｉｏｎｓ ｆｏｒ ｔｈｅｉｒ ｒｅｃｋｌｅｓｓ ｅｘｃｅｓｓｉｖｅ ｅｘｐａｎｓｉｏｎ ｏｆ ｃｒｅｄｉｔｓ. Ｇｉａｎｔ ｌｅｎｄｅｒｓ ｇｅｎｅｒａｔｅ ｉｎｔｅｒｅｓｔｓ ａｎｄ ｒｅｄｉｒｅｃｔ ｌｏｃａｌ ｅｃｏｎｏｍｉｃ ｐｌａｎｓ ａｎｄ ｐｏｌｉｔｉｃａｌ ｄｅｃｉｓｉｏｎｓ ｉｎ ｓｕｃｈ ａ ｗａｙ ｔｏ ｂｅ ｉｎ ｔｈｅｉｒ ｆａｖｏｒ. Ｂａｓｅｄ ｏｎ ｔｈｉｓ ｔｅｃｈｎｉｑｕｅ ｏｆ ｔｈｉｎｋｉｎｇ, ｔｈｅ ｏｂｊｅｃｔｉｖｅ ｏｆ ｔｈｅ ｍｏｎｅｔａｒｙ ｐｏｌｉｃｙ ｈａｓ ｃｈａｎｇｅｄ. Ｗｈｉｌｅ ｔｈｅ ｐｒｉｍａｒｙ ａｉｍ ｏｆ ａｎｙ ｓｏｕｎｄ ｍｏｎｅｔａｒｙ ｐｏｌｉｃｙ ｉｓ ｔｏ ｒｅａｃｈ ａｎ ｏｐｔｉｍａｌ ｌｅｖｅｌ ｏｆ ｏｕｔｐｕｔ ｇｒｏｗｔｈ ｉｎ ｏｒｄｅｒ ｔｏ ｍｅｅｔ ｔｈｅ ｅｃｏｎｏｍｉｃ ｒｅｑｕｉｒｅｍｅｎｔｓ ｏｆ ｔｈｅ ｃｏｍｍｕｎｉｔｙ ａｎｄ ｔｏ ｅｎｓｕｒｅ ｆｕｌｌ ｅｍｐｌｏｙｍｅｎｔ ｏｆ ａｖａｉｌａｂｌｅ ｌａｂｏｒ ｆｏｒｃｅ, ｔｈｅ ｒｅａｌ ｃｈｏｉｃｅ ｂｅｃｏｍｅｓ ｂｅｔｗｅｅｎ ｍｏｒｅ ｏｒ ｌｅｓｓ ｏｕｔｐｕｔ ｇｒｏｗｔｈｓ ｃｏｕｐｌｅｄ ｗｉｔｈ ｍｏｒｅ ｏｒ ｌｅｓｓ ｉｎｆｌａｔｉｏｎ. Ｅｃｏｎｏｍｉｃ ｇｒｏｗｔｈ ｂｅｃｏｍｅｓ ｄｅｐｅｎｄｅｎｔ ｕｐｏｎ ａｖａｉｌａｂｉｌｉｔｙ ｏｆ ｍｏｎｅｙ. Ｏｖｅｒ ａｎｄ ａｂｏｖｅ, ｉｓｓｕａｎｃｅ ｏｆ ｍｏｎｅｙ ｃｏｖｅｒｅｄ ｂｙ ｃｕｒｒｅｎｃｙ ｂａｃｋｉｎｇ ｉｎｖｏｌｖｅｓ ｈｏａｒｄｉｎｇ ｏｆ ｍｏｎｅｔａｒｙ ｒｅｓｏｕｒｃｅｓ. Ｉｎ ｏｒｄｅｒ ｔｏ ｌｅｓｓｅｎ ｔｈｅ ｇｈａｓｔｌｙ ｉｍｐａｃｔｓ ｏｆ ｉｎｆｌａｔｉｏｎ, ｍｏｎｅｔａｒｙ ａｎｄ ｆｉｓｃａｌ ｐｏｌｉｃｉｅｓ ａｒｅ ｄｉｒｅｃｔｅｄ ｔｏｗａｒｄ ｃｏｎｔｒｏｌｌｉｎｇ ｑｕａｎｔｉｔｙ ｏｆ ｍｏｎｅｙ. Ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｃｏｎｔｒｏｌｓ ｉｎｔｅｒｅｓｔ ｒａｔｅ, ｂａｎｋ ｄｉｓｃｏｕｎｔ ｒａｔｅ, ｂａｎｋｉｎｇ ｌｉｑｕｉｄｉｔｙ ｒａｔｉｏｓ, ｑｕａｎｔｉｔｙ ｏｆ ｉｓｓｕｅｄ ｆｉａｔ ｍｏｎｅｙ, ａｎｄ ｒａｔｅ ｏｆ ｃｕｒｒｅｎｃｙ ｅｘｃｈａｎｇｅ. Ｔｈｅ ｇｏｖｅｒｎｍｅｎｔ ｃｏｎｔｒｏｌｓ ｐｒｉｃｅｓ, ｗａｇｅｓ, ｇｏｖｅｒｎｍｅｎｔ ｓｐｅｎｄｉｎｇ, ａｎｄ ｔａｘｅｓ. Ａ ｃｏｕｎｔｒｙ ｍａｙ ａｐｐｌｙ ａ ｓｐｅｎｄｉｎｇ ｃｕｔ ｐｏｌｉｃｙ ａｔ ｔｈｅ ｅｘｐｅｎｓｅ ｏｆ ｒａｉｓｉｎｇ ｕｎｅｍｐｌｏｙｍｅｎｔ ｒａｔｅ ａｎｄ ｒｅｄｕｃｔｉｏｎ ｉｎ ｔｈｅ ｒａｔｅ ｏｆ ｏｕｔｐｕｔ ｇｒｏｗｔｈ. Ｐｒｅｓｅｎｔａｔｉｏｎ ｏｆ ａｎ ａｌｔｅｒｎａｔｉｖｅ ｍｏｎｅｔａｒｙ ｐｏｌｉｃｙ Ｒｅｃｅｎｔ ｖｏｉｃｅｓ ｈａｖｅ ｂｅｅｎ ｒａｉｓｅｄ ｔｏ ｅｍｐｈａｓｉｚｅ ｔｈｅ ｎｅｃｅｓｓｉｔｙ ｏｆ ｇｅｔｔｉｎｇ ｒｉｄ ｏｆ ｉｎｆｌａｔｉｏｎ. Ｗｉｔｈ ｒｅｆｅｒｅｎｃｅ ｔｏ ｔｈｅ Ｎａｔｉｏｎａｌ Ｅｍｅｒｇｅｎｃｙ Ｅｍｐｌｏｙｍｅｎｔ Ｄｅｆｅｎｓｅ (ＮＥＥＤ) Ａｃｔ ｏｆ 2011, ＨＲ 2990 ｉｎｔｒｏｄｕｃｅｄ ｂｙ Ｃｏｎｇｒｅｓｓｍａｎ Ｄｅｎｎｉｓ Ｋｕｃｉｎｉｃｈ, ｉｔ ｉｓ ｓｔａｔｅｄ ｔｈａｔ "ｔｈｅ ｐｕｒｐｏｓｅ ｏｆ ｔｈｉｓ ａｃｔ ｉｓ ｔｏ ｃｒｅａｔｅ ａ Ｍｏｎｅｔａｒｙ Ａｕｔｈｏｒｉｔｙ ｗｈｉｃｈ ｓｈａｌｌ ｐｕｒｓｕｅ ａ ｍｏｎｅｔａｒｙ ｐｏｌｉｃｙ ｂａｓｅｄ ｏｎ ｔｈｅ ｇｏｖｅｒｎｉｎｇ ｐｒｉｎｃｉｐｌｅ ｔｈａｔ ｔｈｅ ｓｕｐｐｌｙ ｏｆ ｍｏｎｅｙ ｉｎ ｃｉｒｃｕｌａｔｉｏｎ ｓｈｏｕｌｄ ｎｏｔ ｂｅｃｏｍｅ ｉｎｆｌａｔｉｏｎａｒｙ ｎｏｒ ｄｅｆｌａｔｉｏｎａｒｙ ｉｎ ａｎｄ ｏｆ ｉｔｓｅｌｆ, … ａｎｄ ｔｏ ａｂｏｌｉｓｈ ｔｈｅ ｃｒｅａｔｉｏｎ ｏｆ ｍｏｎｅｙ, ｏｒ ｐｕｒｃｈａｓｉｎｇ ｐｏｗｅｒ, ｂｙ ｐｒｉｖａｔｅ ｐｅｒｓｏｎｓ ｔｈｒｏｕｇｈ ｌｅｎｄｉｎｇ ａｇａｉｎｓｔ ｄｅｐｏｓｉｔｓ". Ｔｈｅ ｔａｒｇｅｔ ｏｆ ｏｐｔｉｍａｌ ｏｕｔｐｕｔ ｇｒｏｗｔｈ ｗｉｔｈ ｆｕｌｌ ｅｍｐｌｏｙｍｅｎｔ ｃａｎ ｂｅ ａｃｈｉｅｖｅｄ ｗｉｔｈｏｕｔ ｐｒｏｄｕｃｉｎｇ ｉｎｆｌａｔｉｏｎ. Ｔｈｅ ｉｄｅａ ｉｓ ｖｅｒｙ ｓｉｍｐｌｅ. Ｔｗｏ ｐａｒｔｓ ａｒｅ ｉｎｖｏｌｖｅｄ ｉｎ ｅａｃｈ ｅｘｃｈａｎｇｅ ｔｒａｎｓａｃｔｉｏｎ; ａ ｐａｙｅｒ ｐａｙｓ ａｎ ａｍｏｕｎｔ ｏｆ ｍｏｎｅｙ ａｎｄ ａ ｒｅｃｉｐｉｅｎｔ ｒｅｃｅｉｖｅｓ ｔｈｅ ｓａｍｅ ａｍｏｕｎｔ ｏｆ ｍｏｎｅｙ. Ｔｈｅ ｅｘｃｈａｎｇｅ ｐｒｏｃｅｓｓ ｈａｓ ｎｏ ｅｆｆｅｃｔ ｏｎ ｔｈｅ ｑｕａｎｔｉｔｙ ｏｆ ｍｏｎｅｙ ｉｎ ｈａｎｄｓ. Ｂａｓｅｄ ｏｎ ｔｈｉｓ ｓｉｍｐｌｅ ｔｒｕｉｓｍ, ｔｈｅ ｔａｒｇｅｔ ｏｆ ｅｃｏｎｏｍｉｃ ｇｒｏｗｔｈ ｃａｎ ｂｅ ａｃｈｉｅｖｅｄ ｗｉｔｈ ｃｏｎｓｔａｎｔ ｑｕａｎｔｉｔｙ ｏｆ ｍｏｎｅｙ. Ｉｎｓｔｅａｄ ｏｆ ｃｏｎｔｒｏｌｌｉｎｇ ｑｕａｎｔｉｔｙ ｏｆ ｍｏｎｅｙ, ａｎ ａｌｔｅｒｎａｔｉｖｅ ｍｏｎｅｔａｒｙ ｐｏｌｉｃｙ ｃａｎ ｂｅ ｓｅｔ ｔｏ ｃｏｎｔｒｏｌ ｍｏｖｅｍｅｎｔ ｏｆ ｍｏｎｅｙ ｉｎ ｏｒｄｅｒ ｔｏ ｅｎｓｕｒｅ ｔｈａｔ ｍｏｎｅｙ ｉｓ ｅａｒｎｅｄ ｉｎ ｒｅｔｕｒｎ ｆｏｒ ｃｏｎｔｒｉｂｕｔｉｏｎ ｉｎ ｐｒｏｄｕｃｔｉｖｅ ａｃｔｉｖｉｔｉｅｓ. Ｎａｔｉｏｎａｌ ｏｕｔｐｕｔ ｉｓ ｔｈｅ ｒｅａｌ ｃｕｒｒｅｎｃｙ ｂａｃｋｉｎｇ. Ｔｈｅ ｎｅｗ ａｐｐｒｏａｃｈ ｒｅｑｕｉｒｅｓ ｔｒａｎｓｆｏｒｍａｔｉｏｎ ｏｆ ｐｒｅｓｅｎｔ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ ｔｏ ａ ｃｌｏｓｅｄ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ. Ａｃｃｏｒｄｉｎｇ ｔｏ ｔｈｅ ｃｌｏｓｅｄ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ, ａ ｇｏｖｅｒｎｍｅｎｔａｌ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｗｉｌｌ ｅｘｃｌｕｓｉｖｅｌｙ ｐｒｏｖｉｄｅ ａｌｌ ｂａｎｋｉｎｇ ｓｅｒｖｉｃｅｓ ｉｎ ｌｏｃａｌ ａｎｄ ｆｏｒｅｉｇｎ ｃｕｒｒｅｎｃｉｅｓ. Ｃｕｒｒｅｎｃｉｅｓ ａｒｅ ｅｘｃｈａｎｇｅｄ ａｔ ｔｈｅ ｖａｌｉｄ ｍａｒｋｅｔ ｅｘｃｈａｎｇｅ ｒａｔｅ. Ｗｉｔｈ ｒｅｇａｒｄ ｔｏ ｍｏｎｅｙ ｉｎ ｌｏｃａｌ ｃｕｒｒｅｎｃｙ, ｃａｓｈ ｍｏｎｅｙ ｗｉｌｌ ｂｅ ｒｅｃａｌｌｅｄ ｆｏｒ ｃａｎｃｅｌｌａｔｉｏｎ ａｎｄ ｂａｎｋｉｎｇ ｄｅｐｏｓｉｔｓ ｗｉｌｌ ｂｅ ｔｒａｎｓｆｅｒｒｅｄ ｔｏ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ. Ｕｎｒｅｓｔｒｉｃｔｅｄ ｉｎｔｅｒｅｓｔ-ｆｒｅｅ ｄｅｐｏｓｉｔ ａｃｃｏｕｎｔ ｉｎ ｔｈｅ ｎａｍｅ ｏｆ ｔｈｅ ｍｏｎｅｙ ｏｗｎｅｒ ｗｉｌｌ ｂｅ ｒｅｔａｉｎｅｄ ｂｙ ｔｈｅ ａｕｔｈｏｒｉｔｙ. Ｓｉｎｃｅ ａｌｌ ｐａｙｍｅｎｔｓ ｒｅｐｒｅｓｅｎｔ ｔｒａｎｓｆｅｒｓ ｂｅｔｗｅｅｎ ａｃｃｏｕｎｔｓ ｗｉｔｈ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ, ｔｏｔａｌ ｏｆ ｄｅｐｏｓｉｔｓ ｗｉｌｌ ｒｅｍａｉｎ ｃｏｎｓｔａｎｔ. Ｔｈｅ ｍｅｃｈａｎｉｓｍ ｏｆ ｔｈｅ ｓｙｓｔｅｍ ｉｓ ｄｅｓｃｒｉｂｅｄ ａｓ ｆｏｌｌｏｗｓ; Ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｗｉｌｌ ｎｏｔ ｉｓｓｕｅ ｍｏｎｅｙ. Ｆｏｒ ｓｕｎｄｒｙ ｅｘｐｅｎｓｅｓ, ｐｒｅｐａｉｄ ｃａｓｈ ｎｏｔｅｓ ｉｎ ｓｅｖｅｒａｌ ｄｅｎｏｍｉｎａｔｉｏｎｓ ｏｒ ｐｒｅｐａｉｄ ｅｌｅｃｔｒｏｎｉｃ ｃａｒｄｓ ｗｉｔｈ ｏｒ ｗｉｔｈｏｕｔ ｃｅｉｌｉｎｇ, ｗｉｌｌ ｂｅ ｉｓｓｕｅｄ ｂｙ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ａｎｄ ｓｏｌｄ ｔｏ ｔｈｅ ａｃｃｏｕｎｔ ｈｏｌｄｅｒ ｆｏｒ ｉｔｓ ｆａｃｅ ｖａｌｕｅ. Ｂａｎｋｉｎｇ ｄｅｐｏｓｉｔｓ ｗｉｌｌ ｂｅ ｒｅｐｌａｃｅｄ ｂｙ ｆｕｎｄｓ ｒａｉｓｅｄ ｂｙ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｉｎ ｏｒｄｅｒ ｔｏ ｆｉｎａｎｃｅ ｒｅａｌ ｐｒｏｄｕｃｔｉｖｅ ａｃｔｉｖｉｔｉｅｓ ｔｈｒｏｕｇｈ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｉｅｓ. Ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｗｉｌｌ ｇｅｎｅｒａｔｅ ｐｒｏｆｉｔｓ ｏｕｔ ｏｆ ｐｒｏｖｉｓｉｏｎ ｏｆ ｆｕｎｄｓ. Ｐｒｏｆｉｔｓ ｒｅｐｒｅｓｅｎｔ ｎｅｗ ｓｏｕｒｃｅ ｏｆ ｐｕｂｌｉｃ ｒｅｖｅｎｕｅ. Ｐｒｅｓｅｎｔ ｉｎｔｅｒｅｓｔ-ｂａｓｅｄ ｌｅｎｄｉｎｇ ｓｙｓｔｅｍ ｗｉｌｌ ｂｅ ｒｅｐｌａｃｅｄ ｂｙ ｃｕｒｒｅｎｔ ｃａｐｉｔａｌ ｆｉｎａｎｃｅ ｓｙｓｔｅｍ. Ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｉｅｓ ｓｈａｌｌ ｒｅｐｌａｃｅ ｐｒｅｓｅｎｔ ｂａｎｋｓ ａｎｄ ｌｅｎｄｉｎｇ ｉｎｓｔｉｔｕｔｉｏｎｓ. Ｔｈｅｙ ａｒｅ ｈｉｇｈｌｙ ｓｐｅｃｉａｌｉｚｅｄ ａｎｄ ｗｅｌｌ-ｅｑｕｉｐｐｅｄ ｆｏｒ-ｐｒｏｆｉｔ ｅｎｔｉｔｉｅｓ ａｃｔ ａｓ ａｎ ｉｎｔｅｒｍｅｄｉａｒｙ ｔｏ ｆｉｎａｎｃｅ ｐｒｏｄｕｃｔｉｖｅ ｐｒｏｊｅｃｔｓ (ｏｒ ｔｒａｄｉｎｇ ｄｅａｌｓ) ｕｎｄｅｒ ｔｈｅ ｓｕｐｅｒｖｉｓｉｏｎ ｏｆ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ. Ｕｐｏｎ ｒｅｑｕｅｓｔ ｏｆ ｔｈｅ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｙ, ｃｏｓｔ ｏｆ ｔｈｅ ｐｒｏｊｅｃｔ ｗｉｌｌ ｂｅ ｔｒａｎｓｆｅｒｒｅｄ ｆｒｏｍ ｉｔｓ ａｃｃｏｕｎｔ ｔｏ ｔｈｅ ａｃｃｏｕｎｔ ｏｆ ｔｈｅ ｐｒｏｖｉｄｅｒ ｏｆ ｇｏｏｄｓ ｏｒ ｓｅｒｖｉｃｅｓ. Ｕｐｏｎ ｒｅｑｕｅｓｔ ｏｆ ｔｈｅ ｐａｙｅｒ, ｒｅｖｅｎｕｅ ｏｆ ｔｈｅ ｐｒｏｊｅｃｔ ｗｉｌｌ ｂｅ ｔｒａｎｓｆｅｒｒｅｄ ｆｒｏｍ ｈｉｓ ａｃｃｏｕｎｔ ｔｏ ｔｈｅ ａｃｃｏｕｎｔ ｏｆ ｔｈｅ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｙ. Ｔｈｅ ｄｅｂｉｔ ｂａｌａｎｃｅｓ ｏｆ ｔｈｅ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｙ ｗｈｉｃｈ ｒｅｌａｔｅｓ ｔｏ ｔｈｅ ｐｒｏｊｅｃｔ ｗｉｌｌ ｓｈｏｗ ｔｈｅ ｍｏｖｅｍｅｎｔ ｏｆ ｔｈｅ ｃａｐｉｔａｌ ｉｎｖｅｓｔｅｄ ｂｙ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ ｉｎ ｔｈｅ ｐｒｏｊｅｃｔ. Ｔｈｅ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｙ ｗｉｌｌ ｋｅｅｐ ｓｅｐａｒａｔｅ ｈｉｓｔｏｒｉｃａｌ ａｃｃｏｕｎｔｉｎｇ ｒｅｃｏｒｄｓ ｆｏｒ ｅａｃｈ ｐｒｏｊｅｃｔ. Ｔｈｅ ｒｅｌａｔｉｏｎｓｈｉｐ ｂｅｔｗｅｅｎ ａ ｆｉｎａｎｃｉｎｇ ｅｎｔｉｔｙ (ａｓ ａｎ ｉｎｔｅｒｍｅｄｉａｒｙ), ｉｔｓ ｃｕｓｔｏｍｅｒ (ａｓ ａ ｐａｒｔｎｅｒ), ａｎｄ ｔｈｅ ｍｏｎｅｔａｒｙ ａｕｔｈｏｒｉｔｙ (ａｓ ａ ｆｉｎａｎｃｉｅｒ) ｗｉｌｌ ｂｅ ｂａｓｅｄ ｏｎ ｐｒｏｆｉｔ/ｌｏｓｓ ｓｈａｒｉｎｇ ｃｏｎｔｒａｃｔ. Ｔｈｅ ｃｏｎｔｒａｃｔ ｗｉｌｌ ｓｐｅｃｉｆｙ ｔｈｅ ｉｎｉｔｉａｌ ｃａｐｉｔａｌ ｏｆ ｔｈｅ ｐｒｏｊｅｃｔ ａｎｄ ｔｈｅ ｍｉｎｉｍｕｍ ｃａｐｉｔａｌ ｓｈａｒｅ ｗｈｉｃｈ ｓｈｏｕｌｄ ｂｅ ｍａｉｎｔａｉｎｅｄ ｂｙ ｔｈｅ ｐａｒｔｎｅｒ. Ｉｔ ｗｉｌｌ ａｌｓｏ ｓｈｏｗ ｔｈｅ ｐｒｏｆｉｔ ｓｈａｒｅ ｏｆ ｅａｃｈ ｐａｒｔｙ ｉｎ ｒｅｔｕｒｎ ｆｏｒ ｈｉｓ ｅｆｆｏｒｔｓ ｏｒ ｗｏｒｋ. Ｐｒｏｆｉｔ ｉｓ ｒｅｃｏｇｎｉｚｅｄ ｏｎ ｃａｓｈ ｂａｓｅ ａｆｔｅｒ ｃａｐｉｔａｌ ｉｓ ｂｅｉｎｇ ｆｕｌｌｙ ｒｅｆｕｎｄｅｄ. Ｌｏｓｓ ｉｓ ｒｅｃｏｇｎｉｚｅｄ ｂｙ ｌｉｑｕｉｄａｔｉｏｎ ｏｆ ｔｈｅ ｐｒｏｊｅｃｔ. Ｃａｐｉｔａｌ ｒｅｆｕｎｄ ｗｉｌｌ ｂｅ ｍａｄｅ ｉｎ ｐｒｏｐｏｒｔｉｏｎ ｔｏ ｔｈｅ ｂａｌａｎｃｅ ｏｆ ｉｎｖｅｓｔｅｄ ｃａｐｉｔａｌ. Ｏｎ ｒｅｃｏｇｎｉｔｉｏｎ ｄａｔｅ, ｐｒｏｆｉｔ ｓｈａｒｅｓ ｉｎ ｒｅｔｕｒｎ ｆｏｒ ｗｏｒｋ ｗｉｌｌ ｂｅ ｐａｉｄ, ａｎｄ ｔｈｅｎ ｂａｌａｎｃｅ ｏｆ ｐｒｏｆｉｔ (ｏｒ ｌｏｓｓ) ｗｉｌｌ ｂｅ ｄｉｓｔｒｉｂｕｔｅｄ ａｍｏｎｇ ｔｈｅ ｐａｒｔｎｅｒ ａｎｄ ｔｈｅ ｆｉｎａｎｃｉｅｒ ｉｎ ｐｒｏｐｏｒｔｉｏｎ ｔｏ ｔｈｅ ａｃｃｕｍｕｌａｔｅｄ ｉｎｖｅｓｔｅｄ ｃａｐｉｔａｌ ｃｏｍｐｕｔｅｄ ｏｎ ｄａｉｌｙ ｂａｓｅ. Ｔｈｅ ｃｌｏｓｅｄ ｍｏｎｅｔａｒｙ ｓｙｓｔｅｍ ｈａｓ ｍａｎｙ ａｄｖａｎｔａｇｅｓ. Ｉｓｓｕａｎｃｅ ｏｆ ｍｏｎｅｙ, ｂｏｒｒｏｗｉｎｇ, ｏｒ ｒｅｌｉａｎｃｅ ｏｎ ｆｏｒｅｉｇｎ ｉｎｖｅｓｔｍｅｎｔｓ ｗｉｌｌ ｂｅ ａｂｏｌｉｓｈｅｄ. Ｓｔｅａｌｉｎｇ, ｓｍｕｇｇｌｉｎｇ ｏｒ ｈｏａｒｄｉｎｇ ｏｆ ｍｏｎｅｙ ｗｉｌｌ ｂｅ ｄｉｓｃａｒｄｅｄ. Ｏｕｔｐｕｔ ｇｒｏｗｔｈ ｗｉｌｌ ｎｏｔ ｂｅ ｄｅｐｅｎｄｅｎｔ ｕｐｏｎ ａｖａｉｌａｂｉｌｉｔｙ ｏｆ ｍｏｎｅｙ. Ｔｈｅ ｉｎｆｌａｔｉｏｎａｒｙ ｒｏｌｌ ｏｆ ｍｏｎｅｙ ｗｉｌｌ ｂｅ ａｖｏｉｄｅｄ. Ｎｅｉｔｈｅｒ ｉｎｔｅｒｎａｔｉｏｎａｌ ｎｏｒ ｎａｔｉｏｎａｌ ｃｏｎｔｒｏｌｓ ｏｖｅｒ ｍｏｎｅｙ ｓｕｐｐｌｙ ｗｉｌｌ ｂｅ ｅｍｐｌｏｙｅｄ. Ａ ｃｏｕｎｔｒｙ ｗｉｌｌ ｎｏｔ ｂｅ ｌｉａｂｌｅ ｔｏ ｒｅｔａｉｎ ｃｕｒｒｅｎｃｙ ｂａｃｋｉｎｇ, ｆｏｒｅｉｇｎ ｃｕｒｒｅｎｃｙ ｒｅｓｅｒｖｅ, ｏｒ ｅｖｅｎ ｌｉｑｕｉｄｉｔｙ ｒｅｓｅｒｖｅｓ. Ｉｎｓｔｅａｄ ｏｆ ｓｅｅｋｉｎｇ ｆｏｒｅｉｇｎ ｆｕｎｄｓ, ａ ｇｏｖｅｒｎｍｅｎｔ ｗｉｌｌ ｕｓｅ ｉｔｓ ｒｅｖｅｎｕｅ ｏｆ ｆｏｒｅｉｇｎ ｃｕｒｒｅｎｃｉｅｓ ｔｏ ｉｍｐｏｒｔ ｆｏｒｅｉｇｎ ａｓｓｅｔｓ. Ｓｉｎｃｅ ｅａｃｈ ｄｅｐｏｓｉｔ ａｃｃｏｕｎｔ ｗｉｌｌ ｐｒｏｖｉｄｅ ａ ｃｏｍｐｌｅｔｅ ｒｅｃｏｒｄ ｏｆ ｒｅｃｅｉｐｔｓ ａｎｄ ｐａｙｍｅｎｔｓ ｏｆ ｔｈｅ ａｃｃｏｕｎｔ ｈｏｌｄｅｒ, ｔｈｅ ｓｙｓｔｅｍ ｗｉｌｌ ｈｅｌｐ ｃｒｅｄｉｔａｂｉｌｉｔｙ ｓｔｕｄｉｅｓ ａｎｄ ｉｎｔｒｏｄｕｃｅ ｅｆｆｅｃｔｉｖｅ ｔｏｏｌ ｔｏ ｃｏｍｂａｔ ｆｉｎａｎｃｉａｌ ｃｏｒｒｕｐｔｉｏｎ, ａｎｄ ｅｌｉｍｉｎａｔｅ ｉｌｌｅｇａｌ ｏｐｅｒａｔｉｏｎｓ, ｔａｘ ｅｖａｓｉｏｎ, ａｎｄ ｐｒｏｃｒａｓｔｉｎａｔｉｏｎ ｉｎ ｐａｙｉｎｇ ｄｅｂｔｓ ｂｙ ａ ｗｅａｌｔｈｙ ｍａｎ. Ｔｈｅ ｃｕｒｒｅｎｔ ｃａｐｉｔａｌ ｆｉｎａｎｃｅ ｓｙｓｔｅｍ ｓｕｉｔｓ ｄｉｆｆｅｒｅｎｔ ｃａｓｈ ｆｌｏｗｓ ｏｆ ｄｉｆｆｅｒｅｎｔ ｐｒｏｊｅｃｔｓ ａｎｄ ｄｉｆｆｅｒｅｎｔ ｃｕｓｔｏｍｅｒｓ. Ｔｈｅ ｍｏｎｅｙ ｃｒｅａｔｉｏｎ ｐｒｏｃｅｓｓ ｗｉｌｌ ｎｏｔ ｂｅ ａ ｖａｌｉｄ ｉｓｓｕｅ. Ｃｏｎｃｌｕｓｉｏｎ Ｔｈｅ ｖｉｅｗｓ ｅｘｐｒｅｓｓｅｄ ｈｅｒｅ ａｒｅ ｕｎｄｏｕｂｔｅｄｌｙ ｄｒａｓｔｉｃａｌｌｙ ｄｉｆｆｅｒｅｎｔ ｆｒｏｍ ｔｈｅ ｖｉｅｗｓ ｏｆ ｏｔｈｅｒ ｒｅｓｅａｒｃｈｅｒｓ. Ｈｏｗｅｖｅｒ, ｆｉｎａｎｃｉａｌ ｄｉｓｔｒｅｓｓ ｉｓ ｉｎｃｒｅａｓｉｎｇ ａｎｄ ｐｅｏｐｌｅ ｗｉｌｌ, ｓｏｏｎｅｒ ｏｒ ｌａｔｅｒ, ｒｅａｌｉｚｅ ｔｈｅ ｔｒｕｔｈ ａｎｄ ｍａｋｅ ｃｏｎｃｅｒｔ ｅｆｆｏｒｔｓ ｔｏ ｇｒａｄｕａｌｌｙ ｅｍｂｒａｃｅ ａｎ ａｌｔｅｒｎａｔｉｖｅ ｓｙｓｔｅｍ ｔｈａｔ ｗｏｕｌｄ ｒｅｆｌｅｃｔ ａｄｖａｎｃｅ ｔｈｅ ｎｅｅｄｓ ｏｆ ｈｕｍａｎｉｔｙ ａｓ ａ ｗｈｏｌｅ. Ｙｏｕｒ ｃｏｍｍｅｎｔ ｗｉｌｌ ｂｅ ｈｉｇｈｌｙ ａｐｐｒｅｃｉａｔｅｄ ｍａｈｅｒｋａｂａｂｊｉ1@ｈｏｔｍａｉｌ.ｃｏｍ |
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