#科普 #量化寬鬆 #Fed怎麼印鈔的?
【哲安觀點 |「量化寬鬆QE」是如何運作的?掃盲貨幣迷思:貨幣政策不見得有貨幣】
⚡️我們把央行創造出來的紙鈔硬幣以及準備金稱為基礎貨幣(monetary base),而量化寬鬆所創造出來的貨幣即為基礎貨幣。
上面這兩段文字內容都提到了同一個名詞「乘數效應」,這個名詞常見的解釋意義為銀行透過基礎貨幣進行信用擴張造成貨幣供給呈現倍數增長的結果,這個擴張的方式即為透過存款來進行放款.....
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#同場加映
① 黃金大師槓上”梭哈比特幣的兒子”!Peter Schiff:「不讓你繼承遺產了」兒:「2BTC就能對沖你失利的投資」
https://pse.is/3d6c9j
② 經歷比特幣「千元暴跌至200鎂」,Reddit鄉民2015年泣訴:Hodler丈夫毀了她的幸福
https://pse.is/3czv38
①+② 美圖宣布購入「379顆比特幣 15,000ETH」成香港上市公司首例!蔡文勝:區塊鏈戰略的價值儲備
https://pse.is/3d4vae
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想創新的你,對於現況感到迷茫?
歡迎報名 3/19【2021科技的力量×社會新創不打烊】,透過成功品牌、政府單位的對談,剖析新創發展趨勢、大幅提升創業成功率!
✏活動詳情、報名請洽
👉 https://pse.is/3dchsh
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✅ 即時新聞鎖定 #動區Telegram
https://t.me/blocktemponews
✅ 每日新聞精選訂閱 #LINE:
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✅ 右轉動區 #千人投資討論群:
https://line.me/ti/g2/htySqS7SoKOuGGFx4Gn9dg
同時也有46部Youtube影片,追蹤數超過9萬的網紅Shiney,也在其Youtube影片中提到,A Total War Saga: TROY ซื้อเกมได้ที่ https://store.epicgames.com/legendauser/a-total-war-saga-troy A Total War Saga: TROY is the first in the award-...
「monetary base」的推薦目錄:
monetary base 在 無神論者的巴別塔 Facebook 的最佳解答
「香港M3比起Monetary Base高出9倍,外匯儲備只有M3不足一半,一旦出現信心危機,金融體系隨時無錢還,聯繫匯率玩完」
睇落好似頭頭是道,有哂專業名詞,然後再掛多個「前美銀高層」或者「前中資金融分析師」銜頭加強說服力,一段完美9噏就此完成。可悲嘅係,聲稱好撚多人聽嘅一眾「黃標KOL」,完全無人識反駁上面段嘢,甚至可能連上面講乜都唔知就ON99執口尾照噏一次,總之講到香港隨時仆街,叫人唱定美金就叫完成任務
好似之前美國以《凱撒法案》制裁敘利亞,骨牌效應令黎巴嫩出現金融危機,然後又再一班時事KOL9噏乜嘢「制裁敘利亞係敲山震虎」、「黎巴嫩聯匯崩潰係美國警告香港手段」,我一睇又即刻頭痛。
好撚心啦,香港同黎巴嫩根本全無可比性,黎巴嫩個所謂聯繫匯率名存實亡咗好耐啦,響9噏之前你班撚屌又有無那怕睇過一篇正正經經分析文章?
當然係唔會啦。大佬呀我日日排住隊出咁多片,邊得閒浪費時間響呢啲地方上面呀?
Byron Tsang 曾國平: 亂吹一通的貨幣供應危機論
//近年聽過很多次的一個專家論點,就是港元貨幣基礎製造出接近九倍的貨幣供應M3,亦即「製造了九倍的槓桿」,其中大部分用於借貸,對象包括內地企業。
那香港的比例是否特別高呢?九倍的數字,是將港幣和外幣M3算在一起,有點誤導,只計算港幣M3的話,其實只有四倍幾,以「國際水平」來說不算特別高(至於這比例從經濟效率角度看是否理想,則是另一個複雜問題,不贅)。再者,也許是金融危機後銀行體系面對更多監管,近年香港M3與貨幣基礎的比例已回落不少。在金融危機前,比例就一度高達十幾倍。按照專家論點,其實今天香港「製造槓桿」的情況正處於低位,反而相對安全。//
https://bit.ly/3dpW4lJ
monetary base 在 不負責任金融研究中心 Facebook 的最佳貼文
09/05/2017:不負責任感想
文:梧杞杬
最近呢幾個月忙緊搞啲新嘢(finance but not speculation-related),所以除咗平時月底嘅放鬆之旅之外,有時候都要去見吓人同埋應酬吓,nowadays I'm really living up to the name--「不負責任」,喺香港嘅時間越嚟越少(都唔可以成日靠賴叔啦)。所以如果其他有料之人想搵個竇寫嘢嘅話,不妨可以考慮吓呢度。
唉,老實講,香港呢個地方真係越嚟越唔適合人住,可以嘅話真係想搬去上海或者台北住囉,但係老實講,講機會中港台嘅話始終係香港最多而且相對嚟講最容易嘅......
Anyway,呢篇都係諗住hea寫,不喜勿插啦屌。
其實最近都同唔少嘅朋友行家私底下討論過,2017年開始到而家,亞洲升得最撚勁嘅其中兩隻貨幣竟然係韓圜同台幣(在下個個月去台北所以特別feel到),所以好自然咁就梗係會睇吓呢兩個market啦。台灣央行嘅monetary policy基本上係跟南韓嘅(咁係direct competitor嘛,跟機好撚正常),所以如果齋講股票嘅話,其實台灣股市入面都不乏dividend同growth play(南韓growth play多,dividend play少啲)--又可以收息兼又可以賺匯水,所以其實台灣股市今年年初開始都破嗮頂(話嗮都打橫行咗好撚柒多年)。咩股票係dividend play咩係growth play在下就唔講啦,大家只要做吓功課就好容易搵到出嚟。不過大家要記得嘅係台灣同南韓都有收股息稅。
講吓大六。前一兩年唔知係因為dumb money多得滯定點啦,當時只要你有tech-related嘅project嘅話(尤其係Fintech),要攞funding簡直容易過去香檳大廈搵蝦條。咁而家香檳大廈都摺咗啦,而同時間大六嘅tech project亦都唔已經唔係好似以前咁咁容易搵到funding。在下最近發現嘅係,Fintech類嘅project其實仲有好多,不過係唔係quality就見人見智。其實如果有朋友幫過腦細執數搞IPO都應該會發現,特別係呢一兩年又大六嘔出嚟嘅好project數量越嚟越少,但係爭生意嘅人越嚟越多,咁咪即係個市而家得返一大堆爛橙(老實講好嘅project都唔論到普通街外人有得玩),但係爭爛橙嘅人就與日俱增。淋病選特首之前竟然仲有人放風話7月1號之後SFC阿頭要換人,在下心諗如果真係咁嘅話,香港財金界呢三五年最引以為傲嘅「啤殼」業真係成行摺鳩埋都唔掂。
又咁講啦,啤細殼股嘅莊家其實一直以嚟都有,就等於你永遠都會聽到身邊總有人炒細價股發咗達一樣。呢啲嘢有demand就自然有supply(都唔撚洗在下講個demand來自邊度囉可),只要一日仲有demand就會有supply(以後仲可能會再貴啲添)。而喺呢個有兵亦有賊嘅世界入面,當賊玩得太過份嘅時候,兵就會做嘢;話說當年因為某隻8字頭炒得太癲上嗮報紙而激發到SFC收緊GEM仔條例,所以之前有線單嘢出咗街之後在下其實有理由相信收緊主版啲例其實只係時間問題。喺可見嘅未來,相信啲股仔會越嚟越難玩,而且刁structure應該會越嚟越複雜。
唔講呢啲。
法國大選總算完滿落幕,而FOMC亦都暗示咗呢一兩個月嘅data只係幻覺嚟架啫,imply緊六月應該會再加多次息。香港跟唔跟機在下講咗N咁多次亦唔想再多講(每隔幾個月就攞返呢啲嘢出嚟翻炒,你唔悶在下都覺得悶撚死),反而在下想講嘅係--其實當呢個加息週期再維持過多一年嘅時候,美元其實好難唔強勢。咁當然啦,interest rate differential呢樣嘢係相對嘅,唔想美元強勢而其他貨幣轉弱,咁咪大家一齊加息囉(咁有無條件加就係另外一個問題啦)。
而且,FOMC而家嘅討論點已經唔係if或when或how much嘅問題,而係佢地喺未來嘅時間入面點樣去縮返自己個balance sheet。咁縮balance sheet嘅話就無可避免要減低monetary base架囉喎,即係所謂嘅收水。在下認為收唔收已經係FOMC嘅討論點,值得討論嘅係個balance sheet可以俾佢地縮到幾多。同時間大家睇吓歐洲嗰邊,雖然絕對唔可以話有recovery,但係亦已經唔再係谷底,在下推算嘅係其實ECB亦真係會有可能會部署喺未來一兩年內加息收水。而日本,最近嘅labour market situation亦見有所收緊。即係話,用年嘅時間去計嘅話,全世界最大嗰三間央行其實真係會收水的。咁呢啲經濟週期嘅嘢一定會有循環架喎,而家連人行都想諗藉口夾返高啲利息啦。尋日FT先講完話World Bank出咗份report話其實大六嘅影子銀行規模不跌反升,所以最近人行先係咁放風話要deleverage。
今日傍晚無啦啦條街係咁瘋傳大江又可能會東去,都唔撚知第幾次肛交棒,呢啲嘢在下都係奉勸大家咪諗咁多,聽吓就算,到時係真嘅先再算。不過話時話,今年係十九大,應該又勁撚多呢啲似是而非嘅政治動作。在下相信呢啲嘢唔會郁到個市嘅又,不過肯肯定嘅係花生價格肯定會大升。
最後,而家Trump捱過咗100日,而之前講嘅競選承諾亦開始續忽續忽成型(玩完Obamacare就玩tax reform),在下依然最擔心呢條友嘅地方係佢究竟會喺未來呢一兩年點樣樣玩啲trade policies,因為呢樣嘢就真係有可能郁到全世界嘅經濟(注意唔係講股市)。Economic forces係郁得好撚慢嘅,不過其實若然未到就只係時辰未到架姐,而當時辰到嘅時候,無乜嘢可以阻到佢。
而在下覺得恆指而家嘅問題係咩:就係而家H股開始連A股都唔係好跟,咁當一個市場本身已經無咩fundamentals可以睇嘅時候,究竟仲有啲咩可以用嚟做benchmark?而且大家要留意嘅係,其實港匯陰啲陰啲已經跌到7.785;同埋,無論係VHSI定係VIX都好,都已經跌到去一個十分低嘅位,即係暗示咗其實個市已經側埋咗一邊。嗱在下唔係話短其內一定會出咩事,不過可以肯定講嘅係--假如以後有咩事發生嘅時候,一定會人踩人咁解啫。
9up完。
monetary base 在 Shiney Youtube 的最讚貼文
A Total War Saga: TROY
ซื้อเกมได้ที่ https://store.epicgames.com/legendauser/a-total-war-saga-troy
A Total War Saga: TROY is the first in the award-winning strategy series to focus on the Bronze-Age Mediterranean and the legendary twenty-year conflict between the kingdoms of Troy and Mycenaean Greece, known as the Trojan War.
Total War Saga: Troy is a strategy computer game developed by the Creative Assembly Sofia and published by Sega. It is part of the Total War Saga sub-series and will be released on August 13, 2020 on the Epic Games Store, then on Steam in Summer 2021. As part of the 12 month exclusivity promotional deal with Epic Games, Total War Saga: Troy will be free of charge for the first 24h of it's release.
The game is set during the Trojan War in the Bronze Age, taking place the furthest back in time the series has ever covered.
The Greek gods featured in Troy can influence the game in similar ways to their Homeric counterparts, with their influence spanning entire factions, rather than directly intervening on the battlefield. Gaining favour with the different gods requires players to invest time or sacrifice resources, but also provides various benefits as the game progresses.
Although there is little documentation of Bronze Age naval warfare, naval combat has been included in the form of island battles, inspired by that featured in Total War: Warhammer II – Curse of the Vampire Coast. The Greek god Poseidon will play a major role in these battles.
Hero versus hero combat has been implemented in Troy, wherein two fighting heroes will be given room by nearby units, creating a circular battle area and preventing other units from intervening. Some heroes have an active battle ability called Divine Challenge, which taunts opposing characters into one-on-one combat. Eight heroes are included in the game, such as the Greek champion- Achilles, and the Prince of Troy- Hector.
A Trojan horse mechanic plays a major role within the campaign, appearing in the campaign at specific moments, and providing significant bonuses to players should it be acted upon quickly enough.
Troy introduces a new multiple resource economy that reflects the advancing pre-monetary barter economy of the Bronze Age setting. The five different resources are food, wood, stone, bronze, and gold, which can be found within different regions to varying degrees of scarcity. Food and wood are used to recruit early game units and construct simple buildings, whereas more formidable structures will require stone, and higher tier units will require bronze. Gold is vital for trade due to its universal rarity.
The diplomacy system in Troy builds on that featured in Total War: Three Kingdoms, allowing you to appease allies, your enemies in their place, allowing the player to change the entire course of the Trojan war. Other new diplomatic features which are unique to Troy will also be introduced.

monetary base 在 Shiney Youtube 的精選貼文
A Total War Saga: TROY
ซื้อเกมได้ที่ https://store.epicgames.com/legendauser/a-total-war-saga-troy
A Total War Saga: TROY is the first in the award-winning strategy series to focus on the Bronze-Age Mediterranean and the legendary twenty-year conflict between the kingdoms of Troy and Mycenaean Greece, known as the Trojan War.
Total War Saga: Troy is a strategy computer game developed by the Creative Assembly Sofia and published by Sega. It is part of the Total War Saga sub-series and will be released on August 13, 2020 on the Epic Games Store, then on Steam in Summer 2021. As part of the 12 month exclusivity promotional deal with Epic Games, Total War Saga: Troy will be free of charge for the first 24h of it's release.
The game is set during the Trojan War in the Bronze Age, taking place the furthest back in time the series has ever covered.
The Greek gods featured in Troy can influence the game in similar ways to their Homeric counterparts, with their influence spanning entire factions, rather than directly intervening on the battlefield. Gaining favour with the different gods requires players to invest time or sacrifice resources, but also provides various benefits as the game progresses.
Although there is little documentation of Bronze Age naval warfare, naval combat has been included in the form of island battles, inspired by that featured in Total War: Warhammer II – Curse of the Vampire Coast. The Greek god Poseidon will play a major role in these battles.
Hero versus hero combat has been implemented in Troy, wherein two fighting heroes will be given room by nearby units, creating a circular battle area and preventing other units from intervening. Some heroes have an active battle ability called Divine Challenge, which taunts opposing characters into one-on-one combat. Eight heroes are included in the game, such as the Greek champion- Achilles, and the Prince of Troy- Hector.
A Trojan horse mechanic plays a major role within the campaign, appearing in the campaign at specific moments, and providing significant bonuses to players should it be acted upon quickly enough.
Troy introduces a new multiple resource economy that reflects the advancing pre-monetary barter economy of the Bronze Age setting. The five different resources are food, wood, stone, bronze, and gold, which can be found within different regions to varying degrees of scarcity. Food and wood are used to recruit early game units and construct simple buildings, whereas more formidable structures will require stone, and higher tier units will require bronze. Gold is vital for trade due to its universal rarity.
The diplomacy system in Troy builds on that featured in Total War: Three Kingdoms, allowing you to appease allies, your enemies in their place, allowing the player to change the entire course of the Trojan war. Other new diplomatic features which are unique to Troy will also be introduced.

monetary base 在 Shiney Youtube 的精選貼文
A Total War Saga: TROY
ซื้อเกมได้ที่ https://store.epicgames.com/legendauser/a-total-war-saga-troy
A Total War Saga: TROY is the first in the award-winning strategy series to focus on the Bronze-Age Mediterranean and the legendary twenty-year conflict between the kingdoms of Troy and Mycenaean Greece, known as the Trojan War.
Total War Saga: Troy is a strategy computer game developed by the Creative Assembly Sofia and published by Sega. It is part of the Total War Saga sub-series and will be released on August 13, 2020 on the Epic Games Store, then on Steam in Summer 2021. As part of the 12 month exclusivity promotional deal with Epic Games, Total War Saga: Troy will be free of charge for the first 24h of it's release.
The game is set during the Trojan War in the Bronze Age, taking place the furthest back in time the series has ever covered.
The Greek gods featured in Troy can influence the game in similar ways to their Homeric counterparts, with their influence spanning entire factions, rather than directly intervening on the battlefield. Gaining favour with the different gods requires players to invest time or sacrifice resources, but also provides various benefits as the game progresses.
Although there is little documentation of Bronze Age naval warfare, naval combat has been included in the form of island battles, inspired by that featured in Total War: Warhammer II – Curse of the Vampire Coast. The Greek god Poseidon will play a major role in these battles.
Hero versus hero combat has been implemented in Troy, wherein two fighting heroes will be given room by nearby units, creating a circular battle area and preventing other units from intervening. Some heroes have an active battle ability called Divine Challenge, which taunts opposing characters into one-on-one combat. Eight heroes are included in the game, such as the Greek champion- Achilles, and the Prince of Troy- Hector.
A Trojan horse mechanic plays a major role within the campaign, appearing in the campaign at specific moments, and providing significant bonuses to players should it be acted upon quickly enough.
Troy introduces a new multiple resource economy that reflects the advancing pre-monetary barter economy of the Bronze Age setting. The five different resources are food, wood, stone, bronze, and gold, which can be found within different regions to varying degrees of scarcity. Food and wood are used to recruit early game units and construct simple buildings, whereas more formidable structures will require stone, and higher tier units will require bronze. Gold is vital for trade due to its universal rarity.
The diplomacy system in Troy builds on that featured in Total War: Three Kingdoms, allowing you to appease allies, your enemies in their place, allowing the player to change the entire course of the Trojan war. Other new diplomatic features which are unique to Troy will also be introduced.

monetary base 在 貨幣基底- 維基百科,自由的百科全書 的相關結果
貨幣基底(英語:Monetary base)又稱為準備貨幣(英語:Reserve money)、強力貨幣(英語:High power money),是指中央銀行發行幣值在外的計畫數量與僑生的購物的 ... ... <看更多>
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monetary base 在 Monetary Base; Total (BOGMBASE) | FRED | St. Louis Fed 的相關結果
Graph and download economic data for Monetary Base; Total (BOGMBASE) from Jan 1959 to Oct 2021 about monetary base and USA. ... <看更多>