How Forex Rebates Work

The five financial crises of the late Qing Dynasty the regulatory vacuum

HowForexRebatesWork stock boom How Forex Rebates Work the run on the tide of cashbackforexreview Hongkang bestforexrebaterates cashback forex  make the Shanghai stock market outbreak of the tide of rubber stock issued by the Lange Chi Tops (British businessman McBean created)   financial security is related to the countrys livelihood, the lack of regulation of the financial market crises four volatile open to foreign investors in the late Qing Dynasty, because there is no regulation of the financial market, there were 5 The financial crisis that affected the whole economy was caused by the two wars in 1866, the windfall in 1883, the windfall in 1883, the windfall in 1897, the windfall in rubber stocks in 1910 premiumrebateforex the windfall in 1911 during the revolutionary period when the money changers collapsed  1866:   The windfall caused by the two wars  In 1866, because of the American Civil War, the The end of the Taiping War led to financial turmoil in Shanghai  During the American Civil War, the world supply of cotton was less than demand, and cotton soared from 2 pence to 7 pence per pound, cotton speculation became popular, and cotton in northern China also became the object of foreign businessmens pursuit During this period there were four branches of British banks set up branches in Shanghai and Hong Kong, they were: the Huichuan Bank, the Lihua Bank, the Lisheng Bank and the Lisheng These banks in the operation of international exchange business and foreign exchange speculation, a lot of profits, the market price of shares rose sharply Leeward Bank shares with a face value of 10 pounds, the market price of 25 pounds But with the end of the American Civil War, the supply of cotton tends to normal, cotton prices fell sharply; in addition to the low international cotton prices, some Chinese traitors always in the cotton mixed with water and then packaged, so as to increase the weight for profit, the British merchant ship of cotton after the equator All rotten and moldy, so Hankow, Shanghai cotton stagnation, cotton prices fell further  June 1, 1864, the Xiang army sacked Tianjing, the Taiping War ended a large number of refugees in Shanghai to return home, Shanghai rented population fell back quickly, the original boom in real estate was a big impact, a large number of houses vacant, a large number of bad buildings, land prices plummeted, rents fell, many developers went bankrupt; and In the end, foreign banks in Shanghai suffered a catastrophic blow, 6 out of 11 banks failed, many cotton merchants, real estate developers, builders also fell apart, some even committed suicide  1883:   The reverse tide  reverse tide is a traditional Chinese financial term, referring to is a financial institution such as a money changer, ticket house, silver and other financial institutions put out of the account (loan) can not be collected because of reversal and suffered losses, as the saying goes, eat reverse accounts  1880 to 1883, Shanghai set off the climax of investment in industry, industrial and mining enterprises stock soaring, attracting a large number of speculative funds, September 1882, the stock market is very bull, bear market is also in the pipeline investors to speculate on the high shares of mutual collateral, the merchants In early 1883, near the end of the year, the silver tightened, many silk merchants trapped at this time, the Sino-French war was about to break out, foreign banks and Shanxi ticket from the bank to recover short-term money, individual depositors have also withdrawn cash, the bank forced accounts as if inverted accounts, many people took the opportunity to sell stocks, stock prices without funds to undertake and plunged, triggering a new inverted accounts and selling, the stock market collapsed, early 1883 The famous Jin Jiaji silk inn collapsed, owed 40 money changers a total of 560,000 yuan huge, implicated in the collapse of these 40 money changers; Hu Xueyans Fukang Xueji silver bankruptcy, a loss of 10 million taels of silver, and finally also collapsed; Shanghai Tangs largest real estate developers Xu Run, because the French army threatened to attack Shanghai, resulting in the bursting of the real estate bubble and bankruptcy, a loss of 3.4 million taels of silver, the ripple effect of 22 money changers collapsed  In the beginning of 1883, there were 78 money changers in Shanghai, and by the end of the year, only 10 were left. The price of general commodities fell by 30% to 50%, all houses were difficult to get rid of, and trade came to a complete halt  1897:   The sticker trend  The sticker is a kind of voucher issued by modern Chinese money changers, similar to todays term passbook. The first of its kind is the Chaozhou merchant gang opened in Shanghai, and the money bank, its provisions are: who deposited with cash 98 yuan, pay the banker a ticket, half a month later can receive cash 100 yuan, which is Chinas earliest sticker sticker initial interest rate of about 20%, later as high as 50%, 60%  1897, the third year after the end of the Sino-Japanese War, when the opium trafficking profitable, the market lack of silver opium traders will borrow from the money bank at high interest, the money bank Business has been booming, silver in short supply some money changers do not operate according to the conventional, the use of sticker approach, out of high interest to absorb social deposits, and then lend at high interest to businessmen many unscrupulous merchants take advantage of the opportunity to fish in troubled waters, opening fake money changers to absorb deposits, indiscriminately issued sticker, in fact, their money changers without funds, indiscriminate loans, its sticker expires and can not cash to pay the cash, and other money changers because of high interest to solicit deposits, can not Lasting, eventually leading to the collapse of dozens of money changers in a month  1910:   rubber stocks trend  early 20th century, with the development of the automobile industry in Europe and the United States, the international rubber market is very hot, rubber supply exceeds demand, international rubber prices rose sharply many people see that investment in rubber is beneficial, have set up rubber planting companies in the South Pacific at this time, Shanghai also appeared many Real and fake rubber companies, they are actively issuing shares in Shanghai, such as 1903, the British Mc side in Shanghai to set up a Langezhi topping company, said the company in the South Pacific to plant rubber trees, oil extraction, logging timber, making a lot of money to lure the Chinese to buy the companys shares the companys share price also went all the way up, 100 guilders (about 60 taels of Chinese silver) denomination of shares, the market price was raised to 1000 taels  Faced with the lure of high profits, a large number of people involved in the rubber stock drumming game, money changers, ticket houses also involved because the rubber price is ridiculously high, the United States and other countries ordered restrictions on the use of rubber, international rubber prices fell, the rubber stock bubble burst in July 1910, Zhengyuan, Zhaokang, Qian Yu three money changers closed down, triggering a wave of closures in the financial industry in Shanghai October 8, with the collapse of the Shanghai Yuan Feng Run silver and its branches in various cities and losses of public and private silver amounted to more than 20 million taels, the financial crisis quickly spread to the countrys major commercial ports, such as Ningbo, Fuzhou, Tianjin, Beijing, Wuhan, Beijing, Guangzhou around the market tight silver, a large number of money changers were implicated in bankruptcy and collapse, finally triggered the second wave of collapse wind  this wave and the Chuan-Han Railway The company shares were lost 3.5 million taels of silver after Sheng Xuanhuai served as the Minister of Posts and Telecommunications, demanded the nationalization of the railroad, refused to compensate the Chuanhan Railway was lost 3.5 million taels of silver road money, while the road money saved in the form of shares issued back to the shareholders of the Chuanhan Railway Company, which is undoubtedly a major blow to shareholders Ministry of Posts and Telecommunications both nationalized the railroad and took away the shares, the people of Sichuan vowed not to agree, set up a road protection The people of Sichuan vowed to disagree and set up the Road Protection Movement, the Sichuan chaos, the new army of Hubei transferred to Sichuan to suppress, Wuchang was empty, the Wuchang Uprising broke out, the Qing Empire collapsed Sun Yat-sen said: If there was no uprising of the Sichuan Road Protection Comrades Association, the Wuchang Revolution may be a year and a half late  1911:   the tide of money bank closures  October 10, 1911, the Wuchang Uprising broke out, the country The various places have responded to the political turmoil, the shortage of silver befriended officials, and the Qing governments close relationship with the Shanxi ticket house, deposits were withdrawn in large numbers, lending but can not be recovered, and then a serious payment crisis, 14 reputable ticket house in a few years all shut down and cleaned up  in the Xinhai years, a total of 42 money changers in Shanghai closed down, the Jin merchants, Hui merchants of the money changers, ticket houses also at this time out of history   nbsp; the former is not forgotten, the latter is the teacher of the above five financial disasters struck a number of dynamic, national capitalists interested in modern enterprises, in a long period of time, Chinas national industry has suffered repeated setbacks the occurrence of the above financial turmoil, revealing many problems, such as the Qing governments incompetence, the lack of supervision of the financial market, the lack of social credit mechanism, foreign capital greed and insidious, private The weak and naive financial organizations, the national peoples eagerness for quick profits and following the trend, etc.