foreign exchange and gold

over a period of time, China's interbank market frequent "money" problem, not only will inhibit investment and consumption growth, led to a significant decline in the cheap nfl jerseys real economy in full production surplus and economic growth, but also increase the systematic risk of the virtual economy, leading to sharp fluctuations in asset prices, therefore, the monetary authorities should take measures to avoid the "occurrence of money shortage".

interbank market funds face supply and demand analysis of

called "money" does not refer to the real economy, the shortage of money (enterprise and individual all cannot borrow money), it means the interbank market the shortage of money, i.e. the interbank market the interbank lending dried up phenomenon. For reasons explored the interbank market is the shortage of money, it is necessary to carry on the brief analysis on the relationship between supply and demand in the interbank market funds.

(a) the existence of liquidity

two level in the economyThe fluidity of

the first level refers to all the base currency (the central bank deposit cheapjerseys.us and cash flow). It is mainly in the interbank market circulation, the main participants are eligible for trading in a deposit account at the central bank (reserve account) financial institutions, enterprises and residents in general can not participate in the. Liquidity refers to the second aspects of broad money M2 (commercial bank deposits and cash flow). It mainly circulation in the real economy, participants in the transaction is mainly the government, enterprises and residents of non silver. Intersection of liquidity in the above two levels is "cash in circulation": cash can be transformed into the central bank in the inter-bank market circulation, and the central bank deposit can be converted to cash flow in the real economy. Under normal circumstances, the scale of the inter-bank market liquidity level determines the mobility scale economy level; and the mobility scale economic entity level decide the price of cheap mlb jerseys all goods.

(two) the monetary base and its distribution channels

The issuance of

base currency refers to the central bank's monetary, it consists of two parts: the central bank deposit and cash. The central bank issued currency channels mainly include: (1) foreign exchange and gold: the central bank foreign exchange funds from individuals and businesses to buy or gold, set the basic currency; (2) the open market operation: the cheap jerseys central bank through the open market operations, in two levels of markets to buy treasury bonds (Huo Yang ticket redemption expiration, the monetary base (released); 3) and loans (including discount): the central bank issued loans to financial institutions, set the basic currency; (4): the central bank through quantitative easing in two levels of markets to buy non Treasury financial assets (corporate bonds, asset securitization products), set the basic currency; (5) currency swap agreement: according to the agreement to carry out bilateral currency swap, mutual open settlement accounts in other banks, peer to peer into the other capital. There are two main channels for nearly 10 years of China's monetary base issue: one is the foreign cheap nba jerseys exchange is open market operations; two.

(three

) forms of the monetary baseThe monetary base

central bank after entering the market, and ultimately exists mainly in four forms: (1) cash form: including cash in circulation and bank financial institutions in cash; (2) the deposit reserve form: Bank gold >