My father is Jiajing

Chapter 397 One-vote veto power
Naturally, the concept and structure of the Federal Reserve were not something Zhu Zaigui imagined out of thin air.

After all, the knowledge and insights in the field of finance were also some of the knowledge of the time that Zhu Zaigui had known before he traveled through time.

Moreover, with the insights and experience that Zhu Zaigui gained from being in a high position for so many years, he has a new understanding of the concept of "Federal Reserve".

That’s why we have this meeting today.

Zhu Zaigui actually wanted to use his current status and power, as well as the strength and resources he currently possessed, to carry out financial design and reform that was in line with the national conditions of the Ming Dynasty.

Zhu Zaigui knew very well that interests were the basis of all cooperation. Even if the imperial power wanted to maintain long-term rule and stability, it had to cooperate with the people of the world for the sake of interests.

Otherwise, even the supreme imperial power cannot always remain high above others, making people dare not look up and peek.

Therefore, when Zhu Zaigui was designing the Fed, he had to plan the core interest issues and make everyone feel that this was a win-win cooperation, and then this matter would naturally come to fruition.

Zhu Zaigui said: "This is what I imagine the Federal Reserve to be like."

"First of all, there will be fifteen board seats in the Union. These fifteen board seats correspond to the two capitals and thirteen provinces of the Ming Dynasty. Everyone can understand that each board seat is a share of the owner. Therefore, since the Union is to be established, all participants will naturally be able to obtain the corresponding right of suggestion and voting."

"Otherwise, how can we protect our common interests?"

As soon as Zhu Zaigui said this, everyone nodded in agreement.

The problem that Prince Yu mentioned is indeed true. If the interests of each family cannot be guaranteed, then the Federal Reserve will definitely not be established. Even if it is established by force, by then everyone will be in name only, making things worse.

Therefore, when Zhu Zaigui made this suggestion that could guarantee all interests, naturally no one would object.

Moreover, fifteen board seats are more than enough for everyone present. Everyone has a share, so who would refuse at this time?
After all, if there is such a big tree to rely on, small silver banks and money houses will naturally not have to worry about being swallowed up by large silver banks and money houses.

Therefore, at this moment, everyone's meaning was very clear. They replied to Zhu Zaigui: "Your Majesty's words are extremely wise. I have no objection."

Gao Gong and Zhang Juzheng also looked at Zhu Zaigui. They never dreamed that Zhu Zaigui would suddenly give up fifteen seats to everyone present.

You have to know that this is the home court of Beijing Special Economic Zone Development Bank, so there will be no problem even if it is stronger.

However, Zhu Zaigui did not choose to be strong, but chose to delegate power, which made Gao Gong and Zhang Juzheng very confused.

In fact, it is easy to understand that they don’t understand.

After all, as professional bureaucrats, even if their thinking is more agile and responsible than that of ordinary officials, they cannot escape the centralized management model. Of course, this model is not bad, but because this model is fine when it is strong, once it encounters risks, it will become extremely fragile, and even the fault tolerance is very low, it is easy to collapse at the touch of a button.

There is also this centralized and upward management model. It is fine if nothing goes wrong, but once something goes wrong, there is not even a buffer space to prevent it, and you will just rush into a dead end with no way out.

Therefore, Zhu Zaigui must be extremely cautious when it comes to finance, a new concept that requires caution and is related to the future destiny of the Ming Dynasty. He cannot pin his hopes on any so-called strongman.

Because history has repeatedly proved that behind every so-called strong man, there is inevitably a fragmented "prosperous age", and everyone either lives in mediocrity or lives in numbness, and has no so-called expectations for the future at all.

If they have to say what they expect, then their only expectation is that the strong man dies soon!
Give the world a chance to innovate.

But things may not necessarily get better after the reform. It may just be a psychological placebo with a different name but the same substance.

Therefore, Zhu Zaigui had to put a bridle on the beast of finance to control it, so that it could be relatively stable and not become like a crazy monster, tearing the world apart beyond recognition!
Zhu Zaiqi continued, "The arrangement of the seats on the board of directors of the 15th Federal Reserve must not allow one person to dominate, otherwise the other directors will be like the followers of others, right?"

"Therefore, this king suggests that a Federal Reserve Chairman position be established above these fifteen Federal Reserve seats to be responsible for the specific management and administrative affairs of the Federal Reserve. Of course, this Federal Reserve Chairman cannot continue to serve forever. He will have a three-year term and must be replaced after three years."

"And the new Fed chairman cannot be someone from the original board of directors. Another board of directors is needed. The candidate for the Fed chairman must be jointly recommended by three or more boards to participate in the competition for the Fed chairmanship. Otherwise, he or she will not be eligible to participate."

"In this way, there will be at most five candidates for the Fed chairmanship for everyone to choose from each term, which can ensure that every family has the opportunity to nominate someone to serve as the Fed chairman, thus protecting the interests of all families."

"So how about this suggestion?"

As soon as Zhu Zaigui finished speaking, everyone began to think deeply. They were all silently calculating their own interests. After thinking for a while, they also felt that there was no problem with Zhu Zaigui's proposal, so they all replied: "We have no objection."

Zhu Zaigui smiled and said, "Very good. This shows that all of you shopkeepers are smart people. You can immediately understand the advantages and fairness of the Federal Reserve. This will reduce the obstacles for us to jointly establish the Federal Reserve. Therefore, I would like to thank you all here."

Everyone was frightened by Zhu Zaigui's thanks and quickly stood up, "We dare not!"

Zhu Zaiqi laughed and said, "No need to be afraid. Today I am here to discuss business. Everyone just relax a little."

After saying this lighthearted remark, Zhu Zaigui continued, "By the way, as the initiator of the Federal Reserve, I also have a crucial rule to explain, and you shopkeepers may also consider it carefully."

Everyone replied, "Your Majesty, please speak."

Zhu Zaigui said: "As the initiator of the federation, I, the Beijing Special District Development Bank, will have a veto power! Of course, this power will never be abused. Only when everyone is hesitant or it concerns the fundamental interests of the Ming Dynasty, will I or the Beijing Special District Development Bank use this power! Do you have any objections to this?"

(End of this chapter)