I Became Park Jeong-ui’s Nephew - Chapter 89



Only Krnovel

He became Park Jeong-ui’s nephew. – (89)

“This is the information you requested before.”

This is the White House in the United States,

President Kennedy reviewed the report that had just been submitted several times.

The Republican Party was able to remain in power for a long time because it had clear achievements. Just by blocking the expansion of communism and leading economic development, the Republican Party had sufficient reason to be the ruling party.

However, the Democratic Party, which prioritized military spending reductions, only benefited from the large external spending.

Even this victory was forced.

“The Democrats won because of the blacks.”

“Kennedy was not the president of the white people, but the representative of the black people.”

Republicans derided Kennedy as the “nigger president.”

In the United States, black people were allowed to participate in politics with the emancipation of slaves in 1865, and in 1870, the first black senator was elected from Mississippi.

But this is only a superficial achievement,

In five southern states, black political participation is still restricted.

In 1877, five Southern states passed laws restricting blacks’ voting rights, resulting in blacks not having a single seat in the House of Representatives from 1902 to 1928.

This is the point that the Democratic Party has focused on. If we can bring black people to our side, won’t we be able to win this election?

In fact, this was said within the Democratic Party.

“The support of the Negroes will guarantee the Democratic Party 200 years of power. We must focus on the Negroes.”

When a vice presidential candidate goes around saying things like that, you get a sense of what the Democratic Party thinks of black people.

The Democratic Party, which has never been interested in the human rights of black people,

But now that it has been proven that protecting black people is a ticket seller, we must guarantee their rights, whether we like it or not.

But will this strategy continue to work in the future?

The biggest problem in America today is not black people’s rights, but white people’s lives.

The United States, which implemented quantitative easing after the war,

In the past, ordinary people could not even dream of getting a loan from a bank, but with the U.S. government providing guarantees, ordinary people were able to get a loan to buy a house and make an investment.

So many people have risen to the middle class, but that alone hasn’t made white people richer.

Why did the Democratic Party put forward the slogan “Great Society”?

Why does the federal government provide food stamps to low-income families and welfare subsidies to low-income families with children?

That’s because there are so many poor white people.

It’s good that they won by buying the votes of black people, but if they can’t control white society, the Democratic Party’s rule won’t last long.

If the Democratic Party is to survive for the next 200 years, it needs groundbreaking policies that capture not only black but also white voters.

President Kennedy adopted the largest quantitative easing program in history.

“The US needs another round of quantitative easing. We will release an additional $1.4 billion in greenbacks to stimulate the economy.”

News of quantitative easing shook American society.

Greenbacks are currency issued by the U.S. Treasury, while dollars are currency printed by the Federal Reserve based on the gold standard system, but greenbacks are not like that.

The money that the US Treasury prints at will,

In fact, Lincoln printed greenbacks in large quantities to overcome the poor financial situation of the Union Army, and as a result, he was able to defeat the Confederacy.

The problem is that this greenback is the enemy of the capitalists.

Wouldn’t those who hold cash benefit if there is less currency in circulation?

In fact, America owed a lot to the Jews during the Revolutionary War and ended up handing over economic power to them.

Lincoln ignored this and printed money indiscriminately from the Treasury, which caused the resentment of the capitalists.

So there is also a conspiracy theory floating around that Lincoln was assassinated by Jews.

What is clear is that if the government were to ignore the central bank and print fiat money indiscriminately, chaos would ensue, but Kennedy ignored that.

“Greenbacks are money printed by the United States, the richest and most powerful country in the world. Its value is guaranteed by the U.S. government.”

If you think about it, it’s not wrong.

Who would say anything if the United States, which controls 37% of the world economy, prints money?

The problem is that we don’t know what the outcome will be, but for ordinary Americans, that’s just a worry for later.

Would inflation be important to people who are desperate for food to eat tomorrow?

The public was enthusiastic about President Kennedy’s quantitative easing policy, and even the white community, which had ridiculed Kennedy as a representative of black people, expressed support for Kennedy.

Who would reject a greenback approved by the US government?

The incident that re-established the authority of the U.S. government, which had been dragged around by the Federal Reserve, earned the Democratic Party support from the people, but it also earned the resentment of the capitalists.

The Republican Party must be having a hard time with this right now, too.

Who says we can’t stimulate the economy by printing money?

It’s just that they didn’t make it a campaign promise because they knew how much of a blow it would be to the capitalists and banks.

But if the Democratic Party actually did that, then the capitalists who led the American market will be in a terrible state.

Should we hand over the initiative to the government or should we come up with countermeasures?

Capitalists avoided the United States, which had adopted quantitative easing, and poured their money elsewhere.

***

‘Who will win? The US government or a private company?’

The same routine that repeats itself today,

I was nervous about the massive quantitative easing policy in the United States.

Since its founding, the United States has tried to prevent the concentration of financial power.

The U.S. government had so much debt from the Revolutionary War that they couldn’t even pay pensions to the soldiers who fought in the Revolutionary War, and this even led to a coup.

To solve this problem, the government must take control of the financial sector, but that has not been easy in the United States.

Would the United States, which is little more than a loose confederation of state governments, establish a central bank?

This meant that the government could control businessmen, which is why President Lincoln gave the Treasury the power to issue its own currency.

That’s the greenback,

But we all know the result.

With the assassination of President Lincoln, financial dominance once again passed into the hands of individual entrepreneurs, and in this way, the United States saw a constant battle between the government and corporations for financial dominance.

Then, the government seized the opportunity to overcome the First Great Depression in 1907.

How is the U.S. government going to print money and stimulate the economy without a central bank?

Because of the sense of crisis that the country could really collapse, everyone had no choice but to acknowledge the establishment of a central bank.

That’s the current Federal Reserve, but this Federal Reserve is ultimately just a private company.

Why do private banks get dividends every time the US government prints money? Because private banks own shares in the Fed.

Ultimately, the US is structured so that capitalists can profit by printing money at the Federal Reserve.

But President Kennedy announced that the Treasury would print money, which was a blatant declaration of war on businessmen.

“I can’t give you any dividends anymore.”

“These guys are just sitting there copying money? Hey, what do you do that you get a dividend every time the government prints money?”

Kennedy’s quantitative easing policy was good news for ordinary people, but a disaster for capitalists.

Will the capitalists just let Kennedy install himself like this?

In fact, Kennedy’s quantitative easing policy was not going to last long.

‘I think we’ve spent too much money. We need to raise taxes.’

Lincoln, who issued the greenback, also raised taxes without the people knowing.

Raising taxes slowly was done to avoid public backlash if too many taxes were imposed at once. In the end, Lincoln was playing the game of candy with the people.

Can the U.S. government continue to print money indefinitely to stimulate the economy?

Even if you print money, you will have to collect it at some point, and if you cannot control the timing, American society will suffer from hyperinflation.

Another variable to consider here is that the United States is a superpower, accounting for 37% of the world economy.

Who would say anything if the US printed money?

If the US goes bankrupt, everyone who has bought US bonds will have to jump off a cliff.

Korea is one of them. They bought a lot of US bonds, but the US is going to collapse due to inflation?

Then Korea will also become X.

So, going forward, Korea has two choices: sell all its bonds in preparation for the US collapse, or buy more bonds.

Which is Korea’s choice?

First of all, American capitalists are sending love calls to Korea.

“I told you, Kennedy, that guy is crazy!! Quantitative easing in this day and age is out of your mind!!”

“America will go bankrupt because of inflation!! Korea should not buy US bonds any more!!”

Are the capitalists really saying this because they are worried about Korea?

Or is Korea wary of pushing the US quantitative easing policy?

Korea currently has about $300 million in spare cash, which it can invest in U.S. Treasury bonds.

If that happens, the Kennedy administration’s quantitative easing policy will gain momentum, and Korea will naturally reap huge benefits.

But what if the Kennedy administration gets drunk on the success of quantitative easing and misses the opportunity to raise interest rates? That would be a bit dangerous.

A fairly gambling strategy,

So I threw a straight ball at the U.S. government.

“You can’t keep up the quantitative easing policy forever, right? When are you going to raise interest rates?”

“We plan to adjust interest rates while observing the inflation rate. The timing is expected to be approximately 2 to 3 years from now.”

“Then I will invest $200 million in U.S. Treasury bonds.”

“Is that true?”

“Yes, who would say anything if the US, which holds 37% of the world economy, prints money? The US national power itself is credibility. If they just raise interest rates on time, there will be no problem.”

The world economy is once again shaken by news that the South Korean government will invest $200 million in U.S. Treasury bonds.

If this happens, President Kennedy’s quantitative easing policy will gain momentum, and more than anything, the status of the U.S. Treasury, which was previously controlled by the Federal Reserve, will change.

The Democratic Party, which had previously regarded Korea as a puppet of the Republican Party, has shifted its policy to be pro-Korea.

It also canceled a plan to raise the price of food exported to South Korea by 20%.

This alone would generate a profit of $60 million per year for Korea, and investing $200 million in the US would not be a waste of money.

If the U.S. economy improves, the path for Korean exports will open up as well. The U.S. quantitative easing policy has also brought about a boom in the Korean economy.

Companies are busy printing products and selling them in the US.

Even though the Republican Party that had supported Korea has stepped down, the relationship between Korea and the United States has become closer than before.

President Kennedy’s approval rating soared from 50% to 65%, and it seemed strange that they were not holding a summit.

The Democratic Party proposes a summit to Korea,

President Kennedy also responded positively.

“Does this make sense?”

“Is this really possible?”

The Republican Party was shocked by this incident.

Who didn’t do quantitative easing because they couldn’t? They didn’t do it because they were worried about inflation, but the variable called Korea turned the American political landscape upside down.

Who would have imagined that just 15 years ago, Korea, which was surviving on aid from the United States, would invest $200 million in the United States?

In any case, through this incident, Korea once again demonstrated its global presence.