1.0Fortune Insighthttps://prime.fortuneinsight.com/web曾國平教授https://prime.fortuneinsight.com/web/posts/author/byrontkprich600338<blockquote class="wp-embedded-content"><a href="https://prime.fortuneinsight.com/web/posts/489205">亞當史密對付銀行危機</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- !function(c,d){"use strict";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),n=d.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),o=0;o<n.length;o++)n[o].style.display="none";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if("link"===t.message)if(a=d.createElement("a"),i=d.createElement("a"),a.href=r.getAttribute("src"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener("message",c.wp.receiveEmbedMessage,!1),d.addEventListener("DOMContentLoaded",t,!1),c.addEventListener("load",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf("MSIE 10"),a=!!navigator.userAgent.match(/Trident.*rv:11\./),i=d.querySelectorAll("iframe.wp-embedded-content"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute("data-secret"))t=Math.random().toString(36).substr(2,10),e.src+="#?secret="+t,e.setAttribute("data-secret",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute("security"),e.parentNode.replaceChild(t,e)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://prime.fortuneinsight.com/web/posts/489205/embed" width="600" height="338" title="“亞當史密對付銀行危機” — Fortune Insight" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>https://prime.fortuneinsight.com/web/wp-content/uploads/2020/09/Presentation1-2.jpg535477講完銀行的正常運作，亞當史密就提到當時一些旁門左道的借錢方法。若果你手頭上冇bills，銀行又唔肯透過cash accounts借多啲錢俾你，咁樣點算好呢？當時有一種好流行既「財技」，叫做drawing and redrawing，可以利用銀行去無中生有借錢。 最簡單的做法，係我同你夾埋，想借錢果個係我，我就叫你老作一張bill of exchange，話你爭我錢，兩個月之後還，然後我就拎呢張紙去銀行discount換錢，就當我換到100鎊啦。 兩個月之後，銀行就會拎張紙去問你收數，點算好呢？我就會係到期之前，寫另一張面額更大既bill of exchange俾你，又係兩個月，然後你就去另一間銀行discount換錢，用黎去填第一筆數。 又到兩個月之後，果間銀行又會問我追數，咁我又叫你寫張更大面額既bill of exchange俾我，等我又再去另一間銀行discount換錢，再去填數。 如此來來回回，亞當史密話佢聽過可以拖成幾年。大家心水清的話，會留意到成件事其實只係我透過銀行體系借左100鎊，其他野都係幻覺黎，之不過經過咁多重的交易，利息加上手續貴，我果100鎊好快就會滾到好大筆，最後好彩的話就當然係我還到錢，但若果我還唔到就要走佬架喇。呢種高危既借錢方法又叫做raising money by circulation。 當然啦，兩個人咁玩法就簡單者，若果個十幾廿人咁樣借來借去，果個關係可以非常複雜，引發連環爆炸既機會亦更高，成個金融危機咁架喇。 另一個大問題係，銀行其實係牽涉其中，手頭上揸住好多呢啲其實背後乜都冇的bills of exchange，隨時變廢紙。最慘的係銀行好難查到呢啲bills係堅定流，所謂的real bills doctrine只係原則，實際做起上黎唔係容易。最搞笑係，佢話就算銀行知道有古惑，可能都唔想件事完，因為搞到咁多人破產分分鐘燒埋自己： When a banker had even made this discovery, he might sometimes make it too late, and might find that he had already discounted the bills of those projectors to so great an […]