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Renminbi
[Epoch Times December 23, 2021](Epoch Times reporter Li Jing comprehensive report) After Chen Yaoming, the former deputy general manager of China Banknote Printing and Minting Corporation, was investigated, it was recently reported that Chen Yaoming had privately printed 2 trillion yuan (RMB, Same below) The “same number banknote” is related, and the relevant news originated from a report by Lu Media 19 years ago. The Central Bank of the Communist Party of China urgently refuted the rumors, which aroused public attention. Senior banker Wu Mingde said that repeated printing of money is more terrible than printing counterfeit banknotes, and double “real banknotes” will impact the financial system.
The official website of the Central Bank of the Communist Party of China issued a notice on December 22, stating that Chen Yaoming of China Banknote Printing and Minting Corporation (hereinafter referred to as “Banknote Printing and Minting Corporation”) has been circulated on the Internet for serious violations of laws and disciplines and voluntarily surrendered. “2 trillion”, the central bank called this a “rumor” and has reported the case to the police.
Online news can be traced back to 2002
On the evening of the 21st, “China Banknote Printing and Minting Corporation Chen Yaoming privately printed 2 trillion banknotes of the same number” once topped the hot search list.
According to a report by China Business News, the news began on December 21 and was spread and fermented on multiple social platforms. According to the news, some depositors had previously carried the same denomination and same number of RMB to several commercial banks for appraisal, and the results were “authentic.”
“Epoch Times” found that the above-mentioned news about the renumbering of RMB came from a report entitled “The two banknotes have the same serial number but are “genuine”” published on May 10, 2002 by the “Sanqin Metropolis Daily”.
According to this report, as early as 19 years ago, the “genuine currency” renamed renminbi was flowed from the Bank of China.
“Sanqin Metropolis Daily” reported that “On May 8, a lady surnamed Wen held the same denomination and the same number of RMB to let reporters “see”, which was really surprising. Both of these RMB are the 1990 edition, with a face value of 100 yuan, and the serial number is YA80829168. “
The RMB with the same number is not a counterfeit banknote
The report also stated that, according to Ms. Wen, the two renminbi were withdrawn from the Industrial and Commercial Bank of China’s Hanzhong branch not long ago. After she accidentally discovered that the two renminbi were the same number, she went to several commercial banks for identification. All of them are “authentic coins”.
After reading the banknotes, some reporters immediately consulted the Issuance Section of the People’s Bank of China Hanzhong Sub-branch. The staff of the section first stated that there was absolutely no such situation, and they may be counterfeit banknotes. After their re-identification, they also confirmed that these two are “authentic and genuine.” “. They think the matter is not trivial and report to the head office to wait for instructions.
In addition, the “Chutian Metropolis Daily” also published a report entitled “Two hundred yuan renminbi of the same number in the collection of the citizens are authenticated to be genuine” on December 29, 2010. The report mentioned that a man from Tianmen Jianghu Farm displayed two real 100 yuan banknotes with the same number, and the two 1990 version of the 100 yuan yuan had exactly the same serial number.
According to the report, after a field visit by reporters, both banknotes were identified as genuine banknotes by the Agricultural Bank of China. The interviewed man said that this was not the first case of money with the same number he had discovered. There were still many banknotes with the same number before.
Some netizens expressed doubts about the “private printing” argument, thinking that “it is impossible to privately print such a huge amount of currency.” Some netizens also pointed out that “domestic corruption is a concealed case. For some families, pay attention to the fact that the family is not an individual. Combining the connections and financial resources of several large families, there will be 2 trillion real banknotes. This is in China and it is not impossible.”
Some netizens believe that Chen Yaoming’s fall or the CCP’s elder stalker, does Chen Yaoming have anything to do with the privately printed 2 trillion yuan banknote of the same number transmitted on the Internet? Can the party media’s refutation of rumors be believed?
Chen Yaoming has worked in a banknote printing company for nearly 40 years
According to public information, Chen Yaoming, 57, has been working in China Banknote Printing and Minting Corporation since August 1984, as a member of the anti-counterfeiting printing company’s preparatory team, and deputy director of Shanghai Banknote Printing Factory. In August 2001, Chen Yaoming served as a member of the party committee and deputy general manager of China Banknote Printing and Minting Corporation;
From January 2021, he has served as a member of the Party Committee and Director of China Banknote Printing and Minting Corporation.
China Banknote Printing and Minting Corporation is a national legal tender printing agency directly under the Central Bank of the Communist Party of China.
It is worth mentioning that many people in the company have been investigated in the past two years, including He Lin, who served as the deputy secretary of the party committee and general manager of China Banknote Printing Corporation for 10 years.
Expert: I am most worried about printing two sets of banknotes
Hong Kong senior banker Wu Mingde speculated in an interview with Hong Kong’s “Epoch Times” program “True Words” on December 16 that in the past two or three months, the Central Commission for Discipline Inspection has been stationed in the central bank, major financial institutions, and banks to conduct inspections because It was impossible to cover up, but Chen Yaoming’s opponent offered him out.
“The most worrying thing now is that he printed two sets (real RMB banknotes).” He further explained with an example, “For example, I printed 1 trillion, the number from 10,000 to 10,000, and then the same machine next to it printed 1 Up to 10,000, these numbers will not be repeated in the market if they are only used in different regions.”
Wu Mingde pointed out that this is the most feared situation among the people. Due to the currency multiplier effect, the supply of money circulating in the market will double. “These reprinted RMB is the same as the golden vouchers back then? But the Kuomintang kept printing back then, telling you how many golden vouchers were printed and did not deceive. But the current situation is deceptive, a bit secretive.”
The golden dollar coupon is a currency issued by the government of the Republic of China in 1948. In 1949, the value of gold round coupons depreciated rapidly, and gold round coupons with a denomination of 1 million yuan appeared on the market, causing vicious inflation of the Chinese economy.
Wu Mingde continued to analyze, “At this point, the most feared is that the financial credit system is distrusted by others. At worst, we will return to the era of the KMT’s golden coupons.”
He said, “This is what Xi Jinping fears most. He wants stability, and the financial system does not require any aggressiveness. The more stable the better. This is a direct challenge to the stability of the financial system.”
Printing the currencies of other countries with professional knowledge is the most terrible
Regarding whether it will mess up the world order, Wu Mingde pointed out that the renminbi is not a hard currency in the world, so there is no problem, but if someone uses the country’s money printing technology, professional team and knowledge to print other countries’ currencies, it will be terrible. ◇
Editor in charge: Yu Man
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