Chapter 1789 twistzone (eight)
Severus and Gonsai came to the "Dark Blue" room of the Richelieu Library.
Since the purpose of humans inventing tools is to save their own labor, is it possible for artificial intelligence to replace chess players and replace human judges in trial?
Take a good look at the "cashier" in the black robe. Does he look like a robot?
Modern trusts were established in the United Kingdom and later spread to the United States. However, the earliest birthplace of trusts was not the United Kingdom, but the Roman Augustus era more than 2,000 years ago.
Moreover, the purpose of this system at the beginning was because the emperors worried that women would destroy the priests and lure them into becoming deaconesses and donate their property to the church. So they established a law that only allowed women over 60 years old to become deaconesses, and at the same time Strict restrictions on the transfer of property to ensure that family interests will not be ignored.
However, this law was short-lived and was repealed in the same year it was promulgated. The priests severely criticized the emperors' restrictions on the church's acceptance of donations. Explicit prohibitions often provoke protests and contempt, and then there is a secret trust system.
There is a big difference between this secret trust and the classical trust. In other words, the trust after Augustus is middle-class and does not serve the original goal, but to protect the incapable.
Trusts require probate, which is a torture for everyone, while secret trusts omit this step, such as lovers, children born out of wedlock, or other hidden persons, and the person who made the will will leave the estate to A trustworthy client, this person is a trustworthy friend, and he will execute the proceeds of the non-disclosure trust.
For example, an old rich man, he has a tough wife of 120,000 points, and five or six sons and daughters who are like wolves and tigers. At the same time, he also has a weak lover who is more than twenty years younger than him, and the illegitimate child born to them. , He will find a trustworthy person to entrust part of his property to him, let him protect his lover and children, and prevent them from getting involved in the battle of family heritage. They may not have much property, but they can guarantee a life-free life for the middle class.
Even if it is born to a mother, the brothers and sisters will ask for a paternity test to ensure that everyone is the father's biological child. At that time, no one cares about the mother's feelings.
This is the advanced technology. In the past, detectives were invited to investigate. The story is even more bizarre than the family ethics drama broadcast on TV.
The Wizarding World also has a trust. The Malfoy family sends all the war orphans of the pure-blooded nobles who once followed Voldemort, but the money left by Voldemort is definitely not just the point that the Malfoy family runs. As for Harry's situation is special, even if the Potters have a lot of gold coins in Gringotts, no one can touch them.
There are also differences between the United Kingdom and the United States for open trusts in modern times.
After the American Revolutionary War ended, when choosing the system, the founding fathers did not choose British equity, but the Roman Law of Peoples.
Although some people say that equity is as erratic as the pace of the justices, the trust system is the greatest contribution of equity. In the Abandoned Wife Equity case, when the husband goes bankrupt and the creditor wants to take away the property, if the husband has already handled an irrevocable trust, then the creditor cannot take the husband's house and drive the wife out.
This is a characteristic of equitable ownership transfer. Even if the husband is bankrupt, the assets counted in the irrevocable trust already belong to others. The transfer relationship between the settlor and the settlor is similar to the common law, and the third party of the beneficiary Ren is not within the scope of common law protection and adjustment.
When the beneficiary feels that his rights have been violated, he can sue the trustee to the judge. This is an ordinary British trust.
The revocable trusts that have prevailed after 2000 were invented by **** Americans. Because there is no equity, their trusts cannot use the British model. The common law believes that trusts cannot be withdrawn, but both the federal and state in the United States have legislative powers. Before the promulgation of the Uniform Code of Trusts, the trust system was not under the jurisdiction of the federal but the state governments. Although the trust provisions of the states have common features, But it still belongs to the independent jurisdiction of each state, which formed a huge regulatory loophole, and even led to the "big shock" in 1907.
In 1906, there was a major earthquake in San Francisco. Wall Street bear Jesse Livermore made a lot of money by shorting the shares of Union Pacific Railroad. Beginning in 1902, the development momentum of American railroads and heavy industry has soared. A large amount of European capital has poured into the American market through short-term credit to make huge profits.
Even after the earthquake, people are still full of confidence in the recovery of the U.S. economy, especially the reconstruction of San Francisco requires a lot of funds. The huge market gave birth to a new financial institution-the trust and investment company, which enjoys many investment businesses that commercial banks cannot operate. Moreover, the funds are all privately placed, and there is an extremely lack of government supervision, which leads to trust companies to absorb social funds without restrictions.
Not only parents who want to buy protection for their children, but even the middle class with a little money from the private sector are also investing money in it.
The advantage of its own trust over depository banks is that it has higher returns. It will make investors more and more wealthy without worrying about the issue of principal. In theory, the trustee should treat the customer's money like his own.
In theory.
However, in 1906, about half of New York's bank loans were used as collateral by trust companies and invested in high-risk stories and bonds. The bubble itself was very big, and there was a natural disaster such as a major earthquake, and a large amount of cash was invested in it. In the reconstruction of San Francisco, even New York, the financial center, is in a hurry.
New York City's attempt to issue municipal bonds failed, and there was still no cash. At the same time, the cloud of war never disappeared. Nick Burke Trust and Investment Company, the third largest trust company in the United States, estimated that copper would appreciate in value, acquired United Copper Corporation.
At this time, people didn't know that the bank had no cash, and there were enough banknotes in the bank to handle normal counter business. Until the news of Nick Burke's acquisition of United Copper Company came out, the trust company was hit the next day. "Run", all depositors came to withdraw money.
The individual rich at that time were less than the Rothschild family who had just won Waterloo. The Bank of England was afraid of them three points. Banking business still surpassed personal business and was the main source of funds for trust companies. After the collapse of Nick Burke, the domino effect began. Banks developed a strong sense of distrust of the trust industry and demanded that the trust company repay immediately. Under the attack of both sides, the trust company had to borrow money from the stock market, and the interest even rushed to 150%.
This did not alleviate the panic, but aggravated the sense of mistrust. Panicked citizens lined up at the gates of various trust companies all night, waiting to withdraw their money. At this time, Jesse, the Wall Street bear, came to make another fortune. The New York Stock Exchange Almost closed.
In this crisis, more than 300 trust companies went bankrupt, many of them with good reputation. It was not until JP Morgan came out to rescue the market that the panic gradually subsided in 1908.
After the First World War, Morgan made bold rhetoric that it was not the law but money that was used to promote it, only money.
This kind of trust model with a strong commercial color will only become like this in the United States. This kind of business trust (businesstrust) can not only give customers a generous return, but also because the trustee can receive remuneration, making the trust more paid and increasing. Professionalization of trustees.
Is this good news? Of course not. Ponzi schemes also appear in the upper class under the cloak of trust. They are superstitious gossips and like to hear introductions. As long as a person introduces a liar into their circle, they will soon be accepted by them. Among them, what attracts them most is the high rate of return, and of course, they must have a decent appearance and a personality that makes them like them.
But if anyone is okay, ask them what is the difference between the trust fund pool of the Ponzi scheme. These party animals may not be able to figure it out for a long time.
American trust companies are "strictly regulated" by law, are qualified trustees, and "have never deceived."
For example, a liar with a high intelligence quotient controls a "robot". Whose responsibility is this?
Or another way of expression in human words, is the guilty natural person, legal person or agent?
The legal person may not know anything. If you register under his name, others will do whatever they want. If something goes wrong, he will be responsible.
The agent may not know anything. He is completely unaware that he is committing a crime. The internal model of the company is to use the money of the later client to distribute the money to the client who joined the meeting.
Whether it is a legal person, an agent or the master behind the scenes, it should be a natural person. This is also the subject of the crime. You can say that you were cheated by a trust company. Are all natural persons in the trust company a liar?
Someone must say that he is not. Even the scammer who pretended to be a trust company, after having a fund pool, tried to really manage money for profit and distribute the rewards to customers, so he invested the money in the real estate industry.
Speculation in the stock and bond markets, real estate will never be speculation. Real estate is the safest investment. This housewife knows that there is no loss of profit.
He takes the money to go to the Atomic Furnace Fund, and the risk is lower. At least the federal government is afraid that the money will be used up all at once and will save money, even if there is a loss, it will be recovered a little.
The center of a British trust is the beneficiary. When the trust expires, the trust company must allocate the principal and income to the investors. When the trust evolves and cannot be redeemed as scheduled or the redemption is difficult, the company has to deal with it. This is called rigid redemption, which is also a trust. The hidden rules of the industry are a means of attracting investors.
But if we encounter the situation in 1907, rigid redemption cannot be realized, and this will aggravate the moral hazard of the trust industry.
It's good to be able to redeem the principal, but still want interest? This is not impossible. Banks can have them. Many private banks received interest when Morgan rescued the market. Morgan also took the opportunity to acquire mining companies.
But there is no hope for retail investors. Finance does not actually create any wealth. It just carries wealth and concentrates the money in the hands of some people in the hands of other people. Jesse is also a poor boy, and he did not become a Wall Street bear.
Retail investors can't even get back their principal, let alone interest, and the so-called rich are just bigger fish in this crisis, but if they want to recover their losses, they can find Morgan's way, just like they did before. The money was handed over to another agent who caused them a heavy loss.
For this purpose, all the doors that were not opened to Morgan before have been opened, which is limited to North America, and this system does not work in Europe.
Those "castle owners" will also marry Americans. Only their daughters will marry. They will not marry their daughters and go to the United States. The heroine of the Titanic, Rose, whose father is dead, is only her and the widow mother. It was too ruined to marry a steel tycoon.
A considerable number of people have the concept of money that they cannot sustain their lives without money. Anna Gould, the daughter of the American railroad founder, married Bernie de Castellan, and they had a pretty good life. At least she was not scolded by a noble lady of the Montesquieu family, calling her an "ugly Yankee."
After the First World War, the French aristocracy expanded the goal of hunting dowry to the entire Americas. Throughout the 1920s, billionaires on Fifth Avenue in New York sent their daughters to Paris.
Popular people probably think this is a perfect combination of big powers and big capitalists. In fact, big names continue to express their dissatisfaction, especially when wealth takes precedence over their birthplace.
The wealthy families know best that the decline of the family business is easier than the rejuvenation of the family business, but they have never been as afraid of social status and being forgotten as they are now. They call wealth the elevator of social status. This recognition forces them to eat annuity from sitting. Transition to senior management.
Because of aristocratic traditions and ancient closures, noble ladies will only marry noble young masters. When the noble young masters marry wealthy daughters from the United States to hunt for dowry, these noble ladies begin to face embarrassment because of lack of suitable spouses.
Some people will lower the standard and marry cultural people like Susanna's mother. Others will remain single directly and engage in a profession they like. It is very likely that the midwife in a Paris hospital is a marquise.
Although the power of the nobles was not reflected in the law, their titles were restored because of Napoleon's accession to the throne. Of course, they were only titles. The nobles of the old age did not perform military service. This was their privilege, and other privileges derived from it, and now they too It is developing towards the military.
When Susanna had passed the marriageable age, improper marriages and improper households became popular in the circle of young people. Their circle even jumped out of big capitalists and cultural people, which made them have to reduce the ostentation of their lives and reintegrate. Their wealth, such as the sale of castles that are extremely expensive to repair.
The daughters of the big bourgeoisie can be scolded like that, and “working-class” girls don't expect to hear good things. They value their wives' abilities more than beauty, whether they can help them complete their family's revitalization, such as entering the Pantheon.
In addition to being a member of the Napoleon Foundation, Susanna is also a member of the Noble Association. The purpose of this association is to unify the maintenance of the traditional moral standards of the aristocracy and the success of the business world.
There was a Wall Street Commercial Trust investor named Madoff who wanted to expand his business in Europe. He hired a few young aristocrats as partners, hoping to recruit customers through extensive interpersonal relationships, just like the United States.
Who are he looking for?
I don't trust this "wizard in the financial world" Susanna, she still believes in the "ancestral" foundation.
No matter what the Bonapartists split into, or there are people who are loyal to Napoleon, they will properly handle the wealth left by Napoleon. Of course, it is also possible that they are still thinking about the wealth Napoleon looted from Moscow.
In fact, the ministers of Tuogu who were appointed by the king on his deathbed, and the gravekeepers who guarded the tombs of the pharaohs and nobles belonged to trusts. The revocable commissions in the United States are called baretrusts. Such commissions are in the United Kingdom. The nobility circle is deemed to have not established a trust.
As for the supervision of "American trusts", it is called dual federal and state supervision. In fact, some people are taking advantage of the loopholes and how to turn their clients into trustees. Some people even published a book called "How to Avoid Verification". After 2.5 million copies were printed, the writer went to Ireland.
He did not break the law, nor was he a high-ranking official or executive who accepted bribes. The American police could not arrest him. The tax authorities had to sue him in the name of tax evasion.
The elders have to leave their last words to the trust company in order to prevent their children from squandering. Although the return given by the trust is not low, it is only given a little at a time and cannot be squandered at will. It feels like being controlled by others. It's actually very bad.
It's not wonderful to fall from the clouds. There are benefits in the United States, but the benefits at the bottom are already low. There is also a system of misdemeanors and a “genius” judge who asked you why you didn't go out to work? I also asked why you want your girlfriend to eat and drink.
This is the reason why “nobles” don't fight with ordinary people. The friendship in school days is relatively pure. Even if you don't find someone to partner and start a company, it's good to find someone you can trust to manage your finances.
Sentimental and righteous people are hard to find. Napoleon was right at the beginning, but later he became the same as those poor boys who had abandoned their original partners after they were so prosperous.
Other civilians may not need to give birth to a son to inherit the throne. He does have this need. To say that he is completely cold-blooded and ruthless, after all, it was Josephine who caused trouble when he went out to fight.
When we were young, we watched fairy tales and always laughed at the king.
After the Cairo riots, Bonaparte issued a notice in which there was a sentence that said: Those who are enemies of me will have no place to live or after death.
Even fifty years after his death, the French aristocrats who liked archeology came to Egypt, the locals still admired him very much. People call him Kebir Sultan, which means Sultan of Fire.
I am afraid that daydreaming is not so incredible.
Madoff Trust Company, um...you deserve it ╮( ̄▽ ̄)╭
(End of this chapter)
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