In 2019, a middle-aged man went to a local bank to exchange a stock certificate with an ancient green pattern, and finally learned that it could only be exchanged for 17 yuan, 3 cents and 9 cents. Faced with such a result, he felt a little lost, so he consulted the staff in detail to understand the situation. The staff told him that the face value of the rural credit cooperative's stock certificate from decades ago was 6 yuan. Although the rural credit cooperatives have been restructured into rural commercial banks, the stock certificate is still valid. This exchange amount is determined according to the annual dividend distribution provisions of the stock certificates. Although this money may only be enough to pay for an ordinary meal today, half a century ago, its purchasing power was equivalent to five or six hundred yuan of domestic shoes today.
Although the legitimacy of the warrant was confirmed, he eventually decided to abandon the exchange as a historical memento because it was no longer worth much. Although this exchange did not go as he wished, it was a wish fulfilled by his uncle. His uncle invested 6 yuan in the rural credit cooperative, the original intention was to make it easier for farmers to obtain loans. In the mid-to-late last century, farmers relied mainly on agriculture for their livelihoods, and many people even struggled to solve the problem of food and clothing, so the cost of buying fertilizers and pesticides for growing crops became a major problem. They need loans, but banks don't offer microloans. In order to solve the problem of rural loans, credit cooperatives came into being. Credit unions were invested in a similar way to bank deposits today. What they all have in common is that they both have dividend interest, but the difference is that the calculation is very different.
The credit union dividends for the current year are based on the profitability of the current year and do not have a fixed percentage. Today's bank interest is based on the principal amount of the deposit, calculated at a fixed percentage, and settled directly into the account. After Zhang Fengjiang's uncle participated in the shares, the rural credit cooperative was restructured into a rural commercial bank. With the increase in participating shares, the shares in Zhang Fengjiang's hands have long been diluted. Zhang Fengjiang's care for his uncle can be said to be dedicated, because his uncle has never been married in his life, and his nephew Zhang Fengjiang is responsible for solving the daily life of his old age. Although the average worker may have earned only a few dozen yuan in the middle of the last century, it was enough to feed his family, and the cost of living at that time was very low, with a meal costing only a few cents. Despite the abundance of material life in contemporary society, even if the monthly income reaches 10,000 yuan, it may not be able to support the whole family.
In contrast, Uncle Zhang Fengjiang was willing to deposit six yuan back then, which was really rare. Perhaps my uncle thought that the longer the deposit, the higher the interest rate, so he never withdrew it until he almost forgot about it. In fact, there is little use for this deposit to withdraw, and it is better to treasure it as a witness to history. Some may wonder why $6 is now only worth $17However, from an algorithmic point of view, there is nothing wrong with this amount. The society is constantly moving forward, and the credit cooperatives have evolved into rural commercial banks. China's social wealth is accumulating, and the original capital invested in the first place has been diluted, and even if 600 yuan was invested as shares, it is no longer worth mentioning today. In fact, this gold certificate has also witnessed the historical process of China's transformation from weak to strong. Second, we can't sit idly by.
Zhang Fengjiang is similar to the experience of many investors, who have suffered losses by ignoring financial policies. They keep the money in the bank and ignore it. If Uncle Zhang Fengjiang had paid attention to the relevant information of the rural credit cooperatives, he would have been able to learn about the restructuring of the rural credit cooperatives in a timely manner, and withdraw the principal of six yuan in time to avoid losses. Half a century later, it is not easy for Zhang Fengjiang to find a bank willing to cash. After Zhang Fengjiang found the bank involved, the bank staff patiently calculated, although they were also a little helpless about this matter, but the stock certificate was legal and valid, so they had to exchange it. However, the $600 share price shrank to $17, which made people feel helpless. Whether in the past or present, investing in financial products needs to pay attention to the changes in the wealth management market. The market is changing rapidly, and money can be lost in the blink of an eye.
The reason why tellers at many financial institutions are good at words is precisely to persuade the elderly to invest in financial products. People with poor judgment can easily fall for it and then unknowingly put large sums of money into it. Such incidents are not uncommon, and it is best for the elderly to be accompanied by young people when applying for financial products. Of course, young people are not immune to it, and the easiest way to reduce the risk of being scammed is to check your account regularly. Financial market trends and policy changes are essential to successful financial management, which is a common trait of every successful financial manager. Many young people see financial investment as a shortcut to wealth, but it is not an easy task, nor is it easy. If young people want to get rich, they must learn to take measures to throttle and increase income according to their personal financial situation.
Of course, if you want to make financial investments, you must consult with professionals, have a deep understanding of the market and products, and do not be attracted by high returns and invest blindly. That's the hard-earned money you saved by frugality, and you must not act hastily, otherwise you will only pay a high price. In general, Uncle Zhang Fengjiang's experience of cashing in the stock gold certificate 62 years ago now seems quite bizarre and bizarre. If Uncle Zhang Fengjiang had paid a little attention to it at the beginning, maybe such a thing would not have happened. It is indeed strange that his uncle's behavior can be indifferent to store 6 yuan of shares for 62 years, which is really incredible. Of course, people like Uncle Zhang Fengjiang are in the minority after all, after all, few people would be so indifferent to money, especially in the last century. What happened to him can also be said to be a trick of fate.
Nowadays, people will fully understand the policy information before buying wealth management products from financial institutions to protect their assets. And today's financial institutions are so reliable and stable that they will not happen for decades. Time flies, society is developing rapidly, and the little money in the past may not be able to buy anything worthwhile now.