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Volume 2/Expedition to the Girls Chapter 65/Secrets of Currency

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    At Adheer's own insistence, the joyful teacher game officially began soon.  Of course, during this period, Yiwen Ian did not play any extremely shameful teaching games with the dragon girl, nor did he "after school" after school, but honestly taught Adishiel a month of lessons.  To be honest, Yi Wenyan is not a good teacher, and he doesn¡¯t have much teaching experience at all. Apart from letting Adishiel read books, he usually talks about whatever comes to his mind.  However, Yiwen Ian was a little perfunctory, but he couldn't stand it. Adishiel was a good student who was loved by everyone. His preview and review skills were very solid. In addition, Yiwen Ian gave very vivid explanations of lesson examples in class.  Progress is very rapid.  Now, after a month of teaching by Yiwen Ian, she can already understand most of the terms and nouns in Yiwen Ian's mouth, and she can also raise some of her own understandings and questions.  And when asked by Yi Wenyan why he was so adaptable to this kind of casual teaching, Adishiel seemed a little surprised - "When I was in the palace, the masters also taught like this?" Reaction  When Yi Wenyan came over, he had the urge to cover his face - He actually forgot that before he founded the school, there was no concept of standardized teaching in this world.  Even for Her Royal Highness, the Princess of the Nanling Royal Family, apart from being a better teacher, when receiving education, there is no concept of being systematic or not at all.  And on this sunny day (Tuesday) morning, the work-study teaching in the Duke's Palace is still continuing.  Because Adishiel has almost understood all kinds of unfamiliar imperial vocabulary in the documents, plus she has the foundation of thirty years of Nanling palace education, so in recent times, Yiwen Ian has let go of ordinary documents.  Let her deal with it.  It was both a test and a training, and the results made him very satisfied. ? , ? In the newly renovated study room, Adishiel sat behind the desk and corrected documents.  The tip of her pen paused for a moment on the decree against illegal minting of copper coins in front of her. Then she suddenly raised her head, pushed up the new glasses on the bridge of her nose, and looked at Yiwen Ian.  "Master Yiwenyan." Adheer once planned to call her de facto teacher Yiwenyan "teacher", but at Yiwenyan's insistence, she still used the term commonly used by secretaries/lord assistants.  "Master", "You told me about the issue of seigniorage before, but I'm still a little unclear How did this decree become the most basic step in the industrialization process of Rose County?" "Hmm  " Yi Wenyan was leaning on the thick back of the chair, behind the girl, watching her processing documents through her snow-white neck.  But now that she asked him this question, he couldn't help but straighten up, "SeigniorageActually, this is just the first step in the operation of the entire economy. Adishiel, you still remember the seigniorage - that is, the seigniorage spread."  "Definition?" Adishiel just recalled it briefly and answered fluently: "Seigniorage refers to the profit or income obtained by the currency issuer in the process of minting and issuing currency, which often refers to the content of currency.  The difference between the actual value of the precious metal and the face value of the currency can also be called the coinage spread. " "For example, the actual value of the highly pure silver of the Imperial Silver Coin is usually around 10 grams of pure magic silver, while the actual weight of the Imperial Silver Coin is 9.  Gram, and the price difference of more than 1 gram is not only the processing value, but also the privilege of seigniorage owned by the royal family." "That's right," Yi Wenyan nodded, "You can say that in the empire.  , the seigniorage tax is a privilege exclusive to the emperor. Any act of privately minting coins will be punished by death if found out. In fact, because of the magic marks imposed on silver and gold coins, except for a small number of mages, ordinary nobles  They have no ability to cast at all, and as a mage, the profit from casually processing some magic items is far more than the sweetness brought to them by the spread of coinage." In fact, Yi Wen's explanation was somewhat omitted.  If you include the material consumption caused by the failure to create magic props, not all mages will be indifferent to the benefits of casting currency.  And if you use truth alchemy, you can directly convert other common substances such as iron and earth into heavy metals such as silver and gold. The high profit gap is enough to make ordinary alchemists take risks.  However, the high radioactivity inherent in the Alchemy of Truth metal will be found in any larger store in the empire. Alchemy silver with strong radioactivity, ore silver refined from raw ores, and high-purity magic refined using magic  The price of silver is also almost astonishingly different.  The former is an alchemical/industrial metal with strictly limited conditions of use, while the latter two are metallic silver that the empire uses and comes into contact with daily.  So to sum up, it is also in empires with relatively backward industries that the kind of private society that existed in medieval Europe in Yiwen Ian's previous life did not appear.A situation in which coins are popular and bad coins drive out good coins.  "However, due to the Nanling Mountains between Nanling and the Empire, the tentacles of the Imperial Mint are firmly blocked to the north of the Nanling Basin. It is impossible for all the billions of silver coin gaps in the entire Nanling to pass through the air  We were flown to Nanling by boat. So the emperor gave our Silver Rose family the right to mint silver coins. However, because they were worried that our Silver Rose family would secretly increase the minting amount and disrupt the circulation market of the entire empire's silver coins, the royal family only allowed us the Silver Rose family.  The family mints black silver coins with a low silver content - and this is the origin of the Nanling black silver coins. Adishiel, you must be very aware of it. " "But because of the war, the coinage of the Silver Rose family has been in a state of flux.  There is a very serious problem - unable to make ends meet, and the more money is made, the more money is lost. "Before Ivan, Fernandan did not understand economics at all, and he had a coinage bonus that made countless nobles who knew business jealous.  Instead, he circled himself deeper and deeper. When he thought of this, Yi Wenyan couldn't help but want to sigh. His father failed to live up to expectations. As a son, he couldn't scold him.  The exchange ratio is 1:3, that is to say, one imperial silver coin has the silver content of three black silver coins. However, later, with the outbreak of the war with your Nanling Zionists, and after falling into the war, the Nanling black silver coins were used by some thoughtful people.  Under the pressure of the emperor, the value continued to depreciate, and finally reached an astonishingly low price of 5:1 imperial silver coins. What is this concept? "Adishiel, you can do the math yourself." "Well" Ai has been listening quietly.  Dashiere couldn't help but ponder for a moment: "A 9-gram pure silver imperial silver coin is equivalent to 10 grams of silver metal, while a black silver coin contains 3 grams of pure silver, but only has a market value of 2 grams of silver. In other words,  , every time the Silver Rose family mints a black silver coin, does it lose nearly 1 gram of pure silver?¡± Yi Wenyan spread his hands, but he revealed a secret of the Duke¡¯s Palace that almost no one outside the world knew: ¡°So.  Nine years ago, I rose to power so quickly that I killed all of my dad¡¯s financial advisors in one fell swoop, and even got my dad¡¯s approval.¡± At that time, almost everyone was concerned about Fernanden¡¯s series of murders.  Old minister, I was confused and couldn't understand the action of helping the youngest son to ascend to the throne, but I didn't expect that it had such a connotation.  "That group of rubbish, whether they were unaware or deliberately misleading, should be damned anyway." Yi Wenyan's evaluation of the dead consuls was ruthless, because these guys Nanling lost an average of ten dollars every year.  Tens of thousands of silver coins. If Fernandan hadn't been so good at the military, I don't know how the Silver Rose family could have persisted until he came back.  "So after I took over the management of the coinage and the commercial management of the territory, now that I realized there was such a mystery, I started planning this money trap plan." Yi Wenyan said lightly.  "Have you only talked to the emperor of the empire before?" Adishiel was quite impressed by the several big moves made by the Silver Rose Family.  Because any dangerous move by the Silver Rose Family will cause panic in Xinlongge City.  "Actually, His Majesty the Emperor didn't know exactly what I was going to do at that time." Yi Wenyan spread his hands and smiled, "The identity of the Emperor's nephew is still very useful. At that time, my father said that he would entrust the coinage rights to me.  Give it to me, His Majesty the Emperor, seeing that I am a child, agreed without thinking too much. " "Then, you will use um 'sheep-shearing' method to separate the nobles of Nanling from the empire.  Have the speculators been fooled?" Adishiel recalled the records she had read in the book of Huaqi Bank President Middle.  "It's a very simple method, isn't it?" Yi Wenyan's tone was a little joyful, and the pleasure of fighting back still remains in his mind, "The methods of these vampire nobles and speculators are just like that.  : Buy high, buy low, sell us high-priced silver bullion in exchange for imperial silver coins; then wait until a new round of depreciation of black silver coins begins, and then use imperial silver coins to buy cheap black silver coins to keep the circulating silver coins in Nanling deflationary  , entering a state of being unable to make ends meet, in order to drive up the cost of agricultural and commercial operations in the entire Nanling; finally, after the deflation in Nanling further deflated, the black silver coins in hand were used to speculate on the silver market in Nanling, keeping the silver price high.  We, the Silver Rose Family, are forced to obtain the mineral silver from them, the Empire, and repeat the cycle from the beginning. ¡°If this continues, the entire South Ridge will be sucked dry by these bastards.¡±  The words inspired Adheer's imagination. The reason why currency circulates in the market instead of barter is because the convenience of currency can greatly reduce transaction costs, and the lack of currency in the market will only make transactions more difficult.  The transaction and circulation costs of goods increased rapidly, causing the entire Nanling Farmers' Market to be destroyed due to the loss of liquidity.  In this way, it gradually degenerated into a self-sufficient small-scale peasant society, which had an unimaginable impact on Nanling.  She couldn¡¯t help but shudder. Such a Nanling was almost like facing Nanling.The perverse behavior of the entire civilization.  After thinking about it, Adishiel couldn't help but feel deeply grateful - fortunately, Yi Wenyan gave these blood-sucking insects a hard slap in the face.  "So when I once again spread the word in the market and planned to establish a new financing channel through the establishment of Citibank, these blood-sucking insects who had already sucked their belly were simply overjoyed - you know, precious metals  The inflation rate is limited. According to their previous arrangement, they only earn about 10% of gross profit on the top day. Citibank directly gives them 8% of net profit, plus they return and use the 108% of principal and interest to absorb it.  The profit that can be obtained from Nanling's financing currency is at least 20% (Note) "Note: including the profit that can be obtained after the further depreciation of Nanling's silver coins.  "But there is one risk that a very small number of them will be aware of." Ian raised a finger, "Two years, this is the minimum exchange restriction time given by Citibank. Their  The principal and interest cannot be obtained immediately, and if something happens in the meantime, they will be unable to deal with it. This is what worries these people the most compared to their original model. "
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