The Fourth Lingshi Financial Crisis

Chapter 238 History of Comprehension Financial Development

However, in the world of Kyushu, because of Lu Yang's sudden birth, the history of financial development in the whole world of cultivation was completely chaotic. This is why Yang Lu felt a great sense of disobedience when he first traveled to the world of Kyushu.

When the third Lingshi financial crisis broke out, the comprehension world urgently needed a new type of credit currency with stable currency value to replace the US dollar Lingshi coupons similar to the Bretton Woods system. The development of the system is seriously lagging, and there are not even commercial banks.That is to say, in order to properly solve the third Lingshi financial crisis, President Lu Yang must forcibly build a central bank without commercial banks.

Faced with this seemingly impossible request, President Lu Yang chose the most frenzied but only feasible solution, which is to directly introduce the concept of quantitative easing and Wuliangjianpai debt, and directly use the seven super spirit stones The official authority of the mine veins and the seven factions of Kyushu directly created a credit system from scratch.

In other words, the normal financial development history should be like this:

The continuous development of human productivity - the increasing demand for commercial transactions - the transaction creates a demand for credit - the emergence of commercial banks - in order to stabilize the value of currency, some commercial banks have become central banks - central banks and precious metals (spiritual stones) Decoupling and switching to issuing credit currency - credit currency derives credit based on commercial credit - in order to stimulate the economy, central banks of various countries start quantitative easing to derive credit through direct purchase of assets.

However, in the world of cultivation in Kyushu, due to the unique operating logic of the cultivation society itself and the intervention of President Lu Yang, the earth traveler, the history of financial development has become like this:
Human productivity has stagnated for a long time - the demand for commercial transactions is not enough to produce commercial banks - but cultivators still need mortals to collect cultivation resources - so they still need to find a stable currency - but Lingshi is not enough to take on the function of currency - the entire economy The system began to collapse from the bottom - the traverser Lu Yang directly prepared to build the Lingshi Reserve Bank to turn the tide - the Lingshi Reserve Bank actively purchased Lingshi mine stocks to support currency credit through quantitative easing - forcing commercial banks to appear.

The idea was genius, but also extremely risky.

Because the normal financial system is naturally evolved and has a solid foundation, but President Lu Yang's financial reform is like building a building first, and then laying the foundation after people live in it.As long as the foundation is slightly distorted, for example, the order of a certain screw is wrong, the whole building will collapse.

Without the full support of Ma Tianyi, the number one powerhouse in Kyushu, betting on the fate of the Wuliang Sword Sect, he would even have used the strongest ultimate move of the Six Paths Sword to kill on the spot the elder of the Shenhuo Sect Yuanyingqi who was trying to destroy the preparations for the Lingshi Reserve Bank , Lingshi Reserve Bank may have just taken the first step, and it will die without a place to bury it.

Therefore, some self-cultivation economists once pointed out that although Lu Yang founded the Lingshi Reserve Bank by himself, Ma Tianyi, who was the head of the Wuliang Sword Sect at the time, was the real father of the Lingshi Reserve Bank, so it cannot be said that Lu Yang Lu Yang's academic contribution surpassed that of Bo Nanke and Ye Lun, because at least half of Lu Yang's contribution should belong to Ma Tianyi.

From Yang Lu's point of view, he still can't figure out why Ma Tianyi fully supports Lu Yang.

Yang Lu believes that even President Lu himself may not be sure in advance whether his currency reform will be a big success, but even so, Ma Tianyi still chooses to bet everything to support him.

The same time traveler, the same low-grade spiritual root disciple, and the same financial knowledge of the earth, Yang Lu let alone ask Lin Jianxing, the head of the Wuliang Sword Sect, for help, even if he really became the great-grandson-in-law of Li Qingyang, the president of the Lingshi Reserve Bank, Li Qingyang It is absolutely impossible to support him in such a currency reform adventure with a very low success rate.

It can't be that Ma Tianyi is also an earth traveler!

And in Yang Lu's view, President Lu's reforms are not completely successful, because the cultivation world simply does not have enough demand for commercial credit, and the emergence of commercial banks such as Haiya Bank was completely forced out by the emergence of Lingshi Reserve Bank. Yes, this makes the commercial bank not so much an operating entity, but rather an arbitrage entity.

Due to the low rate of return on credit assets of Xiuzhen Bank and the high rate of bad debts, a large amount of Haiya Bank’s assets are deposited back to Lingshi Reserve Bank in the form of reserves. Therefore, the profits of Haiya Bank and Lingshi Reserve Bank are strictly minted. Taxes, rather than the benefits brought about by risk pricing, have instead widened the gap between the rich and the poor in the cultivation world.

And due to the lack of reasonable supervision, Su Yuanfeng, the president of Haiya Bank, has even started to use Haiya Bank as an unlimited cash machine. Although this dangerous operation has not yet caused problems, Yang Lu always feels that it will happen sooner or later. event!

In any case, the "Luyang Currency Reform" during the third Lingshi financial crisis completely rewrote the economic structure of the Kyushu cultivation world, and its impact was far greater than that of "Bo Nanke Currency Reform" and "Ye Lun Currency Reform" It is more far-reaching, so it is understandable for some people to juxtapose it with the two crises of heaven.

But no matter whether the last 500 years are considered as the fourth era of the cultivation world, most of the social systems and social phenomena in the cultivation world of Kyushu today were established during the second crisis of the heavenly law. The world is almost completely unconnected, and there is even a clear sense of separation. Except for a few exceptions such as the Seven Great Sects of Kyushu, most of the vassal sects such as the Haiya Sect and the Shanying Sect only continued after the second Heavenly Dao Crisis ended. established.

Li Qingning's voice was very nice, and the history itself was very interesting. Yang Lu was listening with relish, but his eyes were unconsciously attracted by a strangely shaped mountain in the distance.

Completely different from other peaks, this mountain seems to have undergone a violent explosion. The upper half of the entire mountain was blown up without a trace, and there are radial explosion marks at the fracture. , such a ruin-like mountain appeared suddenly, it was very difficult for Yang Lu not to notice it.

So he pointed to the mountain and asked, "Miss, does this lonely mountain have any special history?"

Looking in the direction of Yang Lu's finger, Li Qingning suddenly showed an expression of enlightenment: "This lonely peak that has collapsed in half was once the spiritual stone storage of the Kyushu Currency Union. Since the head of Bo Qing 7000 years ago, From the later head of Bo Nanke, until the last head of Ma Tianyi, all the heads of the Wuliangjian Sect will set up the retreat here to protect the safety of the spirit stones in stock of the Wuliangjian Sect and prevent the sect from stockpiling them. The spirit stone was stolen."

"What then?"

"Later, because of the establishment of the Lingshi Reserve Bank, the Wuliang Sword Sect no longer needed to accumulate so many Lingshi stocks to deal with the potential redemption pressure of Lingshi coupons, so this place gradually became deserted!"

Yang Lu pointed to this isolated peak that had completely collapsed, and asked with some doubts: "But why did the entire mountain collapse? I see that there are obvious traces of explosions on the fractured part of this isolated peak!"

Li Qingning took it for granted and said, "Because Ma Tianyi, the former head of the Wuliang Sword Sect, ascended to the realm of immortals here!"

Yang Lu was surprised and said: "Is Feisheng Immortal Realm still going to cross the catastrophe? He actually blew up an entire mountain!"

When mentioning Ascension by Day, Li Qingning was obviously a little vague: "Who can say about Ascension by Day? In the past, the process of Ascension by Day by the three Ascension Immortals felt a little different, and the movements they made were quite different. Small. Now everyone is speculating that every cultivator may have a different process of ascension in the daytime..."

(Chapter 236 was divided into the wrong volume. I accidentally clicked on the fourth volume. I am contacting the editor to revise)
(End of this chapter)