Dramatic changes in the movies and TV shows

Chapter 1161: Silver Dollar War (Part )

Affected by this, everyone in Shanghai went crazy. More than 40,000 speculators, big and small, did only one thing, which was to buy silver dollars on the streets overnight.

Therefore, the silver dollars on the market are not enough. The big capitalists with large amounts of money will instantly digest these silver dollars off the market.

So when the market opened the next morning, the silver dollar exchange rate jumped directly to an extremely high price of 1 to 3800.

Looking at such inflated prices, some people with clear minds began to prepare to sell silver coins.

Although the legal tender and the gold yuan had also been depreciating before, and one was depreciating faster than the other, the legal tender took 13 years to depreciate into waste paper, while the gold yuan took less than a year.

After all, the RMB is the face of the new government. Even if it depreciates further, it will not depreciate so fast in a few days, so a reverse operation was carried out.

But most people, especially big businessmen and speculators, believe that the renminbi will only depreciate faster.

Moreover, in their view, precious metals such as silver dollars are the most valuable and are circulated throughout the world. Even if the price fluctuates, it will not be like paper money that only "falls" but not "rises".

At this time, the new government issued another announcement:
Tell the ordinary people in Shanghai to quickly exchange their silver coins for RMB. The capitalists who are managing the silver-money exchange are preparing to sell them at a high price and run away. If they don't exchange them for RMB, they will be trapped with silver dollars.

After re-examination, the official quotation for silver coins to be exchanged for RMB still maintains an exchange rate of 1:100, but after the exchange, it can be discounted for savings and linked to the price of grain!

No one cared at first. The continuous devaluation of the RMB and the doubling of daily necessities prices every day made even ordinary people feel that the new government was incapable and could only deceive ordinary people like them.

Now everyone can see that the devaluation of the RMB is a foregone conclusion, and no amount of silver dollars can reverse it.

However, just when all speculators were preparing to celebrate, the silver dollar exchange rate began its ups and downs.

It turned out that the rumors were not false. Those silver dollar dealers struck again and really exchanged unlimited quantities at a price of 1 to 3000.

Seeing that the new government was still resisting, a group of big capitalists and speculators opened fire and threatened to buy as many silver dollars as they could.

But ordinary people are different. When they see that the government still has the strength to spare, they think that after all, the other party controls half of the country. What if they really have such strength?

This is not something ordinary people can get involved in, so to be on the safe side, people took out some of the silver dollars they had and exchanged them for RMB to hedge a bit and have a bottom line first.

However, such people are a minority after all. In fact, most ordinary people do not have extra money. No matter how the exchange price rises or falls, they cannot participate.

After some tug of war, speculators frantically bought silver dollars, but the money in the hands of the silver dollar dealers seemed to be endless.

Their 150 billion RMB did not last long, and by noon, their funds finally ran out.

"What should we do? We have no money left!" The speculators were anxious: "If this continues, we will lose everything!"

Oh no, oh no, those silver dealers have lowered the price again. They have raised the exchange rate to 1 to 2500.

"What?" Everyone was terrified and shouted:

"It's over, it's over now. They must still have silver dollars, and we don't have any RMB anymore. They will definitely drive the price down!"

For these speculators, June 6 was definitely a day of despair. From 10 noon onwards, no one wanted to exchange silver dollars anymore.

But these silver dollar dealers still adjust the prices every hour.

1:2500
1:2000
1:1500
1:1000
At this time, the silver dollar speculators were wailing in the wilderness, as they could not exchange the silver dollars in their hands at all. According to the official exchange machine, 1 silver dollar could only be exchanged for 100 RMB.

That means that the silver dollars in their hands have shrunk by as much as 380 times. Even according to the prices of those silver dollar dealers, they have shrunk by 38 times.

But if they don't exchange their silver dollars into RMB before they fall into the mortal world, they will only end up losing everything.

Of course, there are also those who are stubborn and believe that the silver dollar will go back up sooner or later. Time will teach them a profound lesson.

As a large number of people exchanged their money for RMB, the price finally fell below 1000 at five o'clock in the afternoon, reaching 1 silver dollar to 950 RMB, which undoubtedly sentenced silver dollar speculation to death.

On the second day, the day after, and until June 6, the silver dollar dealers disappeared, and the silver-to-money exchange rate inside and outside the market was finally unified.

"1 silver dollar is worth 100 RMB. The war of silver and money has come to an end!"

Through this battle, the people of Shanghai realized that the Communist Party was different and very powerful. Those arrogant speculators and capitalists in Shanghai were no match for them.

From June 6th to 4th, when the notice to quell silver dollar speculation was issued, the price of silver dollars returned to its original point. The Military Control Commission proved their strength with actions, and the people finally had confidence in the RMB.

At the Military Control Commission, Lao Chen received a commendation from the Central Committee and was very happy. When he saw Lin Hao and Minister Xiao Chen, he laughed and said:

"Haha, Minister Chen, Comrade Xiao Lin, you are really amazing. You have successfully calmed down the silver dollar speculation. The central government has called to commend us!"

"It's just that the losses of these investors are quite large. The troops have received reports every day these days that bodies have been fished out of the Huangpu River. I'm afraid there are 40 to 50 bodies in total."

Minister Chen smiled and said, "We have repeatedly warned them that they could not control their greed. They cannot blame others for this!"

"Besides, do we still have to rescue speculators and capitalists? If they want to die, let them die. Our victory this time is inseparable from the strong support of the Central Committee and Lin Hao."

At this point, Minister Chen said with some emotion:

"If it weren't for his 8000 million silver dollars as a base, we might not be able to defeat them!"

"Although we can solve it through administrative means, it will make people think that we are not confident. This is all thanks to Comrade Kobayashi!"

Minister Chen praised Lin Hao and said that he didn't feel much about the speculator's suicide.

He knew Lin Hao's identity. This little scene was just a small dregs of support for the super rich Lin Hao.

Up to now, they have loaned a total of 400 tons of gold from Lin Hao, and this is after deducting the more than tons of gold they had previously robbed from Lao Chang.

Lao Chen also doesn’t care about the death of investors, it’s just that people jump into the river every day, which has a bad impact.

He also learned about Lin Hao's identity from Minister Chen. Naturally, he didn't say much, but he was deeply moved in his heart.

In this battle without the smoke of gunpowder, with the participation of Lin Hao, they are simply invincible.

According to Lin Hao, if necessary, he can mobilize 1 million US dollars or tons of silver at any time to smash these scum to death.

At this time, Lao Chen suddenly smiled and said, "Speaking of which, in addition to Comrade Xiao Lin who made the greatest contribution, there is another person who also made a great contribution. He should be awarded a medal weighing one ton."

Minister Chen heard his words and turned them over in his mind. Then he couldn't help but smiled and agreed:
"Haha, indeed. The reason we were able to win so easily this time was not only because of Xiao Lin, but also because of Lao Chang!"

"His warships blockaded the Yangtze River estuary, so there was no foreign investment involved. Otherwise, Comrade Kobayashi's two thousand tons of silver would not be enough. Speaking of which, I really have to thank the Chairman!"

"Since foreign capital and materials cannot come in, it makes it easy for us to catch all these compradors, speculators and capitalists in one fell swoop." Chen Yun said jokingly.

"No, we haven't caught them all yet!" Lin Hao said with a smile:

"The next set has been set. It depends on whether they will take it or not!"

······
The next morning, Ta Kung Pao's front-page headline read: "On the economy, the Communist Party scores 1000 points!"

There were rumors before that the Communist Party scored 100 points in military, 80 points in politics, and 0 points in economics, but this vigorous silver dollar war showed that the Red Party was not afraid of economic warfare.

At this time, there were still a large number of silver dollars on the market, but the RMB was extremely scarce. Fortunately, the new government did not go to extremes and stopped silver dollar dealers from exchanging RMB, otherwise the scope of impact would have been even larger.

Because the banks and money houses designated by the new government still exchange RMB at the rate of 1 silver dollar for 100, and the exchange is limited, but discounted savings can be processed.

The RMB exchanged for non-silver dollars or foreign currencies at designated banks can only be used for circulation and cannot be discounted for savings.

At that time, there was almost no RMB in circulation on the market, but silver dollars could be exchanged for RMB that could be discounted for savings. This was equivalent to giving ordinary people a bottom line so as not to destroy Shanghai's finances.

Of course, the big capitalists and speculators also benefited from this, as the silver dollars they had exchanged before would not bankrupt them.

"The Red Party still has humanity~!" A group of speculators sighed: "Bullshit!"

At this time, the people of Shanghai finally reacted and rushed to banks to exchange RMB.

Because when you exchange silver dollars for RMB at a bank, you can apply for discounted savings, which are linked to the current prices of grain and oil, so you don't have to worry about the depreciation of paper money.

······
At this time, the securities building was no longer filled with the laughter, noise, and screams of getting rich from the previous few days.

The whole building was filled with shouting, crying and begging for mercy. The organizers Chen Ruitang, Li Rongran, Ai Zhongfu and others hid in the office with dark circles under their eyes and miserable expressions.

Since the exchange rate fell below 1200, all the silver dollars they had pledged to the bank would belong to Lin Hao if they did not pay to redeem them.

In fact, they wanted to redeem the silver, but they only had silver dollars and no RMB at all.

Fortunately, they still had more than 800 million silver dollars in their hands, which was their last capital. All the rest evaporated inexplicably.

You know, their total assets before added up to more than 4500 million silver dollars.

They were able to leverage hundreds of millions of silver dollars in the past, but now they only have a mere 800 million silver dollars left. With this little money in their hands, they can't even redeem the mortgaged properties. How miserable they are now.

"Oh no, Old Yu jumped off the building, and Old Chen also jumped off the building~!" Desperate shouts were heard from the corridor outside the office.

At this time, there were countless investors who went bankrupt. They put all their assets on the line, mortgaged their properties to banks for loans, and also mortgaged the silver dollars they purchased to banks for loans.

The result is that the loser lost everything, and jumping off the building was a relief.

In the office, Li Rongran swallowed and asked

"Old Wu, how about we surrender to the Military Control Commission and let them take back the silver dollars. Even if it's only 500 silver dollars per coin, it can recover some of the losses."

"Haha, haha, Li Rongran, what are you dreaming about? The Military Control Commission has published an article in the newspaper, saying that you have to bear the losses of silver dollar speculation yourself. These Communists are setting up a trap to lure us in. They have such cruel hearts, such cruel hearts, they have deceived us all."

Chen Ruitang was almost insane at this time, but he did not think it was his fault, but rather a trap set by the Military Control Bureau.

Of course, he was not wrong!
At this time, Wu Yankang still did not give up, and stood up and shouted:

"Is there really no other way? Think of other ways, get another batch of RMB from other places!"

Li Rongran said with a look of resentment:

"Where can we get RMB? The Kuomintang's gunboats are now blocking the Yangtze River estuary, so nothing can be shipped in. Rice, cotton cloth, and coal all come from the Communist Party!"

"Now they collect taxes in RMB, you need RMB to take the bus, and banks won't lend money. How can they give you RMB? It's all a trap, a trap!"

"Why can't I see it? I was fighting eagles all day and didn't expect to get pecked in the eye by an eagle. It's all a trap, it's all a trap. It's not fair. It's not fair. I didn't lose. I didn't lose. I'm going to find Chen!"

Standing up, Li Rongran shouted loudly, and it was obvious that he was mentally ill and might jump off the building in the next second.

Seeing his appearance, Ai Zhongfu knew that this group of speculators was doomed. He had to retreat quickly and look for another opportunity later.

But at this moment, the office door was suddenly pushed open, and his subordinate Li Xingyu shouted loudly:
"It's saved, we're saved!"

"What?" Everyone was shocked when they heard this, and immediately looked at Li Xingyu and asked, "What's the solution? Is there any news? Has Old Chang fought back?"

"According to the latest announcement from the Military Control Commission, we can use silver dollars to exchange for cash at the bank and apply for discounted savings. We are saved!" Li Xingyu said loudly.

"Oh!" After hearing Li Xingyu's words, everyone shook their heads helplessly. This guy might be crazy.

"Don't you understand?" Li Xingyu explained loudly:
"To process discounted savings, you need physical goods, whether it's grain, oil or cotton cloth, you need physical goods."

"That means that if we want to implement the savings policy, we must have enough food and oil. Although we don't have money, we have a huge amount of supplies!"

Yes, if the discounted savings cannot be continued, the RMB will collapse and the silver dollar will eventually appreciate.

Wouldn't their value be restored by then? At the same time, the RMB system would be established, and they could also redeem the silver dollars they mortgaged.

The announcement of the new government's bottoming out seemed to give these big capitalists and speculators hope again, so all the speculators were ready to give it a try.

In order to undermine the credibility of the RMB, they notified all merchants to stop selling grain, oil, cotton cloth and other supplies, and instead began to purchase them from outside at high prices.

As a result, the cotton, cloth, grain and oil war, which was supposed to start in November, was triggered ahead of schedule.