Fourth Spirit Stone Financial Crisis

Fourth Spirit Stone Financial Crisis Chapter 3

2022-04-02

Chapter 3 President Li Qingyang

Spirit Stone contains Spiritual Qi, which is a breakthrough upgrade of Nine Provinces cultivator, murdering to seize the treasures , Precious consumables necessary for auction. According to the ancient legends of the cultivation world, the cultivators of Ancient Era and Middle Ancient era used Spirit Stone as currency directly.

However, using Spirit Stone as currency soon revealed a huge disadvantage: Spirit Stone is a special commodity with dual attributes of high-end consumer goods and financial products. There are also commodities with very similar properties in Earth. It is Feitian Moutai.

Although these types of commodities are hard currencies, they are naturally not suitable for use as currency for a simple reason:

The essence of currency is a medium of exchange.

The amount of money issued by the monetary policy authority should theoretically be determined according to the total demand for money in the market, and the total amount of money issued should also be adjusted according to the actual needs of economic development, neither more nor less.

But regardless of gold, Spirit Stone, Bitcoin, and Feitian Moutai, they all have fatal flaws as currencies, that is, the output growth rate cannot be controlled independently, so the social money supply cannot grow in tandem with the economic aggregate. The mismatch between the monetary aggregate and the economic aggregate is undoubtedly catastrophic.

To give a theoretically inappropriate, but simple and intuitive example of the gold standard:

Suppose there is only one wealth on Earth - flour; and there is only one currency on Earth - gold ; There are only 100 tons of gold and 1 million tons of flour in the whole world, so at this time, each ton of gold is worth 10,000 tons of flour.

With the development of the global economy and the improvement of labor productivity, suppose the world has a wealth of 2 million tons of flour in a few years, but if the total amount of gold is still 100 tons, then one ton of gold is now It's worth 20,000 tons of flour.

In this process, the flour is obviously created by the laborers, but the wealth of those who hoard gold has increased by 100% out of thin air.

This example of flour and gold is theoretically inaccurate, because the total supply of money is also related to the rate of currency circulation, but it still roughly illustrates the inevitable collapse of the Spirit Stone standard The reason: that is, with the development of the economy, the total global gold (Spirit Stone) output cannot keep up with the economic growth rate, and gold will naturally appreciate in value, thus encouraging everyone to hoard gold instead of creating wealth, which has negative incentives for workers.

Workers will find that they have worked hard to make flour for a long time, and the result is wedding dresses for those who hoard gold. In this case, who will work to create value? Why don't you all go to fry gold!

In this case, the outbreak of monetary and financial crisis is the inevitable result.

Just like the collapse of the Earth gold standard, the Spirit Stone standard monetary system also caused a strong deflationary effect in the short term because the total amount of currency issuance (Spirit Stone output) could not meet the needs of economic development. .

Similar to Feitian Moutai, Spirit Stone is a high-end consumer goods that are very easy to be hoarded. The higher the price, the easier it is to be hoarded. However, because the downstream consumer demand is always very strong, this leads to the currency of Spirit Stone. The tightening trend was stronger than gold and quickly detonated the first Spirit Stone financial crisis.

In order to solve the Spirit Stone financial crisis, successive generations of culture economics have successively launched the Spirit Stone, gold and silver linked to each other [three-standard currency system], and the [Nine Provinces currency union] similar to Earth's Bretton Woods system. system】.

The two generations of monetary systems were eventually destroyed by the second Spirit Stone financial crisis and the third Spirit Stone financial crisis because the standard currency could not be completely decoupled from Spirit Stone. Today's [Spirit Stone Credit Currency System] of Nine Provinces cultivation world is the fourth-generation cultivation currency system established based on the balance sheet of Spirit Stone Reserve Bank during the third Spirit Stone financial crisis. Its underlying logic is very close to Earth's mainstream currency system, and its issuance is basically not bound by Spirit Stone itself.

The chief designer of the fourth-generation cultivation monetary policy, in Nine Provinces cultivation world known to everyone, known to everyone, is Lu Yang, the founder of Spirit Stone Reserve Bank, known as the "cultivation financial emperor" , he is also one of the three immortals who have ascended Heaven Realm in the last 500 years of the cultivation world.

Li Qingyang, the third president of Spirit Stone Reserve Bank today, is the named Disciple accepted by President Lu Yang that year.

Li Qingyang was originally from the little-known little Sect Golden Blade Sect in Central Plains. It is said that when the Golden Blade Sect was at its worst, Li Qingyang was the only bare commander left in the entire Sect. In addition, Li Qingyang cultivation aptitude was only a poor spirit root, and the entire Sect was facing the crisis of cutting off the incense.

But just like the protagonist of the online article, Li Qingyang has shown outstanding innate talent in mathematics and finance since he was a child. After just entering the middle stage of Qi Refinement, he was fortunate to be highly appreciated by President Lu and became a leader of the school. President Lu's right-hand man.

His resume can also be described as luxurious.

From Immeasurable Sword Sect Economics and Mathematical Adviser, to the Director of the Research Department of the Cultivation Financial Supervision Committee, to the assistant to Li Rui, the second President of Spirit Stone Reserve Bank, and returned to the Cultivation Financial Supervision Commission as an assistant Chairman, eventually succeeding President Li Rui, becoming the third president of Spirit Stone Reserve Bank, in charge of the highest authority of cultivation finance for two hundred years.

According to the rumors, on the eve of President Lu Yang's ascension to Immortal World, there was such an interesting incident:

Someone asked President Lu Yang: "After you ascend to Heaven Realm, who is qualified Manage the Spirit Stone Reserve Bank?"

President Lu replied: "Immeasurable Sword Sect Nascent Soul Realm Supreme Elder Li Rui can."

Another question asked: "What does Elder Li life essence do? After he passes away, who can serve as the president of Spirit Stone Reserve Bank?"

President Lu replied: "Golden Blade Sect Li Qingyang can."

Also Someone asked: "What will happen after Li Qingyang's life essence is exhausted?"

President Lu just laughed: "Don't ask me about such a distant matter, the younger cultivators will know dealt with."

This passage of "Long Xing Chang Tuo Gu" is well-known in the Nine Provinces cultivation world, and this passage itself is not fabricated out of thin air.

After all, the president of the Spirit Stone Reserve Bank is the core position of the Immeasurable Sword Sect, and its importance is no less than the Immeasurable Sword Sect Sect Master.

But Li Qingyang has never officially joined the Immeasurable Sword Sect, and even worked part-time as the Golden Blade Sect Sect Master for more than 300 years, developing the Golden Blade Sect from a small Sect to Central Plains. Top 10 Second-Rate Sect.

Although Li Qingyang is the most famous cultivation Economics home in the Nine Provinces cultivation world today, he still needs to have the capacity of an expatriate cultivator to serve as the third president of the Immeasurable Sword Sect Spirit Stone Reserve Bank. Powerful people defy the crowd. And a great character with such prestige can also be counted on one's fingers by rummaging through the history of Nine Provinces cultivation world.

Considering the relationship between President Li and President Lu in the early years, the credibility of this "President Lu Tuogu" is quite high.

It is a pity that the cultivation talent of President Li Qingyang is really limited. Even if the Immeasurable Sword Sect provides him with cultivation resources, even if he gains immeasurable merit by taking charge of the cultivation financial power, his cultivation base still stops at Golden Core Early-Stage.

For the inferior spirit root cultivator, this kind of cultivation base has been regarded as unprecedented, and even Li Qingyang is the most powerful inferior spirit root cultivator in the history of Nine Provinces cultivation world. Not too much. However, even the Golden Core Early-Stage cultivator, the highest life essence will not exceed 600 years, even more how Li Qingyang only has a layer of cultivation base in Golden Core.

After hundreds of years, this Legendary cultivation Economics home has finally ushered in the end of his life!

It's just that President Li Qingyang has been in charge of the highest financial authority in the Nine Provinces cultivation world for hundreds of years. He is simply a figure like the Sea Calming Divine Needle in the cultivation financial world, and his prestige is higher than that of the Nine Provinces Seven Major Sects. Sect Master is even higher.

To hear the news of his impending death suddenly, even an ordinary Seacliff City drinker, will inevitably feel unacceptable.

As soon as the news came out, the news girl was instantly surrounded by people. Everyone didn't ask the price at all, and threw the Spirit Stone Coin into her hand, just to get a head start and understand this important issue. Details of the pound news. The heavy newspaper bag that the newspaper seller girl was carrying was quickly sold out.

Before she could spirit slowly recovers from the surprise, Yang Lu shrugged at her and said, "What did I tell you? A little bit of news to whet everyone's appetite, than you hide it. Tuck is too much. This sales method is called hunger marketing!"

Just then, two more newsboys came from the street corner in the snow.

Obviously, these low-level newsboys are not short of smart people, and there are not a few people who can think of coming to the pub to sell newspapers.

But unfortunately, because the girl who sold the newspaper threw a blockbuster first, almost all the drinkers now have a newspaper. The remaining two newsboys looked around, but didn't see anyone in need of the newspapers, so they sighed and left.

Seeing the desolate silhouettes of the two newsboys slowly disappearing into the wind and snow, the girl who sold the newspapers only felt grateful.

She didn't know that Yang Lu was actually a whore, and thought she was fortunate enough to meet expert advice. Thinking that if it wasn't for the expert Yang Lu, who secretly mentioned it, I am afraid that the unfortunate one will become herself, and the girl who sells newspapers will inevitably feel a little scared.

(end of this chapter)