Holy Roman Empire

In fact, Aegis has already begun to super-issue.It's just that I don't dare to add hundreds of millions at a time, but I still need to print 800 million more every year.

This small amount of water dries up in the sun.It is difficult for professionals to find out that investing in the capital market naturally cannot cause waves.

Chapter 21 Print, print, print

"Money, money, money" has become the curse of European governments. "12 billion" is not "12 yuan", because the previous war emptied the treasury, and even the Vienna government could not raise so much money for a while.

There is no way, assets and cash are two concepts.It is simply a myth to withdraw 12 billion Aegis without affecting the normal operation of the economy.

Whether it is borrowing from banks or issuing bonds, it is reducing the liquidity in the market.Once it exceeds the tolerance limit of the market, it will affect the normal operation of the economy, and once again backlash to the economy and aggravate the crisis.

One of the essences of the economic crisis is the uneven distribution of social wealth, which is excessively concentrated in the hands of a few people. The pockets of ordinary people are cleaner than their faces, and they lose their purchasing power. The economic cycle will naturally go wrong.

The most ideal state is naturally to let the rich spend their money and activate the economic market.As long as money flows, there will be no economic crisis.

Obviously, this is impossible.Even after a hundred years, there is no way to solve the problem, and Franz doesn't think he can solve it.

In a sense, supporting nobles to build overseas fiefdoms is the biggest policy stimulus.The only regret is that the emerging military nobles have made their fortunes in too short a time, and most of them are not so wealthy.

In addition to the aristocratic group, another person who holds huge wealth is the big capitalist.These people's pockets are even more difficult to find. They are all ghosts and ghosts, waiting for the bottom to buy after the crisis.

Unless the knife is used hard, otherwise these guys who want to maximize their profits will not pay obediently at all.

There is nothing to blame, it is human nature to tend towards the pros and cons.Those who are truly impartial are saints.

No one is more noble than anyone else, and most people will make the same choice in the transposition, including Franz is no exception.If you can't do it yourself, you naturally don't expect others to do it.

"How to solve the funds?"

Franz doesn't care about the specific bailout plan.The plan that can be accepted by the governments of various countries must weigh the results of the final game of the interests of all parties.As for whether it is the best solution, you can only ask God.

In contrast, the funding gap is the crux of the problem.Franz couldn't be more clear about Shinra's family background. It is the result of everyone's cooperation that he can solve half of the funds.

For the remaining gap, we can only find solutions from the financial markets of European countries.If it was really not difficult a year ago, it is a pity that it is a period of economic crisis, which happens to be the time when the market is most short of money.

Taking Franz himself as an example, without counting real estate such as land resources, his net worth was as high as 140 billion at his peak, which is quite wealthy.After the outbreak of the economic crisis, it directly shrunk by 50.00%.

There is no way, the stock market is such a magical place.Even this is the result of insider information and early retreat. If you are slower, you can refer to the broader market of technology concept stocks.

Anyway, it's all tears, the foam that Franz fiddled with, and the bitter fruit can only be swallowed by himself... no, it's leeks.

This is the price of scientific and technological progress. If it weren't for a bunch of listed companies that continue to raise money and burn money, Shinra's technology would not be able to rush to the forefront in the second industrial revolution.

On average, the Shenluo Empire has invested as much as 30 million Aegis in science and technology research and development every year in the past 8000 years; if the time is shortened to the last five years, this figure has reached an astonishing [-] million Aegis.

Except for financing from the capital market, which is shared by all investors, no institution or individual can support this expense.

Investment and return are directly proportional. More than 20 billion funds have been invested, aircraft, tanks, and battleships have come out, and there are countless civilian facilities. Humanity has also entered the era of electricity and internal combustion engines ahead of schedule.

The tragedy is that like many stockholders, Franz became poor.Of the thousands of technology companies in hand, less than 200 can make money. Except for the more than [-] that have entered bankruptcy and reorganization, the rest are continuing to burn money.

Although the company's operating costs have been reduced and the progress of burning money has been slowed down, in sum, there are still losses of up to tens of millions of Aegis every month.

When the market environment is good, some capital is willing to burn money with them. Now that the market situation has deteriorated, the "leek cutting" company that was originally raised by everyone can only be run by Franz himself.

If the company goes bankrupt, it will be difficult to re-establish the brand in the future.After all, no matter how good the story is, it was a failed project, and investors will definitely not be so happy to pay.

It will be different if you stick to it. As long as you survive this wave, there will be plenty of capital to enter the market later.If the intermediate technology breaks through, it will be even more bloody.

There are so many oil bottles, even if there is still money in his pocket, Franz must keep it first.After all, these are high-quality projects in my hands. Although they may be a little ahead of their time, they are also the future of the world.

Life was hard for Franz, let alone anyone else.Anyone who is engaged in the real economy and wants to make a career, now counts as one, and they are all storing grain for the winter, and no one dares to use the precious funds in their hands without authorization.

Those who really have a large amount of idle funds are still playing with finance.Sometimes Franz even wanted to take his salary from the bottom of the pot, directly nationalize the bank, and forget these guys.

Of course, this is just a thought.If Shinra's financial capital might catch up to Britain, then Franz might really be tempted to turn the tables.

The problem is that Shinra's financial capital strength is limited, and it jumped into the technological pit dug by Franz. When the stock market crash broke out, it was almost buried.

Of course, such a good thing is only this wave.learn from mistakes.When the next wave of market starts, it is estimated that the main players in technology will be replaced by retail investors. After all, the success rate is really touching.

Everyone has no money, so where does the money go?

The answer is simple: burned by war.The war consumed a large amount of social wealth and disrupted the normal cycle of the economy. In order to curb inflation and stabilize the currency value, the Vienna government had to reduce the amount of Aegis.

The prosperity of the post-war market relied more on fictitious credit than real currency.

This is also the main reason why Franz wants to compete for currency hegemony. Only by making Aegis an international settlement currency can he avoid the embarrassment of a war that will empty his family.

Prime Minister Carl: "Your Majesty, the current financial market is not suitable for financing. The only way to solve the financial crisis is to increase leverage and issue more currency.

Our reserves are relatively abundant, and the leverage ratio of Aegis has always been low.The Ministry of Finance has calculated that as long as the leverage ratio of Aegis is raised to the level of the British pound, an additional [-] million currency can be issued.

If there is a joint endorsement by European countries, even if it is a one-time additional issuance of 12 billion, the market can accommodate it. "

As a rising star, Aegis wants to defeat the pound to become an international currency, so it must have its own advantages.

Before the end of the European War, Shinra was not unified, and it was far away from the world hegemony. Its international status was far behind that of Britain. Aegis could only rely on "low leverage ratio" and "stability" to gain market recognition.

It just so happens that Shinra is the world's largest producer of gold, and its output is more than the sum of the following two, three, four, five, six, seven, and eight, providing sufficient margin for the government's currency issuance.

Knowing what he knows, Franz was stunned by the government's solution."Printing tickets" when there is a shortage of money seems to be harmless, but in fact it is a serious problem.

Now maybe in the 19th century, the style of painting has suddenly changed to the 21st century, no matter how you look at it, it feels abnormal.But for now, it seems that "printing tickets" is really a good way to solve the crisis.

With the printing of money, navigational inflation is bound to happen.But it is different if European countries endorse it together, which is equivalent to helping the whole of Europe to digest inflation.

One-time extra printing of 12 billion, amortized per capita in the European world, is less than a month's salary.This amount of money circulates in the market, even if inflation occurs, it will not be too large.

As long as the Vienna government's gold reserves are sufficient and the Aegis exchange ratio remains unchanged, the internal inflation will be digested over time.

The most important thing is that while solving the funding problem, it also promotes the pace of Aegis becoming a world currency.Once the crisis is over, the market's confidence in Aegis will reach a new height.

The more Franz thinks about it, the more he thinks it is feasible. There is a good saying: "As long as the money is printed fast enough, the debt will not catch up with me."

After hesitating for a while, Franz asked, "How can countries recognize it? What if they make the same request?"

It's not that Franz is careless, Shinra can solve the financial problem by printing notes, and European countries can also print more notes to ease the financial crisis.

The governments of various countries are not fools. If the Vienna government can ask them to endorse the value of Aegis, then the governments of various countries will in turn ask the Vienna government to endorse their currency.

Everyone "printed, printed, printed" together, Franz couldn't imagine the scene.If Pandora's box is opened, the gold standard will be ready to stop. Gold production cannot keep up with the speed of printing money.

Perhaps the French want this to happen the most. Only when everyone prints their debts can they hope to pay off their debts.It is best to be like France before, with billionaires per capita, so that the compensation can be paid off in minutes.

Prime Minister Carl replied confidently: "We can use interest-free loans and material assistance in exchange for the recognition of governments.

Now they have no choice. Printing currency is simple, but not everyone is qualified to do it.All European countries have their own shortcomings, and it is simply impossible to issue additional currencies at this time.

Needless to say, the ten countries that have gone bankrupt, printing currency is because they think they are not dying fast enough; Montenegro and Armenia have no ability to print money, and the currency is entrusted to our printing factory to print it for them.

The economies of the Netherlands, the Nordic Federation, and Spain are limited, and the printing of currency will immediately trigger rapid inflation; the Russian Empire’s economic size is enough, but as far as the credibility of the tsarist government is concerned, once the currency is printed, the ruble is second to the franc.

The ability of each country to resist risks is extremely limited. Not only can it not be tolerated domestically, but it will not be recognized internationally.Printing more money will inevitably lead to a run, and unless they can abandon the gold standard, they will not survive at all.

In this context, the only way they want to solve their financial difficulties is to borrow money from abroad.Only us and the British can solve their financial problems now.

If someone betrayed the European continent and fell to the British at this time, our knives are not vegetarian, just to kill chickens and monkeys. "

Sure enough, there is nothing new under the sun. The original time and space countries abandoned the gold standard after World War I, which is very similar to the current situation.

"Abandoning the gold standard" seems impossible now, but once you are forced to do so, you can't give up if you don't want to.

Seeing a leaf can tell the autumn, if there is no alternative plan of Shinra, it is estimated that the final result of this economic crisis will end with countries being forced to abandon the gold standard.

To be exact, some countries have already abandoned the direct gold standard.The history is surprisingly similar, and this leading brother is France.

The French government had no choice. After the European War ended, the domestic gold was looted.There is no reserve gold for currency issuance, so how to implement the gold standard?

All international loans are issued in banknotes, but not in gold.Despite the best efforts of the French government to rummaging through the boxes, it has not been able to raise sufficient reserves.

In the end, King Carlos, who was driven into a hurry, gave up his heart and directly borrowed a sum of Aegis as a reserve fund, starting the indirect gold standard system.

The indirect gold standard can also barely count as the gold standard, which is better than going directly to the credit standard.If it is really playing with credit currency, it is estimated that the French people will continue to follow the old path of "billionaires".

Many things are easy to handle as long as someone takes the lead, and the currency standard system is the same.France was just the beginning, and several Italian states, as newly independent countries, also embarked on the road of "indirect gold standard".

The only regret is that Belgium still continued the gold standard system.

There was no way around this. Although Belgium suffered heavy losses in the European war, the desperate resistance of the Belgian army bought time for the government to withdraw, and the gold reserves that were robbed were brought to Shinra by Leopold II.

As a moral and self-cultivated monarch, Franz naturally couldn't do anything to take advantage of the fire. Belgium, which has enough reserves, naturally wants to continue to implement a more independent gold standard system.

Although regrettable, Franz has no regrets.The replacement of gold by Aegis is not something that happens overnight, and if you take too big a step, you will touch your balls.

At least you have to go through it first, and give everyone a time to accept it.For example: First realize the "Gold-Aegis" parallel standard system.

It is not difficult to achieve this. As long as Shinra reduces gold exports, with the development of the economy, countries will sooner or later have headaches due to insufficient gold reserves. At that time, it will be a matter of course to promote the parallel standard system.

After a long time, everyone got used to Aegis as standard gold, and it was time for Aegis to replace gold and establish currency hegemony.

The plan belongs to the plan, and no one can guarantee success before it is completed.There are many similar schemes, or alternative schemes, but this one seems relatively easy.

It has to be admitted that the end of the European War brought great changes to the Vienna government.When encountering such things in the past, Prime Minister Karl would at best put on shoes afterwards.

It is obviously different now. First, he puts on the big hat of the European traitor, and then he wants to kill chickens to make an example of monkeys. It is a proper overlord style.

In fact, this was normal operation in the 19th century.The covenant has been concluded, and it is a betrayal to approach the British at this time, and the traitor must die without negotiation.

Chapter 22 A Seemingly Fatal Misunderstanding

Facts have proved that efficiency is forced out.Ordinary international conferences often fail to reach a consensus within ten days and half a month.

The Continental Economic Summit is different. Seeing the continuous wave of revolution, the governments of all countries panic.If it continues to drag on, no one knows how bad the situation will get.

The imprint of horror left in 1848 still echoes in the hearts of the rulers.Although the revolution was finally extinguished, the impact was far-reaching.

In a sense, the current situation in Europe was created by the 1848 Revolution.

If the wave of revolution hadn't taken away the Orleans Dynasty, there would be no Bonaparte's Great French Empire; if the Great Revolution had not provided an opportunity for reform, the Habsburg Dynasty would not have revived so quickly; if the Great Revolution hadn't stimulated nationalism, God Luo will not be so easy to unify...

After a series of coincidences, it is inevitable that the international situation has developed to this point.

A revolution means a reshuffle in the distribution of benefits, and those with vested interests are naturally unwilling to start over.Whether the reshuffle is good or bad for the country, no one knows until the reshuffle is complete; but for the ruling class, it is definitely a disaster.

In order to prevent the situation from deteriorating further, representatives from various countries attended the meeting with full sincerity.In just three days, countries have reached an agreement on the joint "rescue" issue.

On September 1894, 9, the Economic Council of the European Continental Union issued a rescue announcement, and the eighteen countries of the European Continental Union jointly contributed 1 billion Aegis to revitalize the European economy.

According to the plan, the funds needed for the economic revitalization plan will be shared by the countries in the "joint funding" according to their actual conditions.In other words: whichever country the money is spent on, the government of that country is responsible for paying the money.

It fully embodies the principle of fairness, taking into account the interests of all parties, no one can take advantage, and no one will suffer.

As for the source of funds required, it is natural to "print" banknotes.Franz still pays attention to eating appearance, this time he didn't cheat anyone.Although Aegis was issued by the Vienna government, the benefits from the additional currency issuance were shared with other countries.

Whether it is interest-free loans or material assistance, it is a form of compensation in disguise.The larger the economic volume, the more you get, and the smaller the volume, the smaller the compensation.What matches it is: the risk should be shared by everyone.

While the Continental Economic Revitalization Plan was passed, various countries also pegged their currencies to Aegis one after another.Franz's "European Economic Integration" strategy finally took the first difficult step.

The impact of the "bailout plan" on politics will not be visible for a while, but the impact of the economic crisis will begin to ferment immediately.Not surprisingly, the capital market was the first to be affected.

The stock market began to climb slowly, and capital has quietly entered the market to start buying bottoms.The stagnant market finally started to splash.

While the market is recovering, governments of various countries have also taken measures one after another. For the first time in human history, large-scale government intervention in the economy has begun.

At this time, no one accused the government of interfering in the economy.All walks of life are having a hard time, and the talkative party is also facing an unemployment crisis.The people are all busy with their livelihoods, and they don't even bother to listen to their nonsense.

Regardless of whether it is right for the government to intervene in the market, at least jobs will be created.Although the work is not so satisfactory, but at this time, having a job that can support the family is more important than anything else.

What attracts the most attention is the three-year trip to Africa. The requirements are low and the salary is high. As long as you are strong and strong, you can do it, and it is difficult to avoid attention.

Of course, this "high treatment" is also relative.Before the economic crisis, this kind of treatment could only be regarded as ordinary in most countries, but now it is a period of economic crisis, and it is the conscience of the company to get a salary of [-]% off.

In this context, being able to get a salary with normal treatment in normal times is definitely an enviable job, especially the requirements of this job are extremely low.

The only regrettable thing is that the place of work is in Africa, and there is no confirmation of where I am, and where I am assigned depends entirely on God's blessing.

This little predicament did not affect everyone's enthusiasm in the slightest.After all, people always have to eat.Although the government is also distributing relief food, the black stick is obviously more suitable as a weapon than food.

If it weren't for being so hungry that there was no way, no one would go to receive the terrible relief food.From this point of view, the bureaucrats are not useless, at least to ensure that the food can really enter the hands of those who need it.

The European world is busy saving the market, and the Philippine war has reached a turning point.Originally, Japan and the West were fighting for resilience, betting that the other party would not be able to hold on first.

The situation is different now. With the [-] European countries announcing a joint bailout, it is obviously unrealistic to expect Spain's domestic economy to collapse.

From their own standpoint, European countries will not let the situation in Spain get out of control now, after all, revolution is contagious.It took a lot of effort to quell the wave of revolution. If Spain collapses, all previous efforts will be wasted.

In order to prevent the situation from deteriorating again, not only can Spain not be allowed to collapse now, but even the Philippine War and the European Continental Alliance must intervene.

Otherwise, Spain's defeat would stimulate the nationalists in the country, triggering a chain reaction and causing the situation to get out of control. Who will be responsible?

As for the interests of the Japanese, does it matter?A small country in the Far East that most people don't know, just obey the arrangement; if they don't know the current affairs, the iron fist of imperialism will make them understand what social cruelty is.

Under the efforts of the Spanish government, on September 1894, 9, the Continental Union made a resolution to intervene in the Philippine War.