king.

The more troubled the orc empire is, the more peaceful the Near East will be.The nobles, who had little confidence in the development plan of the Near East, couldn't help raising their bets when they saw the civil war broke out in the Orc Empire.

For a while, Crescent Port became more and more prosperous, and there was an endless stream of ships coming in and out every day.

Although the transit tax was exempted, the large flow of people still brought countless wealth to Xue Yueling.In other places, what should lose money is still losing money, but Crescent Port has achieved a balance of payments.

Excluding the monopoly trading under the Ministry of Commerce, the daily commercial taxes and rents alone cover the administrative costs, and there is even a surplus.

There is no doubt that this is a good start.This year's shop rents are all charged at a symbolic rate. With the current flow of people, next year's rental income will not add zero, which is a shame for the flow of people.

With the passage of time and the in-depth development of the Near East, the passenger flow of Crescent Harbor will continue to increase.

At that time, commercial taxation and rental income will rise accordingly, and they will have the ability to feed back the territory.

The good news isn't all that.The orc empire was booming, and even the smuggling trade became more and more prosperous.

The prices of all commodities that can be related to the war are constantly rising. Basically, the orcs will buy as much as the smugglers have.

If there is not enough cash to pay, then use slaves and livestock to pay off the debt.Since the flames of war were ignited, the number of livestock and slaves pouring into Xueyue Territory directly increased by five times.

The aftermath of the sharp increase in the number is the rapid drop in prices. If the Lord's Mansion hadn't opened up the purchase with guaranteed reserve prices, it is estimated that the market would have been ruined.

Looking at the ship after ship of slaves, Hudson very much suspected that the orcs were packing up the tribe and selling them to him.

It used to be that only some weak races would become slaves, but now it has expanded.Including the four royal families, almost all orc races can be found in New Moon Harbor.

Slave traders are all good people and know what customers need. After slaves are sent to Crescent Port, they are first screened and sorted.

High-quality slaves are sold to nobles, entertainment venues, and the Colosseum, and the rest are packaged and sold to Lord Hudson.

As a coolie, as long as the price is cheap and you have a lot of strength, you don't need to ask for so much.

Generally speaking, the more handsome the slave, the higher the transaction price.

The only exception is the orc royal family, regardless of their appearance, this status alone doubles their worth.

The most typical one is the Beamon family. When they were members of the royal family, any Beamon started in three digits, but now it has dropped to double digits.

Hudson has no time to care about these, anyway, as long as he pays his taxes in a proper manner.If it weren't for the contributions of the smugglers, New Moon Harbor wouldn't be able to make a profit so quickly.

The large influx of orc slaves made up for the labor gap in Xueyue Territory.Many planned infrastructure projects have been scheduled in advance.

The original plan to establish a firm foothold in the first five years and then seek development strategy has obviously been unable to keep up with the changes in the situation, and systematic adjustments must be made.

The main reason is that the orcs fought among themselves. Hudson just came up with an idea, and the rest of the things were all done by the orcs themselves.

The contradictions accumulated in the past are too deep. The orcs have suffered from the royal family's rule for a long time, and the royal family is too arrogant. The problem that could have been resolved by political means finally turned into an armed conflict.

Although the two sides are deliberately suppressing and there is no full-scale civil war, the local conflicts have never stopped.If it weren't for the fierce fighting among the orcs, the Xueyue leader would not have received so many slaves.

Not only Hudson is using a large number of orc slaves, but the nobles in the Near East are also following suit.Even some lords who lacked population in the northern Xinjiang area joined in the fun.

According to the statistics of the tax department, the total number of orc slaves sold to the kingdom is close to 18, and half of them stay in Xueyue Territory.

This is only a statistic, and the actual number is only a lot more.After all, the slave trade also had to pay taxes, no matter how low the tax rate was, it was still money.

Hudson would not naively think that these unscrupulous slave traders would honestly pay taxes in full.

No in-depth investigation is because what they are doing now is still within the tolerance range.Xueyue Territory needs more orc slaves to do coolies, and their enthusiasm cannot be dampened.

Huge profits are the source of power. Every time a slave is transported back, the kingdom will add a labor force, and the orc empire will be weakened by one point.

One increase and one decrease, that is double happiness.There is no waste in selling the strategic materials in the past, and they will all be consumed in the internal fighting of the orcs.

If it wasn't for worrying about interfering too much, leaving clues and arousing the vigilance of the orcs, Hudson would have wanted to provoke the conflict himself.

In fact, similar actions already existed.When Bear Stearns went out for a walk, he often hung orcs of different races on flagpoles.

Many races that already had conflicts didn't even bother to investigate, so they went straight to it.

This situation continued until the two camps confronted each other, and then slowly stopped.It is easy to fish in muddy water, but it is not suitable for too many actions when the situation is clear.

If the orcs find out about the problem, it will be troublesome to get burned. Hudson doesn't want to become their common enemy, so as to ease the infighting of the orc empire.

Changes in the situation have directly affected the judgments of all parties.As a price, the cash flow of the Near East Development Bank is dwindling. In order to make up for the liquidity of the bank, Hudson has injected capital many times.

Not only did he get his own treasury in, but even Bear Stearns and Maxim's treasury were cheated out by him.

Different from the deposits of other customers, the money of Maxim and Bear Stearns is subject to interest, and the interest rate is the same as the bank's external lending standard.

With such an effort to pull deposits, the total amount of currency in the vault of the Near East Development Bank is just over 400 million gold coins, while the loans released have reached more than 800 million.

Having seen the high leverage ratio in his previous life, Hudson could accept it, but Rudolph, the president, was almost scared to tears.

With such a huge amount of financial leverage, if something goes wrong, everyone may not be able to treat Hudson, but he, the bank manager, will definitely die ugly.

Being able to keep so much cash is due to the issuance of golden tickets in addition to leverage.

Under the crisis of money shortage, Hudson kept buying and buying in the southeastern provinces with the regular gold notes of the Near East Development Bank.

Although the aristocracy had no love for golden tickets, it was indeed more convenient than bartering. With Hudson's reputation as a guarantee, everyone could reluctantly accept it.

After buying, sell, sell, sell
After sending the goods to those who need them, after a lot of tossing, a large number of golden tickets flowed back to Hudson.

They didn't take advantage of the fire, and all they earned in this wave were hard-earned money. Some products even suffered losses due to unsatisfactory sales.

After spending a lot of effort for more than two months, the transaction volume was in the millions, and at the end of the day, the profit was only a bunch of commodities in the hands.

Fortunately, the gold tickets used were all printed by the company itself. If the cost of capital is calculated, this is a bloody business.

From the point of view of income alone, this wave of operations is purely charity.

The only effect is to raise the popularity of the golden ticket, and let the nobles in the southeastern province know that the golden ticket of the Near East Development Bank can be used for trading.

It's a pity that Hudson has limited talents, and the promotion activities are limited to the southeastern provinces. Otherwise, this wave of operations alone can double the valuation of the Near East Development Bank.

Ordinary people don't know the meaning of the golden ticket, but they have experienced similar operations in major chambers of commerce, but they are very aware of the huge profits hidden in it.

It has not been able to be promoted, mainly because the resistance from the outside world is too great.Conservative nobles simply do not believe that a piece of paper can replace currency.

Even with the endorsement of a powerful figure like Hudson, the nobles can only be dubious in their own lair, let alone expand to the outside world.

Taking the first step is always the hardest.After Hudson's constant tossing, the Golden Ticket of the Near East Development Bank finally gained some fame.

There is still a long way to go to promote it nationwide.However, in the southeastern provinces and the Near East, it already has a certain degree of recognition.

Holding a beautiful performance statement, the second financing meeting of the Near East Development Bank was held on Xueyue Lake again.

Unlike the chamber of commerce representatives last time, the guests attending the meeting this time weighed a lot more.

Either the core children of the big nobles, or the leaders of the big chamber of commerce, it can be seen that everyone attaches great importance to this meeting.

As a bank manager, Rudolph wrote a lot about the achievements of the Near East Development Bank.

Although the ability to fool is still lacking, the dazzling data cannot deceive people.

From the disbelieving expressions of the investors, Hudson knew that today's financing meeting was more than half a success.

……

"Baron Rudolf, the development of the Near East Development Bank is indeed very good, but in terms of risk control, you are not doing well.

Judging from the report data, one-third of your loan customers are in the Near East.

The risks of these businesses are too high. Once the orcs invade, they may lose everything at any time.

Has the management considered shrinking, or even giving up the business in the Near East, and focusing on developing other regions in the North Continent, so as to improve the bank's ability to resist risks? "

Rudolph was taken aback by the man in purple's question, and then replied:
"Viscount Lauren, that's not how the account is calculated!
From a purely economic point of view, lending in the Near East is indeed a high-risk business, but this risk is not uncontrollable.

In fact, we only expanded our business in the Near East after the Orc Civil War broke out.

Even if the threat of orcs still exists, it is still in the future. At least within a few years, the Near East will not be at great risk.

Except for the risks involved in granting loans, our other businesses in the Near East are all profitable.

We all know that the special situation in the Near East has led to particularly developed local commercial trade, and frequent commodity transactions.

Now more than [-]% of the bulk commodity transactions in the Near East are using the golden tickets issued by our bank, and business travelers are also accustomed to depositing cash in the bank.

These businesses alone can generate hundreds of thousands of gold coins in profit every year.

The loan issued is also settled monthly with interest.

Based on the comprehensive calculation of all businesses, as long as the Near East region can be stabilized for five years, we will recover all our investment.

Even if all subsequent loans become bad debts, we will not lose money.

With the situation of the Orc Empire, you don't think they will be able to launch an all-out war in just five years, right?

What's more, these high-risk businesses are also the foundation of the Near East Development Bank.

Investment is not only about investing in the economy, but also about political factors.

If the banks cannot finance the development of the Near East, why should the Kingdom support us?
From the establishment of the Near East Development Bank to the present, the kingdom has not collected a cent of taxes, without any restrictive measures, and these are our return on investment.

Among the guests present were representatives of several chambers of commerce in the kingdom. If you have any doubts, you can check with them. "

There are too many reasons to invest in "politics".If the Near East Development Bank wants to expand abroad, it cannot do without the support of the Kingdom.

Theoretically speaking, as long as it receives the strong support of the Alpha Kingdom, the Near East Development Bank is fully capable of expanding its business to all ethnic-controlled areas of the Northern Continent.

Compared with this vast market, the investment in the Near East is not worth mentioning at all.

If you lose money, just treat it as expansion expenses.A bank with a monopoly, are you afraid that you won't be able to earn back these investments?

What's more, the loan is not fully compensated, and the bank is collecting interest every month.If the Near East is more peaceful for a few years, the cost may be recovered.

But the prerequisite for all this is that the loan business in the Near East will no longer expand.If the expansion continues, the risk will be uncontrollable.

"Baron Rudolph, we can understand investing in politics, and paying a certain cost must be acceptable to everyone.

However, there must be a degree in everything. How to find a balance between income and investment must have a scale.

Of course, your bank's mortgage guarantee system is still very good, which can minimize risks.

But isn't this profit statement too exaggerated?

According to the above data, you don't have to do anything, and you will have millions of gold coins in your account in the next year? "

Viscount Lauren questioned again.

Seeing this scene, Rudolph instantly felt relieved.It is the buyer who is picky. If you are not interested in the Near East Development Bank, why should you be so serious?

Viscount Laurent is one of the leaders of the four major chambers of commerce in the mainland. As long as he is persuaded, today's investment meeting will not collapse.

"You don't have to worry, the accounts can be checked. I can guarantee with the honor of the family that all the data are true.

If the investment is successfully concluded, we can also sign a magic contract.If you are still not at ease, you can also provide the magic contract yourself.

Compared with these detailed problems, in fact, you can first estimate the value of the Near East Development Bank.

I think that when you come here today, in addition to investing, you still want to learn more about the operation mode of the Near East Development Bank.

It is hard to find a profitable business, and it is even more rare to see such a stable and profitable business.

If you miss it, you will regret it for life.

The most valuable thing about the Near East Development Bank is its business model.So when you make a valuation, please carefully consider this part of the premium.

Once the cooperation is reached, as shareholders, you can send people to watch the daily operation of the bank. "

Rudolph pretended to be calm and said.

Facing so many big figures, if Hudson hadn't been sitting beside him, he would have already panicked.

However, as the president of the bank, he still has to face some things by himself.If Hudson can fool these people over, he has completed the task.

When it comes to specific investments, everyone must consider the factors of the management.After all, even the best business model requires people to operate and manage it.

If the management is pulled down, the profiteering industry monopolized can also lose money.

In the eyes of the outside world, the profit of the current Near East Development Bank is too high, but the premise of all this is - monopoly.

It is impossible for the Alpha Kingdom to have only such a bank forever, and there will inevitably be competitors in the future.Once any industry is rolled up, profits will drop sharply.

Tax exemptions are also unsustainable.After figuring out the bank's operating model, the kingdom can formulate corresponding tax laws.

However, these issues are clearly blurred today. "Development of the Near East" is a good slogan. If you don't know it, you think it's an agreement between Hudson and the Kingdom.

Regrettably, this is just a tacit understanding between Hudson and the Royal Government.The Near East Development Bank addresses funding gaps in the Near East Strategy and the Kingdom supports the Bank's development.

When the Near East Development Strategy is completed, or the kingdom declares that the strategy has failed, the good days of the Near East Development Bank will be over.

The profiteering industry of banks, from its birth, is doomed to be unable to stop latecomers.

Even if Hudson pulls more people into the car, there will still be some people who will jump out and do it alone in the future because they are not satisfied with the interests at hand.

Looking at the embarrassed expressions on everyone's faces, Hudson knew that everyone was stumped.The valuation of emerging industries is the most difficult, without any reference, it is judged entirely by feeling.

The particularity of banks is doomed not to use assets for valuation.In fact, the Near East Development Bank does not have many assets in its hands.

Even if Hudson continues to increase costs, the initial investment is only so little.The profit is high, even if you are using other people's money to make money.

The later capital injections to the bank were all in the form of deposits. Hudson did not foolishly take his own money to increase the bank's capital.

"If you feel embarrassed, then write down the valuation figures on paper. Tom fetches paper and pens and distributes them to you.

The amount of financing this time is not large, a total of 600 million gold coins, if it is taken out and divided equally, it will be boring.

What's more, the introduction of too many shareholders is not conducive to the operation and management of the bank.

To be fair, I also set a valuation for NEDB.Anyone whose valuation is above this can enter the next round of negotiations. "

As soon as Hudson's voice fell, everyone wanted to greet his family. The huge financing of 600 million gold coins is actually not that big!

Looking at the entire continent of Aslant, which project dares to open its mouth like a lion?

You must know that the annual financial income of the Alpha Kingdom is only more than 1000 million gold coins.Although the feudal lord system and the ability to collect taxes did break down a bit, this is still a huge amount.

However, complaining deep in the heart cannot stop everyone's determination to participate.For no other reason, NEDB's profits are there.

Master Hudson dares to sign a magic contract with everyone to ensure that the profit data is true, so it becomes reasonable to raise 600 million gold coins.

In fact, the gap between rich and poor can also be seen from the expressions of everyone.

The representatives from the kingdom were all stunned and stunned, and they knew that their pockets were not rich.

The Chamber of Commerce representatives in Mainland China, although a little shocked, are still thinking about how much to value.

Several representatives from the Southern Continent are the most calm. Not all countries are as poor as the Alpha Kingdom.The poorest kingdom in the Southern Continent, its fiscal revenue is more than twice that of the Alpha Kingdom.

The strong are always strong, and wealth is concentrated in prosperous areas.The Southern Continent, the most economically developed, has gathered the most wealth in the entire continent.

It is also 600 million gold coins, the value in the Southern Continent is far less astonishing than that in the Northern Continent.

What's more, this is not paid by one family, but shared by many forces present, and it is only a few hundred thousand to each family.

Now what they need to consider is what kind of valuation to give to ensure that they will not suffer losses if they are not eliminated.