King

The more joyful the Orc Empire is, the more peaceful the Near East will be. The nobles who originally had little confidence in the Near East development plan couldn't help but raise their stakes when they saw the civil war break out in the Orc Empire.

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

Although transit tax is exempted, the large flow of people still brings countless wealth to Xueyue tie. Other places should still lose money, but Crescent Port has achieved a balance of payments.

Excluding monopoly transactions under the Ministry of Commerce, daily commercial taxes and rents alone cover 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 symbolic. With the current flow of people, next year's rental income will not be able to cope with this flow of customers unless it adds zero.

As time goes by and the Near East is further developed, the passenger flow of Crescent Port will continue to increase.

At that time, commercial taxes and rental income will rise with the tide, and they will have the ability to feed back the territory.

The good news is that's not all. The orc empire was in turmoil, and the smuggling trade became more and more prosperous.

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

If there is not enough cash to pay, then slaves and animals are used to pay off the debt. Since the war started, the number of livestock and slaves pouring into Xueyue Territory has increased fivefold.

The sequelae of the sharp increase in quantity is that the price drops rapidly. If the Lord's Mansion hadn't guaranteed the lowest price and opened up acquisitions, the market would have been ruined.

Looking at the slaves one after another, Hudson strongly suspected that the orcs were packaging the tribes 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 major royal families, almost all orc races can be found in Crescent Port.

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

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

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

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

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

The most typical one is the Beamon clan. When they were members of the royal family, any Beamon would start with a three-digit salary, but now it has dropped to double digits.

Hudson didn't have time to care about this. Anyway, as long as he paid his taxes properly. Without the contribution of smugglers, Crescent Port would not have been 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 of establishing a firm foothold in the first five years and then seeking development has obviously failed to keep up with the changes in the situation and must be systematically adjusted.

The main reason was the infighting among the orcs. Hudson just came up with an idea, but the rest were all caused by the orcs themselves.

The conflicts accumulated in the past were too deep. The orcs had suffered from the royal family's rule for a long time, and the royal family was too arrogant. The problem that could have been solved through political means eventually turned into an armed conflict.

Although both sides deliberately suppressed the situation and did not break out a full-scale civil war, local conflicts have never stopped. If it weren't for the fierce internal fighting among the orcs, the Xueyue Territory wouldn't be able to receive so many slaves.

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

Judging from statistics from the tax department, the total number of orc slaves sold to the kingdom is close to 180,000, half of which remain in Xueyue Territory.

This is just a statistic, and the actual number is much higher. After all, the slave trade also has to pay taxes. No matter how low the tax rate is, it is still money.

Hudson was not naive enough to believe that these unscrupulous slave traders would honestly pay taxes in full.

There is no in-depth investigation, that's because what they are doing is still within the tolerance range. The Xueyue Territory needs more orc slaves to do hard work, and their enthusiasm cannot be dampened.

Huge profits are the driving force. Every time a slave is brought back, the kingdom will have an additional labor force, and the orc empire will be weakened by one point.

An increase and a decrease are double happiness. There is no waste in selling strategic materials, they will all be consumed in the orcs' internal fighting.

If he hadn't been worried about interfering too much and leaving clues that would arouse the vigilance of the orcs, Hudson would have wanted to provoke the conflict himself.

In fact, similar actions have already existed. When Bear Stearns went out for a walk, he would often hang flagpoles between orcs of different races.

Many ethnic groups that already had conflicts didn't even bother to investigate and just started fighting.

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

If the orcs discovered the problem, it would be troublesome to get into trouble. Hudson did not want to become their common enemy and thus ease the internal fighting in the orc empire.

The changes in the situation have directly affected the judgments of all parties. The price is that the Near East Development Bank has less and less cash flow. In order to make up for the bank's liquidity, Hudson has made multiple capital injections.

Not only did he get into the treasury, but he also cheated out of the treasury of Bear Stearns and Maxim.

Unlike other customers' savings, Maxim's and Bear Stearns' money are subject to interest, and the interest rate is the same as the bank's external lending.

After working so hard to attract deposits, the total amount of money in the Near East Development Bank's vaults was only over 4 million gold coins, while the loans issued had reached over 18 million.

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

With such a huge amount of financial leverage, if something goes wrong, we may not be able to do anything to Hudson, but he, as a bank manager, will definitely die in an ugly way.

Being able to leave so much cash is not only due to leveraging, but also due to the issuance of golden tickets.

In the crisis of money shortage, Hudson took the time-term gold certificate from the Near East Development Bank and kept buying in the southeastern provinces.

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

After buying, it’s time to sell, sell, sell.

Delivering the goods to the people in need, after a lot of hard work, a large number of golden tickets flowed back to Hudson's hands.

We didn’t take advantage of the situation, and all we earned in this round was 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. In the end, the profit was only a bunch of goods in my hand.

Fortunately, all the gold tickets used were printed in-house. If the capital cost was calculated, this was a costly transaction.

From a purely profit perspective, this wave of operations is purely charity.

The only effect is to increase the popularity of the golden tickets and let the nobles in the southeastern provinces know that the gold tickets of the Near East Development Bank can be used for trading.

Unfortunately, Hudson has limited talent and limited his promotion activities to the southeastern provinces. Otherwise, this operation alone would have doubled the valuation of the Near East Development Bank.

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

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

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

Taking the first step is always the hardest. After Hudson's constant efforts, the Near East Development Bank's golden ticket finally gained some fame.

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

With beautiful performance statements in hand, the second financing meeting of the Near East Development Bank was once again held on Xueyue Lake.

Unlike the Chamber of Commerce representatives last time, the guests attending the meeting this time were much heavier.

Either he was a core child of a big noble or the leader of a big chamber of commerce. It was obvious that everyone attached great importance to this meeting.

As a bank manager, Rudolf praised the achievements of the Near East Development Bank.

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

Judging from the disbelieving expressions on the investors' faces, Hudson knew that today's financing meeting was more than half a success.

…

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

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 abandoning the business in the Near East and focusing on developing other regions in the Northern Continent to improve the bank's ability to resist risks? "

The man in purple's question made Rudolph slightly stunned, and then he replied:

“Viscount Laurent, that’s not how the account is settled!

From a purely economic perspective, issuing loans 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 outbreak of the Orc Civil War.

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

Apart from the risks involved in issuing loans, our other businesses in the Near East are all profitable.

Everyone knows that the special circumstances of the Near East have led to particularly developed local commercial trade, with frequent bulk commodity transactions.

Now more than 90% of bulk commodity transactions in the Near East use gold tickets issued by our banks, and business travelers are also accustomed to depositing cash in banks.

These businesses alone can create profits of hundreds of thousands of gold coins every year.

The loans issued also have monthly interest settlement.

Based on all business pull-through calculations, as long as the Near East region can be stable for five years, we will have recovered all our investment.

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

Considering the situation of the Orc Empire, no one would think that they would be able to launch a full-scale 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 economics, but also takes into account political factors.

If banks cannot finance development in 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 levied a penny of tax or imposed any restrictive measures. These are the returns on our investment.

Among the guests present, there are also representatives from several chambers of commerce in the Kingdom. If you have any doubts, you can check with them. "

There are really good reasons to invest in “politics.” If the Near East Development Bank wants to expand externally, it cannot do without the support of the Kingdom.

Theoretically, as long as it receives strong support from the Alpha Kingdom, the Near East Development Bank is fully capable of expanding its business to all human-controlled areas in 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 an exclusive monopoly is still afraid that it will not be able to earn back these investments?

What's more, the loan is not fully reimbursable, and the bank collects interest every month. If the Near East had been at peace for a few more years, the cost might have been recouped.

However, the prerequisite for all this is that the loan business in the Near East will no longer expand. If it continues to expand, risks will become uncontrollable.

“Baron Rudolf, we can understand investment politics and pay a certain cost, and everyone must be able to accept it.

However, everything must be done in moderation. 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 and can minimize risks.

But is this profit statement too exaggerated?

According to the data above, you don’t have to do anything to earn millions of gold coins in the next year? "

Viscount Laurent questioned again.

Seeing this scene, Rudolph instantly felt relieved. Those who find fault are the ones who buy things. If you are not interested in the Near East Development Bank, why should you take it so seriously?

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

"Don't worry, your Excellency, the accounts can be checked. I can guarantee with the honor of my family that all the data is true.

If the investment is successfully reached, we can also sign a magic contract. If everyone is still worried, you can also provide the magic contract yourself.

Compared with these detailed issues, you can actually evaluate the value of the Near East Development Bank first.

I think everyone who comes here today, in addition to investing, wants to learn more about the operating model of the Near East Development Bank.

It’s hard to find profitable business, and it’s even rarer to find such a profitable business that is stable and profitable.

If you miss it, you may regret it for the rest of your life.

The most valuable thing about the Near East Development Bank now is its business model. Therefore, when making valuations, please carefully consider this part of the premium.

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

Rudolph said calmly.

Facing so many big shots, he would have panicked if Hudson hadn't been sitting next to him.

However, as a bank president, he still has to face some things by himself. If Hudson can fool these people, he has completed his mission.

When it comes to specific investments, everyone must consider management factors. After all, no matter how good a business model is, it still needs people to operate and manage it.

If the management fails, monopolistic and hugely profitable industries can still lose money.

In the eyes of the outside world, the current Near East Development Bank's profits are too high, but the premise of all this is monopoly.

Alpha Kingdom cannot always have only one bank, and there will inevitably be competitors in the future. Once any industry becomes entangled, profits will plummet.

Tax-free treatment is also unsustainable. After clarifying the bank's operating model, the kingdom can formulate corresponding tax laws.

However, these issues are obviously blurred today. "Near East Development" is a good slogan. Those who don't understand it think it is an agreement reached between Hudson and the Kingdom.

Unfortunately, this was just a tacit understanding between Hudson and the Crown. 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.

Since its birth, a hugely profitable industry like banking has been destined to be unable to stop latecomers.

Even if Hudson gets more people on board, there will still be people who will jump out and go it alone in the future because they are not satisfied with the benefits they have received.

Looking at the embarrassed expressions on everyone's faces, Hudson knew that everyone was stumped. Valuation of emerging industries is the most difficult. Without any reference, it is purely based on feelings.

The particularity of banks means that they cannot be valued using assets. 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 a small amount. The profit is high, even if you are using other people's money to make money.

Later capital injections into the bank were in the form of deposits. Hudson did not foolishly use his own money to increase the bank's capital.

"If you feel embarrassed, just write the valuation figures on paper. Tom brought the paper and pen over and distributed them to everyone.

The amount of financing this time is not large, only 6 million gold coins in total. It would be meaningless if it were divided equally.

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

To be fair, I also put a valuation on Near East Development Bank. Anyone with a valuation above this can enter the next round of negotiations. "

As soon as Hudson finished speaking, everyone wanted to greet his family. A huge financing of six million gold coins is actually called a small amount!

Looking at the entire Aslant continent, which project dares to be so open-minded?

You must know that the annual financial income of the Alpha Kingdom is only more than 10 million gold coins. Although the feudal lord system's tax collection ability has indeed been reduced somewhat, this is still a huge number.

However, complaining deep down in my heart cannot stop everyone’s determination to participate. For no other reason than the Near East Development Bank's profits are sitting there.

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

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

The representatives from the kingdom were all shocked and dumbfounded. It was obvious at a glance that their pockets were not rich.

Although the representatives of the Chamber of Commerce in Mainland China were a little shocked, they were more thinking about how much valuation they should give.

Several representatives from the Southern Continent were the calmest. Not all countries were as poor as the Alpha Kingdom. The poorest kingdom in the Southern Continent, its financial revenue is more than twice that of Alpha Kingdom.

The strong will always be strong, and wealth will be concentrated in prosperous areas. The Southern Continent, which has the most developed economy, has gathered the most wealth in the entire continent.

The value of the same six million gold coins in the Southern Continent is far less astonishing than 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 per family.

What they need to consider now is what kind of valuation they should give to ensure that they do not suffer a loss without being eliminated.