The Fourth Financial Crisis

The essence of currency is a medium of exchange.

Theoretically, the amount of currency to be issued should be determined based on the total demand for money in the market. The total amount of currency issuance should also be adjusted according to the actual needs of economic development. It cannot be more or less. Therefore, any currency system that is backed by real assets cannot Adapt to the needs of the development of commercial society, because the supply of assets such as gold, silver, and Bitcoin is exogenous and cannot actively match the total demand for money in the entire society.

The credit currency system seems to solve the problem of the uncontrollable total amount of traditional physical currency issuance, but it also has a fatal flaw: the Lingshi Reserve Bank is also managed by certain interest groups and has its own interest considerations.

As Li Qingyang just said, all social crises are essentially financial crises and distribution crises, and distribution crises are theoretically unsolvable because every individual in human society hopes to be allocated more resources. No distribution system can meet the needs of all social individuals, and certain trade-offs must be made.

The different social systems of human beings are essentially different distribution systems. For example, the market economy provides a very cruel but perfect distribution plan:

Survival of the fittest.

Or to use Yang Lu's preferred term, that is, fools cannot be educated, but can only be eliminated.

If there was no market competition, no one would admit that they are a fool, and there would be no set of standards to prove that someone is a fool. However, the market tells everyone a very clear fact through price signals:

Who is the wise man and who is the fool.

It’s useless if you don’t admit it, because the market will vote with money.

However, as the core of the modern market economy, the central bank itself is the largest non-market institution.

Just as Earth's monetary policy experts like to talk about the independence of monetary policy, Li Qingyang can maintain the general fairness of monetary policy because he himself is a vested interest in the Lingshi Reserve Bank system. However, the distributional power brought by monetary policy authority is so huge that no political organization will let it go.

Even on Earth, apart from the fact that the central bank likes to talk about the independence of monetary policy, governments of various countries are actually strengthening their control over the central bank and trying to use monetary policy to achieve their own political goals.

The same is true for the Wuliang Sword Sect.

If the Lingshi Reserve Bank really becomes an accessory of the Wuliang Sword Sect, a financial crisis is almost an inevitable result.

Thinking of this, Yang Lu did not ask Lin Jianxing what he wanted to do with Lingshi Reserve Bank, but asked directly: "Has the candidate for the next president of Lingshi Reserve Bank been decided?"

Li Qingyang sighed lightly and said: "I have already communicated with Lin Jianxing. My position will be taken over by Vice President Yuntianhua. In return, I will support Leader Lin in leading the reform of Zhongzhou's social security system. This is what I can win." Best result.”

Yang Lu had also heard about Yuntianhua, the vice president of Lingshi Reserve Bank.

It has been more than five hundred years since the Lingshi Reserve Bank was founded. Even Li Qingyang, who was only in his twenties at the time, is now very old. Except for Mo Yunlan, who successfully advanced to the Nascent Soul stage, most of the other Zhongzhou cultivators who followed President Lu Yang to conquer the world have exhausted their longevity and died. Only the Vice President of Yuntianhua has achieved great results.

Yuntianhua's age is almost the same as that of Li Qingyang, but because he possesses the highest quality spiritual root qualifications, he is now a late-stage Golden Elixir monk, and his lifespan is more than a hundred years longer than Li Qingyang's. It's just that Governor Yun's level of financial theory is very mediocre. Not to mention compared with Li Qingyang, even compared with Xu Yannan, he is far behind. Moreover, he is also a good guy who doesn't want to offend anyone. He is very good at making friends and can get into the Lingshi Reserve Bank. The position of vice president is entirely due to seniority.

If Governor Yun has any merits, it might just be that he "very much admires Governor Lu".

Obviously, Yuntianhua is not a suitable candidate for the fourth president of the Lingshi Reserve Bank. At best, he can only be regarded as a puppet president who is sloppy and has no independent opinions. However, he is indeed acceptable to all parties. Candidate.

First of all, he is a member of Mr. Lu's lineage and will not fall in love with Lin Jianxing casually; secondly, he has a softer personality and will not give Lin Jianxing any face like Li Qingyang; finally, Yuntianhua's lifespan is less than a hundred years, even if everyone is against him No matter how dissatisfied he is, the president of Lingshi Reserve Bank will be replaced in a hundred years.

Unless President Yun can explode in character and successfully advance to the Nascent Soul stage, it will be another story.

However, Yang Lu believed that the probability of Yun Xingchang advancing to the Nascent Soul stage was extremely low. Not to mention that advancing to the Nascent Soul stage is the biggest threshold besides ascension. The Wuliang Sword Sect has nearly three hundred Jindan stage monks, but only six Nascent Soul ancestors. Even if Yun Xingzhang is really a character If it breaks out, I am afraid that some people whose interests have been harmed will not sit back and watch him successfully advance to the next level.

Based on Yang Lu's understanding of Lin Jianxing, this person would definitely not hesitate to kill fellow disciples who threaten his power!

Because of this, Yang Lu believed that Yuntianhua was completely a transitional president and could not be called Li Qingyang's successor at all.

So he couldn't help but ask: "If Yuntianhua dies, who else can stop Lin Jianxing from getting involved in the Lingshi Reserve Bank?"

A trace of tiredness flashed in Li Qingyang's eyes, and he shook his head feebly: "I don't know... I don't even know if that guy Yuntianhua can survive his 100-year term."

"You are a financial leader in the Jiuzhou cultivation world, don't you have any backup plans?"

Li Qingyang smiled bitterly and said: "You have to know that the Lingshi Reserve Bank was established not only because of the genius of President Lu Yang, but more importantly, it had the full support of Ma Tianyi, the head of the Wuliang Sword Sect at the time. Now Lin Jianxing has a deep prejudice against Lingshi Reserve Bank. I can barely maintain the current situation because of the legacy of President Lu."

Seeing Li Qingyang acting like "I'm almost dead anyway, I'll leave the mess to you", Yang Lu really didn't know what to say: "This... do you still expect me to turn the tide? "

"You are a devil from outside the world. If even the devil from outside the world can't protect the independence of the Lingshi Reserve Bank, it only means that the Jiuzhou cultivation world should have suffered this disaster long ago. Each generation has a mission, and I am just a bad product. The spiritual root cultivators are worse than you and President Lu. To be able to run the Lingshi Reserve Bank to this day is to have overfulfilled the tasks assigned by President Lu!" Li Qingyang has been in power for two hundred years and is obviously not a compassionate Virgin White Lotus. When mentioning Kyushu He didn't seem to care about the rise and fall of the cultivation world. Instead, he was more concerned about the significance of Lingshi Reserve Bank as the legacy of President Lu Yang.

Maybe it's because of various auras.

Li Qingyang's image in the outside world is very noble, and he is completely dedicated to the people of Kyushu until his death. But when he saw him today, Yang Lu felt that Li Qingyang was not that noble in fact. Or in other words, Li Qingyang, the lofty Lingshi Reserve Bank, is actually just an ordinary person, not a living saint.

His attitude towards the fate of the people of Kyushu is probably that I try my best to do what I can, and if I can't do it, there is nothing I can do.

Just when Yang Lu didn't know what to say, Li Qingyang's expression became serious again: "Not to mention the future fate of the Jiuzhou cultivation world, I called you here this time to verify the hundreds of years of trust in Governor Lu. The second reason for speculating on your true identity is to see if you are capable of protecting that girl Qing Ning!"