Chapter 603 (1/2)
The new year is coming. The two stock markets of Yunzhou and Haishan county have opened. The Shangjun index was 100 points on the first day of opening and directly rose to 300 points at the close, while several stocks on the Shangjun stock exchange market have all doubled several times.
Haishan county is almost the same situation. The Haishan index opened at 100 points and closed at 305 points!
A month later, some rumors emerged, and the news that some people became rich overnight because they bought stocks became an indispensable conversation.
Qian Feng persuaded his family and eventually merged Bazhou bank into zongmen union bank. There were several banks in the same situation, covering almost 70% of the territory of the Yin empire.
So on the first day of the new year, with the opening of Shangjun securities market and Haishan securities market, paper money began to be issued in many places of Yin empire.
What ye Xiang didn't expect was that because he came up with the idea that ten Liang silver could be exchanged for fifteen Liang paper money, it triggered a wave of exchange for paper money in the whole Yin empire.
In the process of zongmen Alliance Bank's layout in Yin Empire, ye Xiang deliberately emptied Ganzhou, where the Dragon capital is located. It is precisely because of this that many rich people in Ganzhou took a lot of silver and went to nearby states and counties to exchange paper money.
Fortunately, ye Xiang prepared enough paper money at the beginning, otherwise the rush to cash would have to ruin the good situation.
However, since then, ye Xiang was a little confused, because unconsciously, the whole Yin Empire had fully entered the paper money era based on the silver standard in more than two months.
However, because ye Xiang was afraid of causing hyperinflation, the preferential policy given by Ye Xiang gradually decreased over time.
However, in the end, the amount of over issued money still reached 130%, and the silver in zongmen Union Bank was almost the sum of the silver circulating in the market of Yin empire.
With the gradual popularity of paper money, the proportion of silver to paper money began to decrease. Now zongmen union bank will exchange paper money one-to-one only when it reaches a certain amount of silver.
Otherwise, the exchange of silver for paper money is subject to a 10% discount. Such a move has led some people to engage in the speculation of collecting loose silver at a rate of 195% and going to the bank to exchange paper money one-on-one after reaching a certain amount.
The result of the emergence of such people is that the scattered silver precipitated at the bottom was finally searched by these people and sent to the zongmen Alliance Bank.
As a result, there is no cash on the market. Therefore, Longdu banks are forced to accept the paper money business, and they need to carry out relevant business according to the conditions given by zongmen Alliance Bank.
In this way, zongmen union bank needs to take an extra layer of skin in this process.
Thus, in this process, those Longdu banks were squeezed part of their profits, which made their operation difficult.
Finally, those banks were forced to take the initiative to integrate into zongmen union bank.
In this process, Qian Feng really felt the increasing speed of this paper money wealth. Now his family can get a lot of dividends without doing anything.
Because he knows how many households his family owns, how many shares of the Alliance Bank, and how much dividends he can get at the end of the year.
Qian Feng calculated that if the current development rate continues, the dividend his family will receive at the end of the year will be the sum of the bank's profits in five or six years.
So now he is more or less complacent. He has a feeling that ye Xiang seems to value him very much. Qian Feng thinks he should have better development in zongmen alliance.
What he doesn't know is that all this is an illusion given to him by Ye Xiang, but the fact is that ye Xiang's revenge on him is actually a kind of support.