After a long and long discussion (theoretical plagiarism), Lu Yang couldn't help but sigh:

Not to mention the world of cultivation, even the earth with a highly developed financial system, the Bitcoin bubble, the liquor bubble, and the technology stock bubble are also harvesting leeks one after another?

There is nothing new in the world.

In his opinion, hoarding spirit stones is the cultivation version of "hoarding high-end liquor in the year". The monetary system that is most similar to the spirit stone standard is actually the Moutai standard.

The supply of Moutai is not large, but it is definitely not small. However, once Moutai starts to raise prices, people tend to hoard Moutai. The more people stock up Moutai, the more fiercely the price increase of Moutai will increase, and the whole process will strengthen itself. Whether it is the supply and demand relationship or the price formation mechanism, Lingshi is very similar to Moutai.

When Mo Yunlan heard Lu Yang's explanation, he was so shocked that he couldn't speak:

Who is this new disciple who personally introduced into the Immortal Sect?

His understanding of the monetary system issues is already comparable to that of the cultivation economist of Li Rui’s level.

Just last night, Li Rui complained to Mo Yunlan with a sad face, saying that the appreciation trend of spirit stones is too fast today, and the seven major sects were forced to issue more currencies to calm down the deflationary pressure. However, the continuous issuance of spirit stone coupons has put huge pressure on the spirit stone reserves of the seven major sects. Tightening the exchange of cross-continental spirit stone coupons will seriously affect the credit of spirit stone coupons in the market. Now the Jiuzhou Monetary Alliance is almost at the end of its reach.

Unexpectedly, a mere new student could see the essence through the phenomenon and understand the huge crisis hidden behind it. Mo Yunlan even felt that Lu Yang even saw more thoroughly about some of the problems than Li Rui!

The lineage of cultivation economics attaches the most importance to economic attainments. Mo Yunlan has completely put aside his contempt at this time: "It's very good! Lu Yang, since you have learned this level of the Jiuzhou Monetary Union system, have you ever considered how to solve the current monetary policy dilemma of the Jiuzhou Monetary Union?"

The question of Mo Yunlan is the "Nijing" problem in the lineage of cultivation economics. When two strange cultivation economists meet, they usually have to exchange views on this issue first.

Since Mo Yunlan asked this, it means that in his heart, he has put Lu Yang's economics attainments in cultivation to the same level as himself and is willing to listen to his views on this matter.

Of course, Mo Yunlan didn't expect Lu Yang to give any specific solutions. His original intention was to exchange views with each other and understand the other's academic tendencies.

But he did not expect that Lu Yang directly gave a decisive answer: "Not breaking, no establishment! If the Jiuzhou Monetary Union wants to get rid of the current dilemma, it must completely reform the monetary system, abandon the spirit stone standard, and convert the anchor of the base currency!"

Mo Yunlan raised his eyebrows and commented without any objection: "It turns out that a newborn calf is not afraid of a tiger. But you must know that the stability of the monetary system is related to the welfare of hundreds of millions of people in the Jiuzhou land and involves immeasurable merits. If there is no mature plan, it is meaningless to say that reform is not allowed! If you want to carry out monetary reform, you must first come up with specific, mature, and able to implement the plan. For example, besides spirit stones and gold and silver, what else can be used as the anchor of the base currency?"

Lu Yang was also excited and replied without thinking: "Of course, it is based on credit as the anchor!"

Credit is the anchor!

Mo Yunlan was shocked when he heard these four words.

This is a barely feasible strategy that his master Li Rui thought about for many years, but this "credit-based" monetary system is too shocking, and even Li Rui himself cannot think about the joints here thoroughly.

The monetary system based on consensus and credit is extremely imaginative but lacks stability. It can be called a dance on a steel wire!

But now a small Qi Refining Cultivator has directly revealed this secret, and from his tone, he seems to have a good idea of ​​this brand new monetary system.

How could this not shock Mo Yunlan?

Mo Yunlan swallowed and said, "It is simple to use credit as an anchor, but it is not easy to do. Without the endorsement of the spirit stone, how can we establish credit? Compared with the credit of the seven major schools, the credit of the spirit stone is as ridiculous as a castle on the beach!"

This is indeed a good question.

Lu Yang thought for a moment before asking again: "Do you know what quantitative easing is?"

Quantitative easing?

Mo Yunlan shook his head: "I have never heard of this concept, so please explain it briefly."

Lu Yang explained: "Quantitative easing means that the monetary policy authorities directly issue currency to purchase existing assets. In this case, the credit of the currency is to use the purchased assets themselves as collateral, and the purchase of assets itself relies on the credit of the currency. The two are a nested relationship that can make the credit change out of nothing. However, because there is no sufficiently developed capital market in the cultivation world of Jiuzhou, I have not fully understood how to operate this aspect."

What is the capital market?

Mo Yunlan felt that his mind could not keep up with Lu Yang, but he also heard the exquisiteness of the theory of "credit purchase of assets, assets derived credit" in quantitative easing.

This method of creating money and credit out of thin air made him breathe in his heart.

Is there really anyone who is born to know this in this world?

If Lu Yang hadn't thought about some operation details, he would have thought about it clearly, and Mo Yunlan almost knelt down on the spot.

If a young man who has just entered the Immortal Sect can solve the first problem in the economics of cultivation. He, a lecturer in spiritual stone monetary science, may even be ashamed of committing suicide.

But even so, Mo Yunlan was completely impressed by Lu Yang's theory. He bowed and said politely: "My teacher has been taught, and Master Li Rui will be very interested in your theory! Very good, I can make the decision and reward you with all the 100 sect contribution points in this course!"

Mo Yunlan's words made other Qi Refining disciples dumbfounded.

Although I didn’t understand the discussion between Lu Yang and Mo Yunlan, the 100 sect contribution points represent what the disciples present knew clearly, which was equivalent to a reward that would only be obtained for more than 20 days when they went to the Shuiling Stone Mining Vein to be a coolie!

It is because "Advanced Spirit Stone Monetary" is the most important course of the Wuliang Sword Sect that Mo Yunlan has the authority to grant outstanding students 100 sect contribution points. As a result, he only received half of the first class, and he actually rewarded all the disposable sect contribution points of this course to Lu Yang alone!

What's more, Mo Yunlan also said that Lu Yang's theory may interest the Supreme Elder Li Rui.

Who is Li Rui?

That was Bo Nanke's personal disciple, recognized as the number one person in the world in the study of "Spirit Stone Monetary Science"!

If Mo Yunlan hadn't gone crazy, wouldn't this mean that Lu Yang's attainment in this area have reached a point where he could argue with Li Rui?

Lu Yang was also carefully considered when he showed up this time. His original intention was to take this opportunity to attract Mo Yunlan's attention and give him the opportunity to ask Li Rui for advice after class, so as to get online with the senior management of the Wuliang Sword Sect. Unexpectedly, he made some of his thoughts on spiritual stone monetary science in the past few days, and accidentally exceeded the task.

No matter what, it is always good to have 100 sect contribution points, and he quickly bowed and said, "Then thank you Senior Mo!"

As a registered disciple of the outer sect designated by Ma Tianyi, Lu Yang did not even have a formal master, so he could only call Mo Yunlan Senior Mo.

This surprised the disciples of the Wuliang Sword Sect even more.

Such a spirit stone monetary genius is actually just a non-staff registered disciple?
Chapter completed!