Turning his head again, Li Rui's eyes were already very hot when he looked at Lu Yang.

"well!"

Li Rui said two good words, and then asked Lu Yang again: "The sect-owned mall is indeed conducive to the implementation of new currency. However, whether the new currency itself can succeed depends on the design of the currency system. You mentioned the credit currency system last time to Xiao Mo, which is actually a path I have been thinking about in recent years. Using credit as the anchor of currency is theoretically feasible, but credit out of nothing is too out of no way for cultivators and is extremely difficult at the operation level. My related research has not made any progress. I wonder if you have any other ideas?"

Li Rui spoke very tactfully, but Lu Yang was a smart person, so he naturally understood what he meant.

Li Rui actually means that once the credit of credit currency is established, all problems can be solved easily, but the biggest difficulty here is how to establish credit.

Credit is always easy to destroy, but difficult to build, otherwise countries like Zimbabwe and Venezuela will not have hyperinflation on the earth.

Lu Yang did not answer this question directly, but asked another question: "Is the Jiuzhou Monetary Union system really unable to hold on?"

Li Rui was not angry when he heard such a problem that was so painful.

In his heart, he had already regarded Lu Yang as a closed disciple in his academic field. Seeing that the genius boy in front of him raised this question without having contact with the Jiuzhou Monetary Alliance, Li Rui's eyes showed a hint of relief:

"There are no outsiders here. Xiao Mo is also a person who has participated in the joint meeting of the Jiuzhou Monetary Union. I might as well tell you the truth directly, but this matter must not be rumored. That's right, the repayment ability of the Jiuzhou Monetary Union spirit stone coupon has reached its limit. Unless we cut off the supply of spirit stones from the seven major sects and affiliated sects, we are no longer able to continue to maintain the exchange rate of spirit stone coupons."

"Have the so-called seven spirit stone warehouses exhausted their reserves?"

"It's almost exhausted. At present, the credit of Lingshi Coupons is showing a tendency to collapse. In the past, every time we tightened the cross-continental exchange of Lingshi Coupons, it would lead to the depreciation of Lingshi Coupons. The depreciation of Lingshi Coupons would cause cultivators who are not confident in Lingshi Coupons to start selling Lingshi Coupons. The selling of these people will further depreciate the spirit stone coupons; further depreciation will cause people who have a slightly stronger confidence in Lingshi Coupons to start selling. Then the selling pressure of these people will cause the spirit stone coupons to depreciate again, making it impossible for those who have a stronger confidence in Lingshi Coupons to withstand the losses and start selling. Master Bo Nanke predicted this vicious cycle before his life and called it the "spiritual stone coupon spiral". He warned us that the Jiuzhou Monetary Union must intervene in the market as soon as possible, break up the short sellers of Lingshi Coupons to avoid this vicious cycle."

Li Rui's statement made Lu Yang feel a strong sense of déjà vu.

Bo Nanke's "spiral stone coupon spiral" is actually the "reflexive principle" mentioned by Soros. The current spiritual stone coupon crisis is actually a replica of the Southeast Asian financial crisis in 1997. The so-called "first-time blowing of the spirit stone coupon shorts" is actually the routine of the Chinese government decisively attacking the Hong Kong dollar shorts.

What’s different is that after discovering the difficulties in redemption of Lingshi Coupons, the Jiuzhou Currency Alliance took the initiative to tighten the cross-continental exchange of Lingshi Coupons, causing the credit of Lingshi Coupons to shake; while Southeast Asian countries at that time greatly relaxed foreign exchange exchanges, allowing short sellers to short wantonly, which led to the wavering of local currency credit.

Hearing this, Lu Yang already knew the seriousness of the situation: "Since you allow this kind of spiritual stone coupon spiral to occur, it seems that the Jiuzhou Monetary Union is really at its end."

Li Rui smiled bitterly: "Inside the Jiuzhou Monetary Alliance, this depreciation of the spirit stone bonds has been called the third spirit stone financial crisis."

According to Li Rui's further explanation, Lu Yang had a deeper understanding of the difficulties faced by the Jiuzhou Monetary Union back then.

The core of the so-called "third spiritual stone financial crisis" is actually the continuous appreciation of spirit stones, which has led to the seven major factions having to issue more spiritual stone bonds to ensure the simultaneous growth of money supply and wealth, and avoid a deflationary financial crisis.

However, the excessive issuance of spirit stone coupons has brought great pressure to the redemption of spirit stone coupons of the seven major sects.

Faced with this situation, the seven major schools have two ways to deal with long pain and short pain.

The so-called long pain means continuing to repay the spirit stone coupons in the previous way. Until the seven sects use up their last spirit stone reserves, the economic crisis will not break out.

But this is just a chronic suicide. When the reserves of the seven major spirit stones are exhausted one day in the future, the credit of the spirit stone coupon will collapse overnight, causing chaos in the world.

The short pain is to tighten the cross-continental redemption of Lingshi Coupons and reduce the long-term redemption pressure of Lingshi Coupons, but doing so will immediately cause the credit shaking of Lingshi Coupons. According to Bo Nanke's theory, at this time, the Jiuzhou Monetary Union needs to invest a large amount of spiritual stone reserves in the short term to blow up the short sellers in the market. Once this round of credit crisis is overcome, the Jiuzhou Monetary Union can get a long breathing opportunity.

Obviously, long pain is worse than short pain. In previous repayment crises, the Jiuzhou Monetary Union has chosen the second way to overcome the difficulties.

However, as the exchange of spirit stone coupons across continents tightens again and again, the credit of each spirit stone coupon is more serious than the last time.

After this monetary policy tightened, the collapse of Lingshi Coupon's credit exceeded the expectations of the Jiuzhou Monetary Union. With all the trump cards, the Jiuzhou Monetary Union failed to break out the short positions in the market, resulting in the complete opening of the Pandora's box of "Lingshi Coupon Spiral".

To be ashamed, among the short sellers who make credit for ethereal stone coupons, there is Lu Yang, a reactionary.

Under his instructions, Lily and Xu Xianshi joined the short-selling team, frantically sold spirit stone coupons, and became the opponent of the Jiuzhou Currency Alliance...

In Lu Yang's view, the Jiuzhou Monetary Alliance system built by Bo Nanke has now been completely completed!

The dilemma faced by the Jiuzhou Monetary Union is exactly the same as the dilemma faced by Oriental Pearl City in 1997. What’s worse is that behind the Jiuzhou Monetary Union, there is no support from China, the big backer.

Lu Yang finally knew why the Jiuzhou Monetary Union wanted to hold an emergency joint meeting and why Li Rui urgently recalled him, a young monk in the Qi Refining Stage.

When the Jiuzhou Monetary Alliance is over, even if the new generation of spiritual stone monetary system is immature, it must be forced to move forward. Otherwise, once the monetary policy completely collapses, the entire cultivation world will inevitably be in chaos.

What's even more serious is that the development of the third financial crisis is not linear, but will accelerate the collapse. The dive of each round of spirit stone coupon will increase, and the time interval for each round of spirit stone coupon will become shorter and shorter.

Through the information of Master Xu Xianshi, Lu Yang already knew that the time interval between the two dives of Zhongzhou Fengling Stone Coupons has been shortened to more than ten days, and the diving range is as high as 20%. Since the monetary policy of Jiuzhou is operated uniformly, the situation in other major states will not be better than that of Zhongzhou. According to this rhythm, the spiritual stone coupons will face a catastrophe within two months.

In a word, there is not much time left for the Jiuzhou Monetary Union!

Judging from the current situation, the Wuliang Sword Sect represented by Li Rui seems to be ready to forcibly promote the credit currency system.

However, seeing Li Rui's dying and seeking medical treatment in a hurry, I'm afraid he has no idea how to implement the credit currency system, otherwise he would not have been able to specifically recruit him, a Qi Refining Cultivator, to ask for countermeasures.

After all, he just mentioned a few preliminary ideas of the credit monetary system to Mo Yunlan in the "Spirit Stone Monetary Science" class.
Chapter completed!