The banking industry may not be particularly difficult to organize compared to the large industrial production that was just beginning to prevail in this era.

However, the profits are far more than that.

If large-scale industrial production wants to make high profits, it can only seek monopoly.

In the financial industry, monopoly is of course more profitable, but even if it is not monopoly, the profit is scary.

After all, large-scale industrial production needs to produce and sell products step by step, and complete the dangerous leap from scratch and from product to money.

And for banks, it's money that comes in, and money that goes out.

Guess how much money I have?

There are so many things that can be manipulated in the process of money in and out.

Even Claydon Investment Bank, the actual investment expenditures are much smaller than they seem.

Because, the money invested is not all in the hands of the investor, but there is a special accounting responsible for auditing.

You have this request for funds, and the accountant judges that it is reasonable, and if it is reasonable, the money will be sent to you.

In other words, as long as the accountant does not agree, the so-called investment amount is only a maximum amount, not the actual money.

These amounts, the money that really represents, are in fact still in the accounts of Claydon Investment Bank in Bank of America.

According to this fund management system, Claydon Investment Bank may venture into entrepreneurs with even $1,000 for even $1,000.

If you take a bigger step, you can even invest $100,000 in entrepreneurs.

Of course, if you don't talk to the entrepreneur and outsiders, they won't realize it.

They don't realize that the expenses they may have applied for at one point have already been all the money from Claydon Investment Bank.

In their opinion, Claydon Investment Bank is unimaginably rich.

The money at Claydon Investment Bank seems to be inexhaustible.

As long as all the money from Claydon Investment Bank is not spent all at once, this illusion will always exist.

In an ordinary savings bank, there may be a run on depositors, but under the review system of Claydon Investment Bank, the authority of investors is far smaller than that of ordinary people, so how can there be a depletion of funds in this case?

Even if the money of Claydon Investment Bank dried up, the money of Bank of America did not dry up.

Claydon Investment Bank can borrow enough money from U.S. banks to weather the crisis.

As for how much money Bank of America itself has, even the middle and senior staff of Bank of America are not necessarily clear.

Because, gold and silver coins go to the Bank of America, and the Bank of America issues bank notes.

An honest bank can issue a dollar of bank notes for every dollar worth of metal currency earned.

But how can there be such a stupid bank.

Almost all banks are eager to turn a dollar of gold into a hundred dollars of bank bills.

Such a magical operation is more than this wave.

It's wave after wave.

Imagine that Claydon Investment Bank, for investors, the investment is issued in the form of U.S. bank bills.

But in fact, Claydon Investment Bank did not have as many bank notes as they claimed to have invested, but tore down the east wall to make up the west wall, and put three bottle caps on the heads of ten investors.

However, the U.S. bank notes of Claydon Investment Bank were issued by U.S. banks that inflated metal money by a hundredfold.

In this way, who knows how much metal money is actually equivalent to the U.S. bank notes that reach the entrepreneur?

But they don't have to worry about that.

When the market only recognizes U.S. bank bills, U.S. bank bills can be circulated at their face value.

So, some people will say that the essence of banking is confidence.

Because if there is no confidence, if there is a run, this monetary system, which has swelled many times, will collapse quickly.

In this way, the hypocritical monetary system seems to be useless.

However, there are two sides to everything, and we must look at it dialectically.

Too many bank bills can collapse the financial system and make people feel that their money is worthless. It used to be worth a dollar to buy a child, but now it costs $10 to buy one. This is inflation. Because the amount of bank bills in circulation is greater than the value of the goods in circulation.

There are so many goods, and of course money is not worth much.

And if there is only metal currency, there is no bank note. There is another problem, there are too many goods, and there is only so much money.

No one is willing to sell their products and goods at a reduced price, and there is a huge backlog of goods in the market, but no one buys them.

This deflationary phenomenon is also undesirable.

Therefore, we want to keep a financial system running normally. There must be enough currency, but not too much.

Doug had the confidence to ask Lincoln to give him a central bank of the United States, because the tide of central banks was inevitable, and no matter who issued it, there must be enough paper money.

Couldn't the Bank of America be its own central bank without Lincoln's support?

Can't and can't, can't.

No, it is not possible to have fiat currency issuance powers. Over-issuance based on metal currencies always carries the risk of a run.

In addition, as the scale of the bank increases, the number of bank bills issued will increase.

Once there is any slightest bit of turmoil, even if the confidence does not disappear, as long as there is a slight run on the age of the stock, it may immediately collapse.

However, if there is a state-appointed central bank, the situation is different.

The state-designated central bank, even if it is based on metal money, issues bank bills. There are more ways to deny it.

First of all, it can be secured against the future tax revenues of the state.

In other words, don't look at me and I don't have any money here. You can't exchange the money.

However, I have future taxes as collateral, are you afraid that I will run out of money?

If you are afraid that you will not be able to collect taxes, at that point, can you exchange bank notes, and what's the point?

Because...... This country doesn't exist anymore.

In addition, it is also possible to use metal currency as an anchor and exchange the concept of garment foreign exchange as an anchor.

For example, for every pound you have, you issue two dollars.

You don't know how many pounds I have, I say how many pounds I have.

The last, and most powerful, move is to completely decouple from metal currency.

The issuance of money is transferred to credit.

That's right!

The paper in your hand is not a bank bill, it is simply a real dollar!

What the?

You ask, where is this paper worth his denomination?

Look over there.

There was artillery, there were guns, with a strong army.

I say he's worth it, and you say he's not worth it?

I don't know if I'm too kind, or if you're too floating.

You have the ability to hit me, you have beaten me, what you say is what, you say this is waste paper is waste paper.

But if you can't beat me, I'm sorry, I said that this paper is money, and he is money.

Of course, the average central bank will not do just one of these things, but all three.

I do it at the same time, interspersed with it, and I do it in a variety of postures.

You won't even notice that they've done it.

Because, they have the right to speak and the final interpretation, no matter what they do, in fact, they have the final say.

They give some simple concepts, put on gorgeous and complex concepts, and say that this is science, you don't believe it, you question it, that is, you don't believe in science!

Even, when you use simple and easy-to-understand words to accuse others of how rogue the central bank is.

The central bank will also give you a hat, "You are a civil science!" Because you did not use complex formulas and numerical models to prove what you say, you are a civil science!

What, you say, the principle is simple?

Can you do without those formulas?

Sorry, you're a Minke!"

They even use the paper they issue to buy all the scholars they can sell.

All the scholars say that that is right, you say that it is wrong, do ordinary people believe in authority, or do they believe in the civil science liars in the mouth of the authority?

The answer, of course, is self-evident.

So, Doug Claydon, wants to build a central bank that belongs to him, but serves the people of the United States.

With that central bank, he can do whatever he wants, regardless of the risks.

Of course, in fact, it is almost impossible for such an organization to want him to be private.

This central bank is bound to attract scramble from the US banking industry.

Finally, line up according to the strength and divide the fruit.

Thus, before Lincoln was successfully elected president, before the bill for the creation of the central bank of the United States was proposed.

What Doug needs is to boast about the size of Bank of America and take a bigger share of the pie.

Of course, at the same time, the consortium with the banking industry as the core development will continue to expand.

Originally, did you still wonder why the core of the consortium was the banking industry?

It should be understood by now, because only the financial industry, only the banking industry, can make money out of thin air.

As for the banking industry, why should there be industry?

Because, the banking industry creates something out of nothing, and there must be a root cause in order to have room for operation.

In other industries of the consortium, it is sometimes not very important whether it makes money or not, but what is important is to provide the core business bank of the consortium and the space for storytelling.

Therefore, whether it is the Morgan consortium in another world, whether it will support Edison's General Electric Company and establish a steel consortium to unify the United States, or in this world, Doug wants to build his empire through the chemical industry, equipment manufacturing, and the media industry, there is a theoretical basis.

However, at present, few people can see Doug's ambition clearly.

Those entrepreneurs who are lucky enough to get angel investment, who are now excitedly promoting the "stupid people with a lot of money" of Claydon Investment Bank, and the entrepreneurs who came quickly want to meet Doug, according to the current frequency of meetings, it is possible to meet Doug in 50 years.

As a result, Doug reduced a meeting from ten minutes to three minutes.

And that's not enough, he also compiled an investment heat map based on the entrepreneurial idea records of entrepreneurs that have been collected and the entrepreneurs who have finally been selected.

Then let some staff, according to this heat map, divide all the creative projects into different levels.

The highest level is met by Doug for three minutes, and the secondary, and the most secondary, according to the grade, have the corresponding level of people meet.

And the person of the corresponding rank, if in the process of the meeting, is convinced, can be elevated. Meetings are conducted at a higher level.

If the higher level also thinks that the idea is interesting, they will continue to report it.

If everyone thinks it's funny, they will end up in front of Doug, and Doug will have a meeting.

It is true that such a tiered audit system has greatly increased the workload.

However, it is not Doug's workload that has been added.

Doug's time is valuable, Doug's time is limited, but those secondary employees, as well as the subordinates and employees, are not as valuable and cherished as his time.

Even if you exchange three times the worthless time for one unit of Doug time, Doug earns it.

Of course, this is just an ideal system.

If such a system wants to work in practice, it will almost certainly go wrong.

Because, the more people involved in any process, the greater the chance of problems.

And how to reduce the probability of problems?

It's very simple, add a verification team to fill in the gaps.

But.

Here's the problem.

This adds more people, and the more likely it is to go wrong.

As long as there are enough entrepreneurs to meet, there will definitely be cases where he seeks investment here, but does not pass, but his own investment succeeds.

Because those who are cheap, looking at things with an eye that can't see the future like Doug.

They can't look at the problem with a dynamic eye, because although the upper limit of the system is Doug, the lower limit is really ordinary employees.

However, even if this is the case, the system of Claydon Investment Bank will be the most advanced investment system of this era.

Because other investments are either the personal behavior of individual investors, or those that have not formed an organized and professional investment behavior.

Doug rubbed his temples, and even though it had been graded like this, this needle in a haystack operation was still a little too tiring.

Because people are stupid and have a lot of money, there are too many investors who come to seek investment.

Even after one review after another, those duplicate cases were screened out.

However, the employees below are afraid of missing any possible success story.

As long as an idea or an idea, a little bit new, they will submit it.

Doug can only continue to emphasize and train them to improve their professional ability.

For example, let them in the process of evaluation. Add the weight of the entrepreneur's past experience.

Whether entrepreneurship is entrepreneurship in the industry, whether it has the experience of successful entrepreneurship.

Even, for some key entrepreneurs, it is necessary to conduct sufficient background research.

Judging from this person's growth experience and background, as well as his living environment, whether he is suitable for entrepreneurship.

After all, when an idea is found, it's still people who do things.

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