"How do you know that printing too much money will cause it to be lightweight?"

Li Yang asked the extremely curious question in his heart.

Dong Fei had a surprised expression, as if the question Li Yang asked was a very idiotic question, and said, "This ...... Since ancient times, when there is too much money, it will cause a situation where money is light and things are heavy. Thousands of years ago, the Yin Shang period used shellfish as currency for the exchange of goods, so it was extended to the Western Zhou Dynasty and was also widely used. But later, someone found a huge amount of seashells on the beach, so that the number of shellfish increased sharply, so that the money is light and heavy, so the currency should not be issued too much, and it should maintain a balance with things. ”

Li Yang suddenly realized, and at the same time felt that this was a talent.

This person was able to over-issue the shellfish currency from the Shang Dynasty, which caused the phenomenon of inflation, and summed up the principle of monetary deflation and inflation.

You know, this is the Qin Dynasty.

At this time, there was basically no theory of inflation.

At that moment, Li Yang asked again: "Then how can we maintain the balance between money and prices?" ”

Dong Fei thought for a moment and said: "This is simple, the money is light, the money is light, and the things are light." ”

"Good!"

When Li Yang heard this, he shouted hello and praised: "Dr. Dong is actually a good talent in economics and finance, and the position of a doctor is overkill." ”

When everyone heard this, they didn't understand why Li Yang was so optimistic about Dong Fei.

Even Dong Peng didn't expect that Li Yang would think so highly of him, and he actually discussed the position of doctor, thinking that it was overkill.

Of course, only Li Yang knows how rare Dong Pengzhi's talent is in this era.

If the money is light, it will be sealed, and if the things are light, it will be ......

Doesn't this mean that if there is too much money, it is necessary to seal the money in India to reduce the currency in circulation?

As soon as there is less money in circulation, the money will naturally become heavier.

And the light thing means that there is less money in circulation in the society, so more money will be issued, so that the more money in circulation, the balance between money and goods can be achieved.

To put it bluntly, this is the basis of monetary science in later generations!

At that moment, Li Yang said to Fusu: "Eldest son, for the long-term plan of Daqin, it is very important to issue paper money. ”

Fusu saw that Li Yang had talked about this, and also listened to Dong Peng's analysis and explanation, and also felt that the issuance of banknotes did not seem to be as ridiculous as imagined, so he pondered for a while, nodded and said: "Okay, as long as Taifu thinks that it is feasible to issue banknotes, it is feasible." ”

"The eldest son is wise!"

Li Yang was overjoyed, and his heart was also very moved, because it was obvious that Fusu didn't feel that the role of paper money was too big, and the reason why he agreed was just to trust Li Yang.

At this time, Li Yang said: "Paper money is credit money, and the basis of credit money is the credit of the country. If the banknotes are overissued, the money is light, and the country's credit, after all, is untrustworthy to the people, so it is necessary to set up an agency to coordinate the issuance of currency. ”

Fusu nodded: "What does Taifu think is the most appropriate name for this institution?" Grade geometry? ”

Li Yang said: "The minister thinks that the name of this institution can be called the Great Qin Central Bank!" The grade corresponds to the six departments, and the post of the governor of the central bank is placed in the grade. ”

"Central banks?"

Fusu nodded: "Okay, it's called the Great Qin Central Bank." ”

Li Yang said: "Dr. Dong has excellent insights into the study of money, and he can serve as the first governor of my Daqin Central Bank. ”

When Dong Fei heard this, his heart trembled, and he looked at Li Yang with surprise and joy.

Although he expressed his high opinions and wanted to take this opportunity to show what he had learned, he never expected that Li Yang would directly transfer him to the central bank so soon and take full charge of the currency issuance of Daqin......

More importantly, the position of the governor of the Central Bank of Daqin is the position of Shangshu, and the position of power is so high that it is directly on an equal footing with the six Shangshu, which is ......

Dong Peng was suddenly moved and couldn't help himself.

And Fusu had already seen Dong Fei's talent, so naturally he couldn't deny it, and immediately said: "What Taifu said is very true, Dr. Dong is indeed a good talent in this area, so this currency issuance will be hard for Dr. Dong." ”

Dong Fei and Fusu also agreed, so they immediately took a deep look at Fusu and Li Yang, and they didn't know if they were crying with joy or too moved, so they couldn't help choking up and said, "Minister...... Xie Changgongzi Longen, Xie Zhen is the king, and the ministers will bow and die! ”

Fusu smiled: "You don't have to die, just don't let Lone down." ”

Dong Fei hurriedly said solemnly: "The minister will do his best to ensure the stability of the Great Qin currency." ”

Fusu nodded, very happy.

…………

The issuance of credit currency is subversive for the Qin Empire and even for world civilization, and it is destined to make a strong mark in the long river of history.

On the same day, the Daqin Gazette published this major event of the country in the newspaper and distributed it throughout the country.

Suddenly, the whole country was in an uproar!

Great Qin will carry out currency reform and implement paper money, which will undoubtedly shock all the people in the world.

Can money made of paper buy goods?

This is a problem that every ordinary person of Daqin is worried about.

Of course, they are more worried about whether the copper coins and gold in their hands can still be used to buy goods.

If the imperial court abolished the old currency, it would be nothing if everyone had accumulated wealth in the past.

Therefore, for a while, the hearts of the whole country fluctuated.

It's just that Li Yang is aware of this problem, and the State Council and the Central Bank of Daqin jointly issued a decree in time, and the issuance of new money, although it will not be linked to gold, but the old money can be replaced with new money with the same purchasing power.

In other words, although the old money will not be used anymore, it can be exchanged for new money, and everyone's wealth will not be at any risk.

And this decree has somewhat reassured the people.

Of course, there is also a reason why Li Yang does not plan to let Daqin banknotes be linked to gold.

As for Li Yang, who traveled back in time, he knew that the collapse of the Brinton Woods system had proved that the direct pegging of gold to a single country's currency could only lead to the instability of that country's currency. At that time, a superpower like the United States also implemented the peg of the dollar and gold, but what was the final result? can only be a reluctant choice, this is not a country's currency can afford, this can be regarded as a lesson from the past.

In addition, the role of money is to use the intermediary of daily exchange, the development of the economy requires normal exchange, the faster the speed of economic development requires the greater the supply of money, and it is obvious that the total global reserves of gold and silver and the annual output are certain, so it is necessary to use the administrative power of the state to determine the value of money for exchange in the future world. However, there is also a problem with the fact that there is no real value of money without a general equivalent, and that the economy has developed to a certain extent that the supply of money is too large and inflation increases. This requires central banks to regulate, that is, various monetary policies.

More importantly, the central bank of Daqin is owned by the state and serves the people, and the starting point is the interests of the broadest masses of the people in Daqin, so Daqin's currency does not need to be linked to precious metals, and there is nothing wrong with it.

Of course, the issuance of credit currency cannot tolerate the slightest negligence, so Li Yang naturally did it himself and participated in the whole process.

First of all, it is to set up the Daqin Central Bank, a central financial institution.

Officials are then transferred from the household department to enrich the staffing of this institution.

Next, it's time for the banknote design.

In Li Yang's view, the design of banknotes is nothing more than three factors, material, appearance, and anti-counterfeiting.

And all of this is not a problem for Li Yang, who told him to cross over?