Subtitle of this chapter: Be a man as Jia Yueting, and owe hundreds of billions of debts.

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Economists have been learning from the last experience before responding to the next crisis.

Our economist Yuan is looking forward to the next crisis.

Without the Great Depression, there would probably have been no World War II; In fact, even if there was a Great Depression, World War II would not necessarily break out.

All major historical events have their inevitability, but they must also be taken into account.

But, but, but...... For Master Yuan, the world without World War II is too unpleasant!

For the sake of World War II, in order to trigger the Great Depression of World War II, it is okay to pretend to be this one......

Wait a minute, Yuan Yanqian is "a dead star if you don't pretend to be forced", this forced can't be pretended, can you change it to a forced one.

"Thank you for your question, Dr. Holland." So instead of getting angry, he smiled at the questioner who was deliberately trying to make things difficult for him.

"Gentlemen, although the gold standard is not the object of my doctoral dissertation, as economists we must also pay attention to current events."

"The gold standard and war debts are naturally the two most concerned economic issues of the moment......

"Boom!"

Our Master Yuan lit a cigar and took the opportunity of smoking to sort out his thoughts before slowly speaking:

"Let's start with the gold standard. Gentlemen, in fact, it seems to me that we really have no choice but to rebuild an international monetary settlement system based on gold......"

"We in the United States are probably the only country in the world that can adhere to the gold standard. Maybe Britain and France, if they can grit their teeth and devalue the pound and franc significantly, they should still be able to do it......"

"It's not possible for other countries to come up with that much gold to fund the currencies they issue. Germany, in particular, has another big problem – war debts and reparations......"

"We all know that now the Germans are close to bankruptcy, and the Deutsche Mark is even less talkative. The German government is not to mention paying war reparations, and the German people are almost unable to afford bread......"

"If the Weimar Republic continues to be in such chaos, maybe one day we will wake up and read the morning newspaper about the restoration of the Hohenzollern dynasty. This is good news for me, after all, I am a member of His Majesty Wilhelm II's Junker noble order, a yellow knight! ”

"Hahaha...... Bang Bang Bang ...... Hahaha......"

Hearing this Junker knight's self-deprecation, everyone couldn't help but slap their hands and laugh.

But even more terrible news than the restoration of the German Empire was the fact that the Weimar Republic had become ...... Weimar Soviets! ”

As soon as they heard the word "Soviet", the members of the American Economic Association invariably suppressed their laughter and immediately expressed a worried look.

There is no more love for the capitalist economists than the Soviets...... That terrible word.

Just imagine, if the whole world was shrouded in red flags, where else would they go to be economists?

So Yuan Yanqian raised his voice and said: "I think this is all of you here and economists from the United States and even the world...... Well, there are scenes that the righteous don't want to see......"

"The problem now is that there is a very dangerous vicious circle on both sides of the Atlantic, where Britain and France owe us money, and the Germans owe money to Britain and France, and if the Germans don't pay the money, we can't get the money from the British and the French......"

"If Germany is really as red as Soviet Russia is, and is no longer willing to bear the war reparations of the European War, the British and French will either fight them again or ......"

Yuan Yanqian sighed, took a puff of his cigarette, shrugged his shoulders and didn't continue.

But all of you here are economists and know what he means. That is, Niu Niu and Gaul can only follow in the footsteps of Maozi and Hans.

What love is this...... What a terrible scene!

What the English Soviets, what the French Soviets make people shudder just to think about. Just now, everyone was just sitting in the city of sorrow, but now they are all facing the enemy.

The temperature here dropped to zero in an instant, and even the cough froze in everyone's throats, and the room was suddenly silent.

"Ahem, ahem, ahem......"

Our Master Yuan broke the silence with a cough, he played with the cigar in his hand, looked around, and raised his voice, "So all we can do is ......"

He stopped, raised his right hand holding a cigar, and made an inviting gesture to the crowd.

The professors and doctors in the room said in unison, like schoolchildren: "Lend money to the Germans!" ”

"Bang Bang Bang ......" Yuan Yanqian exaggerated this time raised her hand high and clapped her palms and said, "BRAVO!" ”

Zi said: You owe 10,000 people who forced you to jump off the building, and you owe 100 million people who are afraid that you will jump off the building.

Hans after World War I was the grandson (zei) who owed 100 million, so don't wonder why the Americans used the Dawes plan to make the Sandezi rise again, and Britain and France just sat idly by.

He turned to the next AEA president and said, "Dr. Holland, I think you understand my answer now. ”

"First of all, the first thing we have to do is to restore the international monetary settlement system, no matter what we do, we have to ...... as soon as possible."

Master Yuan would not have proposed any "gold exchange standard", because this thing is inherently incompatible with the Austrian School, and the fixed exchange rate is the great enemy of liberal economists.

Austrian economists such as Mises and Hayek will immediately recognize at next year's Geneva conference that this partially prepared, fixed-exchange rate gold standard is a recipe for disaster. They predicted that sooner or later there would be an economic crisis under this gold exchange standard.

"Secondly, we have to borrow from Germany, huge loans. Germany can only recover its economy by taking loans from us; Then pay the reparations to Britain and France, and Britain and France will pay large German reparations to pay off the debts owed to the United States at the time of the war. In this way, there is a boom cycle. ”

In the original timeline, after the implementation of the Dawes plan in 1924, the dollar flooded the European financial markets: as a result, the American gold dollar not only restored the European economy, but also manipulated the European economic market.

And in this timeline, because our Master Yuan proposed a large-scale financial aid to Germany in front of economists in 1921, this plan was later called the "Yuan Plan" by some people, especially in the Ceris economics community.

So Yuan Yanqian became a great man of Ceris that the German people should be grateful for, and of course, the American people should also thank him.

"Finally......" he smiled meaningfully at the audience, "the roads built by the ancient Romans will lead to our New York!" ”