In the end, the Japanese government still failed to withstand the aggressive arrogance of the People's Bank of China, and in fact they did not have the ability to confront such a Tyrannosaurus rex at all, and even if they did not give the People's Bank of China the right to issue banknotes, they would not be able to stop the Bank bills issued by the People's Bank of China itself from eroding the yen.

And this is not entirely a bad thing for them, although the economy has been controlled by Yang Feng since then, but their economy was originally in the hands of Yang Feng, the main industries of the whole country are all owned by the Yang consortium, and the vast majority of the rest are dependent on the Yang consortium, Yang Feng sneezed and the whole of Japan was shocked, and after giving the People's Bank of China the exclusive right to issue banknotes, it was nothing more than being accused more thoroughly.

Although this means that sovereignty has been lost, and Japan has since become a de facto vassal of China, at least their national economy has been stabilized, and this is a good thing for the common people in the first place, so that they can give their hard-earned money and find a real safe, of course, the key to this safe is not in their hands, which is not something that ordinary people can realize. As for those who can realize this problem, such as those capitalists, they don't care about it, what they need is a stable financial order, and the People's Bank of China has the exclusive right to issue notes, they can get this stable financial order, which is enough for businessmen, as for national interests or something, is Japan still a country?

In this way, with the end of the Japanese government's monetary reform, the old, silver-standard yen banknotes were gradually abolished from circulation, and replaced by the new yen banknotes on the gold standard exclusively issued by the People's Bank of China authorized by the Japanese government.

And the major Japanese banks, including foreign banks. The original old yen deposits in the hands are sent to the People's Bank of China, replaced with new yen banknotes, the same is true of the old yen banknotes in the hands of ordinary people, of course, considering the problem of outlets, this part of the work will be represented by the major Japanese banks nearby, anyway, it is to recover the old banknotes and then get the People's Bank of China for new banknotes, but if the banknotes exchanged back exceed the banknotes' issuance deposit, then this problem has to be solved by the Japanese government itself, and Emperor Yang will not be wronged.

Of course, such a thing is probably not going to happen. If it appears, it will be a credit problem of the Japanese government, it has nothing to do with the People's Bank of China, for the People's Bank of Japan, how much silver the Bank of Japan gave them, they will issue banknotes of the equivalent value of the gold standard, if there is really a surplus, then the Japanese themselves deserve to be unlucky, take the old banknotes that have been invalidated in their hands and go to your emperor!

As for the silver assets in the hands of ordinary Japanese, whether they are deposited in the bank or buried at home, this has nothing to do with the People's Bank of China. In the future, silver will no longer be the currency of Japan, but a precious metal, so keep it if you want! Anyway, it will not be used for circulation in the market, and if you don't want to keep it, then come to the People's Bank of China to exchange for gold. Of course, according to the market value of the huàn, or the huàn new banknotes can also be exchanged, this is completely in accordance with the market operation, that is to say, the price of silver falls, you deserve to be unlucky.

But while silver is no longer a currency in Japan. Instead, it became an ordinary commodity, but it is still the case in many other places, such as the United States. Referring to the United States of America, of course, the Confederacy still adhered to the gold standard, but the United States, after Brian came to power, had changed the dollar to the silver standard, as demanded by the silver miners who supported him. In addition, Mexico, Brazil, these South American countries, Asia India and other countries are also on the silver standard, and this silver will be sent directly to the United States and Mexico, and then used to buy grain and crude oil from these two countries.

The Japanese gave him silver, and then theoretically he gave the Japanese gold, but he also acted as an agent for the Japanese government's banknote issuing power, so the gold as the Japanese government's banknote issuance deposit, is still in his hands, unless there is a collapse of Japan, the people no longer believe in the yen and a large-scale run, otherwise it will always be in his hands, even if there is a run on the yen, he can still find an excuse not to give it huàn, because he has a cannon, what can those poor Japanese ghosts do? In this sense, he got all the silver that the Japanese government had worked so hard to save for nothing, and then used this silver at no cost to unscrupulously storm the American market.

In fact, he has been playing this trick, when China carried out currency reform, the People's Bank of China received all the silver from the hands of the people in this way to the United States, with a large amount of American grain and crude oil flowing to China and Sweden, a large amount of silver poured into the United States, in just five years Yang Feng stuffed the American market with 400 million taels of silver, and even bothered to find Americans to exchange banknotes, directly imitated dollar silver coins, not caring at all that these silver has far exceeded the circulation needs of the United States, Now the United States has begun to inflate because of him, and the Bryan government is miserable.

However, they also have no ability to change back to the gold standard, after losing California and Mexico, and Alaska, the source of gold in the United States has shrunk significantly, and the export of agricultural products to China is silver, and it is not possible to collect it, they are on the silver standard and do not collect silver.

In terms of industry, it has been hit by the new technology of Europe, especially the Young's consortium, the competition of the Southern Confederacy, coupled with the workers' riots, and the constant constraints of racial problems, and the industrial scale that was originally the first in the world has now shrunk to the fourth in the world, and it is still inferior to China.

The main source of gold income is Pennsylvania's crude oil exports and cotton in the central and southern regions, but the problem is that they are still burdened with the British Hades debt, even the war military expenses with indemnities and interest rolling, more than two billion dollars of debt must be repaid in gold, with crude oil and cotton gold earned from the British, and then they have to send back to others, what to take to restore the gold standard?

However, adhering to the silver standard means that under the surging Asian silver shock, prices in the United States are rising steadily, from raw materials to labor, and the already sluggish industry is further suppressed, and agriculture, which earns a lot of silver, is more attractive than industry, and countless factory owners sell their factories that are on the verge of bankruptcy at low prices and join in agricultural development.

Although the People's Bank of China won the right to issue Japanese notes, it was basically equivalent to the country becoming a protectorate of China, but since the defeat of the war ten years ago, Japan's fate has been doomed, this day is a matter of time, even the British have left Kyushu Island with interest, and other countries are even less qualified to say anything, even Nikolai, who is concerned with his own interests, did not dare to say anything, everyone knows that Yang Feng must not be offended at this time.

The Great White Fleet continued to show off its might in Europe, visiting the Baltic coast from the Mediterranean coast to the Baltic coast, and even sailing to St. Petersburg, and after returning, it actually stopped in Sweden, claiming that it would be overhauled at the Young's shipyard, after all, they have sailed more than 10,000 nautical miles now, and it will take a little time to clean up the clams, and it is said that this fleet may stay in Sweden for two to three months, which casts a shadow on the meeting of the great powers that has just begun in Madrid.

No one can figure out what Emperor Yang is doing, after all, no matter how you look at Morocco, it can't be compared to him, and it can be seen from Tang Shao's appearance Xiàn, who attended the meeting in Madrid, that this envoy on behalf of Emperor Yang is completely in harmony, and neither Britain, France, nor Germany and Austria can be offended, except for making it clear that all parties should guarantee the sovereignty and integrity of Morocco, other specific contents seem to be very indifferent.

But now what is Emperor Yang doing to keep this huge fleet that is enough to influence the situation in Europe here?

It wasn't until the Gulf Oil Company erected a huge offshore oil platform on the shallows off the west coast of Schleswig in northern Germany that the forces understood that they were there to escort Yangfeng's oil development.

There are oil fields off the coast of Germany.

This terrible news instantly stunned the British, they really didn't know, Yang Feng and William have been blocking the news, and the location of the oil wells does not need to be explored or anything, Yang Feng directly marked the precise latitude and longitude coordinates on the map, the oil platform can be drilled down, and when the British got the news, the oil wells had already started.

Prime Minister Balfour, who had just sold the leased land in Kitakyushu to Yang Feng cheaply under the pressure of domestic public opinion, was so angry that he almost vomited blood, but he knew very well what this oil well meant, the original British plan for the war against Germany was to cut off oil, blockade the transportation of crude oil from the Americas to Germany by sea, and once the war broke out on land, Russia would be able to control the Romanian oil fields regardless of force or diplomacy, in short, it would control the Romanian oil fields, and the French navy would blockade the shipping to Austria-Hungary in the Mediterranean, and completely cut off the supply of crude oil to the Germans in a three-pronged manner. Without crude oil, Germany would become a tiger without minions, and it would be simple to kill.

But now Yang Feng is mining crude oil on the Germans' own territory, which is still a fart! Although I don't know how much this oil field can produce, since it can make Yang Feng tempted, the output is definitely not low, no more, as long as it can produce one million tons a year, it will be almost enough to drive William's fleet.

But anger is anger, Balfour and the British government are really helpless about this, first of all, they have not started a war with Germany, they can't block the development of this oil field for any reason, and they can't even blame Yang Feng for this, this guy put the fleet in Sweden, and it would be bad if he fell directly to Germany once he was provoked. (To be continued......)