The former Soviet ruble was once one of the most influential currencies in the world.

However, any financial scholar who studies the history of world currency will inevitably spend a considerable part of his energy and time to review and learn the overall situation of the "ruble scam", and Elena, as a master of quantitative economics, will naturally not miss this part of the content.

Compared with the so-called prophet, what she has is not only the result itself, but more importantly, thanks to the careful learning attitude in class back then, Elena is almost the only person in this era who has seen through all the masterminds behind the scenes.

Due to the sudden collapse of the Soviet Union, without preparation and market supervision, all the countries of the former Soviet Union entered the process of financial liberalization of the market economy reform process almost overnight, and the ruble directly changed from the original fixed exchange rate to a dual exchange rate system without any buffer, and the dollar officially began to enter the market.

Then, after the decision of the G7 summit led by the United States, the kind and generous people of the free world will send long-term aid loans ranging from $20 billion to $30 billion a year to Russia, Ukraine, and other countries in the next few years -- for any field that can stabilize market finance except for real industrial investment.

As a "testimony of friendship" and to better guide the use of the funds, the American economist Joffrey Sachs proposed a genius plan for economic improvement, the "500-day private plan", which is often referred to as "shock therapy".

According to the bright prospects he described to the Yeltsin government and the Russian people, this is a great decision that cannot be more fair.

The original state-owned enterprises of the former Soviet Union will be divided equally among everyone, and each citizen of the former Soviet Union will receive an additional sum of 10 to 150,000 rubles worth of state assets if they do nothing - in the form of shareholding reform and securitization of state-owned enterprises, of course.

Spurred on by a windfall, the people of the former Soviet Union quickly forgot about the woolly bear that had fallen on a snowy night last year, and fell into a national carnival with the paper-based, Soviet ruble-denominated "huge wealth" in their hands.

At the same time, the capitals that had been looking around for a long time rushed up.

Gringotts, the United States, and foreign private institutions...... By soliciting deposits at high interest rates and bribing officials of various countries with huge sums of money, a large number of state-owned enterprises that roamed the land of the former Soviet Union were eaten in ruble deposits and securitized.

As Elena once did, they absorbed and grabbed the market share of the ruble, while borrowing the ruble from the financial institutions of the former Soviet Union in various ways, promising high interest rates that would never be returned - and then, when the time was right, they joined forces to destroy the ruble's exchange rate and complete the most classic empty glove white wolf bridge in the history of currency.

Of course, these are the stories that should have happened in the past, or in the minds of the Gringotts elves, in the future.

At the end of February, two months after the collapse of the Soviet Union, two months after the start of the "shock therapy", the breeze caused by the flapping of the wings of a butterfly in the world finally formed a chilling storm.

......

London, Diagon Lane, Gringotts Wizarding Bank.

In the venture capital department, which was located deep underground, the alternate archives that had been ordered to be closed by Elder Leos were opened again, and the deputy director, Bogo, shuttled through the flying files, calculating what was in his mouth, and looked a little crazy.

As more and more documents were opened by the middle-aged goblin, the expression on his face became more and more terrifying, and the buttons of his elaborate suit had been rudely ripped open, and after a long time, Bogo finally flipped to the end of his predetermined time - 1991-08-01, a day when there was no large-scale exchange business.

“...... Heh, hehe......"

Bao Ge glanced at the empty file location, lowered his head and glanced at the calculated values in his hand, the whole goblin seemed to be dozens of years old in an instant, staring blankly at the white papers scattered around him, and his eyes instantly lost their brilliance.

As the Deputy Head of Risk Accounting and Internal Audit at Gringotts Ventures, he was able to deduce the current range of liquid cash held by Gringotts, as well as the ratio of foreign exchange reserves and liabilities, even if he did not have direct access to Gringotts' overall financial statements.

A few months have passed, and due to the original mortgage agreement with Hogwarts, Gringotts Wizarding Bank's "Golden Galleon cash flow" should have entered a monetary tightening situation a long time ago, otherwise there would be a serious risk of breaking the capital chain.

But these days, the Gringotts Elven Elders Council is still making a steady stream of approvals to expand capital investment, rather than using the due foreign exchange reserves of non-magical countries such as rubles to fill it.

If Bogo remembers correctly, the mortgage agreement signed between the Elven Council of Elders and Hogwarts was paid in Muggle currencies such as US dollars and British pounds, except for 400 million gold galleons, and the rest of the loan amount was paid in Muggle currencies such as US dollars and British pounds - it stands to reason that Gringotts would not directly bear this debt, but would take a high commission and go to the non-magical world to exchange it.

In fact, based on the principle of prudent hedging, they should establish a hedging hedge in the ruble-gold galleon-dollar exchange rate to ensure that their commissions and loan interest are not affected by market exchange rate fluctuations.

However......

Just a few hours ago, Andy Serkis, the young elf who had hosted Albus Dumbledore, had told him that Gringotts' cash reserves of non-magical currency had been depleted a week after the start of the war, and that all of their previous month's expenditures had been settled and exchanged directly in gold Galleons.

However, due to the removal of risk audit warnings, unless there is too much premium, no abnormalities will be displayed.

Moreover, the words of Jin Galleon alone are certainly not enough, in addition, the Muggle banks and investment institutions that Gringotts Wizarding Bank previously secretly controlled in the non-wizarding world have also invested capital in this crazy competition.

However, the most critical thing is......

Click.

The door to the archives was suddenly closed.

The noisy and noisy office area outside was instantly blocked out by the thick magic protection door, and a familiar old voice came from behind Bao Ge, who was sitting on the ground, with a biting coolness.

"That's amazing, Bogo, you're Douglas's deputy. ”

Leos stood next to the closed door of the archive room with a cane, and said in a complicated tone.

"Ever since you started investigating Gringotts' funds, we've guessed you're going to find out about that, right? ”

"Why, and also, where did the gold gallons we use now come from......"

Fairy Bogo sat slumped in place, not looking back, his voice extremely dry.

"You're the deputy head of the venture capital department, do you still need me to answer these questions? The so-called all-out war naturally uses the entire Gringotts gold and small pieces of paper from the Muggle vault—"

Leos's wrinkled and speckled old face moved, pulling out a distorted, ugly smile.

"As long as this mess is over, these costs can be healed, and in fact, we will be the winners in the end - and the traitors and American Muggles have done the same, otherwise they would have been out of the playground long ago. ”

"Elder, this is going to be a problem! this doesn't fit ......."

Bogo opened his mouth, moaning weakly like a man rescued from a drowning sink.

Leos snorted coldly and paused heavily on his staff.

"Bogo, I see that you and Douglas have been so influenced by those stupid Muggles and wizards that you are so obsessed with learning Muggle financial philosophy that you have forgotten our elven traditions!"

"The rightful owner of anything is its maker, not the purchaser. Since we have minted the gold gallons, then all the gold gallons should belong to us goblins, and the gold circulating outside is only temporarily leased by the wizards - I will not let a weak creature like you ruin the battle of Gringotts at such a critical juncture. ”

"Inform the venture capital department that Deputy Director Bao Ge is unwell and needs to recuperate for a while. ”

A flash of coldness flashed in Leos's eyes, and he waved his hand resolutely.

Standing beside the elven elder, the elves in scarlet uniforms walked up in silence and stood in front of Bogo.

The scene that had happened weeks earlier in the office of the head of Gringotts' venture capital department had once again been repeated in this alternate archive full of materials, as if a strange spell had been cast.

And just across the door from the investment department's office area, hundreds of goblins are still in full swing to implement various investment plans, a piece of the former Soviet state-owned enterprise bonds are registered by the Gringotts goblins, astronomical ruble deposits are constantly beating up every second, all goblins are gearing up for the day when the bear meat will be harvested......