Between the "bones" and "blood vessels" of the national economy of the Far East, the "muscles" and "organs" constitute the various industries such as agriculture, industry, and commerce, among which industry is typified by the State Road and Bridge Company, the Urban Development Corporation and the Karon Industrial Cluster, agriculture is supported by 200 state-owned farms, and commerce is represented by the Mochizuki-Media preferential trade zone and the North Sea trade fleet on Kolas Island. Assisting the central bank in issuing banknotes is a typical political task.

At the beginning of the issuance, the banknotes flowed mainly to the above-mentioned sectors that constituted the main body of the national economy, and were used to pay the salaries of officials, teachers, priests, doctors, employees of state-owned enterprises and farm workers. Complaints inevitably arose at first, but state officials had to obey organizational discipline and had to reluctantly accept the money, which disappeared when it was confirmed that it was indeed used to buy goods in the state sector, and that daily consumption was not affected but became more convenient.

Every person who receives a salary in the state system has at least one family behind them, and when all state institutions and public officials accept and recognize the credit of silver money, their family and friends are gradually influenced by it to dispel their doubts about this kind of banknote.

Individuals, as social cells, are constantly revising their ideas in accordance with the opinions of the majority. When most people in society began to use silver money, no matter how much one hated paper money, he could only accept it, otherwise he would not be able to complete transactions with others, and would either be treated as a monster or exiled himself.

In Roland's view, silver money has gone from being widely questioned to being universally recognized, like an instant chat tool on the planet, if your family and friends are using WeChat, you have to install this thing in your mobile phone in order to maintain family and friendship, this is the so-called "network externality" at work - in the final analysis, it is the domestication of the majority over the minority.

The key is to win the approval of the majority. Roland, with the dominant monopoly capital community of the countries in the Far East, accepted the suspicious novelty of "paper money", which other countries did not have, and could only envy the initiative of the Far Eastern government in vain.

The total face value of the silver banknotes printed by the Central Bank of the Far East in the early days was only 100 million silver thalers, which was relatively small compared to the 200 million real silver coins in circulation plus a large amount of silverware, and the fact that the silver banknotes needed to be exchanged at designated banks further increased the relative scarcity of silver banknotes.

By the end of April, the issuance of silver banknotes was on the right track, and the people's mentality had also taken a 180-degree turn, from initially resisting silver banknotes to worrying that the silver coins in their hands would not be able to be exchanged before they were invalidated, and even more unpleasant to the silverware purchased at home at a high price - since silver coins are no longer legal tender, how long can the value of silverware be strong?

People are generally anxious to exchange the silver in their hands for silver banknotes, because the supply of silver banknotes is in short supply, and the exchange needs to make an appointment to queue up, which is very troublesome. Fortunately, smart people quickly found a shortcut - why do you have to exchange silver money, and it is not a better choice to exchange silver for gold coins? After all, silver money is only a piece of paper, and credit cannot make people completely reassured, compared to gold coins, which appear to be more reliable.

Before you know it, there is a craze for gold in society. As more and more people exchange gold coins, the price of gold rises compared to silver.

Speculators took large sums of silver coins from banks a month ago, intending to make a profit on the black market, but unexpectedly, the government of Kolas announced the issuance of silver banknotes to replace silver coins, and then welcomed the appreciation of gold. The speculators who saw the bad situation had to repay the loan out of the consideration of stop loss, and the banker who was smiling with a knife realized that the nightmare was still to come, and the two additional terms that seemed to be added to the loan were now a noose around their necks, and they had to smash the pot and sell iron to raise gold coins to repay the loan.

In just one month, the price of gold and silver has reversed, as if it is on a roller coaster! The speculative market is full of zero-sum games, some are happy and some are sad, some people fail to speculate on silver and lose their fortunes, and some people profit from the appreciation of gold coins. The Far Eastern Bankers Group, which was "forced" to eat a large amount of gold in this arbitrage wave, had the last laugh, recalling that the promises Roland made to them at the beginning were now fulfilled one by one without discounting, and the bankers' worship of His Royal Highness the Prince was like a surging river......

In the blink of an eye, at the beginning of May, the issuance of silver banknotes was successfully completed. Lyubov Yamabo, who had been following the matter keenly, sent a letter to Katya with a bitter criticism of the currency reform presided over by Roland.

"Roland once told me a parable about the razor, and the fact that the Far East issued silver money was precisely his practice of the 'razor principle'."

"In a general sense, if a group of similar products or services can be divided into three grades, if we have to eliminate one of them, then eliminating the mid-range product is usually the best choice."

"Copper coins are the currency of the poor."

"Silver coins are the currency of the middle class."

"Gold is the currency of the rich."

"Silver coins are in an awkward position in the multi-standard monetary system, and the middle option is the easiest to shave, just as the middle class is the weakest."

"The abolition of silver coins and the issuance of silver banknotes will have little impact on the poor people, who occupy the majority of the population of the Far East, who do not have much silver coin assets, and mainly use copper coins or simply barter, and have little impact on the bulk trade with gold as the main transaction currency, and the value of silver coins is too small for big business, not to mention that the bank bills and even commercial papers issued by various financial institutions in the Far East have the nature of paper money, and the industrialists and businessmen have become accustomed to the settlement of bills, and will not particularly resist the substitution of silver coins with silver banknotes."

"Of course, there are also some people who are overly cautious and have doubts about the creditworthiness of silver banknotes, so they prefer gold coins, which causes the price of gold to rise – which is best for holders of gold assets!"

Finally, Ms. Lyubov ended the letter with a knowingly questioning:

"Then the question is, who is the owner of the largest gold mine in the Far East?"

"Oh? Has the value of my gold mine increased? When Roland read the letter from Baiou Harbor forwarded by Katya, he first drew a circle on his chest, and then said to his deputy governor with a reverent face: "Thank you, my lord, Sindra, what a surprise!" So, after all, good people have good rewards. ”

Katya gave him a fierce roll of the eyes.

"Bullshit surprise! Admit it, you expected this long before the banknote was issued, or to put it more bluntly, it was the impetus for your decision to issue the banknote by increasing the value of the gold mine under your name! ”

Roland was so upset about her conspiracy theories that he read two lines of poetry at the time.

"Knowing that I sin against me is only spring and autumn."

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