Compared with the people of Changxing City, the speculative merchants, who were the main force with silver tickets, were not so lucky.

Because the large amount of silver tickets in their hands had just been used to sweep the goods, they could not exchange them for Wei coins at all.

What's worse for them is that because the people are waiting to exchange the silver tickets for Wei coins, and the people who have already exchanged Wei coins cherish the lost property and are unwilling to use it to buy goods that have been declining.

As a result, the money in the market immediately changed from a huge amount of circulation in economics to a shortage of circulation, the demand market almost disappeared, and the price of commodities could no longer hold back, and began to dive high.

By the evening of the 17th, in just one day, prices had fallen from their peak, several times faster than when they had risen wildly, and this was only the beginning.

From the 17th, the prices in Changxing City fluctuated violently again, forming a crazy plunge for ten days, especially Xu Rui's hoarding of the most grain and industrial raw materials, even only one-fifth of what prices were before the price skyrocketed.

In fact, as early as the 17th, Xu Rui sold out eighty percent of the goods he had hoarded, but he used the remaining twenty percent of the goods to continuously throw more materials to the market.

When prices rise all the way, the market is confident, and there are naturally many people chasing high, and when the price falls all the way, everyone is afraid of being a pick-up man, so no one dares to buy it anymore.

Xu Rui used the most simple truth in economics to use the last two percent of the materials as bargaining chips, constantly releasing signals of sufficient supply, and pulling down prices all the way.

Those profiteers who speculated and were ready to take advantage of the opportunity to make a lot of money were deeply trapped by Xu Rui's operation similar to stock management.

Seeing that the silver tickets that were like waste paper before have become hard currency, and those goods that were originally hard pass are becoming waste, a large number of profiteers are anxious to beg grandpa to sue grandma.

But after seeing Xu Rui's methods, the magnates in Changxing City, including the King of Liao, only dared to howl behind their backs, talk small, or go to Emperor Hongwei to complain about the pain, but no one dared to stand up against Xu Rui.

At least in the field of economy, the entire Great Wei was subdued by Xu Rui.

Everyone knows that even a person with a big career like King Liao would lose half of his life to Xu Rui, and even if Xu Rui hadn't released the water, this prison might have planted a big heel.

No one wants to be like King Liao, and end up bankrupt.

On Xu Rui's side, by selling materials at the highest point, Galaxy Group Rui not only immediately repaid the billions of dollars lent to the Imperial Central Bank, but also after the central bank announced the exchange of fiat currency, there were still enough silver tickets to exchange for Wei coins.

When the prices in Changxing City fell to the bottom, Xu Rui used the Wei coins in his hand to buy goods in the hands of speculative merchants.

At this time, speculators were worried about the large number of commodities in their hands, fearing that they would lose even more if prices fell further.

Because he was afraid that prices would fluctuate violently again, Xu Rui was very patient in purchasing materials this time, and only bought a little bit every day, slowly pulling prices back to normal levels.

In this process, "Changxing Daily" once again played a key role, and they cooperated with Xu Rui's actions to constantly guide public opinion and control the rhythm.

After the business war, "Changxing Daily" even opened an economic column, when Xu Rui needed a panic in the market, they released panic information, and when Xu Rui needed the market to return to stability, they used public opinion to help the market stabilize again.

Through two waves of sales, selling at the high point and buying at the low, a large number of commodities returned to Xu Rui, who not only regained control of the large amount of industrial raw materials that Galaxy Group urgently needed, but also passed on the loss of over-issued currency to speculative merchants.

After winning the business war with the Liao King, Xu Rui needs to face three thorny problems, one is to ease prices as soon as possible, the second is to restore the public's confidence in the market, and the third is to solve the financial damage caused by the over-issuance of currency.

Although the first two problems are difficult, they are easy to solve for Xu Rui, but the last one, it is true that the over-issued currency harvested leeks, but it is difficult to spit out the money again.

In order to calm the grievances of the people of Changxing as soon as possible, the central bank of the empire adopted a very loose exchange ratio, and a large part of the huge profits brought by the over-issuance of currency were exchanged to the people of Changxing as the exchange ratio of Wei currency taken from the people and returned to the people.

But the problem is that there is only so much cash in the Imperial Central Bank, and the over-issuance of silver bills has multiplied the silver bills in the hands of the people of Changxing countless times, if it is really exchanged for Wei coins that exceed the reserve by too much, then Wei coins will soon become waste paper like silver tickets.

In order to solve this problem, Xu Rui used a small means, that is, limited exchange.

That is, on the grounds that Wei coins are not printed enough, only a certain number of Wei coins are exchanged every day, but it is promised that no matter what time it is, the silver tickets can be exchanged for Wei coins.

In this way, Xu Rui made a time difference, which not only temporarily stabilized the people's hearts, but also further reduced currency circulation and lowered prices.

After that, Xu Rui made huge profits by buying and selling materials twice, and then used these profits to cooperate with the leeks cut by the central bank's previous over-issuance of currency, which slowly smoothed out the deficit caused by the over-issuance of currency.

To put it bluntly, the exchange ratio between Wei coins and cash silver at the time of issuance was 1:1, but the ratio of convertible silver tickets was 1:0.5.

When Xu Rui concentrated most of the over-issued silver tickets into his own hands by selling materials, it was equivalent to half of the world's money being harvested into his pocket as leeks.

At this time, as long as he is willing to take the money out of his pocket and return it to the Imperial Central Bank, then the Imperial Central Bank can erase the deficit of over-issued currency.

And also because half of the world's money has been harvested as leeks, so after deducting the exchange concessions to the people of Changxing, there are still astronomical inputs that can make the two major dealers of the Imperial Bank and Galaxy Group eat until they break their bellies.

All that is required is a few turnaround processes and time.

After the calculation, after this wave of financial operations, Xu Rui completed a thorough redistribution of social wealth, and ordinary people actually profited from it, and many people even became local wealth owners in one fell swoop because they held too many silver tickets and exchanged for fiat currency.

The Imperial Central Bank and the Galaxy Group even grabbed 200 million Wei yuan, which is equivalent to a terrible income of 200 million taels of silver.

30% of this was divided by the Galaxy Group, and the remaining 60% went to the treasury, and at the same time, the Imperial Central Bank had the leverage ability of market regulation for the first time due to the issuance of fiat currency, making the originally disorderly economic development controllable.

The only losers who really paid for the redistribution of wealth were the Liaowang Group and the speculative businessmen, who first put Xu Rui and Liaowang's money into their own pockets by raising prices, and finally returned all the money to Xu Rui because of insatiable greed.

After this incident, nine of the ten commercial banks in Changxing City went bankrupt, and the original wealthy businessmen and shopkeepers abound on the streets.

When wealth moves from the inherently conservative businessmen to the new rich, the new rich are able to keep up with social and technological developments more quickly because they have no past baggage.

Moreover, the redistribution of wealth caused by this commercial war was so tragic that people had a great fear of mere trade speculation.

In contrast, Galaxy Group, which has the business card of industry, has made a lot of money, which has virtually established the impression that the industry has a stronger ability to resist risks.

As a result, a large amount of money was invested in industry, and new factories sprung up like mushrooms after a rain, and Dawei entered the real industrial age.

Of course, these are all afterwords, and the time goes back to the seventeenth.

Emperor Hongwei lay on the soft chair in the south study and read Xu Rui's prediction of all this, and after a long time put it down, and opened his mouth to Wang Shun.

"The fourth child has found a good backer, you go and let the fourth child in."

Wang Shun nodded and walked towards the door.

Emperor Hongwei gently patted Xu Rui's notebook, his face cloudy.