Just when speculation was raging in front of the South Study, Xu Rui was starting to push forward the last and most critical step.

The King of Liao thought that handing over the hoarded industrial raw materials to Xu Rui was just admitting defeat in this business war, and when the general trend was gone and he could not compete with Xu Rui at all, he exchanged the raw materials for 100 million taels of silver, and Du Ruo's political future was undoubtedly super cost-effective.

However, when the King of Liao handed over a large number of raw materials to Xu Rui, he didn't know that Xu Rui really got the last piece of cake, plus the hoarding of various commodities in the early stage, the number and variety of goods in Xu Rui's hands were amazing.

From now on, almost all the goods in Changxing City were completely monopolized by Xu Rui, and after the King of Liao ordered the Zhili garrison to block the goods from entering Changxing, Xu Rui became the sole master of the Changxing shopping mall.

On the 17th, when the ministers were all announced by Emperor Hongwei outside the south study, Xu Rui began to quietly sell the materials in his hands.

Due to the terrifying depreciation brought about by the over-issuance of currency, the market was filled with panic, and the merchants who made a large amount of silver tickets from Xu Rui and Liao Wang were also afraid that the silver tickets would continue to depreciate, so that their newly acquired wealth would evaporate in an instant.

As a result, these merchants sold goods with their left hand to earn money, and hoarded Juqi from other channels with their right hand, waiting for prices to continue to soar, and harvested leeks like Xu Rui.

It was the existence of these speculative merchants that caused prices to skyrocket at an even more terrible rate, and at the same time the silver ticket to depreciate at an even more terrifying rate.

And when Xu Rui began to sell a small amount of materials through various channels, these people were like a school of sharks smelling blood, and immediately rushed to buy them.

As soon as the market opened on the 17th, Xu Rui deliberately doubled the price of goods, and after reaching the peak, it was convenient for him to sell materials one after another.

Everything was as he expected, no matter how much Xu Rui threw out, it would be snapped up immediately.

The excess issuance of billions of taels of silver has caused the explosive growth of currency circulation, which has become the biggest driving force for the purchase of goods.

However, the next plot is different from what the merchants imagined.

Unlike Xu Rui in the past few days, as a big dealer, he quickly swept away all the commodities on the market, when Xu Rui monopolized all the commodities and then became a seller, those merchants who took over the market, as well as the people who grabbed the purchase materials, found that the materials that had been in demand suddenly became abundant.

Often the first batch of materials has just been sold, and the second batch of materials will begin to appear again, and the number will be several times that of the previous batch of materials.

For the first time in these days, the price of commodities did not collapse quickly due to the panic in the market and the large amount of over-issued currency that flooded the market.

Many shrewd businessmen began to realize that something was wrong, but when they thought of the trillions of silver tickets in their hands, which were still depreciating, their worries about the market environment were immediately put to the back of their minds.

Anyway, what you have in your hand is money, so why should you care about these two or two?

It is with this mentality that the frantically sweeping merchants once pushed up prices by 30%.

However, more and more commodities thrown into the market gradually hit the confidence of investors through supply and demand, and when Xu Rui released the hoarding materials for the Nth time, the businessmen were shocked to find that the amount of materials this time was dozens of times that of the previous one.

Some merchants immediately noticed that something was wrong and chose to put on the brakes, but many more merchants had already invested too much capital to allow them to stop, because they had put too much on the stakes and bought too many supplies, and once the price collapsed, they would lose all their money.

As a result, the market diverged, the frenzied market began to become indecisive, and most of the gamblers' merchants were still struggling to fight.

As the saying goes, quantitative change causes qualitative change, and when speculators finally sweep the market out with great effort, the next batch of materials reappears, and the quantity is more than double that of the previous batch.

The market confidence that had pushed up prices quickly collapsed, and prices that had skyrocketed for several days finally began to fall for the first time.

The businessmen who had invested a huge amount of money immediately cried and called their mothers, but they had already been tied to the chariot, so they had to grit their teeth and continue to insist.

And a small number of businessmen who still had time to stop, as well as Changxing Baixin, who did not know why, began to wait and see, and the market divergence further expanded.

When the invisible hand that pushed up prices lost the pillar of Xu Rui, the remaining retail investors also had their own thoughts, and their confidence in market supply gradually warmed up, the general trend of supply and demand in the market was finally completely reversed.

When the supply was far greater than the demand, commodity prices began to plummet, falling by 30% in just one hour, causing many pick-ups to suffer heavy losses.

It's like a gambler at the table, when he is crazy about winning and losing money, he always feels that he is on the right side and wants to win more, and when he loses, he is often desperate to get his money.

The speculative businessmen were unwilling to give up the oil and water scraped from Xu Rui and the King of Liao in the past few days, so they had to put their lives on the line and try to make a profit.

Anyway, the price trend in the past few days can't even be understood by those big shopkeepers who have been doing business all their lives, who knows if prices will rise again in a day or two?

So Xu Rui kept throwing goods, and the see-saw of speculative businessmen vomiting blood and sweeping goods continued.

At this time, the Ministry of Commerce and the Imperial Central Bank issued the second decree since its establishment - in view of the recent price hikes by speculative merchants, the value of silver bills has fallen wildly, and the situation affecting the property of the common people has intensified.

The Ministry of Commerce and the Imperial Central Bank decided to jointly save the world, abolishing the circulation of silver bills and issuing Wei coins backed by national credit instead.

One cent is exchanged for one copper plate, ten points are one dime, ten jiao is one yuan, and one yuan Wei coin is just equal to one tael of silver.

The release of this news immediately caused an uproar in the market, but it was nothing more than that, because the previous over-issuance of silver bills had led to a lack of confidence in Wei coins.

There is a widespread fear that the Wei coin will quickly depreciate into the next silver ticket after it was issued, just as the last time the ban on silver circulation was announced and the circulation of silver tickets was changed.

However, the next news made the whole Changxing boil.

The Ministry of Commerce announced that due to the sharp fluctuations in prices and the depreciation of silver bills, the Ministry of Commerce and the Imperial Central Bank would accept the exchange of silver bills for Wei currency, and the exchange ratio would be based on the five silver bills five days ago.

That is to say, no matter how many silver tickets you have in your hand now, the value of these silver tickets is all exchanged in the same proportion as five days ago, when the silver tickets had not yet depreciated rapidly, but one or two silver tickets can only be exchanged for five cents Wei coins.

This time, although the silver ticket is less than half of its value in vain, it was for five days ago, and the current silver ticket has long been worthless, which is undoubtedly another pie-in-the-sky good thing!

The people of Changxing City immediately flocked to the Imperial Central Bank and the Ministry of Commerce to exchange Wei coins, and after the issuance of Wei coins (fiat currency), the circulation problems caused by the lack of market confidence were solved instantly, and the impact of this business war on the people was minimized.

Most people are very happy to have lost and regained, just like if you have 10,000 yuan, if you are robbed, you will definitely be very depressed, but if you have accepted the fact that you have lost 10,000 yuan, and someone gives you 5,000 yuan, you will definitely be doubly happy.

The people of Changxing were played with in this way, and the riots of the people in all corners immediately dissipated invisibly.

At the same time, with the public opinion inducement of "Changxing Daily", the people of Changxing were grateful to the Ministry of Commerce and Xu Rui himself, and the newly established Ministry of Commerce left a deep impression in people's hearts, and even established a huge prestige and influence.

In this way, Xu Rui not only won the business war with the Liaowang Group, but also made the newly established Ministry of Commerce gain a firm foothold, and then quietly replaced gold and silver with fiat currency, and smoothly promoted the decoupling of paper money from the silver standard, pushing the currency circulation system of the Great Wei Dynasty forward for thousands of years and directly entering the modern monetary system.

This operation basically completed the initial transformation of the financial system of Dawei as envisioned by Xu Rui, and cleared the last obstacle to commercial and industrial development.

Of course, Xu Rui also paid a great price for doing all this, for example, money does not come out of thin air, and someone needs to pay for the billions of taels of silver that are overissued, and this price alone is something that even the Galaxy Group, which has made a lot of money, cannot afford to pay.

Although Xu Rui solved a difficult problem, the problem was far from being settled, just when he drafted the fold and sent it to the south study to comfort Emperor Hongwei, Xu Rui was also sharpening his knife and aimed at the poor pig and sheep.