Since he wanted to take advantage of the opportunity to do something, Duschild naturally wanted to appoint a trustworthy person to investigate the Royal Bank of Newsal. It stands to reason that Royal Bank's business model should not be fundamentally at risk of "failing to do well".

After all, the core of the whole Royal Bank's business is the money broker, they do not accept customer deposits, but lend the funds entrusted by customers to themselves at a specific interest rate to the capital demander. With no own funds and no large-scale savings, the Royal Bank is a rudimentary business, but it wants to lose money...... It's still very difficult.

What kind of frenzied methods did these insects use to make a bank with the right to issue coins what it is now?

Dussaint carefully commissioned two independent accounting firms to investigate, and in order to ensure that the investigation did not startle the investigation by surprise, he even involved Aika in the investigation of these accounting firms, which did not have direct contact with the bankers, and they did not know what they were investigating. All the information they need will be "obtained" by Aika's people, and then delivered.

Such a rigorous, double-blind approach would certainly minimize the risk of detection of the investigation, but ...... Dussander still overestimated the wisdom of these great minds of the Royal Bank.

The ledger obtained by Aika was detailed, and the Royal Bank had no intention of concealing his actions at all. Everything is on the bright side, above board to the point of confusion.

"These people...... It's simply fearless. Only three days into the investigation, Dussander looked at the four-inch-tall report in front of him and let out a sigh of emotion.

These reports are only part of the preliminary audit of Newsall Royal Bank by two accounting firms – they have not had time to dig deeper into the information and have not made a further assessment of it through the records of the transactions of funds. In other words, the two accounting firms were able to find so many non-compliant operations just by relying on the superficial contents of the incomplete ledger that Aika had obtained.

This "partial result" has not yet had time for Dusand to take a closer look, but the responsible accounting directors of the two accounting firms have already protested to Dussand. The protest was laughable, and the two directors had the following words: "If Aika doesn't trust my expertise, you can go to another accounting firm to audit it – don't 'test' us with this ridiculous, obviously wrong ledger everywhere." ”

All in all, it is easy to understand how the bank, which has the right to issue coins, has come to this point in the records of the Royal Bank's "sincerity".

Twenty-seven years ago, Newsal Royal Bank embarked on a very "forward-looking" business, using its own funds to provide financing services to the demand side of the capital.

Of course, such a business will naturally appear in the world - after all, in human society, there are always more people who lack money than those who have more money and have nowhere to spend. If banks only carry out financial brokering business, there will inevitably be a situation where many "high-quality customers" will not be able to raise funds at all.

In that case, why not use your own funds for financing business? The bank manager, who had come up with the idea twenty-seven years earlier, was surprisingly bold enough to use the three 150,000 gold pounds he had received in advance to purchase the Empire's war bonds for a short-term financing operation that lasted for two months.

Two months later, the principal amount of 150,000 gold pounds was successfully recovered, and the manager received 3,200 gold pounds in interest and 280 gold pounds in service fees.

The business quickly became a sought-after item at the Royal Bank of Newsard, where a few thousand gold pounds could be paid within a few months for a sum of cash with no interest or very low interest payments.

The Royal Bank of Newsar, which did not take deposits from the public, had a limited amount of its own funds, so they first focused on war bonds, which had the effect of statutory compulsory purchases.

The Royal Bank of Newsal, through its own minting department, printed and issued several war bonds, which were then forcibly distributed to numerous departments and factories in Newsall.

Of course, even if they gave a hundred more daring to the wise men of the Royal Bank of Newsal, they would not dare to take the money collected by the war debt.

The issuance of war bonds will be followed by an "issuance period" of about half a year. As long as the funds are transferred to Olin after the end of this issuance period, it is not a "private bond" – it is an early issuance, and it is still a positive action that can be recognized.

Other banks do not do this, mainly because the apportionment of public debt will lead to a significant reduction in the cash in the hands of customers, and when the cash is reduced, customers will naturally be less willing to put their own funds in the bank. To put it bluntly, the reason why they don't do much early issuance is to protect their own interests.

But the Royal Bank of Newsall has developed an "unenvisioned" path in which they repeatedly cash out the issuance of government bonds, and then use the funds collected from the bonds during the issuance period to lend them for interest and service fees.

After seven or eight years of playing this way, bankers, accustomed to large profits, are once again ready to move. They quickly turned their attention to their own coin-issuing rights – why bother issuing bonds in advance when we can print money ourselves?

Soon, the Royal Bank of Newsal began the imperial version of quantitative easing. They directly produced large quantities of gold pounds, and then invested these "out of thin air" funds into the loan and government bond markets.

A large amount of capital is pouring into the market, which can of course greatly meet the demand for loans and allow more funds to enter the real economy. However, the precondition is that the interest rate of funds must be lower than the net interest rate of the real economy industry, and it is also necessary to ensure that in the process of building the real economy, banks will not suddenly withdraw loans.

Under the previous Nyusar financial system, it was impossible for small and medium-sized enterprises to be eligible for loans. On the one hand, they do not have the ability to repay loans, and on the other hand, they lack sufficiently high net profit margins and stable prospects. As a result, only large corporations can get loans from the banking system in Newsal.

However, after Newsal Royal Bank began to have a large amount of its own funds, the loan needs of small and medium-sized enterprises also entered their field of vision. No matter how small the mosquito legs are, they are still meat, not to mention that the scale of small and medium-sized enterprises in Newsar is not small. If this market can be developed, the profits will be very considerable.

In an effort to stimulate the market, Newsard has even begun to relax loan audit conditions, allowing loans to be issued quickly as long as more than two guarantees can be found. In order to prevent some of these small and medium-sized enterprises from having difficulty repaying their loans, the Royal Bank has deliberately raised the comprehensive loan interest rate. This way, as long as the number of businesses that go bankrupt and are unable to repay their loans does not exceed one-third of the total, their funds are still safe.

However, the ideal is plump, but the reality is outrageous. The small and medium-sized enterprises that come to borrow seem to have good prospects, but in fact...... There is basically only one type of person who comes to take out loans.

Gangsters who are engaged in loan sharking in Newsal.

These gangsters have organized a large number of small and medium-sized enterprises to come and take out loans, using the enterprises they control, or simply by means of threats and extortion. After obtaining the loan, they split the entire loan into fractional amounts and lend them to gamblers, drunkards, and other individuals who need money urgently.

That's how Lord Harold got his start.

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Due to the lack of regulation and the excessive demand for "lending", a large amount of its own funds were tied up and turned into bad debts, and the scale was so large that it quickly appropriated more than 90% of the funds of the Royal Bank of Newsal. At the time of the discovery of this by the Royal Bank of Newsal...... The whole Newsal up and down the old guys have borrowed about seventy-nine million gold pounds from the Royal Bank of Newsal.

About 20,000,000,000 gold pounds were the "own funds" of the Royal Bank of Newsall, while the remaining 59,000,000,000 gold pounds belonged to the nobles and big business owners of Newsal.

At that moment, Newsall Royal Bank was effectively bankrupt. But they still wanted to struggle, so they ...... They put the idea on the right to minage.

It is impossible to print 59 million gold pounds in one sitting. The mint of the Royal Bank of Newsard had a printing limit of about eight million gold pounds per month. The monthly minting tasks issued by the Colonial Office ranged from three million to six million gold pounds.

Until they can scrape together enough cash, Newsal Royal Bank will have to defer repayments by various methods and means. So they started asking lenders again and again to roll over their repayments, and they kept raising interest rates to get there.

Now, the principal of the 59 million gold pounds has not been repaid, and the annualized rate of return has soared to an astonishing 37%.

And the Royal Bank of Newsart has been completely ruined. By virtue of their coin issuing house privileges, they are constantly blackmailing the Colonial Hall of Newsar - if you don't save me, I'll die for you. After death, he can also collapse the economy of the entire colony by the way, and by the way, leave a group of angry nobles who have been borrowed close to 60 million gold pounds.

Despite this, the Royal Bank has been indirectly responsible for Newsar's rapid economic growth over the past 27 years. Of course, the central bank's large-scale release of water has fattened many gangsters who specialize in private lending, but they have indeed increased the money supply in the market while lending usury. Due to the close ties between Newsal and the entire imperial colonial system, the more than 600,000,000,000,000 gold pounds that the Royal Bank of Newsal continued to send out in twenty-seven years did not even cause fluctuations in the entire imperial financial system.

More Newsal civilians were given loans, and they began to have access to the opportunity to build their own estates, even if four-fifths of it went to the gangs that lent money. And as these civilians gradually succeeded, Newsar's economy became active.

But now...... It's time to pay the bill.

Dussaint sat in his office, looking at the mess in front of him, his face like ashes.