The happier the orc empire is, the more peaceful the Near East becomes. The great nobles, who originally did not have much confidence in the Near East development plan, couldn't help but raise their bets when they saw the outbreak of civil war in the Orc Empire.

For a while, the Crescent Harbor became more and more prosperous, and there was an endless stream of ships coming in and out every day.

Although it is exempt from the transit tax, the large flow of people still brings countless wealth to Xueyueling. In other places, it is still a loss of capital, but the Crescent Port has achieved a balance of payments.

Excluding monopoly trading under the Ministry of Commerce, the daily commercial taxes and rents alone cover administrative costs, and even surpluses.

Without a doubt, this is a good start. This year's shop rent is charged symbolically, with the current flow of people, next year's rental income will not increase to zero, and we are sorry for this passenger flow.

With the passage of time and the further development of the Near East, the passenger flow of the Crescent Port will continue to increase.

At that time, commercial taxes and rental income will rise with the tide, and they will have the ability to feed back the territory.

The good news is that there's more to it than that. The orc empire is smoking, and even the smuggling trade has become more and more prosperous.

The price of all the goods that can be related to the war is rising, and basically the orcs buy as much as the smugglers have in their hands.

If you don't have enough cash to pay, you pay off your debts with slaves and livestock. Since the flames of war were ignited, the number of livestock and slaves pouring into Xueyueling has skyrocketed fivefold.

The sequelae of the sharp increase in quantity is the rapid decline in prices, and if it were not for the Lord's Mansion to open the purchase at the reserve price, it is estimated that the market would be ruined.

Looking at the boatload of slaves, Hudson was very suspicious that the orcs were packing the tribe to sell him. Originally, it was only a few weak races that would become slaves, but now it has expanded. Including the four royal families, almost all orc races can be found in Crescent Harbor.

The slave traders were human spirits and knew what their customers needed, and after the slaves were sent to the Crescent Harbor, they were first screened and sorted.

High-quality slaves were sold to nobles, entertainment venues, and the Colosseum, and the rest were packaged and sold to Lord Hudson.

As long as the price is cheap and there is a lot of strength, you don't need to ask so much for the rest.

Generally speaking, the more good-looking the slave, the higher the transaction price.

The only exception is the orc royal family, regardless of their appearance, this identity alone doubles their value.

The most typical is the Beamon family, when they used to be royalty, any Beamon started with three digits, and now it has fallen to double digits.

Hudson didn't bother to care about that, as long as he paid his taxes properly. If it weren't for the contributions of the smugglers, Port Crescent would not have been able to make a profit so quickly.

The influx of orc slaves has made up for the labor gap in the Snow Moon Territory. Many planned infrastructure projects are scheduled in advance.

The original strategy of gaining a firm foothold in the first five years and then seeking development has obviously not kept pace with the changes in the situation, and it must be systematically adjusted.

The main thing is that the orcs are fighting among themselves, Hudson just came up with an idea, and the rest of the things are all done by the orcs themselves.

The contradictions accumulated in the past are too deep, the orcs have been ruling for a long time, and the royal family is too arrogant, and the problems that could have been solved by political means have finally evolved into armed conflicts.

Although the two sides were deliberately suppressing and no full-scale civil war broke out, the local conflict never stopped. If it weren't for the fierce infighting of the orcs, the Snow Moon Leader would not have been able to accept so many slaves.

Not only was Hudson making extensive use of orc slaves, but the nobility of the Near East was following suit. Even some lords in the northern Xinjiang region who lacked population also joined in the excitement.

Judging from the statistics of the tax department, the total number of orc slaves sold to the kingdom has reached nearly 180,000, and half of them have remained in the Snow Moon Territory. Again, this is just a statistic, and the actual number is only a lot more. After all, the slave trade also has to pay taxes, and no matter how low the tax rate is, it is money.

Hudson would not be naïve enough to think that these undisciplined slave traders would honestly pay their taxes in full.

They didn't follow up on it in depth, and that's because what they're doing now is still within tolerance. The Snow Moon Leader needs more orc slaves to do coolies, and it can't dampen their motivation.

Profiteering is the source of power, and every time a slave is brought back, the kingdom will increase its labor force, and the orc empire will be weakened by one point.

Under one increase and one subtraction, it is double happiness. There is no waste of strategic materials sold in the past, and they will all be consumed in the internal fighting of the orcs.

If it weren't for the fear of interfering too much, leaving clues and arousing the vigilance of the orcs, Hudson would have wanted to provoke the conflict himself.

In fact, similar actions have existed for a long time. When Bear Stearns went out for a walk, he often hung flagpoles from different races of orcs on each other.

Many races that already have contradictions don't even bother to investigate, so they just do it.

This situation continued until the two camps were opposed, and then slowly stopped. Muddy waters are good for fishing, and the situation is clear but not suitable for too many actions.

If the orcs found out about the problem, it would be troublesome to set themselves on fire, and Hudson didn't want to become their common enemy, thus easing the internal strife in the orc empire.

Changes in the situation have a direct impact on the judgment of all parties. At the cost of the Bank's dwindling cash flow, Hudson has injected capital several times to make up for the bank's liquidity.

Not only did he get into the vault, but even the vaults of Bear Stearns and Maxim were fooled out by him.

Unlike other customers' savings, Maxim and Bear Stearns' money are subject to interest, and the interest rate is the same as that of the bank's external lending.

With such efforts to pull in deposits, the total amount of money in the vault of the Development Bank of the Near East is more than 4 million gold coins, and the loans released have reached more than 18 million.

Having seen the high leverage ratio in his previous life, Hudson could accept it, but Rudolph, the governor, was almost scared to tears.

With such a huge amount of financial leverage, if something goes wrong, everyone may not be able to do anything with Hudson, but he will definitely die an ugly death as a bank manager.

Being able to leave so much cash is not only leveraged, but also due to the issuance of golden tickets.

Under the crisis of money shortage, Hudson took the regular gold notes of the Development Bank of the Near East and continued to buy and buy in the southeastern provinces.

Although the nobles have no love for the golden ticket, it is indeed more convenient than bartering, and with Hudson's credibility as a guarantee, everyone can reluctantly accept it.

After buying, it's time to sell, sell, sell.

The goods were delivered to the people who needed them, and after a toss, a large number of golden tickets flowed back into Hudson's hands.

did not take advantage of the fire to rob, this wave of hard money, some goods because of unsatisfactory sales, and even losses.

After spending a lot of effort for more than two months, the transaction volume was millions, and the last profit was only a bunch of commodities smashed in his hand.

Fortunately, the gold tickets used are all printed by home, and if you calculate the cost of capital, this is a bloody transaction.

Purely from the perspective of income, this wave of operations is purely charity.

The only effect was to raise the popularity of the golden stamps, and let the nobles of the southeastern provinces know that the golden stamps of the Development Bank of the Near East could be traded.

Unfortunately, Hudson's talent is limited, and the promotion activities are limited to the southeastern provinces, otherwise this wave of operations alone could double the valuation of the Development Bank of the Near East.

Ordinary people don't know the meaning of the golden ticket, but they have had similar operations with major chambers of commerce, but they are very aware of the hidden profits.

The main reason why it has not been able to spread is that the resistance from the outside world is too great. The conservative aristocracy did not believe that a piece of paper could replace money at all.

Even with the endorsement of a powerful figure like Hudson, being in his own lair can only make the nobles half-convinced, let alone expand to the outside world.

Taking the first step is always the hardest. After Hudson's constant tossing, the Near East Development Bank's golden ticket finally gained some fame.

If you want to promote it across the country, there is still a long way to go. However, in the southeastern provinces and the Near East, there is already a certain degree of recognition.

With the beautiful performance statement in hand, the second financing meeting of the Development Bank of the Near East was once again held on the lake of Xueyue.

Different from the last chamber of commerce representatives, the guests who attended the meeting this time were much heavier.

Either the core children of the big nobles, or the big chamber of commerce are in charge, and it can be seen that everyone attaches great importance to this meeting.

As a bank manager, Rudolph wrote about the achievements of the Development Bank of the Near East.

Although the ability to fool is still lacking, the dazzling data cannot deceive people.

Judging from the incredulous expressions of the investors, Hudson knew that today's fundraising meeting was more than half successful.

"Baron Rudolph, the development of the Near East Development Bank is indeed very good, but in terms of risk control, you are not doing a good job.

According to the report data, one-third of your loan customers are in the Near East.

The stakes of these businesses are too high, and once the orcs invade, they may lose their money at any time.

Has management considered shrinking or even abandoning the Near East business to focus on other parts of the Northern Continent in order to improve the bank's resilience?"

The purple-clothed man's question made Rudolph stunned slightly, and then replied:

"Viscount Lauren, that's not how the accounts are calculated!

Purely economically, lending in the Near East is indeed a high-risk business, but this risk is not uncontrollable.

In fact, we also expanded our business in the Near East after the outbreak of the Orc Civil War.

Even if the threat of orcs remains, it will be in the future, and at least for a few years, there will not be much risk in the Near East.

With the exception of the risks associated with issuing loans, our other businesses in the Near East are all profitable.

Everyone knows that the special situation in the Near East has led to a particularly developed commercial trade in the region, and there is often a commodity trade.

More than 90% of commodities in the Near East are now traded using our bank's golden bills, and business travelers are accustomed to depositing cash in their banks.

These businesses alone are able to generate profits of hundreds of thousands of gold coins every year.

The interest on the loan issued is also settled on a monthly basis.

Taking into account all the business pull-through calculations, as long as the Near East can be stable for five years, we will recover all the investment.

Even if the follow-up loan becomes a bad debt, we will not lose money.

In the case of the Orc Empire, everyone wouldn't think that they would be able to wage a full-scale war in just five years, right?

Moreover, these high-risk businesses are also the foundation of the Development Bank.

Investing is not only about the economy, but also about politics.

If the banks cannot finance the development of the Near East, why should the Kingdom support us?

From the establishment of the Development Bank of the Near East to the present, the kingdom has not levied a penny of taxes, and there are no restrictions, which are our return on investment.

Among the guests present were representatives of several chambers of commerce in the Kingdom, and if you have any doubts, you can check with them."

There are so many reasons to invest in "politics". If the Development Bank of the Near East wants to expand externally, it cannot do without the support of the Kingdom.

Theoretically, with the strong support of the Alpha Kingdom, the Development Bank of the Near East is well positioned to expand its operations into all Terran-controlled areas of the Northern Continent.

Compared to this vast market, the investment in the Near East is not worth mentioning at all.

If you lose money, you should think of it as an expansion expenditure. Banks with exclusive monopolies are still afraid that they will not be able to make money back on these investments?

What's more, the loan is not a full loss, and the bank is recovering the interest every month. If the Near East had been peaceful for a few more years, perhaps the cost would have paid for itself.

However, all this is premised on the fact that lending in the Near East does not expand. If it continues to expand, the risk will be uncontrollable.

"Baron Rudolph, we can understand the politics of investment, and at a certain cost, I think everyone can accept it.

But everything must be done in moderation and how to receive

To find a balance between benefits and investment, there must be a scale.

Of course, your bank's mortgage guarantee system is still very good, which can minimize risks.

But is this profit statement too exaggerated?

According to the above data, you don't have to do anything, and you will have millions of gold coins in the next year?"

Viscount Lauren questioned again.

Seeing this scene, Rudolph instantly felt a lot more relieved. If you are not interested in the Development Bank of the Near East, why take it so seriously?

Viscount Lauren is one of the leaders of the big *** chamber of commerce, as long as he is convinced, today's investment meeting will not collapse.

"You don't have to worry, the accounts are all traceable. I am able to assure with family glory that all the data is true.

If the investment is successfully completed, we can also sign a magic contract. If you're not sure, you can also provide your own magic contracts.

Compared with these detailed problems, in fact, you can first estimate the value of the Development Bank of the Near East.

I think that everyone who came here today not only wants to invest, but also wants to learn from the operating model of the Development Bank of the Near East.

It is not easy to find a profitable business, and it is even more rare to see this kind of stable and profitable profiteering business.

If you miss it, I'm afraid you will regret it for the rest of your life.

The most valuable thing for the Development Bank of the Near East right now is its business model. Therefore, when valuing, please carefully consider the premium of this part.

Once the cooperation is reached, you, as a shareholder, can send someone to watch the day-to-day operation of the bank.

Rudolph pretended to be calm.

In the face of so many big names, if Hudson hadn't been sitting next to him, he would have panicked a long time ago.

However, as a bank president, there are some things that he still has to face on his own. Hudson was able to fool these people around, and he had already done the job.

When it comes to specific investments, you definitely have to consider the factors of management. After all, no matter how good a business model is, it also needs people to operate and manage it.

If the management collapses, the profiteering industry of monopoly operation can also be used to lose money.

In the eyes of the outside world, the current Near East Development Bank's profits are too high, but the premise of all this is - monopoly.

The Alpha Kingdom cannot have only such a bank forever, and there will inevitably be competitors in the future. Once any industry is involuted, profits will decline sharply.

Tax exemption is also unsustainable. Once the bank's operating model is clear, the kingdom can enact the corresponding tax laws.

However, these issues are clearly blurred today. "Development of the Near East" is a good slogan, and I don't know if it's an agreement between Hudson and the kingdom.

Sadly, this was just a tacit understanding between Hudson and the royal government. The Development Bank of the Near East addresses the funding gap in the Near East Strategy, and the Kingdom supports the development of the bank.

When the development strategy for the Near East is completed, or if the kingdom declares its strategic failure, the good days of the Development Bank will be over.

Since its birth, the profiteering industry of banking has been destined to be unable to stop latecomers.

Even if Hudson pulls more people into the car, there will still be people in the future who will jump out and work alone because they are not satisfied with the benefits they have in hand.

Looking at everyone's embarrassed expressions, Hudson knew that everyone was stumped. The valuation of emerging industries is the most difficult, there is no reference, it is completely based on feelings.

The peculiarity of banks is destined not to be valued with assets. In fact, the Development Bank of the Near East does not have much assets in its hands.

Even if Hudson continues to increase the cost, the upfront investment is only a little. The profit is high, even if you are making money with other people's money.

In the later period, he injected capital into the bank, which was in the form of deposits, and Hudson did not stupidly take his own money to increase the bank's capital.

"If you're struggling, put the valuation numbers on paper. Tom took pen and paper and handed them out.

The amount of financing this time is not large, a total of six million gold coins, if it is taken out

If it's divided, it's not interesting.

What's more, the introduction of too many shareholders is not conducive to the operation and management of the bank.

To be fair, I also set a valuation for the Development Bank of the Near East. Anything above this can move on to the next round of negotiations.

As soon as Hudson's words landed, everyone wanted to greet his family. The huge financing of six million gold coins is actually not a large amount!

Looking at the entire Aslant continent, which project dares to open such a lion's mouth?

You must know that the annual financial income of the Alpha Kingdom is only more than 10 million gold coins. Although the feudal lord system did have some tax collection capacity, this is still a huge amount.

However, complaining in the depths of my heart does not stop everyone's determination to participate. For no other reason, the profits of the Development Bank of the Near East are there.

Master Hudson dared to sign a magic contract with everyone to ensure that the profit data was true, so it became reasonable to raise six million gold coins.

In fact, from the expressions of the people, the gap between the rich and the poor can also be seen.

The representatives from the kingdom were stunned one by one, and they knew at a glance that their pockets were not rich.

Although the representatives of the chamber of commerce in the central continent were also a little shocked, they were still thinking more about how much valuation should be given.

Several representatives of the Southern Continent are the most calm, not all countries are as poor as the Alpha Kingdom. The poorest kingdom in the Southern Continent has more than twice as much revenue as the Alpha Kingdom.

The strong are always strong, and the wealth is concentrated in the prosperous area. The southern continent, which is the most economically developed, has gathered the most wealth in the whole continent.

The same six million gold coins, the value in the Southern Continent is far less amazing than that in the Northern Continent.

What's more, this is not a single family, but it is divided by many forces present, and it is only hundreds of thousands of dollars to be distributed to each family.

Now what they need to consider is what kind of valuation to give in order to ensure that they do not suffer losses without being eliminated.