At the same time, in Xuzhou.

The civil and military generals and the princes of Qin have dispersed very interestingly, and even if they want to report their work, they will have to wait for tomorrow, because today His Royal Highness the Crown Prince and the Crown Princess must have some affairs to report to the Holy Lord.

In fact, Zhu Cihong and Kang Xi do have important affairs to report.

"Let's talk about it." Chongzhen stretched his legs comfortably and asked, "Is the business of the Royal Silver Horn good?" ”

"Back to my father, the business of the royal silver number is not only good, it is simply too good to be frightened." Zhu Cihong said with a trace of bitterness on his face, "It makes people panic in the bottom of their hearts." ”

"It's not productive." Chongzhen didn't have a good breath and said, "Why are you panicking when business is good?" ”

Kang Xi said: "Although the business of the silver number is good, it does not make money, but loses money. ”

Chongzhen said: "You mean that there are more people who deposit silver, less people who borrow silver, and there is no money in exchange, and the profits earned are not enough to cover expenses, right?" ”

"That's right." Kang Xi said, "My daughter-in-law has reduced the interest on the silver deposit to the minimum, but there are still more and more people who come to the royal silver account to deposit silver, and they can't stop it." ”

"And that kind of thing?" Chongzhen was a little surprised.

Kang Xi said: "The main thing is that the bond trading of the market is becoming more and more popular, and if you want to trade in the market, you must open an account in the royal silver account and deposit silver, which leads to more and more people who come to the royal silver account to deposit silver, yesterday when the daughter-in-law went to the Xuzhou branch to inspect, the Xuzhou branch has just received the notice of the general number, as of the Lantern Festival, the total number together with the total number of three branches has exceeded 100,000! ”

"What, that's more than 100,000?" Chongzhen was even more surprised.

In his impression, the development of the ticket number of the Jin merchant in another time and space seemed to be quite difficult.

But in this time and space, the business of the Daming Royal Silver is simply developing at the speed of light.

Royal Silver really started business in early August last year, and now it is only five months to be full, less than half a year, and the business has expanded to Hangzhou, Suzhou and Xuzhou, not to mention, depositors have exceeded 100,000 people, by the way, I don't know how much the total savings have reached?

At that moment, Chongzhen asked: "How much silver is there for the total plus semicolon?" ”

It was Kang Xi who replied: "It has exceeded 250 million taels of silver, and the total amount continues to rise wildly, and it is very likely to exceed 300 million taels next month!" ”

"Ahh Chongzhen was no longer an accident now, but a surprise.

Is the silver deposit of the Royal Silver Horn actually more than 250 million taels?

Although this is only a deposit of silver, it is still essentially owned by the depositor who deposited the silver.

But even sixty percent of the reserves according to the highest standard also meant that Chongzhen could mobilize at least 100 million taels of silver, which was simply unimaginable a year ago.

Just a year ago, Chongzhen couldn't even get together 200,000 taels of silver.

But after careful analysis, Chongzhen understood what was going on?

The reason why the storage business of the Royal Silver is so hot is not that the Daming Royal Silver is really so attractive, but entirely because the Shiyi Exchange has forcibly tied the bond transaction with the Royal Silver Account.

If there were no bundled bond transactions, I am afraid that even Kang Million's related households would occasionally come to take care of the business of the Royal Silver Horn, and the other gentlemen would rather hide the silver in the cellar and accumulate ash than use it to deposit it in the Royal Silver Horn.

The reason is also very simple, the Chinese have always paid attention to wealth and do not reveal it, especially not to let the emperor's family know that the Wanguan family wealth of their own family is deposited in the royal silver number, is it looking forward to being destroyed by the emperor?

However, the forcible binding of the Shiyi Exchange changed the logic of this behavior, and first the salt merchants, Hui merchants, Zhejiang merchants, Fujian merchants and Cantonese merchants deposited large sums of full-colored silver in the royal silver account in order to drink the first soup of bond trading.

Then the actions of these giant businessmen had a demonstration effect, inducing the wealthy and noble to follow up.

Wealthy families like the Xu family of Wei Guogong, the Zhu family of Baoguo Gong, and the sincerity Bokong family were originally still a little worried, but when they saw those giant businessmen depositing millions of taels into the royal silver account at every turn, they couldn't sit still, because the benefits of bond trading can be seen by blind people, and the cheap can't be taken advantage of by businessmen!

As a result, these wealthy nobles also followed suit.

The active participation of giant businessmen and wealthy nobles,

It also has a demonstration effect on the medium-sized gentry and businessmen with a net worth of tens of thousands of taels.

When the medium-sized gentlemen and businessmen follow up one after another, and let the ordinary gentlemen and businessmen with a net worth of thousands of taels have a herd mentality, these gentlemen and businessmen will think in their hearts, even these giant businessmen with a net worth of millions of taels, wealthy nobles with a net worth of hundreds of thousands of taels and gentlemen with a net worth of tens of thousands of taels are not afraid, what are we afraid of?

I don't believe that the emperor dares to blacken everyone's silver!

What's more, the saints today don't look like people who don't talk about credibility.

Otherwise, he would not have returned the total tax silver recovered from Yangzhou and Nanjing to the big guys, so there is really nothing to worry about.

……

Chongzhen quickly sorted out the logic.

There will be so many gentlemen and businessmen to follow up, it must be because of bonds.

Financial speculation has always been sought after by the world, and there is no exception in ancient and modern times, both in China and abroad.

Tulips, Ponzi schemes...... There is also the real estate boom of small days, and the list goes on.

However, even with these painful lessons in the past, the world is still rushing to financial speculation, and for no other reason, it is really that the ability of financial speculation to create wealth is too impressive.

Clearly aware of the dangers of financial speculation, it is still necessary to moths to fight the fire,

Not to mention these gentlemen and businessmen in the Ming Dynasty who came into contact with financial speculation for the first time? I can't bear it.

At that moment, Chongzhen asked Kang Xi again: "Is the bond trading of the Shiyi Exchange very hot?" How many times has the price of bonds increased? ”

"Back to my father, bond trading is really hot, it's crazy." Kang Xi said, "just opened the trading for a while, even eleven days of contact line sealing, and then the price fell, but soon rose back, and the overall trend is up, yesterday just got the news is that the first one-year, three-year and five-year bonds have risen fivefold, ten-year bonds because of Xuzhou's official field backing, it has risen tenfold!" The second tranche of bonds also generally rose more than threefold. ”

Chongzhen roughly calculated in his heart, the first bond is 20 million, the general increase is five to ten times, and now the total market value is almost 125 million, and the second phase of the bond is 40 million, which is more than three times the general increase is more than 120 million, and the sum of the two is almost exactly the total amount of silver deposits of the Royal Silver Number.

Because Chongzhen has not launched financial products, there is no virtual economy.

So what is the total market value of the bond, which means how much silver will be there.

If the total market value of bonds is to continue to expand, more silver will have to come in to fill the hole.

Once there is no more money to fill the hole, it means that the liquidity of the entire financial market has dried up, then this game of beating the drum and passing flowers will not be able to continue, and then the entire bond market will suddenly collapse.

Of course, a sudden collapse in the bond market does not mean that the money in the market will disappear as well.

The 250 million silver that was attracted into the bond market before will not disappear out of thin air, but will only be transferred from the account of Gentleman A to the account of Shang Jia B, which is the essential difference between the physical bond market and the virtual economy, the "assets" in the virtual economy will really disappear out of thin air, but the physical trading market will not.

Chongzhen didn't feel a little funny, but he also thought that by speculating on the negative situation of Jiannu going south, he would hit the confidence of the bond market, artificially induce a bond crisis, and then cause the bond price to plummet, and take the opportunity to buy back a high-interest bond.

But now it seems that there is no need to speculate on the negative effects of Jiannu's southward movement, and the entire bond market will collapse in advance, because liquidity is running out and there are no new leeks coming in to take over.

Because according to estimates, the private deposits in Jiangnan are less than 300 million taels at most.

Of these 300 million taels of deposited silver, at least 100 million taels cannot flow into the bond trading market, and some of them will be used for normal commercial trade activities such as sea trade, some will be used for industrial operations, and some will be used for circulation, and a considerable part will be buried forever in the ground by the stingy and timid landlords.

Therefore, the total market value estimated by Chongzhen before was only 200 million.

Now there are 250 million, it is estimated that there is silver from Fujian, Jiangxi and even Liangguang flowing into the city, but the amount of this part of the silver must also be limited, and 50 million taels will reach the peak.

This means that the bond market has reached its highest point.

Then the whole goes down, which is the inevitable result.

In this era, the downward trend of the bond market will definitely form a stampede and cause a tragedy!

At that time, I don't know how many small gentlemen and small businessmen will go bankrupt, and Qin Huaihe is estimated to have many deaths.

But fortunately, Chongzhen has set up a firewall of 500 taels for the bond market, so the small people who are the cornerstone of Shengdou will not be affected, and the wealthy gentry and big businessmen are estimated to be able to make a wave of blood, and the leeks will always be those who have a small net worth, or the middle class.

Chongzhen, as the ruling class, as long as he envelops the top elites and feeds the stomachs of the bottom, as for the petty bourgeoisie and the middle class in the middle, he can't take care of so much, anyway, even if this small group of people rebels, it will not become a climate, and when the economy improves, this class will soon spring up like mushrooms after a rain.

The reality is so cruel that no one can be excepted, both ancient and modern, Chinese and foreign.

So now, the Royal Silver Horn has to prepare in advance.

This is because, in addition to the 60 million taels of silver from the Ministry of Internal Affairs, the rest of the silver is basically the positions in the hands of those shareholders of the Shiyi Exchange, and the silver that is actually deposited in the Royal Silver may be several million taels.

Thinking of this, Chongzhen asked Kang Xi again: "What is the total amount of silver loaned?" ”

"Not much." Kang Xi said with some shame, "In total, I only borrowed less than five million taels of silver. ”

"That's good." Chongzhen breathed a sigh of relief and said, "You hurry up and let the Nanjing General Account and the branches of Hangzhou, Suzhou and Xuzhou prepare enough silver, if nothing else, the run tide will be coming." ”

After the avalanche in the bond market, the gentlemen and businessmen who have made money will definitely withdraw the money.

"Run?" Kang Xi was stunned and said, "There shouldn't be anyone running on the silver, right?" After all, the bond trading of the Shiyi Exchange is so hot now, who will give up and suck the money away? ”

Chongzhen said: "The bond market is about to collapse. ”

"Won't it?" At this time, even Zhu Cihong didn't believe it, and said, "Father, if you go back to Nanjing, you won't think so, after nearly three months of continuous rise, with more and more gentry and businessmen who have earned silver from Shiyi, the enthusiasm of the gentry and businessmen in the entire Jiangnan has been completely mobilized." ”

"Now not only the eight prefectures and one state in the south of the Yangtze River, but also the gentlemen and businessmen in Jiangxi, Fujian, Guangdong and even Huguang have come with thousands of family fortunes and actively participated in bond trading."

Speaking of this, Zhu Cihong said again: "Therefore, the bond market will only become more and more hot." ”

"Hong'er and Xi'er, you all remember." Chongzhen's expression became serious, "In any bond market, when everyone can make money, it is not far from collapse, the current bond industry is in such a stage of boiling oil, and almost all the gentry and businessmen who entered the market have made money from it, but the silver of our Ming Dynasty is limited, and it is impossible to have so much silver for everyone to earn all the time." ”

To put it bluntly, this is the economic principle of liquidity.

Zhu Cihong looked stunned after hearing this, but Kang Xi understood it a little, this little girl's business endowment is really outstanding, there is such a crown princess in the Ming Dynasty, and it is estimated that there will be no shortage of silver in the next few decades.

Kang Xi said: "My daughter-in-law understands, and I will prepare silver when I turn around." ”

"What do you understand?" Zhu Cihong looked at his daughter-in-law in astonishment.

"I'll explain it to you." Kang Xi smiled and said to Chongzhen, "Father, then we will retire first." ”

"Well, you guys go back." Chongzhen bowed his head lightly, and instructed Wang Chengen, "Big companion, immediately send an urgent delivery to the Ministry of Internal Affairs, and prepare to repurchase the first phase of bonds." ”

"Yes." Wang Chengen.

……

Except for Chongzhen, no one realized that the bond market was under the surface of a blazing fire, and a catastrophe was coming, not even Kang Million, the major shareholders of the Shiyi Exchange.

Just when Chongzhen issued a warning, Kang Million and the others were taking stock of the year's general ledger at the Shiyi Exchange.

On the third floor of the city, there is a box with the largest decoration and the most luxurious, which is usually used to entertain VIPs like Xu Hongji, the prince of Wei, and when it comes to taking inventory, it becomes the meeting room of the city.

Kang asked the guys to distribute the accounts to every shareholder who attended the meeting.

"This meeting should have been held a long time ago, but it was just in time for the second expansion of the company a year ago, and there were too many things, so it was delayed until now, let's take a look first, this is the profit earned last year."

Fang Wenzhen and more than a dozen other major shareholders opened the accounts one after another, only to see that the total profit was written on the first page.

In addition, Arabic numerals have been officially promoted in the Royal Silver Horn and the Shiyi Office, and great businessmen such as Fang Wenzhen have accepted Arabic numerals and bookkeeping from the left horizontally.

"Profit of 18 million?!" One shareholder exclaimed.

One thing to say, this profit figure is really unexpected.

Chongzhen Daming, who provides you with the Great God Lonely Swordsman: The fastest update from the coal mountain, in order for you to see the fastest update of this book next time, be sure to save the bookmark!

Chapter 182 - Burning Cooking Oil Free Read.