Champs-Élysées, Élysée Palace.

The crimson sunset shone on this ancient building, which has a history of more than 100 years, and made this ancient building particularly sacred.

In the building, which once represented the center of French power, a discussion about the direction of the French economy is about to begin.

One of the two parties in charge of the discussion was the Comte d'Argo, the current president of the Banque de France (part of the financial faction), and the Emperor Jérôme, who represented the interests of the government. Bonaparte.

At this time, the Comte d'Argo, representing the interests of the Banque de France, was ready in a room at the Élysée Palace. Emperor Bonaparte never appeared.

The clock was ticking to about 5:20, and a carriage stopped at the gate of the Élysée Palace, escorted by French dragoons in cuirasers. The figure of Bonaparte appeared in the carriage.

Jérôme getting off the carriage. As soon as Bonaparte stepped into the Elysée Palace, the butler in charge of guarding the Elysée Palace hurriedly came to him.

"Which room is Count Argu in now, take me there!" Jérôme. Bonaparte said to the butler at a slightly faster pace than usual.

"Your Majesty, please follow me!" The housekeeper hurried to Jérôme. Bonaparte responded.

Led by the butler, Jérôme. Bonaparte soon came to the door of a room.

"Your Majesty, Count Argu is inside!" The housekeeper on the side of Jérôme. Bonaparte said, while serving Jérôme. Bonaparte opened the door.

The door slowly opened, and Jérôme. Bonaparte looked into the room, and the Count of Argou was inside.

"Your Majesty!" The room of the Count of Argour in the view of Jérôme. When Bonaparte arrived, he hurriedly got up and walked to the gate.

Jérôme. Bonaparte entered the room unhurriedly, and when he came to Count Algoo, he stretched out his hand to Count Argou and said, "Count Argoo has kept you waiting!" ”

"Nope! No! Count Argyu shook his head at Jérôme. Bonaparte responded: "Your Majesty, in fact, I just came here and didn't wait long!" ”

"That's it!" Jérôme. Bonaparte said, glancing at the cups on the table.

From the fact that there was not the slightest heat spilling from the cup, it can be concluded that Count Algu may have waited for a long time.

"Sit down!" Jérôme. Bonaparte let go of Count Algo's hand and invited Count Alcourt to sit down.

"Thank you, Your Majesty!" Count Argou sat back in his original position, while Jérôme. Bonaparte sat directly across from the Count of Argour.

"Mr. Algu, you should know what I called you for!" Jerome who just sat down on the ass. Bonaparte immediately inquired about the Count of Argoo.

"Your Majesty, please take a look at this first!" As he spoke, Count Argu opened his backpack on the table and took out a copy of the documents, and then presented them with both hands.

"What is this?" Jérôme, who received the information from the hands of the Count of Argou. Bonaparte asked Count Argoo, pointing to the information.

"Your Majesty, this is the price situation in the Paris region in the first half of this year, as well as the number of banknotes issued by the Banque de France." Count Argu replied.

"Oh!" Jérôme. Bonaparte nodded, looking down at the contents.

After a while, Jérôme. Bonaparte raised his head again and said to Count Algouse: "Yes, yes! The situation in the Paris area is still stable and improving! This shows that our policy is still very successful! ”

"Good? Succeed? Count Argu was stunned for a few seconds, he couldn't believe that this sentence was from Jérôme. The mouth of Bonaparte.

"Look at it!" Jérôme. Bonaparte put up the information of the Count of Argouse, pointed to the bread and meat column, and said: "You see, the value of bread in the first half of this year has only increased by about 3% compared with the first half of last year, and the price of meat has increased by only about 4%. ”

"Your Majesty, a 3% increase is enough to make some Parisians cut back on food!" The Count of Argour couldn't help but be disgusted with Jérôme. "And that's just one part of Paris," Bonaparte said, "and the rest of France is probably growing even higher!" ”

"So what?" Jérôme. Bonaparte asked rhetorically: "During the war, the increase in prices is inevitable!" Moreover, parts of the empire were affected by extremely bad weather in the previous year. Even if there is no war, there will be a wave of small growth! ”

"Your Majesty, I understand that price growth is inevitable, but the situation that the empire is facing now is not just the problem of excessive price growth, but inflation! If this continues, the money in the hands of the workers will not be able to afford bread! Excessive inflation will lead to an empire, facing a huge political crisis!

Up to now, the entire Banque de France has sold nearly 300 million francs of small banknotes, and if this continues, I am afraid that the Banque de France will face the risk of running and going bankrupt! "The Count of Argou sent a letter to Jérôme. Bonaparte pleaded, "Your Majesty, the Banque de France is the lifeblood of all France!" In the event of turmoil at the Banque de France......"

"Turmoil?" Jérôme. A faint smile appeared on the corner of Bonaparte's mouth, and he naturally wouldn't believe the nonsense of Count Argou, who knew the strength of the Banque de France well.

Sixteen years later, the Bank of France was able to prepare 45 billion gold francs in a very short time, and the current Bank of France is at risk of collapsing because of the additional issuance of 300 million francs of banknotes.

No matter how you think about it, it's an impossible thing.

The only possibility is that the Comte d'Argourne himself, who does not want to see the reserves stored in the Banque de France diluted.

After all, even if only a tiny fraction of the population converts paper money into gold, that's a lot of money.

The Count of Argyu was very afraid that the banknotes would be like the banknotes of the revolutionary government, because the government's over-issuance would become waste paper.

The French Revolution affected not only French politicians, but also some of the established banking families.

The vast majority of the bankers who lived through the Revolution after seeing the revolutionary government's unbridled use of radical monetary strategies cause huge inflation, and the bankers born before and after the Revolution rejected all radical strategies and wanted nothing more than to build a sustainable and profitable institution.

For the bankers, who could not even tolerate Saint-Simonism, Jérôme. Bonaparte's shrunken version of Keynesianism is simply destroying a nation!

Jérôme. Bonaparte even believed that if he were not emperor himself, the theory he pursued could not have been carried out by the Banque de France.

To put it mildly, the fact that Count Argou was able to endure such a long time to attack him was already a sign of gratitude to Jérôme. Bonaparte was respectful enough.

"That's right! Your Majesty, 300 million francs is already the limit that France can bear! If this continues, prices will rise sharply! The market will also be in turmoil! "Count Argou to Jérôme. Bonaparte said.

Jérôme. Bonaparte pondered for a moment, spread his hands, and said, "Count Algour, what do you think we should do now?" ”

Hear Jérôme. When Bonaparte asked, the Count of Argour, who thought that the Emperor had accepted his suggestion, hastened to say his "life-saving remedy": "Your Majesty, I propose that the issuance of new currency be stopped immediately from now on, and that the government should minimize unnecessary expenditures and abolish subsidies for agriculture...... Only in this way will we be able to curb malicious inflation! Let our economy return to its original healthy values. ”

As soon as Count Argou finished speaking, Jérôme. Bonaparte stared at Count Argou with wide eyes.

"Your Majesty, am I not right?" Count Argour looked at Jérôme suspiciously. Bonaparte, he did not understand why the emperor looked at him with such an expression.

Wrong? You're trying to hurt me!

Jérôme at this time. Bonaparte roared in his heart.

For the "good medicine" in the mouth of Count Algu, the treatment of economic inflation, Jérôme. Bonaparte couldn't be more familiar.

This method of containment was elegantly called "shock therapy" in later generations.

All countries that have used shock therapy in the future will invariably fall into a period of chaos, and the extent of this chaos will depend on the degree of market economy.

Countries like France, which have not even established a unified market (during this time period, the vast majority of countries, including the United Kingdom, have not established a unified market. The use of "shock therapy" is simply no different from suicide.

Jérôme. Bonaparte didn't know if the French market would be able to withstand this life-saving medicine from the Comte de Argou, and the seat under his ass would certainly not be able to bear it anyway.

Jérôme. Bonaparte was certain that once he stopped issuing more money and cutting government spending, deflation awaited him.

Deflation will lead to massive unemployment, and the angry Parisian people will not be able to wait for the Count of Argoult to regulate him, and will return to the Tuileries Palace to guillotine him!

"Do you know what you're talking about, Count Argu?" Jérôme. Bonaparte's tone could not help but become stern: "If you do this, the whole of France will face mass unemployment!" The angry people of Paris will pull the two of us straight to the guillotine! ”

"No...... No! Your Majesty, I have calculated that as long as we ...... "Count Argou wants to ask Jérôme. Bonaparte explained that his policy would not be a case of mass unemployment.

"Calculations? If economic problems can be solved by simple calculations, then the mathematicians in the world who know the most about economics should be said! "Jérôme. Bonaparte said to Count Argour with a straight face: "You have just said that inflation causes turmoil, so I ask you if austerity does not cause turmoil!" (Jérôme. Bonaparte paused and shook his head) No, it will cause more turmoil on a larger scale! ”

"Your Majesty, the bank already does not have enough reserves! If this continues, it is very likely that the Banque de France will ...... "Count of Argourne to Jérôme. Bonaparte replied.

"Reserves? Didn't the Banque de France already have enough British bonds in reserve? Just let the Bank of Britain discount it! "Jérôme. Bonaparte said to Count Argoo: "And didn't you snipe the gold in the hands of the United States and Russia together with the Bank of England?" Could it be said that it failed? ”

"Your Majesty, just a few days ago the Bank of England raised the discount rate on bills from the previous four and a half to five percent! The English bills we hold will be a big loss if we exchange them now!! "Count Argou to Jérôme. Bonaparte responded.

"Four-and-a-half to five!" Jérôme. Bonaparte couldn't help but raise his voice, "Why didn't the Bank of England rob it?" ”

For a bank like the Bank of France, which holds a large amount of the Bank of England's debt, every percentage point increase in discounting means that a huge sum of money is swallowed up by the Bank of England!

Like England, which has increased by 10 percentage points in one go, it is simply ironclad that does not want the French bank to convert.

"Your Majesty, in fact, this is faster than grabbing money!" Count of Argourne against Jérôme. Bonaparte replied.

"Don't worry! I'll take a look at it myself! "Jérôme. Bonaparte replied to Count Argour: "By the way, you haven't told me what happened to the sniping of the gold market in the United States and Russia?" ”

"Your Majesty, at present, we are still in a stalemate with the Bank of England and the United States and Russia, and it is expected that it will take half a year to decide the winner! It is precisely because of this that the bank's reserves flow into the market like a stream. "Count Argourne addressed Jérôme in a vague manner. Bonaparte expressed displeasure.

"Okay! I already see what you mean! "Jérôme. Bonaparte nodded, got up and walked to the windowsill to look at the setting sun and said slowly, "Count Argou! ”

"Your Majesty!" Algu hurriedly responded.

"Do you know why I chose this place to be a conversation place for the two of us?" Jérôme. Bonaparte turned his back to the window and smirked.

Count Argu shook his head, he really didn't understand Jerome. Why did Bonaparte go to this point and call him to the Élysée Palace to talk?

The Tuileries Palace is a great place to talk.

"Five years ago!" Jérôme. Bonaparte stretched out five fingers, then pointed to the room in front of him and said to the Count of Argoo: "It was in this room that the two of us met, and you were more energetic than you are now!" ”

When Jérôme. After Bonaparte had said this, a sense of foreboding rushed over the heart of the Count of Argour.

Your Majesty wouldn't be thinking about it......

"Your Majesty, of course I remember when you ...... "Count Algu wanted to say hello to Jérôme. Bonaparte played the emotional card.

"Hey! Five years have passed in a blink of an eye! "Jérôme. Bonaparte sighed, pointed at the Count of Argouse, and said, "We are all old! ”

Jérôme. As soon as Bonaparte finished speaking, Count Argyu felt a wave of dizziness.

If he hadn't been sitting on the sofa at this time, I'm afraid he would have already fainted and fallen to the ground.

For Count Argoo, the meaning of His Majesty the Emperor was already obvious.

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