Genius remembers in a second [Aishang Novel Network biquge.info] to provide you with wonderful novels to read.

On behalf of Franklin, the third day of Sidipat's secret meeting, the last day of the orc trade group to negotiate trade with the City Lord's Mansion once a month. After the amount of this transaction has been determined, the orcs announced that all the goods brought this time will be paid for by the Castle Lord's Mansion in Mithril coinage. On the last trading day of this time, the City Lord's Mansion specially held a banquet to allow many merchants to participate in this banquet. The merchants were very eager to get tickets for this banquet, and many friends who had a little friendship with Mr. Obier approached him and offered him a lot of favors for this. Because the merchants knew that after the general agent of the city lord's mansion Tong Guò Solomon Company got the goods brought by the orcs, the next step was to resell these goods to the merchants. Then if this banquet is held, those who can participate in it may get a ticket to become the second-level agent of this time. The merchants saw this as an expression of the Lord's Mansion becoming more and more open-minded, transparent, and treating everyone fairly and equally, but of course this was after automatically ignoring Solomon's Company, which was the white glove of the Lord's Mansion. They didn't know that this was carefully arranged by Wang Qinian and others, and the purpose of the banquet was to let the merchants know about the Mithril coinage as soon as possible. For the turmoil that may explode, the power of these merchants is still very small, and the merchants who come to the Free City to do business are not particularly big wealthy families, most of them are small and medium-sized merchants, or caravans under the big chamber of commerce like the Song of the Silver Moon, but they will not be the main caravan. The main caravans of the big tycoons have their own monopoly fixed trade routes, although the free city has a certain advantage because it can trade with the orcs, but it is really relatively remote, and Franklin also has a certain strength, so no big tycoon clan is determined to control this place, but it is very attractive to small and medium-sized merchants. However, small and medium-sized merchants come from various Terran countries, and it is useful to spread the news, whether it is now trying to make the Mithril coinage known through their mouths, or if the Terran country wants to abandon the Mithril coinage so that it can be monopolized, the small and medium-sized merchants' leisurely mouth can have a certain blow to their reputation and give birth to a trace of scruples. Of course, this scruple is unlikely to stop ambition, but if other means work together, it can become another straw that breaks the camel's back. The so-called success is in the sky, the plan is in the people, and the success or failure can only look at the final result, but before the result, all means can only be used. So in this arrangement, the merchants learned in the fastest way that the Free City had decided to make its own currency. Moreover, this Mithril mint was first used for trade with the Orcs, and Sidipater did not break his promise, and the Orc Trade Group fully agreed to accept payment in Mithril coinage. Then, at the banquet, Franklin announced that starting today, the Free City would start minting Mithril and implement the Mithril standard. The Mithril coins weigh about 7.78 grams each, which is nearly a quarter of a troy ounce, but because the weight of the Mithril is lighter than the same volume of silver, the coinage is much larger than the same weight of ordinary silver coins. Prior to this, most of the countries on the Big 6 implemented a double standard system, and at the same time used gold and silver as legal tender, which was eligible for unlimited legal compensation. The Mithril standard, on the other hand, is a single-standard currency, as Wang Qinian and Sidipater said. The City of Liberty stipulates that the fineness of the Mithril coinage is 90% Mithril plus 10% silver mixed minting, and the ratio to the gold coinage is 1:40, and this time the gold and silver coinage of the Free City at the same time are only used as auxiliary coins, and due to the limited quantity, even if they are only used as auxiliary coins, it is not enough to use them as auxiliary coins, so it is allowed to use gold and silver coins that meet the gold and silver coinage standards of the Asturian royal family as auxiliary coins in the Free City, because the standard of the auxiliary coins of the Free City is the reference to the Asturian gold and silver coin standard。 However, the biggest difference between the single-standard currency system and the double-standard currency system is that the latter uses two metal coins as legal tender at the same time, while the gold and silver coins used as auxiliary coins in the single-standard currency do not have unlimited legal compensation qualifications in the Free City, and are only allowed to be used under a Mithril coinage, and if the payment involved is on top of a Mithril coinage, the Mithril coin must be used, otherwise the creditor can refuse to offset the debt. Anyone can use Mithril to mint Mithril coins in the Liberty City in the colors published by the Free City, and freely exchange them for huàn coins. Only ninety percent of the coinage standard was used, which was also Wang Qinian's idea. Because at present, the price of Mithril on the Big 6 is about 1:40 Eagle Gold Coins, and Mithril coins are only minted in 90% fineness, which includes the wear and tear of the coinage, other costs and the profit that the mint should have. And most importantly, when the Mithril coinage appeared, there would inevitably be people who tried to arbitrage, that is, they used auxiliary coins to exchange for Huàn Mithril coinage, and then melted down the Mithril coins and condensed them into pure Mithril to sell them at a slightly higher price in order to obtain premium income. The Mithril coinage is only 90% fine, and if it is melted, plus the cost of sales required by the seller, it is very likely that it will not be a premium, but a discount. In doing so, Wang Qinian also wants to try to prevent the phenomenon of bad money driving out good money. The so-called bad money drives out good money, also known as Gresham's law in the pre-travel world, is an ancient principle of economics, in the coinage circulation, when two currencies are used at the same time for unlimited circulation, because the value of the two currencies is changing, this phenomenon may occur. The Liberty City implements a single-standard currency system, which can only eliminate this phenomenon from the scope of the Liberty City, because there is only a single fiat currency, and the auxiliary currency is not eligible for unlimited legal compensation and is subject to the limitation of circulation. But if the scope is put on the entire Terran country, then it is no longer a single-standard currency, but a double-standard currency. In the case of the Mithril coinage and the Asturian Eagle gold coin, which is allowed to be used as auxiliary coins, for example, the ratio is now one to forty, but in other places of the same quality of pure Mithril may have a zài premium, possibly one to forty-two, and even in places or in the hands of people who are desperately needed Mithril may be able to pay a ratio of one to forty-five. At this time, someone may come to the Free City with a large number of Eagle Gold Coins to exchange Huàn Mithril coins, and then melt them to exchange them for Eagle Gold Coins, and after deducting the melting and transaction costs, maybe they can still earn as much as two or three gold coins per round of trading. It may not seem terrible to exchange a coin, but it is terrible when a large amount of money is invested in it, or if it causes a trend that attracts many merchants who like to speculate to do so. As a result, more and more Mithril coins will be melted down into pure Mithril and sold, and then exchanged for gold coins, which will continue to be used to buy Mithril coins for profit. If this continues, the liquidity of Mithril coinage will become very poor, even with a huge Mithril Mine as a support. It's as if the drain of the pool is always open, and the water is never filled, and when it is drained and filled, it will eventually bottom out. In the case of Mithril coinage, if there is a "bottom", it will face withdrawal from circulation. And this shop, Franklin and they pinned the future exhibition of the Free City, and even their fate on the storage and circulation of the Mithril coinage, and they must not allow failure, otherwise the Free City will definitely fall under the complete control of a big force, and Franklin will most likely become an idle aristocratic knight. Therefore, in order to avoid bad money driving out good money, Wang Qinian had no choice but to adopt a discount line on the minting value, so as to avoid the vast majority of arbitrage behavior at this stage. Of course, this still doesn't completely prevent the Mithril mint from being melted down, as Sidipat, for example, will definitely melt a portion of it and sacrifice it to the Priest of the Scepter and the Totemist. However, in recent years, the Free City has implemented a pass system, allowing orcs to live freely to a limited extent, allowing orcs to accept currency, which will play a role in the circulation of Mithril coins among orcs. The value of Mithril itself is easy for orcs to accept as property, because if an orc gets Mithril and gives it to the clan or exchanges it directly with the Totemist, there is absolutely no problem. But how to make the Mithril coinage return to the human race after it reaches the hands of the orcs, and then flow out to form a normal circulation, it depends on the consumption opportunities created by the free city to the orcs. Therefore, Solomon's Shadow Animation, as well as a series of industries driven by Shadow Animation, including Wang Qinian's "small market model", brothers' meals, and couples' meals, all want orcs to use the currency after obtaining it and return it to circulation, rather than storing it in their hands, which is also not conducive to the liquidity of currency. At this point, whether it is as smart as Chris or as experienced as Obiel, he can't think of so much, but he just thinks that Wang Qinian is indeed too smart, and he has come up with so many ways to earn money back from the orcs, but he can't understand Wang Qinian's real intentions. As a traverser, Wang Qinian is not strong in this world, on the contrary, he can even be called weak. If you want to become a strong person, in addition to understanding more and more the nature of the world, the essence of physics, and the essence of laws, another way is to create your own rules or environment. For a person who thinks that his hidden profession is the capitalist of the future, what is most needed is to create an environment where capital can wield supreme power. From the point of view of the discount bank, Wang Qinian put the Mithril coinage on the status of "bad money" from the beginning, trying to avoid bad coins driving out good coins. But Gresham's law is not immutable, when there are too many bad coins to choose from, the worst bad coins may be abandoned and withdrawn from circulation because they hold their value too poorly. This is generally because a certain bad currency is subject to too many arbitrage opportunities, and even some people actively reduce the value of the bad currency to make profits in order to continue arbitrage. For example, the fineness of a certain bad coin is ninety percent at the beginning, and later, in order to make profits, the minter will reduce the fineness to eighty to five, eighty, seventy to five, seventy, and so on, in order to seek more profits. But if it is inferior to a certain extent, it will also play off the line, because one of the basic functions of money is to measure the value of other commodities as a universal commodity. If the value of the currency is unstable for a long time, the basic function of the currency will be lost, and eventually it will also be withdrawn from circulation. Therefore, the phrase "money is not naturally gold and silver, but gold and silver are naturally money" is based on the stability of the value of precious metals for a certain period of time, and gold and silver are the most suitable materials for money. And from this point of view, Mithril coinage is a full "hard currency" and belongs to good coins. As the countries opened up the plane, in the Keosbourne plane, the human race and the orcs also slowly entered a period of peace, and free cities and Turing, which were in deep contact with the orcs, emerged. In the great exhibition of trade, the total amount of currency in the plane is insufficient, even if it is a bad currency, as long as it is not inferior to the point that the value of the currency is completely unstable as mentioned above, it still has zài use value. Therefore, although the Mithril coinage is an inferior coin from the perspective of the conversion line, it is a natural good coin from the perspective of material, which can be accepted by more civilizations and forces, and has a great chance of circulating and continuing to be stored. In the world before Wang Qinian's crossing, gold was definitely not only ornamental and collectible, nor was it entirely based on the scarcity of precious metals and the value stability, but in industry, gold still had many uses, so until the 21st century, there were still people who wanted to return to the gold standard. But in fact, this is difficult, basically impossible, because under the gold standard, metal money or paper money must correspond to gold as a reserve, and there is not enough gold on the earth. Wang Qinian's purpose, in a certain sense, is to replace gold with Mithril on Keos, similar to the replacement of silver with gold on the earth, and eventually establish the Mithril standard between countries and even planes to replace the double standard. Because this is the Kaos plane, this is the world after the time-travel, where the magical civilization is reached. Mithril is much more demanding in magical civilizations than gold and silver, and other magical metals are not produced in comparable quantities. So, there was another big news that didn't go out of the way at the banquet, and even the orc trade group didn't know that they weren't the first traders to mint Mithril coins. The first to actually accept the Mithril mint of the Free City was the Mage's Guild, and not the Mage's Guild of Mordo, but the Mage's Guild of Asturias. To do this, Chris made an exception to St. Quentin and used his previous connections to contact the people of the first branch. But there is only one purpose, to offer a bounty to the Guò Magicians' Guild at a price of up to 300 Mithril coins, and to all magicians, asking for a simple magic array that can identify the composition of metal as soon as possible. This is also Wang Qinian's plan, first, to try to avoid someone in the future to reduce the fineness of the way to cause currency depreciation, there must be something similar to the money detector, of course, this is the currency inspection, to test the fineness of various metal currencies. This kind of magic array, according to Wang Qinian's plan, after obtaining it, will be arranged by the Free City at the cost of the Franklin Bank, free for merchants or citizens to use, and its maintenance cost will be paid by the bank. The second purpose is to buy horse bones with money, and the Guò Magicians' Guild will offer a bounty to let the magicians know the deposit of Mithril coins as soon as possible. Chris thinks it's a bit of a fuss about this, but Wang Qinian insists on it, which is exactly what he intends to do. The liquidity of money is not only the formation of circulation and the degree of circulation, but also as wide as possible, and the more people who accept it, the stronger the vitality of the currency. In a magical civilization, Mithril is the most likely to become an international currency, or even a dimensional currency, just like the gold of the earth. Because for magicians, Mithril is far more important than gold. Magicians do not fully accept their magical research, the results of magic, and the use of gold as a currency to drive and measure value, which is why they only sell low-end items in exchange for wealth to maintain daily life, while mid-to-high-end items are often limited to exchanges between magicians. But this actually limits the exhibition of magic, and it is not easy for mages to gather together to study the same direction and achieve breakthrough exhibitions. Although the emergence of magic academies and wizards' guilds has barely set up a platform for magicians to strengthen communication, cultivate reserve talents, and even conduct small-scale joint research, there is still a lack of fundamental promotion. But perhaps, it will be different later. The banquet lasted until late at night, and the merchants left drunk and satisfied. Of course, this satisfaction does not come from the hearty meals and sweet drinks in the city lord's mansion, but the belief that he will get a certain share of the goods provided by the orcs this time. Even after the establishment of the exchange in the Free City, the goods brought by the monthly orc trade group are still valued by most merchants, for the simple reason that the goods on the commodity exchange are mainly ordinary goods circulating in various countries, and the profit of a single piece is not high, and a large number of transactions are required to get a satisfactory profit. However, the profit of a single piece of goods brought by the orcs is very high, so even if the quantity is distributed to each merchant, and it is a change of hands, it still has a high profit, and even if you want to seek more profits, you can sell it to some nobles who have never been stingy with money. Among them, many of them have a better eye than ordinary businessmen, and they have noticed more surprising places. That's the line of Mithril minting, and the orcs seem to have fully embraced the monetized transaction. Merchants had always looked forward to direct trade with the orcs, but in addition to being hindered by the castle lord's mansion, another major obstacle was that the orcs only accepted barter, which limited the variety and quantity of trade. Over the past few years, the orcs have accepted about twenty percent of the currency as a means of payment in their transactions with the City Lord's Mansion, but this time it has been a breakthrough and completely accepted monetized transactions.

The far-sighted businessman has a vague feeling that something may be changing.