[Mei Xuanzong Jackson: First, the price of land has become high, and some people have even inflated the value of land, and when they sell it, they have made several times ......]

[The second is that the real estate market in New York and Chicago is also getting higher and higher...... As a result, many people pay high prices to build houses. According to their current housing repair plan, I think the houses they have built are enough for 10 million American citizens to live in...... What are they planning to do with so many houses? Is it for the Indians to live? 】

[And then there's the banking industry...... Some people only have one piece of land, but they can get more than 100,000 US dollars through mortgages, and then he uses this more than 100,000 US dollars to open another bank and frantically save millions of dollars...... A piece of land worth 50,000 US dollars can finally be leveraged to almost 300,000 US dollars......]

It's time for Zhu Houzhao to be unfamiliar with the economic field again.

But this time, because Zhu Houzhao had previously made up for the economic operation methods of Emperor Wu of the Han Dynasty, and asked the Jinling Household Department to investigate the changes in the value of a Ming treasure banknote.

makes him barely a novice in the economy.

But he still didn't understand the economic phenomena described by Jackson.

For example, in Jackson's mouth, why do those businessmen buy land and build houses like crazy, and build houses, do so many people buy them?

Also, the value of land has become high, and some people have even banded together to buy high land prices and go to the bank for mortgages......

He really doesn't understand these rather complex economic appearances.

Not only did he not understand, but even Washington, Jefferson, and Louis XVI in the group did not understand.

[Cleveland: Stop, President Jackson, no need to say!] I already know what question you're going to ask, about our Great Depression of 1837, and even our first economic crisis in the United States, right? 】

However, Cleveland naturally understands, not only understands, but he is still going through the economic crisis.

Before Jackson could finish speaking, he gave the result.

[Jackson: The First Economic Crisis? Equal to the fact that we have a second and third time? 】

Jackson was keenly aware of the pattern of this naming method, one of which was naturally two.

[Cleveland: President Jackson, you guessed it, but there are no prizes. Later, we had several economic depressions, which were probably similar to the economic crisis you were in, and even the way to deal with them was similar, all of which were learned from you. 】

[Cleveland: You're going to restrict them from buying land with paper money, and then you can only buy land with gold and silver. Because this can alleviate the problem of overheating land development, and even prevent such a false prosperity for a while, right? 】

The crowd was rarely quiet, and Louis XVI was unable to interject.

[Jackson: Yes. 】

Jackson was ready to do this, and Cleveland's answer also made his heart move: [So, historically, I have also taken this way to alleviate this crisis? 】

[Cleveland: My dear President Jackson, reverse the mitigation. As soon as this move of yours came out, it accelerated the economic panic and further promoted the crisis! 】

Do you know what that means? It means the depreciation of paper money, it means a run crisis! 】

[Those merchants will frantically take paper money and exchange it for gold from the bank!] 】

[But the bank does not have so much gold and silver reserves!] This has directly led to the bankruptcy of countless banks! 】

[Countless citizens and businessmen have turned paper money into waste paper almost instantly! Then it triggered a chain economic crash, and the land that was originally 100,000 US dollars was suddenly reduced to 10,000 US dollars, or even 5,000 US dollars, and the collateral of countless people was suddenly recovered by the bank...... Hundreds of thousands of people were displaced in an instant! 】

[To give an inappropriate example, a citizen who had $10,000 in his hand could have bought a house, but in an instant, if you continue to do so, he can only buy a chair.] 】

Cleveland unceremoniously exposed the economic crisis that Jackson had single-handedly created.

At this time, the US dollar and the British pound are bound to gold.

It's how much gold there is, how much banknotes are issued.

However, because of Jackson's move to cancel the central bank, the state banks lacked supervision and directly started to print money.

There was a big flood of madness, which caused inflation, and then there was not so much gold to back it up, which directly caused the collapse of prosperity, and countless people became the price.

[Jackson: What? This, how can this happen? So, isn't there nothing you can do but watch this crisis erupt? 】

Jackson was directly dumbfounded, he didn't know how to save this crisis for a while, and he felt powerless in the face of such an invisible opponent.

[Mei Taizu Washington: Wait, you guys make it clear, why can you only buy a chair for $10,000 at once?] I don't understand something. 】

[Jefferson: I don't understand, is this the national credit that Hamilton often mentions? National confidence? The cornerstone of the country? 】

Washington and Jefferson were also somewhat incomprehensible.

[Érézou Louis XVI: How do you feel something similar to our current situation in China...... The Chancellor seems to have told me that the bread that used to cost ten livres seems to have risen to thirty livres......]

Louis XVI was also confused, but as soon as the example of the house and the chair came out, he also thought of the current inflation situation in France, which seemed to be somewhat similar.

"Isn't this what Zheng Ji said before, a hundred treasure banknotes, you can only buy two or three steamed buns in an instant?"

Zhu Houzhao frowned, thinking of the previous exchange with Zheng Ji, and this situation also appeared on the treasure banknote.

Therefore, the Daming treasure banknotes are becoming less and less valuable, and there is also the so-called Daming economic crisis?

Zhu Houzhao cheered up, vaguely feeling that the economic crisis in the United States was probably also an opportunity for him to find the Daming treasure banknote to stop using.

[Cleveland: President Jackson, don't be discouraged. Did I say you can't solve this problem? Don't sign the gold purchase bill now, just wait a while and go to San Francisco! San Francisco can solve your economic crisis! 】

Cleveland sensed Jackson's confusion and directly gave a solution.

[Jackson: San Francisco? Where is this? What is there here to solve this crisis? 】

Jackson was puzzled, and so did Washington and Jefferson.

Cleveland: San Francisco, you don't know? It's California...... Ah, wait! President Jackson, your period, California, it seems that it is not in our hands, it is in the hands of Mexico! 】

Cleveland was a little hesitant that the president of the United States did not know San Francisco, but he soon realized that during the Jackson era, the United States really did not have California and did not know San Francisco.

San Francisco was the territory that Mexico ceded to the United States after the Mexican-American War!