"But even if we abolish the current currency, what's the point of issuing a new one? Without the support of the Moon Crystals, the people will not recognize it. By then, wouldn't it be a pile of waste paper? "The Consul asked.
"That's the key. You have to separate the currency from the Moon Crystals. Only then will you be able to solve this crisis. Otherwise, even if you find the Moon Crystals that were stolen, they will not be able to complete the exchange because the bank has overissued paper money," Jiang Fei said.
"I understand the logic, but the problem is how to get the people to recognize the new currency?" The Consul said.
"That's easy. You and your government can directly endorse this currency!" Jiang Fei said.
"Ah?" The Consul was stunned by Jiang Fei's words.
"Look, your government wants to collect various taxes from the Gamma Space. This is a very stable amount of wealth. As long as the government exists, this income will grow steadily. Therefore, it is more valuable than the Moon Crystals. In addition to the authority and credibility of the government, as long as you stand up and endorse the new currency, the people will be willing to recognize it. This is because when you collect taxes, you will collect the new currency. Therefore, the merchants will recognize it and use it when they buy and sell things. Once the merchants recognize this new currency, the people will be able to use this currency to maintain its value. So, why wouldn't they recognize it?" Jiang Fei said.
"That sounds feasible!" The Consul's eyes lit up. Although Jiang Fei's words were vague, as a person of high status, he quickly understood the essence of it.
"Of course it's feasible!" Jiang Fei thought to himself. The transition from the gold standard currency to the era of fiat currency had already been experienced on Earth. As long as the ruler did not go crazy and print money, this kind of currency system was quite stable. After all, as long as the government was stable and healthy, the currency that was endorsed by the government would definitely remain stable.
"Alright! Anyway, we're in a desperate situation now. Let's try your plan! " The Consul immediately gathered his advisors and told them about Jiang Fei's plan. After they had the plan, the advisors did not give it to them for nothing. Very soon, they were able to fill in Jiang Fei's rough plan.
One day later, the Consul issued an order to abolish the original currency. However, everyone could go to the bank and exchange for the new currency at a one-to-one ratio. The new currency could not be directly exchanged for Moon Crystals. However, this new currency was recognized by the government. In the future, the government's taxes, fines, and various public expenses would all be settled in the new currency. Even the salaries of government employees would be settled in the new currency!
On the day the order was issued, the commoners did not quite believe it. But eventually, someone would be the first to try it. After these people exchanged for the new currency and paid the taxes with the new currency, they bought things from the government-run stores. Then, the commoners flocked to the banks and began to exchange for the new currency.
After all, with the new currency that was recognized by the government, who would be willing to spend four or even five times the original price to buy Moon Crystals?
Most importantly, the government no longer recognized the status of the Moon Elf Crystal as a basic currency. This meant that the Moon Elf Crystal could no longer be used as a common currency to trade goods. After losing its status as a common currency, the Moon Elf Crystal, which was like a gemstone and didn't have much use, began to depreciate rapidly.
Currently, the people who had the most Moon Crystals were undoubtedly the gangsters. The bank took this opportunity to collect a lot of old banknotes. With the government's endorsement, these old banknotes were exchanged for new banknotes, which then became the bank's reserves.
Suddenly, the bank had money again. Although the common people had suffered heavy losses in the financial crisis, the crisis had passed in time. Although everyone's wealth had suffered losses, at least they had been pulled back from the point of no longer being able to live.
The common people were actually very easy to appease. When they were at their wits' end and had no food to eat, they would definitely rebel. However, as long as they were given half a mouthful of Korean noodles so that they could make do with their lives, most of the common people would still be willing to live in peace.
With the issuance of the new currency, society in the Gamma Space quickly stabilized. However, the current problem was not completely solved. After all, after this crisis, the wealth of the people had generally decreased. Although a few people had made huge profits during this period, most people had fallen below the poverty line.
"Ralph, not bad. You actually came up with such a good solution!" Although the consul still had many problems to solve at this time, at least the urgent matter had been settled. Naturally, he was most grateful to Jiang Fei.
"Hehe, I just had a sudden inspiration," Jiang Fei said with a silly smile. Jiang Fei said with a smirk. In fact, his plan also had a big loophole, but he did not say it because the Gamma Space was too stable. It was not a good thing for him, so of course, Jiang Fei had to keep it in his hands.
"I have to say, you're really a genius!" The consul smiled, then continued, "It's all thanks to you this time. What reward do you want?"
"Reward …" Jiang Fei deliberately pondered for a moment, then said to the consul, "Sir, it's boring for me to follow you around all day. You're quite safe now, so I want to find something to do."
"Oh? Find something to do? " The consul frowned. He knew that Jiang Fei was asking him for an official position. Since Jiang Fei had just made a great contribution, he really deserved a reward. So, it was not good to directly refuse.
However, the problem was that the consul also felt that Jiang Fei was just a blind cat running into a dead mouse this time. Jiang Fei might not really have the ability to do it. If he put him in an important position and he messed things up, then he would have to clean up after him.
So, in all fairness, although the consul trusted Jiang Fei, he did not believe in his ability. So, he would rather give Jiang Fei more money and more benefits, but he did not want to give Jiang Fei an important position, lest he caused trouble because he did not know anything.
"How about this!" The consul thought for a long time and was too embarrassed to refuse Jiang Fei directly. After all, Jiang Fei had made a big contribution this time. So, he thought of a way to let Jiang Fei back out.
"Look, because of the previous crisis, the people have no way to live. Although the new currency has stabilized the society, many people have returned to the poverty line because of this crisis. Do you have a way to solve it? If you have a way, I'll let you do it. " The consul was deliberately making things difficult for Jiang Fei. Now, his government had nothing, and the people were even poorer. Although the new currency had been issued, the little money that the people had in their hands had been cheated by the gangsters. So, they could not exchange for the new currency at all.
To put it bluntly, everyone had no money!
(End of this chapter)
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