MMORPG: The Almighty Ring Chapter 2881

Chapter 2881: Chapter 2869, after the crisis
Translator: 549690339
“However, even if we destroy the existing currency, what’s the use of reissuing a new currency? Without the support of the lunar crystals, the common people will not admit to it. By then, wouldn’t it be a pile of waste paper?”asked the consul.
“That’s the key. You have to decouple the currency from the lunar crystals in order to resolve this crisis. Otherwise, even if the robbed lunar crystals are recovered, the banks will not be able to complete the exchange because of the overissue of paper currency,”said Jiang Fei.
“I understand the logic. However, the problem is how to get the people to recognize the new currency?”said the consul.
“That is simple. You and your government can just endorse the currency directly!”Said Jiang Fei.
“Ah?”The consul was stunned by Jiang Fei’s words.
“Look, your government wants to collect all kinds of taxes and fees from the gamma space. This is a very stable wealth. As long as the government exists, this income will increase steadily. Therefore, it is more valuable than the moon spirit crystal. In addition to the authority and credibility of the government, as long as you stand up and endorse the new currency, the people are willing to admit it. Because when you collect taxes, you accept the new currency. Therefore, the merchants will recognize it and use it when they buy and sell things. Once the merchants recognize the new currency, the ordinary people can spend the money to preserve the value of the currency. So, why don’t they recognize it?”Jiang Fei said.
“That sounds feasible!”The archon’s eyes lit up. Although Jiang Fei’s explanation was more general, he, who was in a high position, 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 the French currency had already been experienced on Earth. As long as the ruler did not go crazy printing money, the monetary system was relatively stable, after all, as long as the government existed in a stable and healthy manner, the currency endorsed by the government would definitely remain stable.
“Alright! Since it’s a desperate situation now, let’s try your plan!”The magistrate immediately summoned his staff, then, he told everyone about Jiang Fei’s plan. After having the plan, these staff members did not give it to him for free. Very soon, everyone had filled up Jiang Fei’s sloppy plan.
One day later, the consul gave an order to abolish the original currency. However, everyone could go to the bank to exchange for the newly issued currency at a ratio of one to one. The newly issued currency could not be directly exchanged for Moon spirit crystals, however, this currency was recognized by the government. In the future, the government’s taxes, fines, and the costs of various public services would all be settled in the new currency. The salaries of the government’s personnel would also be settled in this new currency!
On the day the order was issued, the common people still didn’t quite believe it. However, there were still people who would be the first to try it. After these people exchanged for the new currency and paid their taxes with the new currency.., after buying things in the government-operated shops, the common people flocked to the banks. They all began to exchange for the new currency.
After all, with a new currency that was recognized by the government one to one, who would be willing to spend four or even five times the price to buy a moon crystal!
Most importantly, the government no longer recognized the status of the Moon spirit crystal as the basic currency. This meant that you could no longer use the moon spirit crystal as a normal equivalent to trade goods. After losing the status of a normal equivalent.., the Moon Spirit Crystal itself didn’t have much use. It was like a gemstone, and its value began to depreciate rapidly.
The people who held the most moon spirit crystal were undoubtedly those gangsters. The bank took this opportunity to recycle a lot of old notes. With the government’s endorsement, these old notes were converted into new notes, then, they became the bank’s reserves.
This time, the bank had money again. Although the people suffered heavy losses in the financial crisis, the crisis was passed in time. Although everyone’s wealth was lost.., at least they were pulled back from the point where they couldn’t live anymore.
The people were actually very easy to appease. When they were cornered and had no food to eat, they would definitely rebel. However, as long as they were given half a stick, they could make do with their lives, the vast majority of the people were still willing to live in peace.
With the issuance of the new currency, the society in the gamma space quickly stabilized. However, the problem was not completely solved. After all, after the crisis, the wealth of the people had generally decreased significantly, although a few people had made huge profits during this period, most people had fallen below the poverty line.
“Ralph, not bad. You can actually come up with such a good solution!”Although the Archon still had many problems to solve, he had at least managed to resolve the imminent problem, naturally, the person he was most grateful for was Jiang Fei.
“Hehe, it was just a whim of mine,”Jiang Fei said with a silly smile. Actually, there was a big flaw in his plan. However, he did not say that because the gamma space was too stable, it was not a good thing for him, therefore, Jiang Fei naturally had to leave something in his hands.
“I have to say, you’re really a genius!”The magistrate smiled and continued, “This time, it’s all thanks to you. What reward do you want?”
“Reward…”Jiang Fei deliberately pondered for a moment and then said to the consul, “Sir, it’s boring for me to stay by your side all day. You’re quite safe now. I want to find something to do.”
“Oh? Find something to do?”The consul frowned. He knew that Jiang Fei was asking him to become an official. Jiang Fei had just made a great contribution, so he should be rewarded. Therefore, it was not good to reject him directly.
However, the problem was that the magistrate also felt that Jiang Fei had met a dead rat. He might not have the ability to do so. If Jiang Fei placed him in an important position, he would mess things up, then, he would have to clean up his own mess.
Therefore, to be fair, although the magistrate trusted Jiang Fei, he did not believe in his ability. Therefore, he would rather give more money and more treatment. However, he did not want to give Jiang Fei an important position so that he would not be ignorant, he would cause trouble.
“How about this?”The magistrate thought for a long time, but he was too embarrassed to directly reject Jiang Fei. After all, Jiang Fei had made a great contribution this time. Therefore, he thought of a way to make Jiang Fei back down.
“Look, because of the previous crisis, the people are now living in poverty. Although the new currency has stabilized 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 solution, I will let you do this.”The consul was deliberately making things difficult for the people, his government now had nothing, and the people were even poorer. Although the new currency had been issued, the little money that the people had was cheated by the hooligans, so it was impossible to exchange for the new currency.
To put it bluntly, no one had money!