Super Emperor of the Late Qing Dynasty

Chapter 651: The Gold Standard Cancelled

You can search for the latest chapters in Baidu for "Super Emperors Search Novels of the Late Qing Dynasty (www.soxscc.com)"!Hoover was incapable of the economic crisis. He gave his resignation speech in dismay, and stepped down amidst a wave of scolding. Although he is very hardworking and understands the economy, the free economic system he pursues is helpless for the coming economic crisis.

However, Franklin, Mao Qiufu came to the stage, he gave a speech, pointed out that the only thing people fear is fear itself, a kind of nameless, irrational, and unreasonable fear.It can paralyze us, do nothing, prevent us from retreating to attacking.

He asked Congress to grant him the right to deal with emergencies. This kind of power giant is beyond the original governor's powers. Citi will begin to interfere in the economy and use administrative methods to be incompatible with previous policies.

It is said that in the hearts of the entire Citigroup, the economy cannot be completely free, and the market economy is implemented just like the Qing Dynasty, but they have received very little impact in this economic crisis.

"We need strong actions to make all the goals to make the economy turn for the better. Under the leadership of the market and economic needs, we must act disciplined in the direction of recovery. In order to achieve the goal of economic recovery, we will have obligations. And the right to take all actions."

Mao Qiufu’s coming to power made Wang Guangxu also express his helplessness. He was unable to assassinate this family. Even if he was killed, he would still feel good about it. Dusford came forward. This is an ideal group, although Mao Qiufu is one of the best. However, if the Qing Dynasty does more, it will shift Citi’s social conflicts.

At this time, Citi’s GNP has dropped to 160 billion U.S. dollars, which is only more than one-third of Daqing’s. Even if he pulls back the economy, it is impossible to threaten Daqing’s economic strength. Daqing has become a well-deserved one. It is the number one economic power.Even the per capita GNP is 1/2 of Citigroup.

They adopted some methods that only Boervi would take, printing invoices, picking up goods with tickets, shopping coupons, and not even the most primitive bartering.

So there was a strange scene, a friend went to a concert, carrying a basket of cabbage, and the friend was wearing a half-old quilt.

The newspaper issued a notice, and the farm made an announcement?can!Carry 500 catties of potatoes as advertising expenses.

It seems that Citigroup has returned to primitive society overnight, but this allows people to exchange what they need.

Then he attacked those who hoarded gold and currency. Any user who had withdrawn gold in the previous month must return the gold to the bank within a week.Otherwise, their list will be made public, and they will be cast aside for thousands of people.

All this is undoubtedly a heavy blow to those people. If they are made public, then the angry and starving crowd will tear them all to pieces.These people were finally scared. In order to prevent the list from being made public, these people lined up at the bank door early, crowded with strenuous crowds carrying large bags.

They received 300 million U.S. dollars worth of gold in just one day. After seeing the effect, they immediately extended the time to within one year.Dream Island Book Library www.mdsku.com

So within a week they received $600 million in gold, and in this way they could issue another $1.8 billion in cash, and users could start to withdraw U.S. dollars with restrictions, and people could use banknotes to buy things again.

Finally, in 3925, Citi's economy began to ease, business activities began to increase, and prices gradually recovered.

Most banks have resumed business, and even the stock market can be reopened. The stock market that has just reopened has risen more than ten percent. This shows that Citigroup has restored some confidence. The Jingrong crisis has passed but the economic crisis has not passed...

The steel industry has dropped by nearly 80% in three years.The automobile industry dropped by 95%.At least 130,000 companies have closed down, and a quarter of the country’s labor force is unemployed.

Restoring the economy is not so easy.

With Mao Qiufu's abolition of the gold standard, despite the opposition of many people, those people believe that the gold standard is the source of a country's prosperity and a symbol of Western culture.

And their archenemy, the early morning, abolished the gold standard seven years ago. At that time, they were ridiculed by Western economists. Although the currency appreciated, the speed of the Qing Dynasty disappeared.

However, the facts have proved that Mao Qiufu and Daqing’s approach are the same. After the abolition of the gold standard, the Mi Yuan experienced a certain depreciation, but it quickly stabilized. People no longer consider whether the currency can replace gold, and gradually The factories started and the necessities available to buy also gave people confidence.

And Citigroup began printing a lot of money, and the inflow of cash greatly eased the shortage of banknotes and exhausted the circulation of commodities.

With money, they started investing in various places, running education, repairing water conservancy, repairing buildings, setting up post offices and highways. Obviously, they learned the infrastructure construction of the Qing Dynasty. Even if the Qing Dynasty did not do it, they could still I thought, but if there is no example of the Qing Dynasty, they would never do so resolutely, nor would they do so very much.

After the currency depreciated by 17%, Citi's economy has stabilized and can compete with those Europeans that are also in economic crisis and even inflation.

Of course, they have been thrown away by the Qing Dynasty. With a 3 to 1 GNP, Citigroup has no arrogant capital in the face of the Qing Dynasty.

Even though their stocks have begun to expand, the prices of agricultural and industrial products have begun to pick up. Perhaps they will return to the level of 3918 in two to three years, which is close to 200 billion U.S. dollars, but at that time the Qing Dynasty should have exceeded five. After hundreds of billions, Citi's speed at that time will inevitably slow down. After all, they don't want to experience another Black Thursday...