Therefore, the later it goes, the more difficult it becomes to issue treasury bills.

In order to solve the problem of "dead money" and promote the issuance of treasury bills, starting from 1985, the "discount" method was allowed to redeem unexpired treasury bills.

The calculation method of discount is more complicated. Simply put, if you have a 100-denomination treasury bill issued in 1985, with a term of 5 years and an annual interest rate of 9%, excluding compound interest, you should repay 145 yuan after maturity.

But if you want to get the money in advance, for example, 3 years in advance, with a discounted monthly interest rate of 12.93‰, then the money you can get from the bank is only 77.50 yuan.

I bought it for 100 yuan two years ago and lost 22.5% of it two years later, which is equivalent to cashing it out at a 20% discount.

On the contrary, if you deposit 100 yuan regularly for 5 years, the annual interest rate is lower than that of treasury bills, but after calculating compound interest, you will get 143 yuan after maturity, which is only 2 yuan less than treasury bills.

But there is an advantage to time deposits. You can withdraw money in advance. At most, the interest will be lost, but the principal of 100 yuan will definitely not be reduced by one penny.

Obviously, fixed deposits have more advantages, and it is obvious what choice ordinary people make.

Logically speaking, a 20% discount is actually not bad. After all, this is a formal channel and there are no worries.

But the smartest man in the world thought about it for three days and three nights and couldn't figure it out. Why should the discount procedure be designed to be so troublesome?

It won’t be done in less than ten days and a half, and even if it is done, it will have to shed a layer of skin.

Therefore, ordinary people prefer to sell privately at 30% off or even lower discounts.

It will definitely not work if this continues, so in the first half of next year the state will issue documents to liberalize the treasury bill transfer market.

Although free trading is still prohibited, individuals can purchase or sell treasury bills at designated institutions.

The famous Yang Wanwan made millions by taking advantage of the differences in treasury bill quotations in different places and arbitrage through reselling in other places.

It would be fine if he didn't come across it, but now that he had come across it, Ding Zhiyuan planned to get involved.

A monk can touch it, but I can’t?

However, Yang Wanwan’s off-site arbitrage model is not yet available, but if you start buying treasury bonds privately from now on, and sell the treasury bonds in your hand after the policy is relaxed next year, you will get at least 10% profit.
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Then use the interest rate difference caused by information asymmetry to quickly arbitrage...

And he happened to have a small sum of money on hand and didn't know what to do with it, so he just bought treasury bills.

These days, the brave will be overwhelmed to death and the timid will be starved to death.

If you want to get rich, you can’t just rely on hard work, you have to use your brain!

"Teacher Chen, maybe the policy has changed, and the buying and selling of treasury bonds may not be allowed in the near future." Ding Zhiyuan naturally wanted to buy the treasury bonds in Chen Junzhong's hands, but a gentleman would not deceive the darkroom, so he reminded him tactfully.

If Chen Junzhong hears this and refuses to sell it, Ding Zhiyuan will just pretend that nothing happened.

On the contrary, Ding Zhiyuan has fulfilled his duty of reminder anyway and has a clear conscience.

Chen Junzhong said disapprovingly: "Treasury bills are not allowed to be bought and sold today, but they are allowed tomorrow, and maybe not the day after tomorrow.

Haha, the current policies are changing day by day. After today, I still don’t know what tomorrow will be like.”

Ding Zhiyuan smiled and said: "Do you still want these treasury bonds? If not, can you sell them to me?"

Chen Junzhong asked in confusion: "What do you want this thing for?"

Ding Zhiyuan chuckled and said: "The interest on this thing is high. If I buy it at the original price, I will make a 45% profit if I sell it after three years."

Chen Junzhong shook his head and said: "Have you ever considered inflation? Although I don't understand economics, I can see that money has become less and less valuable in the past two years. In the future, it will be even harder to say."

Ding Zhiyuan said indifferently: "As long as you don't lose money."

Chen Junzhong didn't want to watch Ding Zhiyuan jump into the pit, so he said: "If you really want it, I'll give it to you. Anyway, I won't exchange it if I keep it."

"How can that be done?" Ding Zhiyuan shook his head, "After all, you paid for it, so I can't ask for it in vain."

Chen Junzhong said: "Then just give me whatever you want."

Ding Zhiyuan insisted: "Just buy it at the original price. You don't take advantage of me, and I won't take advantage of you."

"That's OK." Chen Junzhong said helplessly, "Do you like the house?"

Ding Zhiyuan nodded and said: "I think it's pretty good. How much is your monthly rent?"

Chen Junzhong smiled and said: "If you want to rent for a long time, just give me 100 yuan a year."

"What?" Ding Zhiyuan thought he heard wrongly, "A year or a month?"

The rent for such a nice house is one hundred yuan a year, which is a bargain.

The rent is one hundred yuan a month, but the lion is asking for it.

Chen Junzhong pointed to the treasury bills: "This 500 yuan was originally picked up, so it can be used as your rent."

"No, no, no!"

"If you don't agree, I won't rent this house to you."

Ding Zhiyuan said speechlessly: "Teacher Chen, you are still acting rogue at such an old age!"

Chen Junzhong laughed: "The house is mine, so I just want to act like a rogue."

Ding Zhiyuan smiled bitterly and said: "You are really..., you made me feel embarrassed."

"If you really feel sorry for yourself, come and help me move the day after tomorrow."

Chen Junzhong suddenly sniffed, slapped his thigh suddenly, and said angrily: "I'm just talking, my Mingqianyu Flower Tea!

Walk around, drink tea, it won’t taste good when it’s cold, so don’t waste it!”

The two of them drank in the courtyard until dark. Ding Zhiyuan drank a new pot of tea before leaving with satisfaction.

I’m so happy today, I’m so happy!

I was originally looking for a house today, but not only did I find the house, I also unexpectedly discovered a way to make a fortune.

However, Ding Zhiyuan did not let the joy go to his head. These days, although the brave will be overwhelmed and the timid will be starved to death, as the saying goes, most of those who drown are those who can swim.

I often walk by the river. Are there any shoes that don’t get wet?

I have to think carefully about how I can walk along the river and avoid getting my shoes wet as much as possible.

As soon as they entered the dormitory building, the dormitory manager poked his head out of the management room next to the door: "Ding Zhiyuan, wait a moment."

Ding Zhiyuan stopped quickly and said with a smile: "Sister, what are you doing?"

An authentic Jinling dialect.

There are all freshmen living in this dormitory building. There are three dormitory supervisors in total, two women in their forties and fifties, and a young woman in her thirties.

The one on duty today is that young woman, with an oval face, big eyes, and fair skin.

Tsk tsk, no wonder everyone says Jiangnan is good, but it makes no sense for a dormitory girl to be so beautiful.

It has been ten days since Ding Zhiyuan moved in, and he has already become familiar with several dormitory managers.

We will inevitably have frequent contacts in the next few years, and we must build a good relationship.

If it were a male dormitory, he could still become smoking buddies with them, but with a female dormitory, as long as she couldn't betray her appearance, she could only rely on his sweet mouth.
Chapter completed!