Among those who were close to a certain time traveler, it was not just the World Tree and the Elves who cared about the development of the bank. A certain retired grand duke was also very concerned.
Ever since he left all territorial affairs to his own son, the retired old duke spent all day using public funds to eat, drink and play, and lived a very happy life. Even his old friend who was the emperor of a country couldn't stand it anymore, so he called people in every day.
The imperial capital was in turmoil.
Anyway, custom-made cars are so convenient, and it only takes two or three days to arrive, unlike in the past where a trip took more than half a month. Then go to the imperial capital more often to meet old friends. Maybe we won’t see each other again very often.
And sometimes, the retired old duke's status is suitable for doing many things that are inconvenient for other nobles. Coupled with his relationship with the magician in the Holy City, he is almost becoming the emperor's exclusive liaison.
There is nothing we can do about it. The things a certain magician has done are too big. Even if there is a think tank dedicated to research and analysis, it may not be able to fully understand the true intentions of that person. Therefore, it is necessary to ask the initiator of everything from time to time. Regardless of whether it is
Telling the truth, or telling the whole story, is always a reference.
Besides, whether it is setting up a covered bank to earn interest on loans, or borrowing money to do things, it is quite attractive to the nobles. So even if the old Duke does not send a message to the emperor, he also wants to see the Dukedom of Kawei
Is it suitable to develop these things?
Even if he retires, his influence will still be there. For the family territory, how could he not hope to develop it better and better?
A certain magician only mentioned one sentence: Do you still remember that His Majesty the Emperor promised him that he would consider issuing a nationwide order in accordance with his request? Then he displayed a certain document on the water mirror screen, letting everyone
The old Duke saw clearly.
It is written with rich feelings and sentiments, expressing the feeling that the subjects of the empire were deeply suffering from debts, and there were some illegal behaviors such as selling wives, children, and territorial titles.
From now on, all illegal activities of selling and repaying debts will be stopped, and those who are unable to repay will be allowed to request the cancellation of all debts. If there are any illegal activities that have been performed, they can appeal to the emperor for arbitration, return the occupied territory, wives and daughters, and deprive them of unpaid debts.
The title of heir to the right person.
This is the beginning of virtuous government and it will never end.
Written as a moral decree, it is actually a law that authorizes everyone to legally default on debts, and even has strong implications. It can be seen that a certain retired old duke's scalp was numb, his face was red, and his heartbeat was racing, as if he was about to have a stroke.
Not to mention that it is good news for those who are unable to repay, and those who are able to repay the money should not pretend to be stupid and default on the debt. Anyway, once this law is enacted, people who repay the money seriously will be fools in the eyes of others.
In today's Lost World, except for the Karlsruhe Empire in the south, which is undergoing restructuring and moving towards a country governed by the rule of law, other countries basically have leaders who follow their words. There is no need to deliberately carry out steps such as third reading, announcement, and implementation.
.
This virtuous government decree was promulgated by the emperor. Although it does not involve other countries or vassals of vassals, the government affairs will have a copycat effect. As long as it is beneficial and good, without the emperor's supervision, of course the people below or people from other countries will follow suit.
Follow the execution.
As for the victims, they are only those who set up cover banks, and then there are those who deposit their own money into these fake banks. As long as the German government decree is issued, it can be said that they will all be caught and no one will be spared.
Regarding the former, the old Duke only thought of one fate - death. He could not think of any other fate.
But the losses of the latter are real. Don’t they deserve sympathy?
In response to the old Duke's question, Lin only answered: Whichever is the lesser of two evils. He did not ask the emperor to 'must' promulgate the law he proposed. The original agreement was only to have a direct channel to Tianting.
Whether or not to do it, the decision-making power is of course in the hands of the emperor, and no one will interfere.
In other words, Lin did not explain the issue of which party is more sympathetic to them or the lenders when people who are unable to repay their debts appear in large numbers. After all, the situation of the former is only on paper and has not really emerged yet, so the old Duke is very concerned about the German government order.
Have concerns.
In fact, two years after this conversation, the German decree was officially promulgated by the Emperor of the Gwana Empire, Armin Kazalnia. And in a very short period of time, it became a universal decree at the Midland Consensus level.
Of course, with the promulgation of the law, there were many vendettas caused by money disputes. There were banks targeting creditors who deliberately failed to repay their debts, and there were also bank joint depositors targeting everyone who was either unable to repay or deliberately defaulted on their debts.
More often than not, people whose money was deposited in the overlay bank were actually trapped and could not get a penny back, and they carried out retaliatory actions against the personnel of the overlay bank.
These people will not want to bypass the bank and go directly to the creditors who do not pay back the money. Because the creditor's rights do not have a clear ownership of them, it is the bank that owes them. So of course they go to these hedge banks with clear goals.
This caused unrest in many places, but the noble lords suppressed it ruthlessly without exception.
Such a result must be seen from the lending relationship before and after the emergence of nested banks.
In the old days, it was very difficult for Midi people, whether commoners or nobles, to borrow money. Even if the interest on borrowing money was quite high, the borrowers would worry about whether they could recover the principal at least, let alone earn interest.
So if you want to borrow money, you either have good connections or a good reputation.
People who have a good relationship know each other well, and of course they know whether the other person has the ability to repay the money. Make sure that the money is just to save a temporary emergency, rather than to save a lifetime of poverty.
Of course, a person with a good reputation cannot let the news that he owes money spread and ruin his reputation. And most of these people are capable; even if they can't pay it back for a while, they can still borrow another one and pay it back.
That's right. If your reputation is really bad, then borrowing money will become a delusion.
Therefore, in this land where the financial economy is still quite backward, the establishment of a loan relationship is not that simple. Even when a loan is established, the borrower is mentally prepared to not be able to recover the loan.
What's more important is that if you declare bankruptcy because you haven't paid the money, the creditor will usually not choose to kill you. Instead, you will use other methods to resolve the debt.
Nobles sell their land and titles, and ordinary people sell their sons, daughters, and even wives. Of course, it is a normal operation. But no one will go for this purpose from the beginning. Unless both parties really have their own plans, borrowing money is not just for borrowing money.
, is to seek other people's property.
But as long as it is a normal loan relationship, no matter what the final outcome is, basically people can still survive.
Besides, the lost land of this era is not a society where it is difficult to move without money. If you have a knife, you can support yourself by hunting. If you have some strength, you can open up wasteland in the wild, plant crops, and also support yourself.
In Lost Land, it's not that difficult to survive.
But when profit-seeking banks appeared, they were under pressure to pay interest to depositors and salaries to employees, so they had to lend out the funds they collected, or invest in other projects that could generate profits.
In addition, this is an imperfect economic system with no relevant financial regulatory system. In this market where banks collect deposits and lend money, it can be said that a hundred ghosts walk in the night and a group of demons dance wildly.
Let’s take the simplest example. The first people to create nested banks obviously had advanced financial knowledge and knew to keep a certain amount of reserves to deal with those who exchanged vouchers for money.
But other imitators don’t understand at all. How do they know what a reserve fund is? How dare they lend out banknotes worth two or three thousand gold coins when they ask for a reserve of one thousand gold coins! Otherwise, how did the devaluation of banknotes come about? .
In addition to the bank's own capital utilization problems, they also have considerable problems in lending!
In the old days, only those who were really in need and had insufficient funds on hand would consider borrowing money. But for the fandom where the financial environment is quite primitive, very few people would encounter this situation. Even if they did, they would find someone close to them. Ask someone for help instead of looking for an unknown bank.
But when nested banks appear and there is pressure to lend, all talk of mutual aid and poverty relief is nonsense!
Please remember the important point: banks are for-profit institutions, not charities.
Since it is for profit, those who are really in urgent need of money may or may not be able to tide over the difficulties, as long as they cannot provide collateral, they will first be excluded by the bank.
From the bank's standpoint, they have no obligation and no right to take other people's money to bet on whether a person can turn around.
The best loan targets are the nobles and lords from various places, because these people can definitely provide some valuable collateral. Some squires and landlords can also do it, but most of these people are people who save money in banks, rather than needing to borrow money. people.
As for those civilians who have nothing, unless the people who open condominium banks have other ideas, they will approach this aspect.
But these ideal loan recipients have no need to borrow money, so what should we do?
At this time, it is up to the people in the banks to take the initiative and paint various beautiful visions. And this vision happens to be something that they cannot achieve with their original strength, so then the bank can intervene on the grounds of helping people realize their dreams. .
From the perspective of noble lords, it is all about building various infrastructures and setting up industries. It is as if they can easily sell a piece of rubbish and make a huge profit. If any benevolent policy comes out, the people will work hard to have children, work hard, and work hard. Pay taxes.
For ordinary people, it means starting a business and becoming a boss, turning a small workshop into a large factory, renting a house instead of buying a house, and upgrading a ten-square-meter dwelling into a thousand-square-meter mansion! It's like borrowing this money and turning yourself into a wealthy landlord in minutes. It's so cool. Have a great time.
In short, the bank's money is lent out and interest is earned; the borrower has accomplished his or her own great things, upgrading his quality of life and social status. It seems like a good situation where both parties win, but in fact, two key points are not taken into account.
First, are the things under the beautiful vision really necessary?
Second, does the person who borrowed the money really have the ability to repay the money in the future?
From the bank's perspective, with collateral and claims in hand, you can perform various aggressive operations and make sure you make a profit!
However, people who borrow money are essentially taking an advance on their future! If the future self is worthy of such a life of enjoyment and qualified to stand in that social status, then there is nothing to say. The advance here is nothing more than an advance.
It’s about enjoying it in advance.
But what if you don’t deserve it? Is everything just a shaming mentality at work?