parentshiftbook Chapter 156: Decline In Credibility Caused By Inflation [Please Subscribe, Please Subscribe In Full]
Chapter 156: Decline In Credibility Caused By Inflation [Please Subscribe, Please Subscribe In Full]
[One hundred Wen Ming Dynasty treasure notes can only be exchanged for 85 Wen copper coins now?!!]
[In other words, we, the emperor, and the Ming Dynasty have unknowingly defrauded thousands of people of the Ming Dynasty out of fifteen cents?!]
[If so, why don’t tens of thousands of people from the Ming Dynasty have their fifteen cents put into the treasury?!!]
[Damn it, someone actually dares to commit corruption under our noses?!]
[Or embezzled fifteen cents from tens of thousands of people. How big a huge sum of money does this add up to?!!]
After hearing Yan Changqing say that the current Ming Dynasty currency of 100 Wen can only be exchanged for 85 Wen copper coins, Zhu Yuanzhang's first thought was that someone was embezzling!!!
Thinking of this, Zhu Yuanzhang's eyes turned red and he couldn't help but laughed angrily:
"Okay! Good! Good!!!"
"He is really a great thief of the country!!!"
“It’s really the biggest corruption in this country!!!”
"You actually dare to embezzle fifteen cents of money from tens of thousands of people under our noses. If we, Mr. Zhu, don't find you out, confiscate your home, exterminate your clan, and implicate nine ethnic groups, we will take your surname!!!"
Yan Changqing, who was standing above the podium, was suddenly startled when he heard Zhu Yuanzhang's sudden words "193".
Wasn’t he talking about credibility just now?!!
Why did Zhu Yuanzhang, who was so good all of a sudden, say that he was the great thief of the country, the great greed of the country, and that he wanted to confiscate his family and exterminate his family, implicating nine ethnic groups?!
Is there something wrong with what he said?!!
Or is there something wrong with Zhu Yuanzhang’s understanding?!!
Thinking of this, Yan Changqing also directly asked:
"Why did your Majesty say this?!"
Zhu Yuanzhang immediately said what he had just been thinking.
However, in a few words, Yan Changqing understood Zhu Yuanzhang's thoughts, looked at Zhu Yuanzhang with a bit of laughter and said:
"Your Majesty, someone has embezzled fifteen cents from these tens of millions of people.
Zhu Yuanzhang immediately retorted with disbelief:
“How is it possible that no one is corrupt?!”
"Thousands of people in the Ming Dynasty are now literally without fifteen cents, but neither the private treasury of our emperor nor the national treasury of the Ming Dynasty has seen these tens of millions of fifteen cents put into the treasury. ”
"Such a huge sum of money, if it hadn't been embezzled, then where had the tens of millions of fifteen cents gone?!!
Zhu Yuanzhang's idea is very simple: one hundred articles per day means one hundred articles.
One hundred Wen Ming Dynasty currency notes can be exchanged for one hundred Wen copper coins!
Since now people can only exchange one hundred coins for eighty-five coins, and he, the emperor, and the treasury have not seen the remaining fifteen coins put into the treasury.
So the fifteen articles that were lost in the middle must have been embezzled by someone.
The thought of someone embezzling fifteen cents from millions of people in the Ming Dynasty only to consume the credibility of Zhu Yuanzhang and the Ming court to make up for the difference of the fifteen cents.
Zhu Yuanzhang simply wants to go out and kill people with a knife to investigate corruption right now!!!
There may be people who dare to commit corruption and let Zhu Yuanzhang take the blame.
But it doesn't matter, he already knows about it now, and soon this person, his family, and his nine tribes will be gone!!!
Zhu Yuanzhang said this!!!
Yan Changqing shook his head with a wry smile, turned around and wrote two new terms [inflation] and [deflation] on the wooden rice paper behind him.
Then Yan Changqing turned to look at Zhu Yuanzhang and explained:
"Maybe some people have embezzled in other aspects, but no one has embezzled the fifteen cents from tens of millions of people.
"At least in this era, no one can commit corruption in this way."
"The reason why tens of millions of people lost fifteen cents is mainly due to the [inflation] caused by Your Majesty."
inflation?!!
Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Xi, Zhu Fan, Zhu Di and other princes found themselves hearing a new term that they had not heard before.
“Mr. Yan, what do you mean by inflation?!”
Prince Zhu Biao couldn't help but ask.
After all, the credibility of the Ming Dynasty is related to the survival of the Ming Dynasty, and this so-called [inflation] seems to be the reason for the decline of the credibility of the Ming Dynasty.
In this case, how could Zhu Biao not be anxious.
In fact, not only him, but also the princes including Empress Ma, Zhu Di, Zhu Fan, and Zhu Di were eager to find out what the word "inflation" meant.
And Yan Changqing did not mean to continue to sell things off, but explained directly:
“First of all, we need to know that gold, silver, copper and Ming Dynasty currency notes are the general equivalents that are used to circulate and trade in the Ming Dynasty today.
"At the same time, we need to know that more money is not better within a certain period of time."
"To give you the simplest example, now I have ten glass beads in my hand and one hundred-liter Ming Dynasty currency."
"His Royal Highness the King of Chu and His Highness the King of Qi each have 500 Ming Dynasty currency notes, so you can buy five glazed beads each.
"But now suddenly, His Royal Highness King Chu and His Highness King Qi each have one thousand Ming Dynasty currency notes in their hands, while I still only have ten glazed beads in my hand.
"You all want to buy glass beads at this time, so can you still buy glass beads with one hundred Ming Dynasty currency notes?!!"
King Zhu Zhen of Chu hesitated for a while and then replied:
"It should be okay. Didn't Sir say one hundred Wenbao notes?!!"
Qi King Zhu Shu also nodded and said:
"Yes, if we have a thousand currency notes in hand, it should have nothing to do with sir."
Yan Changqing smiled and said:
"Haha, if you each have one thousand Wenbao notes in your hands, it means that one of you can buy all ten glazed beads in my hand."
"But what about the other guy?!!"
Zhu Shu said with an indifferent expression:
"Then the other person won't buy it."
Yan Changqing suppressed the smile on his face and said seriously:
"What if glass beads are food?!!"
"What if His Highness King Qi is now a common man waiting to buy food and go back to save his life?!!"
"At this time, can His Highness still say that he doesn't want to buy it?!!"
Zhu Shu was stunned for a moment and then replied:
"...
"How to buy it? His Royal Highness the King of Chu asked for one hundred Wenbao notes and bought them all."
Yan Changqing looked like he was breaking the casserole and asking the question.
"Buy it at an increased price! Sixth Brother can buy one with 100 Wenbao banknotes, so I can buy one with 200 Wenbao banknotes, right?!!"
Zhu Shu also answered subconsciously.
Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Cang, Zhu Fan, Zhu Di, who were listening to the question and answer between Yan Changqing and Zhu Bo, all had thoughtful looks on their faces.
At this moment, they already vaguely understood what Yan Changqing meant by [inflation] just now.
Yan Changqing, who received Zhu Su's last answer, looked at Zhu Yuanzhang, Empress Ma, and the princes Zhu Biao, Zhu Xi, Zhu Fan, Zhu Di and other princes present and said:
"As shown in the exchange with His Highness King Qi just now, because His Highness King Chu and His Highness King Qi have more money, the number of glazed beads I have has not increased, and they must all realize my Liu Li Zhu’s words.
"Then the only way is to increase the price!!!"
"I priced it at 100 Wenbao notes, but you have to take the initiative to increase the price to 200 Wenbao notes before you can buy it."
"Of course, it is actually more likely that before you took the initiative to increase the price, I had already raised the price of the glass beads from one hundred Wenbao notes to two hundred Wenbao notes.
"This phenomenon of spending two hundred Wenbao notes, but only being able to buy something that could be bought with one hundred Wenbao notes, is called depreciation of treasure notes!!!"
"For example, now a hundred cash banknotes can only be exchanged for eighty-five cash coins, which means that the treasure banknotes have also depreciated.
"In other words, the current One Hundred Wenbao note is not as valuable as the previous One Hundred Wenbao note."
"The current 100 Wenbao note is only worth the original 85 Wenbao note. It is not that someone embezzled the 15 Wenbao note."
After Yan Changqing explained this to 1.2 degrees, Zhu Yuanzhang finally understood what Yan Changqing meant when he said that no one had embezzled the fifteen cents of millions of people.
“When the overall price level in Ming Dynasty society experienced a comprehensive and sustained increase, and the currency began to depreciate on a large scale, it was called inflation.”
"The reason for inflation is that there is too much money for circulation and transactions in Ming society."
"To put it another way, His Majesty has issued too many Ming Dynasty currency notes, which exceeds the number of Ming Dynasty currency notes required for current circulation and transactions in Ming Dynasty society!!!"
"So it caused inflation, which led to the depreciation of Ming Dynasty Tongbao banknotes, which in turn led to a decrease in the original purchasing power of Ming Dynasty Tongxing banknotes."
"In the end, millions of people in the Ming Dynasty lost their trust in His Majesty and the credibility of the Ming Dynasty because of the decline in the value and purchasing power of the Ming Dynasty's currency."
Yan Changqing concluded.
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