Rebirth starts from e-commerce

Chapter 426 The Granary Run Crisis

For the financial industry, the most effective way to smash this cake is to destroy its credit system.

People are willing to put money in the bank, because they believe that the bank is the safest.

They believe that as long as the country is still there, there will be no shortage of money in the bank.

But there are exceptions. In some special periods, people are often misled by rumors in rural areas where information is relatively occluded.

At the beginning, only a small number of people believed the rumors, and these people went to the bank to withdraw their money.

But the cash deposited in the rural bank was not much, and this group of people took all the money from several banks in the town in an instant, making it impossible for the people behind to withdraw money.

This makes more people believe that the bank may really have no money.

This will lead to more people flocking to the bank.

However, compared to the whole country, false rumors in a small place can be easily extinguished.

Carloads of cash were escorted by the armed police and flaunted through the market.

You can withdraw as much as you want without fear of running out of money.

The people took the money home, fearing it would be stolen, and slept with their arms around each other every day.

After a while, the money was sent back one by one.

Now, the people are willing to put their money in the granary. In addition to higher interest rates, it is also based on trust.

This trust is also built step by step. At the beginning, I deposited [-], then [-], and finally deposited all my net worth.

Deposit and withdraw at any time, instantly arrive at the account.

In this way, the trust of the people was built step by step.

Everything was going well at first, and more and more people put their money in, and the plate got bigger and bigger.

The funds stored in the granary even surpassed many small banks, and it can be said that they are more trustworthy than these small banks.

However, before everyone had time to celebrate, some so-called experts began to appear on the Internet to popularize the risks of the granary to the public.

I don't know where there is a bunch of information saying that the money stored in the granary may not be returned.

"When you store your money in the granary, you put it in Luo Xiu's pocket."

"Have you ever heard of a Ponzi scheme? Granary is a typical Ponzi scheme. It has no ability to make profits. Instead, it uses the money of new investors to pay interest to old investors, making it look like it is very profitable. Make money, so that more people can invest their money in it.”

"That's right, the first to run did make money, but people's greed will make you think that you are not the last one, and you will lose everything as a result."

"Before he explodes the thunder, you should run quickly, it will be too late."

"If this is not a Ponzi scheme, why is his interest rate so much higher than that of the bank?"

……

Not all of these rumors are spread by people who want to smash the market.

Many people who don't have much money themselves become jealous after seeing people around them depositing money in granaries.

If you don't have money, you will naturally have a thought that looks down on others.

So they decided in their hearts that the granary was a scam, and that those who saved money into the granary must lose everything.

As a result, rumors began to spread on the Internet under the fuel of some caring people and the blind obedience of more ignorant people.

……

At the rice ball meeting.

Li Shan slammed a stack of materials on the table and said angrily, "Are these people fools? They even said that our granary is a Ponzi scheme. How are we like a Ponzi scheme?"

"That is, without a monthly profit of 20% and an annual profit of more than 300%, are you ashamed to call it a Ponzi scheme?"

"Think about it a little bit, use your brain, and you all know that this is impossible."

"The flow of our funds is clearly written, so why don't they take a look?"

……

"Cough..." Luo Xiu interrupted them and said seriously, "Complaining won't solve any problems. I came here to hear your solutions, not your complaints."

Most of the users on the Internet are ordinary people, and they don't know much about various financial knowledge.

They also don't have much time to study what is monetary funds and what is a Ponzi scheme.

And even they don't really believe these rumors in their hearts, but what if?
What if the money is really not returned?
Moreover, although the interest rate of the granary is a little higher than that of the bank, it is not too high, and it is far from reaching the point where they are willing to take risks.

The final result may be: it is better to believe what you have than to believe what you have not.

People have withdrawn cash from the granary.

"What's the ratio of deposits and withdrawals in Granary recently?" Luo Xiu asked.

"Since the establishment of our granary, the amount of deposits has been much greater than the amount of withdrawals, but since the day before yesterday, the reversal has taken place, and until yesterday, the amount of withdrawals was even twice the amount of deposits."

In the conference room, everyone fell silent when they heard the value.

The most worrying thing came.

In addition to higher interest rates than banks, granaries are most attractive to users because of their flexible deposit and withdrawal.

Depositing money for a fixed term or buying bonds can also have a good interest rate, but users need to mature to withdraw the money.

And storing money in the granary is like a survival period. You can use the money in it for shopping and consumption at any time, or withdraw it directly.

But that's just an illusion the user sees.

In fact, in order to obtain the high interest rate of the bank, the granary will divide the money in it into several shares.

Some deposits for one year, some deposits for half a year, and the rest for three months, one month...

Keep only a small amount of checking savings in the account.

As long as users do not make large-scale cash withdrawals, it is equivalent to enjoying the flexibility of current savings and the high interest rate of regular savings at the same time.

If a large number of users withdraw cash and take out all the flexible funds in the account, there will be no money to withdraw.

The money is actually safe, but it is stored in the bank, it has not yet expired, and it cannot be withdrawn.

But the user only knows that his money will not come out.

At this time, a run will occur.

The entire credit system of the granary will also collapse due to the run.

Users no longer trust the granary and demand cash withdrawals one after another.

A run can bring down a single bank or even an entire banking industry, let alone a small granary.

To deal with the risk of a run on township banks, all they need to do is escort truckloads of cash from the city and make a show of it in the market, so that the public can see with their own eyes that the bank has plenty of money.

And how does an online bank like Granary deal with this risk?
(End of this chapter)