The Fourth Financial Crisis

After three days of continuous flight, the Flying Spirit Boat finally arrived at the headquarters of the Infinite Sword Sect.

As the highest-level cultivation holy land in Zhongzhou, the headquarters of the Wuliang Sword Sect is obviously not something that cats and dogs can enter casually. The Feitian Spirit Boat of the Haiya Chamber of Commerce is hovering over an isolated peak on the outermost edge of the Wuliang Mountains, and other cultivators who visit the Wuliang Sword Sect , waiting together for the disciples of the Wuliang Sword Sect to verify their identities one by one.

Li Qingning grew up in Lingshi Reserve Bank since he was a child, and is naturally very familiar with the headquarters of the Infinite Sword Sect.

Seeing that the peaks of the Wuliang Mountains were already in front of her, she immediately excitedly pulled Yang Lu to the window of Lingzhou and introduced the historical stories of these peaks to Yang Lu in turn. For example, this peak was killed by the head of Ma Tianyi. The place where the Supreme Elder of the Shenhuo Sect lived, and the solitary peak was the ancient battlefield where Senior Bo Nanke challenged the leaders of the four major sects, etc...

The Wuliang Sword Sect is one of the oldest sects in the Kyushu cultivation world.

Inherited from the Middle Ages to the present, the Wuliang Sword Sect has a history of over 100,000 years.

After a long time of baptism, the peaks of the Wuliang Mountains are like thick history books, recording the tens of thousands of years of historical changes of the Wuliang Sword Sect. Even if Li Qingning has selected key points to introduce, it cannot be explained clearly in a short time.

When talking about the history of the founding of the Wuliang Sword Sect, one has to mention the worldview and historical outlook of the Kyushu cultivation world.

According to the general consensus among cultivators in Kyushu, the foundation of the entire universe is a chaotic world called the [Infinite Sea of ​​Void]. In the Infinite Sea of ​​Void, the most basic concepts of time and space have lost their meaning. It can be said to be a truly "impossible" world. "Knowing the world", many material worlds, including the Jiuzhou cultivation world and the demon world, were born from this boundless sea of ​​​​emptiness, just like the waves of the boundless void sea, they are constantly born and then annihilated.

This peculiar worldview is somewhat similar to the Earth's "Dirac Sea" theory.

But this world view is not a figment of cultivators. It is said that when a great monk in the Nascent Soul stage casts a spell with all his strength, he can even use spiritual energy to briefly break the void and reveal the true appearance of the boundless sea of ​​void. Even monks in the Qi Refining Stage can use the help of supreme inheritances such as the [Six Path Sword] to slightly borrow the powerful power of the Infinite Sea of ​​Void.

Yang Lu has never seen a Yuanying stage monk so far, so he can only remain cautious and skeptical about such legends.

According to ancient legends in the world of cultivation, the world of Kyushu is the material world that was born from the infinite sea of ​​​​void many years ago. From the birth of Kyushu to the outbreak of the first heavenly crisis, this historical period is called the ancient era.

Historical records of ancient times are so sparse that no one even knows how long this period was.

It is said that in ancient times, the ancient immortals who ruled the world of cultivation in Kyushu all lived in the ancient heaven. They personally control the current Jiuzhou Heavenly Way and punish the mortals and cultivators who violate the Heavenly Way. After cultivators in the Nascent Soul stage ascend during the day, they will also become members of the ancient heaven, overlooking all living beings on the surface of the earth.

However, a million years ago, the first Heavenly Crisis broke out, and the demon army invaded the Jiuzhou Cultivation World. The ancient heaven was completely destroyed due to the war between immortals and demons, and its remains fell into the boundless sea of ​​void. The one in the Kyushu Cultivation World was far bigger than the moon. The "moon" in "Moon" is said to be the original site of the ancient heaven.

After the war between immortals and demons, all the ancient immortals disappeared.

From the end of the first Heavenly Dao Crisis to the outbreak of the second Heavenly Dao Crisis 7,000 years ago, this period is called the Medieval Era by cultivators. The seven major sects of Kyushu are all cultivation forces established in the Medieval Era.

The medieval era was very similar to the world of cultivation described in the earth's cultivation web articles. Cultivators used spiritual stones to trade, monsters and cultivators fought fiercely, and major cultivation forces divided and combined. Everyone lived a pastoral and pastoral life, killing people and seizing treasures. There is no such messy knowledge as cultivation economics, sect management, and fairy formation logic. It is as if cultivating immortals does not require using your brain at all, and you only need to learn how to kill people.

Starting from the Middle Ages, after monks in the late Nascent Soul stage arrived in the Immortal Realm, they could no longer walk in the mortal world for a long time. Within a few years of breaking through the void, the Immortal would be rejected by the world of Kyushu and forced to ascend to the Immortal Realm during the day.

The founder of the Wuliang Sword Sect founded the current Wuliang Sword Sect after achieving the realm of immortals and before being forced to ascend in the daytime.

The medieval era was finally ended by the Second Crisis of Heaven.

From the end of the Second Heavenly Crisis to today, the world of Kyushu Cultivation has gone through more than seven thousand years. In this short period of seven thousand years, the world of Kyushu Cultivation has undergone earth-shaking changes.

Almost all cultivators can clearly feel that the Heavenly Way of Jiuzhou seems to have begun to "collapse of rituals and music."

For example, cultivators suddenly discovered that the original business model of using spiritual stones as currency could no longer work. Rounds of spiritual stone financial crises swept through the cultivation world like a tsunami, knocking down and rebuilding the entire economic system.

Another example is the Matthew Effect in the world of cultivation, which is as unstoppable as a snowball. All the originally numerous sects have been completely absorbed by the seven major sects of Kyushu, and the independent small sects have almost disappeared; the original strength of the monsters is only slightly inferior to that of the cultivators. , like an avalanche, the defeat became more and more miserable, and was soon killed in a nature reserve to survive.

For example, traditional cultivation sects like Tushoufang soon began to generate huge centrifugal forces due to unreasonable mechanism design, and finally collapsed one after another. In order to better manage the sects and govern the economy of the jurisdiction, the theories of cultivation economics and cultivation management have flourished. With the development, the management of sects has begun to become scientific and systematic, and the incentive and restraint mechanisms of Xiuzhen sects have become more and more like a joint-stock company. The social order of Xiuzhen has entered a new era of systematization and theory.

There are even a few people who believe that the world of cultivation has actually begun the fourth era.

In the view of these cultivators, the third financial crisis five hundred years ago had a far-reaching impact, far exceeding the first financial crisis in the Yellen era and the second financial crisis in the Bo Nanke era. The importance of the financial crisis can even be compared with the first crisis of heaven that ended the ancient times and the second crisis of heaven that ended the medieval era.

In order to save the third Lingshi financial crisis and establish the fourth generation of cultivation monetary policy, Lu Yang, the founder of Lingshi Reserve Bank, carried out drastic reforms. During Lu Yang's administration, many unprecedented "earth styles" appeared in the Kyushu cultivation world for the first time. Concepts and financial institutions, such as commercial banks, Lingshi Reserve Bank, stock exchanges, central bank balance sheet theory, quantitative easing, standardized futures exchanges, composite price index, etc...

Even in the view of Yang Lu, who is also a time traveler, the cultivation currency reform led by Governor Lu can be called a crazy financial adventure.

According to the normal financial development history of the earth, the central bank was originally born out of ordinary commercial banks. However, after the establishment of modern countries, some powerful commercial banks were slowly given by the state, or actively acquired the administrative function of currency issuance, and gradually evolved into central bank.

In fact, there is no very clear boundary between the central bank and commercial banks. For example, the Federal Reserve can be considered an independent banking legal person jointly funded by dozens of private banks.

Because of this, both the Federal Reserve and the People's Bank of China can actually make profits by using the interest rate differential between their assets and liabilities, just like commercial banks, and the total amount of this profit can reach tens of billions of dollars.