The Fourth Financial Crisis

Xijizhizhou, Shenxiao Tower.

A beautiful female monk with a young appearance was reading a beautifully bound mortal book in her hand with relish.

Although cultivators can transmit information extremely efficiently by placing spiritual thoughts on jade slips, and the effect is no less effective than direct brainwashing using a brain-computer interface, 99.9% of the population in the Kyushu cultivation world is still mortal after all, and many of them are relatively widely disseminated and printed. Books that have been used a lot are still made of ordinary paper.

Since jade slips cannot be copied and pasted in large quantities, in most cases they are only used to record important information such as spells and killing moves that can only be understood but cannot be expressed in words.

This woman who is reading a mortal book is wearing a gorgeous and mysterious purple dress, with black hair reaching her shoulders, dark eyebrows at the temples, and a lavender jade headband around her forehead. She seems to be a beautiful young girl. .

If someone happens to pass by this room, they can see a line of delicate characters written on the front cover of this book——

"Rebirth: President Lu Falls in Love with Me"

Just listening to the name, this book seems to be a very cliché novel about youth love and rebirth. There is nothing surprising about it, but when this novel appears in this special room, it seems a little out of place.

Because this special room is located on the top floor of the headquarters of the overlord of the West Ji State, the Shenxiao Sect, and is also the most central place in the entire West Jizhou - the living room of the head of the Shenxiao Sect!

The female monk who was reading the Otome romance novel with gusto was none other than Ye Wan, the second-level Nascent Soul monk who was the new head of the Shenxiao Sect and had been in the Immortal Sect for more than 500 years!

The head of the Shenxiao Sect usually did not allow anyone to disturb his room, so no one could notice that the contemporary female head of the Shenxiao Sect was obsessed with novels. However, when the death knell rang, the melodious sound still vaguely reached the room. The original smile on Ye Wan's face disappeared in an instant like ice and snow melting.

She casually threw the novel aside, then waved her hand gently and shouted:

"Return to the true form of Dharma!"

Before she finished speaking, a golden light shot out from her palm and was projected on the floor in the center of the room.

After being bathed in the spiritual light, the originally ordinary floor actually emitted a faint golden light on its own, creating patches of light and shadow in the void, from which familiar figures emerged one after another.

The expressions of these figures were very casual, as if they were just taking photos to commemorate them. However, their positions looked a bit sparse, as if the images of several people in the middle had been deliberately removed.

Ye Wan's eyes slowly moved on this ancient magic image, from Mr. Lu standing in the center of the crowd pointing out the country, to the obsequious young man Tian Daxiao wearing the robe of the Fire Cloud Sect, to the man whose appearance and style have not changed at all in 500 years. He, and the young version of Yufeng Sect's Supreme Elder Xiao Nan, who seemed not yet fully integrated into the discussion, finally focused their attention on the man who was following President Lu Yang obediently, looking a bit dull and pedantic. On young people.

"The little follower who followed Mr. Lu back then is no longer here..."

Ye Wan closed her eyes slightly and flicked the image, and the figure of the young Li Qingyang gradually dimmed.

"well……"

After a faint sigh, the living room of the head of Shenxiao Sect became quiet again.

…

Zijin Pavilion, Bailian Valley.

Tong Xingu, the supreme elder of Zijin Pavilion, is leading dozens of disciples to refine a large magic weapon.

But when the death knell rang, Tong Xingu's wrist trembled violently on the spot.

Then the refining masters of Zijin Pavilion saw a very ominous spiritual energy wave erupting from the main refining platform of Hundred Refining Valley, and the spiritual energy cycle formed by the Hundred Refining Fire also violently agitated.

Everyone hurriedly turned their attention to the main refining platform, only to find that the precious magic weapon being refined was instantly melted into a puddle of black mud by the out-of-control Hundred Refining Fire. The first-level weapon refiner suffered severe backlash on the spot due to the failure of the weapon refiner. In severe cases, he even vomited blood and fell to the ground.

The assistant next to Tong Xingu was shocked and quickly stepped forward to ask for instructions: "Elder Tong, what's wrong with you?"

He did not dare to accuse the weapon refiner Tong Xingu of his mistakes, so he had to use this insinuation to remind the other party to pay attention.

Tong Xingu, the great monk in the Nascent Soul stage who was responsible for controlling the Fire of Hundred Refinements, just rubbed his red eyes and said: "It's nothing, it's just that his eyes were smoked by the Fire of Hundred Refinements... Damn Li Qingyang, it took a lot of money to create Xunfeng." You still haven’t paid me the cost of the project!”

The second half of Tong Xingu's words was very quiet, and the assistant only heard the first half of his words, so he was choked by him and couldn't speak for a long time:

You are a great monk in the Nascent Soul stage, how can you still be smoked by the fire of hundreds of refinements?

It's not that deceptive, right?

So he carefully asked for instructions again: "This is the weapon refining material given to us by Arctic Cold Palace. It is worth hundreds of thousands of spirit stone coins. Do you think... do you need to rescue it?"

The ancient urn of childlike innocence said angrily: "If the refining fails, there is nothing I can do. According to the rules of our Zijin Pavilion, all these losses should be borne by the customers. Come here if they like, but get out if they don't!"

In the entire Kyushu cultivation world, perhaps only Tong Xingu dared to tell Bei Bei Han Gong, "Come if you love me, or get lost if you don't come." Even his weapon-refining assistant did not dare to tell Bei Bei Han Gong this.

"Elder Tong, do you think you should explain it to them-"

However, Tong Xingu had no intention of explaining to the customer. He completely ignored the backlash he had just suffered due to the failure of refining the weapon. He waved his hands without looking back and said: "Okay, I'll leave this to you first. I suddenly feel a little tired." , prepare to go back to the cave to rest for a while, don’t come over and disturb me!”

After saying that, Tong Xingu staggered away from Bailian Valley, leaving Bailian Valley in a mess with no one to clean up the mess.

….

Li Qingyang, president of the Lingshi Reserve Bank, passed away before the start of the extraterritorial battlefield trial.

This news not only caused an uproar among the big guys in the cultivation world, but was also like an earthquake with a magnitude of 18, instantly detonating public opinion in the entire Kyushu cultivation world.

Any cultivator with a little common sense in economics can see that the world of Kyushu cultivators today is only calm on the surface, but the financial crisis hidden under the water has actually been undercurrent for a long time, but it has not yet reached the critical point of eruption. No one expected that Li Qingyang, the mainstay of Xiuzhen's financial industry for more than 200 years, would pass away at this critical moment.

The debt crisis that broke out at Lowe's Commercial Bank at the beginning of this year has actually exposed many potential problems.

Luo's Trading Company is one of the top ten super trading houses in Zhongzhou. Although it is not as good as Pan's Trading Company, the richest man in Zhongzhou, it is definitely considered a large-scale cultivation chamber of system importance. Such a large-scale chamber of commerce is not operating well and is on the verge of bankruptcy. What is reflected behind this is The rate of return on Cultivation Capital continues to decline, and has almost completely wiped out the profits of many Cultivation Chambers of Commerce.

The Qingning Chamber of Commerce enjoys a variety of monopoly trade channels, and is supported by major leading chambers of commerce. Its internal governance is among the best in Kyushu. Even so, the return on total assets of the Qingning Chamber of Commerce is only a little over 5-6%. The return on total capital of other ordinary chambers of commerce is not even 2%.

When the return rate on total capital remains unchanged or even continues to decline, if the major cultivating forces want to keep the total profit level from declining so that cultivators can allocate no less cultivation resources than before, there are only two types left. choose:

Either go to war-torn areas like Donghuang State to lick blood; or increase the return on net assets, which is the so-called leverage.

However, leverage also comes with a cost.

The cost of leverage itself will make the already meager profits even slimmer, making the operation of the entire Cultivation Chamber of Commerce as dangerous as walking a tightrope. Whenever any unexpected situation occurs, the Cultivation Chamber of Commerce will lose its ability to repay its debts and will lose its debts. When debt begins to pontify, a debt crisis will inevitably break out.

The substantial bankruptcy of the Luo Chamber of Commerce was not entirely because Luo Hui, the president of the Luo Chamber of Commerce, was a gangster. More importantly, the Luo Chamber of Commerce originally started by handling non-performing assets for the Wuliang Sword Sect. The business will inevitably become a white glove for the big guys of the Wuliang Sword Sect to make money. Therefore, the business behind the Luo Family Chamber of Commerce has long been riddled with holes. It has fallen into a quagmire of borrowing new and paying back old, unable to extricate itself, and can only barely paper the facade.

Luo Hui, the president of the Luo Chamber of Commerce, finally chose to take a desperate risk and colluded with foreign forces in Huoyun State to completely empty out the headquarters of the Luo Chamber of Commerce, and then brazenly staged the ultimate showdown, threatening the Lingshi Reserve Bank with the bankruptcy of his own chamber of commerce. There was no other way.

Now that the situation of the Luo Chamber of Commerce is over, whoever becomes the boss of the Luo Chamber of Commerce will choose to transfer his family wealth first, and then directly leave the mess of the Chamber of Commerce to the Lingshi Reserve Bank.

Li Qingyang has always maintained a hawkish stance, which shows that Lingshi Reserve Bank actually has no choice.

The continued decline in the rate of return on capital in society cannot be reversed by the Lingshi Reserve Bank. The essence behind it is that the distribution system of the Jiuzhou cultivator world is seriously unfair. Cultivators occupy the vast majority of resources, while ordinary people can only live on the line of food and clothing. Struggling to survive. The extreme dichotomy between the rich and the poor will inevitably lead to cultivators making no money in any business. After all, 99.9% of the total population have no effective needs other than food and clothing. Serious problems will inevitably arise in the economic operation of the entire society. .

The actual risk-free interest rate of Lingshi Reserve Bank is already close to 0, and there is no room for further interest rate cuts.

Although the earth in the 21st century also faces this problem, the earth's technology is still progressing after all, and social productivity is still developing. Although the speed of development is getting slower and slower, it is at least faster than the Kyushu cultivation world that is completely stagnant, so the earth can still survive Use more and more intense quantitative easing to keep the economy alive.

The situation in the Jiuzhou cultivation world is different from that on Earth. No matter how miserable the lower-level mortals are, they have no ability to resist the cultivators. For the sake of merit, the cultivators are happy to raise mortals as pigs. It is precisely because of the different economic base that the Kyushu cultivation world faces The economic situation can be said to be more severe, and the consequences of arbitrary unlimited quantitative easing are also more serious.

It is also due to the extreme polarization between the rich and the poor and the sluggish demand of mortals that losses and unprofitability have become the mainstream situation of major chambers of commerce in Kyushu. However, cultivators who are not engaged in production have an endless desire for cultivation resources. This As a result, the operating conditions of all cultivation chambers of commerce are not very healthy. Even the Haiya system, which controls monopolized trade channels and is known as the richest in the world, Yang Lu does not know the specific profitability of it.

According to Lu Yang's observation, the actual profitability of the Haiya Chamber of Commerce has long been covered up by the complex financial and trade relationships among the branches in various states. I am afraid that even Han Fulai and Su Yuanfeng do not know what the situation is like in the Haiya Chamber of Commerce. , and now the annual book profits of the Haiya Chamber of Commerce are basically just accounting games.

Therefore, Luo's Trading Company only stood out, and there were definitely not a few Cultivation Chamber of Commerce facing similar problems.

Even the fiery sea cliff system may not be reliable!

If the Lingshi Reserve Bank saves the Lowe Commercial Bank today, it is estimated that hundreds of "Lowe Commercial Banks" will choose to self-explode in the next year. If things go on like this without restrictions, the Lingshi Reserve Bank will sooner or later become a source of support for cultivators. It is estimated that it will not take too long for the spirit stone coins to turn into golden coupons, so this hole must not be opened!

Li Qingyang had already seen this issue very clearly.

However, Li Qingyang has no solution, because the financial problems in the Jiuzhou Cultivation World are only superficial, and their essence is a problem of social distribution and the gap between the rich and the poor. Unless the gap between the rich and the poor in the Jiuzhou Cultivation World can be narrowed, the Lingshi Reserve Bank will die if it does not compromise. , compromising will aggravate the problem and will undoubtedly make death more ugly in the future.

Of course, there are only a few people such as Li Qingyang and Yang Lu who can see the problem at this level.

For most ordinary cultivators, they just feel that business is getting harder and harder year by year, and the sect's finances are getting more and more difficult. They must squeeze the mortals in the area harder and harder in order to ensure the original cultivation resources. supply. Even Qu Jing, a golden elixir monk of the Hanguang Sword Sect who has been in seclusion in a bitter cold place for many years, feels that mortals have become more and more "lifeless" and unable to create value for cultivators. Although they don't know what happened specifically, they can feel it. Something big is about to happen.

Especially after Luo's Trading Company was blatantly ruined, until today, all parties have not come up with a solution. It just turned Luo's Trading Company into a zombie, which seemed to be dead, but it seemed that it was not completely dead yet.

A large amount of physical assets of Luo's Commercial Bank have been divided up by creditors from all over the country according to the principle of territoriality. However, Lingshi Reserve Bank has only maintained a tacit attitude in the face of various armed debt collection actions by creditors. It seems to have acquiesced that everyone can get it back. How much money you spend depends on your abilities. The Lingshi Reserve Bank neither wants to nor has the ability to manage it.

Lowes Commercial Bank has high liabilities and also has many assets. However, the valuation of these real estate properties is inherently metaphysical. They seem to be very valuable, but they cannot generate cash flow, just like diamonds and gold in the famine years. They seem to be Nice, but useless. As for whether any secondary financial problems will arise after creditors take advantage of these useless assets, Lingshi Reserve Bank has not given any guidance and seems to just let everyone decide on their own...

Cultivators in Kyushu all know that Li Qingyang has a short lifespan, and they all hope that he can point out a future direction for everyone before he dies. However, they did not expect that Li Qingyang would spend his lifespan in silent retreat.

This sudden situation undoubtedly cast a shadow on the hearts of many cultivators.