Vol 3 Chapter 6: , Gold reserves

How can I get enough gold?
This is the biggest problem facing the Bulgarian government. As long as there is enough gold, enough banknotes can be printed to satisfy the market circulation.
It can promote business development, and it can also raise enough funds for the government to solve the financial crisis!
Ferdinand is here to stop. If you have to make everything clear, what else do you have to do?
As for the latter, he believes the Ministry of Finance will know how to do it! Anyway, it is also Bulgaria's most outstanding financial personnel. Who has gold in Bulgaria now, can they not know?
After thinking about it, Ferdinand decided to speak up. He said solemnly: "In addition, the loan business still cannot be stopped and must be implemented in the first half of this year! From the perspective of the international economic situation, from 1893 to the present, the world It has been prosperous for almost six years.
According to the analysis of the current situation, there are some abnormalities in the Russian stock market recently. Some people may think that it is time to harvest wheat. The fluctuations in the stock market in the future are likely to trigger a financial crisis in Russia.
Now our economy is tied to the Russians. Once the Russian financial market is turbulent and an economic crisis breaks out, it will be difficult for us to survive alone! "
After hearing Ferdinand’s words, everyone’s expressions have changed drastically. In recent years, the capitalist world economy has witnessed a high rise. Bulgaria is no exception, and its economy is growing rapidly.
Now someone suddenly says that the economic dividend has passed, and the economic crisis is about to break out. How can you not worry about it?
Especially Bulgaria is still at the time of large immigration. After the outbreak of the economic crisis, the unemployment rate has soared, and the employment placement of immigrants has become even more difficult!
The Chancellor of the Exchequer Kennedy was the first to react and said: "Your Majesty, what is going on in the Russian stock market is yet to be understood in detail. Under normal circumstances, the Russian economic crisis will erupt, and it will spread to Bulgaria within two or three months at most. Export trade will be hit hard!
If the economic crisis may break out in the near future, then we must accumulate emergency funds, and the time to open the stock market must also be postponed!
Otherwise, international capital is likely to be eyeing Bulgaria too. With our current situation, there is no energy to fight a financial war with them! "
Ferdinand nodded. The main purpose of opening up the stock market is to raise funds for the railway construction behind Bulgaria, but this must be done in a good economic environment!
Otherwise, let alone raising funds, even if it is a gift of cabbage, it is estimated that no one wants it!
As for fighting the financial war, don't be funny, it's just putting gold on your face!
As far as Bulgaria’s current financial market is concerned, it is completely undefended now. If it is not open, it will be nothing more. Once open, international capital will not be allowed to come and go freely.
Oh, it's not that bad! At present, Bulgaria's financial market has not yet grown up, and no matter how much you search, there will not be a few drops of oil in the meat!
Ferdinand said with a smile: "Then let it go and discuss it after the economic crisis has passed! It's time to raise funds now. An economic crisis is a crisis and an opportunity!
The last time the economic crisis broke out, our strength was still too weak to get a share of the pie. Even so, wouldn't it take the opportunity to bring down several competitors?
If we can seize this opportunity, it would not be a dream for us to struggle for ten or eight years! "
Bulgaria robbed the biggest piece of cake in the Balkan War, and it was inseparable from the economic crisis of 1890 to 1893!
The arms race + economic crisis, whether it is Serbia, Greece, the Ottoman Empire, or Romania, has suffered heavy economic losses. Among them, Serbia and the Ottoman Empire also caused domestic conflicts!
Even the Austro-Hungarian Empire did not hide. In Ferdinand’s takeover battle, a financial crisis was induced, and it took a long time to get over!
...
As soon as the cabinet meeting was over, the Ministry of Finance became active. If you want to make a fortune in the economic crisis, the prerequisite is that you must have sufficient funds!
Now Kennedy is holding an internal meeting of the Treasury Department, worrying about gold.
"Everyone knows that we have been constrained by insufficient gold reserves and have not been able to issue enough currency for circulation in the market.
There are still a large number of foreign currencies in circulation in the Bulgarian market, and the government cannot prohibit it. Pound, franc, ruble, mark, krona... basically the mainstream currencies in the world can be found here.
As a result, a lot of our wealth has been earned away in vain. At the same time, it also limits our domestic commercial development in order to solve this problem.
At the cabinet meeting just now, Your Majesty has decided to issue additional currency to tide over the financial crisis. Our Ministry of Finance must solve the problem of gold reserves!
Now, if you have any suggestions, let them talk and discuss. This matter is related to the future development of Bulgaria. It is better to solve the currency issue sooner rather than later. It is a huge victory! "
The director in charge of currency issuance thought for a while and said: "With the current gold reserves of the National Bank, the currency we issue has reached the limit. If we want to continue to issue more currency, we can only find a way elsewhere!
The Balkans has been the main producer of European gold since ancient times, and there should be a lot of gold circulating among the people. If all the folk gold can be collected, part of the problem should be solved!
Earlier, during the Balkan War, the military had seized a lot of gold, but this batch of gold should give us an emergency, otherwise the problems we are facing now will be more serious! "
Kennedy shook his head and said, "Difficult! Most of the folk gold is scattered, and most of it is a variety of craft products. Apart from other factors, the purchase price alone will be much higher, and the gain is not worth the loss!"
The Director of the Taxation Department thought for a while and said: "In fact, Bulgaria is not without gold, but it is not in the hands of the government! As far as I know, Royal Bank and Union Bank have a large amount of international exchange business, and they both store a large amount of gold in their hands. !"
"About how many?" Kennedy asked eagerly
As long as there is, the Treasury has a way to get it out of their hands. It is nothing more than an exchange of interests. What Kennedy is now worried about is that they have too little gold reserves!
The Director of Taxation thought for a while and said: "The two companies have at least a dozen tons of gold, or even more. In recent years, they have also purchased a few gold mines, and the gold they mined is stored and not sold! "
After listening to the specific numbers, Kennedy's face looked a lot better. This number is much larger than he expected. The Bulgarian country’s gold reserves are now no more than 30 tons.
If this part of gold is included in the currency reserve, at least another 300 or 400 million lev currency can be issued to the market, which will greatly alleviate the plight of Bulgaria's current insufficient currency flow!
Kennedy thought for a while and said, "Send someone to talk to them right away, and all terms are easy to discuss!"
"Forget it, I'll go talk to them myself!"
Thinking of the terrorist background of these two banks, Kennedy still decided to go personally to be safer. In case he was screwed up by his subordinates, he still had to clean up the mess.
Behind the Royal Bank is Ferdinand, and behind the United Bank is more than half of the Bulgarian business community, none of them are easy to mess with.
Although they are under the jurisdiction of the Ministry of Finance, it does not mean that they will listen to the Ministry of Finance, especially when they involve large enough interests!
In the spirit of seeking softness first, Kennedy was the first to find Union Bank. After all, compared with Ferdinand, the Bulgarian business community is still a bit easier to provoke, at least they still want to give the Minister of Finance face to face!
If you go to the Royal Bank first, the person in charge is the Minister of the Palace Karl, if the talk goes wrong, you can directly blast him out, it is not impossible!
At this time, the president of United Bank Victor was already waiting eagerly, waiting for someone from the Ministry of Finance to come!
Looking for someone to help, Kennedy had a very good attitude and said apologetically: "Mr. Victor, I am very sorry to bother you this time!"
Even if Victor knew what Kennedy was coming from, the businessman's nature made him continue to pretend to be confused, made a flattered expression, and smiled hard and said: "Where! Mr. Kennedy can visit, it is really an honor! I don't know! Your Excellency is coming this time, so what can you advise?"
Kennedy smiled and said, "I don't dare to be a teacher, but I actually came to you for help this time!"
Victor pretended to be surprised and said: "Oh! What can I help you with? Your Excellency, as long as it is within my abilities, I will never refuse!"
After hearing Victor's words, Kennedy's face darkened, and he thought: Old fox, why would you never refuse within the scope of your ability? It is better to say that it is out of the scope of ability to avoid talking!
"Your Excellency can definitely help in this matter! Our Treasury Department wants to purchase a batch of gold from your bank. Mr. Victor must help in this matter!" Even though he knew that Victor was only polite, Kennedy still Directly explained
Victor's face changed slightly, and he said with some embarrassment: "Dissatisfied with Mr. Kennedy, the Ministry of Finance wants to buy gold. If the amount is not large, I can immediately agree!
If the amount is too large, please forgive me for helplessness. Now the board of directors has decided to shrink money and increase gold reserves to deal with the crisis! "
Kennedy's face changed slightly, and he asked doubtfully: "What crisis? With your bank's strength, be so careful!"
Victor hesitated and said: "Dissatisfied with Mr. Kennedy, this involves commercial secrets and cannot be disclosed below! In short, in this crisis, we at Union Bank must go all out!"
Kennedy was taken aback for a moment and thought to himself: Is it because people in the business community have already noticed something and are now preparing for it?
Tentatively asked: "Could it be that the economic crisis is about to break out again?"
Victor's face changed drastically, and Kennedy knew he had guessed the answer!
"Your bank is indeed well-informed. There is no fluctuation in the market now. How do you judge that there will be an economic crisis?" Kennedy continued to ask
After thinking for a while, Victor said, "Since Mr. Kennedy already knows, I'll just say it.
In the international financial market, there is something wrong with the recent capital flow of the Jewish capitalists. It seems that they have to act again.
You know, basically when the group of vampires move, there will be no peace in this world. Although I don't know who they are looking at again this time, for the sake of caution, we decided to contract strategically so as not to be cannon fodder! "
After hearing Victor's words, Kennedy knew that if he did not pay a big price this time, Union Bank would not come up with gold! After all, the safest measure to deal with the financial crisis is to hold a large amount of cash. What is more insurable than gold now?
Kennedy said straightforwardly: "Mr. Victor, let's not go in circles. The purpose of my visit this time is to include the gold stored by your bank in the currency reserve. What conditions can you mention!"
Victor didn't think about it, and said directly: "Since Mr. Kennedy has said it straight, I won't be a bit tricky. Put our stored gold into the currency reserve, yes!
However, our Union Bank must also participate in currency issuance and have a certain right to speak! "
Kennedy's face sank, and he pretended to be angry and said, "You are taking advantage of the fire!"
Victor shook his head and said, "No! This is not our responsibility. The main responsibility for the current situation should be the responsibility of the government! If the national bank under the government can afford it, We also enjoy the important task of issuing currency!
But now, the currencies in Bulgaria are already varied. In order to develop business, we have to spend a lot of money to buy gold and exchange it!
Since the National Bank does not have the ability to undertake the heavy responsibility of issuing currency, why can't it be handed over to us?
Mr. Kennedy, please believe that with our participation, the Bulgarian government will never have a headache due to insufficient currency flow! "
Now Kennedy is hesitating whether or not Union Bank will add to the currency issuance. And once Union Bank joins, then Royal Bank will definitely join, and the government's voice in it will definitely be greatly weakened!
"How much gold can you use as a reserve?" Kennedy asked coldly
Victor smiled and said, "As much as the government pays, we will pay as much. Rest assured that we will not take advantage!"
Kennedy's face changed drastically. This is where he took advantage of the fire, and he was clearly prepared! Dare to shout "As much as the government provides, we will provide as much", which also means that the strength of United Bank has far exceeded their estimates!
At this moment, Kennedy had already scolded the National Bank people to death.
A commercial bank that has just been established a few years ago, the gold reserves it can put out can be the same as the government's reserves, which is enough to show how incompetent the National Bank is!
Thinking about it, he suddenly discovered that the gold reserves of the National Bank seemed to be solved by the government, and they seemed to have not contributed.
At this moment, Kennedy has decided to completely reorganize the National Bank. A bank that can only waste national resources and cannot create benefits is a crime to keep!