Chapter 102: , Bonds-gold mines

I paused for a moment, and when no one was talking, Constantine asked by name: "Mr. Kennedy, you are an expert in the financial field. What do you think of this problem?"
"Prime Minister, IMHO, even so, we can't do it! The Bulgarian government's international credibility is not enough to be believed, unless a consortium is willing to accept the order! Otherwise, the sale of 20-30 million is the limit! Secretary of the Treasury Kennedy affirmed
His judgment, everyone did not refute. In this era, the United Kingdom and the United States issued debt securities, they must support the consortium, otherwise they will not sell! Ordinary people don't have much money at all, and their purchasing power is impossible to talk about! !!
那么 "What about raising interest rates?" Constantine asked impassively.
Kennedy thought for a while and said, "According to my initial estimate, if: 7% annual interest rate, it can sell about 20-30 million; 8% annual interest rate, about 40 million sales; 9% annual interest rate, about 5 sales About 10 million; annual interest rate of 10%, about 65 million can be sold; 11% annual interest, about 90 million sales ... "
Constantine interrupted him suddenly and said, "Mr. Kennedy is fine, so don't talk about it later, presumably even if we know, we can't afford the interest! Or just say, what is the highest rate we can bear! "
"The interest rate of 10.5%, plus the current handling fee rate of issuing bonds of no less than 2.5% internationally, the interest rate we bear has actually exceeded 13%! Once this line is exceeded, then issuing bonds It's worth the money !!! "Kennedy said without hesitation
"It's almost twice the loan interest!" Chekov sighed
"The account cannot be calculated like this! On the surface, the interest on the loan is indeed lower, but what about the additional conditions? In the long run, in fact, the international loan is more expensive to pay!" Kennedy explained
Uh ...
After some research, the cabinet still decided to issue bonds. Although the interest is a bit higher, it does not involve sovereignty! !! As long as the country has completed industrialization, fiscal revenue will surely increase by that time, and it will slowly return in the future. !!
Issuing national debt is not an easy job. Although future generations of national debt are rushing to buy, the people in this year are poor! !! No matter what the interest is, you have to have money to buy it!
Treasury Secretary Kennedy, now embarrassed. Although the government has decided to issue national debt, the specific amount and high interest rates are all calculated and verified by the Ministry of Finance and then reported!
"Mr. Minister, all the personnel are in place and ready to start!" The secretary reminded
Kennedy still has a discipline. In order to get a reasonable number as accurately as possible, he invited all Bulgarian mathematicians and financiers to participate in the calculation together!
Hearing the secretary's reminder, Kennedy stood up and said, "Let's go now, don't let everyone wait!"
In the parlor's living room, experts and scholars gathered together in pairs and whispered.
"Stout, my friend, do you know that the Ministry of Finance invited everyone today? What's the matter?" Ray-Hallman asked in confusion.
"Well, aren't you teasing me? I'm doing mathematical research. Are you doing economics or a consultant from the Ministry of Finance? You don't know, how could I know!" Staud glared at him One glance, dissatisfied
"Hell, I will just ask casually! To know that under normal circumstances, the Ministry of Finance and you have nothing to deal with, this time I suddenly asked you to come over, I thought you knew?" Ray-Hallman said depressed
Uh ...
Kennedy's arrival interrupted the communication and the scene quieted down.
"Good afternoon, gentlemen! I'm glad to meet you here. Your time is precious. I'll make a long story short! I invite you to come here for the issue of government bonds. The secretary will send you the information! You can browse first Just a moment, but the content must be kept secret! "Kennedy said cautiously
Received the file, everyone went through it carefully, and the more the content, the more shocking! After a while, after seeing everyone watching it, Kennedy said earnestly:
"Everyone knows the preliminary situation, and I will take care of everyone in the next work !!! But please note that this matter must be kept secret. Once leaked, the consequences will be unthinkable!"
Everyone nodded in unison, and everyone who sat down was subsidized by the government. The theoretical research done at the end of the 19th century was public welfare, but there was not much other income! Especially in a small country like Bulgaria, it is difficult to be a consultant to a company, and it is difficult to brush a sense of existence in the newspaper. Everyone is more interested in industry than theory! !!
It is not enough to invite experts to participate. Kennedy is very clear that the opinions of these experts and scholars can only be used as a reference. The Ministry of Finance itself must calculate them separately, and the final results will be verified!
Ferdinand is not very interested in the interest rate calculated by the Ministry of Finance ~ EbookFREE.me ~ Anyway, he knows that it cannot be too low! Where are the international interest rates of this era? How can unsecured borrowing be cheap?
For the gold standard, Ferdinand still has a headache, and the gold reserve is not easy! If it is possible, Ferdinand would not mind changing to the credit standard, of course this can only be thought about! In the current situation, whoever issues credit currency, it is estimated that inflation can compete with Zimbabwe!
The Balkans have been the main gold producing areas in Europe and can be traced back to prehistoric-ancient times. What is the gold reserves in Bulgaria, Ferdinand can no longer remember, anyway to the 21st century, still exporting gold to China.
Anyway, at the end of the 19th century, the Bulgarian economy was so large in history. In order to make up for the deficit in foreign trade, gold has always been out of the state.
Ferdinand, which is short of money, is now targeting the gold mine. You must know that the previous acquisition of the Austrian-Hungarian bank's assets in Bulgaria includes minerals in many regions, but because the time to start is too short, it has not yet reached the scale Mining.
Ferdinand is not lacking in gold mining technology. After all, United Mining Co., Ltd. has been operating for several years, and the technology and equipment are the most cutting-edge in the world!
Alas, the mining industry in this era did not have much technical content, the internal combustion engine had not been popularized, and there were not many machines that could be used, most of which depended on manpower. Mining is not a good job. It is labor-intensive and dangerous.
Jeff Ferdinand estimates that before the Austrian-Hungarian Bank did not conduct large-scale mining, there were not enough workers. After all, mining is a high-risk job, but Bulgaria has a limited population, and a few people will recruit miners!
卡尔 "Carl, are you aware of the gold mines owned by Royal Bank?"