When the Duke heard Emperor Hua say this, he was even more happy, and the atmosphere on both sides was very good.At the end of this pleasant meeting, Wang Zhankui placed a cheque for 100,000 pounds sterling, the common currency of Europe in this era, in the pocket of Duke Maxim Kanunnikov's blazer.The Chinese emperor still has a good impression of Duke Maxim Kanunnikov, and the most important thing is that this Duke Maxim Kanunnikov knows some financial knowledge."
Your Majesty, wouldn't it be inappropriate to send money," asked Princess Katrina Kaaf on the way back.President Meng smiled: "Sending money, no matter when, it will not be inappropriate." ”Catherine also nodded yes, "If he doesn't want it, he can return it, but if we haven't sent it, I don't know if we can send it out, and if we can send it out, of course it's the best." ”"Lady Catherine and Your Majesty are getting more and more in common opinion."
Princess Katrina Kafu smiled and punned.Catherine blushed and stole a glance at Princess Katrina Kaf, who didn't look angry."
The issue of money is not the point, after I talked with Duke Maxim Kanunnikov today, I feel that he is also very aware of the current international situation, if Tsarist Russia wants to get rid of the shadow of the Russian-Turkish war as soon as possible, it must maintain stability, at least, in the absence of foreign aid, do not want to fight with China alone, and even if there is foreign aid, it is best for them to avoid facing China head-on."
Emperor Hua said firmly, "Otherwise, the Russian monetary system will collapse first." ”After the collapse of the gold standard, the capitalist countries generally implemented a monetary system in which paper money was circulated, and although the currencies of various countries still stipulated that they had gold content, paper money could not be cashed.The implementation of the banknote circulation system has opened the door for governments to over-issue banknotes and implement inflationary policies.Since then, the monetary systems of capitalist countries have ceased to be relatively stable.Inflation and sharp fluctuations in exchange rates have plunged the monetary and financial sectors into increasingly turbulence and chaos.At this stage, the status of Huayuan is actually about the same as that of the British pound, but the trade volume of China in Europe has not yet risen to the level of equality with Britain.After the unification of the Chinese Emperor, the greatest achievement of the establishment of the Chinese Yuan was to establish the dominant position of the Chinese Yuan, and in the entire Pacific region, the establishment of the international monetary system centered on the Chinese Yuan, which is actually a kind of gold exchange standard, the Chinese currency is not in circulation, but other governments are allowed to exchange the Chinese Yuan for gold to the banks of the Chinese State, and the Chinese Yuan has thus become the main reserve asset of the countries that trade with the Chinese State.However, due to the deterioration of relations with Britain and France, the Chinese yuan system gradually began to waver.The gold coin standard is the earliest form of the gold standard monetary system, also known as the classical or pure gold standard, which has been in vogue since 1879.Free minting, free convertibility, and free import and export of gold are the three major features of the monetary system.Under this system, the Chinese government stipulates the gold content of the currency in the form of law, and the comparison of the gold content of the two currencies is the coinage parity that determines the basis of the exchange rate.Gold can be freely exported or imported into the country's borders, and in the process of importing and exporting, a coinage-price flow mechanism is formed, which plays an automatic role in adjusting the exchange rate.The exchange rate under this system does not fluctuate much due to the effect of seigniorage parity and the limitation of the gold delivery point.The bullion standard is a disguised gold standard that uses gold bars for international settlement, also known as the gold bar standard.Under this system, the state stores gold bullion as a reserve; The exchange of various currencies in circulation with gold is restricted and is no longer freely convertible, but when necessary, it can be exchanged for gold bullion in paper money in the prescribed limited quantities to the central bank of the country.It can be seen that this monetary system is in fact a gold standard with restrictive conditions.The gold exchange standard is also a gold standard in China that maintains foreign exchange in countries with a gold bar standard or gold coin standard, and allows the national currency to be exchanged for foreign exchange without restrictions.Under this system, only bank bills are circulated in China, and bank bills cannot be exchanged for gold, but can only be exchanged for the currencies of countries that implement the gold bar or gold standard.Most of the European countries of this era also had this system.Countries with a gold exchange standard maintain a fixed ratio of their currencies to the currencies of another country with a bullion or coin standard, and maintain the stability of their currencies by buying and selling foreign currencies without restrictions.China is trying to cool its overheated economy through monetary tightening, and France and Russia have just ended a period of inflation and returned to the gold standard.Both China and Russia have experienced massive capital inflows, resulting in balance-of-payments surpluses that have allowed both countries to absorb the world's gold as currency at an astonishing rate.This point is also the key to the emperor's belief that he can maintain peace with Tsarist Russia in the near future, and the emperor is gambling, using the attitude of Tsarist Russia, betting on the strategic action that the emperor is about to launch against Britain and France, which is quite dangerous, because at this time, it can be said that China is not in the same place.Other countries on the gold standard had to sell their domestic assets in an effort to preserve their dwindling gold reserves, creating a worldwide monetary tightening.However, the Chinese Emperor knew that the gold standard was untenable, and only by comprehensively building the status of Huayuan, building China's international influence, and stabilizing the situation in Huaguo could we ensure that Huayuan's transition to the monetary standard system was completed.Sooner or later, the gold standard will collapse, not this century, it will be the beginning of the next century, and the emperor believes that the main reason for the collapse is that the growth rate of gold production is much lower than the growth rate of commodity production, and gold cannot meet the needs of the expanding commodity circulation, which greatly weakens the basis of gold coinage circulation.Gold stocks are unevenly distributed across countries.The United States, Britain, Germany, France, and Russia account for two-thirds of the world's gold stock.Most of the gold stock is in the hands of a few powerful countries, which will inevitably lead to the destruction of the free minting and free circulation of gold coins, and weaken the basis of gold coin circulation in other countries.If a world war broke out, gold was concentrated in the buying of arms by the participating countries, and the free export and cashing of bank bills were stopped, which eventually led to the collapse of the gold standard.The impact of the collapse of the gold standard will be revealed at once, and the collapse of the gold standard system will have a tremendous impact on international finance and even on the world economy: it will open the door to the general currency depreciation of various countries and the implementation of inflation policies.This is because after the abolition of the gold standard, in order to make up for the fiscal deficit or expand the arms war, various countries will indiscriminately issue inconvertible paper money, which will accelerate recurrent inflation, which will not only destroy the circulation of currency and credit systems in various countries, but also aggravate the contraction of export trade and the deterioration of the balance of payments of various countries.Emperor expects that it will also lead to sharp fluctuations in exchange rates, impacting the world exchange rate system.Under the gold standard, the internal and external values of currencies are generally the same, the comparison between currencies is relatively stable, and the exchange rate system also has a relatively solid foundation.However, after the circulation of paper money in various countries, the process of determining the exchange rate has become complicated, and the changes in supply and demand caused by the balance of payments and inflation play a decisive role in the exchange rate, thus affecting the exchange rate system and affecting international monetary and financial relations.Under the background of the economic crisis, in order to facilitate inflation, the export of unsalable goods will be reached and the economic recovery will be accelerated.After the cancellation of the peg, the exchange rate of the currency in circulation in the world led by Huayuan fluctuated frequently, impacting the relatively balanced world exchange rate system in the past, resulting in the destruction of the credit system, and gold, as a special commodity with both monetary attributes, commodity attributes and financial attributes, in the above context, countries will naturally choose to reserve gold instead of taking gold to exchange for paper money printed by other countries at will, and naturally the price of gold has risen, or it is not the price of gold that has risen, but the depreciation of money.Princess Katrina Kaaf agreed with the Chinese Emperor's opinion, but did not know whether this Duke Maxim Kanunnikov could play a role in Sino-Russian relations as the Chinese Emperor envisioned.t1706231537: