"Your Highness, you are the only one who can save me now!"
"I am still young and want to make achievements on the battlefield!"
Yang Xuan hugged Zhu Biao's thigh and burst into tears.
"I only know how to regret it now, it's too late!"
Zhu Biao snorted and wanted to shake Yang Xuan away.
"Your Highness!!!" Yang Xuan cried like a ghost and howled like a wolf, hugging him tightly but not letting go.
Although it's a bit embarrassing, which one is more important than your head?
Yang Xuan was really regretful at this moment. How could he forget that the trouble came from his mouth?
Before, he was still vigilant in his heart!
It seems that life has been too comfortable in the past two years, and due to Zhu Biao's trust, his vigilance has dropped too much.
"Okay, okay, you get up first!" Zhu Biao looked at Yang Xuan with helplessness on his face.
"I don't." Yang Xuan shook his head like a rattle.
"Why are you acting like a child?" Zhu Biao really didn't know whether to laugh or cry.
"Your Highness, I am just a child!" Yang Xuan said.
Zhu Biao was stunned for a moment, this seemed to be correct.
Because Yang Xuan grew up quickly, he looked like a boy of eighteen or nineteen. In addition, he usually behaved very maturely, so Zhu Biao never regarded him as a child.
Now that he said this, he realized that Yang Xuan was only fourteen years old now, eight or nine years older than himself.
"Okay, get up first and tell me why this treasure bill deceived people."
"Speak clearly so I can help you." Zhu Biao said.
"Okay, Your Highness!" Yang Xuan immediately let go of Zhu Biao's thighs and stood up from the ground with a bang.
Seeing this, Zhu Biao was speechless for a while.
This guy is simply a scoundrel!
I don’t know if it’s still too late to take back what I just said?
The two sat opposite each other, and Yang Xuan also put away his impropriety just now.
Looked at Zhu Biao seriously.
"Your Highness, before explaining, I would like to ask your Highness a few questions."
"You said it." Zhu Biao nodded.
"Does the imperial court prepare reserves in advance before issuing treasure banknotes?"
“What are reserves?”
"It's the money that people use to take treasure notes and exchange them for gold and silver."
"The imperial court does not accept treasure banknotes, how can it be allowed to exchange gold and silver with the imperial court."
"That's it, Baoqian is a trap!"
"Yang Xuan, please speak up." Zhu Biao said with a frown.
"Your Highness, this treasure note is, to put it bluntly, just a piece of paper. It has no value, just because the court said it is valuable."
"With the issuance by the imperial court, more and more treasure banknotes will be circulated among the people."
"But the growth rate of everything in the private sector is far slower than that of Baoqian."
"Whether it's grain, cloth, or anything else, the growth rate cannot be compared with treasure money."
"When the value of private banknotes in circulation far exceeds the value of private materials, then a phenomenon will occur. "
"The value of treasure banknotes has been greatly reduced."
"I call it inflation."
Yang Xuan said slowly.
What is it like to talk about economics with the ancients? Just ask Yang Xuan today.
"But now, the value of a consistent treasure banknote is no different from one tael of silver!" Zhu Biao said puzzled.
He received an orthodox Confucian education and did not understand economics.
"But one tael of silver cannot be exchanged for a lot of treasure money!"
"I believe that most people will choose silver when they have a treasure banknote and a tael of silver in front of them."
"Nowadays, there are still some places that don't accept treasure money at all."
"Where?" Zhu Biao asked with a frown.
"Borrow." Yang Xuan replied.
"how do you know?"
"I just went yesterday..." Yang Xuan immediately covered his mouth in the middle of his words.
Grass!
You spilled the beans!
"What did you say? Did you go to a brothel yesterday?" Zhu Biao looked at Yang Xuan, a little angry.
He was planning to marry his sister to him, how could he do this?
"It's not just me who went, King Qin also went." Yang Xuan muttered in a low voice.
"What, the second brother is also here?" Zhu Biao was surprised.
His Highness King Qin, I am not betraying you... Yang Xuan said in his heart, and then nodded.
"Not only that, but I paid for it for him." Yang Xuan added.
"This bastard!" Zhu Biao said with hatred.
"What's going on?" Zhu Biao asked.
At that moment, Yang Xuan told what happened.
He also explained that he went to the brothel just to adjust his mood, not what Zhu Biao thought.
"I'll settle the score with you later!" Zhu Biao did not believe Yang Xuan's explanation.
"Your Highness, how much money did I pay for King Qin?" Yang Xuan glanced at Zhu Biao cautiously and whispered.
"Money, what money?"
"It's the money I paid for His Highness the King of Qin in the brothel!"
"I didn't see it. How do I know if what you said is true or false?"
Hearing Zhu Biao's words, Yang Xuan opened his eyes in disbelief.
"Why, do you want me to tell my little sister about your visit to the brothel?"
Damn it!
Yang Xuan was shocked again.
I didn’t expect that you would be such a prince!
Looking at Yang Xuan's expression, Zhu Biao felt proud.
Fortunately, okay, with King Qin's treasure money in his pocket, it's not a loss... Yang Xuan comforted himself silently.
Because the brothel did not accept treasure notes, Zhu Feng gave all the treasure notes he brought to Yang Xuan.
However, Yang Xuan was determined to suffer this loss.
"Let's continue talking about the treasure notes!"
"yes!"
"Your Highness, I checked the history books and found that the value of Jiaozi from the Song Dynasty and the treasure banknotes from the Yuan Dynasty were very stable in the early stage, but in the later period, the value dropped off a cliff." When it comes to business, Yang Xuan is still very serious.
"Take the treasure banknotes of the Yuan Dynasty as an example. This one is relatively close to us."
"In the early days, the Yuan Dynasty court had prepared reserves."
"The treasure banknotes issued can also be exchanged for gold and silver with the imperial court."
"But in the middle and late period, due to various reasons such as official corruption, misappropriation of reserves from various places, and the uncontrolled issuance of treasure banknotes by the court, the value of treasure banknotes rapidly depreciated."
"In the end, I was so hard that I couldn't even wipe my butt."
"Our Ming Dynasty issued treasure banknotes, but we didn't even have a reserve fund. We were not allowed to exchange gold and silver with the court, forcing people to use treasure banknotes."
"Isn't this a money grab?"
"Don't look at the value of treasure banknotes now. That's because there are not many treasure banknotes in circulation among the people."
The Ming Dynasty Baobao was issued in the eighth year of Hongwu, which is only about a year ago.
So not many were issued.
"I believe that within a few years, the value of Yiguan Baobao will be equivalent to 900 yuan, or even 800 yuan, or even lower."
"In the end, it was completely reduced to the point where no one could use it."
After listening to Yang Xuan's words, Zhu Biao was still a little confused.
This is not Zhu Biao's stupidity. It is mainly his first contact with economics and it takes time to digest.
"Is it really as serious as you say?" Zhu Biao said with a solemn expression.
"More than that, the imperial court's issuance of treasure banknotes now relies on the imperial court's prestige and His Majesty's prestige."
"But this prestige will turn into resentment against the imperial court in the hearts of the people as the treasure depreciates."
"What ultimately affects the national destiny of the Ming Dynasty!"
…
