Chapter 286 Bank and Treasury Bonds
If the Palestinian region is not allowed to enter a relatively peaceful period, the decline of commercial roads is an inevitable result.
But the appearance of Garris reversed this situation and brought a vitality to the dying kingdom.
Not only resist the attack of Saladin, but also brings more favorable products, making the interests of their family and the kingdom deeper.
In order to bind the relationship between his family and the kingdom, he has been for the pearl in his family, that is, his granddaughter looks like a husband.
At first he put his attention to Paladin beside Garris. After all, those who accidentally said one more thing, in fact, meant the first opportunity, which means that the fast person is one step.
But the Paladin group seems to be a firm celosphere, and it is related to doctrine choices.
Delphino naturally dispelled his thoughts and then looked like other characters.
The end result is that the kung fu is affordable, and Conrad has been figured out by him, and it is completely mixed as the representatives of the Venice.
And such a relationship means that he gets the speed of information one step faster than others, even a few steps.
After all, no matter how you dig your mind to collect information, it is better than a sentence of the rules maker.
"So, banks and national debt, how should I choose?" Delphino whispered to himself.
As an important investor who can be a kingdom, Delphino is naturally qualified to understand some information that ordinary people should not understand.
Among them, in order to support the finances of the kingdom and ensure that they can carry out large -scale counterattacks on Saladin, Garris intends to set up an institution for raising funds and investing additional investment.
This agency is called a bank.
Delphino spent a long time before understanding the so -called banks, that is, to do currency business, carry out the exchange of currency, and use the money of the store to lend while protecting the property of the store.
And such a proper profit, even if it has not really appeared before, he can realize the profits in it.
To put it bluntly, the Jews still took their own money to lend to others, and the bank's thing was to borrow the money of the store to borrow to others. In Delphino's view, this behavior is almost empty glove white wolf.
As for the exchange of currencies, this year itself is also huge profits. The currency circulation circulation between countries and regions is not consistent. Even if they are the same gold coins, some may be in the early 4G, some may only be 3G, and the difference in gold content is even more allowed to make the gold content even more allowed It is difficult for people to do it. It would be difficult for businessmen who were not engaged in this industry.
If these major business are unified in one industry, if you can't make a lot of money, then he can't think of any industry to make a fortune.
And the national debt is actually well understood.
Unlike the situation of the Central Plains dynasty in the East, Europe has borrowed money tradition or behavior since ancient times.
After all, according to the Central Plains dynasty, there is no king of the earth in the general heaven.
The whole world is from the emperor's house, so if the emperor goes to borrow money, this is a question about the supreme power of the imperial power, and the second is that no one can guarantee the court at all.
And more than that, the risk of the loan of Tianchao's loan is significantly higher than that of Europe, so almost any lending is accompanied by high interest.
Even for some people, lending itself has never expected to recover the principal, but instead take more.
But in Europe is not the same. It is normal for the monarch to have no money. In order to support the war, it is also common for the monarch to find someone to borrow money.
Although the European monarch also has the problem of relying on accounts, relatively speaking, in order to borrow money in the next time, they will not do too frequently.
In most cases, even if they are bankrupt or the accounts, they will be exchanged through other aspects of commercial privileges.
Of course, the most important thing is that there are too many European countries, and the authority of the monarch will be limited by other classes and monarchs. It is easy for merchants to think.
Therefore, for the monarch, interest is relatively high.
Therefore, Delphino can actually understand government bonds. After all, it has been issued once a land bond.
It is also clear that the good situation in the Kingdom of Jerusalem is basically the risk of relying on accounts. However, the problem is that the interest of this national debt is too low.
The annual interest rate of 20 -year Treasury bonds is 5%. This number that will be snatched in later generations will be broken. For Delphino, it feels like he is being robbed of money.
The annual interest rate of the 30 -year national bond is only 6.66%, and the national debt of the Jerusalem kingdom is a single profit, and there is no compound profit.
In other words, the non -renowned Treasury bond of the buying Kingdom of Jerusalem, assuming that everything is normal, not repurchased by reverse, or the state repaid in advance, which means that in addition to the one -time payment of all the principal in 20 years, it will be collected in this 20 years. To a interest that is equivalent to principal.
The 30 -year national debt is that in addition to paying the principal in one breath after 30 years, the principal has been received twice the interest.
Although this kind of investment returns seem to be quite real, if it is combined with time, it will make people hesitate.
In this era, twenty years are the time of a generation, but thirty years is half of a person's life. For this troubled world, people's eyes are always placed in the present. Once the eyes are long -term, they often eat various losses.
And even if it is thrown in later generations, is a 20 -year or 30 -year national debt, and is it really profitable?
You should know that 30 years before 2025, it was 1995, and what was the level of income and prices in 1995, and what level of income and prices in 2025?
Of course, today's society is still a precious metal physical currency, and it is also a gold and silver -based banknote. Compared with the inflation rate of the back market, the price of decades of decades is a normal state. But inflation.
Since Delphino's view, the interest rate of government bonds is too low, then it means that if you want him to buy a large number of government bonds ...
"You need other compensation, and the bank's shares are actually good." Delphino made up his mind and intends to talk to Garris before the news was reported.
...
It's not just Delphino who gets the news, but he is indeed the first to come to the door to talk about banks and Treasury bonds.
When the two messages of Treasury bonds and banks flow out at the same time, almost all of the brainless merchants will purchase Treasury bonds to understand the investment name of the bank.
This misunderstanding is a bit ridiculous, but it is also a blessing.
If the sea merchants also want to closer their relationship with the kingdom by buying a national debt, then ordinary people will almost not catch a cold for government bonds.
After all, this bond of bonds is meaningless for many people.
But it is not that no one can buy it. Loyal people like Yangnis, as well as other citizens who trust the group, also buy them in the case of power.
For them, in fact, they can't talk about that interest, but hope to help the church and the country go further.
For them, they are already together with the second kingdom.
In a sense, the behavior of buying government bonds is indeed supporting the Kingdom of Jerusalem to help the kingdom through this difficulty now. However, in addition to the sea merchants and Yannis, they purchased government bonds, and two of them were noticeable in this government bond transaction.
One of them is Isabella, almost all the private property he can use to buy national debt.
The other is Iraqi.
As a well -known opposition party, Iraqi was slightly smashed into a large amount of funds in the issuance of Treasury bonds for the purchase of bonds. It was a bit unexpected.
For this reason, even many people took the initiative to find him and want to ask what is going on.
After all, he is a little Iraq, but he still wants to be the leader of the opposition party!
Why not only surrender verbally, but also surrender?
The silver coin of this white flower is really evil for the kingdom!
You should know that when they are at this level, the uncle who owed debts is the uncle.
In this regard, Iraqi immediately shouted.
"False! Confused!"
"All day and night are thinking about the small profit in front of you, you can still do this? Can you still counterattack?!"
"Do you really think we are going to drive Queen Isabella down?"
"Sibila's woman is stupid, and Balian did not say that it was forcing her to abdicate."
There is no mistake, one, one, one, one, one, one, one, one 619, one book, one, one, one, one, one, one, a book!
"Do you understand without breaking four words?"
"If you don't understand, find your own rope and hang it yourself!"
"What is our purpose? The original clear source! Support the orthodox king's family!"
Then Iraqi was a little bit of advantages and disadvantages to demonstrate an answer.
If the kingdom really lost, then Saladin would not be able to leave them as a lord, and it might not even have no way to live.
As for Europe? There is no place for them.
Only when the kingdom wins can they live and moisturize.
And at this time, the kingdom must recognize their feelings anyway, at least it will not make them too embarrassing.
After all, the country is really lacking.
What do they oppose the party?
Is it really the kingdom itself? Is it really reform?
No!
They opposed that the kingdom did not return to their governance, and the opposition was that the reform dividend did not enter their pockets.
But if the kingdom is gone, then they really have no way to go.
Only when the country is still there, they are still influential, can they slowly seek the date of the East Mountain.
In this way, the affection is true. For a while, many brains are not very good. They have unpoved it and replaced them with large national debt.
Of course, what they didn't know was that as soon as they sent them away, Iraq wiped the sweat on the forehead.
In this way, the distribution of government bonds on his side is complete, and he can also send Garris on the back.
Right now, Tire's reforms and the maintenance of tens of thousands of troops are really incomparable.
Tariffs alone, or the production of state -owned workshops, can't bear the expenses at all.
This wave of government bonds does not know how long it can be supported. According to Iraqi, I know that if the war is not over in 1190, I am afraid that there will not be a large -scale borrowing wave.
I just didn't know who could squeeze the funds to borrow money for the kingdom.
After sighing again, Iraq took a fine printed national debt from his desk.
The above is written with 100 plus a symbol symbolic, which means that Iraqi's hand is holding a bond worth 100 on the principal.
A piece of paper that fluttered, it took him to change a pound of gold slightly in Iraq. It was really sighing that [prophets] obviously can be grabbed, but the result is still imposing interest.
After all, no matter how beautiful the paper is printed, but the feeling of light fluttering is impossible to disappear,
Thinking of the currency worth thousands of Deninar, I changed to a dozen pieces of paper, and Iraqi felt uncomfortable.
Compared to this fluttering paper, he still prefers to regard gold coins and gems as a symbol of wealth. It is actually good for silver cupware and candlesticks in the church.
Speaking of churches, I don't know how long I can do this bishop ...
...
The passage of time, cadres reserved, the army re -assembled, a large amount of funds were raised, and everything was ready.
On the other side, in the city of Jerusalem, in the Assort Mosque, Saladin calculates the capable force that can be called at hand, as well as the number of artillery, and the road of supply transportation.
Saladin is not a character who is good at war. Compared with the on -site command, he is more accustomed to starting from the general trend.
Being able to accumulate tens of thousands of troops, then there will be no troops, and it will be possible to provoke the enemy's internal turmoil.
If the king of Ma Feng has to gamble in the desperate situation, then Saladin is inclined to win the voucher.
The confrontation between King Ma Feng and Saladin, in the eyes of later generations, is just like who competes for. King Ma Feng died in 1186, Saladin died in 1193, and the two differences between the two.
Several times between the two, they both defeated.
In the Battle of Mongolia, Saladin lost losses, and the king of Ma Feng was almost captured in the Battle of Jacob Ferry. Generally speaking, Baldwin was going to win more.
This makes Saladin quite jealous.
It can be said that the military conflict between the two places Saladin in a dangerous land. If the king of Ma Feng and Baldwin V is not a very suitable heir, then Saladin can say that there is no solid heir at all.
The inheritance law of the Muslims in this era is quite rude compared to the eldest son system of the East or the European feudal jurisprudence.
After the death of Saladin in history, three civil strife appeared before and after. The first civil war in the sons directly torn the Ayubu dynasty.
From this perspective, it is that the king of Ma Feng is more dare to face death than Saladin, because after his death, the Kingdom of Jerusalem can still be unified, and once the Ayub dynasty collapsed, it is difficult to say how his future things develop.
(End of this chapter)