Chapter 2388 "The Magician's Apprentice" (Part 1)

In 1797, Goethe published a collection of poems called Fantasia, which described a story in sonnets written in German.

There was a magician's apprentice who took advantage of the old wizard's absence to show off his magic. However, he only knew the spell to start the magic but did not know how to end it. The final result was that the flood overflowed everywhere, and in the end the old wizard

Came back and cleaned up the mess.

Also in 1797, the "XYZ Incident" occurred between France and the United States. Due to this incident, the relationship between the two countries quickly soured, even reaching a state of quasi-war. In fact, in 1796, the United States and France were at war because of the Jay Treaty.

At that time, Britain and France were still in a state of war, and the "Jay's Treaty" was a treaty of friendship and trade signed by Britain and the United States. Later, France announced the suspension of all diplomatic relations with the United States.

After the xyz incident, the United States signed a peace treaty with Tunisia to destroy the Berber pirates. The USS Constitution was launched in the same year, with the intention of not paying the "annual payment" as in the past. In 1798, it established a territory in Mississippi and announced in July that it would break off trade relations with France.

, then a trade treaty was signed with Sweden, and the person responsible for negotiating this matter was John Adams, Jr., the son of John Adams.

Gustavus II, the "Lion of the North", launched the Thirty Years' War, but to bankers and traders, Sweden is more famous for not the king's great achievements nor the classical furnishings in the palace, but

The birth of the world's first central bank. Due to the extreme shortage of food in Sweden, local farmers mixed tree bark into bread to extend the shelf life of the bread. However, Sweden's economy is not without its merits. With agriculture not as good as that of the United States and France, Sweden

It relies heavily on fishing and copper and iron mining, with copper as currency and iron as an important commodity in export trade.

King Carl Gustaf X wanted to realize Gustaf II's dream of commercializing Sweden and gave him the task of establishing a bank after a foreign businessman gave him a glowing description of the Dutch banking system.

His name is Pam Church. Unlike bankers who are good at investing in mortgage loans, he is a master of innovation. When Germany's economy was destroyed by the Thirty Years' War, the price of copper was also greatly depressed, and at the same time, it caused

The Swedish dollar, which was denominated in copper, collapsed.

Another more practical problem is that copper is too heavy compared to countries that already use gold and silver to mint pocket-sized metal-like currencies. The innovative way Palm Church originally came up with was to store giant coins in a Stockholm bank vault.

Swedish round metal sheet, and then provide paper bills as proof of payment.

In short, they are things that can be understood as paper money. After the end of the American War, Continental coins were almost useless paper. Alexander Hamilton came up with a method called "revolving door", that is, to stop using Continental coins as currency. The United States

The federal government established the National Monetary Union, abolished the currency issuance rights of the states, replaced the severely depreciated Continental currency with the new federal currency, and replaced the original state and county public debt with new, longer-term unified treasury bonds.

But there is copper as a reserve in the Swedish Central Bank. What is in Hamilton's bank? The U.S. dollar is actually not paper, but made of cotton and flax. During the period when the United States and France were at odds with each other and Britain and the United States were on good terms, Jefferson asked the United States to

The ambassador to Britain, Rufus King, went to talk about Britain's debt and border issues before the war. The specific content of the conversation is not clear, but soon after, Hope Bank began to raise funds for Hamilton's European bond issuance in Amsterdam.

John Adams served as ambassador to the Netherlands during the American War, and it was he who made the Netherlands and France stand together against England. Therefore, the British regarded him as the second most evil figure after Washington, and sent him to the Netherlands during his mission to Europe.

The assassins were hotly pursuing him. His son's visit to Europe coincided with the easing of relations between the two countries. It was precisely because of this that John Adams Jr. met and married the daughter of the American Minister to Britain during his short stay in London.

.

Louisa had a bad temper and was plagued by illnesses all year round. No one knew why John Adams Jr. fell in love with her.

Anyway, John Adams once said: I must study war and politics, so that my son can have the opportunity to study mathematics, philosophy, natural history, warship building, navigation, commerce and agriculture, so that his children can learn painting, poetry, and music.

, architecture, sculpture, textile art.

As for whether the son of John Adams Jr. really goes to study art, it is not foreseeable whether he can become the president of the United States like his grandfather. From this point on, the relationship between the national debt issued by the U.S. federal government and the repayment currency began to form.

Inextricable bond.

When this bill was passed in the United States, the U.S. Congress failed to pass it in four votes. Jefferson believed that it violated the U.S. Constitution and was a centralization of power, but Washington forcibly passed it.

Accepting the US dollar made of cotton and linen as a currency also requires a vote in the British Parliament. This is not a bank note or a voucher, but a credit currency. The US dollar was not linked to gold until the Bretton Woods system. For example

The newly minted franc can be exchanged for gold and silver, and the franc itself contains gold and silver.

But the UK is also issuing banknotes, and people have accepted that paper is money, so hey, why not do that?

Then I saw that the Danish krone had to be printed desperately. The right to issue the Danish krone does not belong to the Danish Bank. Denmark does not have a central bank.

There are many ways to default on debt. When Newton was the director of the mint, Britain planned to reduce the silver content, but Locke rebutted it by saying that "private property is sacrosanct." The deficit can also be washed away by printing money.

, but everyone in the 21st century knows the consequences of doing so.

Hamilton himself was very upright. He never thought of seeking personal gain through his position in the government, nor did he provide inside information to his friends.

The federal government prohibits financial officials from participating in any speculation in federal securities, but former Treasury Secretary Doerr would rather resign than to participate in various speculations.

Among Doerr's creditors was Henry Knox, the "sitting" U.S. Secretary of War. The main speculative object of Doerr and his associates was the stock of the Bank of the United States, which was issued at $100 per share. In September 1791

Prices were as high as $185 per share before the monthly decline.

The escape of Louis XVI occurred in June 1791. When the news reached the United States, it was probably September. At that time, the stock price of the Bank of the United States fell to 130 US dollars, and later rose to around 170 US dollars. Then the Whiskey Rebellion occurred in the West.

, as we all know, liquor tax is the main source of tax revenue in the United States. Coupled with the Northwest Aboriginal conflict, the stock price of the Bank of the United States has been fluctuating. At the end of 1791, it was rumored that the Bank of the United States was going to acquire the Bank of New York. At that time, the capital of the United States was Philadelphia, but New York also had

Following the precedent set by the capital, if the rumors were true, the share price of the Bank of New York would soar. Doerr began to buy the shares of the Bank of New York and shorted it. Anyway, he would definitely make a profit whether it went up or down.

At present, apart from the pig iron and shipbuilding industries, there are few manufacturing industries that can be called craftsmen in the United States. Most people make a living from agriculture, and a small number of people living in cities are mostly small shopkeepers and servants.

, lawyers, priests and "brokers".

The small shop owner is a bakery owner like Jacob, and his start-up capital was Scamander's loan from the bank using silver bird and snake eggs as collateral.

This reminded her of the document she once saw in Severus's desk. It was given to him by Lucius's friend, and he gave it to Severus. It probably meant that the booming American real estate market would

It will bring about a violent upheaval and many people will be homeless.

A house that is a home to some people is just a collateral in the eyes of bankers. There may be some bankers just like the table where Georgiana stayed before, drinking and chatting.

They need loans to circulate funds and earn interest, but they cannot lend money to people for no reason. Jacob is starting a business, but the risk is too great.

But everyone needs a home, and every family should have a house, a big yard, a dog, and two children.

This idea is the American Dream.

Queenie's idea is very simple. Find a man who has a good heart and knows how to cherish her to get married and start a family. For those who have everything they want, like the steel tycoon Carl, he doesn't know how to cherish, let alone

Just like Jack.

He bought the Heart of the Ocean, but he was also insured. If it was lost, the insurance company would compensate him. He didn't even try to find Rose. Soon he married another woman and moved on with his life.

She still remembered what Jack said to the others when they were playing cards at the beginning of the movie.

When you have nothing, there is nothing to lose.

Unless you buy Tang Ti insurance, as long as you live to the end, you can get all the insurance money.

Maybe what Rose wanted was not "true love" but "treasure", let alone the blue diamond that Louis XVI once owned.

In her life, even for such a short time, Pomona wants to enjoy the feeling of being cherished.

It's a pity that she is not Arianna, nor is she Lily Potter. If it were not a dream, she would just be a kind-hearted witch who is short and fat and very popular with children.

How she wanted to just sink into the tub and sleep forever.

But she still sat up, just like Scarlett, the heroine of "Gone with the Wind" said, after all, tomorrow is still a new day.
Chapter completed!