Powell nodded, and knew it was time to go, so he said: "I do not deny the support of the Chinese people under the rule of the East China Government for the East China Government, but according to our British research on China, the Chinese people have three characteristics. The first is the lack of independent thinking and the herd sentiment is very serious. If many people do the same thing, more people will follow up without considering whether this matter is beneficial to them; the second is selfishness, only considering their own personal interests, but lacking a sense of responsibility to the collective and the country; the third is short-sightedness, only paying attention to immediate interests, but lacking a long-term vision."

After hearing this, the other consuls fell into thinking. After a while, Clermondo said: "Sir, I admire the British research on China very much, but is this related to your plan!"

Powell smiled and said, "Of course, even if you say that, I can consider it as you and everyone else who agree with our research results."

Clermondo said: "It can be said that."

Powell said: "Okay. Everyone knows that before the East China Government, the Qing Dynasty used silver as the main currency, and the silver currency was measured by weight rather than the prescribed face value. This was a very backward monetary system, but this also caused the Chinese people to be used to trust the silver currency. At the beginning of its establishment, the East China Government also carried out a currency reform, but this time the currency reform did not replace metal currency with paper currency, but changed silver into silver coins with denomination value. Did the elders of the East China Government not understand the historical trend of replacing metal currency? Of course not, because the East China Government at that time was not strong enough in all aspects, so the elders of the East China Government could only compromise the currency habits of the Chinese people. Although the East China Government also issued paper currency, until now, paper currency can only be used as a supplement to silver coins."

Jackson said: "But the decision of the East China Government was very correct. Replacing silver with face-to-face silver coins was satisfied, which satisfied the Chinese people's habitual trust in silver currency and regulated the currency system. Issuing paper money as a supplement to silver coins can gradually build confidence in paper money among the people. It can be said that the East China Government is wise and pragmatic, and the East China Government can develop its current momentum, not just because of force."

Powell nodded and said, "Yes, if it continues like this, without external interference, in another 10 or 20 years, the East China government may be able to complete the currency reform without the public's awareness. However, the economic development of the East China government has far exceeded their silver reserves, so it is forced to introduce the "sin tax" to force the use of paper money by administrative means to replace silver coins. Of course,

Under normal circumstances, there will be no surprises. Although the Chinese people still lack sufficient trust in paper money, with the government's credit guarantee, they will forcibly allow the people to accept paper money. With the economic development momentum of the East China government, as long as the banknotes are not issued too much, it will not have much impact on people's lives. After 3 or 5 years, the people will gradually get used to using paper money and have enough trust in paper money to complete this currency reform."

Clermondo said: "So how should we interfere with the East China government's monetary reform!"

When Clermondo asked this, Powell felt ecstatic. Because this question showed that Clermondo had become interested in his plan, so he said: "This time we are taking advantage of the habitual trust of the Chinese people in silver currency. When the East China government launched the 'squad tax', we can first promote among the Chinese people. If the East China government confiscates all the silver from the people, the banknotes will eventually become a pile of useless waste paper. Quickly exchange the banknotes in their hands for silver coins, otherwise it will be too late. With the short-sighted Chinese people, the banknotes will be

The characteristics of this statement will definitely be believed. Then we will arrange another person to go to the bank to exchange silver coins, which will cause a situation where many people exchange silver coins. According to the herd sentimental psychology of the Chinese people, most people will definitely join the ranks of exchange silver coins. In this way, it will cause a run of silver coins. If the bank's silver coins are exchanged, but the people still have a large amount of paper money, it will eventually cause huge social turmoil, and may cause a sharp economic recession of the East China government and even completely shake the ruling foundation of the East China government."

After hearing this, everyone fell into deep thought. After a while, Jackson said: "Sir, I admit that your plan is very implementable, but you said just now that the currency of the East China Government is still mainly silver coins, and paper money can only be used as a supplement to silver coins. Even if there is a large-scale exchange of silver coins, it is probably difficult to cause a silver coins run. In addition, the East China Government is not a government that implements a free system, and it completely controls the news media. Therefore, once there is a silver coins run, the government must immediately interfere, and dissuades the people's exchange through publicity, economic, administrative and other means. With the current trust of the East China Government among the people, it can completely discourage most of the people and control the situation from the beginning of the silver coins run without letting the situation get out of control."

Powell said: "You are right. According to our information, the seigniorage of the East China Government will be piloted in the four cities of Qingdao, Tianjin, Jinan and Shanghai. I admit that this is a very wise approach, but it also gives us the opportunity because there is Shanghai. The East China Government's rule in Qingdao, Tianjin and Jinan has been nearly 10 years, and its full rule over Shanghai has been less than 4 years. However, the foundation of the East China Government's rule in Shanghai is still relatively weak, and the people's trust in the East China Government is relatively low, so we have the opportunity to do something in Shanghai. In Qingdao, Tianjin and Jinan, we really have little chance of causing trouble."

Jackson said: "Sir, you are really honest. I admire this very much, so I listen to your following and how to make trouble in Shanghai."

Powell smiled and said, "Thank you for your praise. We have two advantages in causing trouble in Shanghai. First, Shanghai is one of the few cities in the East China government with more paper money than silver coins. There are more paper money than silver coins, so there is a situation of silver coins running. Secondly, Shanghai is the city with the most foreign-invested enterprises in the East China government and is also the city with the strongest strength. If we can organize all foreign-invested enterprises in Shanghai and ask the banks to exchange silver coins together, it can not only speed up the silver coins running, but also give the people of Shanghai a demonstration effect. In this way, no intervention measures are used by the East China government. Because of the selfishness of the Chinese people, they will not believe in the government's propaganda, and will only think about converting the banknotes in their hands into silver coins as soon as possible to protect their interests and avoid losses."

Primakov frowned and said, "What if the East China Government banned silver coins at this time! If I were the decision maker of the East China Government, I would definitely do this."

Powell was quite disdainful of the Russians' suggestions, because only a domineering and autocratic country like Russia would adopt such a ruthless and coercive method, but he still patiently explained: "First, in this way, their government credit will go bankrupt, and more importantly, the people will completely lose their trust in paper money. The East China government will not be able to restructure currency for at least 10 years. During this period, either reduce the silver content in the silver coins to achieve the effect of exceeding the currency, or

It is to buy silver internationally to maintain the required amount of currency, and no matter which one, we have the opportunity to take advantage of it and make a fortune from it. Secondly, if you cannot exchange silver coins, the people will immediately spend all the banknotes to purchase daily necessities. The daily necessities in the Shanghai market will be sold out in a short time. In this way, it will not only cause a run of silver coins, but also cause materials to be purchased and prices will rise. Our companies may as well hoard more daily necessities during this period, and they will make a big profit at that time."

After a pause, Powell said: "In this way, Shanghai's economy will show a sharp recession in a short period of time. Shanghai is not only the most developed city in the East China government, but also the locomotive for the economic development of the East China government. Once Shanghai's economy experiences a sharp recession, it will inevitably affect other regions. Therefore, there is a great possibility that it will cause the overall economic recession of the East China government. If the East China government wants to avoid or prevent the economic recession, it must come to us for help.

We stop running silver coins and investing funds to save the market. Naturally, we will set the conditions. This is my plan. As long as we all work together and work together, we can complete this plan. At that time, not only will the East China government recognize our strength, but we will not dare to squeeze our interests in China in the future. We can even restore some of China's interests. We will also make great contributions to our country, which will be of great benefit to your future promotion."

After Powell finished speaking, everyone discussed for a while, and Primakov first said: "I agree with this plan. It's time to let the East China government suffer a little."

Clermondo also said: "Sir, please forgive me for your doubts just now. This is indeed a good plan. I personally support it with all my strength, but I cannot make a decision privately for such a major resolution. I must ask the country for instructions, but I will try my best to convince the country to support this plan."

Powell smiled and said, "Thank you for your support, I look forward to your good news."

Tsujiro Oda said: "We Japan will fully support this plan. We should show the East China government our strength to let them know the power of the free world."
Chapter completed!