Episode 93 21. Guild Meeting #2(8)
The advent of the Goblin Dollar.
It was the moment when the IOU, which had been used like money among people without knowing it or not, finally took on the form of complete money.
Until now, money had only been processed in the form of coins, such as gold coins and silver coins, that were originally valuable.
However, due to the deception of greedy banco traders, the existing metal currency was ignored, and a completely new type of currency was born.
Existing currencies could only be created with gold and silver with real value, but new ones could be created.
The paper currency proposed by Rockefeller now could, in theory, print an infinite amount of money at random if only credit and paper were needed.
“It sounds like we are talking about unifying all of our existing IOUs.”
“If we unify it, we will have to take responsibility for even the IOUs issued by others.”
“It was a form of taking responsibility for everything, no matter where it was published. To some extent, that is.”
One of the many guild members raised his hand and caught Rockefeller’s attention.
After Rockefeller gave him a say, he got up and started talking about his concerns.
“Does that mean we want to consolidate all the various IOUs issued by each Banco into one?”
“Then I want to ask you one thing. In that case, the other banco may have to take full responsibility for the IOUs issued by others. Of course, since it is a IOU issued based on actual gold coins, there is no solution. For example, you can go to the Banco next door, give the IOU from the customer, and get the gold coins back. Anyway, it is very cumbersome and cumbersome for us.”
He asked Rockefeller with strong doubts.
“However, is there any reason to unify the various IOUs issued by each Banco into one, even with such inconvenience?”
Rockefeller answered the question with a smile.
“You are misunderstanding something. As I mentioned earlier, the goblin dollar is no longer a IOU. It is a new currency, as I explained earlier.”
Rockefeller asked him.
“I will ask. Why do people give us the IOU and take the gold coins?”
“That’s because I need those gold coins.”
“Why do you need it?”
“that… … Because that’s money.”
Rockefeller responded immediately.
“you’re right. Gold coins are money, and we needed them, so people gave us the IOUs and took the gold coins. But if the IOUs issued by us are used like money, will people bother to come to Banco to take gold coins? Are you already spending money?”
“that… … .”
“If the Goblin Dollars were used like gold coins, the concerns we had in the first place would be resolved to some extent. People don’t come, so there’s no need to change it.”
“haha… … .”
“That sentiment. I understand enough. You may still find it strange that IOUs are used like money.”
Then a guild member raised his voice without a right to speak.
“No. Here too, the IOU is being used like money. Secretly.”
Rockefeller, who did not bother to point it out, accepted him and continued.
“Then it will be easier for you to understand what I am saying. What I just suggested is to maximize it.”
“Are we going to gain anything from that?”
“You get it, of course.”
What can you gain from it?
With everyone questioning, Rockefeller hinted at a true deception.
“Gold coins can only be printed with gold. You can also print silver coins only if you have silver. However, the new paper currency we will issue requires only Lyon Guild credit and paper.”
It was a completely new concept.
Can you print money on paper?
Some of the banco vendors understood that and began to nod violently.
It wasn’t that I didn’t think like Rockefeller.
I just didn’t have the guts.
“In the future, we You’re going to do it openly. And that’s going to make you fatter. Who can match us who create wealth from nothing?”
Then, a guild member was dubious and raised a voice of concern.
“I will ask you one thing. Will people use it? They’re not stupid either. Instead of using real money, gold coins, would you like to use the scraps of paper we printed out instead?”
Rockefeller was still smiling at the question.
“So, didn’t I tell you earlier? All that paper money needs is credit and paper. Paper is everywhere, so I omitted it and the most important thing is trust. A firm belief and trust that whenever and wherever you bring the IOU, you will return it in gold coins. Only with that kind of thing can we do what we want.”
“That credit… … .”
“How do you get that credit? Would it happen that each banco issues a separate IOU? no. When we have confidence that we will accept whatever they believe in. Only then will the credit of the Goblin Dollar be complete.”
A guild member suddenly asked a question.
“But why goblin dollars? I’m pretty sure it’s called a goblin, but what the hell is a dollar?”
Does anyone here know anything about dollars?
“The dollar is just my name. Paper currency was invented for the first time in the world, wouldn’t it be okay if I gave it a name?”
When the new guild leader said he built it as he wanted, most of them began to agree.
“If it’s paper money… … You can just take a picture.”
“Are we going to create something out of nothing?”
“Do you think it’s too terrifying to be ingenious?”
“It’s terrifying. It’s definitely good for us.”
Before closing the meeting, Rockefeller gave them an idea of the direction they should go.
“And the Goblin Dollar is also our grand plan as an extension of deposit interest. If deposit interest is activated, in all probability, all the gold coins of the empire will be gathered to us. Then, inevitably, a large amount of IOUs will be circulated, and I plan to activate the Goblin Dollar with that opportunity.”
Rockefeller’s words are not over yet.
“Please come to the new world to welcome. We will pray earnestly that our will will come to pass.”
After speaking, Rockefeller’s gaze turned to Bishop Berkis, who was still standing.
When his eyes met, Rockefeller politely bowed.
“And our interests will always be shared with the church.”
Bishop Berkis, who saw this, shook his head as if he had agreed.
In fact, there were not a few disturbing parts of the contents of this meeting. However, he understood that he was sharing the profits with the church.