Chapter 2512

In mid-February, Connor contacted Lynch and asked him a question.

"Do you think the current federal currency issuance policy is appropriate for the federal government?"

This is a very complex and huge problem.

What’s interesting is that although the federal government nominally rules the country, the right to issue currency is in the hands of the Federal Reserve Bank.

The recent introduction of a new version of the federal currency into circulation has caused some minor problems within the monetary community.

For example, those counterfeit coins, even if everyone is already thinking of ways to collect the counterfeit coins they have acquired and send them abroad, there will still be a lot of counterfeit coins in the Federation.

The federal government, or the Federal Savings Bank, will not accept counterfeit money, even if they have started to replace it with new currency.

This also means that some people are facing huge losses for them, which may be dozens of yuan, hundreds of yuan, or even tens of thousands of yuan!

So some people came up with conspiracy theories and other things, and also had some opinions on the Federal Reserve Bank.

Regardless of whether those who were refused the opportunity to exchange their old coins for new ones were holding genuine counterfeit coins or genuine coins that were difficult to distinguish, they believed they were being given a hard time.

If a person like Lynch is given trouble by someone, he will definitely call the idiot's big boss.

But ordinary people cannot do this, so some disturbances that are not conducive to the Federal Reserve Bank are forming and affecting public opinion.

This question is really not easy to answer.

Lynch went to the study and answered the phone. He did not answer the question, but asked why Connor paid attention to this matter.

"Are you in any trouble?", he asked.

Connor admitted and explained, "Someone submitted a material to the Federal Antitrust Commission regarding the Federal Reserve Bank's alleged commercial monopoly in the issuance of currency..."

Connor looked at the material on the table, which was more than a foot thick, and that there was a box that was not placed on the table. He had a headache.

These materials range from the birth of the federal government to last year, and introduce the origin, process, and results of each issuance of the federal government.

Along with some supporting materials, the person who provided these things can prove that when the Federation was founded, it did not sign any paper contract with the Federal Savings Bank.

Directly bind the right to issue federal legal tender to the Federal Savings Bank.

They just mortgage their taxes to the Federal Savings Bank when they need to issue more currency, allowing the Federal Savings Bank to print the currency the federal government wants in advance, and then flow it into society through various channels.

To put it simply, the Federal Reserve is just a service provider. What they do is print banknotes and then accept them——

Gold yuan coupons are an ancient thing and the prototype of currency.

Holding gold yuan coupons can be exchanged for equivalent gold at the bank to ensure its value.

Today’s currency is actually still the same thing!

How can a Federal Sole with a denomination of one hundred dollars be trusted to be worth one hundred dollars?

In fact, it is very simple. Take one hundred federal soles to any bank in the federation and you can exchange it for the equivalent value of gold. This is the embodiment of its value!

The federal government gives tax revenue to the Federal Savings Bank, and then the Federal Savings Bank gives equivalent banknotes to the federal government, and the Federal Savings Bank accepts the value of the currency in circulation according to the subjective wishes of the holder.

They can ask for gold, silver, or other countries' currencies.

This behavior itself is a commercial behavior, and today, after the Anti-Monopoly Law has been implemented for many years, only the Federal Savings Bank still controls the issuance of currency in the entire federation.

This is the most typical monopolistic behavior, and any monopolistic behavior is not allowed!

The whistleblower's appeal is actually very simple. He or she may also be a supermarket brown paper shopping bag, hoping that the next time the federal government issues currency, other banks, including other companies, can compete.

Or divide the work into multiple parts and be shared by multiple companies. Only in this way will it not be considered a monopoly.

Listening to Connor talking about this, Lynch asked him not to hang up the phone, then picked up another phone and dialed the number of Vera's office.

"Has anyone talked about currency issuance lately?"

Vera was a little baffled when she suddenly received this call, but she still recalled it seriously and replied, "No one has ever talked to me about this. What's wrong?"

Lynch hung up the phone after a few perfunctory words. After confirming that it had nothing to do with him, he began to talk to Connor about the matter.

"The issuance of currency is a matter of credibility. For the vast majority of ordinary people, whether domestic or foreign, they will think that the main body that issues currency is the federal government."

“But now it’s the banking industry of the Commonwealth that is actually responsible for issuing currency and responsible for the subsequent issues with currency.”

"Before there were problems at the Federal Reserve Bank, there was actually nothing good or bad about this approach, because no matter how you changed it, the end result would be the same."

"The federal government cannot do without the banking industry, and the banking industry is the business that really determines whether currency has value, not the federal government."

Connor on the other end of the phone already frowned, "Is there a way for us to solve it ourselves?"

"I mean the federal government, as the real master, decides the issue of issuing currency, as opposed to the banking industry?"

Lynch asked a question, "If the federal government takes back the issuance power and issues it itself, this means that the federal government needs to provide all the services that banks now provide."

"The federal government will add a lot of departments, a lot of employees, budgets, burdens..."

“Congress won’t agree, the people won’t agree, and most importantly, the banking industry won’t agree!”

"As long as the Federal Reserve Bank issues a statement stating that it will no longer provide exchange services for the Federal Sol from today, the entire world's finances will have huge problems!"

In fact, there are more radical ways, such as the Federal Reserve Bank not recognizing the value of the Federal Sol and printing its own currency.

Just like Lynch did at Slem.

Now the habit of using chips in Slem has begun to take root among people, because as the world's most popular tourist destination, it is impossible for people to hold the currencies of dozens of different countries for transactions.

On the contrary, the chips provide the convenience of circulation. If Lynch then "prices" the chips, for example, linking the price of the chips to the price of gold.

By publicly storing a certain amount of gold, the chips can be completely separated from the federal sol and the currencies of other countries, and become a completely independent regional currency!

Who can say that Slem's chips are just a handicraft?

As long as Blackstone Bank and other banks are willing to provide acceptance services for it, then it will be a regional currency, and no one can change this fact.

But if the Federal Reserve Bank does not provide various services to the Federal Reserve, a series of troubles will arise.

People at the bottom are the stupidest and most easily incited!

Listening to what Lynch said, Connor's mind was about to smoke. After being silent for a long time, he came to a conclusion.

"You mean it's not easy to do, right?"

Lynch was not surprised by this conclusion. If Kang An was really proficient in everything, he should be in a university, not in the presidential palace.

"Yes, it is difficult to deal with, but if you want to touch this problem, the best way is to tell the people at the Federal Reserve Bank about it. They will be more anxious than you!"

"You don't need to do anything, and then there is a high probability that this matter will have a relatively fair result."

Connor was surprised, "Is it that simple?"

"I don't do anything and there will be results. Are you sure it's a positive result?"

"Instead of some bad outcome?"

"Yes, I'm pretty sure, Mr. President."

When Lynch used "Mr. President", he showed that he was serious. After hearing this, Connor decided to adopt Lynch's suggestion, although he didn't know why.

Many people actually don’t know why. I give you ten dollars, and then you print ten dollar bills for me. The ten dollars are exchanged for ten dollars. You don’t get anything more than ten dollars, and I don’t get more than ten dollars. Ten bucks stuff.

Why are the Federal Reserve Banks going crazy over this?

Many people think so, including Connor.

But in fact, this is not the case!

What Connor paid was ten dollars that had been given a real value, and what he got was just the printed matter from the printing factory!

Ten dollars, in exchange for something that may cost only two or three dollars, and the rest is the "profit" of the Federal Reserve Bank.

Of course some people will be jealous of such a high profit!

But because issuing currency is a very serious matter, it is impossible for the Federal Reserve Bank to print casually.

Like this additional currency issuance, the Federal Reserve Bank's income may exceed tens of billions, or even tens of billions!

Now someone wants to share the money, and they will definitely not agree!

After hanging up the phone, Connor called the chairman of the Board of Directors of the Federal Reserve Bank and casually mentioned that someone had submitted a piece of material regarding the Federal Reserve Bank's alleged monopoly.

Connor hopes that the Federal Reserve Bank can send a few people to come up with some materials and explain it to the Presidential Palace.

When the chairman of the board of directors heard this, he was stunned. For the first time in two or three hundred years, someone pointed the finger at them!

While there was a lot of anger in his heart, he had to lower his fucking voice to explain to Connor that this was not a monopoly, he was very angry!

After the call ended, the chairman of the board of directors immediately called for an enlarged board meeting. All board members, as well as some major shareholders, were asked to join the conference call.

When he explained the content of Connor's phone call, many people's blood pressure rose instantly!