Make France Great Again

"Your Majesty!"

The Count of Argoux, President of the Banque de France, addressed Jerome Bonaparte with a serious expression, and then politely dissuaded: "The role of the Banque de France is to help other banks when they go bankrupt. If the loan is released, the French market may fall into a temporary boom phase. When the tide recedes, the French market may face a greater threat.”

Although Count Argoux did not have a systematic understanding of Keynesian theory, but based on his keen financial intuition developed over the years in charge of the Banque de France, he felt that the use of financial means to stimulate industrial means by His Excellency the President was ultimately like giving a Like opium injections for weak people, the patient will become hyperactive due to the influence of opium in a short time, and after the stimulant of opium passes, the sick person will get sicker.

"Count Argoux, in the long run, everyone is going to die!" Jerome Bonaparte sneered, and he used the most classic metaphor of later Keynesian theory to refute the conservative Count Argoux: "It's like When a person is sick, you don’t prescribe medicine for him. Instead, tell him that people are always going to die! The side effects of medicine may cause the patient to face danger in the future. Should we give up treatment for the patient because of the dangerous properties of the medicine itself? Do we have to pray that the patient's body is tough enough to survive?"

Jerome Bonaparte's series of questions made the Count of Argoux fall into contemplation, not only the Count of Argoux, but also the brothers Achilfold, Magnet, and Perel.

In particular, brothers Achilfold and Perel, who believed in Saint-Simon's doctrine, felt that the theory said by the president had many similarities with Saint-Simon's theory, and also had some differences.

"Your Majesty, please believe in France!" Count Argoux pleaded with Jerome Bonaparte: "A little fluctuation cannot break the French market, and France can resist it with its own adjustment mechanism!"

"Monsieur Argoux!" Jerome Bonaparte stopped giving the president of the Banque de France an honorary title, he said coldly: "Tell me, what happened to the disaster a year ago? Where is the self-regulation mechanism! I have only seen large-scale bankruptcies and large-scale factory closures."

The Count of Argoux remained silent. He could not refute Jerome Bonaparte's remarks. The changes a year ago made the directors of the Banque de France still fearful.

The large-scale bad debts brought about by the large-scale bank failure, coupled with the fact that the Banque de France itself did not intend to save the market, led to more companies facing bankruptcy. Under the double blow of bank failure and corporate bankruptcy, the entire Paris stock exchange was completely caught up. In the chaos, various bonds plummeted wildly. The large-scale plunge in bonds directly affected the overall operation of the Bank of France. The Bank of France had to sell a batch of reserves in an attempt to save the world, but what happened to the Bank of France, which missed the best time to save the world. The opponent of the entire Paris financial trend, the tragic discovery of the Bank of France, which shed 1/3 of its reserves, the Paris stock exchange did not stop the downward trend at all, but swept towards France at a faster speed.

For the purpose of self-protection, the Banque de France could only announce that it would stop the exchange, and angry Parisians wanted to attack the Banque de France to get back their property.

If the government at that time had not considered that the bankruptcy of the Bank of France would bring greater disaster to the whole of France, the Bank of France would have been reduced to ruins in the flood.

It is precisely because Lamartine and others used administrative means to compel the Bank of France to stop the exchange, which made the Bank of France relieved, and at the same time, it still had the energy to spread the influence of accepting a group of bankrupt banks to the Bank of France to the secondary cities in France. .

"Your Majesty, the previous year was due to the turmoil brought about by the combination of political issues and economic issues!" Count Argoux boasted to Jerome Bonaparte: "I believe that under your leadership! France will not fall into this situation. Like a situation!"

Jerome Bonaparte didn't feel the slightest joy in Count Argoux's flattery. He thought that Count Argoux was just responding to him evasively.

Medieval financial thought has entwined France from beginning to end, and France under conservative finance will only put all their money into more profitable places.

"Your Majesty, the Banque de France can't make money out of thin air!" Achille Fuld on the side also said euphemistically: "Even if we put funds into the market, the market will face a run because it can't bear it. possibility!"

"Minister Fould, haven't you considered this?" Jerome Bonaparte took out a French bank note worth a thousand francs: "If we can lower the standard and issue 50 francs through the Banque de France, or even If it is 10 francs, then we can have more ways to stabilize the market and suspend the run. The weakness of the economy is only temporary, we only need to stabilize employment when the economy is weak, so that there will be no large-scale unemployment. When the economy recovers, the currency we issue will be offset by the recovery.”

Historical experience tells Jérôme Bonaparte that the Industrial Revolution can offset some of the crisis caused by the over-issue of money.

After World War II, in order to compete with the Soviet Union, the capitalist world had to provide a system of high welfare for its citizens. Such a high welfare system brought an obvious disadvantage, that is, the capitalist world had to use the money printing machine to plunder the world's wealth on a large scale. .

With the joint efforts of all the countries of the capitalist world, Keynesianism lasted for more than 30 years before it produced marginal benefits.

Whether it is the capitalist powers or the Soviet Union, the phenomenon of weakness has occurred. The negative consequences of excessive currency issuance have been partially alleviated after the disintegration of the Soviet Union, and then the third information revolution has also eliminated some of the negative consequences of Keynesianism. .

This made Keynesianism last for more than 30 years, and until the time of Jerome Bonaparte's previous life, Keynesianism was still beating the drums.

The currency issue caused by the first industrial revolution can be partially solved by the second industrial revolution, not to mention that there are still many undeveloped areas in the world.

The consequences of Keynesianism can be solved by the Third World.

Of course, Achilfold waited and did not know what Jerome Bonaparte intended, nor could they imagine that the world would develop faster than they imagined.

The productive forces that erupted over the past 200 years have surpassed the sum total of the previous thousands of years. The bourgeoisie has crushed the shackles of the nobility with its huge productivity and vitality, and pushed the world to a new height.

In Argoux's view, Jerome Bonaparte's set is completely a plunder of the "national", and what is even worse is that this plunder is named "country".

"Your Majesty, doing this will probably cause prices to rise!" The Count of Argoux did not dare to scold Jerome for plundering the people, he could only carefully dissuade Jerome Bonaparte from giving up his thoughts: "Every time in Paris Price volatility will lead to a revolution!"

"Let's just use administrative means to keep Paris from raising prices!" said Jerome Bonaparte nonchalantly.

The history of France is a history of distribution according to trouble. Not letting prices rise in Paris does not mean not letting other cities rise.

Just let other cities suffer instead of Paris.

"Mr. Argoux, compared to rising prices. I think unemployment is more deadly!" Jerome Bonaparte responded to Count Argoux.

"Your Majesty, this will cause panic in the exchanges, and more people will sell their bonds!" Count Argoux responded to Jerome Bonaparte.

"If necessary, you can use some means to maintain stability!" Jerome Bonaparte said nakedly to Count Argoux.

Everyone present knows the subtext of Jerome Bonaparte. Normal trading methods are not enough. Guns are a good way~www.readwn.com~ In the eyes of Count Argoux, Jerome Bonaparte's This set of theories no longer belong to the traditional financial category. This set of theories completely looks at the will of the administrative order as a guide to reverse the entire financial level of Paris.

The shadow of Emperor Napoleon once again appeared in Count Argoux's mind, and he showed a wry smile.

"Of course, I mean if necessary! We can take the approach of closing the market!" Jerome Bonaparte reassured the Count of Argoux, he did not want the president of the Bank of France to be mad at his remarks.

"Your Majesty, if you insist on doing this, then please remove me!" Count Argoux used his last trump card. He was a conservative thinker who couldn't imagine that after he implemented the Jerome Bonaparte policy, he would give What kind of influence did France bring?

Although he still lingered on his career as president of the Banque de France, he was more reluctant to carry out Jerome Bonaparte's near-suicidal policy.

According to the constitution of the French Republic, the president has the power to nominate the president of the Banque de France.

However, one of the conditions required to become the President of the Banque de France is to be one of the French Board of Directors.

The only banker that Jerome Bonaparte has handed is Achille Fould, who is a member of the board of directors, but it is impossible for him to be president of the Banque de France as finance minister.

The pros and cons of rashly choosing a guy whom Jerome Bonaparte did not know to come to power are unknown.

Instead of facing a central bank governor whose pros and cons are unknown, it is better to choose the Count of Argoux in front of him.

At least until Jerome Bonaparte completely usurped the throne, he could not have caused much turmoil in the Banque de France.