The Fourth Lingshi Financial Crisis
Summary
In 'The Fourth Lingshi Financial Crisis', author Yang Lu delves deep into the intricacies of a financial system backed by spiritual stones, exploring the repercussions of a money supply dependent on the balance between supply and demand. Set in the Kyushu Cultivation World, this sci-fi novel offers a thought-provoking narrative on credit money and societal distribution, as seen through the eyes of the fifth president of Lingshi Reserve Bank.
Description
“Any currency endorsed by physical objects, whether it is on the gold standard or the spiritual stone standard, has the fatal flaw that the money supply cannot be adjusted autonomously. It must be caused by the mismatch between the supply and demand of money. The financial crisis. Credit money is not a once and for all, the problem is not the currency itself, but the It’s a matter of cultivating the distribution of society. ”
——Excerpted from the autobiography of Yang Lu, the fifth president of Lingshi Reserve Bank in Kyushu Cultivation World, “The Eve of the Fourth Lingshi Financial Crisis”
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