Credit refers to the value movement in which the credit grantor lends money to the fiduciary through a contractual relationship on the basis of full trust that the fiduciary can realize its commitments in commodity exchange or other economic activities, and guarantees that its principal can be repatriated and value-added.

National credit is a kind of credit activity carried out by the state as the main body, including domestic credit and international credit. Domestic credit refers to the credit obtained by the state as a debtor from domestic residents, enterprises and groups, which forms the domestic debt of the state. International credit is the credit that the state obtains from foreign residents, enterprises, groups and governments in the capacity of debtors.

Nationalbankruptcy is when a country's financial revenues are insufficient to pay for the foreign exchange necessary for its imports, or its sovereign debt is greater than its GDP and becomes insolvent.

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Between countries, there are no eternal friends, and there are no eternal enemies.

Bigbower knows this truth very well, but it can't help but expand outward, so its long-term national policy has been to form a faction, pick a soft persimmon, and isolate it together, so that it can be divided into camps, and secondly, it can also be pinched out of the soft persimmon.

The nascent Twilight Empire is such a soft persimmon.

To treat an ally or a younger brother, Bigbower first gave a stick and then a carrot; When dealing with the enemy, he will make the other party feel good about himself first, and then he will slash the other party. After all, the trade war is all about, and Bigbower deliberately asked the Bone Tyrant to sign an arms contract, not to send money to the Twilight Empire, but to dig a new grave for the Bone Tyrant. The Tyrant of the White Bones was young and vigorous, and he paid "what else I can't deal with", and signed the contract at once. The most difficult part was done, and the rest fell into place, with the two countries flexing their muscles around the arms trade, causing prices to fluctuate across the continent. In the end, the Dusk Empire bought too many raw materials, but could not sell a single piece of armaments, and the fiscal deficit was immediately on the verge of bankruptcy.

However, this is only the beginning.

Since you want to calculate the Twilight Empire, you must calculate it well, and all aspects of the work must be done well. As early as the fund-raising stage of the Dusk Empire, Bigbower communicated with the countries of the mainland, manipulated some merchants to appear in Snow City and buy treasury bonds, and only waited for the Dusk Empire to decline, and then demanded the official redemption of the treasury bonds. If the Dusk Empire does not pay the money, it will be bankrupt, and the country's credit will be cleared immediately. So is it possible for the Twilight Empire to pay back? Impossible! Their main labor force in the first three months was used to make armaments, and Snow City received all the funds and invested them in the handicraft workshop, and the various industries were stagnant, where is the money to pay back? What's more, the money owed is not a small amount, and some experts estimate that all the people have to work for a year without eating or drinking to pay it back, and note that they can't even drink the "soul potion".

If a merchant house or a large family goes bankrupt, it will be swallowed up by someone else immediately, but the state will not. There is a consensus on the mainland: "national sovereignty is sacred and inviolable", even if the Dusk Empire is innocent from top to bottom, it is still a sovereign state, and it cannot change its master, nor can it be divided up by other countries. So strictly speaking, the state will not go bankrupt because other countries do not recognize its bankruptcy.

Generally speaking, the currency is the embodiment of the credit of the country, and once the country goes bankrupt, the currency will depreciate significantly; Investors chase the price and immediately sell their holdings of the country's currency, so that the value of the currency continues to fall (theoretically infinitely), so that other investors have to sell the currency as well, thus forming a vicious circle. The gold and silver standard is implemented in the Qiankun plane, and all countries use gold coins of the same condition, and the bankruptcy of the Dusk Empire cannot depreciate the value of gold coins, but in addition to currency, treasury bonds are also a reflection of national credit, so investors will sell their treasury bonds. All the hot money flows away, and the Twilight Empire will collapse, except for war, never expect a day ahead, but you ask the war tycoon Bald Eagle, can you fight without money? Slap yourself twice, it's practical!

What creditors can do to debtor countries is to force each other to implement loose policies on exchanges, which is what Bigbower had been trying to do before the trade war.

It's nightfall. Brian sat in the council hall and waited, just to see what the creditor countries wanted, and then try to meet them, to put it bluntly, that is, to sign unequal treaties with various countries. At such a critical moment, he was still able to hold a book and read it calmly.

The bankrupt state will become a puppet state, a vassal state, and lose its economic and political independence, which is a very serious state of affairs, no less than "the state artifact has been robbed" or "the king and his heir have all died violently overnight". For the sake of strict distinction, scholars refer to such countries as "neocolonies". Bigbowo started by colonization, and after the people of the Salamonro colony launched a war of resistance, His Majesty learned from the pain and finally developed a neo-colonial strategy based on the economy-led model, but unfortunately Salamonroe implemented a self-sufficient agricultural economy in the Blackstone Valley, and did not show any flaws at all, so this neo-colonial strategy fell on the first new sovereign state in hundreds of years, the Twilight Empire. If you don't fight, you have to knock the enemy down - the style of Bigbowo. The Twilight Empire's war power is good, but the economic power is certainly not able to compete with the great powers, so the Bigbowo soldiers convinced the Twilight Empire without bloodshed.

If you don't have money, you can only pay people and cut land. His Majesty had the foresight to devise the "Necromantic Lease Contract", which was to value each of his subjects and use his labor to pay off his debts; And Brian has already marked the price codes for all parts of Snow City, just waiting for someone to ask for it. As soon as the unequal treaties were signed, the necromantic creatures remained low, despicable slaves, and could not be expected to have anything but wealth for their creditors. The people are all doing hard labor for others, so Junesunshine, the king of the dead, is also dead in name.

However, Brian was not worried about the country becoming a new colony, because the country's biggest creditor was none other than Schroeder Bray.

Schroeder Bray continued to inject money into the Twilight Empire, like watering a sapling, and finally turned the Twilight Empire into a sovereign state. Since the Twilight Empire was Schroeder's private property, if he didn't agree, no one would want to get involved in the Twilight Empire. And Schroeder is the only person in the whole continent who can withstand the pressure of repaying debts, because he is a black dragon. Dragons like to collect gold coins, jewelry and other shiny things, very rich, and a dragon who will use gold coins and jewelry as capital and make money with money can only be described as a rich country. All the debts in the early stage are paid off by this guy, and it seems that he hasn't done his best.

After reading a few pages, messengers from various countries came.

There was nothing to say about what happened next, Brian stuck to the bottom line that he had discussed with His Majesty in advance, and finalized the treaties with each country one by one, and since then the Dusk Empire has several small shareholders. He doesn't know how to negotiate and doesn't want to negotiate, so he is completely submissive, which makes people wonder if he is really the smartest one in the joint scientific research center. In a short time, the envoys departed contentedly, while Brian continued to sit and read.

After a while, someone else came, it was Schroeder Bray.

The dragon merchant put the bag on the ground, sat down next to Brian, and said, "You have a lot of backbone. ”

"Thank you." Brian put down the book and replied politely.

Everyone is a smart person, and they don't need to be said thoroughly.

His Majesty handed over the economic power to Schroeder Bray, praying that the other party would solve the economic crisis for him, but at the same time secretly made up a "necromantic lease contract", which angered Schroeder. In order to warn the chess pieces under his hands, Schroeder deliberately did not take any measures and let foreign businessmen come to the door to threaten him. At this point, the matter can still be salvaged, as long as Brian whispers to Schroeder, then Schrooder will never stand idly by; But Schroeder didn't expect that Brian really summoned envoys from various countries and took the initiative to sign unequal treaties. Both sides are soft on the outside and rigid on the inside, neither of them is willing to whisper to the other party, and they all wait for the other party to take the initiative to come to them, and after a day of grinding, the envoys have come up to negotiate with joy.

Schroeder praised Brian for his "backbone", which shows that he was really angry: don't just necromantic creatures bow to the great dragon?! He didn't know that even the June Sunshine might not be able to impress Brian.

"Don't think that you can get out of my control without my money. I'll look down on you from above and make the game change in the direction I want. No matter how hard you struggle, you're just mud, garbage, and a second-rate tool that you can throw away when you're used up. I swear that once you lose your usefulness, I will make your life worse than death. "Schroeder surveyed the tunnel.

Brian smiled, picked up the book, and didn't look at the other party again: "I'm sorry, I'm busy, I'm out of company." ”

Schroeder laughed instead of being angry, but laughing. He threw the bag behind his back and left without looking back, and the laughter was heard far away, loud as if a dragon was roaring.

In these years, some people invested in industry, some people made usury, and some people collected jewelry, calligraphy and paintings, but no one would take the initiative to invest in a small country, and they invested in a small country from scratch and from existence to sovereignty. You just want money, you can make money by investing in anything, but the risk of investing in the country is too big and it's not worth it. Schroeder Bray, as a dragon, is not very intelligent and unpredictable, and of course understands this. In this case, he still wants to bring the Dusk Empire under control, and what he seeks is not so simple, perhaps using the necromantic creatures as pawns to deal with others. The dragons are already superior to mortals in terms of wealth, longevity, strength, and wisdom, and are the most perfect creations, so what else is there for them to deal with? Is it human? Is it an otherworldly creature? Still is......

Brian put away his books, got up, and prepared to go to the library to look up the materials, which was his business. He was calm and light-hearted, not at all like the person who had just signed the treaty of loss of power and humiliation of the country. In fact, His Majesty had long anticipated this day, so he specially entrusted him with the signing of unequal treaties.

Just as His Majesty believed in Him, so He believed in His Majesty.