The Almighty Ring

Chapter 2879: Chapter 2867, the crisis broke out

Translator: 549690339

After exchanging for the moon spirit crystals, these hooligans were very happy because their first step of making money had been successfully completed!

As for the bank, because they still didn’t know the purpose of these hooligans, it wasn’t easy for them to stop them. Because once they stopped them, as long as they didn’t give a reasonable reason, they would definitely trigger a wave of bank runs.

In comparison, a mere hundred thousand yuan worth of Moon spiritual crystals was nothing to the bank. Although they had lost a third of their reserves of Moon spiritual crystals.., but a hundred thousand yuan worth of Moon spiritual crystals was still a drop in the bucket for the bank.

But when these hooligans got their hands on the moon spiritual crystals, they immediately released the news.

That afternoon, a large number of commoners poured into the bank to request to exchange for the crystals. As the news gradually spread, more and more people came to run for the crystals. At first, it was because they were all commoners, even the majority of the people in the slums did not request to exchange for a large number of crystals. However, it was obviously abnormal for so many people to exchange for the crystals at the same time.

Therefore, the bank reported the matter to the higher-ups while they were exchanging for the moonspirit crystals. Soon, the higher-ups were alerted.

“What? ! Did the news get out?”

“What should we do? We still have no clue about the moonspirit crystal robbery. If we let them run wild, the bank will soon collapse!”

“Let’s try to hold on for a few days. If we refuse to exchange now, the financial system and the monetary system will collapse!”

“We can only do this. Fortunately, only the poor are exchanging now, so the quantity is not very large!”

..

At this time, because the news was only spread in the slums, although there were many people exchanging, everyone was very poor. Each family could not exchange for two or three, so for the banks, they could totally support themselves.

Moreover, the higher-ups of the banks had another idea, which was that they would always keep the exchange open. This would increase the credibility of the banks in the hearts of the common people. As long as they kept it like this for a few days.., then the common people would feel that the bank could completely pay for the Moon Spirit Crystal, and it was inconvenient for them to use the moon spirit crystal. At that time, they would deposit the moon spirit crystal back and change it into banknotes.

The bank’s idea was beautiful, but when the news spread to the wealthy district, the situation took a sharp turn for the worse!

Although the number of wealthy people was relatively small, they controlled the vast majority of the wealth. These guys were also afraid that the cash in their hands would turn into waste paper, so they all ran to the bank, they requested to exchange the money they had into Moon spirit crystals.

This way, the pressure on the bank instantly increased!

“No! We must restrict the rich people from exchanging. If this continues, in less than three days, all of our moon spirit crystals will be exchanged out. At that time, if we can’t continue to pay, the bank’s collapse will be small, and the entire Gamma Space’s financial system will collapse!”

..

Other than the bank’s higher-ups who were restless, the news was also reported to the administrator.

“Damn it! How did it come so quickly!”The administrator cursed angrily. Jiang Fei, who was beside him, was laughing in his heart.

“The good show has finally begun!”Although Jiang Fei was happy in his heart, his face showed that he did not know what to do.

“I see!”The consul pondered for a moment. He had been trying to come up with a solution for the past few days. Although there was no effective solution, he had come up with a way to temporarily stop the pain.

“Tell the higher-ups of the life building to gather some moon crystals and lend them to the bank first. Then, tell the bank to exchange a limited amount of moon crystals for 50 million each day,”the consul ordered.

“Yes!”After receiving the order, the consul passed the order to those people.

Soon, the higher-ups of the life building gathered some moon spirit crystals with unhappy faces. Because they were the ones who made the mistake, they had to lend the money.

However, even if the life building borrowed money, it was just a drop in the bucket. They had said before that when the bank issued notes, they would exceed the limit according to the ratio. When everything was normal, the common people would not run against them, therefore, everything was normal.

However, once the people ran against it, everything would be gone. Even if the one-third of the Moon spirit crystals were not stolen, they would not be able to pay in full because the amount of moon spirit crystals they had in reserve was not as much as the amount of notes issued, in fact, it was only one-third of the amount of notes issued, or even less.

“As expected!”After hearing the Order of the consul, Jiang Fei nodded secretly. The other party had no choice but to choose to exchange limited amounts of money in the end.

As a result, the common people became even crazier. The limited exchange by the bank had undoubtedly proved the accuracy of the rumors. The bank was no longer able to pay all the money. Now, they had to seize the money, otherwise, the money in their hands would become useless paper.

More and more people crowded around the bank. After the day’s limited exchange, the remaining common people did not leave at all. They surrounded the bank’s door. The next day, when the bank opened, they squeezed in, everyone hoped that they would be lucky enough to exchange all the money they had into moon crystals.

As a result, the moment the bank opened, the limit for the day would be emptied out by a few people. The people outside could not enter, and that would not be far from a riot.

Under such circumstances, the magistrate could only give another order. The bank not only limited the total amount of exchange, but also limited everyone to only one moon crystal per day. This seemed to have eased the situation slightly, however, this balance was quickly ended.

Everything was as Jiang Fei had expected. Ever since the bank began to restrict the exchange, the gamma space’s currency had started to depreciate. At first, the black market price had changed from 1,000 dollars per moon crystal to 1,200 dollars, then, the price of 1,314,000 moon crystals was almost on the rise.

Two days later, it turned into a lunar crystal that cost 2000 yuan. This meant that the currency of the gamma space had depreciated by 50% in two days.

It was not just the lunar crystals that had gone up in price. Everything else had gone up in price. Because the currency in their hands could turn into waste paper at any time, the merchants were not willing to accept it. Now, they were all demanding to pay for the lunar crystals, they were even willing to barter and were not willing to accept paper currency.

When the bank started to restrict each person to exchange one moon spirit crystal per day, those gangsters appeared again. They sold the Moon Spirit Crystals in their hands on the black market and earned double the difference in price, then, they violently chased away the people who were queuing at the bank’s entrance and hired people from the slums to queue for them to exchange.

The people from the slums were hit even more miserably by the economic crisis. They were now willing to risk their lives for a cake, not to mention lining up for the gangsters, so these gangsters instantly became big shots, one by one, they made a lot of money.