Bulgarian Empire

The genius remembers the address of this site in a second: (Apex Chinese), the fastest update! No ads!? Since the French abandoned the gold standard, the value of the franc has plummeted all the way. At its peak, the value of the franc was equivalent to the Lev, and now it has fallen 10:1.

After falling all the way, the French government plundered a lot of wealth from the private sector, got rid of the government's financial crisis, a lot of cash was put into the market, and the domestic economy began to recover.

In the first half of 1923, France's total exports increased by 38% compared with the same period in 1922, almost catching up with the peak level in the same period in 1913.

Under the favorable environment, the unemployment rate in France has also begun to drop sharply. As a price, the living standards of the French people have also declined year-on-year.

The advantages and disadvantages of abandoning the gold standard are in front of us, and Ferdinand is also considering whether to follow up. The current Bulgarian economy is far from being unable to maintain the value of the lev currency.

The most serious consequence is that the volume of export trade has shrunk severely, but now Bulgaria's total export trade does not account for a large proportion, and Bulgaria's tariff revenue only accounts for 4.8% of fiscal revenue, while export revenue accounts for The proportion is smaller.

It is mainly the Bulgaria-Russia trade that accounts for nearly half of the import and export trade. The two sides implement symbolic tariffs. This part has reduced a lot of tariffs, but it has also increased other taxes. Overall, it is still profitable.

After all, export goods, after tariffs are levied, will be exempted from many domestic taxes, such as stamp duty, value-added tax, business tax...

If all these taxes are collected, it is estimated that companies will not need to export, and the cost will already go up. Who can afford it?

"Prime Minister, what do you think of the French's new monetary policy?" asked Ferdinand

"Your Majesty, in the short term, the French use currency devaluation to increase the circulation of currency and boost the economy, but in the long run, this only delays the crisis.

The French economy has already had problems, but they have not fundamentally solved the problem. How can they solve the problem just by printing money?

If nothing else, the situation will only get worse when a crisis breaks out in the future! "Konstantin thought for a while and said

Ferdinand nodded, and asked again: "Minister of the Exchequer, what do you think?"

"Your Majesty, I have the same opinion, except that I think the crisis for the French has just begun, and as France devalues ​​its currency, other countries may follow suit.

If this continues, the advantages brought about by the depreciation of the French currency will soon be wiped out. In this way, except for the bankers who made a fortune, all French assets have shrunk.

Excessive concentration of wealth can easily lead to insufficient currency in the market. Unless the French government can keep printing money, the shortage of funds in the market will break out sooner or later, and finally an economic crisis will break out! "Kennedy said cautiously.

Ferdinand nodded. Historically, countries all over the world abandoned the gold standard after World War I. They were following the example of France, which eventually led to short-term prosperity in the world economy.

Until 1929, the economic crisis in the United States broke out, detonating the world economic crisis, and France was also the hardest hit area.

"Ignore the French's problem, let's think about it now, whether we should follow up, and estimate, if all countries in the world adopt currency devaluation, how much impact will it have on us?" Ferdinand said cautiously

"Your Majesty, if all countries follow suit, our total export volume may drop by one-third, or even more!

However, the impact on us will actually not be too great. Our largest trading partner is the Russian Empire, and the trade between Bulgaria and Russia should not change much.

As for the continental European market, the competition is now very fierce, and with the existence of cheap German goods, it is very difficult for us to expand our trade share.

When necessary, we can take export tax rebates to keep part of our market!

As long as we have survived the past few years, when the economic crisis breaks out,

Countries that abandon the gold standard will have to pay a heavy price for this, and Lev's international credit will also be established as a result! "Kennedy analyzed

Ferdinand nodded. In fact, he is planning to directly link the Lev to oil after the industry develops further to determine the Lev's status as an international currency.

However, the Minister of Exchequer advocates sticking to the value of the lev currency and establishing an international monetary system through the credibility in the hearts of the public. In essence, everyone's purpose is the same.

"Prepare foreign exchange and buy gold internationally!" Ferdinand thought for a while and said

"Yes!" Kennedy replied

To challenge the international status of the pound, the British Empire must first be defeated, which is an essential step.

However, the British Empire was too strong in this era. Except for Ferdinand, no one else had much confidence. Therefore, all Bulgarian policies were often conservative, trying to avoid direct collisions with the British.

Even Ferdinand didn't know where to start? Agitate the independence of the three North American countries? Or support the colonial uprising?

It's a pity that there isn't a strong one here, and no matter who they support, they don't have the ability to shake the hegemony of the British Empire!

You can't learn from that idiot Louis XVI, can you? In order to support the independence of the United States, he spent every franc in the treasury, and was finally guillotined!

Do you want the Germans to challenge the world again? But after looking at the map, Ferdinand soon gave up this tempting plan. At this time, the Germans may not dare to challenge the world!

Caught in the middle by France and the Austro-Hungarian Empire, followed by Bulgaria and the British Empire, there are a lot of messy problems in the country. They want to make troubles, first fight a civil war, and settle the country!

Even if the reunification can be completed again, their strength is not enough? Without Austria, without the Czech region, the strength of the Germans has been weakened by at least three layers compared to history, but the enemy is stronger than in history. Why did they play this deadly chess game?

Unless they are cornered, it is estimated that the French have no plans to drive the Germans to death. If the Germans and the French have another PK, the outcome is still unknown?

"Your Majesty, the economic situation in Italy is very bad. The Italian government may declare bankruptcy in the near future!" Foreign Minister Megeve said cautiously

It is no news that the Italian government is bankrupt. As early as 1921, the Italians released the wind and asked all countries to reduce Italy's debts, otherwise they would declare bankruptcy.

It's just that Britain and France announced very stubbornly that as long as the Italian government goes bankrupt, the Allied Powers will take military control of Italy and use bayonets to urge them to repay their debts, which dissuades them from reneging on their debts.

"Has the news been confirmed?" Ferdinand asked, frowning.

"It's almost the same. The Italians have filed for bankruptcy for the third time. This time they should be serious. From the information we have collected, their domestic economy is very bad, and unemployed people are everywhere.

Coupled with the huge debt, it has exceeded their ability to bear. If they don't default, the Italian people will be hungry! ’ explained Megeve

"So, now Italy is a mess, and they have lost their ability to repay their debts?" Ferdinand asked

"According to the intelligence analysis we have collected, this is the case!" Megev replied

Ferdinand wandered around, he was still hesitating, should he take advantage of Italy to cheat Britain and France?

After a while, Ferdinand said, "If we pull the British and French military to control Italy, what will happen?"

Everyone was shocked and stunned by Ferdinand's whimsical idea. Now the Italian government really has no money to repay its debts. Even if the military controls Italy, it won't be able to squeeze oil out?

For the Italians to repay their debts, they must first have the ability to repay their debts!

What will Britain and France do?

Help Italy recover its economy?

Or directly squeeze and exploit the Italian people, how much oil can be squeezed?

"Your Majesty, what is the purpose of doing this?" Constantine asked suspiciously

This is clearly harming others and benefiting oneself. No matter how you deal with the Italians, Bulgaria can't get half a cent of benefits. Is it necessary to participate?

"It's very simple, is the current labor wage in Italy much lower than that in Britain and France?

As long as we designate several economic zones, is it possible for British and French capitalists to transfer some industries to Italy?

As long as they move some industries into Italy, can the Italian government collect taxes, and rely on these taxes to repay the debt?

As for our interests, the British industry is too strong. We need to let British capitalists learn to find cheap labor and reduce production costs!

It's better to let them transfer all the local industries out, that's even better! ’ explained Ferdinand

Is it possible to transfer all the local industries out? At the national level, this is definitely not in the national interest, but it is in the capitalist's interest!

By reducing production costs, greater benefits can be obtained. With the current labor costs in the UK, many physical industries actually have little profit.

If the factory is transferred out, this profit can be restored immediately, and the capitalists have no reason not to do it!

The consequences, what does it matter to them?

When the British mainland lost its industrial support, once the economic crisis broke out, the resulting social crisis would be irreversible.

It is really difficult to defeat the British Empire from the outside, but what about from the inside?

Is a Commonwealth of Nations with serious internal problems still so scary?

Once there is a problem in the British mainland, can they still suppress the colony? Will the Three Kingdoms of North America still be their younger brothers?

Once Britain declines, there will be more people who will hurt them, and Bulgaria has been hiding behind the scenes from the beginning to the end, and at most it will make up for it at the last moment!

"Your Majesty, the success rate is probably not high! Given the strength of the British, no one would dare to stand up and challenge them. As long as they are given time, they will still get out of the predicament in a short time!" Constantine said with a wry smile

"Did I say that I wanted to crush them all at once? Does the following matter have anything to do with us? Now our task is just to dig holes for them, dig more holes for them, and watch them jump down!"

Whether they can be buried in the end depends on themselves.

If the Commonwealth of Nations is united, then we will continue to weaken them, unwaveringly on the way forward, and continue to dig holes for the British.

The British Empire is already old, and when they are old, they will lose their strength. Sooner or later, they will sink in and never get up again!

If the Commonwealth cannot be united, then we will help and let them split themselves. At least we will take back the Suez Canal at the gate! said Ferdinand harshly.

Everyone breathed a sigh of relief, as long as Bulgaria didn't go into battle shirtless, he would be able to face-to-face with the British Empire in person, and they were the best at making up swords.

In World War I, didn't the Germans get the final blow by Bulgaria? Even the Austro-Hungarian Empire was beaten half to death by the Russians first, and Bulgaria finally jumped out to grab the head?

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