God of Technology: Creating the Internet in Another World-Chapter 345: Flood the Market

"But the risk involved... if something goes wrong, our golden dragon coins will..."

Nidhogg, the Dragon of Despair, felt like they were playing with fire. Sure, a few reservoirs could absorb all the extra money they’d be printing out of thin air, but what if one day they couldn’t absorb it anymore? What if someone suddenly withdrew it all?

Either the currency would crash and trigger even bigger chaos, or the bank would end up with massive bad debts and bank runs, which would then affect everyone. Dragon Bank, the Dragon Stock Exchange, and the Dragon Bond Exchange would all face their biggest crisis yet.

Though the more Nidhogg thought about it, the more excited he got.

Deep down, he was almost looking forward to that kind of chaos.

That was just his nature.

"That’s exactly why I’m having you dragons invest too, but with controlled limits. If dragons went all-in on investments without restraint, insider trading would definitely crash everything and mess up future development. But if you don’t participate at all, how are you gonna make money?"

Viscount Roster said with a smile, "The portion I’m having you invest in, your profits will definitely cover those bad debts. At least there won’t be any problems in the current stage."

"Since we’ve already decided to keep increasing the money supply as industrialization progresses, then don’t be scared—just flood the market. As long as our development speed matches our currency issuance speed, there won’t be problems."

Viscount Roster continued, "To put it in the God’s words, every market transitions from irrational to rational. We don’t need to overthink it. We just need to understand what needs to be done at each stage."

"For example, right now we need to incentivize the major nobles to open new-style factories—textile mills, garment factories, food processing plants, and so on. Make goods abundant across the continent so more people can live better lives."

"Next up, we need to encourage small and medium merchants to join in on these reforms too, so they can spread these changes across the continent and sell these new processed goods everywhere."

"And then there’s getting nobles with rich agricultural resources to start reforms similar to the Southern Development Corporation, so agricultural output can skyrocket too."

"As long as we can hit these goals, we don’t need to worry about having too much currency in circulation. No matter how much currency there is, if there are more goods, prices will stay relatively stable. They’ll balance each other out."

"Be bold. So what if massive bad debts and junk loans pile up? As long as we achieve industrialization, we can figure out how to deal with those bad debts later. Let’s say within five years we complete magic-tech industrialization and the market expands tenfold. If the market can run smoothly with ten times the currency in circulation, are today’s bad debts still bad debts?"

"I know for you long-lived species, a few years might feel like the blink of an eye. You instinctively think, what can such a short time accomplish? And why set such high interest rates? But think back carefully on this past year."

"The appearance of the God of Technology has sped up the pace of change in the entire world by countless times."

"Things that used to take several generations, or even thousands or tens of thousands of years to accomplish, can now change in just a few days."

Viscount Roster’s passionate speech left Nidhogg completely stunned, a thoughtful expression crossing his face.

Of course, to most observers, he still looked imposing and dignified.

If anyone else heard these two guys’ conversation, they’d probably break out in a cold sweat.

In just a few sentences, they’d already encompassed everyone on the entire continent and mapped out their futures.

They’d even planned out what certain people would need to do over the next few decades to repay their debts, all to push forward magic-tech industrialization.

If things proceeded normally, countless people would become sacrifices on this path. Using tomorrow’s money to develop today always carried huge risks.

But so what?

The era needed to progress this way.

And more people would get better lives because of it.

Even in the capital of the Kingdom of Dawn, how many people could eat their fill every day?

How many could avoid freezing to death in winter?

How many were just barely surviving on the outskirts?

And that was the capital of the Kingdom of Dawn.

The capital of the second most powerful human nation in this world.

Beyond the capital, things were only harsher.

Back when Viscount Roster could take pride in his territory having zero deaths from freezing, it was because across the entire continent, fewer than ten lords could claim the same.

During the industrialization process, these people’s food, clothing, and other basic supplies would all be massively improved.

During industrialization, the vast majority of people would live better. No, it should be said that everyone would live better except for those who pursued profit so recklessly that they threw themselves into crisis.

Just like the miners near Foster Iron Mine. Sure, they were now saddled with mortgages, but the people in charge of Foster Iron Mine, in order to keep them alive longer to repay their debts, would give them safer and more stable working conditions.

Where did they used to live? What did they used to eat?

But now they lived in new-style housing. The food they ate would also improve as industrialization progressed.

Their lives had ultimately gotten better.

And the price they paid was the next few decades.

But without all this, did they even have a future?

For most miners, the answer was no.

Farmers, serfs, slaves, and even citizens everywhere all faced survival crises.

Magic-tech industrialization was destined to make this world of scarce resources and difficult distribution more efficient.

Life would get better.

After Nidhogg sorted through all this with Viscount Roster, he suddenly changed topics. "The dragons have noticed you’ve been frequently visiting the Tulip Kingdom recently. Is something going on? From what I know, the Tulip Kingdom is some deity’s dream realm and doesn’t allow outsiders in, right?" 𝗳𝗿𝐞𝕖𝘄𝗲𝕓𝗻𝚘𝚟𝕖𝐥.𝚌𝕠𝕞

"I didn’t expect you dragons to know the Tulip Kingdom is a dream realm." Viscount Roster seemed somewhat surprised.

Before this, no one across the entire continent had known that.

At least he’d never heard of it.

"Of course. In this world, as long as it’s in the mortal realm, there’s very little we dragons don’t know about." Nidhogg said with a smile. "So what’s happening in the Tulip Kingdom? It seems the Lava General has already headed there too?"