The issuance and use of the New Currency went smoothly, which allowed the executives of the Global Communication Group and Wealth Bank to breathe a sigh of relief.
Although Lin Qi had known from the beginning that everything was destined to succeed, the New Currency had been issued against Credit Points, while Credit Points represented the wealth value controlled by Wealth Bank, Global Communication Company, and the Federal Government, and were directly tied to gold.
So it was impossible for it to fail. New Currency could be taken to Wealth Bank and exchanged directly for gold, which could then be exchanged for Credit Points. It formed a perfect closed loop.
The only slight imperfection was that neither New Currency nor Credit Points served their intended purpose at the other Private Banks.
The other Private Banks did not belong to Wealth Bank and were not connected to its various systems. They could not access their individual depositors' Credit Points, let alone use them for services such as exchanging them for gold.
Purely exchange-related services—
Exchanging New Currency for Credit Points, Credit Points for gold, or gold for New Currency or Credit Points.
When applying for these services at Wealth Bank, customers would be charged a service fee ranging from approximately three-thousandths to two percent. Individuals were charged the lowest rate, three-thousandths, while companies and large transactions were charged proportionally more.
This approach seemed quite inconsistent with the values of capital. The greater the "volume," the more wealth it could create, so the service fee should have been lower.
Wealth Bank had, in fact, already achieved a certain degree of large-scale monopoly, and its profits no longer came from exchange services.
Instead, service fees that increased the cost of exchanges were more helpful in allowing it to achieve monopolies in various fields.