In the Tang Dynasty, Li Shimin rubbed his temples, feeling weary. These past few days, the matter concerning Li Tai had left him utterly exhausted. Once full of youthful vigor, he now bore the weight of experience, a touch of weariness settling over him. “I’ve heard that the Great Zhou Banknotes have encountered some setbacks. However, Yang Yi has implemented several new policies. What do you all think?” The ministers in the hall fell into deep thought. Changsun Wuji stepped forward. “Your Majesty, for thousands of years, gold, silver, and copper have served as currency. Although some countries experimented with paper money before the Great Zhou, most failed.” His expression remained firm. “I believe this time will be no exception. Yang Yi of the Zhou Dynasty may have countless clever strategies, but currency is currency, and people are people. “His schemes may manipulate individuals, but they cannot dictate the value of money. If he wants paper currency to succeed, he must first instill absolute confidence in the people. “The Great Zhou has just annexed vast territories, and many of those under its rule have yet to submit entirely. Convincing them to abandon their own currency in favor of the Great Zhou Banknotes will be an immense challenge.” Li Shimin stroked his chin. “So, Fu Ji, you believe Yang Yi will fail?” Changsun Wuji nodded solemnly. “At the very least, he won’t achieve complete monetary unification. Perhaps, like the former Song Dynasty, paper money will circulate for a time. But the current Zhou Dynasty is far from what the Song Dynasty once was. “The Zhou Dynasty now encompasses not only its original lands but also the former Qing and half of the Song territories. Read full story at novel-fire.net “Qing and Song copper coins differ, and Yang Yi’s push for the Great Zhou Banknotes is likely an attempt to recover all Qing and Song currency and replace it with his own. The difficulty of such an undertaking far surpasses that of the Song Dynasty’s past efforts.” A quiet murmur of agreement rippled through the hall. The Song Dynasty had introduced paper money merely to facilitate transactions, while the Great Zhou sought to completely reshape the monetary habits of the Qing and Song people. The latter was a far more ambitious and challenging endeavor. Li Shimin exhaled slowly, disappointment flickering in his eyes. “If they succeed, our Tang Dynasty could also introduce the Tang Banknotes.” His gaze hardened. “For now, we wait and observe.” In the Han Dynasty, inside the imperial palace, Liu Che leaned forward, his presence heavy with authority. “Zhufu Yan, you have studied currency extensively. Tell me—can the Great Zhou Banknotes be successfully implemented?” Zhufu Yan hesitated before offering a wry smile. “Your Majesty, I cannot say for certain. The Great Zhou’s situation is far too complex. If it were our Han Dynasty, Yang Yi’s policies would likely be feasible. But the Zhou Dynasty… that is another matter entirely.” Liu Che rubbed his chin thoughtfully. “I would rather see the Zhou Dynasty suffer a disastrous failure. That way, their momentum will be broken.” In the Qin Dynasty, within Zhangtai Palace, Ying Zheng sat in contemplation. “The Great Zhou has already begun pushing its banknotes…” He tapped a finger against the armrest. “The Song Dynasty once introduced paper currency, yet it never fully replaced gold and silver. Judging by the Zhou Dynasty’s approach, it seems they intend to make the Great Zhou Banknotes the sole currency. Yang Yi is bold, indeed.” His eyes lifted slightly, scanning the gathered officials. “Issue my decree. The Qin Dynasty will begin research on its own Qin Banknotes. Regardless of whether the Zhou Banknotes succeed in replacing the currencies of the three kingdoms, our Qin Dynasty must have its own currency.” In Bianjing, within an opulent estate, a group of well-dressed merchants gathered. One of them scoffed, swirling a cup of tea in his hand. “It seems the government is determined to enforce the Great Zhou Banknotes.” “Yes, this time, they even deployed soldiers to hunt us down.” Another man clicked his tongue. “Fortunately, I escaped in time. Otherwise, I would have had to pay a hefty fine.” “Hmph,” someone else sneered. “With such a profitable opportunity, how could we not exploit it?” “Exactly. But judging by the government’s determination, the Great Zhou Banknotes may stabilize soon. If that happens, we’ll lose our chance to profit.” Silence settled over the room as they exchanged knowing looks. These men were no ordinary merchants—they were seasoned currency speculators, using the unstable exchange rate of the Great Zhou Banknotes to amass fortunes. Had the government not intervened, they would have continued unchecked. One of them leaned forward. “It will take at least three to five years for the Great Zhou Banknotes to fully stabilize and replace gold and silver. “Right now, it’s only beginning to settle. We can drive up prices. With the current valuation of the banknotes, they won’t hold. That means we can keep profiting from the price differences, just like before.” The others’ eyes gleamed with understanding. Their schemes were clear. And in Bianjing, there were many more silver smugglers just like them. These men were bold—brazen enough to defy the government. They cared nothing for the consequences, only for the fortunes they could make. Whether the Great Zhou Banknotes collapsed or the Zhou Dynasty’s economy suffered meant little to them. Half a month later, in Luoyang’s Qianyang Palace, Yao Chong stood before the emperor, a memorial in hand. “Your Majesty, as expected, some have begun hoarding supplies and driving up prices. Both Bianjing and Yanjing, the former capitals, are seeing a gradual increase in costs.” A chill spread through the hall as the ministers inhaled sharply, turning their gazes toward Yang Yi. His prediction had been entirely accurate. These merchants were bolder than they had imagined. Wu Zhao’s sharp eyes flickered toward Yang Yi before she spoke. “Has the order to suspend bank loans been enforced?” Yao Chong nodded quickly. “The decree was issued immediately. All necessary supplies have been gathered. Song Jing has already arrived in Bianjing and is overseeing the situation. He should be stabilizing prices by selling government stock at fair rates.” Wu Zhao’s lips curled into a cold smile, a flicker of murderous intent in her gaze. “Good. Make sure those currency speculators lose everything.” Another half-month passed. Due to the government’s massive sale of low-cost supplies in Bianjing and Yanjing, the speculators could no longer hold out. Many had already begun offloading their hoarded goods. Inside a bustling Bianjing marketplace, furious murmurs spread among merchants. “Damn it! Where did the government get so much grain and cloth?” “Exactly! With the amount we hoarded, prices should have soared!” Panic began to spread as they realized—this time, they might be the ones to lose everything.