Chapter 520: Mass fervor
The words said in the Eternal Forest were spread to every corner of the Forest of Chaos through the magnetic sound and magnetic image towers. The Elven Bank opening for business was an explosive piece of news in the Forest of Chaos.
The elves didn't care about the world and after being isolated for all these years, they were prepared to come out again?
The various forces all made their guesses. The elves were a giant force in the forest and were the number one race, their cohesiveness was not something any force could compare to. Any action by the elves were enough to cause changes in the Forest of Chaos.
Thousands of elves opened bank accounts and it was like a revolution passed through their race. Actually the elves were not completely rigid, they couldn't say anything about the teachings of their ancestors. They could only watch as their more and more of their resources, territory, and brothers and sisters were being stolen away. What did the ancestor's teachings bring them? It only made them weaker and caused their forces to wither!
The Elven Council was high up and couldn't understand the citizens at all. These old men were lost in the glory of the elves and the current peaceful situation, so they didn't think of reform at all.
If the ancestor's teachings weren't suited for the elves, why would they keep sticking to it?
The elven code was written by the ancestors, so why were only the seniors allowed to make change while the juniors couldn't? Since it wasn't suitable to follow anymore, wasn't it just a chain restraining the elves?
The elves should come out and do something.
Chu Tian quickly rushed back to Miracle City after the speech to avoid being chased by those old elves. He paid close attention to the Elven Bank situation from the city. This was because the Elven Bank was not just a large matter for the elves, it was also an important matter for Miracle City.
Chu Tian was most worried about interference from within the elven race, which was the reason why he incited the elves. As long as he avoided internal conflict interfering with the bank, the other problems could naturally be taken care of easily.
"Big brother Chu Tian, big brother Chu Tian!" Vivian quickly ran back to Miracle City to report the good news, bringing the report that everyone needed the most, "I've brought the data. The Elven Bank's first deposit upper limit only took two days to fill up half of it!"
This news made everyone shocked!
Meng Yingying couldn't help asking, "Upper limit? What upper limit? How much is it?"
"Royal father and the City Lords have decided that the internal consumption for the Elven Bank will have an upper limit of five million. Currently normal elves cannot make deposits and they are mainly middle or high level elves making deposits. Moreover, one cannot deposit more than 50% of one's net worth." Vivian swallowed a mouthful of saliva before saying, "But even with all these rules, we've already reached two million source stones!"
The elves were truly rich!
But Meng Yingying couldn't understand why there was a deposit upper limit and why there were all those restrictions. Wouldn't this be an attack on the elves' enthusiasm?
Chu Tian of course could understand it.
The Elven Bank to the elves was just a test.
No one could vouch if it would succeed or not in the end. Even if the Elven Bank could gather all the wealth within the elves, could they spend all that money?
Deposit it into Miracle Bank?
Not to mention if Miracle Bank can take it all, even if Miracle Bank can, the Elven King would not dare give all his race's wealth to Miracle City. If something happened to Miracle City, if Miracle City ran away, or if something unexpected happened, this was not a joke.
As for limiting the people who could open accounts, on one hand, it was because the high level people had more of a resistance towards risk and on the other hand, it was because the clientele of the Elven Bank was limited. They couldn't have hundreds of thousands of people lining up to open accounts, so they could only start with large clients.
Food had to be eaten bit by bit.
One couldn't swallow it all to become a fatty!
Vivian said, "The five million source stones upper limit is just internal, the Elven Bank does not have an upper limit for other races. We've already sent messengers to cities with close relations to the elves and they are prepared to open Elven Bank branches to allow deposits. I estimate this won't be a small amount!"
Meng Yingying said in surprise, "It can't be, other races want to deposit money in right after the bank was established?"
"This is very normal." Delores didn't feel it was strange at all, "How much influence do the elves have in the forest? Now that the elves have made their move, whether these cities are probing or flattering, it isn't strange for them to support the elves first."
"Everything is going smoothly!" Chu Tian's heart relaxed, "Our Smart Brain's processing speed is gradually increasing, how about we sell another batch to the Eternal Forest and let them spread even more banks!"
Vivian seized this chance to offer flattery, "With the world's smartest big brother Chu Tian planning everything, how could it not go smoothly?"
"Nonsense, who doesn't know this already?" Chu Tian gave a cheeky smile, "Although you speak the truth, I am a very low key person, so say it more behind my back and don't say it in front of me."
Meng Yingying was so disgusted she almost vomited, "Just keep going!"
"We've only succeeded by a half right now!" Meng Qingwu gave a soft cough. Although she was happy that they had won the Elven Bank's first battle, her personality did not allow her to relax, "For the bank model to truly succeed, not only will it have the ability to draw in funds, it's more important for the bank to create a positive cycle."
"This isn't hard!" Delores couldn't help saying, "If the Elven Bank is feeling troubled, they could just deposit the money at our side."
"You can't think like this." Meng Qingwu said with a serious face, "We supported the establishment of the Elven Bank mainly to collect deposits for Miracle Bank, but that is not the main goal. Otherwise, the elves' hard work turning into Miracle City's bridal dress can't be justified."
"The young miss is right!" Chu Tian nodded, "Not only should we support the establishment of the Elven Bank, we should also have them operate properly. Only like this can the Elven Bank keep expanding, becoming the most influential bank in the Forest of Chaos."
Meng Qingwu added, "Once our cooperation with the elves succeed, making the elves obtain enough benefits and influence, this will become a benchmark for our Miracle City. At that time, our foreign departments wouldn't need to go find people to discuss partnerships with, rather there would be countless forces coming to talk about cooperating with us!"
Vivian was very excited.
Big brother Chu Tian and big sister Qingwu were too righteous!
Meng Yingying also supported their view, "What should we do next?"
"It's simple, we've supported the establishment of the Elven Bank, now we support the establishment of elven businesses!" Meng Qingwu said to Vivian and Meng Yingying, "Princess Vivian, Yingying, your assignment for this period of time will be promoting development in the elven territory. Yingying is the productions minister, so you need to use all our resources to create factories in the elven cities and the surrounding areas, guiding the elves to start businesses. Our Miracle City will provide the supporting technology and as long as it's not core technology, you can take it out to give to the elves. For example, small products like the electric lamps, technology like the cooking array, production technology like the movie filming technology, and etc."
Yingying immediately stood up, "Alright, I know what to do!"
Vivian also happily said, "You will become the great benefactors of the elves!"
"Stop talking and go already!" Chu Tian suddenly thought of something, "That's right, our beauty Delores isn't all that busy lately, so how about you bring some fox merchants with you to help out. You have to know, the elves don't have a mind for business!"
Delores voluntarily joined, "I'm willing to lead the fox merchants to the elven territory and create new business ideas for the elves!"
Meng Qingwu nodded along, "That's also good!"
"We're leaving!" Vivian said in a voice filled with fighting spirit, "The beautiful future of the elves and the Forest of Chaos will be created by us!"
The three of them left the meeting room.
Meng Yingying organized the people of the production department.
Delores went to organize the fox merchants.
Vivian prepared the travel plan and schedule.
The three of them didn't do this just for the elves. Meng Yingying building large amounts of factories in the elven territory, pooling the resources of the elves, but wouldn't their final product depend on Miracle Commerce? Delores was bringing her merchants to turn stone into gold. She would allow those mines and resource fields that weren't worth a cent turn into treasures, allow those local products become specialties in the Miracle Shopping Center. She would also train elves into merchants, who would finally attach themselves to Miracle Commerce.
The richer the elves were, the richer the forest, Miracle City, and Miracle Commerce was. This was a positive cycle.
After a few days.
The first batch of deposits in the Elven Bank reached over five million!
The elves had long lives, so to the elves, three-five years weren't anything. Therefore most of the deposits were for three years and up, so most of the elven deposits couldn't be taken out in a short period of time.
What made people surprised was that the foreign deposits reached over a million!
This was the deposit sent by several cities, with each one putting in close to two hundred thousand source stones. This wasn't much for a city and it would show goodwill to the elves, while also testing the water, so they were willing to give it up.
Too much money!
How could the Elven Bank spend it all?
In order to make up the operating costs, they Elven Bank took out two million in five year deposits and stored it into Miracle Bank. Miracle Commerce's five year interest was more than double that of the Elven Bank, so just this alone was enough to cover all of the Elven Bank's internal costs.
The Elven Bank began attempting at offering internal loans.
Something the Elven King and the elven City Lords didn't expect happened. The interest in the elves applying for loans was much higher than they expected.
Some opened alchemy shops, some opened talisman shops, some prepared to sell raw materials, some prepared to sell hides, some prepared to open factories, some prepared to start mines, but most of them focused on arts and entertainment. Fore example, elven Source Energy Restaurants, elven film production companies, elven trial field manufacturers……The amount far surpassed their expectations.
Would the elves not trust their own people?
Among the elves, there were rich resources and many things undone. As long as one was willing to take a risk and use their brain a little, they would not suffer a loss.
The elves were very tolerant of their own people, not even taking deposits for the loans. As long as someone had a project and asked for a reasonable amount, the loan would be approved. In the end, there were over two hundred loans in just a few days, totalling over a million source stones!
The Elven King was so excited he almost couldn't sleep.
What was given out were not source stones, but rather seeds. He felt that his goal of reform was coming closer and closer! The elves were so enthusiastic that they were almost in a fervor, so how could the Elven King and the City Lords not support it? They immediately added another five million to the Elven Bank's deposit upper limit!
The Elven Kinng didn't care about success.
Even if it failed in the end, as long as it changed the dead end of the elves, this was something money couldn't buy!
Not to mention that with Miracle Commerce's management and the risk control by the Smart Brains, the possibility of the elves losing money was minimal. The change in the elves was the biggest benefit from this endeavor!