Chapter 243 part 1 – The Showa 7 Fiscal Year Budget

Just as the situation on the continent was drifting once again into some strange dimension unknown to me, the Japanese archipelago was wrapped in a sense of anticipation. The Great Demon King of Inflation, Finance Minister Takahashi Korekiyo, was unveiling a large-scale expansionary fiscal policy for the coming year’s budget.

And once again, the talk of the town was that “the Ootori princess has presented ‘golden sweets’ to the authorities.”

For the record, what I presented to the state this time was also gold bullion, worth ten million dollars. Converted into yen, at the March exchange rate of roughly 2.70 to 2.80 yen per dollar, that comes to about 27.5 million yen if we split the difference. Using this as backing, government bond issuance will be increased, with around 65 to 70 million yen expected to be issued.

Even when backed by gold, however,