Chapter 617: Advantages of Compound Interest

The principal himself was very cooperative and agreed with Ye Luo's approach.

Considering the rampant corruption in disaster relief-related departments, the Jinling National Government also specially introduced various supervision and punishment measures.

Among them, the disaster relief funds are jointly responsible by the General Affairs Department, the Relief Fundraising Department and the Audit Department. The three departments restrict each other and strengthen the supervision of funds.

Within each department, the withdrawal of disaster relief funds must also go through three procedures. The chairman, the secretary-general, and the heads of each department are responsible at all levels. In addition, they must be handed over to the people of the Ye Charity Foundation in the end.

It is actually very difficult to embezzle from it.

For those who want to take advantage of the chaos, Ye Luo has also specially introduced severe punishment regulations, including but not limited to taking kickbacks, passing inferior goods as good ones, abusing power for personal gain, trafficking in disaster relief supplies, and falsely claiming disaster relief expenses.

Once verified to be true, all will be sentenced according to the current criminal law with a one-third increase in severity.

Ye Luo was still not at ease with this, so he asked the principal to set up a relief office to monitor public officials across the country, and also sent some so-called "imperial envoys" to secretly visit various places.

With the support of local governments, these imperial envoys severely exposed and dealt with a group of corrupt officials, which played a role in shaking the tiger.

The Ye Charity Foundation also set up an audit department to conduct a special financial review of the flood relief funds this time to eliminate serious corruption in the accounts.

Unfortunately, the bureaucracy of the Republic of China has been corrupt to the root. Even with so many regulatory measures, corruption still occurs in an endless stream.

For example, an official named Wang Danhou received the relief funds but did not let them go. He reported to his superiors that they were robbed by bandits.

After being exposed by local people, the county magistrate was thrown into prison and became a prisoner.

There are countless such officials, and some even colluded with foreigners to embezzle.

The Disaster Relief Committee sent the British Gutwin to serve as the director of the Yuezhou Disaster Relief Station. This British guy, together with the deputy director Liu Yisheng, colluded with local profiteers and falsely reported the freight and capacity as 100,000 yuan.

After dividing the spoils, this group of people took prostitutes to play and had a great time.

In addition, this group of people deliberately withheld the wages of the disaster relief personnel, embezzling a total of thousands of yuan every month, all of which were used for drinking and partying.

What is ridiculous and sad is that the domestic officials in the case were investigated and punished according to law, while the foreigners were at large, and even the so-called imperial envoys did not dare to intervene.

The most outrageous is a group of nest cases in northern Anhui Province.

The relief commissioner took the lead in corruption, which aroused great public indignation.

Because the case was serious, the senior management of the Ye Charity Foundation personally accepted the investigation and handed over the results of the investigation to the judicial department.

Then a strange scene appeared.

After the relief office personally accepted the case, the evidence was conclusive, but the court dragged its feet and did not make a judgment, leaving the case unresolved.

Such an absurd situation happened only because the leading relief commissioner had a strong backer, so strong that even the principal had to give him some face.

Rule of law?

Rule of man!

Song Ziwen was exhausted these days. As the Minister of Finance and Vice Premier of the Executive Yuan, he needed to be fully responsible for disaster relief affairs for such a serious flood.

On one side was the principal who didn't want to hit those old Kuomintang members, but wanted to get things done.

On the other side was Ye Luo's sister who could turn against anyone for disaster relief.

With the support of her second brother, Ye Qingqing was full of confidence. Wherever she went, the local warlords had to give her some face.

If they openly opposed the Ye's Charity Foundation, they would have to consider offending the two largest warlords in China, the overwhelming public outrage, Ye Luo, who was known as the God of Wealth, and celebrities from all walks of life.

Therefore, where Ye Qingqing was, where the Ye's Charity Foundation could reach out, the disaster situation was greatly alleviated.

But in places like Shandong Province, the people still live in pain due to the inaction of local warlords.

This pain will slowly form a storm, and sooner or later it will hit them back.

August 26.

Jinling, American Embassy in China.

Ye Luo put down the pen in his hand, looked at Song Ziwen's relieved smile, and smiled slightly.

The American Minister to China Johnson smiled and shook hands with Ye Luo: "Mr. Ye, it's an honor to cooperate with your company."

"Thanks to your assistance, and Mrs. Livermore's donation, many people will get through this difficult time. I should say it's an honor."

Ye Luo replied with a smile.

After the efforts of the Jinling National Government, the US government, the US Embassy in China, Ye Investment, Livermore Group and other parties, Song Ziwen finally successfully signed a contract to order American wheat.

And it was a credit contract.

Because Song Ziwen couldn't come up with money now, he could only buy 450,000 tons of American wheat on credit at one time.

At this time, the United States was in the most serious period of economic crisis, and domestic agricultural products were completely in oversupply.

Not to mention credit, even if Song Ziwen asked them to sell at a discount, they would be happy.

Of course, Song Ziwen did not understand the business and the situation in the United States. This cooperation was completely led by Ye Luo and Hui Xin. He was only responsible for signing and asking the Jinling National Government for money.

With these wheat, at least a large number of disaster victims can recover.

On Ye Luo's side, Hui Xin naturally used her senator status to easily find companies that could provide wheat.

Then these companies were bought out by Ye Luo half a month ago, and then the embassy contacted the United States. Naturally, the money fell into Ye Luo's pocket.

Of course, Ye Luo would not make a lot of money from this, nor would he raise the price.

Because these wheats mean human lives, he can't make money from the national disaster.

This time, Song Ziwen was able to get a credit contract and buy these 450,000 tons of wheat at the market price, which was entirely due to Ye Luo's contribution.

The current price of American wheat is only 25 cents per bushel, which is equivalent to a unit price (kg) of 0.046 US dollars.

That's right, it only costs 4.6 US dollars to buy 200 kilograms of American wheat, which is equivalent to 23 dollars.

450,000 tons, that is, 103.5 million dollars.

It can be said to be a bargain.

If Song Ziwen traded with the Americans completely by himself, it would cost 160 million dollars to buy these wheats.

Corn is even cheaper.

The price of 200 kilograms of American corn is 12 cents.

Apples are sold directly by box, 200 in a box, all in good condition, and only sold for 40 cents.

It is also very cost-effective to buy land in the United States now. Now a quarter of the ranches in the United States are listed for sale, all at bargain prices, but no one buys them.

Ye Luo's Ye Investment naturally became the largest investor in the United States, which is why Hui Xin could easily become a senator with her financial resources.

The $3 billion he earned from the US financial crisis is not just a number, but affects the development of Ye Investment in all aspects.

This is the horror of compound interest! (End of this chapter)