How can AAC mine quickly

1. There is no special way to do this... Just feel free. The key is how much effort you have and whether you have the mind to hang up for a few months to decide your achievements. For example, starting from level 4, you can get 4 points of experience at a time when you punch in level 4, but you can also get 3 points of experience when you punch in Level 3. At this time, if you want to punch out skills, you can consider digging silver at Level 3, because silver at level 4 is much slower than silver at Level 3... As above, level 5 can consider digging silver at level 4, because gold is much more difficult to dig than pure silver... And so on until level 8, Level 8 can dig level 6 white gold mine, and there are 3 points of experience. When it comes to level 9, it is recommended to dig silver. Although it takes 1 point of experience to dig once, the speed is much faster than that of level 7, 8 and 9... Advanced mines are really difficult to dig OTZ... Have a good time

2. Copper mine
recommended proction area: kazimodan rockmodan
main role: Engineering forging
associated Gemstone: Malachite tiger eye poor quality stone
suggested retail price: 1-1.5

comments: most copper mines are proced in kazimodan and rockmodan, because they are relatively convenient and mountainous, According to my experience, no place can proce more than these two places. The consumption of copper mines in mature servers mainly comes from people who are engaged in rapid prototyping engineering. For example, eight of the 10 who fight in the battlefield can drop bombs, which plays a relatively high role in alaxi. As for forging, most of the people who practice mining will not buy them, Most of the engineering people don't study mining, and those who study engineering on the way are basically learning from others for fun, PK and so on, so they will give up one of their 300 major and ask them to give up both of them, which is basically very few, so the market is still considerable

as for associated gems, To be honest, it's not very useful except that some people make some glasses (such as the flying tiger goggles in the early stage) to be cool, It can basically ignore

tin ore
recommended proction area: lockmodan
main role: Engineering forging
associated gem: tiger eye, secondary Moonstone, rough stone silver ore
suggested retail price: 1-1.3

comments: the main proction area is the west of lockmodan Rock Lake, with many refresh points, because iron ore needs 125 to be collected, So it's the fastest to practice to 125 there. It's really the fastest in other places Caliudo is not very clear about it (our alliance) and its main function is engineering, but its consumption is smaller than that of copper ingot, so its price is lower than that of copper. However, the price of rough stone is similar to that of copper, and it is mainly used for making bronze ingot, Associated gems are basically collectibles with no real value

iron ore
recommended proction area: altrank mountains
main function: iron sheet masturbation brotherhood reputation
associated gems: secondary Moonstone jadeite Topaz heavy stone gold mine
suggested retail price: 4G

comments: iron ore in most servers, its price is even higher than the highest level Because he is the main raw material for making iron grenades, iron grenades (need 1 ingot, 1 heavy stone, 1 silk to make 1-3 at a time) are the essence of engineering. Almost all engineering people have several groups in their bags. According to the knight's words, since he has no pain in the waist and legs, he doesn't tremble to see the tribe.. Because the materials of other grenades are cumbersome, and iron sheet is the most economical bomb. It's very easy for people who open the flag in alx to use it. It's dizzy to throw it. As for the reputation of Se Yin, it can be flushed with Huang Xue Cao. Now the price of this thing is very low. The price of heavy stone is 4G + compared with that of iron ingot, because it costs 4 + 4 + 0.5 = 8.5 for a group of ingot + 1 group of stone + 1 group of silk, 40 Grenades can be made, and each cost is only about 20Y, Because the economic benefit of this place is much higher than that of other collection areas, especially double collection. In this small area, there are 6 winterthorn, 1 graveyard, 3 withered leaves, n Acanthopanax, and 6 mineral spots. All of them are herbs and minerals with high price. Some people sell ice cream oil and cold ice deflector formula. The double collection skill here is the best, Mining starts at 125 and grass starts at 160. You can rush until you see that the iron ore doesn't improve your skills, and then you can change places. The income here is generally more than 30g an hour, and you can also rush skills by the way, When you go back to the city, you can also go to Nanhai groceries to buy 2 scrolls, deputy magic wrist 2 defense skills and a blue tailor's formula, ice cloak + ice resistance and enrance. If you see the goblins, you can also buy the formula of Bo ware and stealth device. Basically, these scrolls 15y, 2G each, ah are very easy to sell, Sometimes someone wants the new formula 1g of rat tail rain
it's basically free money, which is completely convenient. Besides, this is a place where many trumpets concentrate on their tasks, but it's very difficult for one person to complete the task. If you can help to do the task conveniently, the point G will not affect the grass running point and the mineral spot. Ha ha<

Mitsui silver mine
recommended proction area: barren land
main function: forging engineering punching skill is not particularly useful
associated gem: Black sulfate Ruby Topaz solid stone real silver mine
recommended retail price: 2g-3g
comments: the most common of all ores, the use is only punching skill (including mining skills), and the output is very high, People who dig this mine are basically for skills. It's really... Black sulfate alchemy needs a little bit. Ah can blackmail if it is out of stock. This gem has the lowest drop rate of all associated gems I have ever seen. Ruby hunter's + 7 sight is in need, but there is still a bit of market, because every hunter needs a secondary sight, and MC is just slag
the best place to dig this mine is barren land. Barren land has 6 refresh points in the canyon where JY dragon is painted, 2 refresh points in the volcanic cave, and about a dozen refresh points in other areas, which is the most place to brush this mine in all maps. Moreover, it's very convenient to go there. It's only a short distance from iron. In addition, barren land has 4 refresh points for stone elements, They're all about 38-42. It's easy to kill them. Basically, when you pass by mining, you can kill them. When you kill a pile of stone elements, there is usually one element soil. Now the element soil group is nearly 10g!! In addition, if it's a double collection, there are three new points for withered leaves in the wilderness, one wild rigidly flower in the four stone brush elements, and one wild rigidly flower in JY dragon by the back door of audaman. The current prices of these two herbs are about 15-20, The most important thing is that very few people compete with you for the mine (it's really brain broken not to dig skills to make money), so you can sweep all the way slowly
it may be ignored by many friends. This herb's tough potion (120 life) can be superimposed with TT, which is almost necessary for large copies, However, it's very difficult to collect (only proced on the hillside near the wind...) so it's absolutely no problem to sell a group of 20

ordinary silver ore
recommended proction area: feywood forest
main function: Circus punching skill
associated gem: sapphire Ruby Azeroth diamond (originally not, Later, a revision of Blizzard might not be able to see it any more. + ground) heavy stones
suggested retail price: 4-5g
comments: when it comes to waste materials, there is no more waste materials than this kind of ore. ordinary silver mines can only dig 2 times at most, and the probability of procing gems is really not average. Moreover, their proction areas are generally rich in minerals, and the people who dig this kind of ore are basically skilled, Imagine.. When you are looking for silver ore in burning places like this, what you see is the silver ore in fuser. What's your mood? Ah... It is strongly recommended to rush the skill to 250 directly in the wilderness
you can dig black iron and then burn it, otherwise you will be very depressed. Do you really want to dig Go to feywood. Although there are many people, they are basically digging grass and rabbit party. They generally ignore this kind of mine. You can also dig radish and blood by the way. The price is good
the function is basically used in circuses. The dark moon talisman (Pearl) can be exchanged with 45 groups of ingots and 15 groups of cloth, or with heavy stones and 60 groups of cloth. Generally speaking, there is not much demand for punching skills. I know several 300 projects that are 250 can make Silver parts and 300 can be made directly. Forging may be necessary, and the grinding wheel will be gray as soon as I learn, Miserably read....

black iron ore
recommended proction area:..... En, it seems that there are burning and canyons outside the
main function: lust brotherhood black iron sleeve fast shadow reflector fast flame reflector
associated gem: blood of mountain range Black Diamond
suggested retail price: 1 ingot for 4-5g, not black
comments: origin Blackstone abyss and MC, basically monopolized by thieves, Later, the demand was too large, because of the limit of 5 copies per hour, the output was limited, which led to a sharp rise in prices. Later, Blizzard landed in the canyon and burned ore (and stripped off some of the burning rich ore sites).. In the early days of the server, the trade union also provided some parts for some knights, so the sales volume was good. The blood of the mountain is the heart of the smoke mountain, 150 armor + 8 total resistance? I don't remember), the proction of sub demons, although the drawings are not bound, but the finished procts are bound, so you can only learn the sub demons (a bit like a tailor), but it's OK for you to rush the sub demons to do this and then forget it. In fact, it's not much different from the element barrier of the black dragon key reward, at most it's the difference between the big demons and the strong ones.
black diamonds are in great demand, and the sub demons need it, The price has been rising all the way and is approaching 40g
originally, it was the fastest to dig this mine thief or D to go to MC. Later, because a patch MC mine closed down, we can only see the canyon and the burning. There are not many mines in the canyon. There are two spots in the twilight cave. There are several spots in the melting pot, and the burning is more, Most of them are concentrated in the holes on the fat man mountain, so shadow reflectors and flame reflectors are needed, so the market prospect is good

in addition, learning to smelt black iron ingots is in the Blackstone abyss 7 dwarf, and the second one is on the right hand (there is a furnace nearby). You need to give him gold ingots, real silver ingots and ruby to learn, Smelting needs to go to the abyss MC gate to melt 8 mines and 1 ingot

fuser silver mine
proction area: Dongquan Valley East plague West plague Isala circle mountain Burning Plain
main function: the main function is not that it is the accompanying oshuiha.. The role of minerals is a circus
associated gems: sapphire, ruby, giant emerald, Azeroth diamond, arcane crystal, big cat's eye, heavy stone, real silver mine
suggested retail price: 4-5
comments: This.. We all have our own understanding. I don't want to say my own stupid ideas. Burning, Isala, I haven't been to much (our f tribe is not so many)
there are 11 spots in Dongquan Valley: Hidden stone, undead lake, Hanshui village, snowman cave, Dragon Cave, Xiaoshou Village (there is a giant pit at the gate of the elf station), There are four points in the valley of code language
there are two in the west of plague: the hole opposite mantelpiece Valley and laofuding, which is called crying cave. There are nine points in the east of plague: one under the high-precision hut, one in Troll City, one where some spiders and humanoids stand together, one in the flag of making love and family mission
two in mushroom Valley, one in each of the two sunken pits, There's only one round hill in tyre, which has only SS task of brush hunter. There's rich ore brush nearby, and there's also Huoyu mountain brush, which hasn't been g very much. I'm not very clear about the value of Ordovician water, needless to say? Because the appearance of imperial weapons is bullish
sapphire as fortress and lion heart needs a certain market, giant emerald as battlefield mission needs a few other gems, you can ignore

being covered by mud

3. Mining in order to rush up the sub magic glove mining plus 5 is necessary, which can save you a lot of time. First of all, it's necessary to explain. I don't think it's necessary to take a mining map to find it. A map is not big enough. You can find out where to brush it if you visit it twice. If you blindly pursue mining by mining map, you may be misled. There is also the practice of mining to take less time to practice, such as 2 o'clock in the evening, ha ha. Before 75, you can go outside the main city to mine copper and smelt copper. After 75, you can go to the map above the barren land. Copper mining and tin mining have smelted bronze until 125 (if FM + 5 to 120 is OK, it's the same at the back, you can leave 5 o'clock in advance). This is a difficult stage. Don't speculate and want to find a fixed place to brush silver, That would be futile. 125. The recommended location is arahi highland. Turn around the surrounding mountains. If you have a hole, you can enter it. If no one grabs it with you, it won't take long to reach 175. The recommended place for collecting Mithril is wasteland or cintland, both of which are Mithril paradise. If someone grabs it from you, change it to another map. It's also around the mountains. It's important to note that there is a cliff on the far right side of singland. Don't fall down. If you don't fall down and you're not dead, I suggest you drown in the water and resurrect directly. In these two places, 250 is the best. The recommended location for silver mining is burning plain or feywood. There are several ore brushing spots in fat man cave, but it's not easy to find out which cave it is in. Therefore, if you are not familiar with the situation in the cave, it's recommended not to mine it. Just go around the mountain. These two places don't need to stay for long. Just go to 275. 275 the wormhole of hilisus, the recommended place for collecting silver from fuser, is absolutely paradise. As long as you choose the time to rob no one, it will soon be 300. The key is to be familiar with the wormhole map. Or you can choose to go to Dongquan Valley, where there are many rich mines, but the map is too big to run. 300 magic iron ore Hellfire Peninsula, turn around Hellfire, if you have big birds, of course it will be quite fast. Again, don't believe in the distribution map of mineral deposits. Your memory is better than anything else. It's only 330 here. Daofeng mountain, 330 Jingjin mine, is really a paradise for miners. You can graate here. Now it's a wise choice to practice forging mining and forging together, otherwise it's hard to flush. Unless you have more money, my strategy will be very simple if you are mining. Before 300, I didn't say how much to do, but I can clearly analyze what is cost-effective when I am at NPC, and only say a few sad points. When you can make secret silver equipment, the money is good enough. Basically, your mining is enough. It's better to practice mining and forging at the same time, with forging as the main method and mining as the auxiliary method. When you can make secret silver, basically your mining has passed the stage of stepping on secret silver, but I suggest that you continue to pick secret silver and forge until you can make silver equipment. There is a drawing for making secret silver, secret silver spurs, which can leave a lot of mines, but this drawing is dropped from the world. Ah is usually very expensive, so I didn't use this drawing to make secret silver spurs. It's a hard time to be equipped with silver shield. It's 275-300. It needs a lot of silver shield. Of course, there's a pattern that can be used. The remaining material is silver shield, which is also the world drop. If you don't want to spend this unjust money, you can go mining by yourself. Here is a piece of gossip. After you can make high-grade minerals, I suggest you sell the remaining low-grade minerals, including those precious stones, which can earn a part of money. If you are useful, you can keep them. In the future, you need a part of money to make 360, so I sold them all at that time. 300-330 can be used as magic iron equipment and secondary enchantment rune. It's very easy to go to 330-340 to make pure gold heavy hammer. Many of the strategies of this thing are written about pure gold sharp axe, but I did make hammer when I made it. This design is sold by NPC. If you don't buy it in esoda alas silver moon city enrid, don't wait for 15 minutes. NPC designs are very fast, There's no need to go to ah to buy 340-350 secondary protection runes. There are many strategies for this design. The names are different, but it doesn't matter. NPC also sells 350-360 refined gold balance stone or refined gold grindstone in shadow Moon Valley Mari stone fist savage hammer (Horde) (Hellfire Peninsula), which are purchased from NPC of cenario expedition in zanga swamp, We need prestige and respect. We can do whatever weapons we use. These can be used in the future. 360-375 here is the key point. Many of the strategies are for magic steel or prestige equipment. However, I recommend that hengjinbang NPC buy it, and the above secondary protection rune is bought by the same NPC. This can be done all the time. Although the equipment can be sold for money at 375, in this version, anyone who goes to 70 will buy these primary equipment by directly contracting KLZ, ZAM regiment or G regiment to buy T4, T5 upgrade equipment. And Hengjin is not expensive, because Hengjin is not used much, mainly for smelting magic ingot, and it doesn't need much, so most servers Hengjin are very cheap. It's very cost-effective to do 375. The price of F is 3G ingot. That is to say, it only needs 12g to buy ore directly. The procts directly thrown into NPC have 4G. What's the waste of 8G in punching and forging? The low-grade ore sold in front is enough. Of course, it depends on the character after 370, when the edge is green. You can choose the pattern from other strategies. At that time, I didn't bother to brush the magic steel pattern, so I took it to 375. If you brush the magic steel pattern, you can use the punch from okington crypt.

4. In the first three games, it's not good to attack
it's very difficult to play
mine
dig bones to sell
all these are good
and dig treasure<
I'll arrange a work schele for you
get up at 8:00 in the morning
pull saw for three times
dig bones for 2 hours (
if the level of digging bones is higher than 2 hours, you can earn 10000 pieces
look at the market price
maybe more than 100000 pieces)
12:00 at noon
open the door of time and space
dig treasure at noon
at night
if you have the capital
sell equipment
no money to continue digging bones < br />Hang up all night
upgrade
hope to help you

5. Before 75, you can go outside the main city to mine copper and smelt copper. After 75, you can go to the map above the barren land. Copper mining and tin mining have smelted bronze until 125 (if FM + 5 to 120 is OK, it's the same at the back, you can leave 5 o'clock in advance). This is a difficult stage. Don't speculate and want to find a fixed place to brush silver, That would be futile. 125. The recommended location is arahi highland. Turn around the surrounding mountains. If you have a hole, you can enter it. If no one grabs it with you, it won't take long to reach 175. The recommended place for collecting Mithril is wasteland or cintland, both of which are Mithril paradise. If someone grabs it from you, change it to another map. It's also around the mountains. It's important to note that there is a cliff on the far right side of singland. Don't fall down. If you don't fall down and you're not dead, I suggest you drown in the water and resurrect directly. In these two places, 250 is the best. The recommended location for silver mining is burning plain or feywood. There are several ore brushing spots in fat man cave, but it's not easy to find out which cave it is in. Therefore, if you are not familiar with the situation in the cave, it's recommended not to mine it. Just go around the mountain. These two places don't need to stay for long. Just go to 275. 275 the wormhole of hilisus, the recommended place for collecting silver from fuser, is absolutely paradise. As long as you choose the time to rob no one, it will soon be 300. The key is to be familiar with the wormhole map. Or you can choose to go to Dongquan Valley, where there are many rich mines, but the map is too big to run. 300 magic iron ore Hellfire Peninsula, turn around Hellfire, if you have big birds, of course it will be quite fast. Again, don't believe in the distribution map of mineral deposits. Your memory is better than anything else. It's only 330 here. Daofeng mountain, 330 Jingjin mine, is really a paradise for miners. You can graate here

6. Mining requires the miner to buy a hoe and put it in his backpack. When he sees the mine, he can directly right-click to mine it (the level of ore generally changes with the map. Generally, the higher the strange level is, the more skilled he is in collecting ore). The ore can be smelted in a furnace, which is also a long experience (generally, there is a furnace beside a blacksmith)
the extracted stone and melted ore can be used as engineering materials. Some projects need blacksmith hammer (to buy) and iron felt (usually next to blacksmiths). Ordinary recipes can be taught to engineering trainers or bought in shops. Rare recipes are dropped<
cooks need recipes, trainers and shops, and they need fire (this skill will be acquired automatically after learning the cook) and food materials (fighting strange things and falling)
fishing needs fishing rod (purchase). When fishing, go to the water side to equip the fishing rod and point the fishing icon (it will appear after learning the fishing skill)
the first aid is the simplest. You can click the learned icon as long as you have cloth
all skills need to be proficient in order to be promoted. If you are 50, you can learn intermediate and advanced skills.

7. You just need to dig a lot.
pay attention to dig several pieces in one place and then change to another place. Don't stick in one place all the time

8. Turn, see, absolutely
50 years ago, I practiced at the 5-10 level transfer station map of each race. ha-ha. Mineable copper
at 50, you can learn intermediate Sao. Now you can go to the 20-30 transfer station to study. It is recommended to study in (wetland) here, which is mainly in the cave beside the waterfall in the north of the map. After 125 years of training, I graated from the wetland. Copper, silver, iron and scorpion can be mined here
the place where you can enter LM BL now is thousand needle stone forest. This is a good place 125-175. If you are not happy here, you can beat me. Here you can mine copper, tin, iron, silver and gold
when you get to 175, you'll be happy now. You'll move to the wasteland immediately. I don't know why the mine is so big. You can ride your mount and run freely, but don't run to the top corner of the map. Want to kill NPC play can go to ha! You can pick (real silver) when you practice 230 here, but it's good to practice 245 here. The minerals that can be collected are iron ore, gold ore, silver ore, true silver and secret silver
now you can go to the scorching canyon. The black iron is waiting for you. If you don't go, he will cry. If you are tired of mining, you can go to the melting pot to watch the fire. But I believe you are sweating and don't want to leave the fire. You can practice 275 here. Congratulations when you get to 275. It's time for you to graate from mining school, Although I'm only 275, what's the matter? I can't mine any mine. It is mainly used to collect the iron ore from the true silver gold deposit in miyin and the black iron ore from the gold deposit
now you can go to East plague to realize your dream of becoming rich. Arcane crystal is watching you smile. If it's a thief, I'll go to xilishu and tear it. No one interferes with it, but I'm indifferent to it
according to this method, it's normal to go from 24 hours a day to 300 hours. It took me only 17 hours to get there. This is the mining time, not the whole time from 1 to 300

9.

bus route: commuter bus line T1 → k911, the whole journey is about 17.8km

1. Walk about 90m from Shungeng road to Shunyu community station

2. Take commuter bus line T1, pass 2 stops, and reach east station of Yanshan overpass

3. Take k911 Road, pass 13 stops, and reach Shunhua Road Station of South Instrial Road

4. Walk about 770m, Arrive at Jinan International Convention and Exhibition Center

10. In terms of its structure, money market includes interbank market, bill discount market, short-term government bond market, securities repurchase market, etc. The initial motive force of the emergence and development of the money market is to maintain the liquidity of funds. With the help of various short-term financing tools, it connects the capital demanders and the capital suppliers, which not only meets the short-term capital needs of the capital demanders, but also provides opportunities for the temporary idle funds of the capital surplus to obtain profits. But this is only the superficial function of the money market. If we put the money market in the environment of financial market and market economy, we can find that the function of the money market is far more than that. The money market not only provides banks and enterprises with flexible management means from the micro level, making them more convenient and flexible in the management of the unity of capital security, liquidity and profitability, but also provides the means for the central bank to implement monetary policy to regulate and control the macro-economy, and plays a huge role in the development of the margin financial market< Under the condition of market economy, all kinds of economic actors can be divided into surplus side and insufficient side, which can be divided into two categories: long-term capital surplus and short-term capital surplus and short-term capital surplus and short-term capital shortage. Compared with the capital market, they provide services for the supply and demand of medium and long-term capital, Money market provides a feasible way for seasonal and temporary financing. Compared with the long-term investment capital demand, the short-term and temporary capital demand is the most basic and frequent capital demand of microeconomic actors, because the short-term temporary and seasonal capital shortage is caused by the frequency of daily economic behavior, which is inevitable and frequent. If this kind of capital gap can not be made up, Even the simple reproction of the society can not be maintained, or can only make the commodity economy at the primary level. The short-term financing function is a basic function of the money market

2. Management function

the management function of money market mainly refers to promoting microeconomic actors to strengthen their own management and improve their management level and profitability through the development of their business activities< (1) interbank lending market and securities repo market are concive to the improvement of business operation level and the realization of profit maximization of commercial banks.
interbank lending and securities repo are the main channels for commercial banks to finance short-term funds in the money market. Fully developed interbank lending market and securities repo market can timely and moderately adjust the surplus and deficit of commercial banks' reserves, so that commercial banks do not need to keep a large amount of excess reserves in order to cope with the withdrawal or cash, so as to make full use of all kinds of assets that can be used for high yield, which can be called "killing two birds with one stone". Therefore, commercial banks should use scientific methods to manage the liquidity of funds, which makes the asset liability management of commercial banks leap to a new level
(2) the bill market is concive to strengthening the operation and management of profit-making enterprises and improving their own credit level
the bill market can be divided into the bill issuing market, the bill acceptance market and the bill discount market in terms of bill behavior, and can be divided into ordinary enterprise bills and bank bills in terms of issuing subjects. Only the subjects with good reputation and good business performance are qualified to issue bills and are recognized and accepted by the society in the aspects of issuance, acceptance and discount. The bills issued and accepted by subjects with different credit grades have obvious differences in rights and obligations, such as the level of interest rate, the strength of bill liquidity, the amount of mortgage or pledge, and so on. Therefore, the enterprises that try to obtain short-term funds from the bill market must have good reputation, and only the enterprises with scientific management and good efficiency can meet such conditions

3. Policy transmission function

money market has the function of transmitting monetary policy. As we all know, the central banks of market economy countries implement monetary policy mainly through rediscount policy, legal deposit reserve policy, open market business to influence market interest rate and adjust money supply to achieve the goal of macroeconomic regulation and control. In this process, the money market plays a fundamental role
(1) the interbank market is an important channel to transmit the monetary policy of the central bank
the central bank transmits the monetary policy through the interbank market, with the help of the influence on the interbank offered rate and the excess reserve of commercial banks. First of all, the interbank offered rate is one of the most sensitive and direct rates in the market interest rate system to reflect the central bank's monetary policy, and becomes the "signal light" of the central bank's monetary policy changes. This is because, in the developed financial market, interbank lending activities involve a wide range, large trading volume and frequent transactions. Interbank offered rate has become the basic interest rate for determining interest rates in other markets. In the world, there is a method to determine the interest rate by adding or subtracting the agreement range on the basis of the interbank offered rate, especially the London Interbank Offered Rate (LIBOR). Through the operation of monetary policy tools, the central bank first influences the interbank offered rate, and then affects the whole market interest rate system, so as to achieve the purpose of regulating money supply and macroeconomic regulation. Secondly, as far as excess reserves are concerned, the developed interbank lending market will keep the excess reserves of commercial banks at a stable level, which obviously creates a good condition for the central bank to control the money supply
(2) the bill market provides the central bank with the carrier and channel of macro-control
the traditional idea is that the bill market is only limited to clearing, and even the short-term financing function is often ignored. In fact, in addition to the above two basic functions, the bill market also provides an important carrier for the central bank to implement monetary policy. First, the rediscount policy must be implemented in the bill market. Generally speaking, if the central bank increases the rediscount rate, it will shrink the bill market, otherwise it will expand the bill market. At the same time, the central bank adjusts the rediscount rate timely through the feedback of bill market information, and achieves the ultimate goal of monetary policy through the change of intermediate target of monetary policy. In addition, with the continuous improvement and development of the bill market, the stability of the bill market will continue to increase, which will form a market price that can freely change with the market law in an equilibrium state and be acceptable to both supply and demand. The market interest rate is reflected in the capital price, which is undoubtedly an important reference for the interest rate policy of the central bank. Secondly, a variety of bills is one of the tools for the central bank to conct open market operations. The central bank can flexibly adjust the money supply by buying or selling bills to put in or withdraw money, so as to achieve the ultimate goal of monetary policy< (3) treasury bills and other short-term bonds are the main tools for the central bank to conct open market operations.
compared with the deposit reserve policy and rediscount policy, the open market business has obvious advantages, which makes the central bank in an active position, its scale can be large or small according to the needs of the macro economy, and the trading methods and steps can be arranged at will, At the same time, the concealment of its operation will not change people's psychological expectations, so it is easy to achieve the ideal effect. However, the operation of open market business requires the central bank to have a variety of securities of considerable scale and variety, among which Treasury bonds, especially short-term treasury bonds, are the main variety. Because of the excellent credit and strong liquidity of national debt, it meets the needs of open market business operation. At the same time, the operation of open market business mainly affects the change of money supply in the short term. Therefore, there are more requirements for short-term bonds and bills. Therefore, treasury bills with various maturities, which are generally accepted, have become the main tools for the central bank to conct open market operations< 4. The function of promoting the development of the capital market, especially the securities market. First of all, the developed money market provides a stable and abundant source of capital for the capital market. From the perspective of capital supply, the level of capital provided by the surplus side is from short-term to long-term, from temporary to investment. Therefore, the money market builds a "capital pool" between the capital supplier and the capital market, and the indispensable short-term capital of the participants in the capital market can be met from the money market, And the capital that withdraws from the capital market can also find a way out in the money market. Therefore, the money market and the capital market are like a pair of "twin brothers", which can not be neglected by either side. Secondly, the sound development of the money market has reced the impact on society caused by the change of capital supply and demand. The capital retreating from the long-term market has a way out, the impact of short-term hot money on the market has been greatly reced, and speculation has reached the maximum possible inhibition. Therefore, only when the money market is developed and perfected can the funds in the financial market be reasonably allocated. From the development of the financial markets in most developed countries in the world, we can conclude that "money market first, then capital market" is the basic law of the development of the financial market
hope to adopt