Chapter 1026 Looking Down on the Pound?

After the game officially started, both Joe Lewis and Coventry VI could sit firmly on the Diaoyutai, because they chose a relatively generous time point, but what they didn't expect was that Yang Cheng also seemed extremely calm, as if he didn't care about the winning of the game Negative average.

Coventry didn't understand Yang Cheng, so he couldn't help asking, "Jason, you don't seem to be in a hurry at all?"

Yang Cheng smiled and yelled a classic slogan, "Friendship comes first and competition comes second. I came to the White Club to pass the boring time. Why should I care too much about the outcome? And I don't think I'm going to lose."

Coventry was amused by Yang Cheng's slogan, slapped his hands and said, "Your state of mind is very worthy of my study, but unfortunately, today's game aroused my competitiveness."

Yang Cheng smiled and said nothing. It was less than a minute before the timer started, and everything was still unknown.

Joe Lewis suddenly changed the subject, "By the way, Jason, will you settle in London in the future? I think we can deepen our cooperation."

Yang Cheng didn't answer directly, but asked instead, "For example?"

"For example~" Joe Lewis raised his voice, looked at Coventry, and then met Yang Cheng, "For example, look at the decline of the British pound~"

Yang Cheng's heart skipped a beat, looking down on the pound? He wants to short the pound? Is this old man crazy?

Joe Lewis's panic about Yang Cheng was expected, "Believe me, I'm not crazy yet, but I'm going to be 80 soon. I've gained a lot in my life, but I'm missing a stop to establish my reputation. so..."

He didn't finish his sentence, so Yang Cheng left it to Yang Cheng to make up his mind.

What’s more, I can guess what this old guy is thinking with his toes. He has made money all his life, but he is always criticized by the outside world for being stingy and seeking pleasure. He turns a blind eye to his classic investment cases, which makes his heart proud How can Joe Lewis accept that?

So, he planned to do something big when he was not far from death. Back then, Soros became famous by sniping the pound. Now, Joe Lewis, who saw the opportunity, was going to follow suit. With the family fortune accumulated over the years, he can still be a rich man. Even if the UK deports him, he can still enjoy the world on a yacht.

The abacus was crackling, but why did they pull Yang Cheng into the water? Yang Cheng is far from death.

But after thinking about it, he knew why the old guy asked him if he had decided to settle in London. If he wanted to settle in London, it would be unrealistic to join his short-selling army. On the contrary, Yang Cheng could become his powerful ally, adding a little Success rate.

Yang Cheng is very helpless, mainly because he doesn't trust Joe Lewis' ability. If the old stock god or Soros or any Wall Street tycoon is sitting across from him, he will calm down and seriously consider the possibility of joining, but Joe Lewis, As he said, he has never had a remarkable record in the foreign exchange market all his life, so it is no wonder that he had such a weird idea when he was dying.

Just as he was about to open his mouth to change the subject, Joe Lewis preemptively said, "What caused the US subprime mortgage crisis back then, you should know better than me. I have been in the UK for so many years, and I am very familiar with market changes. , Combined with today's ZZ situation, the fall of the pound is unstoppable."

Yang Cheng frowned. There are different opinions on the cause of the subprime mortgage crisis in the United States, but if you put aside all the conspiracy and tricks of the traders behind it, and only analyze it from the perspective of the market, the reason is actually very simple:

At that time, Xiaofei Xie, whose IQ has been questioned by the outside world, was the president.

He did something he thought was right, that is, he claimed to put ZF in a cage. To put it bluntly, he meant to keep ZF away from the capital market and try not to intervene in the capital market. This policy was not thought up by Xiao Feixie alone. Yes, this is promoted by powerful forces. Of course, now we have to put aside the conspiracy to explain, so what impact has this policy caused?

You should know that under normal circumstances, Americans need to get a bank loan before buying a house. The bank will generally check whether the lender is able to repay the money, such as checking your salary slips, tax status, etc., first of all to confirm that you have the ability to repay. will lend you a loan.

However, this policy of Xiaofei Shoes directly allows ZF not to intervene in these matters, and completely leaves it to the market to make decisions. Therefore, in order to make more money, banks charge more loan interest. These conditions have become extremely loose, almost as long as you are willing. The point where you get a loan to buy a house.

However, the bank still feels dissatisfied, and feels that the amount of these loans is still too small, and the interest earned is not enough to eat. In addition, the government does not interfere, and the crazy bankers are completely bold, even those who cannot afford the down payment , As long as you apply for a loan, you will lend it all, without thinking about whether the lender has the ability to repay the money. This is the so-called "subprime loan".

Banks are not stupid. After all, the purpose is to make money. When they released a large sum of subprime mortgages, they suddenly realized that doing so would be too risky for them, but the greedy bankers were unwilling to lose the interest easily.

So they thought of Panxia. To be on the safe side, they found an insurance company to buy insurance for these subprime mortgages. That is to say, in case of bad debts, the insurance company is responsible for compensating the bank for losses.

The bankers are smart, and the insurance companies are not idiots. At first, the big insurance companies who were able to take over scoffed at this and were unwilling to deal with it at all.

But in the capital world, the bold and the timid have always been starved to death. Those small insurance companies who were overwhelmed by the giants saw a chance to turn around. In order to collect premiums from the banks and expand their basic market, they were ready to gamble. Well, quickly reached an agreement with the bank and took over at a huge risk.

In the end, the two sides really made the right bet. After the small insurance company took over, the housing prices in the United States really did not fall. Loans, and even house price appreciation, the bank actually made a little bit of money. No matter how small a dime is, it is money. With the money back, the worries of the bank gradually disappeared.

In the same way, small insurance companies basically take the bank's insurance premiums for nothing, so the banks release a large number of subprime mortgages, and the small insurance companies that have tasted the sweetness also begin to undertake a large number of this kind of subprime mortgage business, and then the small insurance companies prosper, and the big ones The insurance company is jealous, and the housing price has not fallen. This kind of business is simply picking up money for nothing. The good thing of sitting on the ground and picking up money has never happened in decades. On the one hand, I am happy to see the results. After all, the big insurance companies have a strong ability to bear risks. Everyone is a strong alliance and makes money together.

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