Chapter 1027

Accept the above. . .

The courage of the bank, the insurance company saw the profit, and the ZF followed the policy and turned a blind eye. With the joint efforts of both parties, the subprime mortgage grew explosively.

As I have said many times before, there are no real fools in the capital world. The subprime mortgages have grown rapidly, and even the insurance companies are a little scared when they rise to the point where the situation is uncontrollable. Now the housing prices will not fall, and even rise steadily. What should I do if the house price falls? This huge policy is enough to pay for the death of any insurance company.

What should I do if there is a risk? Naturally, the risk has to be transferred, just like the bank transferred the risk to the insurance company back then, so the insurance company decided to find a home for this subprime mortgage insurance, um, that is, continue to find a successor, so who is willing to take this? Seed plate?

Of course it is a venture capital company. What they do is venture capital. As long as they make money, as long as the profit prospect is big enough, they dare to invest no matter how risky they are. Anyway, not much money in the hands of venture capital companies is their own. They are unwilling to invest when they are too young, because high risks are accompanied by high returns.

However, these venture capital firms usually invest in start-up companies. Their investment philosophy is very clear. If they invest in ten start-up companies, even if only one survives in the end. .

But more than ten years ago, just as the Internet bubble burst, since then, it seems that there are very few entrepreneurs who have not yet been born. Venture capital companies can't just wait, right? So they aimlessly search for new investment projects, as long as they can make money, everything is easy to talk about.

It just so happened that the people from these insurance companies found a venture capital company that couldn't stand loneliness and had money in their hands that they had nowhere to spend. It should be Lehman. If you have a conspiracy theory, look at who is standing behind Lehman, then look at who is standing behind American Insurance Company, and finally look at who is standing behind the bank. It is clear at a glance.

Of course, we still have to go back to the perspective of the general market. The reason why venture capital companies are willing to buy these subprime mortgage insurance is because they judge that housing prices will not fall for a while, so in the future, the premium paid by the bank to the insurance company will be directly paid to itself. , the business of picking up money for nothing, and the venture capital firms obsessed with crazy profits turn a blind eye to the risks.

No, no, no, venture capital companies are very confident in themselves. They think that their analysts will analyze in advance when the house price will fall, and then just cash out and leave the market.

However, Lehman, who had made quick money for a while, also encountered the same problem as the original insurance company. The money came too fast, and they felt uneasy, but they were certainly unwilling to change hands again.

What's more, they felt that these subprime mortgage contracts had greater use value, and it would be a waste to keep them in their hands for nothing, so Lehman packaged these subprime mortgage insurances as bonds and sold them to Americans. The so-called wealth management products transfer part of the risk and make money twice at the same time. For this business, Lehman's people have begun to despise the world, but they are just a pawn on the chessboard.

As for who sell those wealth management products? Naturally, those middle-class Americans who have spare money but don’t know what it is. These middle-class people who work hard every day and earn high wages, how can they be in the mood to study financial products?

They only know that they can earn hundreds of dollars in interest when they buy this thing for $10,000 a year later.

I don't know how many times higher than the bank's low-interest deposit interest. In addition, I was born in a capitalist society and was deeply influenced by the concept of "you don't manage money and ignore you". No one thinks too much money, so I bought it naturally. , almost without too much trouble.

In fact, if everything develops normally, as long as housing prices rise steadily, this is a perfect capital transaction, but except for a few people, who knows that housing prices in the United States suddenly stopped rising in the summer of 2007.

Why didn't it go up? Because all the hot money in the US market has flowed to the other side of the Pacific Ocean and the Atlantic Ocean!

In 2005, country Z liberalized its exchange rate control, and global capital tycoons decided to rush into country Z, push up the stock market and real estate market in country Z, and then escape at a high level, letting the people of country Z take over the market themselves, and by the way, create a battle for the rising lion The financial crisis was well planned, and it went smoothly.

Since 2006, country Z's foreign exchange reserves have surpassed the small RB, and then set foot on the highway and ran all the way.

Of course, the main foreign exchange reserves of country Z are US dollars. If foreign capital wants to enter country Z, Congress Z first converts the incoming US dollars into RMB, and then reserves the US dollars as foreign exchange reserves. The increase in foreign exchange reserves means that the incoming foreign capital has increased.

If the growth of foreign exchange reserves is relatively slow, it means that everything is normal, and it is the formation of a trade surplus.

If country Z earns US dollars by selling goods through exports, it will definitely not increase suddenly, but the sudden increase in foreign exchange reserves in a short period of time means that these US dollars are not earned back, but international pure capital rushed in.

The foreign exchange reserves of country Z are growing rapidly, which means that the global hot money is flowing to Z, and then the stock market is skyrocketing, investors also make money, and their own stock market also rises, and then more and more capital follows the trend, and this cycle , So there is less and less money in the US domestic market, resulting in less and less money for US banks to lend, so what should I do? It's very simple, if you don't have money, don't lend.

All of this is a chain reaction. After ordinary people know that banks restrict loans, the number of people who buy houses will naturally decrease, because most people cannot afford the full amount to buy houses. No one will buy houses, and house prices will naturally stop rising.

At this time, the consequences of the bank's crazy lending before slowly emerged. Those who had little ability to repay the loan were gradually unable to support the high repayment pressure. They simply chose to default on their debts, or simply let the bank take away the house. When entering the auction market, supply exceeds demand, housing prices begin to plummet, and the money recovered from the forced sale is far from enough for the original loan.

Of course, the bank will not just watch itself lose money and go bankrupt. The backhand left at the beginning has played a role. The bank found the insurance company to demand compensation, and the insurance company found a venture capital company, such as Lehman, which was worth 10,000 US dollars at the beginning. For insurance, the premium was only one dollar, but now it has to pay ten thousand dollars. Lehman Brothers couldn't pay the money, so it went bankrupt.

The venture capital company headed by Lehman went bankrupt, and the insurance company couldn't afford it, and then it went bankrupt, and the insurance company went bankrupt, and the bank could only smash its teeth and swallow it, and the reserves were so small, how much loss could it make up for? ? So the bank went bankrupt.

As a result, a larger chain reaction appeared. Due to the massive collapse of investment companies, banks, and insurance companies such as Lehman, a large number of unemployed people began to appear in the United States. It must be known that at least one third or even half of the employed people in the United States are engaged in financial related work. industry.

Of course, if it's just a group of unemployed people, it's nothing. The big deal is to add a few points to the number of homeless people. In the future, the United States will also open a few more welfare relief centers. These are trivial matters.

The key is those who bought financial products from venture capital firms like Lehman. The middle-class people who bought Lehman financial products with a little spare money were crazy. drifted.

We must know that Americans have almost no savings habit, and spend as much as they earn. Most people will overdraw their credit cards. The real purchasing power depends on those middle-class people who can spare money to buy financial products.

But who would have thought that such a big game of cards would directly ruin the backbone of the United States, so the subprime mortgage crisis broke out completely in the United States, and the main consumer groups in the United States, such as the middle class, directly became the proletariat , plus ordinary people who already have no money, everyone has no money to consume. The products of the entity company are unsalable and cannot be sold, and the capitalists are also fleeing. Big employees like General Motors and Wal-Mart began to lay off employees and cut salaries, and the basics of the real industry were completely shattered.

Then? There is no more, the dollar is worthless, the real power holders in the United States are afraid, and feel that they have lost their game. If they don’t save it, they may not be able to live. You must know that a large part of their power comes from the dollar. If the dollar If they are worthless, their power will also shrink. This is a very simple reason. Can the richest man in Somalia and the richest man in the United States have the same status?

Therefore, these behind-the-scenes players began to put pressure on the U.S. ZF, and quickly took out the federal reserve to save the market, printed money for Lao Tzu, and transferred the debt to other countries. In short, it was a crazy operation and barely stabilized the dominance of the dollar , During this period, you will naturally encounter dissatisfied resistance, such as a certain country in the Middle East, why should we pay for your mistakes?

The players behind the scenes laughed, they were worrying that there was no one to scare the monkeys, and one popped up so soon, what should they do? Fighting, the best way to divert domestic conflicts is to fight, and by the way, you can also get a huge amount of oil reserves, which is much more cost-effective to buy money to cheat the poor in the country.

All in all, all in all, neither the subprime mortgage crisis nor the currency depreciation happened for no reason, and there are traces to follow. As long as you study carefully, it is not difficult to predict the form, but the people who can judge it definitely do not include Joe. Lewis, this guy has been playing foreign exchange all his life, and the most powerful time is just drinking soup after the predators. Although this soup is enough to kill him, after all, there is no real material in his stomach, just empty talk It is too whimsical for Bai Fang to fool Yang Cheng into the game.

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