Chapter 35 Banquet

"Ulyanov, a famous Soviet economic expert and the first deputy minister of the Ministry of Foreign Trade and Economic Cooperation of the Soviet Union, claimed that there is a serious bubble in Japanese subprime mortgage products in the global market, and investors should quickly stay away from this market. [The latest chapter reads ]” The Times

"Father of subprime mortgages is openly bearish on subprime mortgage products, claiming that the current subprime mortgage market is worthless." The New York Times

"Father of Subprime Mortgage Ulyanov Accuses Japan's Large Financial Institutions of 'Water Injection' in Subprime Mortgage Portfolios, Filling It with a Lot of Junk Debt" Bloomberg

Following the publication of an article by Sergei Shale in the Economist magazine criticizing the chaos in the subprime mortgage market, major financial media in the world followed up with reports, and almost all the financial professionals in mainstream countries all over the world knew about it. Known as the "Father of Subprime Mortgage", Ulyanov is completely bearish on subprime mortgage products targeting the Japanese market. One stone stirred up a thousand waves, and Sergey's remarks immediately triggered a big discussion on Sergey's views in the financial circles. However, the Japanese media organizations were the first to stand up to refute Seryozha.

"Mr. Ulyanov has never set foot on the land of Japan. His remarks are just his own speculations. People all over the world know that Japanese people have a super high savings rate. The Japanese personal credit market will not be the same. There is no possibility of a serious bubble. There is no sign that there will be problems in Japan's real estate market and stock market. As long as the economy continues to grow, subprime mortgage products based on the personal credit of Japanese nationals will not have any problems." Sankei news

"Ulyanov has never systematically studied economic theory, and the Soviet Union is a planned economy country, he knows nothing about Japan's economy" Asahi Shimbun

This article by Seryozha is tantamount to pushing him to the forefront, but many people do not believe the views expressed by Seryozha in the article. In fact, apart from making waves in the news, no large financial institution took the initiative to sell a large amount of subprime mortgage products.

Sergey's old friends in the UK called one after another to ask him why he published such an article. Sergey truthfully told the other party on the phone that he was not optimistic about the continued improvement of the Japanese economy. But this ambiguous answer is not convincing.

There are too few people in this world who can realize that there is a huge bubble in Japan's economy, because Japan's economic strength is too strong now.

Japan has the largest foreign exchange reserves in the world. Although its economy ranks second in the world, its growth rate has remained high all year round. Compared with the recession in the world, the vitality of Japan's economy is a miracle.

According to the current economic growth rate, Japan's economic volume will soon surpass that of the United States to become the world's largest economy. He is now not only the largest creditor of the United States and Western European countries, but also the largest overseas investor of major Western countries. With its powerful funds, Japanese banks have acquired a large amount of land in the United States, and even the landmark Rockefeller Center in New York belongs to the Japanese.

On the Champs Elysees in Paris and Oxford Street in London, Japanese tourists are crowded in front of major luxury stores, making countless Europeans and Americans envious, jealous, and hated. But Seryozha wants to tell the world that all this is an illusion and a bubble.

After Seriosha published this article, he did not respond to the attackers. Instead, he let the Foreign Trade Bank quietly exchange yen in the foreign exchange market in the City of London and continue to send it to Mikhail in Tokyo, Japan. .

With the strong capital of the Foreign Trade Bank, the cash flow in Mikhail's hands has grown faster, and the exchange rate of the Japanese yen against the US dollar has remained stable at the exchange rate of 250 to 1 throughout the year. A large number of yen was bought, but this ratio has hardly changed significantly. The reason is that the Ministry of Finance and the Bank of Japan deliberately manipulate the yen to maintain a low exchange rate, because the appreciation of the yen is of no benefit to Japan's exports.

More than a month later, after Sergei's continuous market operations, the funds in Mikhail's hands have exceeded 25 trillion yen, which is about 100 billion U.S. dollars. At the same time, Seryozha also transferred about 500 billion US dollars of foreign exchange reserves belonging to the Foreign Trade Bank to the United Kingdom. The amount of money was too large. In order to cope with the quarterly inspection by the Central Ministry of Economic Affairs, Xie Liaosha had no choice but to let Gaoman and others create a fake account to pass the test. As long as they don't go to the underground vault of the Foreign Trade Bank, the real situation will be impossible to discern.

Sergey's deception is actually very dangerous, because once things fail, Sergey will immediately lose Gorbachev's trust and even be sent to prison. But risks and benefits are directly proportional, and Seryozha is not a timid person.

Seryozha reactivated a series of leather bag companies that were used to launder money in offshore financial centers. The accounts of these leather bag companies were quickly injected with cash ranging from hundreds of millions to billions of dollars. Soon these funds were invested in the frantic purchase of yen futures forward contracts in the foreign exchange market.

Mikhail's Colombian Bank has now become the guest of honor of major Japanese companies. As long as you have the heart, the major consortiums in Japan know that there is a lot of cash in the accounts of the Columbia Bank. Now Japan's stock market and real estate market are extremely hot, especially real estate. As Tokyo's land prices are getting higher and higher, real estate companies' thirst for funds is becoming more and more serious.

The Seibu Group of Tsutsumi Yoshiaki, the richest man in the world, offered an olive branch to Mikhail. Invite Columbia Bank to participate in a high-end residential project in Chiyoda-ku, Tokyo. Due to Yoshiaki Tsutsumi's status in the Japanese business world, Mikhail had to give the other party this face.

The meeting place was in an upscale restaurant in Ginza. Accompanied by a maid in kimono, Mikhail walked into a box called Tingzhu Pavilion in the restaurant. When the door of the box was slowly opened, Mikhail found that there was another person in the room that he had never seen before.

"Hello, President, I am the vice president of Rikuruto Co., Ltd., Kosho Chang!" Before Mikhail could ask, the other party stood up and bowed deeply to Mikhail, and then respectfully handed over the business card.

"Vice Jiang, what kind of business does your company run?" Mikhail looked at the business card and asked kindly while sitting down.

"My company is in the real estate business!" Jiang Fuhao said while pouring wine for Mikhail, nodding and bowing.

ps: The Rikulut incident was one of the four post-war scandals in Japan. Jiang Fuhao bribed a large number of Liberal Democratic Party officials like Takeshita Noboru, and Abe’s father was also involved