Chapter 1643 Add More Updates for Dr. Ye
? Sending away Michael Bloomberg, the mayor of New York with a constipated expression, and Andy, who felt that he had done a great thing for his hometown, left a pile of signed documents, and rushed to the Gaia Building (formerly known as Gaia Building) with his assistant Lehman Brothers Building), held a think tank meeting.
"The current government has always believed that privatizing the banking system is the right way ... but the government will "adequately supervise" the banking system at the center of the financial crisis."
On the LCD TV in the conference room, White House Press Secretary Robert Gibbs clarified the rumors about the "bank nationalization" positively during the US stock trading session. This is what the White House was forced to do.
Because after the opening of the U.S. stock market, it was affected by this and continued to fall. What's more, the Dow Jones Index constituent stocks with the highest decline include Citigroup fell to $1.95, a drop of 22%, and Bank of America fell to $3.79, a drop of 3.6%. General Electric fell to $9.38, or 6.8%, and General Motors fell to $1.77, or 12%.
Five of the 30 Dow stocks are currently trading below $10, which has been unbelievable in the past. What makes the market panic even more is that the so-called argument that buying large-cap stocks can guarantee investment safety is no longer tenable.
Comments from the White House about wanting to keep the banking system private kept bank stocks from losing ground, at least not further losses, but rumors of nationalization still dominated the market. Few investors are willing to hold on to bank stocks over the weekend.
In practice, after all, several large U.S. financial institutions have been nationalized to some extent, including Freddie Mac and Fannie Mae, which the government took over last year. In addition, the FDIC is currently closing several small banks and selling off their assets, which is also a form of nationalization.
"Stephen, I will leave the takeover work of these seven banks to you. Complete it as soon as possible, digest it, and open for business on time next Monday. Don't affect the flow of funds of our customers."
After reading the White House press spokesman's clarification, Andy waved his hands, and soon someone turned off the TV and turned their attention to Stephen Nuby, CEO of Yingtai Bank.
"Understood, boss. After the meeting, I will bring people over to handover with them. A weekend is enough to complete the initial integration." Stephen Nuby, wearing black-rimmed glasses, showed a confident smile on his face.
Andy nodded in satisfaction, and had to say that Stephen's ability was beyond reproach.
"Using our proprietary database to study the market bottom in the 1930s, the analysis concluded that the stock market could fall further.
A warning has been issued to our clients that the hoped-for signs of a real bottom in the stock market have yet to be seen.
With hedge funds already accounting for a third or more of all trading volume and technical trading rules being modified to make it easier for them to bet on falling stocks, market moves have become more volatile and many false claims have been made. Signal.
A smaller percentage of stocks rose in recent weeks, suggesting investors aren't done selling yet, research shows. "
Andy leaned lazily on the boss chair, squinted his eyes slightly, touched his chin, and quietly listened to the market analysis made by the think tank through the comparison of big data and data models, combined with the not very detailed memory in his mind , Mutual verification, which also made him more and more confident in the think tank's big data analysis.
People without foresight must have near-term worries. As time goes by, Andy also chooses more and more financial memories in his mind as references, rather than as firm indicators. History may have amazing They are similar to each other, but the human factor can change at any time. Andy, who has reached the current level, has decided to try to enter the stage of "it is better to have no books than to believe in books", and he must also enter this stage , because his reliance will completely disappear as time goes by.
"Hehe, in the current 16-month bear market, the Dow Jones index has fallen by 47%. This is already one of the largest declines in the Dow's 113-year history, second only to the stock market crash from 1929 to 1932. Almost fell by 90%. However, I believe that no one thinks that the stock market will repeat a similar crash disaster, right?" Andy smiled, with a signature pen in his hand, talking in a teasing tone while looking around Conference room for a week.
After seeing everyone shaking their heads slightly, Andy continued: "I don't believe there will be a crash either. Once our new president's economic stimulus plan is implemented, I think the stock market will not be far behind to recover."
"The real key point is whether the Ministry of Finance's plan to strip toxic assets from the bank's balance sheet can be launched. If it can be launched smoothly, the U.S. stock market will usher in a strong rebound. If not..." Alvitley made Although he didn't finish his words, everyone understood what he meant.
All the people present are well-informed people, and they somehow understand that the White House and Wall Street are having conflicts, and it is close to tearing their faces apart. It is not because they still have to wait for the money from the US government to save their lives. Wall Street has long been naked. the sea.
If the White House wants to promulgate a banking solution plan, it also needs the support of Wall Street in order to sell the "toxic assets" that have crushed the financial system, thereby completing the rescue of the financial industry.
"Don't worry, the handling plan for the banking industry will be rolled out smoothly, but before that, let's take advantage of the downward trend to make some money by shorting. With March as the dividing point, all positions will be cleared at that time, and I will wait for my next arrangement!" An Dee made a decision.
"What about the gold..."
"As the news of the gloomy global economic outlook continues to come, the GDP in the fourth quarter of last year fell by 3.3%, the worst performance in 34 years. The newly released New York Fed manufacturing index in the United States fell to a record negative 34, which also showed that the United States The economic outlook is not optimistic. Affected by this, investors' risk aversion has heated up, and they have flocked to the gold market to seek value preservation and appreciation, pushing gold futures to rise sharply.
Coupled with the fact that the economic stimulus plan signed by the president failed to boost the US stock market, the price of gold futures for April delivery on the New York Mercantile Exchange rose by US$25 an ounce on the 17th to close at US$967, an increase of 2.7%. It hit a seven-month high of $975.
Driven by safe-haven buying, the price of gold futures on the New York Mercantile Exchange continued to rise today. The April contract rose by $10.7 an ounce to $978 at present, an increase of 1.1%.
According to the minutes of the January meeting we obtained from the US Federal Open Market Committee before the market opened this morning, the US economy continued to deteriorate in January, and it is expected that recovery will not appear until the second half of this year. For this reason, driven by continued safe-haven buying, gold futures prices will remain strong and approach the $1,000 mark despite weakness in other commodity markets. "
"Papa--"
Andy leaned on the boss chair, put his entire right arm on the conference table, tapped his fingers lightly on the conference table, making a crisp sound, the corners of his mouth raised slightly, and he muttered softly, "The $1,000 mark. . . ”
And everyone in the meeting room looked at the young big boss with admiration and admiration, especially Bardstone, who was personally invited by Andy at the beginning. He would have been filled with emotions at that reception, and at that time, he was just a young man with a net worth of hundreds of millions, and now he has become the youngest super rich man in the world, worth tens of billions. If he hadn't participated in it and witnessed it with his own eyes, He will also listen to the outside world as a legend that is not very real, but it may not be so shocking.
"Everyone, I have a premonition that the price of gold will rise all the way, will continue to refresh the historical record of gold prices, and will continue to hit the bottom line of people's gold prices, and there will be a good show that will carry the madness to the end!"
Andy suddenly stopped tapping his fingers on the table very rhythmically, raised his head slightly, with a mysterious smile on his face.