For Schwartz, oh, to be precise, for those speculators who intend to do pull-off transactions in Southeast Asian financial markets, their sniping operations on the currencies of Southeast Asian countries mainly grasp two basic points: First, the fixed exchange rate system between the local currency and the US dollar adopted by Southeast Asian countries in order to gain their financial center status. Second, Southeast Asian countries are far from being rich in foreign exchange reserves
The attack methods they adopted are actually very simple. Take the Thai baht as an example. If international hot money wants to snipe the Thai baht, then they will constantly borrow Thai baht, then sell Thai baht and exchange them for US dollars. This cycle will cause the people holding Thai baht in their hands to sell Thai baht and increase their holdings of the US dollar. As a result, the US dollar is booming and the Thai baht is cold.
In this situation, everyone doesn't want the Thai baht and goes to exchange the US dollar. Due to the fixed exchange rate between the Thai baht and the US dollar, the Thai government has to continue to subsidize the US dollar in their hands until they consume the US dollar in their hands.
In this process, the Thai government can take two measures to deal with it: one is to cancel the linked exchange rate, implement a floating exchange rate, and allow the Thai baht to depreciate. Only in this way can the US dollar in the hands of the government be enough to cope with market demand.
But in this way, the international credit of the Thai baht as a country's local currency will be over. By then, the stock market and the real estate market will fall to the end, and the degree of deterioration of the economic environment will be unimaginable.
Another measure is to increase the interest rate and increase the borrowing rate and short-term lending rate to an unbearable level, thereby increasing the cost of speculation.
But in this way, as interest rates increase, the market operating environment will deteriorate, which will cause a heavy blow to the stock market and even cause a stock market to collapse and economic fundamentals will decline.
The final result will also lead to capital flight, the country's foreign exchange reserves are exhausted, and the fixed exchange rate is difficult to maintain.
Therefore, when Thailand has limited foreign exchange reserves, no matter what measures the government takes, it is impossible to maintain a fixed exchange rate between the Thai baht and the US dollar.
Once the exchange rate is loosened and the exchange rate of the Thai baht against the US dollar falls, international hot money can reap rich returns from it.
From the entire attack process, if international hot money wants to complete such a large-scale currency attack campaign, an indispensable element is to provide them with channels for speculative leverage and short trading. This channel is only available for multinational banks like Changxin.
Of course, Changxin Bank may not be a necessary condition for the attack for huge international hot money, but as the new president of Goldman Sachs Japan, if Schwartz wants to get a piece of the pie, to be precise, to be precise, wants to play an important role in this attack, cooperation with Changxin is very necessary.
For Kita Kita, such cooperation is of course not harmful. Although the Southeast Asian financial crisis in 1997 almost urged the economy of the entire Southeast Asian region, destroying the achievements of economic construction of several countries for more than ten years, fundamentally speaking, this speculation is not illegal, it is just a financial act
As Soros said, this kind of behavior does not distinguish between good and evil, but is just a financial operation
It is also because of this that throughout the 1990s, Soros, as an unstable, first sniped the pound, triggered the Mexican financial crisis, and then turned the entire Southeast Asia upside down, so that the governments of countless countries hated him to the core and listed him as the most unpopular person in their country. But in the final analysis, no country wanted him
Therefore, Kita Kita of Miyashita is very interested in this cooperation. He is not only willing to support this cooperation within Changxin Bank, but also plans to take some of the money himself and participate in this attack.
As the saying goes, everything is a financial act. Since it is a financial act and does not involve a crime, who would mind getting more money for yourself?
In his hand, Akamoto Small Sales Credit Finance Co., Ltd. has now expanded to the automatic contracting machine in major cities across Japan, bringing a lot of profits to Miyashita Kita. These profits are reflected in the form of real money and silver, which means that he has enough cash in his hand.
In essence, Kita Kitani of Miyashita still has the wealth thinking of Chinese men, and coupled with the always-present sense of crisis in his heart, he has been transferring assets overseas for the past few years.
Whether in Switzerland, the United States, Canada, or Russia, he has opened an account in a certain bank or even a few banks. At the same time, he also purchased a certain amount of real estate. The purpose is to migrate to a safe place to spend the rest of his life when the situation is uncontrollable in the future.
On the premise that Kita Kitaki agreed to the cooperation, the meeting with Schwarts and others was very pleasant. The latter promised to submit qualification review materials and transaction deposits to Changxin Bank within three days. Of course, these qualification review materials were submitted in the name of Goldman Sachs partners, rather than in the name of Goldman Sachs Japan.
As a world-renowned investment bank, Goldman Sachs' international speculation is carried out in the name of partners, including future speculation on sovereign bonds of EU countries such as Greece. The purpose is to avoid moral accusations
To put it bluntly, even if a bitch wants to be a archway, he must also be established.
In fact, looking at this cooperation from a deeper perspective, we can draw a conclusion
That is, with the formal development of the cooperation between Changxin Bank and Enron Company, the middleman, Miyagi Kita has gained the attention of some of the top investment banks on Wall Street to a certain extent. Swarts seeks cooperation with Changxin Bank. The reason why he does not look for the president or the president is that he directly finds the head of the court, is that he recognizes his status in Changxin Bank.
Although Kitaki Miyashita did not win substantial benefits for Changxin in the cooperation between Changxin and Anron, it can even be said that Changxin actually suffered a loss in this cooperation, it alleviated Changxin's current difficulties to a certain extent and gave the bank a chance to take a breath.
In the field of financial investment, the opportunity to take a breath is often very valuable, because the ever-changing situation may turn an investment into danger during the period of time of taking a breath
But then again, even so, there is nothing to be proud of in the Miyagi Kitaki. After all, people in the financial investment field are often the most ruthless and coldest. He knows that he and Changxin can only be a mutually relied upon relationship.
The reason why Americans like Schwarts value him is ultimately because of his status in Changxin Bank. Once Changxin Bank goes bankrupt one day, everyone who follows him will leave him.
After leaving the Sukiyabashi club, it was already late at night and it was almost early in the morning. Miyashita Kita declined the kindness of Masaki Hachimaki's invitation to take a hot spring bath and took a bus to the villa on the banks of Sumida River.
Since last time I hosted Taku Yamazaki in this villa, the villa has been vacant again, and Miyashita Kita rarely comes here.
After taking a shower in the villa, wearing pajamas and walking into the study, sitting behind his desk, Miyashita Kita began to consider a problem, a major issue involving his future. This issue is the role he needs to play in Changxin Bank.
To be honest, since his rebirth, Kita Kitani has not paid much attention to the issue of Changxin Bank. In his eyes, this bank is just a tool for profit. As for where the bank will go in the future and whether it will go bankrupt, he doesn't mind at all.
Why?
The reason is very simple, because the bank shares inherited by Miyashita Kita from Akamoto are very limited. Although he is one of the three major supervisors of the bank, he does not have much say in his hands, let alone any decision-making power.
As a private financial institution, Changxin Bank's shareholder structure is very complex. In addition to the shares controlled by credit treasury, trust institutions and government agencies, many shareholders cannot figure out who it is even if Kita Kitani of Miyagi is.
Of course, this is not the most important thing. What is most important is that although a long-term credit bank is a private financial institution, its main business needs to be handled in accordance with the will of the Japanese government. Fundamentally, it is a policy bank that provides long-term equipment investment and long-term working capital for industrial sectors and large enterprises.
Therefore, it is regulated and controlled by the Japanese government than ordinary banks. If it were not for the huge real estate bubble in Japan in the 1980s and 1990s, the entire Japan relaxed its vigilance, and Changyin's business would definitely not be able to reach this point today.
This is the fundamental reason why Kita Kitani doesn't like Nagashita. There are too many grandparents on his head and are restrained in all aspects. As the president of a bank, he is actually no different from a civil servant.
But now I'm quiet, from a more long-term perspective, well, or, from another perspective, as one of the only three long-term credit banks in Japan, Changxin's influence in Japan is definitely beyond imagination
Changxin Bank's current operating conditions are not a big secret. Both the Tripitaka Province and the Financial Bureau are clear about this.
But why did so many banks go bankrupt? Changxin still dare to fight against the Tripitaka Province over the issue of public funds?
The reason is very simple, it is because it is too large in scale and has too much influence.
According to the data obtained by Changxin himself, 50% of the bank's loans are concentrated in the four basic industrial sectors of steel, coal, electricity and shipping, among which large enterprises account for 60% of the loans.
In Japan, one bank in Changxin accounts for 14% of the total loan amount to these four basic industrial sectors. Once Changyin goes bankrupt, Japan's GDP will drop by one percentage point, directly causing 700,000 people to lose their jobs, and the indirect consequences are difficult to estimate.
The attack methods they adopted are actually very simple. Take the Thai baht as an example. If international hot money wants to snipe the Thai baht, then they will constantly borrow Thai baht, then sell Thai baht and exchange them for US dollars. This cycle will cause the people holding Thai baht in their hands to sell Thai baht and increase their holdings of the US dollar. As a result, the US dollar is booming and the Thai baht is cold.
In this situation, everyone doesn't want the Thai baht and goes to exchange the US dollar. Due to the fixed exchange rate between the Thai baht and the US dollar, the Thai government has to continue to subsidize the US dollar in their hands until they consume the US dollar in their hands.
In this process, the Thai government can take two measures to deal with it: one is to cancel the linked exchange rate, implement a floating exchange rate, and allow the Thai baht to depreciate. Only in this way can the US dollar in the hands of the government be enough to cope with market demand.
But in this way, the international credit of the Thai baht as a country's local currency will be over. By then, the stock market and the real estate market will fall to the end, and the degree of deterioration of the economic environment will be unimaginable.
Another measure is to increase the interest rate and increase the borrowing rate and short-term lending rate to an unbearable level, thereby increasing the cost of speculation.
But in this way, as interest rates increase, the market operating environment will deteriorate, which will cause a heavy blow to the stock market and even cause a stock market to collapse and economic fundamentals will decline.
The final result will also lead to capital flight, the country's foreign exchange reserves are exhausted, and the fixed exchange rate is difficult to maintain.
Therefore, when Thailand has limited foreign exchange reserves, no matter what measures the government takes, it is impossible to maintain a fixed exchange rate between the Thai baht and the US dollar.
Once the exchange rate is loosened and the exchange rate of the Thai baht against the US dollar falls, international hot money can reap rich returns from it.
From the entire attack process, if international hot money wants to complete such a large-scale currency attack campaign, an indispensable element is to provide them with channels for speculative leverage and short trading. This channel is only available for multinational banks like Changxin.
Of course, Changxin Bank may not be a necessary condition for the attack for huge international hot money, but as the new president of Goldman Sachs Japan, if Schwartz wants to get a piece of the pie, to be precise, to be precise, wants to play an important role in this attack, cooperation with Changxin is very necessary.
For Kita Kita, such cooperation is of course not harmful. Although the Southeast Asian financial crisis in 1997 almost urged the economy of the entire Southeast Asian region, destroying the achievements of economic construction of several countries for more than ten years, fundamentally speaking, this speculation is not illegal, it is just a financial act
As Soros said, this kind of behavior does not distinguish between good and evil, but is just a financial operation
It is also because of this that throughout the 1990s, Soros, as an unstable, first sniped the pound, triggered the Mexican financial crisis, and then turned the entire Southeast Asia upside down, so that the governments of countless countries hated him to the core and listed him as the most unpopular person in their country. But in the final analysis, no country wanted him
Therefore, Kita Kita of Miyashita is very interested in this cooperation. He is not only willing to support this cooperation within Changxin Bank, but also plans to take some of the money himself and participate in this attack.
As the saying goes, everything is a financial act. Since it is a financial act and does not involve a crime, who would mind getting more money for yourself?
In his hand, Akamoto Small Sales Credit Finance Co., Ltd. has now expanded to the automatic contracting machine in major cities across Japan, bringing a lot of profits to Miyashita Kita. These profits are reflected in the form of real money and silver, which means that he has enough cash in his hand.
In essence, Kita Kitani of Miyashita still has the wealth thinking of Chinese men, and coupled with the always-present sense of crisis in his heart, he has been transferring assets overseas for the past few years.
Whether in Switzerland, the United States, Canada, or Russia, he has opened an account in a certain bank or even a few banks. At the same time, he also purchased a certain amount of real estate. The purpose is to migrate to a safe place to spend the rest of his life when the situation is uncontrollable in the future.
On the premise that Kita Kitaki agreed to the cooperation, the meeting with Schwarts and others was very pleasant. The latter promised to submit qualification review materials and transaction deposits to Changxin Bank within three days. Of course, these qualification review materials were submitted in the name of Goldman Sachs partners, rather than in the name of Goldman Sachs Japan.
As a world-renowned investment bank, Goldman Sachs' international speculation is carried out in the name of partners, including future speculation on sovereign bonds of EU countries such as Greece. The purpose is to avoid moral accusations
To put it bluntly, even if a bitch wants to be a archway, he must also be established.
In fact, looking at this cooperation from a deeper perspective, we can draw a conclusion
That is, with the formal development of the cooperation between Changxin Bank and Enron Company, the middleman, Miyagi Kita has gained the attention of some of the top investment banks on Wall Street to a certain extent. Swarts seeks cooperation with Changxin Bank. The reason why he does not look for the president or the president is that he directly finds the head of the court, is that he recognizes his status in Changxin Bank.
Although Kitaki Miyashita did not win substantial benefits for Changxin in the cooperation between Changxin and Anron, it can even be said that Changxin actually suffered a loss in this cooperation, it alleviated Changxin's current difficulties to a certain extent and gave the bank a chance to take a breath.
In the field of financial investment, the opportunity to take a breath is often very valuable, because the ever-changing situation may turn an investment into danger during the period of time of taking a breath
But then again, even so, there is nothing to be proud of in the Miyagi Kitaki. After all, people in the financial investment field are often the most ruthless and coldest. He knows that he and Changxin can only be a mutually relied upon relationship.
The reason why Americans like Schwarts value him is ultimately because of his status in Changxin Bank. Once Changxin Bank goes bankrupt one day, everyone who follows him will leave him.
After leaving the Sukiyabashi club, it was already late at night and it was almost early in the morning. Miyashita Kita declined the kindness of Masaki Hachimaki's invitation to take a hot spring bath and took a bus to the villa on the banks of Sumida River.
Since last time I hosted Taku Yamazaki in this villa, the villa has been vacant again, and Miyashita Kita rarely comes here.
After taking a shower in the villa, wearing pajamas and walking into the study, sitting behind his desk, Miyashita Kita began to consider a problem, a major issue involving his future. This issue is the role he needs to play in Changxin Bank.
To be honest, since his rebirth, Kita Kitani has not paid much attention to the issue of Changxin Bank. In his eyes, this bank is just a tool for profit. As for where the bank will go in the future and whether it will go bankrupt, he doesn't mind at all.
Why?
The reason is very simple, because the bank shares inherited by Miyashita Kita from Akamoto are very limited. Although he is one of the three major supervisors of the bank, he does not have much say in his hands, let alone any decision-making power.
As a private financial institution, Changxin Bank's shareholder structure is very complex. In addition to the shares controlled by credit treasury, trust institutions and government agencies, many shareholders cannot figure out who it is even if Kita Kitani of Miyagi is.
Of course, this is not the most important thing. What is most important is that although a long-term credit bank is a private financial institution, its main business needs to be handled in accordance with the will of the Japanese government. Fundamentally, it is a policy bank that provides long-term equipment investment and long-term working capital for industrial sectors and large enterprises.
Therefore, it is regulated and controlled by the Japanese government than ordinary banks. If it were not for the huge real estate bubble in Japan in the 1980s and 1990s, the entire Japan relaxed its vigilance, and Changyin's business would definitely not be able to reach this point today.
This is the fundamental reason why Kita Kitani doesn't like Nagashita. There are too many grandparents on his head and are restrained in all aspects. As the president of a bank, he is actually no different from a civil servant.
But now I'm quiet, from a more long-term perspective, well, or, from another perspective, as one of the only three long-term credit banks in Japan, Changxin's influence in Japan is definitely beyond imagination
Changxin Bank's current operating conditions are not a big secret. Both the Tripitaka Province and the Financial Bureau are clear about this.
But why did so many banks go bankrupt? Changxin still dare to fight against the Tripitaka Province over the issue of public funds?
The reason is very simple, it is because it is too large in scale and has too much influence.
According to the data obtained by Changxin himself, 50% of the bank's loans are concentrated in the four basic industrial sectors of steel, coal, electricity and shipping, among which large enterprises account for 60% of the loans.
In Japan, one bank in Changxin accounts for 14% of the total loan amount to these four basic industrial sectors. Once Changyin goes bankrupt, Japan's GDP will drop by one percentage point, directly causing 700,000 people to lose their jobs, and the indirect consequences are difficult to estimate.
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