Chapter 1027：

undertake the above. . .

Banks are bold, insurance companies have seen profits, and ZF followed the zheng policy with their eyes closed. With the joint efforts of both parties, subprime loans have grown explosively.

I have said many times in the previous article. There are no real fools in the capital world. Subprime lending has grown rapidly, and even insurance companies have been a little frightened. In an uncontrollable situation, housing prices are not falling, or even rising steadily. What if the house price drops? This huge amount of insurance policy is enough to pay any insurance company.

What should I do if there is a risk? Naturally, it is necessary to pass on the risk, just as the bank passed the risk to the insurance company, so the insurance company decided to find a next home for this kind of subprime mortgage insurance, um, that is, continue to find the receiver, then who wants to take this Seed disk?

Of course it’s venture capital companies. What they do is venture capital. As long as they make money, as long as the profit prospects are large enough, they dare to invest even if the risk is great. Anyway, venture capital companies don’t have much money on their own. Sometimes they risk. They are reluctant to invest when they are small, because high risks are accompanied by high returns.

However, these venture capital companies usually invest in start-up companies. Their investment philosophy is very clear. They invest in ten start-up companies, even if only one survives. For example, Sun Zhengyi's investment in Ari can top the accumulated investment of his half life. .

But more than ten years ago, the dot-com bubble burst. Since then, entrepreneurs seem to have not been born yet, so few venture capital firms can wait, right? So they look for new investment projects aimlessly, as long as they can make money, everything is easy to say.

It happened that the people from these insurance companies found a venture capital company that couldn't bear loneliness and had money to spend. The two parties hit it off. The insurance company packaged these subprime mortgage insurance and sold them directly to the venture capital company. The most famous of these takers It's Lehman. If you have a conspiracy theory, you can see who is standing behind Lehman, who is standing behind the American insurance company, and finally who is standing behind the bank. It's clear at a glance.

Of course, we still have to return to the perspective of the ordinary market. The reason why venture capital companies are willing to buy these subprime mortgage insurance is because they judge that house prices will not fall for a while, so the insurance premiums paid by banks to insurance companies will be directly paid to themselves in the future. , The business of picking up money for nothing, the venture capital companies that are addicted to crazy profits turn a blind eye to risks.

No, no, no, venture capital companies are very confident in themselves. They think their analysts will analyze in advance when house prices will fall, and then cash out.

However, Lehman, who had made quick money for a while, also encountered the same problem as the insurance company at the beginning. The money came too fast, and they felt uneasy, but they were definitely not willing to change hands again.

More importantly, they felt that these sub-prime mortgage contracts had greater use value, and it was a waste to put them in their hands, so Lehman packaged these sub-prime mortgage insurance as bonds for sale to Americans, which is what they launched. The so-called wealth management products transfer part of the risk, and at the same time make two backs of money. Lehman’s people have begun to despise the world, but they are nothing more than a chess piece on the board.

As for whom to sell those wealth management products? Naturally, it is the middle class in the United States who have spare money but don't know what it is. These middle class 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 after buying 10,000 U.S. dollars after one year of maturity, which is many times higher than the interest on low-interest deposits in banks. Coupled with being born in a capitalist society, they are deeply baptized. You don’t care about your finances and don’t care about you. No one thinks about the money, so they bought it naturally, almost without 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 doesn't it rise? Because all the hot money in the US market has flowed to the opposite side of the Pacific and Atlantic!

In 2005, country Z liberalized exchange rate control. The global capital tycoons decided to rush into country Z, pushing up country Z’s stock market and property market, and then fleeing from a high position, allowing the people of country Z to take over, and by the way, they could create a game for the rising lion In the financial crisis, the plan was pretty good, and the action went smoothly.

Since 2006, the foreign exchange reserves of country Z have completed the surpassing of the small RB, and then embarked on the highway and ran all the way.

Of course, the main foreign exchange reserves of country Z are U.S. dollars. If foreign capital wants to enter country Z, Congress Z first converts the incoming U.S. dollars into RMB, and then keeps U.S. dollars as foreign exchange reserves. The increase in foreign exchange reserves represents an increase in foreign investment.

If the foreign exchange reserves grow slowly, it means that everything is normal and the trade surplus is formed.

If country Z earns dollars from exporting goods, it will never increase suddenly, but the sudden increase in foreign exchange reserves in a short period of time means that these dollars are not earned, but pure international capital rushed in.

The country Z’s foreign exchange reserves have grown wildly, indicating that the world’s hot money is flowing to Z. Then the stock market skyrocketed, investors made money, and their home country’s stock market also rose, and then more and more capital followed the trend in circulation. , So there is less and less money in the U.S. domestic market, resulting in less and less money available for lending by U.S. banks. What should I do? It's very simple, don't lend money without money.

All this is a chain reaction. After the common people know that banks are restricting loans, the number of people buying houses will naturally decrease, because most people can't afford to buy a house in full, and no one will buy a house, so house prices will naturally stop rising.

At this time, the consequences of the previous crazy lending by the bank slowly emerged. Those who had not had much ability to repay were gradually unable to support the high repayment pressure. They simply chose to repay the debt, or simply let the bank take the house away, and a large number of houses appeared. When entering the auction market, supply exceeded demand, and housing prices began to plummet. The money recovered by reluctant sales was far from the loans originally released.

Of course, banks won’t just watch as they lose money and go bankrupt. The backhands they left behind have played a role. The bank finds an insurance company to demand compensation, and the insurance company finds a venture capital company, such as Lehman, which was originally worth $10,000. For insurance, the premium was only charged for one dollar, but now it has to pay 10,000 dollars. Lehman Brothers cannot afford to pay, and collapses suddenly.

The venture capital company headed by Lehman went bankrupt, and the insurance company couldn’t afford it. Then it went bankrupt, and the insurance company went bankrupt. The bank could only smash its teeth and swallow it, and the reserves were so small that it could make up for the losses. ? So the bank also went bankrupt.

As a result, a greater chain reaction appeared. Due to the large number of failures of investment companies, banks, and insurance companies such as Lehman, a large number of unemployed people began to appear in the United States. It is important to know that at least one-third or even half of the employed people in the United States are engaged in financial related activities. Industry.

Of course, if it’s just a group of unemployed people, it’s not a big deal. The big deal is to increase the number of homeless people by a few points. In the future, the United States will have to open more welfare relief points. This is all trivial.

The key is that those who bought Lehman's wealth management products from venture capital companies. The middle-class people who bought Lehman's wealth management products with some spare money were crazy and wanted to make money. As a result, the venture capital company they invested in went bankrupt and their own money was used to fetch water. Drifted.

We must know that Americans have almost no habit of saving. Most people will overdraw their credit cards. The real purchasing power depends on the middle class who can spend their spare money to buy financial products.

But who would have thought that playing such a big card would directly smash the backbone of the United States, so the subprime mortgage crisis broke out in the United States completely, and the main group of American consumers like the middle class directly became the proletariat In addition, ordinary people who have no money in the first place have no money to consume. The products of the entity company are slow to sell and cannot be sold. The capitalists are also running away. They prefer to transfer the money out rather than pay their employees. Think GM and Wal-Mart and other large employees began to lay off employees and cut salaries, the basic market of the physical industry was completely shattered.

Then? Then there is no more The US dollar is worthless. The real power holders in the United States are scared and feel that they are playing off. If you don’t save it, I’m afraid I can’t live anymore. You have to know that they have a large part of their power. It comes from the U.S. dollar. If the U.S. dollar is 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 be the same?

As a result, these behind-the-scenes players began to put pressure on the US ZF and quickly took out the Federal Reserve to save the market, and also printed money for Laozi and passed the debt to other countries. In short, it was a crazy operation and barely stabilized the dominance of the dollar. During this period, there will naturally be resistance to dissatisfaction. For example, a certain country in the Middle East, why should we pay for your mistakes?

The players behind the scenes laughed. They were worried that they didn’t have a target to kill a chicken and a monkey. What should I do if one popped out so quickly? Hey, the best way to divert domestic conflicts is to fight wars. By the way, huge oil reserves can be obtained. This is much more cost-effective to pit the poor at home.

All in all, in short, whether it is the subprime mortgage crisis or currency devaluation is not for no reason, there are traces to follow. As long as you study carefully, the forecast format is not difficult, but the people who can judge absolutely do not include Joe. Lewis, this guy played foreign exchange all his life, and the most powerful one was just drinking a sip of soup after the predators. Although this sip of soup was enough to hold him to death, there was nothing real in his stomach after all. White Fang's flicker Yang Cheng entered the game, it was too whimsical.

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