Chapter 125: The King's Feelings
11 January 1993.
The capital of the United States, Washington.
U.S. Federal Reserve Chairman Alan Greenspan spoke at a press conference: The U.S. Federal Reserve announced on the 21st that it would raise the target range for the federal funds rate by 50 basis points to 3.25% to 3.5%.
Since the middle of last year, the U.S. economy has continued to expand moderately, the labor market has strengthened, unemployment has fallen, household consumer spending has grown moderately, and inflation has risen since the beginning of the year and is above the 2% long-term target.
In light of this, the Federal Reserve Bank decided to raise the target range for the federal funds rate by 50 basis points to 3.25% and expected three to four rate hikes in 1993, maintaining accommodative monetary policy to further strengthen the labor market and achieve the inflation target.
It is worth pointing out that the interest rate decision was unanimously adopted.
BNP Paribas, JPMorgan Chase (. Morgan), Morgan Stanley and others believe that rising expectations for economic growth and inflation in the labor sector and economic data, combined with a tightening labor market, have given Fed officials the confidence to raise interest rates for the first time this year.
Some analysts expect that the Fed's interest rate hike will start a cycle of interest rate hikes since the oil crisis, which means that the United States has fully recovered from the shadow of the Cold War.
The Federal Reserve will raise interest rates by 50 basis points and expects to raise interest rates four times this year, according to the U.S. economic team of France's Jiuding Bank, which shows that the Clinton administration has full support from Congress, the Federal Reserve Bank and Wall Street, laying the foundation for the New Deal and economic growth.
The first paragraph of the policy statement is likely to contain an upward revision to the economic assessment, noting that risks appear to be "balanced".
The banker also expects no change in the median dot plot, as it is too early to make significant changes to the economic forecast summary. Most people at the FOMC may be inclined to stay on the sidelines.
On the other hand, the most interesting issue at Fed Chairman Alan Greenspan's press conference was how the Fed will respond to changes in the fiscal outlook.
Bank of America (BOA) economist Candace Browning said there is room for the market to rise in expectations for the Fed's rate hikes in the coming years. The inflation "party" has begun, with the core PCE price index expected to rise to 1.9% by the end of the year, which will be close to the Fed's 2% inflation target, if not hedged.
Michelle Meyer, an economist at Bank of America, expects that the Federal Reserve's interest rate hike will stimulate the strengthening of the dollar, and the return of other capital from various countries to the United States will stimulate the dollar to end its low shock.
It is worth noting that the US non-farm payrolls report for November, released last Friday, showed that US wages are growing rapidly, making it very difficult for the Fed to raise interest rates further, analysts noted. Investors are expected to pay attention to Fed officials' concerns about low inflation and the possibility of a rate hike in the second quarter.
Robert John, chief strategy executive of British First International Capital and spokesman for international monetary and financial expert Shen Jiannan, said that the Fed's interest rate hike has long been expected, and he is optimistic about the future economic improvement of the United States.
The Fed's interest rate hike will further confirm that the dollar has ended its downward cycle.
Not so long ago, First International Capital injected a billion dollars into the United States, and will invest more in the United States.
It's like a super nuclear bomb that smashed into the already unquiet sea.
The currencies of many countries, such as the Swedish krona, the Norwegian krone, the Italian lira, the French franc, and the Japanese yen, have fallen to varying degrees due to the impact of the Federal Reserve's interest rate hike.
1.14th.
The Riksbank announced that it would change its fixed exchange rate to a free-floating exchange rate.
1.15 days.
Norges Bank said that the fixed exchange rate is not in line with Norway's current economic development, and in order to adapt to more efficient monetary policy, it will change to a free floating exchange rate.
London, United Kingdom.
Robert John finished his press conference and returned to his office.
The little girlfriend Badenberg was watching a movie, and the old turnip head walked up to the computer and hooked Ruth's hand excitedly.
Ruth Bedenberg understood, twisted her mature body, and asked with a smile, "My dear, what is so happy?" ”
The old radish head was full of crazy excitement and excitement, pushed the little girlfriend down on the desk and said: "Baby, come, let's press this button together, as long as we press this button, the money in Turkey will be turned into waste paper from now on, and they will have to be taken off all their clothes by us, even their underwear." ”
It's crazy.
Ruth Badenberg couldn't help but get excited, of course she knew what the old turnip head had done recently, but as long as she pressed this button, could she rob a country?
God, that is the Ottoman Empire, the former hegemon of the Mediterranean.
The old turnip head didn't care so much, and he couldn't wait to grab Ruth Badenberg's hand and press the enter key together.
Syllable!
In an instant, an incomprehensible array of codes and numbers flashed across the computer screen.
Thousands of sets of programmed programs are transmitted to countless computers through the central computer, and individual traders report to the international spot foreign exchange market.
£T. Sell 6666666666 price 666666
£T. Sell 6666666666 price 677777
£T. Sell 66666666666 price 678866
......
Hanging on the huge display screen in the office, dense numbers are raging like locusts, and under the pressure of these dense selling orders, the Turkish lira broke through the exchange rate of 700,000 in an instant.
£1 = £700,000.
And at this time, the United States, Wall Street.
In the stacked office buildings, large and small offices, the phones are constantly ringing.
Major investment firms, when the Fed announced its market operations, had already identified business opportunities with their rich experience.
USD/£T, buy 100.
USD/GBP, BUY...... 100000。
Buy......
It's all buying.
With a large amount of money bought in different currencies, the dollar went crazy like a bull, rushing from the 73 average technical index to the 75 exchange index.
And those currencies that were bought but were sold were sold off on a massive scale.
Among them, the Turkish lira is the most tragic.
In what was a premeditated blow, the world's major investment banks, trading institutions, and mining companies all of a sudden sold the Turkish lira in the market. Moreover, even merchant ships bound for Istanbul, Turkey, as well as merchants and businesses with whom Turkey traded, refused to accept Turkish lira when conducting trade.
Everyone knows that the Turkish lira is going to be finished.
The exchange ratio of 700,000 is simply a shame in the history of human currency.
......
A woman with both beauty and connotation, a woman who is both traditional and fashionable, a mixed-race woman with both Eastern and Western ancestry.
Would you admire?
Will you be obsessed?
Will you fall for it?
If the city is compared to women, then Istanbul, Turkey, is such a superb woman.
Historically the Eastern Roman Empire and the Ottoman Empire, both of which spanned Europe, Asia and Africa, Turkey has become a pocket-sized version.
From the Eastern Roman Empire to the Ottoman Empire, Istanbul has been the capital of the empire. The ancient capital of nearly 1,000 years has experienced the continuous baptism of the two religions, leaving many relics of ancient civilizations.
Europe, Asia and Africa intersect, where Eastern and Western civilizations collide and merge into one, becoming a unique hybrid.
The water is deep blue, there are no big waves, but it is always choppy. At dusk, standing on the bridge and looking out across the bank, the skyline of the old city is highlighted by domes and minarets, seagulls fly freely, ships pass slowly, clouds rush in the sky, and the afterglow of the sun sets in the west is reflected on the clouds, reddened, sprinkled in the sea, shining.
Kemal, the founding father of Turkey, once said, "Whenever you stand here and look out over Istanbul, you feel like a king when cars drive by you." ”
Topkapi Royal Villas in Fatih District.
Shen Jiannan tasted what Kemal said.
At this moment, lying in this thousand-year-old ancient capital, he deeply experienced the joy and happiness of the king.
A pair of thirty-six large headlights, glowing with crystal milky white swept in front of the eyes, while two pairs of plum blossoms with pointed lotus leaves are gradually blooming, delicate and gorgeous.
The harmony between Chinese and Western architecture in the whole urban area, where the Chinese basic charm and Western architectural symbols and details complement each other, is not only full of aesthetic pleasure, but more importantly, makes living comfortable and close to nature.
Romantic and solemn temperament, high foyer and grand door, round arched windows and corner stonework, full of grace and luxury. Fresh and unconventional, the color stucco walls combined with light red roof tiles, continuous arches and cloisters, and the living room with high windows make people feel refreshed.
Elegant and exquisite, there is no lack of comfort, the porch and foyer stretch to the north and south, the hall, bedroom, etc. are set up with low windows and hexagonal bay windows, the restaurant is connected to the north and south, and the indoor and outdoor scenes are blended.
It can be seen that the mother who was given the name Shen Rou showed the greatest maternal love, and gave everything she possessed to her embarrassed but greedy daughter Shen Nana.
The two sisters are physically and mentally connected, humble and polite, and were given the name Shen He Nana to taste it and then give it to her sister Shen Qiqi.
The three of them worked together seamlessly, and although everyone was salivating, no one was swallowing it alone.
Shen Jiannan felt the virtues of Kong Rong Rang Pear, and at the same time appreciated the great state of mind that the Turkish king once had.
In this foreign country, who would have thought that the same motherly love and sisterly love are also deep.
The villa has three floors, built against the hill, and each floor has its own merits.
Entering the gate, a pebblestone path is lined with bonsai of flowers and trees of different shapes, which is pleasing to the eye and at the same time uneasipating.
The exquisite villas with a rustic style are scattered among the lush trees, and the whispering of them is as if they are far away from all the hustle and bustle of the city, and the feeling of tranquility and seclusion is fascinating.
Classical and cheerful, the spire-shaped sloping top, the vines clinging to it are in contrast to each other, fresh and unconventional, and make people's hearts ripple.
Squeak!
Suddenly, the door was pushed open from the outside.
A pair of slender legs, stepping on high heels, landed on the cashmere carpet in the house.
It was Claudia Catinna, who had returned from Italy, and her best friend Sophie Calomé, who looked at the four people in the room and snorted dissatisfied.
The mother and daughter of the Shen family were so frightened that they didn't dare to come out, and lowered their heads and covered their heads under the blankets.
Poor Shen Qiqi couldn't get out for a while, so she could only burrow her head into Shen Jiannan's chest, her face flushed, and she felt like a thief who was caught stealing food.
The scene was awkward for a while.
Although Claudia Katina has known a lot of things since she was pregnant, this is the first time she has been caught like this.
Sophie Calomme didn't think it was a big deal, with a wicked smile on her face, she ripped off the blanket on Shen Jiannan that wrapped herself and Shen Qiqi together, and said playfully: "My dear." You're such a great scumbag, I've never seen a guy as bastard as you. ”
Shen Jiannan was also embarrassed.
Claudia Catina has family support behind her, as well as political party support, and Sophie Calomé is the one the Carromme family has decided to marry her.
Now, it's a shame to be caught ready-made, and to say it.
But at this time, what can be done.
Patting the mother and daughter who were trembling with fright, Shen Jiannan said to Sophie Karomme, "Okay. I'll admit, I'm a jerk. But can you, let me put my clothes on first?"
Sophie Caromme pulled her hair and fished it out of Shen Qiqi: "I mean, do you want this lovely sister to hate you? If you can't, then I'll come." ”
“......”
“......”
Half an hour later, Shen Jiannan brazenly dressed in a neat suit to the living room.
Sophie Calomé sat next to Claudia Catina in the back, with her eyes buttoned up like silk.
"That guy Lamont has already negotiated with the tobacco company today, but he said that the government has not agreed to sell the tobacco company yet, and he can't call the shots. ”
"What do you say at the refinery. ”
"The same reply, you know, those guys, they would love to sell the refinery, but right now, the military is cracking down on the people in the streets, and they don't dare to make the decisions. ”
With the lira falling below the 700,000 mark, inflation in Turkey has reached an incredible level.
Many people took to the streets and began to protest against the government, so the Turkish military assisted the riot police and began a tug-of-war with the people.
Petrol bombs, incendiary bombs, and rubber guns rang out in the streets, and tens of millions of people held up protest signs in various government departments, scolding the government for its incompetence and corruption.
But it was chili sauce, batons and even loaded bullets.
And at this time, the Turkish presidential palace.
"Right now, our only option is to ask other countries for borrowing to stabilize the exchange rate and fight inflation, but I contacted all countries except Turkmenistan, and those damn bastards are ready to stand idly by," said the head of the central bank, Engel Altan al-Kadi, with a pale face. ”
In the past, the Ottoman Empire did not have good relations with neighboring countries, whether it was Italy, Greece, Spain or Egypt, they were all subject to aggression and strategy.
Coupled with the conflict of beliefs, therefore, Turkey, which had the dream of hegemony in the Mediterranean and the Great Turkic Empire, had reached the point of exhaustion at this time.
With the exception of Turkmenistan, which has provided $100 million, no country has lent them a dime.
This is a very serious problem, because everyone here knows in their hearts that faith can sell people, but it cannot defeat hunger.
If there is any further development, it will shake the government's notice.
Leminda Edal Erjiluan discussed with his staff for a long time and asked, "Then what better way do we have now?"
Engel Altan Kadi bowed his head and said: "There is no better way, only the only way, to apply for loan assistance from the IMF." ”
Syllable!
Mir Zaolu slapped the table, glared angrily, "This is absolutely not going to work, those damn bastards are waiting for us to call for help." ”
No one spoke, because everyone knew that Mir Zaoglu was right.
The IMF is not a public good.
According to the loan agreement, if you accept IMF help, you must agree to allow IMF officials at all levels to come to Turkey to carry out reforms.
And with this reform measure, anything can appear.
For example, reducing military spending.
Turkey's annual spending on army building accounts for more than 30 percent of its fiscal revenue, and the IMF has reason to believe that such a large amount of spending will affect Turkey's economic development.
And at this time, Washington.
At the IMF, a vote on reform that has never been seen in history is underway.
First International Capital will invest $1 billion in the IMF, which will account for 2.8 percent of the allocation.
This is the only non-sovereign country to apply for membership since the establishment of the IMF.
"I am in favor of First International Capital joining, the European monetary system is now in a huge crisis, with First International Capital a billion dollars in shares, it can be very good to help more countries recover their economies. ”
After the vote was initiated, Italian director Philard Gossmann raised his hand in approval.
Then, the Swedish director objected: "I am against it. The establishment of the IMF is a mutual aid initiated by the sovereign credibility of the country, and First International Capital is only an investment institution and is not qualified to join. ”
Robin Leigh-Pemberton, former governor of the Bank of England and current governor of the IMF, raised his hand and said: "I support the accession of First International Capital, which was established to monitor currency exchange rates and trade in various countries, and to provide technical and financial assistance to ensure the proper functioning of the global financial system." And now, Europe is going through an unprecedented currency crisis, and our purpose is to help them avoid another war. It is for this reason that the First International Capital has joined the IMF to contribute to the peaceful development of mankind, and what reason do we have to reject such goodwill?"
Can you order Bilian?
That bastard has made you Britain what it is, and you still support him.
A group of people looked at Robin Leigh-Pemberton with a look of contempt in their eyes, and everyone knew that it was precisely because of the sniping of First International Capital that the pound had lost a lot of money to the Bank of England.
And the governor of the central bank at that time was the current governor.
was beaten up, and he turned around to support others, but he didn't want Bilian at all.
Robin Leigh-Pemberton, a gentlemanly gesture that was despised by all, voted in favor.
No way.
The Prince of Wales and the Royal Family, the Seven Eyes Alliance Investment Company, which was recently registered in the Cayman Islands, has a 3.8 percent stake.
As Britain voted in favor, Sergei Melald, the director of Da Mao, also raised his hand: "Da Mao supports the accession of First International Capital, which is for the help of peace for all mankind." ”
What the hell is this..... It's like a ladder to the sky.
No, it's just blowing planes.
Who doesn't know that Yulia, the only daughter of the big Mao family Sidorov, has a leg with Shen Jiannan of First International Capital, and the two show their affection in public all day long.
If you want to come in and reap the benefits, you can say it bluntly, and it actually involves the peace of all mankind.
Why, don't you even want your face?
But who can do what?
"Bulgaria is in favor!"
"Ukraine is in favor!"
"Georgia is in favor!"
"Belarus is in favor!"
"Finland is in favor!"
“......”
With Da Mao's call, the big brother followed closely and voted in favor.
Suddenly, many people looked at the American director and president Michel Condessous.
Everyone knows that now that Da Mao and Britain voted in favor, whether the First International Capital can join depends on the attitude of these two countries.
As for the rabbit, hehe-
You can think of what you will vote for with your ass.
Really.
"Huaxia is in favor. ”
A national character face was voted in favor of the Huaxia director.
No one was surprised and looked at the Indian councillor beside him.
India's equity is heavy, and opposition is effective.
"India is against it!"