Chapter Seventy-Seven: Damn Finance
TΓΌrkiye ???? Bankas?? οΌ???? bankγ
After Peng San left, William glanced at the sign of the Turkish Bank, and a trace of excitement and anticipation flashed in his eyes.
Unlike other countries, the full name of Turkish Bank is Commercial Bank of Turkey.
It is the largest bank in Turkey and the first bank in Turkey after its establishment, ranking 96th among the 1,000 largest banks in the world. According to the Basel Bank for International Settlements, the bank has a Tier 1 capital of $6.8 billion.
To put it simply, it's very rich.
This is pure nonsense.
As Turkey's largest commercial bank, it has Turkish state-owned capital behind it, and the total assets of the bank are as high as hundreds of billions of dollars.
Rubbing his palms, as if looking at an iconic Turkish beauty, William strode into the door of the Turkish bank.
"Hello distinguished guests, welcome to your arrival, is there anything we can do for you?"
As described in "Million Pounds", people all over the world are open-minded and have a deep admiration for capital and wealth.
As soon as William arrived at the bank, the manager on duty trotted over with a disgustingly disgusting humble smile on his face.
All right.
In fact, you can't blame Halit Ergenc for not having dignity, William's outfit is all tailor-made for him by Armani Company, and he still has hundreds of thousands of luxury watches in his hand, and if any banker comes, I'm afraid he won't perform much better than Halit Ergenc.
After a hypocritical politeness, William was welcomed into the bank's highest-level VIP room, and when the milk tea came up, this guy went straight to the point and said his intention this time.
"Hello, I'm from the British Red Wolf Asset Management Company, and I have a big business, I don't know if you are interested. β
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Cleveland, Ohio.
Barber Ponte leaned against the fireplace, his dim eyes flashing with remembrance.
Maybe when people get old, they always think of the past.
Looking at the drizzle outside the window, his eyes were as miserable as autumn rain.
One hundred years ago, Cleveland was famous for its steel and automobile manufacturing, and light industries such as oil refining, petrochemicals, metal processing, textiles, and food were also quite large.
Even Rockefeller's Standard Oil Company was founded in Cleveland.
In the second half of the 19th century, several local tycoons in Cleveland united to form the Cleveland Group, allied with Rockefeller and Merlon, and used the rich coal and iron ore resources to start the iron and steel industry.
After World War I, the consortium became the eighth largest consortium in the United States, and after World War II, with further development, it rose to become the sixth largest consortium in the United States.
Controlled four of the top 10 steel companies in the United States: Republic Steel, Lex Youngston, Amco, and National Steel. and two of the largest rubber companies in the United States: Goodyear Tire & Rubber Company and Firestone Tire & Rubber Company.
The Ponte family is one of the majority shareholders of the Cleveland Group.
At that time, the Ponte family was extremely prosperous, with tens of thousands of acres of private estates and endless wealth to enjoy forever.
But all that changed when Barber Pont took over the family business.
Finance!
Damn finance.
Thinking of the decline of the family business in his hands, Barber Ponte couldn't help but curse in his heart.
Because, from Cleveland to the decline of the Ponte family's steel industry, it is inseparable from finance.
When it comes to the U.S. steel industry, even in the era when Merlon, Rockefeller and the Cleveland Group monopolized steel, they couldn't avoid one person.
Andrew Carnegie, known as the "Iron King".
At the age of twenty-nine, after the end of the Civil War, Carnegie had a unique vision to buy many of the latest steel production patents from Europe, and co-founded a steel mill that was then the largest steelmaking furnace in the United States.
Just ten years later, Carnegie and his brother founded the Carnegie Brothers Company, which produces one-seventh of the nation's steel annually.
As a result, Carnegie gradually became the leading steel giant in the United States, and those steel companies that were in crisis because of poor management were swallowed up by him.
At the time, however, the Cleveland Group was still the dominant player in the steel industry.
It was only in 1901 that all that began to change.
In that year, American Steel, now a powerful force in the world, was founded, and this company was formed by the merger of Carnegie Steel and Morgan's United Steel Corp.
It was also in that year that Cleveland's dominance in the U.S. steel industry was gradually eroded.
Finance.
It's a concept that Barber Pont hasn't been able to fully figure out yet.
Steel futures, steel options, forward contracts, credit defaults.
Even after 20 years of taking over the family business, Barber still can't figure out how these things have robbed the monopoly of the family business and made U.S. Steel the absolute hegemon.
Damn financiers.
A bunch of bastards who don't produce but only know how to rob.
Ay!
Thinking of the word finance, Barber sighed helplessly.
Over the years, in order to understand what finance is, he invested in Stephen Ann's fund, which at first made a lot of money for the Ponte family and reduced the operating risk a lot.
But over the years, that damn bastard has lost a lot of money.
If it weren't for the relationship between friends for more than ten years, he really wanted to blow up that guy's eggs.
Ding Ding Ding β
The phone rang suddenly, and Bobble had no choice but to put away the meaningless resentment and pick up the phone.
"Bobble, my friend, I'm sorry to call you back now. Before that, I was talking about a partnership with Vale in Brazil, just before San Francisco, you know, there was no phone signal there. β
"Oh, James. It doesn't matter. I think your butler has already told you everything. β
"Yes. But can you be sure it's all true? I think you know better than I do that those damn financiers are always full of lies, and financial giants like Shen Jiannan are complete bastards. β
"James. You may not know that my fund manager auctioned a lunch with Shen Jiannan for $3 million. β
"Walter?
"That's right...... Not long ago, Shen Jiannan donated a lunch at Linton Hills, and the winning bidder had three hours to have lunch with him. And this fund manager of mine is a very smart guy, and he sees an opportunity to make a fortune in it. β
"I understand what you mean, but I mean, how could such a financial giant leak something so important?"
"Oh. You may not know, but they drank a lot of liquor, stronger than whiskey, a full six bottles. And, I think he has a lot of point. β
β......β
β......β
"Bobble, I trust your judgment, but three million dollars, that's a lot of money, and I need a little time to prepare. β
"No problem. But James, I think you also understand the importance of this news, and you have to keep it a secret until we make money. β
"Of course. β
San Francisco.
James Martin hung up and pondered for a long time.
After a consultation with a consultant, he took Barber Ponte's word for credit.
However, $30 million is not a small amount, and this deal with Vale will require a lot of money, so where can I get it?
After thinking about it for a while, Martin picked up the phone and dialed his partner.
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