One after another, phone calls came into Kishimoto's office. When he answered the phone, he heard that it was all about the collapse of the South Korean stock market.

Takayuki Minamino and Kazuya Takahashi saw that he was so busy, so they didn't stay and continued to bother more, and each went back to his department to continue to do his own thing.

As soon as lunch time came, Masayoshi Kishimoto went to Makoto Natsui. In the past, he was in Ueno, Taito-ku, but now it is Roppongi, Minato-ku. The house has changed, but the people are still the same people.

As soon as Masayoshi Kishimoto entered the door, before he could change his shoes at the entrance, Makoto Natsui hurriedly took small steps in front of him and said, "The Korean stock market has plummeted. TV Tokyo's midday economic news reported that 18 Korean banks have officially declared bankruptcy. ”

While changing his slippers without hurry, Masayoshi Kishimoto blurted out: "Fast enough! Eighteen Korean banks have declared bankruptcy." ”

"Listening to what you mean, it seems that there will be more Korean banks that have gone bankrupt and collapsed?" asked Natsui Makoto seriously.

"The first dominoes are starting to fall, and then one by one they are falling. As for stopping there, it mainly depends on what active rescue measures the South Korean government and central bank take.

Of course, South Korea's chaebols are also a force to be reckoned with, as many commercial banks are their own companies. Kishimoto said bluntly.

"Why aren't you surprised? I'm so nervous for you. As soon as banks have a shortage of liquidity, then lending will be tightened.

As far as I know, you have quite a few investment projects in South Korea. Among them, the real estate in Gangnam District 3 of Seoul will more or less have a lending relationship with commercial banks.

Moreover, you have long told me that once the stock market plummets, the real estate will fall sharply, and then it will affect the real economy.

The situation caused by this kind of stock market crash cannot be controlled in time, and it will cause a great depression in a long time. Shops, factories, etc., will close one after another, and unemployment will skyrocket. "Natsui Makoto is serious.

Masayoshi Kishimoto smiled and walked towards the living room sofa and said, "You can still remember what I said to you in the past, it's not easy. ”

While Xia Jing Zhenqin followed him closely and walked inward, he looked at him with a calm and relaxed look, and the second monk was puzzled and said, "Did I say something wrong?"

"The real estate industry does need to borrow from banks, after all, it needs to make an advance financing. The bigger the project, the more money it will be raised.

Hard Gold Construction's project development in Gangnam 3, Seoul, South Korea, is indeed from commercial banks with loans. However, it is not a commercial bank in South Korea, but a hard gold bank under the hard gold group.

As the saying goes, fertilizer and water do not flow into the fields of outsiders. Even if you want people to earn interest, you earn it for yourself. The root cause of South Korea's stock market crash is the banking sector.

The reason why the banking industry has problems is that they issue credit cards. A person's overdue credit card debt can be completely ignored by any bank.

What if a million people, two million, three million, or even more people don't pay their credit cards because they're not just one bank, they're going to have many banks?

That would cause big problems for the entire Korean banking sector. The total population of South Korea is only 50 million. If you subtract minors under the age of 16 and the elderly aged 60, and only count the main economically active population between the ages of 16 and 59, the population is far from 50 million.

The money that so many people used to spend on credit cards has already gone to the people who provide them with goods or services.

This means that the banks have made a transfer payment for them in advance through the credit card center. Today, they can't afford to pay off their credit cards, which means the bank can't collect it.

In addition, the main lending targets of commercial banks are those enterprises and companies. The loan time has not yet arrived, and of course others do not need to be in a hurry to repay it.

Then there are the housing loans lent out by commercial banks, and the various securities and stocks that are bought...... Its actual cash ratio is very small, not as much as imagined, after all, market value is one thing, and cash is another.

There is a control point in the bad debt ratio of banks, and if they exceed the red warning line, they will go bankrupt and go out of business. Today's Korean commercial banks are not only faced with the problem of extremely high bad debt rates of credit cards, but also have to deal with the crowd of people who crowd banks to make cash withdrawals.

Relying solely on the little reserves set by the central bank is far from sufficient to cope with the current crisis. Kishimoto turned around and sat down on the couch.

Natsui Makoto sat beside him and said with a solemn face, "Then there is no solution?"

"Of course there is. The simplest, crude, and most straightforward solution is for the Bank of Korea to inject a large amount of loans into commercial banks. ”

Kishimoto is not talking nonsense in front of her. The United States erupted in 2008 with the global financial crisis. It was the Federal Reserve, known as the central bank of the United States, that injected $850 billion, and then gave it to ten large commercial banks in the United States.

In addition to agreeing with them on the annual interest and how many years to repay, they were also forced to accept the additional conditions of the 10 large commercial banks, which were to reduce the content and terms of supervision.

Otherwise, they will collectively not borrow this money, and it will be a big deal to watch the sky fall. At this time, hundreds of millions of ordinary Americans were unaware.

"Since it's so simple, why hasn't the Bank of Korea rushed to bail out the market?" said Natsui Makoto, who still didn't understand.

"Who left the Bank of Korea with so little money? Even if it wanted to bail out the market, it couldn't do it. Kishimoto said with a smile.

"You lied to me. You must be lying to me. A country's central bank is the only institution that can issue currency. Commercial banks do not have such powers. It is absolutely impossible for a central bank to be short of money. Natsui Makoto didn't believe it.

"What's the use of the Bank of Korea's aggressive printing of won into the market? It will only increase the panic and inflation in the current market.

Now at this critical time, whether it is the governor of the Bank of Korea or the president of South Korea, only after the head has been kicked by a donkey, will they wantonly over-issue currency to the death.

If the South Korean government wants to stabilize the current situation, what it urgently needs is hard currency. I am not talking about precious metals such as gold, but currencies with good international credit, stable currency values, and strong exchange rates.

This includes not only the US dollar, but also the Japanese yen, the British pound, and the euro, after all, they are currencies that belong to the currency basket (a foreign currency combination used as a reference for setting the exchange rate, and the proportion of a foreign currency in the portfolio is usually based on the importance of the foreign currency in the country's international trade, and is a group of currencies composed of multiple currencies according to a certain proportion).

Both the South Korean government and the central bank have seen that it is better to wait than to throw foreign exchange reserves into the water. This is an attempt to stabilize the market and restore investor confidence in South Korea with the help of foreign aid. Kishimoto said with a smile.