Alan Greenspan, the current chairman of the Federal Reserve, is the most powerful man in the world today.

It is entirely possible to leave out the word "one".

Since Greenspan was appointed Fed chairman by Ronald Reagan in 1987, the big-nosed Jew has sat in that position for 11 years, serving three or four terms as presidents without falling. In fact, he will also go through a fourth president, becoming the second-longest serving leader in the Fed's history.

The reason why Greenspan is the most powerful man in the world is because he has the most powerful weapon of the United States, the most powerful country in the world, the dollar.

Greenspan is the most controlling of the previous Fed chairman, and although he has experienced many twists and turns in his nearly 20 years in office, the Fed has never left the palm of his hand, and no competitor can challenge his position. Even his successor, Ben Bernanke, is often considered one of Greenspan's puppets.

The reason why Greenspan was able to have such a strong control over the Fed is that in addition to his excellent political performance, his superb political skills are also factors that cannot be ignored.

At the beginning of Greenspan's tenure, it coincided with the 87 stock market crash in the United States, the conflict between the United States and Iran triggered global economic turmoil, which began in Xiangjiang, spread to Europe, and then spread from Europe to the United States, on Monday, October 19, 87, in just one day, the Dow Jones fell 508 points, a decline of more than 22 percent, and evaporated 500 billion US dollars in market value, which was more severe than the stock market crash of the Great Depression in 1929, known as "Black Monday".

By this time, most people had begun to make pessimistic predictions, and a new Great Depression had begun.

But Greenspan responded with composure and decisively put the urgency of dealing with the economic crisis above the policy of monetary austerity.

Fifty minutes before the market opened on Tuesday, Greenspan issued a brief statement: "The Federal Reserve, in accordance with its responsibilities as the country's central bank, today reaffirmed its readiness to play its role as a source of liquidation to support the economy and financial system." ”

To put it bluntly, it is to release water.

This move quickly calmed the market, and in just a few months, he recouped all the losses suffered by "Black Monday" and impressed Wall Street.

From the perspective of later generations, Greenspan's release of water was able to achieve rapid results, and the fundamental reason was that the foundation of the US economy was stable at that time, although a temporary market panic led to a sharp fall, but as long as a certain confidence was re-injected into the market, a return to rationality was inevitable.

But these were all afterthoughts, and at the time, what people saw was that Greenspan had just taken office, and his first move saved the American economy and the world economy, and avoided an economic crisis comparable to the Great Depression of 1930.

In last year's Asian financial crisis, Greenspan's performance was even more spectacular, with three interest rate cuts reducing the federal benchmark interest rate from 5.5% to 4.75%, making the United States a big winner in the global financial crisis.

That's hard power.

But it is not easy to take full control of the Fed with only strength.

To control the Federal Reserve, we must first know how to control people's hearts.

Greenspan's speech is often ambiguous, and both his subordinates and the media have to speculate about the real meaning behind his words, and he often sees this kind of thing as a test of his subordinates' ability to test whether the other party has economic sensitivity.

The same is true for partners, often until the final results come out, others do not know what he said in the first place.

Alan Greenspan famously said, "If you think you understand me perfectly, you must have misunderstood me." ”

But today, Greenspan went against the norm and bluntly asked the bigwigs present to pay to save LTCM, which shows the urgency of the matter.

"Yes, we have to bail out LTCM. An elderly white man with a big Jewish nose paused heavily to attract everyone's attention, "UBS has purchased LTCM 1.6 billion Swiss francs, Deutsche Bank Jiahua 200 million US dollars, Credit Suisse 300 million US dollars, if these European banks can accept write-offs and make debt impairments, LTCM's debt leverage can be reduced to an acceptable level, and the difficulties will be solved." Merrill Lynch Chairman and CEO David Comansky immediately expressed support for Greenspan's proposal.

"What are you talking about!?" UBS CEO Marcel Ospel was furious, "Why should you Americans accept impairment for what you Americans have done?"

"The U.S. is UBS's largest overseas market, and if you want U.S. profits, you should accept U.S. risks. Goldman Sachs CEO Henry Paulson interjected.

"Nonsense! If the impairment is impaired, all banks should be impaired in the same proportion!" said Joseph Cohen, chairman of Deutsche Bank Jiahua, who did not give an inch.

The conference room itself is not big, and the conference room that can only fit a dozen people is crammed into more than 30 people, and many famous bigwigs do not even get a leather chair, so they can only sit on simple folding chairs, and when everyone argues, Greenspan has a noisy feeling of entering the trading floor of the New York Stock Exchange.

"Everyone!" Greenspan stopped the pointless quarrel with a calm face, and as soon as he spoke, everyone fell silent and listened.

As soon as Greenspan spoke, global investors pricked up their ears.

This financial proverb is very apt here.

"This is our common crisis, our common one!" Greenspan snapped with unprecedented clarity, "whether it's UBS or Merrill Lynch or Morgan, you are all big creditors of LTCM, and you should all know very well what it means to you if LTCM really falls." ”

There was silence in the conference room, and Greenspan's gaze passed through the top of his glasses and swept over everyone: "Now it's not just a matter of impairment, but more importantly, LTCM must get cash support to support them through this winter, otherwise, all your previous investments will be wasted, I promise!"

The most unacceptable thing for banks is bad debts, and what is more difficult to accept than bad debts is to continue to lend to bad debt companies.

Banks, whether investment or retail, are the icing on the cake.

"Morgan, UBS, Merrill Lynch, the three of you need to contribute 130 million US dollars proportionally to inject LTCM, this is your responsibility!" Greenspan looked at the three top bigwigs in the financial circle majestically, and repeated, "Yes, this is your responsibility, you are LTCM's biggest customer, LTCM falls, you will all be affected, rather than writing off debts, continue to inject capital Maybe you can wait for LTCM to win life." ”

The three bigwigs looked at each other, and $130 million was a small thing for the three banks, but it was not trivial to convince the board of directors to invest in LTCM at this time.

Continuing to inject capital into LTCM knowing that the risk is extremely high is not in line with the risk control policy of any bank.

"Or, if someone is willing to buy LTCM, that's acceptable. Greenspan looked around at the room, "According to the Federal Reserve's calculations, $225 million can buy LTCM, is any of you interested?"

Not one of them spoke, and they were silent.

What are you kidding? $225 million? Do you think everybody's money is blowing in the wind?

"Okay, I'll appoint ......" Greenspan was just about to use his authority to force these capital predators to buy LTCM, when he heard a slightly shrill voice from the corner.

"$175 million, taking on all debt. "Bellankefen's baldness glistened in the light.

"Are you?" Greenspan narrowed, the man was somewhat familiar, but he just couldn't remember where he had seen it.

"Lauerd?" surprised Goldman Sachs CEO Henry Paulson, "why are you here?"

Blanciffen smiled: "Hi, Henry, long time no see. With that, he turned to Greenspan and said, "The Cowyce Fund is willing to buy LTCM in full, dear Mr. Chairman, this is our official offer." "Please Baidu "Throw Book Network" Thank you for your support!