Chapter 422: The Big Five of Wall Street
If you only know about Xu Teng's itinerary for this visit to Tehran through television, newspapers, and websites, you must think that Iran's new cabinet is indeed very courteous to Xu Teng, and you will even think that Xu Teng has signed a lot of lucrative contracts in Iran, and you will never be able to imagine the annoyance and annoyance of the whole process. Pen % fun % Pavilion www.biquge.info
When Xu Teng left Tehran, he encountered a rare thundershower, and after the heavy rain, he waited for seven hours before reapplying for a new flight route and take-off permit.
For a while, he even felt that he might not be able to leave Tehran for the time being.
He would not say, in the end, it was the ambassador himself who came forward to allow him to leave at 9 o'clock in the evening of this day, to be honest, he was worried that he would be "malfunctioned" by an air defense on the road and directly hung up by the SA2 air defense missile.
At the time of his departure, there was no official Iranian official to see him off, except for the heads of the embassy and several branches of the Huayin consortium in Iran.
In this way, Tehran's bureaucracy told Xu Teng that they were angry and that the consequences were severe.
Xu Teng could only shrug his shoulders, turned around indifferently, and was indifferent.
Because he knew that Iran had hundreds of means to make the Huayin Consortium suffer losses, but no matter which means they used, in the end it only delayed their own development, and they had no choice.
On the departing plane, in the dark clouds, Xu Teng drank a glass of Remy Martin, hoping to clear the bad luck with the phrase "As soon as Remy Martin opens, good luck will come naturally", he can even understand at this moment why Iran wants to give all the big contracts to South Korea after the end of the nuclear sanctions.
Iran is also fed up with this kind of cooperation with China, and has exploded all kinds of anger that has been held back for more than ten years to show China.
China just shrugged its shoulders and waited to see the day when Iran would hold back its tears.
The world is cruel.
Xu Teng believes that maybe in five years, maybe ten years, Iran will finally understand that China's cooperation method is already very fair, and that just because you have money doesn't mean you can buy technology, not to mention that you don't want to pay for it yet.
Iran will eventually understand, and must understand, that no country in this world is the protagonist, and no country can do whatever it wants, except for the United States. If you want to be the most special country like the United States, you must first have the status of the P5, which is one of the most basic conditions, secondly, you must have a land area of 9.6 million square kilometers and a population of 1.4 billion, and finally, you must continue to make more sacrifices on this basis, not just rely on the little oil reserves at home to play tricks, let alone pray five times a day.
When Colonel Ka was in power, all the oil giants had to admit that Colonel Ka was very strong in bargaining, and Libya's oil extraction business was really not easy, and the profit margin was very low.
That being said, there is still no one going to Iran to develop oil, because Iran is even more powerful, and the contract changes every day, every year, until you don't make a penny.
Not to mention nuclear sanctions, even without nuclear sanctions, there are really not many oil majors willing to go to Iran to extract oil.
When the global oil price is at its lowest, Iran will give you a contract to build the oil field at the best price...... If you want to believe it, you are so stupid, just change a deputy minister and burn the previous contract to you like waste paper.
Has Xu Teng's visit to Iran been fruitful these days?
Yes!
He is clearly aware that Iran wants to become the world's industrial power and restore the glory of the empire from the bottom of his heart, and at the same time, he also believes from the bottom of his heart that China is hindering Iran's industrial rise, and he is very vigilant that China is Iran's main competitor in the world industrial field.
This is true, Iran's industrial system is still relatively perfect, in the Middle East cement, steel, glass and other markets, the main competitor is really Made-in-China.
In recent years, under the impact of the Huayin Consortium and the Huateng Industrial Complex, the state-owned factories in Iran have had a very difficult time, because the prices of mechanical and electrical equipment, complete sets of facilities, and electronic products produced in Iran are roughly the same as those of the Huateng Industrial Complex, and the technological gap is basically more than 20 years.
As for why the cost of Iran's local production is so high, this can't be asked to Xu Teng, Xu Teng doesn't know, he estimates that Iran's internal elites should also be crazy about the system of state-owned enterprises, right?
In a thousand words, China's aircraft carriers are still too few and do not have the dignity of a great power.
After the special plane flew out of Iran's airspace, Xu Teng breathed a sigh of relief, because Iran gave him the feeling, to be honest, hated him, and he visited Iran this time, and the Iranians gave him the feeling that it was not like receiving foreign guests, but that he had made a lot of money in Iran, and he should compensate for some technology.
In the end, Iran, who didn't have to go to the technology, especially those people in the Iran cabinet, were really angry, and Xu Teng's experience was very direct, Iran is a country that doesn't have a fair trade mentality, and if you make money for him, he thinks you're exploiting him.
Of course, Xu Teng is not angry, he is not angry after leaving Iran's airspace, given that Iran's intelligence system has confirmed that it is correct, the plunge in the international crude oil futures market in the past few months is the result of his cooperation with Wall Street, and Iran did not kill him in the air, which is already super benevolent to Ka-Fi-le.
What else is there to be angry about?
During this time, global oil prices have begun a vicious circle of rapid decline, because the exchange rates of Saudi Arabia and Russia are being repeatedly tentatively attacked, as long as the two countries are soft, the exchange rate will collapse, and if they are not satisfied, they will have to expand oil exports to maintain foreign exchange reserves.
This is the classic double-headed snake trap set by the Huayin Consortium and the Big Five of Wall Street, you see which one you want to be bitten to death!
Saudi Arabia is expanding its oil exports, and Iran is certainly not to be outdone, which is humorous.
Venezuela and Nigeria are not good, they owe so much debt to the local tyrant countries, and they all rely on foreign exchange for oil exports, and they have to continue to expand production and protect foreign exchange reserves.
Miserable!
The June and September crude oil futures markets in the international crude oil futures market have fallen below the psychological price of $70, and the current price of crude oil trading has also fallen quite miserably.
This is a bloody battle between global international capital, oil countries and oil giants, and the most tragic thing is that many oil giants in order to avoid losses, including ConocoPhillips and ExxonMobil...... are shorting crude oil futures to hedge risks, this hedging is necessary, oil prices rise, ConocoPhillips does not make money, but oil prices fall, ConocoPhillips does not lose.
In such a period of high volatility in oil prices, the best way for oil majors to hedge their risk is to hedge their risk.
In the week of Xu Teng's visit to Iran, the long-short battle is basically over, the bulls in the international crude oil market have completely given up resistance, and the bears have few large institutions to take over, June futures have just fallen below the psychological price of $70, and September crude oil has rushed towards the price of $60.
Xu Teng's large layout basically saved the international oil market half a year, and it fell to the bottom in one go, which directly detonated the exchange rate risk of the ruble, coupled with the European Union and the United States' sanctions against Russia will expand at any time, and the decline of the ruble will be completely unstoppable.
The time is ripe for a bloody wash in Russia.
As long as you wait another month, when international capital frantically escapes from Russia, the opportunity will come.
Xu Teng came back alive from Iran, looked up to the sky and thanked him, and then threw himself into this wave of big operations...... It's not that he's afraid of death, and he doesn't have to think of the world too darkly, as the old saying goes, don't do bad things, and don't be afraid of ghosts knocking on the door.
In this wave of big operations, he definitely did everything he wanted.
Whether it is Russia or Saudi Arabia, the losses are very heavy, and Iran, the United Arab Emirates, Kuwait, Venezuela and other major oil exporters, including the major oil giants, will suffer very serious injuries.
After the launch of ultra-long-term 18-month crude oil futures in the London International Oil Futures Market, Xu Teng simultaneously shorted the medium- and long-term crude oil futures on the three delivery dates of June, September and December in 2014.
Through more than 40 large and medium-sized crude oil futures traders around the world, he shorted long-term oil prices on a large scale, forcing OPEC and Russia to adopt high-leverage hedging to balance long-term oil prices.
If you think he can force OPEC to make an all-out move, what a big bet is that, how big is the level of credit guarantee, basically the level of guarantee of the People's Bank of China and the Federal Reserve, to achieve this scale.
At the end of 2013, in fact, all parties believed that Wall Street was selling long-term oil prices across the board, but in fact, Wall Street did not make a move, and only Wall Street knew that it was able to guess who was actually forcing OPEC to bet.
By February 2014, the situation was clear, the Wall Street Big Five frantically joined, the battlefield gradually lost balance, and OPEC was not convinced that it could win until mid-February.
By this time it would be too late.
On the delivery day at the end of March, the Xu family and the Huayin consortium captured more than $30 billion in profits in the global crude oil futures market, and in the next three delivery days of 6, 9 and 12, it will definitely only be more crazy.
When Xu Teng returned from Iran, a new round of global oil crisis had taken shape, this time not the economic crisis caused by the sharp rise in oil prices, but the foreign exchange crisis in the major oil countries caused by the collapse in oil prices.
This is something that cannot be changed, because all financial institutions are on the side of shorting, and now they can't make much money when they enter the game, but they can make a lot of money anyway.
Who pays?
Russia, Saudi Arabia.
For Russia and Saudi Arabia, they can't afford to lose money unless they are willing to allow the ruble and rial to plummet.
It's troublesome now, just like the financial crisis of '97, Saudi Arabia is too profligate, and it will lose at least $200 billion in foreign exchange reserves to make up for the leverage loss in the next year, and only Saudi Arabia itself knows how much it will lose.
Once the rial is forced to adopt a floating exchange rate, the currencies of the UAE dirham and other Middle Eastern oil countries will be attacked one by one until all of these Middle Eastern countries abandon their linked exchange rates.
Because the economy of these countries is completely dependent on oil, and it is a high welfare system, the government is under great financial pressure, once the oil price avalanche, as long as it keeps attacking, it must keep burning foreign exchange, and there will always be a moment when it burns out.
If you don't want to burn it out, you can, give up the linked exchange rate and save the foreign exchange.
To protect the exchange rate or foreign exchange, you can only choose one of the two.
For example, Russia later gave up the exchange rate and kept the last bit of foreign exchange.
It was not until June 22 that the European Union officially announced that the sanctions against Russia would be extended for six months, which will last until 2017.
This time, it really completely killed the ruble exchange rate, the ruble exchange rate and the stock market of the entire Russian Union plummeted, and the massacre has taken shape.
Xu Teng, of course, made the most money, because he had the most chips in the ruble exchange rate and the stock market, and he shorted the most, basically taking away half of the capital gains, while Russia's foreign exchange reserves plummeted from $511 billion to $380 billion.
This time, Russia really doesn't even save the ruble exchange rate.
History has proven time and again that the method of hedging the exchange rate by burning foreign exchange is basically a dead end, and Brazil and Argentina have proven countless times, dying under the butcher's knife of Wall Street again and again.
On the day when the European Union officially announced the extension of sanctions against Russia for half a year, on June 22, Xu Teng quietly flew to New York to attend a secret meeting of the Big Five on Wall Street at the American International Building.
On the question of whether to attack the Saudi riyal, all parties still do not have an accurate conclusion, Goldman Sachs and JPMorgan Chase both believe that it can be attacked, Bank of America and Morgan Stanley do not have any clear opinions, only Blackstone clearly disagrees.
There is no political element involved, it is purely an analysis and comparison of capital and data.
Business is business.
The focus of the debate is still on how much foreign exchange Saudi Arabia can have left after the delivery date in December this year, and how much international bonds Saudi Arabia can raise from the capital market to make up for the shortage of foreign exchange, all parties are no longer very concerned.
Because Standard & Poor's and Moody's have been instructed by Wall Street to lower Saudi Arabia's credit by four notches in a row, preventing Saudi Arabia from borrowing enough medium- and long-term treasury bonds from the international capital market.
Blackstone, Goldman Sachs, Bank of America, Shuangmo, these are the Big Five after the subprime mortgage crisis on Wall Street, as for Citigroup, the investment banking business is not as good as before, and it basically relies on the credit card business to continue to die, and it is really unknown when the throne will be restored, and Wells Fargo is not a strong player in investment banking.
Strictly speaking, after the large-scale capital injection of the Huayin consortium, AIG also acquired Centleview Partners and United Bank of America at the end of 2008, acquired American Life Insurance Company in 2009, and acquired Generali Insurance in Italy in 2010, and its total strength became one of the top five in one fell swoop.
Of course, because of the many factors of Huayin AIG, AIG is regarded as one of the new five giants of Wall Street, but it cannot be regarded as one of them, which is very complicated.
This is already the highest status of AIG in its 100-year history.
Of course, in terms of real strength, at present, only Bank of America Group and AIG are at the same level, and the complexity of AIG lies in the fact that investment banking business, asset management business, and insurance business are among the top five in the United States, and the only weaker place is the commercial banking business, which can only rank about 10th in the United States.
BofA Group replaced Citigroup as the largest commercial bank in the United States, as well as the top five investment banks, and the 14th asset management company, which is relatively weak in the insurance business.
Wall Street is a very complex place, and it's also a place of strength.
AIG's chairman, Verence Wotander, doesn't care about the status of the Wall Street Big Five, however, the internal meetings of the Big Five, which he has to attend, have a lot to do with it.
Therefore, the secret meetings of the Big Five in recent years have been held in the American International Building.
The meeting was not as high-level as outsiders might think, it was actually just held in the office of Verrens-Wotander, attended only by the heads of the Big Five, and everyone sat together to discuss issues.
It's not the first time Xu Teng has attended such a conference, but he only attends when the top investment banks on both sides of the Pacific need to join forces, sitting alone in the north side seat facing the floor-to-ceiling windows of his office, in a scarlet leather sofa with a generous back and armrests.
Opposite him was Wellence Wotander, on the couches on either side of the coffee table, with Goldman Sachs and Morgan Stanley seats on one side of the wall and seats at Bank of America, Blackstone and JPMorgan Chase on the other.
Everyone chooses such a seat, and there is naturally a reason within the industry.
That's enough, there is no need for more people to participate, and after they agree, other investment banks will soon get the news.
"Shun, what do you think about now, we may not know how much foreign exchange Saudi Arabia will have in January next year, but you must know better. "Lloyd Brockffen, the chairman of Goldman Sachs, is certainly a true leader on this side of the Pacific.
"My sources told me that they are going to lose $230 billion in foreign exchange in the next six months, and if the price of oil falls below $90 a barrel, Saudi Arabia will run a fiscal deficit, and if it falls below $40 a barrel after January next year, I think there is a possibility of attacking the rial. Xu Teng's answer was accurate, he was not sure that the exchange rate attack on the rial would win, but if the price of oil fell below $40 a barrel, the probability of victory was very high.
"What do you think would happen if we broke down the price of December Brent below $40 by the end of December?" Lloyd Brockfin is the one who supports the attack on the rial, because it is indeed a huge business, and it is impossible for any one of them to wrestle with Saudi Arabia, but if investment banks on both sides of the Pacific join forces, it is extremely likely to tear up the entire Middle East linked exchange rate network.
What this means, every predator here knows very well.
This year is the best opportunity!
"I can do this, of course, with your help. "China is the world's largest oil importer, but if domestic oil prices do not fall with international oil prices, the total amount of imports will not change, and at the same time, we can force Nigeria, Kazakhstan, Venezuela, and Angola to commit to expanding production and increasing crude oil supply, and refuse their requests to reduce production and suspend debt." I can do that, and that means we're going to buy oil from the Middle East to an all-time low. ”
"In the shale oil market, we will adopt a consistent strategy to support production and exports, further squeezing the market share of Middle Eastern oil, and we can do the same. Since it is a partnership, the responsibility is shared by both parties, and Lloyd-Brockfen pledged that the White House will further liberalize the size of US shale oil and gas exports, as well as provide sufficient loans to maintain total US oil production capacity.
"At the same time, we still have to continue to attack the exchange rate of OPEC and Russia, forcing each company to maintain production capacity. Verrens-Wotander added that this is also the most important point, and that these big oil exporters should not be allowed to cut production.
"That's what I need, and on the basis of these points, I guarantee that we have enough confidence to break through the price level of Brent crude oil, not just crude oil, not just futures. I'm sure Iran will help as well, if I agree to meet their basic needs for phased array radar and chip technology. Xu Teng is not sure about the last point, which will require greater lobbying on Wall Street.
"What level of phased array radar and chip technology?" Lloyd-Brockfin was sure he would be able to convince the White House to agree, but he needed to determine the level of technology that the Huayin consortium would transfer to Iran.
"The phased array radar for ground air defense will not be very mature SEA technology, we will not adopt that technical route, and even if I give them the technology, it will take four or five years of hard work to assemble it. As for chip technology and production lines, I will control them at the 90nm level. Xu Teng shook the half cup of Rémy Martin 1898 in the cup, looking forward to the real good luck to come.
Although he broke up with Iran in May, the initiative has always been in his hands, he wants to reconcile, naturally he can reconcile, in fact, until today, Iran has not dared to attack his business.
As he judged, Iran didn't have a better choice.
"Of course, if the White House can acquiesce to our transfer of the Chrysan-class six-wheeled tractor to cooperate with the three-coordinate phased array air defense radar, Iran will not have any reason to refuse. I will not intervene directly, other Chinese companies will do it for me, and the United States can sanction them at any time without causing any disputes. Xu Teng gave a more perfect solution.
"Very good. Lloyd Brockfin was already convinced that there were no doubts, as long as they did all this, on the final delivery day of December 31, it was 100% sure that the price of international futures oil would fall below $40 a barrel, and he looked at the other giants, "Now, who has a new proposal, or a data against it?"
"Probably not, we can open a position now. "BofA Group, on its part, has been in favor of shorting rials, and Boone-Moynihan is particularly keen to seize this opportunity to break down the linked exchange rate across the Middle East.
After two hours of arguing and discussing, Huayin AIG and the Big Five finally reached a way to cooperate.
When they all come to an agreement, there will definitely be the right hedge fund boss in charge of the trade, they are investment banks and asset custodians, and they are only responsible for providing capital behind the scenes.
Professional work is always entrusted to the most professional people.
Xu Teng snapped his fingers and asked his people to bring in a bottle of Remy Martin Louis XIII, at this level, on this occasion, Rémy Martin Louis XIII is not a particularly high-end level.
However, this has a special meaning.
"In China, Rémy Martin has a good advertising slogan, once Rémy Martin is opened, good things will naturally come. Gentlemen, my father and I have always believed that in this world, men will always pay for two things, women and wine. So, after fifteen years of hard work, the four best cognacs in the world are my family business, sorry, please allow me to be a little proud!"
Xu Teng personally opened the bottle of Louis XIII, poured wine for each predator, and invited them to drink together, in the process of the Xu family's purchase of the four major cognacs, the price of Hennessy was a little bit of the beginning, Napoleon and Martell were considered highly premium, and Rémy Martin was simply a priceless and irrational offer.
The Xu family cares about this money, of course they don't care.
The offer of 11 billion euros is only for the acquisition of the four major cognacs.
"In this world, I only admire you, the great The-ShunFamliy! Also in this world, we all know a famous saying, no one can refuse The-ShunFamliy! Congratulations!" Mr. Boone-Moynihan began with a beautiful toast, and he was always grateful to The-ShunFamliy for providing a huge amount of financing at a critical time to help Bank of America acquire Merrill Lynch and United Investment Company in one fell swoop.
Moreover, The-ShunFamliy chose to exit at the right time, retaining only about 7% of the stake so far, and has no plans to try to control the Bank of America group.
"It is indeed a great business, for the sake of women and good wine, for the sake of which we will eventually destroy all the rotten linked exchange rate system. Lloyd Brockfin also raised his glass, although a little jealous, but he must admit that the real capitalist family is so free and easy, buying whatever it wants.
It's their prerogative, The-ShunFamliy's!
Here, the Big Five of Wall Street, plus Wellence Wotander, the chairmen of the nation's six largest asset management companies and investment banks, are in fact just the pinnacle of professional managers, the most senior partners.
Xu Teng is different from them, and his Huayin consortium is a typical family consortium, the richest family in human history to date, representing the Oriental family consortium on the west coast of the Pacific.
From Japan to Korea to China, this is their unique culture.
The family system is inherited by the consortium, and the generation has more wealth from generation to generation.
Women and wine.
Xu's Katia Group was born for this purpose, with the world's four major cognacs, five major wineries, as well as the best gin and whiskey, with Chanel, Hermes, Prada, Burberry four major luxury women's clothing brands, as well as the top three jewelry brands Cartia, Diphne, Swarlo, the top watch brand Patek Philippe, and the world's top three suits and dress brands.
The world's No. 1 luxury group is not the largest part of the family assets, but it represents the splendor and splendor of the entire family.
Even other wealthy people have to pay bills for their family businesses.
The Big Five of Wall Street are no exception, at least, they all wear watches from Patek Philippe and Vacheron Constantin, and their women's most eternal love is not them, but Cartia and Chanel.
What a tragic predator's life!
"Cheers, friends, we should celebrate this day, and when we open a bottle of Remy Martin, good luck and things will naturally follow. Wellense Wotander knows all the implications of that slogan and toasts to the dawn of a new era.
In a year's time, they will end the world's most stubborn linked exchange rate system.
There aren't many things in the world that are worth working with financial predators on both sides of the Pacific and Atlantic, and that's one of them, and for both China and the United States, they need to end the system.
Only then will they be able to take advantage of the fluctuations in oil prices at any time, sweep the currency spreads of all oil countries, and bring back the profits of oil trade to Wall Street.
When they achieve this goal, they essentially kill OPEC.