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From the map, London and the northernmost city of the mainland of the Black Box City are almost the same dimensions, but the coldest city of Black Box City can reach minus 39 degrees in winter, while London is affected by the warm current of the North Atlantic Ocean, and the coldest winter is only minus 10 degrees. However, in summer, the temperature between the two places is not much different, and the maximum temperature generally does not exceed 30 degrees.

The weather in London in June is neither hot nor cold, and it is also the least rainy season of the year, which is very rare for London to be rainy all year round, and even the Queen of England has changed her birthday from April to June.

The beautiful weather has also made the streets of London more popular than ever, especially in the three areas where they are often traveled, and there are countless media reporters who monitor their whereabouts.

Unlike some time ago, Zhou You now has to go to major institutions in London every day because of various investment operations, and he can't hide at home, so he has now become the most limelight star in London.

To the east is Canary Wharf on the Isle of Dogs, with the city of London a mile in the middle, and to the west the garden street of Kensington Palace, where the tour lives. Every line in the middle of this area has been studied by reporters clearly, and even if Zhou You has now increased his bodyguard team to more than ten people, he still can't escape the reporters' blockade.

When the subprime mortgage crisis in the United States was detonated in advance by Zhou You, the word subprime mortgage crisis has become the hottest word since June, and the front pages of the world's major media have almost been dominated by this word.

Except for the American media, almost the entire world of the media is watching American jokes. In particular, the European media, because of the global hegemony between the euro and the dollar, are now excited to see that the US dollar is affected by the subprime mortgage crisis and its international status is crumbling by the impact of the euro. They could never have imagined that this crisis was not only for the United States, but also for themselves.

The first to react was the European bank, HSBC Holdings, which had just received a much-rounded $8 billion in financing, and announced in a high-profile manner that it would increase its provisions for subprime housing credit in the United States by an additional $10.5 billion to deal with the current credit defaults in the United States. As soon as the news came out, the stock market fell sharply on the same day.

New Century Financial, the second-largest subprime mortgage company in the United States, subsequently announced that it had filed for bankruptcy protection and laid off more than half of its employees. The German Industrial Bank announced a profit warning, and later estimated that there was a loss of 8.2 billion euros, because a large scale of 12.7 billion euros for the Rhineland Fund and the bank itself to participate in a small amount of business in the US real estate subprime mortgage market suffered huge losses, the German Central Bank immediately convened the national interbank to discuss a package to save the German Industrial Bank.

The 10th largest mortgage lender in the United States, the American Home Mortgage Investment Corporation, could not hold on, and officially filed for bankruptcy protection with the court, becoming another large mortgage lender in the United States to file for bankruptcy after the New Century Financial Corporation.

After them, Bear Stearns, the fifth-largest investment bank in the United States, announced the collapse of two of its funds, also due to the subprime mortgage storm. BNP Paribas, France's largest bank, announced that it had frozen three of its funds, also suffering huge losses from investing in U.S. subprime mortgage bonds.

The move caused a sharp drop in European stock markets, and it was only at this time that the Europeans reacted, and it turned out that the subprime mortgage crisis was not only affecting the United States, but now affecting themselves because of the close relationship between European banks and investment institutions and the United States.

After returning from Spain, Zhou You's hectic travels were busy, and his lack of financial knowledge made him have to study hard every day to understand the impact of the subprime mortgage crisis on the world economy from the roots, and to consider the next step based on the events that happen every day.

The high degree of similarity and correlation between European and American countries on both sides of the Atlantic in terms of ideology, institutional model, economic system, investment, trade, etc., coupled with the fact that the continuous development of globalization has accelerated capital securitization, financial liberalization, and a high degree of economic interdependence, makes the correlation between these two regions far greater than that of the other two regions. Therefore, the slightest disturbance on either side of the Atlantic could trigger a common uproar on both sides of the Atlantic.

Although the outbreak of the virtual economic crisis has not yet affected the real economy, major banks and financial institutions have been seriously affected.

On June 15, North Rock Bank of the United Kingdom was affected by the subprime mortgage crisis and a serious run occurred. In order to save the UK's fifth-largest mortgage bank and protect £24 billion in customer deposits, the bank was injected with huge sums of money by the Bank of England. This also means that this large bank, which has just entered the world's top 500 for less than three years, has officially announced its change of ownership.

Worldwide, the dollar has been affected by the subprime mortgage crisis, and depreciation pressure has increased dramatically. However, as banks around the world are losing money due to the subprime mortgage crisis and non-performing loans are increasing, banks are facing a shortage of dollar assets.

To put it simply, although the dollar is about to depreciate, all major banks lack liquid dollar funds, which alleviates the pressure of dollar depreciation to a certain extent.

Santander and HSBC have not been affected much for the time being because of the collateral of US dollar assets traveling. Of course, the main reason is that these two banks had already begun to react months ago, raising huge sums of money to deal with the shortfall.

In the sudden crisis, the banking sector in Western Europe suffered large losses. The banking sectors in the United Kingdom, Germany, Switzerland, France, and the Netherlands suffered the most from the subprime mortgage crisis, while banks in Spain and Italy suffered less losses due to less involvement in subprime mortgage products and more robust operations, and quickly expanded by buying failed banks, but only Spanish and Italian banks survived the crisis.

Spanish banks were relatively less affected by the financial crisis, partly due to the country's banking sector having fewer subprime mortgage assets, and partly because Spanish overseas banking was dominated by Latin American countries. While banks in the United Kingdom and Germany suffered serious losses, Spain was also looking for new development opportunities in the crisis.

Santander has not only acquired ABN AMRO's operations in Brazil, but is also in talks with the UK government to acquire the British Union Bank of Leicester. The process of restructuring the assets of European banks will continue as Europe tightens financial regulation, and Santander and HSBC are the only two banks in the European banking community to buck the trend.

Everyone knows very well that the main reason for this is because of the participation of Zhou You. When Zhou You first took a stake in these two banks, financiers around the world were ashamed of the two old banks' submission to Zhou You, Santander is the second largest bank in the eurozone, the first largest bank in Latin America, and is also in the top 10 in the world.

After HSBC was restructured into HSBC Holdings in the 90s and moved its headquarters to London, it immediately became the most prominent banking institution in the world, and became a benchmark in the industry for both bank control assets and international investment and wealth management.

However, the two banks accepted a private capital injection from Zhou You, making Zhou You the largest individual shareholder. At the beginning, the ridicule of countless people turned into admiration, but at this time today, everyone realized that the introduction of travel was definitely one of their most correct choices.

The impact of the subprime mortgage crisis has intensified, and the whole United States is in mourning, and under the influence of the United States, European countries also have a feeling of dying and cold.

Conversely, Asian banks have not been affected much by the crisis, as Asian banks have been less involved in subprime mortgage loans.

The trigger for the subprime mortgage crisis was the subprime residential mortgages in the United States, and the continuous securitization of these loans, including the primary financial derivatives RMBS (residential mortgage-backed securities), the derivative financial products CDOs (mortgage-backed debt obligations) and CDS (credit default swaps).

These innovative financial bonds are favored by European banks and investment funds due to their high yield, high risk, and unlimited transferability. As a result, with the exception of the United States, the financial crisis first hit the European financial industry, and European banks that held large amounts of American subprime mortgages were hit hard, with a sharp credit crunch and a severe shortage of liquidity, which eventually led to almost all major European banks and insurance companies being implicated in the crisis.

Since most of the Bank of Asia is in the development stage, it has not yet been involved in this "high-end" business, so it has avoided losses, which can be regarded as a blessing in disguise.

In the impression of Zhou You, the subprime mortgage crisis was mainly divided into two stages, the first stage was from the bankruptcy of New Century Finance to August 2008, and the second stage was from the bankruptcy of Lehman Brothers, and the subprime mortgage crisis began to expand from the banking industry to the impact on the real economy.

Although the current subprime mortgage crisis is different from history in terms of time because of his appearance, in the original history, the subprime mortgage crisis broke out in August, but in this life, it began to erupt at the end of May. But he didn't pay much attention to it, he was still secretly following Lehman Brothers' movements, because time was unreliable, but the course of events had not changed significantly.

He doesn't need to pay attention to details, he just needs to keep an eye on a few key nodes.

During his time in London, he met with countless bankers, attended countless meetings, and met with representatives of various governments every day, and his time in London was full.

The results of the first phase of the foreign exchange discount of his dollar assets are still very satisfactory, but he also knows very well that from now until the bankruptcy of Lehman Brothers, during this period of time, due to the shortage of dollar funds and insufficient liquidity, the depreciation of the dollar will come to a standstill, and it will be slowly pushed up.

At present, the countries with the largest amount of foreign exchange in the US dollar in the world are the mainland and Japan. Because of the close relationship between Japan's financial industry and the United States, and the close relationship between Japan's stock market and the United States, a large amount of funds need to be supported by its own banks and enterprises.

But for the mainland, the large amount of dollars in hand has become an attractive target for all countries and banking institutions.

In his previous life, Zhou You didn't know the movement of the large amount of money in the mainland, but according to the analysis of the purchase of a large number of US Treasury bonds, most of the funds were not used on the cutting edge.

So, when senior management in the mainland contacted Zhou You, he came up with the idea of the funding.

On June 29, Zhou You re-changed his assets, using his accounts at Santander and HSBC to recount the US dollar assets that had sunk at this stage according to US dollars, and began to buy a large number of US dollars in the foreign exchange market.

But at this time, central banks are holding on to the dollar, and even if they want to open positions, they can't find an opponent.

Due to the involvement of the Spanish observer team, Zhou You's movements in London during this period were almost always exposed to everyone's eyes. From his selling of dollar assets and not being optimistic about the dollar, to the fact that the dollar has bottomed out, he has started to speculate on the dollar again, which has also made major European banks pay more and more attention to the dollar funds in their hands.

The credit crunch of Europeans has also made Americans very annoyed, because the United States is the most lacking dollar now, and now it is not simply printing dollars that can solve the problem, because printing more dollars will only lead to one consequence, that is, the sharp depreciation of the dollar. Even if the United States wants to drag the whole world to pay for the financial crisis in the United States, it cannot be so simple and rude, otherwise it will become a public enemy of the whole world.

Even if the United States launches the Gulf War or the Afghanistan War, it must put on a coat of justice for itself, which is the foundation of the country.

Since Zhou You's left the United States last year, all his actions internationally have been the opposite of the United States. But the Americans are helpless, because all the actions of traveling around are legitimate business methods, and they can't find fault if they want to.

Zhou You is not worried about the damage to his assets in the United States, because almost all of his industries are not independent and involve too many interest groups.

What's more, the United States, like the United Kingdom, routinely implements the Ocean Act, which protects personal assets from infringement, which is the first article of the constitution of the country in the Sea Act and is not subject to any legal provisions.

As long as Zhou You does not break the law, no one dares to make up his mind about his property. Moreover, the United States is only a code name for international interest groups, or national groups. There is no real subject of the state in this country, and there is no concept of confiscation of private property to enrich the state, because no one can replace the state.

Even if Zhou You makes more outrageous moves, the United States is helpless, because they themselves are not monolithic. Who can truly represent the United States? Democratic party? Republican? Or is it a state agency? Neither! It's not some constitutional monarchy where the king can represent the country, but in the United States, it's a big group of large and small interest groups, and no group can represent the country.

There are no worries, and it does not mean that Zhou You can act unscrupulously, all his actions are strictly based on one premise, that is, legal behavior.

On June 30, Zhou You left London on his own special plane and returned to the capital in the attention of people all over the world. Although his excuse was to attend the annual meeting of Tmall's third anniversary, no one really believed it.