In September of the sixth year of the first year, the great bull market finally reached its peak, and Hoover had been in the White House for six months, and he signed a series of decrees: the establishment of the Vic Sam Commission, strict enforcement of Prohibition; An agricultural market bill has also been established to prevent surpluses, etc.

In the stock hall at this time, the Dow Jones index reached its peak on September 3, but many people are not aware of this fact, and they still expect the stock price to continue to rise.

Finally, on October 24, Black Thursday, the big traders on this day were mainly Kennecott Copper and General Motors, who each reached 20,000 shares, and the stock sellers continued to pour into the exchange from 11 a.m., panic continued to spread, and the crash officially arrived.

From the principle of conservatism in the operation of capital, the banker is quite right.

But Americans at the time had long been carried away by the extreme prosperity of the Coolidge era, and as early as the first four years of the Lunar New Year, those who had profited from the Florida real estate boom had begun to pour their surplus money into the New York stock market, and with the influx of this hot money, the price of common stock was once pushed to a fairly high position.

In August of the first six years, the Federal Reserve took a series of measures to add fuel to the burning stock market, including a reduction in the rediscount rate of the dollar from 4 to 3.5%, and government bonds were allowed to trade freely, so the stock market heated up again.

The Fed's reason for doing so is that at a time when European stock markets were languishing as money was withdrawn from the U.S. stock market, several European countries were struggling to keep their currencies from depreciating.

If the Fed lowers the dollar rediscount rate to a certain level, it will effectively prevent gold from accumulating further in the United States, which can help Europe get out of the shadow of currency depreciation, and at the same time bring tangible benefits to its own foreign trade.

In addition, the Fed also believes that the current business in the United States has stagnated, and if the rediscount rate is lowered, it may be able to stimulate the trade market and allow the economy to recover.

But what the Fed did not expect happened, and the measure of lowering the discount rate made the already "feverish" continue

The stock market has since become feverish.

"From the perspective of the stock market, the first five years are a historic year. According to a long-accepted view, it was in this year that the seeds of an apocalyptic catastrophe were sown. The responsibility lies with a generous, but stupid, act of internationalism. …… Britain reverted to the gold standard that had maintained the relationship between gold, the dollar, and the pound before the First World War. …… Gold then flowed into the United States from Britain and Europe. …… The corollary consequence of the government's massive purchase of outgoing securities is that banks and individuals who sell government securities have spare cash. …… The money that has become available as a result of the Federal Reserve System's monetary deregulation is either invested in common stock or, more importantly, to help finance the purchase of common stock. In this way, people have money and rush into the stock market. ”

"In investment trusts, leverage works in the form of bonds, preferred and common shares, which are used to purchase a different mix of common shares. When the price of the common shares purchased in this way rises (which is always assumed to be the price movement), the prices of the bonds and preferred shares in the trust remain largely unchanged. Because the price of bonds and preferred shares is fixed, it is derived from a specially defined rate of return. Profits arising from the appreciation of the portfolio of securities held by an investment trust are allocated in whole or substantially to the common shares of the investment trust. As a result, the price of the common shares of the investment trust miraculously rose. "This kind of investment trust that uses leverage can increase profits by a geometric level when the common stock rises. However, if the stock price falls, the profit will also be reduced geometrically. In the frenzied speculation before the autumn of the sixth year of the Taichu Dynasty, these investment trusts made huge profits; But in the Great Crash, their leverage made their common stock holdings almost worthless, and their total assets shrank dramatically. "Führer, our funds have been repatriated by 170%, and there are still 1.2 billion yen of funds stranded in the Japanese stock market, equivalent to 189 million Chinese dollars, and it is estimated that about 176 million will be repatriated after the sell-off, all of which will be transferred to the Swiss Bank of Zurich as a reserve for the next purchase plan. There are still 4.033 billion Chinese yuan stocks on the U.S. stock market, which will be sold in batches tomorrow, and it is expected that the return of funds will be about 4.1 billion to 4.5 billion Chinese yuan, which will be hedged by buying gold or Chinese yuan. "Miao Ruoxi of the Foreign Economic Department reported that the eldest lady of the Miao family is now the female head of the Shandong Chamber of Commerce, and is also a senior adviser to the Financial Management Commission of the Central Government, although she did not serve in the government after leaving the secretariat, but her connections and financial acumen made the Miao family worship this aunt and grandmother, and even her father and fourth uncle had to carefully ask the little girl's opinion when dealing with the family business, without her consent, the Miao family's capital dispatch of more than 10 million would not have happened at all." How big is the remaining capital bomb in the U.S. stock market? The piece of meat in Wu Chenxuan's hand was snatched away by the three generations of little leopards, and some of the little leopards also opened Wu Chenxuan's hand and there was nothing left, and the situation of having nothing made them angry, and they rinsed Wu Chenxuan's fingers with their small mouths, completely used as teething sticks, and their mothers were snoring evenly, reassuring their children. The two specimens made by their mother were crouching on the fireplace, staring intently. "There is also a scale of 230 million Chinese dollars, which is enough to push the U.S. stock market off a cliff at a critical moment." Miao Ruoxi said with confidence, "And the Japanese government's funds have 1.7 billion yen and are still monitoring the flow of our funds on the stock market, and they will cooperate with our actions." Now that the stock market has matured, I just don't know when to start the general offensive? "Don't be too quick about the general attack, the Jews will give us a signal." When the Swiss bank's surveillance information comes back, we will know when it will be launched. "Wu Chenxuan will not tell Miao Ruoxi, these days Minister He Min Hanhe has been sitting in Bern, China's overseas intelligence network has been mobilized, closely monitoring the flow of European funds." By the way, starting to harvest the American entertainment industry and news media after the stock market crash is our primary goal. As for the acquisition of fixed assets such as iron and steel, machinery, shipbuilding, and pharmaceuticals, it is not yet time, perhaps it would be better to start again in the first half of next year, and in addition, we should encourage the US Congress to launch a bill to block the acquisition of Red Russia, and if necessary, we can come forward to support the US blockade. "What about the Japanese acquisition?" Miao Ruoxi understood that the policy of the empire was to weaken the strength of Red Russia, in fact, Red Russia did deserve the attention of the imperial government, and in the case of years of war, Zhulishkov killed François's closest comrade-in-arms Lev in a coup d'état in Tongguò. After Comrade Blomstein, he came to power in Red Russia. Learning from China's five-year plan, the first phase of the five-year plan began, with the help of Germany and Britain, a large number of industrial machine tools were introduced, industrial modernization was realized, and Russia's foundation was stronger than China's. Under the conditions of a planned economy and without being constrained by the market, Russia's industrialization is astonishingly fast, and if Russia is allowed to obtain a large number of fine assets from the United States, it will be tantamount to adding wings to the tiger. But the Japanese takeover is not easy to stop. "Don't deliberately stop the Japanese side, and if necessary, handle a large number of acquisitions in Japan, after all, this time the Japanese are very active in the U.S. stock market, and it seems unreasonable to have no actual income." Wu Chenxuan's meaning, Miao Ruoxi understands very well, maybe Japan can get some practical benefits, and it can also get corresponding benefits in the progress of industrialization, but this confirms the fact that Japan has bought the US stock market, maybe the weak United States will not have any reaction to Japan, but when the United States recovers again, this kind of bitter hatred will make the American people's attitude towards Japan not too friendly. There are also a large number of Japanese enterprises in their hands, but these Japanese companies formed by Japanese companies in the name of Marubeni Sumitomo Morishigeryashi Izumi are actually in the hands of China's Ministry of Foreign Trade and Economic Cooperation and several major Chinese chambers of commerce, and these companies account for more than 80 percent of the total assets in the United States, and they are completely parasites inserted into the US economy to suck blood. These companies will be the front-line force in the acquisition of American assets in the later stage, but they will eventually become the target of US retaliation, and when they close their doors, the US government and the common people will think that this is a trick played by the Japanese to get out of their shells. Finally, Minister He, who was in Berne, sent back a signal that a large number of funds from the US stock market had entered Swiss banks, and the signal of "shark hunting" was transmitted by the radio signal of China's long-wave radio station, and in the US stock market that began on October 21, the so-called "Japanese consortium" actually controlled by China secretly sold stocks and withdrew a large amount of funds, and after the 4.47 billion yuan of funds had been converted into gold and Chinese yuan bonds. On the morning of October 24, the market opened in the morning, and the "Japanese consortium" unscrupulously waved thousands of stocks and began to sell them wildly, and tens of millions of assets were changed hands within a few minutes. "Each selling order increases the supply of shares on the stock market, which leads to a further decline in the stock price. As a result, each 'meat-cutting' transaction leads to another. It's a veritable ripple effect. "At a time when everyone is used to bull markets, the "Japanese" djinn slap the US stock market into the winter of a bear market. This book is from/book/html/29/29227/