On September 22, 1985, at the Plaza Hotel in New York, the finance ministers and central bank governors of the five industrialized developed countries of the United States, Japan, Britain, France, and West Germany secretly held a meeting and signed the famous "Plaza Accord".

Since Japan's economy is a typical export-oriented foreign trade, the appreciation of the yen has led to a decline in the international competitiveness of products, a rapid contraction in the value of product exports, and a difficult situation for enterprises.

However, the loose fiscal and monetary policies led to a surplus of funds circulating in the market, and then these excess funds set off a speculative boom in Japan, especially in the stock exchange and land exchange markets, and excessive speculation led to a continuous surge in Japan's stock prices and land prices, which greatly exceeded the growth level of the real economy, and finally led to the emergence of a "bubble economy".

The boom in the bubble economy was first reflected in the rise in stock prices, which increased by 2.7 times in the four years from 1985 to 1989, an average of 28.4% per year. In terms of real GDP, it was 4091834 billion yen in 1989 and 3429503 billion yen in 1985, with an increase rate of 4.5% over four years, that is, the average annual stock price growth rate is 4.3 times higher than the GDP growth rate. Or it is a symbolic economy, which is 4.3 times higher than the actual economy, which shows the severity of the economic bubble.

The crazy rise in real estate prices is also a manifestation of the bubble economy. Three years from 1987 to 1989. Land prices in Japan rose by 5.4%, 10%, and 7.6%, respectively, with an average increase rate of 7.7% during this period, while the average annual price increase rate for consumers was only 1.8%, which means that the rate of land price increase was 4.3 times higher than the rate of price increase. This situation is obviously extremely abnormal.

The skyrocketing stock and land prices have increased the 'capital' held by various Japanese banks, thereby increasing their ability and total amount of loans, most notably as Japan's major banks have become among the world's largest. And since the collateral for the loan provided by the Bank of Japan is land. The rise in land prices created conditions for the increase in the amount of credit, so excessive credit created a bubble economy, which in turn gave rise to more credit, and the result of the vicious circle finally made the bubble economy swell to an alarming level.

But the continuous surge in the stock market has made all Japanese lose their cool heads. A belief that the Japanese stock market is unlikely to fall is formed in the minds of almost everyone. However, without them noticing, the American financiers used a new financial nuclear bomb -- "stock index futures" -- to come to Japan and bet with the Japanese insurance industry on the future rise and fall of the index, after which a large number of short stock index options finally began to exert their power, and the stock index options that Goldman Sachs bought from the Japanese insurance industry were resold to the Kingdom of Denmark, which sold them to the buyers of the warrants and promised to pay the proceeds to the owners of the "Nikkei put warrants" when the Nikkei index went down.

The warrant was an immediate hit in the United States, and a large number of American investment banks followed suit. By this time, the time had come to December 29, 1989.

Gu Chen watched as the Japanese stock market finally froze at 38,915 points amid slight turmoil, which was the highest point ever on the Nikkei Stock Average. He couldn't help but have a strange smile on his face, although he couldn't remember the specific number of the highest point of the Nikkei Average, but he remembered that it was close to 40,000 points, which basically matched the number on the computer at this time, which also meant that a good show was about to begin.

If his memory is correct, from January 1, 1990, that is, the morning after tomorrow, the entire trading panel of the Japanese stock market will be green, and at a time when almost everyone is still optimistic about the Japanese stock market and still thinks that the Japanese stock market will continue to rise, only he knows that the moment of disaster is coming, and he has been preparing for this as early as a month ago.

First of all, the $100 billion he was ready to invest in the Japanese stock market crash needed to be secretly transferred to Japan in batches, because the amount was huge, and it was just when international speculators were about to move, it was inevitable that the Japanese government would notice it. Barroman followed his instructions to multiply the $100 billion leverage theorem by a factor of five, and $500 billion was slowly invested in the stock market.

Because Gu Chen can't remember which stocks are rising fast and which stocks are rising slowly, the 500 billion US dollars are bought by the large market index, although the funds are large, but because they were slowly invested in more than two weeks, the market did not react much, and with the rise of the stock market, 500 billion US dollars is gradually getting bigger, and by the last week, all the funds have changed from the original buying up to buying down.

At this time, Gu Chen also came to Japan in person, this Japanese stock market crash is a big battle, and he is really not at ease if he does not personally supervise the war.

"Boss, this week we have not only lost all the money we made before, but also lost more than 30 billion US dollars, are you really sure that the Japanese stock market will fall? Although I also think that the Japanese stock market will collapse sooner or later, it seems that the time is not yet there. ”

"Everyone, including those foreign investors, is buying up, are we too special? I also think that the Japanese stock market will continue to rise for some time to come, do you want to rethink it, knowing that you will lose tens of billions of dollars a day. ”

John? Barroman saw the Nikkei Stock Average close to a new high, a scenario that has happened almost every day since he came to Japan, even after Gu Chen ordered him to buy and sell. This made his blind worship of Gu Chen since that terrible 'Black Monday' gradually waver, and today he finally couldn't help but persuade him, hoping that Gu Chen could change his mind.

Gu Chen smiled slightly, walked to the window, diagonally opposite the Tokyo Stock Exchange, the crowded crowd was coming out of the exchange at this time, everyone had an excited smile on their faces, it was obvious that today was another bumper day, their wealth had increased more or less in the past day, and at the same time, they were all looking forward to the arrival of the next trading day, because that meant wealth.

"Do you see those people, each of them is rejoicing at today's harvest, and they will probably celebrate and cheer in various ways in the next two days. But who knew that the nightmare was about to begin, and in two days the wealth they had accumulated over the past few years might be wiped out in an instant, and all smiles and joy would be said goodbye to them once and for all, and perhaps one of them would jump from the top of the building opposite, bloom a bright red flower, and thus end their short and humble life. ”

Gu Chen's eyes looked at the gate of the Tokyo Stock Exchange, and he said lightly, his words were very soft and slow, as if he was talking to himself, but just such a seemingly plain sentence was given to John? Barroman had a very strange feeling, in his eyes, Gu Chen at this time was more like a prophet who could predict the future, rather than a businessman with a huge fortune of hundreds of billions of dollars.

After a while, Gu Chen turned his head to look at John? Barroman, smiling, said: "I know you put all your money into it to buy up, if you believe me, just buy down at the beginning of the next trading day, this is your last chance, otherwise you will regret it." ”

John? Barroman's throat seemed to be stuck, and he couldn't say a word, and he suddenly realized that he seemed to have made a big mistake, because he remembered that terrible 'Black Monday', and Gu Chen was so confident at that time.

At this time, Huo Zhenhuan walked in from outside, and after greeting Gu Chen, there was a look on his face that wanted to say something, Gu Chen knew what he wanted to say, so he said directly: "Now that the Japanese stock market has risen to the top, whether it will fall or not, we can see on the 1st." ”

Since everyone will be in the same boat in the future, Gu Chen also took the joint fund to act together in this operation, and the office was next door, but compared with the 100 billion US dollars invested and mobilized by the Tang Dynasty, the joint fund recovered most of the funds were only more than 20 billion Hong Kong dollars, which was converted into almost 3 billion US dollars.

The $3 billion also used 5 times leverage, turning into $15 billion, all of which was invested in the stock market and bought the market index down.

It can be said that Li Jiacheng, Huo Yingdong and others have made heavy bets on Gu Chen this time, if they lose, not to mention that they will break their muscles and bones, and even bankruptcy is possible, no wonder Huo Zhenhuan is so worried when he sees that the Japanese stock market has been rising, it is all money.

It's just that Gu Chen said so, what else can Huo Zhenhuan say, before coming to Japan, the board of directors of the United Fund decided that this operation would be under Gu Chen's full command, and he was just responsible for the implementation, and the only thing he could do now was to hope that the stock market would really fall next Monday.

"John, I asked you to write down the stocks that have risen the fastest during this time, have you remembered?"

"Yes." John? Barroman walked over and took a piece of paper from a computer desk: "It's all written down on it." ”

Gu Chen took it and looked at it, then handed it back to John? Barroman: "Give Zhenhuan a copy, and when the stock market opens next Monday, you will immediately set aside some of your funds to buy these stocks and fall, and the faster they rise, the more they fall, and the more we will earn." ”

Seeing Gu Chen so confident, John? Baroman and Huo Zhenhuan were also infected. (To be continued......)