Right here in Julian. While Robertson was still complacent about further increasing his position in Russian government bonds, he did not know that Moscow was quietly preparing for a default.

The Kremlin, which is frequented by state envoys from all over the world during this time, includes white faces, black faces, and even yellow faces. And the White House, where the State Duma (parliament) is located, is lit up all night long, and meetings are held as if they were watching from time to side, regardless of day or night.

In the early morning of September 2, the Kremlin, the presidential residence, was late at night, but President Yeltsin still did not rest, he wore pajamas, and walked back and forth in his bedroom restlessly. In the study next to the side room, a few well-dressed staff members sat anxiously staring at the red telephone on the desk in the center of the room, which represented free communication between heads of state.

They were waiting for a call, several very important calls.

After the Second World War, the Warsaw Pact led by the Soviet Union and NATO led by the United States began a confrontation that lasted for half a century, and the capitalist countries and the socialist countries formed two camps.

This was later changed by the missile crisis in Cuba, which almost led to a world war, which made countries realize how necessary it was for heads of state to connect with each other, and then set up a special route between Washington and Moscow for the two leaders to talk to each other, so that the two sides could resolve the misunderstanding at any time. Communicate in a timely manner about heavy events.

Although the former Soviet Union later fell apart, the later Russian Federation, the CIS, inherited most of their legacy, and such a route of communication was preserved.

Now, after Russia rejected the economic and financial reform package demanded by the IMF, whether the IMF should continue to provide Russia with more funds to tide over the current difficulties, and if it does not, whether the consequences of Russia's economic collapse will bring danger to the security of the Western world have become the focus of attention of all parties.

It is also for this reason that after the Russian Duma announced that it would not implement the requirements of the IMF. Special envoys from various governments gathered in Moscow. Discuss future plans with senior Kremlin officials.

After more than half a month of discussion, all parties finally came to a general idea, because the Russian government had no intention of compromising with the Western world at all, so the final plan was for Western countries to jointly provide Russia with an urgent interest-free loan. It is used to stabilize the management of Russia's military-industrial complex and the daily maintenance of weapons. And in return. The Russian side must strictly monitor the movement of weapons of mass destruction, especially nuclear weapons. It is important not to let these things get out because of social unrest.

After reaching a preliminary agreement, the envoys left Moscow one after another, and they needed to return to report to the decision-making level. And arrange loans, and Moscow began to prepare for possible chaos in the future.

"Jingle Bell ......"

Just after twelve o'clock, on September 2, the phone rang, and after several staff members who had been waiting for a long time looked at each other, one staff member went to the next room to wake up the president, and another older staff member picked up the phone in a hurry.

"Please wait, Mr. President will be there soon!" He held the microphone to his ear, listened for a moment, and then replied in fluent English.

Soon, Yeltsin's figure appeared in the study, he first put on reading glasses, looked at several staff members with blazing eyes, and after seeing that the faces of several people were quite calm, he nodded imperceptibly, and then calmly sat down on the sofa chair in front of the desk, and then took the microphone from the hands of the staff.

As he took the microphone, several of his staff members immediately began to work with a clear division of labor, some specialized in translation, some took out shorthand paper and began to quickly record something on it, while the rest of the staff sat around Yeltsin, discussing something in a whisper.

Although a preliminary agreement has been reached at present, there are many things involved in this secret transaction between countries, and it is not as simple as simply agreeing to it. At present, these aides are providing Yeltsin with advice on how to deal with emergencies, because some variables are likely to occur at this time, and it is their job to evaluate and advise whether these variables should be accepted.

"Hello, Mr. President!" Yeltsin greeted Clinton on the other side of the ocean in English in a hurry, and then changed to Russian, "I wonder what you think about the agreement we reached earlier?" ”

A minute later, Clinton's voice came from the microphone, "Hello, Mr. President." We fully endorse the agreements we have reached. As long as your arsenal is under strict surveillance, we believe that our funds will arrive at any time! ”

"Nope! No! No! Yeltsin hurriedly denied it, "Only if your funds arrive first, will we have enough ability to maintain and monitor these arms." Mr. President, you should also know that if there is not enough salary, it is a question whether my ability to control the Kremlin will be able to do so, and you know that the territory of our Russian Federation is so vast. ”

Although the U.S. side did not put forward unexpected conditions, the presidents of the two sides still had a small competition over the timing of the payment.

Naturally, these have nothing to do with the overall situation, and after grinding their tongues for a long time, the United States finally agreed to allocate this part of the loan to the Russian government in installments, but this part of the loan can only be used to maintain the military industrial complex and the nuclear weapons arsenal, and once it is found that it has been misappropriated elsewhere, the issuance of the loan will stop immediately.

In fact, the loan is not much, including the European side, which adds up to only a few hundred million dollars, but for the current Russian government, this money is tantamount to a send-off.

"By the way, I'm curious. How exactly are you going to deal with the current economic situation? ”

The two leaders who are enough to influence the world, after reaching an agreement, exchanged greetings for a long time, and at this time the call was also coming to an end, at this time, Clinton in the microphone suddenly asked.

Yeltsin, who was unprepared for this question, was stunned for a moment, and then looked at his staff, who quickly exchanged glances, and then began to discuss how to answer quickly, after a full five minutes. The staff members were holding a piece of paper full of answers to the main points. Delivered to Yeltsin.

"It is possible to adopt a deflationary policy to control the flow and stock of money and increase the export ...... of resources."

With the paper in hand, Yeltsin read the sermon from the book. Just something written in a hurry. There is no order at all. Where can he speak clearly and thoroughly?

Originally, all these tasks were carried out by the Federal Chancellor, and the President of Russia was the head of state. has the power to represent Russia in the world, has the power to nominate the country's prime minister, and so on. As the Prime Minister of Russia, he is mainly responsible for government activities.

To be sure, if the "shock therapy" had persisted, Russia today might not be the situation it is now, but because of the incoherence of the executive government, Russia's economy is currently mired in internal and external troubles, and many decisions are chaotic, even to the point of ridiculousness.

For example, before Kiriyenko came to power, the Russian government at that time carried out a large-scale privatization of state-owned enterprises, in which the Russian Unified Power System JSC sold 28% of the shares to foreign capital, but later because of the fall out with the IMF, Russia's State Duma passed a law on the disposal of corporate shares, stipulating that foreign capital is not allowed to own 25% of the shares of Russian companies.

This change of attitude, the depreciation of the ruble, and the economic crisis that spread throughout East Asia, caused capital to lose confidence in Moscow, and the consequence was their withdrawal from Russia. And because of the withdrawal of foreign capital, the problem is the loss of Russia's foreign exchange reserves and the instability of the value of the ruble. In response, the Russian government raised interest rates in the hope of retaining this capital, and at the same time began to borrow heavily abroad to cover previous fiscal deficits.

Naturally, after seeing the huge yields of Russian government bonds and the guarantee of government credit, capital from all over the world has flowed here, and although the credit rating of Russian government bonds has been downgraded by rating agencies again and again, there are still quite a few capitals driven by greed to enter the Russian government bond market like moths to the fire.

Therefore, although Clinton is openly concerned about Russia's economic situation, he is actually asking Yeltsin how he will treat this part of the capital.

Yeltsin, who was not good at the economy, did not notice it, but simply repeated the words of his staff members with a frown, and then there was silence in the microphone for a long time, and finally Clinton sighed and said directly: "Mr. President, I already know what you mean." But what I want to ask is, what are you going to do with those maturing Treasury bonds? ”

In fact, Clinton knew very well in his heart that there was only one way for the Russian government to go without funds to bail out, that is, to default. But he had to hear it personally from the other head of state to be reassured. Like the other party, at this time, he was surrounded by a large number of staff, nervously analyzing every word the other party said, for fear that something would happen.

This time, Yeltsin's aides did not think about it for long, and gave an answer, and only two words were written on a huge blank piece of paper: reorganization.

Yeltsin gave this word to the other party on the other end of the microphone with an expressionless face, and Clinton in the microphone did not say anything more, but sighed slightly, exchanged two more pleasantries, and hung up the phone.

The so-called debt restructuring is essentially a default, because it is not possible to repay the principal and interest of the due treasury bonds, and can only be paid through guò restructuring, and in most restructuring plans, the repayment amount of these debts is only 10% or 20% of the original. Of course, if you don't accept the restructuring plan, it doesn't matter, don't want to pay this 20%, after all, the debtor is the main body of the state.

Prior to this, the Russian government had reached a consensus on this and had informed the president and other key personnel, which is why when Clinton asked this question, Yeltsin answered it almost without much time.

And the world, especially the capital of Wall Street, is still in the dark at this time, unaware that a great catastrophe has quietly befallen them.

……

On September 2, the Russian government officially announced that starting today, the ruble will float freely on the foreign exchange market, and at the same time will postpone the payment of all debts they owe, which, if necessary, will be restructured at some point in the future!

A nuclear bomb exploded on Wall Street! (To be continued......)

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