"Your Majesty, the London stock market crash has erupted!" Kennedy gloated

He has the ability to gloat, even if the world's stock market jumps, it has nothing to do with Bulgaria.

"Let's talk about the details!" Ferdinand said with a slight smile

Although he had known these things for a long time, many words were not suitable for him to say in person, otherwise how could the role of these ministers be reflected?

A king who competes with his courtiers for the opportunity to perform is not destined to be a successful king!

On August 18, the London government announced a factory relocation order, ordering more than 100 factories to stop production within three months and relocate within six months.

On August 21, the London stock market opened and the stock prices of these companies began to fall sharply.

On 22 August, the London stock market continued to fall, with a small rally in the middle, but it was quickly drowned out by more flips.

Judging from the current situation, the stock market in London will continue to fall, and the two major financial markets of Paris and Vienna will soon be involved. Kennedy gloated

Everyone is happy, watching others unlucky, always able to find a sense of accomplishment, especially competitors!

The greater the impact of the stock market crash, the more beneficial it will be for Bulgaria, and at this time they will not fall into the ground, they are all good, how can they be worried?

"What about the countries of the Americas? Especially in the three North American countries, their economies are connected to the British Isles, what kind of impact will it have? Ferdinand asked with concern

"The North American stock market, affected by the London stock market crash, fell slightly yesterday, but finally stabilized by the end of the day.

But as long as London's stock market continues to fall, global financial markets will be affected, and they will not be immune! Kennedy said after a moment's thought

"Prepare to launch Plan A and add a fire to this stock market crash!" Ferdinand said lightly

……

While Bulgaria was preparing to fall into the ground, there was a fierce quarrel within Britain over whether to bail out the city.

Although Prime Minister Macdonald successfully persuaded George V to support his bailout plan at great cost, it is not up to the government and one or two consortiums to save the city, unless the consortium is willing to blow up the liver!

Obviously, this is impossible, even if the royal consortium agrees to save the market, it is impossible to do its best, and it is impossible for the major shareholders behind the scenes to start playing for the benefit of the British government.

Unless we can persuade most of the British consortiums to join forces, even if they do not participate, they will not be able to short, otherwise there is no way to talk about bailing out the market.

"Your Excellency Prime Minister, the appetite of the consortium is too great, I'm afraid we can't satisfy it!" Chancellor of the Exchequer Pitt said with a frown

"What do they want?" MacDonald asked, confused

"The consortium wants us to sign a Special Industries Protection Act, which includes industries such as banking, petroleum, electricity, and minerals.

If this bill passes, then the future British Empire will be the stronghold of the trust group, and no one or political party can shake their position! Pete said with a wry smile

MacDonald gasped, he didn't need to look at the specific content, he knew that this was a bill concocted by major conglomerates in order to monopolize their respective fields.

Once such a bill is signed, they will wait for the stench to last for 10,000 years!

Of course, they are not so pessimistic, if they are willing to continue to work with the consortium, he can also become one of the greatest prime ministers in British history.

If you want to whitewash a person, the British consortium still has the ability.

Although the British government is much stronger and can suppress the conglomerates most of the time, it has not been able to stop them from growing in strength.

"What are the consequences if we refuse?" MacDonald asked with concern

"The consequences are very serious, and now the media in London are already attacking us for not understanding the economy, and if the situation continues to deteriorate, we may be ousted by the angry people!" Pete thought for a moment and said

"So, we don't have a choice now, do we?" MacDonald said with a frown

"Yes, Your Excellency Prime Minister! As it stands, if the stock market cannot be saved, then a financial crisis is imminent, and there is already a run on the streets of London.

If we don't take action, we're in big trouble! Chancellor of the Exchequer Pitt replied with a wry smile

"Well, if Congress can pass it, I'll sign it, and we don't need to come forward to make a proposal, right?" MacDonald said helplessly

"Of course not, with their influence, there is no problem at all in passing a bill in Congress!" Pete said with a shrug

In order to pass a bill in the United Kingdom, in addition to passing it in Parliament, it needs to be signed by the Prime Minister, and of course, the King can also sign it.

In line with the choice of persimmon to find a soft pinch, everyone chose MacDonald without hesitation, anyway, his term as prime minister is limited, he has survived the current crisis, and there are still so many years, but the crisis will soon step down.

There is no ability to retaliate, and there is no dare to retaliate against the consortium. Although MacDonald is the leader of the Labour Party, everyone knows that the Labour Party has long been infiltrated by the capitalists.

In the capitalist world, political parties are actually vassals of the capitalists, including the MPs, who are promoted by the capitalists.

Without the support of the capitalists, where will the campaign money come from? Without money, there is no advertising, and it is estimated that many voters do not know that you exist, who will vote for you?

On August 24, 1929, the British Parliament passed the Special Industries Protection Act with lightning speed, and from then on, these monopolies could enjoy more preferential taxes and more privileges.

On August 25, the British government and five major consortiums announced a £200 million bailout, and the London stock market rebounded, closing the day up 0.5%.

When the dawn was shining and everyone was celebrating, a thunderbolt came again.

It was already negotiated that the nine countries would share the debts left over from the Russian Empire, and now they are overdue again!

From 1927, when the Russian Empire was officially divided, the governments of the nine countries never paid a single penny.

Now the government of Western Russia has announced that thirty-six percent of the debt should be paid this year, and there is no way to leave the debt, and they really can't afford to pay it now.

The government of East Russia announced the payment of a third of the debt, and the rest was also overdue.

The remaining three countries of Finland, Belarus, and the Baltic Sea also announced that they would pay 15 to 40 percent of their debts, and that they would have no money to pay the rest.

The Polish government has not yet given a result because of internal contradictions, but it seems that they are not rich masters and cannot be counted on.

The Russian government was even more ruthless and directly declared financial bankruptcy, so there was no big son, and now it was going to be repaid.

As early as 1918, the Russian government did not have the concept of money, and instead there were various bills, which were circulated on the market.

Later they also issued new rubles, which, unfortunately, could not be bought without bills in the USSR, how could this be recognized by the international market?

In July of this year, the Russian government made a request to the League of Nations that they should repay their debts in new rubles, but in the end, naturally, it was not approved.

Now, in addition to using gold to pay off debts, it seems that they can only export some minerals to Japan, and due to transportation restrictions, the export of resources is also a drop in the bucket.

How can the poor foreign exchange reserves, and the few golds they use to buy industrial equipment, be used to pay off debts?

On August 28, the London stock market began to fall sharply as soon as it opened, and at this time, half of the 200 million pounds of bailout funds had been smashed.

Not only London, but also the stock markets of Europe and the United States have begun to fall, and it is no longer possible to solve the problem by bailing out the market.

A wave has not settled, and another wave has risen.

After the nine countries defaulted on their debts, the new Greek kingdom, which had little presence, followed suit and declared financial bankruptcy on the morning of August 29.

This is the Nth bankruptcy of the Greek government, and the third bankruptcy during George I's reign.

Although the Greek government does not have much debt, at this time, the financial markets are already very fragile, and any slightest disturbance could cause a turmoil.

This time was no exception, as European banks that had taken on Greek loans were run on and then spread to other banks, and a financial crisis was on the verge of erupting.

On September 1, a humble news story in the street tabloids of London once again detonated the stock market.

The content is very ordinary, without any appalling headlines, and the theme is "The Burning Rubber Plantation", and the article criticizes the brutality of the rebels for the malicious destruction of the rubber plantation.

There are pictures and truths, this very ordinary news, quickly fermented, and then rubber stocks collapsed across the board, becoming the first industry to collapse in the stock market crash.

Under the chain reaction, it soon also affected the downstream industries, and the automobile manufacturing industry and plastic processing enterprises were affected.

One industry is implicated in another industry, as long as it can be touched, none of them can run away, and under the chain reaction, all industries have been affected.

By the end of September, the broader London stock market had fallen from its peak of 1,285 points to 156 points, but this was far from the lowest point.

It seems that the current stock market in London is only unexpected, nothing can be done, and all industries are falling all the way.

By this time, the stock market had already spread to the banking sector, and in just one month, more than 80 banks in London had gone bankrupt, and the run crisis was in full swing.

The banking industry is too busy to take care of itself, the real industry is full of wailing, the capital chain is broken, factories are forced to close their doors, and the streets and alleys are full of unemployed people.

This was the worst economic crisis in Britain's history, with more than 3 million unemployed people in London and an unemployment rate of 58 percent.

Robbery, murder, rape, and all kinds of crimes were staged in the streets of the city, and the MacDonald government was forced to mobilize troops into the city to maintain law and order.

Obviously, this economic crisis has affected not only London, but also the British Isles.

Over time, it is spreading to all parts of the world, and the first to be affected are the three North American countries.

Because of the closest economic ties with the United Kingdom, it was also the first to be affected, and the scene that happened in London was also staged in the three North American countries.

First came the stock market crash, then the bank run, and then the prelude to bankruptcies.

Because of overcapacity, the goods produced by the enterprise cannot find a market, and can only be disposed of as garbage in the end.

There is no way, strong enterprises will start to lay off employees and reduce production, and weak enterprises will have to declare bankruptcy.

As a result of layoffs and bankruptcies in companies, a large number of unemployed people appeared, fewer and fewer people had purchasing power, and the market was shrinking.

The daily contraction is once again fed back to enterprises, which continue to lay off employees, reduce production or close their doors, and the number of unemployed people continues to increase.

The vicious circle began, which further exacerbated the spread of the economic crisis, and no one in the capitalist world wanted to be left alone.

The British economy fell, followed by France, separated by a strait, and the French economy and the British economy had long been connected.

In less than a week after the collapse of the London stock market, the stock market in Paris followed suit, and the wave of bankruptcies and unemployment brought the booming economy of the French Republic back to its original shape.

As is customary, at this time, the French government is about to start changing the cabinet again, and in fact the French people have already begun to act, and they are fighting against the incompetent government.

Vienna, the financial center of Eastern Europe, was not able to stand alone, and at this time it also followed in the footsteps of Paris, and the stock market collapsed across the board.

Dealing a blow to this multi-ethnic country that is in the process of ethnic integration, the poor economic situation has once again stimulated suppressed domestic contradictions.

……