"What is the situation in Libya now? Are our people and the local tribal forces connected? ”

At the Prime Minister's Mansion at 10 Downing Street, British Prime Minister Stanley Baldwin exhaled a smoke ring and asked Joseph Austin Chamberlain, who is now Great Britain's foreign secretary.

In the turmoil two years ago, due to the loss of points between the Conservative Party and the Liberal Party on economic issues, the two traditional powers lost the prime ministership for the first time, allowing the leader of the Labour Party, Ramsay MacDonald, to obtain the right to form a government, and became the prime minister for 10 months, although it was not a long time, but this was the first time in history, since then the Labour Party has replaced the Liberal Party as the second largest political force in British politics, but it has not been able to shake the position of the Conservative Party, but the power of the Liberal Party has been sharply suppressed.

It is obviously irresponsible to dwell on the individual talents of the leaders to lead to the rise and fall of political parties, but in fact, in the final analysis, it is the power of the state: it is precisely because after the First World War that Great Britain lost its ability to command the masses and began to become conservative and closed, it seems a little pedantic to always adhere to the concept of free competition, the British government has not tried to continue to maintain free trade, continue to improve the status of the pound, continue to adhere to the gold standard, but in addition to allowing American goods from across the ocean to pour in, Even the decline of the domestic economy and the high unemployment rate could not maintain the gold standard that they wanted to maintain, so that speculative capitalists from all walks of life swept away a lot of money - among them, Contini and the United Group were also indispensable.

Although the United Group actually didn't make much money, it was nothing more than a lively rush together, and even Contini himself didn't feel it, because it was Leo who took advantage of the U-turn business he did during his visit to the United States, and one guy ate more than 700,000 pounds of exchange differences, and played a beautiful blitzkrieg, which is very beautiful in terms of operational strength. But the British were annoyed and angry when they found out about it - the Americans, the French, and the Jews used finance to engage in speculation, and now even the Italians dare to press it? It really doesn't make sense.

The second thing that the financial community is uncomfortable with is the United Group's meddling in the financial market, and there are two accounts to be counted here: the first is the operation of the Union Bank to acquire many small and medium-sized Italian banks, which has moved the cheese of the British banking community.

Originally, the Italian banking industry was small, so if the import and export business involved the balance of payments all through foreign banks, Swiss banks are not strong in this regard, strong are British or French banks, out of traditional cooperative relations, Italian banks are basically through British banks, especially the three major banks, but after the establishment of the United Bank, all of a sudden put aside the British banking community, directly related to Wall Street, from pro-British to pro-American, the British suddenly lost hundreds of thousands of pounds a year in fee income, not to mention, Union Bank has also opened its own branch in the United States, and has taken advantage of the industrial advantages of the Union Group to allow other small and medium-sized Italian banks that have not been included in the system to follow the channel of Union Bank.

The reason why Wall Street is so interested in the United Group is because they find that Contini is completely different from the traditional Italian politicians, not close to Britain and France, but close to the United States - pro-American in economy and finance, and pro-German in technology, industry, and talent, which allows American industry to open up relations with Italy and radiate to Central Europe.

The second account is the issue of high-interest savings on loans to the United States and Italian banks. Contini has applied for nearly $400 million in loans from the United States, and is preparing to issue another $100 million in corporate bonds, even at 5% interest, which would be $25 million a year – the equivalent of two good battleships, and if inertia, these loans should go to Great Britain.

As for why he didn't borrow from the British, Contini spread his hands: why should the British borrow if the conditions for borrowing are not less than 6%? But the British don't see it that way, they think that the United Group buys a lot in the United States, so the Wall Street tycoons are willing to issue loans at a low interest rate of 5% or even 4.8%, and if the United Group transfers these orders to the United Kingdom, it is guaranteed to give an interest rate of 5% or even less. The problem is that Contini could not look down on the expensive and poor industrial tatters in Britain, but he took a fancy to the company's industrial and technological patents of the Rolls-Royce company, but the arrogant Britons refused to sell them, and in the end they could only force the United Group to use the Rolls-Royce engine to engage in "independent innovation" after surveying and mapping with German engineers, and this was a major source of contradictions.

If Great Britain still thinks highly of its free trade ideas, perhaps these gentlemen will laugh at where the United Group borrows money, but now that Great Britain has also begun to trade protection, of course, this interest of the United Group cannot be let go.

The 3.75% interest rate is just an increase of 0.5% for the Italians, but for countries such as Britain and France, where the deposit interest rate generally hovers around 2%, 3.75% is almost equivalent to a doubling, which immediately siphons a large amount of money over - the French have little opinion on this, anyway, it is the first time to lend, and it is best for Italians to be willing to pay high interest rates, and the British government generally feels intolerable.

Raising interest rates in your own country? That will tighten the monetary system, exacerbate economic turmoil, increase the interest expenses of government debt, but not raise interest rates, but also will outflow funds and trigger social contraction - in the original historical time and space, there was no Contini, a group that attracted $500 million, and the Americans would happily issue loans to Britain, and now the Italians are lending money to the United States to buy things for domestic construction, and the other is the British borrowing to enhance Britain's industrial strength and try to compete with the United States, and the Americans are of course willing to choose the former - the same is to make money. Why do you want to block yourself?

In Contini's words, the United Group is the engine of this trend: in order to match the United Group, the loans for upstream and downstream industrial units have also reached more than 200 million US dollars, and at the same time, because many goods of the United Group are ordered from Germany, which has allowed Germany to achieve a rapid inflow of funds after the Dawes plan. Contini himself did not know that because of his massive borrowing, which had caused a change in the flow of nearly $1 billion in international funds in two years, and caused unease among Britons.

The British did not want to make up for it, on the Corfu issue, they pressed Greece to make concessions in order to further close relations with Italy, but they did not expect the Italians to eat the benefits, but the follow-up return was not willing to give Great Britain, and even stabbed themselves in the back.

That knife is the oil problem.