PS: The 200th monthly pass in January will be updated with ......

Contini's visit was replaced by the Andrea Doria as the core formation, and the naval officers and diplomatic attachés were also replaced - to give everyone the opportunity to take turns to go abroad to open their eyes! With the financial support of the United Group, the Italian Navy and the Ministry of Foreign Affairs are now rich in money, and a large circle of people accompany them abroad at every turn, which not only highlights the identity of Contini, but also makes the personnel very happy - everyone knows that the president is still very generous to the people below, and the personnel who went to the inspection last time did not all get gifts and benefits?

The idea is why doesn't the president go abroad every day? Then you can wave outside every day......

In February, the stock market showed a pattern of two steps forward and three steps back, and the performance of individual stocks began to diverge, this month Contini did not reduce his holdings of stocks, and the amount of his holdings was basically only used to repay loans and interest, and now the leverage ratio of the United Group has fallen, which is a good thing for the US financial system, and the banking community is generally relieved.

The Fed is finally in a better mood, as they have withdrawn $600 million through gold – $500 million of which was submitted by Union Bank. The reason for the Union Bank is simple, the Union Bank is expanding dramatically within the Italian credit system and needs more gold to support the lira, this excuse is very official and economic, and the Federal Reserve, which has been suffering from the difficulty of repatriating funds but has a surplus of gold, is also relieved, the problem is that they do not take into account the possibility that the gold will not come back in Italy in the end.

On March 1, Contini's fleet arrived in New York, and this time he was greeted with enthusiasm, and Henry Lewis Stimson, who had been nominated by President Hoover and was appointed Secretary of State, personally greeted Contini at the docks. In fact, Hoover wanted to come on his own, but after all, he was about to become president, and it would be a loss of status to welcome a diplomatic envoy with the dignity of a president, so he could only use the highest standard and use Stimson to welcome him on his behalf.

Stimson and Contini were unfamiliar with each other, and they were about to go to Washington after a courtesy visit, but the sharp-eyed reporter spotted the attaché behind Contini - a radiant beauty, but not Ada, nor the president's life secretary they had ever seen.

"This is Adriana, the famous host of the IBC, who hosts the two programs "Roman Times" and "Hello, Italy", and is a famous Italian presenter......"

"Roman Times" is generally broadcast at 7-8 o'clock in the evening prime time, used to comment on the important news of the day, and "Hello, Italy" is generally broadcast at 10-11 o'clock in the morning, used to interview Italian celebrities, military, political, business, academic, scientists, entertainment and other well-known people are proud to be able to show their faces in this column, in the words of the audience, you can often hear Miss Adriana's sharp, funny, witty interviews and comments, Italians may not know who the director of IBC is, But as long as you listen to the radio, no one doesn't know who Adriana is.

"I have made careful preparations for my visit with the president, and the IBC has prepared a full set of interview recording equipment, ready to introduce what we have seen and heard in the United States, the grand occasion of President Hoover's inauguration, and the modern era of the United States to the Italian people." In the face of the rush of reporters, Adriana did not frighten the stage, and talked eloquently, "I really want to interview President Hoover, ask him to talk about his understanding and views on the bright prospects of the United States in the next four years, and listen to his governance philosophy and governing ideas, the president has repeatedly said to the Italian people that the economic and trade exchanges between Italy and the United States have developed so closely that the economies of the two countries have gradually integrated into a whole, and the industrial facilities and advanced technology of the United States can be seen everywhere in Italy, and the United States has also welcomed Italy's motorcycles with open arms, all kinds of fashion brands and Roman culture, he wants America to be good, Italy is good, and he doesn't want America to sneeze and Italy to catch a cold......"

Italy is the largest exporter of large industrial equipment and other technical industrial products (such as automobiles), and the United States is Italy's second-largest exporter of motorcycles, multi-wave and fashion products, as well as ships (this is mainly a fictitious shipbuilding order and a trick to take dollars from the United States).

There is also a lot of cooperation between the two sides in other fields, General Motors and United Group have set up joint venture automobile companies, US Radio and United Telecommunications are strategic partnerships, the four major oil giants of the United States have contracted most of the exploration tasks of United Petroleum, and the United States is the second country to follow up on the investment in the Shenzhen Special Economic Zone -- American capitalists have won contracts for the construction of a series of basic public facilities such as water plants and power stations.

What's more, the best Italian conglomerates are currently listed in the United States and are closely related to investors.

Of course, this is just a high-sounding reason, and the real intention is only known to a very few people - Adriana is to accompany Contini out to play, because Vivian, Ida and even Monica have all been to the United States, but Adriana has not been here, and a bowl of water is the truth; The second is because Adriana spent the least time with Contini because she had a child the year before last, and this should be compensated, so everyone agreed to be accompanied by Adriana, and the reason is still not easy to find?

On the ship, Adriana's room and Contini's room are next to each other, and every night she slips by, how can this "moisture" not be glorious? The only regret is that I can't buy and buy this time, not because Contini won't give money, but because of the special situation, even if Adriana has money, she can't be so exposed. But she doesn't care about this at all, because she has everything that should be bought, and no matter who else comes out, she will not be less shared, and as for what she likes individually, just pick a little. Besides, with the president of the moving gold mountain, are you afraid that there will be no opportunity to buy and buy in the future?

Hoover gave a warm welcome to Contini's arrival and met Adriana's individual interview requests, in the course of the interview, in addition to expounding his own policy ideas, Hoover talked about the United States and Italy, Adriana also touted Hoover as the main architect of the Coolidge boom, and Italy also benefited from this round of prosperity - anyway, Contini explained, as much as possible to praise Hoover, and at the same time expressed concern about the current policy of the Federal Reserve.

So Adriana also asked a tricky question: "At present, most observers believe that the stock market is overheated, and the Federal Reserve is trying to raise lending rates to curb the inflow of funds into the stock market, but this high interest rate has also hurt the real economy. ”

Hoover himself is also troubled by this matter, of course he knows that the stock market speculation is too hot and needs to be controlled, but he does not agree with the Fed's current simple and crude containment, just hope to be gradual and gradual, but this contradiction can not be directly displayed in front of everyone, so after thinking about it, he said: "Economic prosperity and social stability are the main responsibilities of the government, and they are also the starting point of the Fed's relevant policy formulation and implementation, but any policy has a lag effect, and I hope we can maintain a more rhythm, stability and consistency...... You can observe the effect a little before moving forward. ”

This is tactfully criticizing the pace too fast, Adriana found out the bottom line and Hoover's current thinking, and then told the news to the president, Contini thought about it, but he was not slow to move, and took advantage of Hoover's inauguration to throw out nearly $300 million in shares.

In order to make the market have the ability to undertake, he has recently visited various large American companies: negotiated with Harley-Davidson Motorcycles about the cooperation in the production of motorcycles - in fact, Contini knows that although United Motorcycles has a large number of orders scheduled, as long as the big crisis comes, there will be no follow-up, so the cooperation is destined to be virtual; Negotiated with Ford Motor to go to Italy to establish the Ford United Motor Company for the production of Lincoln brand sedans - the problem is that Lincoln itself does not have any excellent luxury cars, and it is not as good as the United Group's own admiral; negotiated with Carnegie Steel to set up a steel plant in Shenzhen; Discussions with Chevron to build a refinery in Libya...... These hollow dumplings have effectively prevented the market from shrinking across the board and are still hot.

Mr. Contini continued to pull back from it, and by late March, his holdings had finally fallen below $1 billion for the first time, and Union Bank had publicly held $300 million in shares to hedge its risk — some way from the $500 million pledge at the time.

By the end of March, the stock market speculation fever was finally controlled, but the shortage of funds began to emerge, because the Fed's new policy made the short-term demand loan interest rate continue to rise, and the call rate soared from 12%, 15%, and 17%, and on March 26, the Fed even announced that the overnight lending rate even reached 20%! The rate was the highest in the 10 years after the war. The stock market traded a record high of 8.25 million shares on the day. The mailboxes of small and medium-sized shareholders are crammed with margin call letters, and some believe that the big bull market has finally come to an end.

Hoover was furious at the decision, which was clearly too quick and too heavy, but the Fed, as an independent department, ignored Hoover's criticism, which made him half angry.

While the small shareholders are desperate, the bankers are not willing to sit idly by – now is the time to lend, and what a coveted figure of 20%!

Citibank President Charles Mitchell thought that the banking community should unite to resist the Fed's artificial interference and puncture the bubble, and finally bankers gathered to discuss how to save the precarious stock market, and Union Bank was also invited to participate......