The faces of everyone in the audience have changed: now the total market value of the entire U.S. stock market can exceed 70 billion US dollars, and another 90 billion? Who can catch it? Who will pick it up? Don't say that 90 billion can't be catched, another 9 billion is enough. Of course, the president is just making an analogy, Italian heavy industry cannot all be listed in the United States, but this analogy is too scary, because the heavy industry in the United States is 5-6 times that of Italy, if 90 billion can't catch it, then what about 5 or 6 90 billion? Italian heavy industry can be listed in Italy, the United Kingdom or the United States, and where can American heavy industry go if it is not listed in the United States? If the heavy industry can't catch up, what about the light industry that doubles?

Lose your marbles!

"Don't think I'm alarmist, not long ago a couple of investment banks issued $100 million in bonds for a Brazilian state government, the name of which I bet 99.9 percent of the American people have not heard of, 95 percent of Americans don't know where Rio de Janeiro is, I asked people to look into the state's finances. In the 73 years since the founding of the state, 72 years have been the state fiscal loss, 68 have been serious losses when the deficit exceeds 10% of the fiscal revenue of the year, there have been 47 debt defaults, and 36 debt restructuring ...... Even such a notoriously rotten system is quietly packaged by our investment banking community as promising, well-developed, and with a prudent financial record...... The reason why this bubble has not burst is because everyone believes that someone will come to take their plate - the United States is so big, there is no shortage of pick-up man, everyone does not believe that they are the last stick, and think that they will be able to sit back in their seats before the dance music stops, but I will say that if suddenly the situation reverses and these stocks become unwanted, then there is only one outcome for the market......" Contini grabbed his cup and slammed it on the ground, following the sound of the debris cracking, saying clear and earth-shattering words, " It's like this cup - destruction! ”

After the word was spoken, everyone was stunned, and the scene was so quiet that it was as if a needle had fallen and could be heard, until Contini bowed slightly and walked off the stage, and everyone woke up like a dream and began to applaud, at this time there were still 24 minutes before the stock market closed, and many were reminiscing about what Contini had just said, only a few particularly clever guys ran out at a speed of 100 meters, frantically looking for a phone to call their brokers: "Throw my stock out...... Price? Regardless of the price, the market price is on the line, the market price! ”

Many reporters also rushed out to publish the article, and the topic of the manuscript did not need to be chosen - "Destruction! 》

Just as the moderator was about to comment on Contini's speech and ask a few questions, a voice came from outside: "President Hoover called from the White House and asked President Ziano to take the time to answer it anyway." ”

Contini was stunned, Hoover had called here? What is this for?

The rest of the crowd is also reminiscing about this sentence, what is the great deal about the president, and he should find the president now? If you look closely, there seem to be a few people missing, where have these people gone.

Contini smiled at everyone: "Don't accompany you, I'll take the phone." ”

The host simply stopped and said to the venue: "Let's wait for the president to come back and then continue to talk about the topic just now, you might as well guess what the president wants to talk to the president?" I have found that the President and the President share many points of view, but His Excellency the President is not able to express his views as directly as the President because of his special status, and he must take into account the ...... of the majority."

Everyone agreed, and indeed in retrospect, Contini had warned many times about dangerous policies and the stock market, but only today did he say the word "destruction", and Hoover also said on different occasions that he should "pay attention to the prevention of risks", but how to prevent it is always vague......

"Calais, I'm sorry to pull you out of the summit forum, I have an important matter to communicate with you......" Hoover lowered his posture, "I heard about the transfer of positions by Union Bank to Europe, and now those idiots of the Federal Reserve are clenching their bites, as a former business person, I understand your thoughts and pain, and sympathize with you, but can you please take your position back appropriately for the sake of my face...... You know, the market is very sensitive right now, and if there is a stir, there will be a chain crisis, and I can't let that prediction come true! ”

Contini simply rejected Hoover's words: "Your Excellency, I'm sorry that this matter has bothered you, in fact, I don't want this to happen, this is completely some normal business dealings, and there is no need to make a storm in the city." ”

"Yes, yes, I understand, I understand...... You see, do you show a little gesture, transfer 300 million or 500 million funds back, first give an explanation to the Federal Reserve, and then we will think about it in the long run...... I know that you have the goal of building an Italian industrial system in 10 years, but it is too risky to put all the pressure on Union Bank, you first get some money back, everyone can get by on face, and then I will coordinate and let other big banks in the United States continue to lend to Union Group, so that the risk can be diversified. ”

"Since you say so, then I can only do it......"

"Thank you very much, thank you very much...... Hoover said, "Why don't you come to Washington again tomorrow and we sit down and talk?" There must be some misunderstanding here. ”

"Okay, okay, I'll ...... tomorrow," Contini said, glancing at Aquilani behind him, who understood, and immediately said a long series in a breathless tone, so emotional and loud that even if Hoover didn't know Italian, he could tell that it wasn't a good thing, and asked suspiciously, "Calais, what happened?" ”

"That's it, my secretary came to report that I wasn't at Union Bank in the afternoon, and the Fed bureaucrats threatened Francisco, oh, the head office of Union Bank, that if we didn't withdraw the funds back, they would issue a statement accusing us of operating risks, telling depositors to pay attention to self-protection, and the subtext was to lead the run."

Hoover was a little angry: "Did they make a statement?" ”

"Not yet, but the statement is said to have been drafted, and what is worse is that this unpublished statement has been made known to the outside world...... Three minutes ago, there were countless phone calls to Union Bank to verify this, and I'm sorry, I have to hold a press conference today to respond to speculation, so I can't come to Washington tomorrow......"

"These idiots!" While Hoover scolded the Federal Reserve, he continued to reassure Contini on the phone, "Then you have a reception first, it's better to tell the press what you just said, I will continue to communicate with the Fed, and I can't put any more pressure, they will just make a mess of things!" ”

"Your Excellency President, I assure you that the United Group, as a world-famous large multinational consortium, will definitely be responsible for this matter to the end!"

After saying this, the two sides politely hung up the phone, and as soon as the angry Hoover put down the phone, he went to Mellon to settle accounts, and the latter was also inexplicable, and he clearly warned the Federal Reserve that it was okay to retreat, not to make a mess, what the hell is wrong with this?

This afternoon, a reporter went to the headquarters of the United Bank to do business, and when he saw the scene of heavy security and loaded guns, as well as the actions of the Federal Reserve personnel, he was very curious to find out, and it turned out that he was familiar with the members of the Federal Reserve who came to investigate, and he took out the inside story by dividing it by two in three strokes and five times -- what had not yet been published by the official film, the people below had already spread it all over.

The reporter quickly made up the picture in his mind: The United Bank crisis, the armed confrontation between the two sides, the Federal Reserve insisted on checking the accounts, and now it is suddenly in a hurry to withdraw troops and find out that there is a problem...... Oh, my God! Union Bank is going to be finished!

Just as Contini slowly returned to the venue, Livermore came up and whispered: "In accordance with the requirements of the plan, today Union Bank reduced its stake by 200 million US dollars, and then combined with your devastating speech just now, the stock market fell from 0.2% to 0.8% in the closing stage, and the trading volume was magnified by 5 times." ”

"Very good, the big time has finally come!" Contini grinned and patted Livermore on the shoulder, "Remember what I said, You-jump-then-I-jump!" It's not the same now, it's You-jump-then-I-don't-jump! Hahahaha! ”

Livermore smiled and nodded: he had tried his best to open a short position of 300 million, and he had made more than $3 million today, and if the market continued to fall, his fortune would soon be a few more zeros.

After explaining Aquilani's arrangement of the press conference, Contini, who returned to the summit forum, was warmly invited by the host to continue his speech, and asked: "If it is convenient, can you reveal the phone call that the president just gave you?" I don't think it's a personal matter to be in such a hurry. ”

The host also said this casually, but I didn't expect Contini to really be willing to say it.

"Okay, gladly." Contini took the microphone, "As we all know, because of my harsh criticism of the Federal Reserve for some time, these bureaucrats hate me to the core, and do everything they can to damage my reputation, discredit my image, and even use all kinds of insidious tricks to interfere with and sabotage our normal operations." A few days ago they suddenly said that they would check the accounts, and today they threatened me again, saying that the funds of the Union Bank could not be lent freely, that they had to stay in the United States, and that if I did not do so, they would issue a warning statement on the grounds that the risks were huge. In fact, the warning is false, and it is true to form a run on me and put pressure on me, because if one is not careful, the United Bank will go bankrupt, and then it will cause a chain effect and implicate other United Group industries, and then my reputation and industry will be completely destroyed - this is their trick to use their power against me! ”

There was an uproar in the audience.

"Everyone understands that the United States is a free country, and if a bank can't decide how to operate and how to lend, then what freedom is there? If capital cannot flow freely, how to achieve the optimal allocation of assets, and how to play the function of value discovery? How to make a reasonable profit? Contini was furious, "What the Fed is doing is frantically trampling on the most basic market principles and value system, and really digging into the cornerstone of America's liberal democracy, I think, this kind of moral and political risk is a hundred times worse than those illusory business risks, right?" ”