The crazy falling stock market shook everyone, and the American citizens who got the news were anxiously handling withdrawals in front of various branches of major banks, of course, other places were for margin replenishment, and Union Bank was for a run - many white-collar workers only saw yesterday's Fed statement after going to work, and they couldn't leave in the morning, and only at noon did they give up their illusions and queue up for the same time. They are all knowledgeable, and they know that even if Union Bank really has no problems, it will have to fall in the face of such a run on the pressure, and now it is just a strong hold.

The people who came when the door opened were no match for those who queued up in advance, and they arrived 2 or even 3 hours in advance to withdraw money. Although the president's reputation is well-known in the United States, the Federal Reserve is an official institution after all, and everyone still has a certain blind faith in the government's words, so they rush to withdraw money - it's a big deal to deposit again. And those who came at noon may not be able to take turns in the afternoon, and when they were frustrated, they suddenly remembered that the Union Bank said that it was open 24 hours, and everyone thought it was barely acceptable.

Fortunately, although there were many people in the morning at Union Bank, everyone withdrew their money, and everyone didn't say anything, and everyone went back to tell each other, and those with more deposits lined up in the second round with a sigh of mourning - although some protested that this was unfair, but most people didn't save more than $1,000 (which is usually more than a year's salary), so there was no support for them.

The most people who come to withdraw money are the headquarters - many people think that since the president is in charge of it, it should be easier to withdraw money, so looking down from the upper floor, the black pressure is full of people, and the hall that used to look spacious and bright is crowded with queues, and even the entire street is surrounded by this kind of long queue, and it goes around 3 times inside and out.

The employees of the Blackwater Security Company are very experienced, and they have pulled up a barrier around the perimeter, using the folding method to accommodate as many people as possible, so that the whole scene is as orderly as possible, in fact, the fundamental reason why the scene is not out of control is not the high quality of the American people, but the people who queued up in front of them to withdraw money have all received money, which leaves a glimmer of hope and comfort to the small citizens, who pray that bad luck will not befall them.

"Don't be in a hurry, don't be crowded, as long as you line up, you must be able to get money......" The security guards used their tin horns to maintain order hoarsely, and Contini and Francisco watched the movement of the hall in the corridor upstairs, with a faint sense of joy - how can no one create an atmosphere of panic? The Fed's divine assist gave Contini a unique opportunity, and if it weren't, there would be a reason for the shorting and detonation – who knows if it will happen exactly like the trajectory of history.

"Is this the queue at all outlets?"

"Yes! There are more and more people, many people have no idea of running at first, they are reminded by the long queue, and then the deposit is also a big problem, because we suspend all other services, so they can only withdraw money and use the check to go to the brokerage to make up, many people don't trust the check, as long as the cash ......"

"Is there enough cash?" "We have to create an atmosphere, but we can't make it happen, and we still have to let the honest customers get their money – sooner or later," Contini advised. ”

"That's fine!"

"Very good, continue to let them line up, and then announce it in half an hour, work 24 hours a day today, don't worry." Contini smiled, "Ordinary people should still be guaranteed to withdraw some money, 1,000 dollars is enough for most people, after a large number of banks fail in the future, the public will find that we are the most reliable and indestructible, which is of immeasurable value to Union Bank in the future." ”

"But what about the institution's money? A lot of people called and asked for a large amount of money to be withdrawn in advance. ”

"No, we have to treat everyone equally, otherwise it's not democrat......ic," Contini smiled, "customers have to queue up regardless of size, and if they don't want to queue, I'll tell them their names and see if they can afford it?" ”

Francisco smiled slightly: "I understand, they can be smart and have a few more people at a time, and the bank does not limit the number of withdrawals in a day, 10 people can withdraw 10,000, 100 people can withdraw 100,000, we have 48 outlets, 304 windows...... Take a few more rounds and you'll definitely take it. ”

Contini laughed: "Yes, that's the way it goes. ”

"What about the banks that we borrow money from?" Francisco said cautiously, "The Fed still has $600 million in discounts, and I'm afraid ......."

"Everything is done according to the contract, and it will be a few days if it is said that it will be a few days, and you can't go back." Contini explained, "You don't need to go through the withdrawal process to borrow money, you can pay it as long as the time comes, but you have to wait for the time to arrive, not a day in advance - because there is time for shorting!" ”

"President, your call is from Citibank."

"Mr. Mitchell is looking for me?" Francisco said, "I'm very busy and messy here......"

"I know you're under siege, do you want our help? The interest rate is only 25%. ”

"Thanks, not yet." Francisco scolded this bastard who took advantage of the fire in his heart, but his mouth was casual, "We can still handle it, how are you there?" I heard that the stock price fell sharply in the morning. ”

"Fortunately, there are a few liquidated positions, they have all been cleaned up, and other dangerous customers have issued a margin call notice, see if it can be stabilized in the afternoon, if it can be stabilized, we will pull it first, the washing is understandable, but it can't fall too much."

"Then I'll be busy first......"

After Mitchell put down the phone, someone next to him asked him, "How's the Union Bank doing?" Will they be able to hold it down? ”

"It's going to be fine, it's only half a day." Mitchell shrugged, "Even these tens of millions can't be stabilized, and Union Bank is too weak." I'm looking at their share price right now, which fell by up to 30% in the morning? ”

"Yes, 29.7%, only one step away from the stock price, but the buying here is relatively strong, it is difficult to break down for the time being, if it falls, I am afraid there will be a wave of panic orders pouring out."

Mitchell nodded: "The boss really wants to buy the shares of Union Bank?" ”

"If you collect a little bit, I'm afraid it will be impossible to hold a ...... He wanted to negotiate a deal with little Chiano, and I heard that in addition to Bailang Duoxi, Xiaoziano had a lot of good things in his hands, and the boss was very interested, at least the motorcycle and Bailang Duoxi must be brought over. ”

"Then I understand, wait a few days to see the direction of the wind, and wait for them to take the initiative to ask for help is a good time to put forward conditions, like now I said to support them, the other party refused."

The person on the other side laughed: "That's because your interest rate is too high, 25%, and you can say it." ”

"Go with the market, go with the market."

The morning's report came out quickly, and withdrawals took nearly $3 million — more than half the estimated figure.

"What's going on?" Francisco asked, frowning, "It's a lot faster than expected." ”

Delvichchio, the president of the U.S. branch, replied embarrassedly: "Due to the large number of people in the queue, the teller has become very fast and more efficient than usual......

Contini was carefully watching the data from the stock market telex, and smiled: "It's okay, you can go as fast as you can, and all the 300 million shares have been reduced...... What we have is money to deal with the run, of course, this fund will take T+3 working days to arrive, you can plan to repay some of the borrowed funds that are due. ”

"Okay, there are indeed 2 funds totaling 50 million due in 3 days, and the presidents of the two banks have called me repeatedly, and I will reply to them now."

When the stock market opened in the afternoon, the 400 points that I thought could be stabilized only struggled for less than 15 minutes before being broken, and the mighty sell-off continued to hit the stock price down - these are actually belated effects, because a lot of delayed data is known to be transmitted before the afternoon open, and those who saw the big drop during the lunch break have joined the sell-off.

Contini smiled at Livermore: "You're still optimistic...... I didn't hold 400 points at all, and I suspect that I can't hold 390 points today. ”

Livermore sighed: "400 points are broken, 390 points are not holdable, 384 points may have a glimmer of hope - this is the lowest point in the whole of August, if it is broken again, then I don't know when it will end." ”

At the time of this, the stock market is falling sharply at a speed visible to the naked eye, and there is a fourfold effect superimposed:

The first is, of course, the domino effect caused by the more than 300 million shares sold by Union Bank;

The second is because Contini's statement at the summit forum alerted many investors, coupled with the last flash drop of the previous trading day and the sharp drop in the morning, they also issued a selling order in the afternoon;

Third, with the spread of the Fed's statement, the risk news of the Union Bank also affected the judgment of shareholders due to the grand queue of the outlets of the Union Bank, and the stock price of the Union Bank, including the Union Bank, fell sharply;

Fourth, because of the rapid decline of the stock market, there is a huge number of liquidation orders - mainly the shareholders who have only taken over in the recent period, many people have bought shares with inflated stock prices, and even have the courage to go up to 7 times, 8 times or even 10 times the leverage, none of these stocks have fallen by more than 15%, regardless of 10 times 8 times, 6 times can not bear, traders are desperately liquidating - even margin calls are not needed.

In the morning, the busiest place in addition to Union Bank is the major brokerages.

Aquilani watched happily in front of the telex as the stock price fell into the abyss, and today he was in charge of delivering the telex message to Contini, and he knew the inside story: although the president did not build enough short positions due to the sudden interference of the Federal Reserve - he originally hoped for 4 billion, but in the end it turned out to be less than 3.3 billion, but the president chose the timing too well, and it was simply seamless.

Livermore also understood that although he did not attend the high-level meeting last night, he saw through the idea at a glance - he was an expert in the field of American speculation!

As for the traders who execute the instructions mechanically, they all smiled from ear to ear, and today they made at least tens of thousands of dollars in bonuses a day - what else can make money faster than this?

Refreshing!