The financial crisis that occurred in 1997 should have been the Asian financial crisis to be exact.

The crisis began in July 1997.

The first country to suffer was the Dai country, and then quickly spread to Malaysia, Singapore, Neon and Han countries.

The currencies of Dai, Indonisia, Han and other countries depreciated sharply during this period, and at the same time caused most of Asia's major stock markets to fall sharply.

At the same time, the crisis has also hit the foreign trade enterprises of Asian countries, resulting in the closure of many large Asian enterprises, the unemployment of workers, and the social and economic depression.

On an economic level, it shatters the previous rapid economic growth in Asia.

At the bottom of the day, it is actually headed by American financial capital, supplemented by European financial capital.

At the same time, they launched a blow and plunder against the economies of emerging countries.

It can be said that they are in their old business.

It's just that they have replaced the robbery of their ancestors with a financial plunder that now looks more technical and modern.

But in essence they are the same.

The consequences for Asia are similar to those of a hundred years ago.

At most, it just doesn't have to kill so many people.

It was from this crisis that the economies of some major Asian economies began to decline, and the positive situation in some countries began to be chaotic.

The power of Rim Asia and Greater Asia, which had been raising its head, was interrupted.

In that crisis, the best situation was in China. If it weren't for the sake of protecting Hong Kong Island, it would even be said that there would be no problem at all.

The second is the VV area, due to the special circumstances at that time, the international tour capital did not dare to move, and it can be regarded as a fluke.

This is a typical dollar tide dominated by dollar hegemony.

The so-called dollar tide, simply understood, means that the Federal Reserve lowers interest rates and reduces the attractiveness of the U.S. market, allowing a large number of dollars to leave the U.S. and spread to the world.

When these dollars are dispersed, they bring a lot of investment to the local area, as well as the jobs that come from the investment.

It can be of great help to the economies of countries around the world in the short term.

Therefore, whenever the dollar enters a period of interest rate cuts that lasts for several years, it is often also a time when the economies of those emerging regions of the world are growing rapidly.

When the time is right, or when the domestic economic situation in the United States is sluggish.

Vampires are hungry and need to suck blood when they need it.

Then the Fed will gradually raise the benchmark interest rate accordingly.

The consequence of this is that the dollar capital invested by the United States in the past few years will gradually flow back to the United States.

Capital has always pursued stable and high profits, and when the Fed's interest rate is high, they will go back to the United States to earn interest.

After being withdrawn a large amount of money and losing foreign investment capital.

The situation in emerging economic regions that have been developed with external help will immediately become a crisis.

In a short period of time, the vitality was greatly damaged, and the exchange rate fell wildly.

Generally at this time.

The international tour capital, led by Soros, will act as a thug and begin to harvest emerging countries whose immunity has been broken by the dollar tide.

Wait until the robbers have their pockets full and leave.

What remains is a new region of countries where unemployment has risen sharply, currencies have depreciated, economies and GDP have fallen a lot, and even the positive situation may begin to be unstable.

But don't worry, it's a little while.

The Fed will cut the benchmark interest rate again.

The dollar will begin to leave the United States again and re-enter these countries that were "robbed" not so long ago.

With a large amount of foreign investment, the economy began to recover again, and workers began to have jobs to do again.

Obviously, a new round of tides has begun.

Since the end of World War II, the dollar has established global economic hegemony, and the Marshall Plan has succeeded in reviving the European economy and turning it into a puppet.

Such a dollar tide has been happening for decades.

This is a bit like some kind of magic cultivation in Huaxia Fantasy.

The Great Devil spread his skills and exercises to his disciples, allowing them to cultivate and increase their cultivation.

After they have cultivated to become masters, they have not been happy for two days, and the big devil will take action and suck back all the skills of these apprentices.

But he didn't kill them, but after a while, he gave them new skills and let them continue to cultivate

It's been circulating like this, and the big devil can get away with the world with this set.

At the same time, you can also use this method to suppress the second, third, and fourth children and determine their hegemony.

The rise of later generations such as Huaxia, under this practice, can only achieve self-protection at most, and even be affected by this.

can only do not be like those emerging regions and the United States, the little brother, without a backhand.

But that's all, because of the hegemony of this dollar tide.

To put it bluntly, it is ultimately based on the unique combat strength of the United States in 2001.

It's like borrowing money to buy a tank.

When your tank is really bought, and the creditor wants to ask you to repay the money, you have to consider whether it can withstand the shelling of your tank.

In this context, Soros and those international travel funds can only be regarded as thugs at best.

Soros himself is the head of the thugs and is used as a direction of command.

Like what Abel did with the NOK last time.

If it were any other time, it would be when the Fed would start to raise interest rates gradually.

He is not going to help Norway against international money.

Because at that time, if he did that again, he would not be fighting against Soros and international travel capital.

Rather, it is indirectly confronting the United States, which launched the "magic work" dollar tidal law.

If this is the case, Abel is estimated to be cooperating with Soros and international travel capital, instead of jumping left and right.

Because it was then the will of the entire financial capital of the United States that acted.

It's not the skirmishers of the NOK.

Charlie Brown in the pizzeria.

Hearing about Aberty in 1997, Soros actually didn't feel humiliated.

That time he failed, not because he was not skilled, not because he didn't have enough money, not because he didn't have enough friends.

It's that he and international travel capital, even the United States, underestimate Huaxia's determination.

Huaxia's "skill" accumulated for more than ten years is the main reason for defeating Soros.

If you had landed on Hong Kong Island itself, it would have been robbed long ago.

"From June 1999 to May last year, a total of 11 months, the Fed raised interest rates six times in a row, with a rate hike of 1.75%."

Soros confronted Abel and said, "Don't you think this is a clarion call for a charge? ”

"So you chose Hong Kong Island?" Abel asked.

Soros nodded, "I've been buying Hong Kong dollars for half a year in a row." You know what I mean. ”

Abel thought for a moment, and he whispered: "The Fed has raised interest rates 6 times, 1.75%. But don't forget that since last year, in response to the Nasdaq crisis and the 911 crisis, it has cut interest rates twice, and the benchmark interest rate is now 1%. The dollar repatriation is over. ”

"And you don't forget. Last time, Huaxia could protect Hong Kong Island, and this time they will make the same choice. If we do this, we will not be engaging in Hong Kong Island at all, but confronting the foreign exchange of a big country. ”

"Exactly." Soros said, "That's why I'll invite you." It's not just you and me this time, Bridgewater, Bridgewater, Greenwich, and Renaissance Tech will all be gone. Counting your Smith Capital, we can amass over a trillion dollars! ”

Abel knows all the companies that Soros is talking about. They are several well-known hedge fund companies in the United States.

Generally speaking, the main component of international travel capital is also these hedging companies.

One of the characteristics of these companies is that they are highly leveraged. Like Soros, many times he dares to pull up to 20 times the leverage, which is even more exaggerated than Abel's Smith Capital is now.

Therefore, these hedge funds, their custodian assets are generally not very exaggerated, at most tens of billions to hundreds of billions of dollars.

As long as a part of this money is withdrawn, relying on exaggerated high leverage, it can already operate hundreds of billions of funds.

The stakes of this model are high. It takes a large group of people to act together every time to gather a terrible financial attack.

Ultra-high leverage brings exaggerated interest. As soon as the interest rate is high, the cost of capital is very large.

Therefore, the operation of the hedging company is basically a short-term transaction, which generally does not exceed two months.

In the face of Soros's proposal, Abel groaned, as if he was considering, and this situation lasted for several minutes.

Soros didn't bother him, but quietly looked at the pizzeria that was said to be Abel Smith's favorite to come to.

Because Abel likes to bring people here to talk about things, gradually this pizzeria has become somewhat famous in the upper class of New York.

Many of New York's richest and brightest people have come here to eat.

After some people eat it, they boast about the food here, and they often come later.

As for whether the food here is really that delicious, or if these people came here to eat because they wanted to bump into someone.

Then it is unknown.

"So be it."

Abel's soft voice pulled Soros's gaze back from the surroundings.

He saw Abel and said, "As long as Warren joins, then I'll join." What do you think? ”

Soros thought to himself, if you want to say no, just say it, Warren Buffett. That guy never did anything like that.

Soros opened his mouth to persuade him again.

But he heard Abel say to him: "George, are you interested in investing in Smith Capital?" ”

Before the words of persuasion that he had just thought of were spoken, Soros was stunned.

"What do you mean?" Soros looked at Abel.

"It's like Warren, Michael, they're the same. Invested in Smith Capital. ”

Abel made a condition: "Use the shares of the Soros Fund Company and add the shares of the Express Company." The ratio is the same as theirs, how about 4%? ”

"Where's the valuation?" Almost without hesitation, Soros asked.

If Soros had heard Smith Capital's exaggerated valuation last year, he would have laughed it off and thought it was a joke.

After Warren Buffett became a shareholder, Soros faced up to Smith's capital.

Later, after PNC Financial Services Group became a shareholder.

Soros has begun to seriously study Smith Capital.

Later, Bloomberg also became a shareholder.

Soros has approached Bloomberg privately, and the two oilers have talked a lot.

After that, in fact, the sword of Wall Street already had some ideas about Smith Capital.

It's just that at that time, Soros still disliked the valuation of Smith Capital being too high.

Before it went public, it was valued at $400 billion.

This number, no matter how you look at it, is too exaggerated.

But then when in London. Soros and Abel met and witnessed how Abel made money.

Soros is starting to really move.

At this year-end reception at Smith Capital.

Suspicious like Soros, he is also completely moved by Smith Capital.

Now in the face of Abel's proposal, he naturally asked without thinking.

"It stands to reason that you're almost a year behind Warren." Abel said with a smile.

Soros immediately said: "Not a year! It's only been nine months since Warren Buffett joined your company in February last year. ”

"Okay. Nine months short. It stands to reason that the difference of nine months will be different. But."

Abel looked at Soros with a smile, "But for the sake of our relationship. George, your valuation is the same as Michael's. Interested? ”

"Are they the same as Michael?"

That's a $400 billion valuation.

4% of stocks, that's $16 billion.

It's expensive, because now GE has a market capitalization of only about $340 billion.

In other words, at this valuation, Smith Capital is already more expensive than General Electric.

But Soros still did not hesitate to say: "I am willing to take a stake." However, you can't use all stocks. In addition to the shares of Amex, I will take out $5 billion in cash, plus some shares of the Soros Fund. ”

"That's not going to work." Abel shook his head and bargained: "To tell you the truth, Smith Capital is not short of cash at all!" Let me tell you a secret, Smith Capital now has more than $100 billion in cash at its disposal. That's twice as much as Berkshire Hathaway. I just want stocks. ”

"And."

He threw his hand at Soros: "Only by holding shares and cross-staking can we increase trust in each other." Don't you think that's better? ”

Soros took a deep breath, and he said decisively:

"20% of the shares of the Soros Fund, worth $3 billion. For the rest, I use all the shares of other companies, such as Amex. ”

The capital managed by Soros Fund is not very good on Wall Street, about less than $30 billion.

Among the three Buffett, Smith, and Soros, he is obviously the poorest.

Soros is not as rich as outsiders think. He has always been ranked around 30 to 40 on the list of the richest people in the United States, with a net worth of $12 billion.

The vast majority of them are shares of the Quantum Fund and Soros Fund Management.

4%, a $16 billion Smith Capital stock, Soros alone can't eat.

Soros's idea is simple, he can't eat it, but there are people behind him who can eat it.

Like Bloomberg, 4% of Smith Capital's shares are actually owned by no less than five people.

Bloomberg was merely a nominee, and he made up the vast majority.

Soros is the same now, and he will eat some of it. But for the rest, Soros will assign to other interested parties within his own interest group.

The equivalent of 4% of the stock is actually not held by Soros alone.

It's like Bloomberg's 4%.

This is also the reason why Soros will offer to buy part of it with cash.

Some people who are interested in buying but do not want to reveal their identities are unwilling to take stocks, but only willing to cash in gold.

"Yes."

Abel stretched out his hand, smiled at Soros and said, "George, happy cooperation." ”

"It's a pleasure to work with." Soros also smiled for the first time, and reached out to hold hands with Abel.

Ka Rub –

A crisp shutter sounded.

Soros turned his head sharply and saw David Jones, who often appeared next to Abel, holding a camera and pointing it at the two of them.

It was the sound of the camera shutter ringing.

"Don't be nervous."

He heard Abel's laughter: "Haha~ Take a photo to commemorate it." In this way, the two of us will also have a group photo in the future. ”

Soros shook off Abel's hand angrily and said:

"Wouldn't you be worried about being told that we were acting in concert?"

There is no need for Abel to explain, Soros knows what Abel is doing for people to take this photo.

With this photo, Abel only needs to ask his newspaper to send it out.

Then this photo of the two smiling and shaking hands, plus the place and time of the shooting.

It will soon make the stock of Amex, which is now high at around $43, go down like crazy.

"Afraid of what?" Abel doesn't care about the authenticity:

"Just let the SEC and FINRA investigate, and we're not really acting in concert. It wasn't me who took the initiative to hype up our hostile relationship, and the board of directors of Yuntong Company made a lot of efforts. ”

Soros knows this too.

The law on "persons acting in concert" is strict and prohibited.

But this kind of thing also depends on the person, the person who buys it and the company that is being acquired.

As long as it is not recognized as a "concert party" acquisition model, it does not matter if it is in fact so.

Soros took the opportunity to make a request: "The stock price of Amex cannot be calculated at $35." ”

"$40, that's my bottom line."

"No problem." Soros directly agreed.

After a pause, Soros said again: "Are you really not participating in the affairs of Hong Kong Island?" ”

"Not participating."

"Okay then."

The U.S. stock market is closed in the afternoon, and tomorrow is Saturday, and the stock market will be closed for two days.

Shares of Amex stopped at $42.35.

Abel Smith's hostile takeover of Amex can be said to have attracted much attention.

And not just because this is the biggest hostile takeover since the outbreak of the 9/11 crisis.

is also because of the plot of the attack and defense of the two sides along the way from the beginning of this merger and acquisition case to the present.

It is almost comparable to the "barbarian at the door", which is known as the most classic corporate merger and acquisition battle in history.

Whether it is a share buyback or a white knight's raid strategy, it can be seen in the offense and defense of Abel's acquisition of Amex.

However, after the previous offensive and defensive rounds, Yuntong and Abel's side had dealings with each other.

But none of them seem to have really changed the situation.

Abel Smith's sudden silence and silence have brought the acquisition to an impasse.

In addition to the leeks and investors on the top, they want Abel to come over and take over.

Clear-eyed people believe that there is only one way left for the two sides, which is to face off at the shareholders' meeting of Yuntong.

It was held on November 20th, four days later, at the general meeting of shareholders of Amex.

Abel Smith plans to nominate more than five members of the Board of Directors.

If that happens, Abel Smith will have a majority of seats on the nine-seat board of Amex.

In addition, it will take the lead in the acquisition case.

It is worth noting that the board of directors of Yuntong Company, before the stock market closed, released two consecutive pieces of news to stabilize the falling stock price of Yuntong Company.

The first of the two pieces of news is that Jim Walton, one of the top 30 shareholders of Amex, has decided to vote for the director nominee nominated by Amex.

To make matters worse, Jim Walton said he had asked for a one-month postponement of the shareholders' meeting, scheduled for November 20, citing emotional tension during the war.

The second news is that Yuntong Company also announced that its overseas funds of 3.45 billion US dollars left overseas will be returned to the United States through investment channels to buy back shares of Yuntong Company.

Some of these shares are distributed equally to shareholders, some are rewarded with dividends to the top of the board, and the remaining part is returned to the share capital.

These two pieces of news made the stock price of Amex stabilize before the market closed.

"It's stalling for time. Some shareholders still think that they can sit on the ground and sell their shares for more value. ”

Inside Smith Capital, in the top office of Woolworths Building, Abel sneered when he heard the news reported by Alan Baker.

For the dying throes of the board of directors of Amex, Abel was dismissive.

Soros is on his side.

Those so-called white knights, after knowing this news, will most likely disperse in a hurry.

Without these troublemakers, if you only rely on the board of directors of Yuntong Company, you will not be able to compete with yourself.

"According to Glenda McNeil, vice president of Amex, who has decided to side with us."

Alan Baker stood in front of his boss and whispered -

"Many shareholders still insist that the value of Amex shares is much higher than our $35 quote, or even higher than the current market price. As a result of the preliminary shareholder vote, some directors of the original board of directors were supported by more than 50% of shareholders, and some directors only had about 40% of the vote. ”

In fact, in a listed company, if the approval rating of shareholders is less than 80% to 90%, it means that there is a problem.

Only 40% is a sign that the problem is huge.

This means that 60% of shareholders do not support it, and it is impossible for such an executive director to reassure the shareholders' meeting.

The board of directors of Amex is not unaware of this.

But they can't help it, they can only bite the bullet now, hoping that the white knight can repel the barbarians.

"It seems that he really hasn't given up yet."

Abel thought for a moment, he took out his phone and found one on it.

"Hey, Jace, how about having a meal together in the evening?"

"Haha, okay. It's up to you, I'm in New York right now. OK~OK。 It's decided, and we'll see you or leave it. ”

Abel quickly finished the call, looked up and said to Alan Baker, "Let AMC TV release that photo of David to the public." At the same time, we also announced that we have received 6.9% of their shares in Amex from Soros Fund Company. ”

Alan Baker knows who the owner of that phone call the boss just made is.

Because of this call, part of it was suggested by the Smith Intelligence Group that Able make a call.

"Okay. Then I'll go and prepare. Alan Baker smiled.

"Go ahead."