Chapter 346 Sister-in-law, you don’t miss your sister either…
After the urgent discussion, the Rothschild family began to take action.
Although the Rothschild family felt that something was wrong, they felt as if they were being targeted in this Latin American incident.
But when it comes to debts to Latin American countries and other countries, in fact, most of the large and small banks in Europe and the United States are in the same boat.
Take the Bank of New York Mellon as an example.
When lending to Latin American countries, at least $40 billion of Bank of New York Mellon's more than $80 billion in cross-border loans was lent to sovereign states.
The rest of the money is loaned to governments or private lenders engaged in commercial activities.
Large banks such as Bank of New York Mellon are known for their strict loan approval process, so they serve as a benchmark in the banking industry.
If the Brazilian government needs a $5 billion loan, it will generally turn to a large bank.
For example, Bank of New York Mellon, as long as Bank of New York Mellon agrees to loan one billion or two billion dollars.
Then the remaining small and medium-sized banks that are waiting on the sidelines will rush to share in these loans.
There is no doubt that Bank of New York Mellon's ability to resist risks is definitely stronger than those of small and medium-sized banks.
If a crisis occurs, Bank of New York Mellon may be able to survive, but a large number of small and medium-sized banks will definitely go bankrupt.
If these small and medium-sized banks go bankrupt, the impact will be equally severe.
Because many times, the deposit interest rates of these small and medium-sized banks are much higher than those of large banks.
Especially some regional banks, such as Chicago City Bank and Chicago Decker Bank in Chicago, or small and medium-sized banks such as Houston Integrity Bank and Houston Sixth Bank in Houston.
There is no way, they need to rely on higher interest rates.
To attract local residents to deposit their savings into their own banks.
So when these small and medium-sized banks that are more prone to bankruptcy go bankrupt.
Given the nature of American banks, most of the depositors' deposits in banks will be directly lost.
But the money borrowed from the bank still needs to be repaid...
With the inflow and outflow of funds, the collapse of a large number of small and medium-sized banks can sometimes cause more serious damage to a region than the collapse of a large bank.
It can be said that it will seriously damage the foundation of the banking industry and trigger a crisis in the entire banking system.
Bank of New York Mellon will definitely not be able to escape, and may even be targeted because of its particularly large lending volume.
Almost all people in the financial industry are smart, and after realizing the seriousness of the matter, they took action.
Federal Reserve Chairman Alan Greenspan, U.S. Treasury Secretary Dekes Hans, President of Bank of New York Mellon, President of Lehman Brothers, Chairman of Goldman Sachs, President of Merrill Lynch... a large number of financial giants held an emergency meeting to discuss countermeasures.
After the end of August 6, no proper measures were negotiated.
The adverse impact of Brazil's sovereign debt default has further fermented.
Although the print media was unable to report the incident in a timely manner, television stations in various countries have already reported the relevant situation.
The general public in various countries began to worry.
Although the TV stations stated that the government would definitely step in to properly resolve the issue, there were still many cautious people who rushed to the bank with their bank cards, as they wanted to withdraw their money for safety.
For a time, the pressure on the lending banks involved increased dramatically.
Amid the surge in Nasdaq-related U.S. stocks and the appreciation of the U.S. dollar.
However, the share prices of listed banks in the United States have plummeted against the trend.
Even American banks, which lend relatively little, are in this situation.
Not to mention those European banks, such as Germany's Deutsche Bank, France's BNP Paribas and Crédit Agricole, Spain's Santander, Britain's Barclays and so on.
But this is exactly what Milo wanted to see.
By the end of August 6, Milo had received report cards from eight teams.
The Compass team made a floating profit of more than 820 million US dollars.
Andre's team made a profit of more than 910 million US dollars.
George Berkeley's team made a profit of more than $770 million.
Ichiro Watanabe's team made a floating profit of more than 780 million US dollars.
The Nielsen team made a profit of more than $990 million.
…
Peter Peterson's team made a profit of more than 380 million US dollars.
The combined floating profits of the eight teams reached more than 5.263 billion US dollars! If we add the previous floating loss of 700 million US dollars of Paladin investment, it is equivalent to a profit of nearly 6 billion US dollars in one day.
It was terrifying! During the video call, Milo could also feel the excitement of each team.
However, he remained calm, and after encouraging each team, he specifically told them to continue to stay calm and maximize their results.
In the following days, the adverse impact of Brazil's sovereign debt default became increasingly serious. After being reported by media around the world, it became almost known to everyone. Of course, Milo's media empire was behind this.
Morgan and Rockefeller were also behind the scenes fanning the flames.
This time they are determined to fight to the death and make the Rothschild family suffer a heavy defeat.
On August 7, Paladin Investment’s total floating profit reached more than 7.55 billion US dollars.
On August 8, Paladin Investment’s total floating profit reached more than 8.63 billion US dollars.
It was August 9th.
While commercial banks and governments in Europe and the United States have not yet discussed a proper solution to the problem of Brazil's sovereign debt default, another country has announced its inability to repay its debts despite obstruction from Europe and the United States.
Eleven o'clock in the morning.
The Argentine Finance Minister held a press conference and announced in front of everyone with a guilty look on his face that Argentina was unable to repay the principal and interest of its $93.6 billion sovereign debt, but Argentina would definitely try its best to find a solution...
No one paid attention to the high-sounding nonsense that the Argentine Finance Minister spoke later. Major banks in Europe and the United States were wailing, especially those that lent money to Argentina, which were under tremendous pressure.
As for Argentina, after announcing its inability to repay its debts, the already volatile and declining stock and foreign exchange markets in Argentina completely collapsed! Once there is a first, there will be a second. Once there is a second, there will be a third. In everything, we are afraid that someone will lead the way!
Brazil is one of the leaders in Latin America. Although Argentina's domestic economy is sluggish, it cannot in any way conceal the fact that Argentina is one of the major countries in Latin America.
After these two countries chose to default, although their domestic stock markets and monetary systems collapsed, the pressure they were under also disappeared or was mostly transferred in an instant.
European and American countries and major banks were in chaos.
After seeing this, governments of countries such as Mexico, Colombia, and Peru also became eager to take action.
A country will never lack smart people.
In fact, the governments of Latin American countries and other countries have already made clear analyses of their respective national situations and interests.
Carrying with huge debts, the country's economy has actually fallen into a vicious circle. It can only be sucked dry step by step by Europe, the United States and other countries. In the end, the country's financial market will also collapse.
Since the financial market will collapse sooner or later, it is better to collapse now. At least we have a little initiative, the impact can be less severe, and the debt can be put aside first.
In short, Latin American countries and others could no longer tolerate oppression and exploitation and chose to turn the table.
Regardless of whether it is a debt or not, we can discuss everything again. As long as we unite, maybe we can directly wipe out more than half of the debt...
Anyway, all I have left is a pair of torn shorts, how could it be that bad?
On August 11, as the Latin American sovereign debt crisis intensified, Mexico, which currently has the strongest comprehensive strength in Latin America, no longer wanted to suffer and decisively jumped out to add fuel to the fire.
That morning, Mexico's finance minister announced that Mexico was unable to meet all of its sovereign debt obligations.
It is even more cruel than Brazil and Argentina. At least Brazil and Argentina are still showing some respect and have not said that they will not pay back all the money owed.
Mexico either keeps silent or, when it speaks, says: I’m revealing my cards. I’m not going to pay you back!
As Mexico directly plays rogue, European and American banks all know that things are completely irreversible!
After hearing the news, Milo almost danced in his office.
Mexico's rogue behavior has made the Latin American debt crisis irreversible.
On the one hand, he could reap a huge share of the profits by making arrangements in advance.
On the other hand, that is affected by this time.
A large number of small and medium-sized banks in the United States, as well as a large number of banks in Europe, will definitely be seriously injured! Milo now doubts... No, it is no longer a doubt.
Of course! He was sure that this was the situation that Morgan and Rockefeller had created on their own initiative.
On the one hand, it can severely cheat the European banks headed by the Rothschild family.
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On the other hand, a systemic crisis in the banking industry could be created in the United States, but it would mainly target small and medium-sized banks.
This will cause a large number of small and medium-sized banks to go bankrupt and collapse.
After they go bankrupt, these prepared giants will be able to step in and clean up the mess.
Acquire the high-quality industries of these small and medium-sized banks at extremely low prices.
Complete a new big merger. As for whether it will hurt me by mistake...
To be honest, if they were afraid of accidentally hurting themselves, there would be no financial crisis and 9/11 would never have happened.
Crisis, crisis, where would there be opportunity without danger? Anyway, they have a big family and a big business, although they will lose some blood in the process.
But in the end, after the disaster is over, as long as you survive, everything you lost can be made up.
Even five or ten times the compensation.
It's a bit like the Seven Wounds Fist.
Although I would get hurt after throwing this punch, as long as I could kill the opponent, then the injury would be worth it.
At present, European banks are the most unlucky, followed by a few large American banks and the largest number of small and medium-sized American banks.
On the list submitted by the Blackburn Foundation, Milo found that there were thousands of small and medium-sized American banks in crisis.
If Blackburn Bank could be acquired in its entirety, it would instantly become the largest bank in the United States or even the world.
But that's impossible.
Because it’s impossible, even if Morgan and Rockefeller join forces, they can’t do it.
Because although these banks have many high-quality assets, more junk bonds and liabilities were generated under the impact of the crisis.
If we swallow them all, we will certainly become the largest company in the United States in one fell swoop.
But you also have to be able to digest it successfully.
If you can't digest it, you will die from overeating.
Therefore, the best way is to go among those banks that are in crisis and about to go bankrupt.
Select some high-quality ones and take them in.
This is what all the giants do.
"It's been ten days."
After reading the report, Milo walked to the floor-to-ceiling window, looking down at Manhattan below, thinking that the Rothschild family was really patient.
He still doesn't believe it.
The Rothschild family has not yet discovered that this is a trap.
Moreover, Morgan and Rockefeller had teamed up to set a trap for them nearly ten years ago.
If it hasn't discovered it yet, then Rothschild doesn't deserve to continue to be the leading bank in Europe.
If I had discovered it, I would still be hoping for a lucky break.
Then they deserve to die!
After looking at the scenery of Manhattan's steel jungle for a while, Milo returned to his desk and pressed the button to summon his secretary.
After a while, a young and beautiful blonde came in, shaking her butt.
"Mr Blackburn?"
"What else do you plan to do this afternoon?"
The blonde secretary pulled out the notebook in her hand, looked down, and said quickly, "In half an hour, you will meet with Mr. Ted Turner, CEO of Blackburn Media, to discuss the construction of the new media headquarters in Hudson Bay City Plaza."
"At 3 pm, after the meeting with Mr. Turner, New York Mayor Rudy Giuliani invites you to participate in the ribbon-cutting ceremony of Hudson Bay Plaza in New York."
"After 4:30, Mr. Robert Morgenthau, the prosecutor in the Manhattan prosecutor's office, wants to meet with you, but he didn't mention the content of the meeting."
"After half past five, you will return to your estate on Long Island to prepare for a party later. The party will be held at the Rockefeller Estate in New Sleepy Hollow. It is Mr. David Rockefeller's birthday party."
“…”
After listening, Milo waved his hand and said, "Cancel all schedules before 5:30. At 5:30, remind me to attend Rockefeller's party."
The secretary quickly agreed, although she was curious why Mr. Blackburn would cancel the meeting with Turner, Morgenthau and Giuliani.
You should know that among these three, except Turner, they are Milo's subordinate and work for him.
The remaining two are both big names in New York City.
One is the mayor and the other is the prosecutor.
Ordinary people, no, if the elites in the city want to meet them, they don’t know how much connections, energy and money they will have to spend.
But Mr. Blackburn simply cancelled the meeting with them.
The secretary thought, who said they were in a disadvantaged position compared to Mr. Blackburn, just like the ordinary elites were compared to them! "Let's go, please pack up the documents and materials. Thank you, Miss Harrison."
"This is what I should do." Secretary Miss Harrison replied with her head down.
While watching her lower her head, he deliberately straightened her snow-white hair.
Milo smiled to himself.
I thought my sister-in-law's cousin was really pretty.
She has a pretty face and a nice figure, but compared with my sister-in-law, she lacks that charm.
And her IQ is far inferior to Haley's.
Yes, this Miss Harrison is Haley's cousin.
One of the talents recommended by the Boston Consortium to be Milo's secretary.
Lily Harrison is a 23-year-old graduate of Harvard University. She is the great-great-grandson of Benjamin Harrison, the 23rd President of the United States.
(End of this chapter)