Chapter 436 Current Situation of Banking Industry
"This should be suggested by the Secretary of the Navy. Is it okay for me to speak like this?" Alice Roosevelt hesitated.
"Our Navy Minister? Who is he?" Sheffield slapped his head and couldn't remember this person. "Since I can't remember him, it means that this Navy Minister is ineffective. Why is he ineffective? Because he is not professional. Why not appoint a professional as Navy Minister? Because professionals really understand the navy."
After a round of tongue twisters, Sheffield wanted to make Alice Roosevelt understand that the fundamental reason for the embarrassing position of the Navy Department now lies with the president, that is, your father. An experienced Secretary of the Navy will leave the president who thinks he knows the navy very well with nothing to do.
"You bad guy, don't say bad things about my father." Alice Roosevelt was stunned for a moment, then suddenly reacted, reached out and grabbed Sheffield's ear. This man was saying bad things about her father in a roundabout way.
"Okay, I was wrong. Listen to me. It is obvious that the Japanese naval fleet is now the biggest threat to the United States in the Pacific. I believe your father agrees with this. With such a big threat, it is very necessary for our navy to go out and express friendship. It is very necessary to go with goodwill. If some government officials can say a few words about the friendly tradition between the United States and Japan, and not rush to urge them to repay the loan, it would be better."
After much twists and turns, the slave owners finally showed their true colors. I hope someone in the government can speak up and ask them not to force the Japanese government to pay back the money. This is a very important matter. From a national perspective, forcing Japan to pay back the money will increase the Japanese hostility towards the United States. Although Sheffield doesn't care about this, even if a war breaks out, the worst that can happen is that the slave owners can hide in Texas, and the Japanese will be exhausted but will not be able to invade the United States. As for the Pacific coast, it is basic common sense that the coast is vulnerable to attacks. I believe the citizens here are mentally prepared for this.
Sheffield was not in a position to worry about national affairs, but from a personal perspective, this matter was very important because the money owed by the Japanese government belonged to Morgan, including Morgan himself and the Morgan Alliance. It would be best if the debt could be paid as long as possible.
"Since Japan is a threat to our country, shouldn't we back it up with a strong military force? Why are we being so servile? Aren't we always saying that the American century has arrived?" Alice Roosevelt asked in confusion, "The navy fleet is here, but we are lowering our posture. Why?"
"Because Japan is really a huge threat, not the threat publicized in our newspapers. The threats in our newspapers are countries like Spain and Colombia, and we can't defeat these countries, so there's nothing wrong with talking nonsense." Sheffield pointed out the essence of a country's existence, bullying the weak and fearing the strong. "But Japan really has the naval strength to attack us. We usually have another official term to describe this kind of threat, called an important global partner. While we are not preparing to go to war with Japan, we must make domestic citizens believe that the strength of the Japanese navy is not aimed at us."
Take the fierce confrontation of the Cold War as an example. When was the best time for the US-Soviet relationship? In fact, it was in the 1970s when the Soviet Union was at its strongest. The Soviet Union launched a global offensive and the anti-war sentiment in the United States was strong. The unemployment rate and inflation problems were all exposed. Washington said that the Soviet Union should not be demonized and was an important participant in the global order.
"So we can be allies with Japan!" Alice Roosevelt thought for a moment, "We can coexist peacefully."
"It could be an alliance like me, Candler, and Keane." Sheffield made some corrections to the president's daughter's idea, "but it's definitely not an alliance like me and the Rockefeller family."
This kind of example can be found in the Cold War. The Cold War has only a few stages. When World War II just ended, the Axis powers were completely annihilated and the United States was the only superpower. In this stage, the United States took the attitude of "I eat whatever the dog eats", saying that the war was over and the situation was very good, so everyone could make as much as they wanted. In the second stage, the Soviet Union was coming aggressively, and the United States changed its strategy, saying "I eat whatever the dog eats", "The Soviet Union was coming aggressively, so the lackeys should hold on, and the United States was willing to share the hardships with everyone."
As for the third stage, it was very serious. The United States discovered that the dogs it had raised were rebellious and did not work hard, so the United States had to take action itself at the critical moment. During this stage, the United States had a sudden realization and prepared to kill two dogs to replenish its body.
Of course, we cannot use too profound examples to describe Alice Roosevelt. It would be more appropriate to describe it by the industries controlled by the Sheffield family and the differences in its relationship with the Rockefeller family.
"You bad guy!" Alice Roosevelt said this for the nth time. After thinking for a while, she said, "If my father didn't come forward, who would be the most suitable person to make such a moderate statement? Me!"
Out of conscience, Sheffield had no intention of letting Alice Roosevelt go abroad again. He knew that Alice Roosevelt had just returned from Asia, and that the slave owners would feel distressed if she went abroad with the Great White Fleet again.
"Although you are the most suitable person, you still shouldn't go. It's not difficult to find a Republican figure from the government who has good prestige and can make use of his remaining energy." Sheffield shook his head pretentiously and said, "It will take several months to go out, even if you go to Japan and come back. No, I don't agree."
"Actually, it's not a big deal to go there." Alice Roosevelt was already interested and said to herself, "This can also help my father, and I see that you seem to care about this matter."
Even if it's true, you shouldn't say it out loud. How embarrassing! Sheffield said noncommittally, "But I feel a little empty inside that you're not in the country."
The slave owner's cheesy love words were just as good, fully showing his true colors. He wanted to get things done but didn't want to pay the price. As for the matter of the disaster relief bonus, he ultimately had to rely on Morgan's help.
The San Francisco incident had come to an end, and apart from the ruins and the long lines outside the insurance companies, in the eyes of most citizens, it was over. And Alice Roosevelt, who had grown up a lot under the guidance of the most honest slave owner in the United States, accepted a new round of indoctrination and boarded the train to Washington.
Of course, Sheffield also has his own things to do, which is to conduct a survey of the financial industry. Data has always been very important in the eyes of slave owners, sometimes even more important than sending commercial spies.
The United States has no central bank, but the banking industry is still expanding rapidly. The period after the Civil War has become a season of expansion for the banking industry. Now, there are 20,000 banks in the country, with an average of one bank for every 4,000 people. In most American towns, there are local banks and national banks for depositors to choose from.
"If I hadn't paid special attention to this matter, I would find it hard to believe that the ratio of banks to population has become like this. Union Bank has been in this environment for a long time, no wonder its development has been so sluggish." Sheffield flipped through the data Evelyn brought over and shook his head slightly, "With so many banks, how do they make a profit?"
"This is also a new trend discovered after the current investigation. Many bank owners mortgage their own bank stocks, then take out loans from trust funds, and then use this loan to purchase the next bank to complete expansion." Evelyn took out another document, which stated the basic operation process.
No wonder! Sheffield was full of surprise. With this kind of expansion model, even if he had the United Company headquarters behind the United Bank, he couldn't keep up with them. What was this? A Ponzi scheme? A pyramid scheme? Sheffield had no idea whether it was a Ponzi scheme or not, but it looked similar.
But it is obvious that the financial industry in the United States is far superior to Ponzi schemes and pyramid schemes in terms of its scale. It is not the courage of ordinary people to treat banks as commodities.
"All we need now is an economic crisis to shut down these banks. Then we can do nothing and just wait for victory. But to go further, we still have to identify the high-quality assets. The financial industry has always used high-quality assets as a carrier. We have discussed this before. The shares held by so many banks must not all be junk." Sheffield crossed his fingers and his thumbs clicked rhythmically. "Banks and many trust companies have already invested their money in the stock market. They will definitely be harvested in due course. I have never been good at the stock market. What I want is more basic raw materials."
"As mentioned before, the federal government's reconstruction plan for San Francisco will keep the little money left in the market in the West, which will aggravate the shortage of funds in the market. The string on the currency is already tight, but I don't know when it will be broken!" Evelyn also nodded, "After all, we have fewer talent reserves in this area."
"It doesn't matter. Morgan is an expert. The current situation is that I will keep an eye on Morgan in secret, but Morgan will never keep an eye on me. Because if Morgan himself were to look at my development in the banking industry, it would be an absolute failure. How could he pay attention to a small shrimp like me?" Sheffield chuckled. "But I have my advantages. When it comes to dealing with politicians, not only is there no one who can be my teacher, but I am qualified to be a teacher to many people. Even if it is Morgan, I think I am more professional than him in the field of collusion between officials and businessmen."
"I just don't know if Morgan can take over all of my real estate businesses, but I want to give it a try." Sheffield thought for a while and said, "I plan to study this matter carefully with other partners."
(End of this chapter)
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