Chapter 469 Rockefeller's Defection
From the information he got from Edith Rockefeller, Sheffield knew that at least Rockefeller Jr. was not aware of the attack on the trust company, and even if he was aware of it, he did not participate in it. But the same could not be said for Morgan Jr.
This is also very normal. Even if they are both in New York, Morgan and Rockefeller's interests cannot be completely consistent. United Oil and Standard Oil both invested in a steel company at the same time. Doesn't it seem consistent enough? In fact, Sheffield and Rockefeller Jr. have completely different ideas. At least for now, Rockefeller Jr. does not want things to get worse, but Sheffield does not think so.
This is where the interests of the two people are different, and this will not change because Edith Rockefeller and Sheffield are in fact husband and wife, or because she is Rockefeller Jr.'s sister. Every adult needs to be responsible for himself. Now Rockefeller Jr. believes that Sheffield is harming his own interests by releasing the news of layoffs alone to hurt the market.
The steel company is not Sheffield's own, it's also part of the Rockefeller family. Now the stock price has evaporated by more than two thousand dollars because of the released news. Of course, he has every reason to be angry. That is the value that more than 20 million, or more than 200,000 citizens can create by saving and working hard for a year, and it's gone in three hours, and today isn't over yet.
"I just want to know, do we have a conflict of interest now? Are we on opposite sides, or do we have an opportunity to cooperate?" Rockefeller Jr. did not feel at ease facing Sheffield's nonchalant attitude.
The slave owner's confident attitude is really uncomfortable. It's as if no one knows anything better than me. The more he looks like this, the more uneasy it is.
Sheffield was silent for about a minute. This time, Rockefeller Jr. did not urge him. Instead, he waited quietly for a reply on the other end of the phone. Finally, Sheffield said, "I think this is a good opportunity that cannot be missed. There is a saying that goes, when the world is in chaos, the situation is very good. This kind of environment is the best time for companies at our level to show the survival of the fittest. All companies without vitality should go bankrupt. Just like the motto of your Rockefeller family, 90% is not enough, we need 100%."
Before the crisis broke out, the economy of the United States was developing at a high speed, and the market had a strong demand for funds. In such an environment, trusts came into being. As a financial innovation, trusts can raise more funds for the demand side, but due to their high returns, the flow of market funds has changed. The demand side can only borrow funds from trusts at high interest rates. When the returns in the industrial market are high, the disadvantages of this model have not appeared. Once the returns are reduced, this model has become a catalyst for the collapse of the market. Because a large amount of bank funds flowed into trusts, and the high interest rates of trusts made it unbearable for enterprises, the banking crisis eventually broke out.
When market sentiment is extremely pessimistic, it will have an impact on financial institutions, especially banks, the most obvious of which is a large number of bank runs. Since the operating model of banks cannot guarantee the retention of all funds, once a bank run occurs, the capital chain will be broken, and the overall market panic will cause the entire banking industry to have a capital shortage.
Bankers took advantage of this opportunity to liquidate trust companies. Could it be that industrial companies could also take advantage of this opportunity to liquidate bankers? Bankers could, and industrial companies could, too. There was no reason why they couldn't.
As for the impact on citizens, first of all, the citizens' deposits in the collapsed banks will definitely disappear. But for the national level, the impact is not so great. After all, the industrial base of the United States is still there, not hollowed out a hundred years later, relying entirely on the deterrence of the US military and the operation of financial institutions to fleece the world. Once any problem occurs in any direction of the US military and financial institutions, the US economy, which has lost its hematopoietic function, will immediately die.
As for the United States' most powerful agricultural hegemony, it is more useful for small countries than the US military and financial institutions, but it cannot deal with big countries. Domestic agricultural hegemony can only ensure that domestic citizens will not starve to death when a crisis comes, but other aspects are just a matter of thought.
This financial crisis is just a temporary loss of blood. It looks scary, but it is different from the United States in the future, where people will die if they pull out the tube. If the citizens are smart enough, it will not be easy to incite panic. Fortunately, the citizens of the United States have never been smart!
"In this case, many people will lose all their money and citizens will suffer great harm." Rockefeller Jr. was silent for a long time, his heart was still not as black as that of a real slave owner.
"I have only seen people one by one, and never seen what citizens are." Sheffield said in a long tone, "Now citizens only know that it was the bankers who caused all this. What does it have to do with me? Is it because I am too smart and exposed the bankers' internal strife? I think citizens should thank me. Without the honest William, they would be kept in the dark all their lives, from being born ignorant to dying ignorant."
Before, Sheffield, Rockefeller and Morgan had all sensed the crisis and prepared secretly, hiding it from the others. But now, we can see what the three want. In fact, from the perspective of Rockefeller and Morgan, the crisis is best controlled. After clearing out a group of opponents, they can buy at the bottom, merge and grow stronger. This is a routine operation in an economic crisis.
But the slave owner also knew that this crisis would break out. After Sheffield joined in, things were no longer the same. Sheffield had different interests from the two families. He hoped that the crisis would last longer so that all unqualified companies could be eliminated. He had so many women, and his children would have to share the inheritance in the future.
So, as a good father, how could he not take advantage of the opportunity to make more money? Besides, both of you are from New York, but the slave owner is not. He is from Texas. For regional sentiment, because of the Civil War, and for many other reasons, he must not let go of such a good opportunity. He and foreigners can pretend to be greedy, but he doesn't need to be so polite to the Yankees. Anyway, the Yankees now also think that you are a greedy banker bastard, so why be polite? Heretics must die!
Rockefeller Jr. asked Sheffield to stop, but Sheffield refused bluntly and said that it was either a big profit or no profit. Today, no one can stand in front of him and plead for mercy. The arrow has been shot and there is no turning back. The matter has been settled.
After knowing that Sheffield would not change his mind, Rockefeller Jr. hung up the phone, but called again less than half an hour later, "William, if you insist on doing this, then in the end, no one will make any money. If you can agree to one of my requests, I will mobilize all the power of the Rockefeller family to help you realize your idea, and then everyone will rely on their own ability to buy at the bottom."
Sheffield narrowed his eyes when he received the call again. Just as he was about to speak, his eyes glanced at Edith Rockefeller's embarrassed face. His heart softened and he sighed, "You want the oil fields in Texas? I know that you have wanted it for more than a year or two, but you just never seized the opportunity. This time is also a good opportunity for you."
Because of the cost, the output of Texas oil fields has already exceeded half of the United States' domestic oil production. The contract signed by the Sheffield family and the Rockefeller family was a temporary contract for ten years!
As the Texas oil fields became more and more important, the Rockefeller family, a trust whose main business was the oil industry, would be lying if it said it had no idea at all; it just never had the opportunity.
"The contract will be automatically extended for 20 years. The Rockefeller family is on your side." Rockefeller Jr. directly offered an additional price. With the participation of the Rockefeller family, the time it takes Sheffield to win the battle over the financial crisis will be greatly shortened.
Rockefeller Jr. also had his own considerations. According to various assessments, the total amount of oil reserves remained unchanged, and most of the value of an oil field had been squeezed out in twenty years. The Rockefeller family would not have to worry about it in the future.
Sheffield's expression remained unchanged, as if he was considering it. Under Edith Rockefeller's gaze, he said, "Okay, it will be automatically extended. Within ten days, we will use all our strength to make the market crash, and then buy at the bottom."
After that, he hung up the phone, looking as if he was forced. Edith Rockefeller saw this and whispered, "I'm sorry, John is also a businessman and needs to consider the Rockefeller family."
"The money cannot be earned by one person alone! Even if I operate on my own, I can't buy everything after the crisis. The federal government won't agree either!" Sheffield held back his laughter and made a perfunctory and sad attempt to comfort her.
In Edith Rockefeller's eyes, Sheffield made concessions for her own sake, which made her feel bad. She threw herself into the arms of the slave owner and said sentimentally, "I'm just an old woman."
"She's still the mother of my children! Thirty-something isn't old." Sheffield said, stroking Edith Rockefeller's hair.
If you think about it, you will know that Rockefeller Jr.'s 20 years must have been influenced by the idea that oil is a valuable non-renewable resource! This is the problem! Although the United States' oil-based enterprises were owned by the Rockefeller family, it was Sheffield who did the most to promote this theory. The relationship between the slave owners and the five major publishers, plus the media in their hands, made this theory widely accepted.
In fact, Texas oil fields are still working in the 21st century! In the consideration of the United Company, the oil industry is of course important, but it is absolutely not like the Rockefeller family, who directly placed the foundation of the United Company on it.
Moreover, Sheffield was not panicking at all. As the Pasha of Kuwait in the Ottoman Empire, he had nothing to panic about. How could the cost be lower than Kuwait? On the contrary, the threat in front of him was more important than the oil in Texas, and this threat was not Morgan.
It's the current federal government and President Roosevelt in the White House. If it were another president, there would be no need to be so cautious. No matter who the president is, they would have started fighting and were lawless. But during President Roosevelt's term, he still needed to think carefully about tearing his face apart and fighting to the point of having no bottom line.
The most important thing is speed. We need to make the crisis widespread and serious enough in the shortest possible time. Over time, Roosevelt, the problem child among all the presidents, might find a way to use administrative power to intervene. To catch everyone off guard, it would be best to have the Rockefeller family to help.
At least at this point in time, having the Rockefeller family standing shoulder to shoulder is still more beneficial than harmful to Sheffield.
Sheffield could be sure of one thing today: Edith Rockefeller would serve him with all her tenderness.
(End of this chapter)
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