1850 American Gold Tycoon.

Chapter 187

Leaving La Porte, Texas, Liang Yao took Vanderbilt's ship and his gold to New York, the largest city in the United States.

On the way to New York, Liang Yao came up with the idea of ​​New York Gold.

This is not his sudden idea, but the early financial market, even the most mature London financial market at the same time, is full of loopholes.

According to the information Henry collected for him, Liang Yao was pleasantly surprised to find that there were gold futures on the Wall Street trading market in New York.

Futures did not originate in New York, the most economically developed city in the United States, but in Chicago during the Western Development in the [-]s and [-]s.

It is no accident that futures originated in Chicago. Chicago is a distribution center for materials, the most important of which is food.

Food production is seasonal, but people's demand for food is not seasonal.

Every time the grain is harvested, the grain inventory in the local market in Chicago greatly exceeds the market demand, causing the price of grain to fall again and again.

In the spring of the following year, there was not enough food in the market, but people's demand for food did not decrease, so the price of food in Chicago was extremely high in this season.

Stimulated repeatedly by the conflict between supply and demand, Chicago grain merchants took the lead in taking action. They set up warehouses next to major traffic arteries, purchased grain from farmers during the harvest season, and sent it to other places in the coming year, thus alleviating the seasonal contradiction between grain supply and demand.

But in this process, the grain merchants also took a lot of risks. If the purchase price is higher than the selling price, they will lose money.

Therefore, after purchasing grain, they immediately signed a supply contract with a grain merchant in Chicago for the next spring, and determined the sales price in advance to ensure profits.

This is the formation of early modern futures, which basically revolved around farm products.

This kind of futures trading has actually appeared a long time ago, but it was the businessmen in Chicago who really explored a mature futures trading system.

These Chicago businessmen initiated the formation of the Chicago Board of Trade in 1848, the first futures exchange in the modern sense.

Liang Yao didn't expect that Wall Street's awareness was quite advanced. The Chicago Stock Exchange had only been established for more than three years, and Wall Street had also started playing with futures, or gold futures.

"You can buy a gold contract worth $10 million with only a $1000 deposit. These financiers on Wall Street are a bit too ambitious. This is a 1% leverage ratio."

Looking at the collected information, Liang Yao exclaimed that the leverage ratio of the futures market in future generations is generally around 5%, and basically will not be lower than 5%. A leverage ratio of 1% is scary when you think about it. Greed is what most people imagine.

How many gold coins are in circulation in the American market, Liang Yao does not know.

But one thing is certain, and that is that America is very, very, very short of gold coinage.

Excluding the California dollar coins issued by Liang Yao in California, the sum of all the gold coins in the United States may not be as much as the gold held by these rich people on this ship.

Liang Yao can easily leverage the gold market on Wall Street, and even manipulate the gold price on Wall Street.

In the United States, the only one with more gold than him is the federal treasury of the federal government.

"You want to leverage the gold market on Wall Street?"

Vanderbilt frowned.

"Now we do have the ability to leverage the entire American gold market, and a mere Wall Street gold market is naturally a no-brainer.

It’s just that I’m not sure how much gold there is in the Wall Street gold market. The gold in the Wall Street gold market is only worth one or two million U.S. dollars.

For this little gold risk, I don't think it's worth it. "

In the entire United States, I am afraid that only these gold tycoons on this ship have such confidence.

"Of course that bit of gold on Wall Street doesn't come into my eyes, but what if the Treasury Department comes out to rescue the market? The gold stored in the Treasury Department's federal treasury is still quite considerable."

Of course, the gold in the Wall Street gold market can't scrape much oil and water, but it's different when the Ministry of Finance comes forward to rescue the market.

"The Ministry of Finance came out to rescue the market? Are you so sure?"

Vanderbilt was skeptical.

"The Ministry of Finance has to save the gold market in the United States." Liang Yao said confidently, "Agricultural exports are the largest export in the United States. The British and French don't recognize dollars, they only recognize gold."

Vanderbilt and his old buddies were puzzled and couldn't keep up with Liang Yao's brain circuit for a while.

Kony reacted quickly: "Sir, I understand."

"Kony, tell me."

Liang Yao intends to give Kony a chance to show off, and asks Kony to go on.

"Our current tariffs are already high, which is not conducive to the export of farm products. If the price of gold remains high, it will be even worse for domestic exporters in the United States.

Neither the British nor the French will be willing to buy expensive American agricultural products any longer.

These exporters are bound to put pressure on the government to ask the Ministry of Finance to come forward to control the price of gold in the market.That's why you said the Treasury had to talk about the gold market. "Kony rationalized his thoughts and said.

"clever!"

Liang Yao patted Kony on the shoulder and said appreciatively.

Agriculture is one of the few channels through which the United States can export foreign exchange (gold), so there is no reason for the Treasury Department not to use gold from the federal treasury to intervene in the gold price in the market.

The negative impact brought about by the sharp depreciation of the dollar against gold is not something the federal government can bear.

Based on these two points alone, the US government has to come forward to stabilize the gold price in the market, even if they are unwilling to do so.

"It's true that you can easily earn a little pocket money by doing this, but it will also offend people in the government, especially those in the Ministry of Finance. Minister Curwin of the Ministry of Finance has a very good impression of you. You are sure that you want to destroy What impression do you have in Your Excellency Curwin's mind?"

After thinking for a long time, Vanderbilt said that he did not want to be an enemy of people in the government department, but only wanted to make money steadily.

"I am different from those speculators on Wall Street. I can control my greed and know when to sell and when to stop." Liang Yao said very confidently.

"It's time for the federal government to take care of the chaos on Wall Street. I'm just reminding Mr. Corwin."

"Before you started business, I always thought you were a gold mine owner who could only dig gold mines. After you got involved in business, I always thought you were an industrialist. I didn't expect you to know something about finance." Vanderbilt said with emotion road.

"It seems that in the financial market on Wall Street in the future, I will have to guard against you."

"No, I'm an industrialist. Without industrial support, finance is just an attic in the sky that can collapse at any time." Liang Yao said, "This time I got involved in the gold market on Wall Street, just to earn some pocket money."

"I have been thinking about one thing for the past few days and want to make a decision. This decision is the most difficult decision in my life." Vanderbilt said without changing the topic of gold.

The next topic, more important than earning pocket money in the gold market, was about the future of the Vanderbilt family's business.

"What decision?" Liang Yao asked curiously.

(End of this chapter)