Mediterranean hegemon

Francisco gave a thumbs up. This is tantamount to taking over the power of the central bank. The United Group is not satisfied with having the second air force, and it also wants to be the second central bank.

"Liar...liar...he defrauded us of our foreign exchange and refused to pay it back! Your Excellency, Admiral, you have to help me..." After making this decision, Volpi jumped anxiously, so that the Union Bank would What can he, the finance minister, do if he is left alone? He did not dare to go to Mussolini, so he had to go to old Ciano, hoping that the latter could help him talk to Contini and let him return the foreign exchange.

"Count, what you say is not kind enough. I haven't helped you enough. Who sent the telegram to the leader? Who is responsible for dismantling the extra foreign exchange from the central bank?" Contini said, "You can't expect us to help. When I was working, I thought of United Bank. We must have a sense of contract and a spirit of contract..."

"However, it was clearly stated that the central bank could take it back at any time if needed."

"What does the central bank need? Isn't it just exchange? We took over this job. United Bank's window and service capabilities are wider than the central bank! Isn't it just to exchange foreign exchange?" Contini said nonchalantly, "This is actually nothing at all. Not difficult.”

Volpi was speechless and could only turn to old Ciano for help.

The latter was a little confused at first. What was his son doing with the central bank's foreign exchange? Besides, Union Bank also needs to exchange money, and you can’t speculate to make a fortune, so why bother doing such offending work? But after Francisco whispered a few words in his ear, he understood: It's the same as exchanging foreign currency, and you have to be careful about who you exchange it for. This is a great power at the moment.

"Well, let's not argue anymore. I'll call the leader and listen to his opinion on who should handle this matter."

Having said that, Volpi did not allow any questioning. He directly picked up the old Ciano's phone and called the Prime Minister's Office. After listening to Contini's report, Mussolini was also a little confused. Why did the United Bank compete with the Central Bank for this right? ? But then he understood what Contini said next: "Leader... I will release foreign exchange according to the needs of the actual market and ensure that it will not be left to speculators. Of course, I will definitely take care of the work or special needs of the party and the leader. You I will leave you a quota of 100 million US dollars, and no one is allowed to use it without your warrant."

Volpi was stunned, what else could he do?

Old Ciano shook his head, don't argue about this matter, it's useless to argue, his son's words are almost certain.

Sure enough, Mussolini understood it, but he said: "Calais, you are very thoughtful. The Union Bank has foreign investors and an international background. I think it is appropriate to exchange foreign exchange here. Once a run occurs, it will This approach will not endanger the credibility of the central bank. However, you cannot just consider the US$1.2 billion. You must consider the national economic and financial situation. As the national economic stabilizer, the United Group must stand up and play the main role at this time. Stabilizing market confidence is more important than just a little bit of foreign exchange! Of course, you need to communicate more with His Excellency the Count on specific business matters. After all, he is involved in all aspects and is in charge of national finances..."

"Understood, I will definitely ask the count for instructions on the specific situation..."

Francisco raised his thumb and raised it towards Volpi in a demonstrative manner. The latter smiled bitterly and shook his head. They said that the president was overbearing. Today he finally learned that he didn't give people any gaps.

"Your Excellency, you can rest assured that foreign exchange is with me. We will not use it for speculation, so we will not allow others to use it for speculation. I will ask the bank to carefully verify the expression of the foreign exchange exchange, which is more than history." We will reject all exchange requests for foreign exchange quotas, including Fiat..."

In fact, a big conglomerate like Fiat would have trouble if it didn't take the opportunity to cause trouble, but now that the foreign exchange is stuck in Contini's hands, there is no way. Of course Francisco knew the beauty: United Group could decide on its own who to issue foreign exchange to, and this was a killer in the market that mobilized the crowd and expanded its influence.

Sure enough, when they heard that foreign exchange was concentrated in the hands of the United Bank, speculative capital became worried: to impress the central bank to release foreign exchange, it only costs a small price. How much does it cost to bribe the president? Who can afford this money? Other companies in the market that really need foreign exchange and have had dealings with United Bank are almost crying out. When United Group faced the bank's debt squeeze, they firmly stood on the side of the president. Will they have to engage in foreign exchange now? Are we stuck?

The situation is not as optimistic as they thought, but it is not as pessimistic as other observers who believed that the United Group planned to monopolize it. Foreign exchange was still continuously exchanged under control, but a closer look showed that there are prerequisites: a close relationship with the United Group and Those who do have import and export business will be fully satisfied; those who are closely related but have no business or have a small business volume will be partially satisfied; those who are not closely related but the business is indeed satisfied will be partially satisfied; those who are neither relevant nor have any evidence and are just speculating, sorry. , your exchange request was not said not to be exchanged to you during the review. After all, Fascisti does not recognize foreign exchange control...

Of course, there were a steady stream of calls to old Ciano and Francesco, but they all smiled and asked them to call Contini directly. But do they really want to call Contini? Speculative capitalists are worried. What should they say when they meet the CEO?

But someone spoke up and successfully exchanged foreign exchange from Contini. Who was it? Adriana!

Contini gave her a limit of 1.2 million US dollars and told her with a smile while filling out the check: "This is your private money. You haven't received last year's dividend yet. You can exchange it with whoever you like, but you will lose money in the future." Don't come crying in front of me..."

This was the CEO's family matter, and Francisco could only pretend that he didn't see that he not only had a father who was a deputy mayor, but also gave birth to a son, and he wanted to give him the face of 1.2 million. Besides, Contini took it out of his own pocket. Vivian had just spent $1.7 million in New York, so he couldn't say anything more.

Apart from this, there is no such simple trick as asking for success to control the exchange army. The facts are obvious here. The foreign exchange demand for normal foreign trade is enough to meet the demand. The current massive increase in foreign exchange demand is completely driven by speculation and is not worthy of recognition.

However, Francisco is also a little worried: Will controlling external rumors in this way be more detrimental to the stability of the lira currency?

Contini nodded: "There is no doubt about it, but we cannot expect to maintain foreign exchange on the one hand and not let others question it on the other. As time goes by, the rumors will subside. Now is a critical moment. I would rather I don’t want to show my cowardice with nothing at the critical moment even if I’m holding foreign exchange in my hand and being attacked.”

July 16 was the last delivery day for the July crude oil contract, but there was not so much crude oil available for delivery on the market. Therefore, there was a frenzy of buying and liquidating, which in turn pushed the price back up a bit, but soon Leo told him that not only the August contract, but now the September contract is falling rapidly.

"Don't they care about the liability for defaulted delivery?"

"No! Persian Oil Company is ready to meet the market's delivery needs, while U.S. crude oil is ready to flood in to meet delivery needs."

"U.S. crude oil?" Contini was stunned for a moment, "It is not profitable to deliver U.S. crude oil. The current market price in the United States is higher than that in Europe, and it has to be shipped back. This is a completely loss-making transaction!"

"But people may not mind the loss of a few cents per barrel here. They will absorb all our foreign exchange and at the same time leave the delivered crude oil with nowhere to put it. This is a big problem!"

"I understand, let them do it." Contini thought for a while, "Be prepared and plan to continue financing from the U.S. market."

"I mentioned it before. The prices offered by several major banks are above 5%, and the quota is not large, only around 500-100 million."

"Okay, let's integrate according to this level, three years!" Contini said, "We must prepare for a rainy day and accumulate some trump cards, otherwise we will be too passive."

"What about the crude oil contract in the market? Continue to make money?"

"Continue to be open to acquisitions in accordance with the reserve regulations, and don't be afraid to spend money..." Contini thought for a while, "The focus is on the August contract. We must find ways to stabilize it and eat as much as we have!"