Mediterranean hegemon

Chapter 34 The Big Short (21)

Contini said coldly: "Now, as the president of United Group, I will announce two important news: First, in order to consolidate the foundation of liquidity, United Group announced that it will abandon all industrial equipment purchase contracts that were signed and paid deposits last year. The total amount involves US$4.4 billion, of which US$500 million has been paid as a deposit, and the Group has made full provision for bad debt losses; secondly, United Group will continue to reduce its holdings of stocks to supplement the liquidity required by United Bank to cope with the borrowing. The pressure of not renewing the loan after the term..."

He pounded the table and continued to emphasize angrily: "Isn't it more than 3 billion US dollars in credit exposure? I have never seen so much money? I can't pay the debt? What a joke! Our group spans Europe without a single defeat, and has The most complete industrial system in Italy and even in Europe, everything from compressed biscuits to instant coffee to aircraft, tanks and warships, what kind of products can’t be produced? It is backed by the Italian state power and the Youth League, and its oil guards have all the sea, land and air forces, "The Times" Calling our group the fourth largest armed group in the Mediterranean, with the support of 40 million Italian people armed with the great idea of ​​three flags, will I be afraid of mere economic pressure and political persecution? Can these overt and covert constraints make me bow? What a joke! I joined the revolution at the age of 19. What kind of big scene have I not seen? Come on! Let’s hurt each other to see who can’t stand it first!

God! This must be crazy...

Everyone exclaimed, and many people couldn't help but stand up in their seats.

While filming this rare scene, a photographer whispered: "Is the CEO an idiot? He just gave up the $500 million deposit and made 500 million for others in vain!"

The others looked at him like a fool.

He asked in a low voice, embarrassed, "Did I say something wrong?"

"Giorgio, you are right. The president did lose 500 million, and may have to postpone his promise to rebuild an Italian industrial system for 10 years. But you have to know that the United Group only lost 500 million, while our domestic enterprises will lose at least 100 million. More than 500 million, even if you include the 500 million you got in vain, you will still lose more than 500 million..."

"Why? If he doesn't pay, we don't have to deliver the order."

"These orders have been signed one after another since last year, and have lasted for a year now. Many impatient companies even started production when the memorandum was signed. At least I found several large companies that have already produced a lot of equipment or partially produced it. ...The money they invested is more than 500 million. "

"So what? If you don't deliver, you'll make 500 million in vain. These things can be sold to others..."

"Who are you selling it to?" someone said coldly, "You think it's a piece of clothing and a pair of trousers. This gentleman can't sell it to other gentlemen. Only a few countries in the world need large complete sets of equipment. At this time, the British and French industries Weak, the Soviet Union does not have enough paying capacity. Apart from the grand plan to double the Italian industry in 10 years, who else needs so much equipment? The United States itself does not want it. We have enough equipment, and any more will be overproduction; retreat. To put it another way, even if there are potential buyers, can the equipment customized for Italy be easily used in other countries? Can you continue to accept this price without taking the opportunity to lower the price? To give you the simplest example, you ordered an extremely expensive set for the bride. The dress, and the size of this dress is very special, and other brides basically don’t need it. Now you say that the bride regrets the marriage and doesn’t want to get married. Of course, you have lost the deposit for this wedding dress, but the boss who made the wedding dress has lost even more!”

"Oh...that's it, that's it..."

"Taking a step back, these things have been reflected in the stock price in advance. Why did the stock market rise from 280 points to more than 450 points in just over a year? Isn't it because of the stimulus brought by these industrial orders? Investors Profit for these 4.4 billion orders was calculated as a net profit of US$1 billion, and was reflected in the stock price in advance. Now it will lose 500 million US dollars, and the net profit will be reduced by US$1.5 billion - estimated at a price-earnings ratio of 20 times. That’s equivalent to a loss of 30 billion in market value! Even if we estimate the current dynamic price-to-earnings ratio of 14-16 times for large blue-chip stocks, the market value will be less than 20 billion... Now the total market value of the stock market is less than 60 billion, what is the concept of losing 20 billion in market value all of a sudden? ?The stock market will crash."

With a "boom", the word "collapse" woke George up. He finally understood why the president just expressed his feelings in a furious and angry tone. He thought it was just a hysterical vent by a young man, but he didn't expect that there was such an important thing behind it. And serious logic.

This declaration immediately stunned everyone. Before everyone could recover, Contini had already begun to leave the stage surrounded by bodyguards.

The reporters gave up and stood up one after another to retain the president, hoping that he would continue to be interviewed. Contini's face was "pale", his steps staggered, and he said uneasily: "I'm sorry everyone, I'm in a bad and depressed mood at the moment. I'm afraid I won't be able to restrain myself from getting angry. I promised the president not to curse people or criticize relevant administrative agencies in public, so I can only say sorry first... Mr. Francisco is more stable than me. He will stay to accept questions. I will leave first. , I need to take a rest, I won’t be able to hold on anymore..."

Enzo shouted from the side: "Make way, make way, everyone, the president is not feeling well and in a bad mood. Please be considerate and considerate..."

The president's guards in black uniforms pushed aside all reporters blocking the way with expressionless faces, and escorted Contini back to the Union Bank headquarters as if they were escorting a tank. Not long after, Livermore also came back - he hadn't gone home in the past few days and had been staying at the Union Bank. The guards recognized him, so they didn't stop him but let him in smoothly.

Seeing Livermore come in, Contini's face was full of joy. He didn't look a bit depressed just now. He waved and said: "Let's go and have a drink with me. I have good brandy there. It was a gift from French Prime Minister Poincaré." For me..."

Livermore nodded, bowed, and complimented: "You are a unique investment master in the world. You have evolved your strategy to perfection. We can only talk about tactics. I am so lucky to follow you."

Contini shook his head: "Actually, this is not the case. This is the great power of the market. It is impossible for me and the United Group to overthrow Wall Street. Although I have strong strength, compared with the United States and Wall Street, this A little strength is not enough, they can easily grind me into powder. However, there are always two sides to the matter. Although my strength is not enough to compete with Wall Street alone, I have a fulcrum and a great leverage-if not. The stock has climbed to such a height that if it weren't for American investors adding leverage to the point of no return, if it weren't for such a capital frenzy and all the power behind it, I wouldn't have to think about what happened next... I was Following the trend, it may only take a roar to push an avalanche, but stopping an avalanche is beyond human power.”

"Now your most deafening voice is roaring out... The avalanche is inevitable, and what I'm worried about is..." Livermore hesitated before speaking, and finally said, "Your safety!"

Contini laughed loudly, raised his glass and motioned for Livermore to follow him - go down and have a look. Under the leadership of Enzo, Livermore visited Contini's tanks, armored vehicles, and Hummer assault off-road vehicles. When he saw the hundreds of CEO guards who were killing him, Livermore couldn't help but take a breath: It's in the hands of the president. This small amount of force is enough to storm Manhattan and control New York tomorrow.

"I have no intention of armed confrontation. These guards are just to protect me when I go to the dock. I have no intention of being an enemy of the American military machine, but I am not someone to be trifled with..." Contini pointed to the battleship in the direction of the port, "See No? The Italian warships are anchored at the New York pier. They are my strongest backing. The 12-inch naval guns on them are enough to completely wipe out the New York port area - of course this is just a threat and not the result I want. I only hope Those consortiums that are so powerful and stupid can truly realize this. The United Group has their unrivaled power. What is the national policy group? The United Group is a national consortium protected by the Italian navy and air force. The fourth largest armed group in the Mediterranean is not in vain! I am here to make money, not to fight, but if the consortium wants to compete, I can accompany you! They are no match for either soft or hard tactics."

Livermore finally knew what kind of person he was following - he was completely prepared. From the first day he stayed in the United States, he began to carefully plan for this avalanche - but he How did you spot the signs of a U.S. market collapse? He thought he had seen it clearly enough, but he had only been sure of it in the past six months. How did the president see it?

In fact, he didn't know that Contini himself was sweating: in history, the highest point before the U.S. stock market crashed in 1929 was only 370 points, and the market value was more than 60 billion, but because of his interference and The continuous penetration into the U.S. industrial system and economy has made the U.S. economy and stock market more prosperous than in history. It is simply an incredible miracle that it has exceeded 450 points, a point that was never dreamed of. However, no matter how high the points are, there will be a time for a correction. , the U.S. stock market continued unswervingly according to its own inherent laws, until it finally collapsed!

There is only one fuse away from collapse, and Contini used his own US$500 million to make the fuse - the most expensive fuse in history, equivalent to 20 top battleships! But the market triggered by this fuse will collapse by 30-50 billion.

The New York Times published a large cartoon on September 23: The vilified CEO stabbed 6 knives in his body, then raised the bloody knife and continued to say to the market - I am going to take the knife, you guys Are you afraid?

Contini laughed at this and told his entourage to buy the original painting and frame it - and put it in his office in Rome from now on!

The reason why Contini wants to take Livermore to see the force is to strengthen his confidence. Otherwise, if Livermore is worried about being an enemy of Wall Street and wavers, the situation will be complicated, and there may be the possibility of falling short. Let him He saw tanks and armored vehicles, and he saw warships, which was enough to strengthen his confidence!

He patted the other party's shoulder, drank all the brandy in his glass, and said with a smile: "My work is done, and it will be up to you tomorrow..."

Livermore nodded with a smile and drank the same drink.

Aquilani came over and whispered: "President, President Hoover called. He is very anxious and asked me to call you no matter what."

Contini waved his hand: "Just say I'm in a bad mood... No... is smashing things!" After that, he smashed the Bohemian crystal cup in his hand.

The latter understood, and soon there was a ping-ping-pong-pong sound on the other end of the phone, and then Aquilani said in a very respectful tone: "I'm sorry, Your Excellency, the president. The president is in a very bad mood. He was smashing vases and glass. Just now That glass shard almost got me... Pull him? Who dares to pull the president? You know his temper..." After that, there was another "bang".

Livermore gave the film a thumbs up, saying it was worthy of an Oscar. This award was only established last year and is considered the highest honor in Hollywood.

Hoover put down the phone angrily and anxiously discussed countermeasures with other staff. He was about to take a bath and rest, and someone unexpectedly called him. He was so shocked that he picked up the phone and called Conte without saying a word. Ni Da wants to save the situation no matter what, but Contini refuses to answer his call now, and everything he says is in vain. He can only hope to communicate with him tomorrow when he is in a better mood. It was only today that he realized that Wall Street had put a lot of pressure on the United Group. From their standpoint, this was understandable - but who had really thought about this country?

They are all a bunch of fucking bastards!

You are all a bunch of fucking bastards who turn their hands into clouds and rain!

He angrily smashed the vase at home to vent his anger, and his wife said coldly beside him: "The president can smash the vase as he pleases because he is rich. Even if things get messed up, he will lose 500 million at most, and then he will pat his ass and go back to Italy. No one will You can’t do anything to him. What if you mess up? You don’t want to be re-elected?”

These words made Hoover wake up from a dream, and he couldn't help but said: "What do you think we should do?"

"If the market can be saved, you go to the president to communicate; if it can't be saved, you need a scapegoat..."

"I'm afraid it can't be saved... It's going to collapse... The United States is finished, at least the stock market is finished!"

"Then find a scapegoat..."

"Well said! Madam, you have never been as wise and far-sighted as you are today... oh... except for choosing me as your husband." Hoover's mentality suddenly improved a lot, and he even did not forget to joke, "Add Lai will definitely take the blame..."

"You haven't gotten out of your misunderstanding yet... you picked the wrong person." Madam smiled, "Why do I think it would be more appropriate for the Federal Reserve to be the scapegoat? As long as this matter is settled and the government's responsibility is cleared, you and I will Bet it doesn't matter if the president pays for your re-election - you have no idea how much money he has! Are you going to side with a Fed that doesn't listen to you, or with a president who is your brother-in-law and has your die-hard support? ?”

"Madam, I suddenly suspect that you have taken advantage of Calais to speak for him like this."

"Actually, it's nothing. Last year, Mrs. Agnes gave me a set of jewelry and a New York souvenir. She said it was an early gift for her daughter's wedding. Don't you have it?"

Hoover was speechless when he heard the word New York specialty. Of course he had received it too...

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