Chapter 3 Chapter 2
Highlights of this chapter: The real cause of the financial tsunami lies in the manipulation of international financial speculators.The U.S. central bank has adopted a low-interest rate policy since 2001. Due to the cheap products exported by China, the U.S. low-interest rate policy has been able to continue, so that consumers have borrowed a large amount of low-interest bank credit, creating a bubble consumption, which in turn stimulated my country’s economic growth. exit.The financial tsunami led to the bursting of the consumption bubble in the United States, which impacted China's exports.
How do international financial speculators play this game?How did they create an unprecedented international financial tsunami? Since 2001, there has been a strange phenomenon that the United States has gradually abandoned manufacturing. Bernanke, Paulson and Greenspan were right. Why do Americans have the money to consume so much foam? Americans are used to bubble consumption, and we have a problem. In the 19th century, there was a great imperialist country called Britain, which was the kidnapped country.Do you remember what we called England in the 19th century?Empire on which the sun never sets.In other words, no matter where the sun shines on the earth, there is the flag of the British Empire.So what happened to the British Empire in the end?What happened to the people of the British Empire? I am here to tell you the words of Adam Smith, who commented on the British Empire at that time in his famous "The Wealth of Nations": "...the rulers of the British Empire in the past 100 years, let it The people of the country happily fantasize that they have a great empire on the west coast of the Atlantic. But this empire has hitherto been only a phantom. It is not an empire, but a project, a plan. It is not a gold mine, but a The project of a gold mine, a project requiring continuous and perpetual payment, is a very expensive project. The maintenance of the colony will be incalculable if it goes on in this way. And this Who is monopolizing the colonial trade? Please note that it is monopolized by the capitalists of the British Empire. They have monopolized all the interests of the British Empire, and they have kidnapped the British Empire. Therefore, they will not bring any benefits and benefits to the British people ...for the people of the British Empire, which constitutes the majority of the population, there is only loss and no gain..." When Adam Smith wrote "The Wealth of Nations", he was as famous as Marx.For writing The Wealth of Nations, Adam Smith is known as the father of modern capitalism.As the father of capitalism, Adam Smith actually looked at capitalism in this way-the British Empire was kidnapped by capitalists.How did the British Empire invade China?It was with the trade of the East India Company as the forerunner and the gunboats of the British Empire as the backing that it opened a page of humiliation in our Chinese history. Imperialism has changed its face today. It is no longer led by the East India Company, nor backed by gunboats, but led by internationalization and backed by finance.In the past, capitalists were engaged in industries, but not anymore. Now it is Wall Street, also called financial capital, or international financial speculators, that drives European and American governments.Regarding the international financial speculators, frankly speaking, the whole world does not know who they are, and they are even unwilling or afraid to mention their names, because they currently control the whole world.This financial tsunami is the result of careful planning by these financial speculators.Due to the impact of the financial tsunami, a large number of financial institutions are facing the risk of bankruptcy.Once these financial institutions fail, it will trigger a domino effect, which will impact the real economy.In fact, it has already caused an impact. In the fourth quarter of 2008, the U.S. GDP fell by 6.3%, and in the first quarter of 2009, the U.S. GDP fell by 5.8%. What is the US government doing at this time?The US government is spending a lot of money to save the market.For the first time, the U.S. government decided to spend 700 billion U.S. dollars to directly help these financial institutions, because only by resuscitating them can the dominoes behind them not collapse. Production leads to bankruptcy of enterprises, which in turn leads to unemployment, which in turn affects consumption, thus forming a vicious circle.But the common people in the United States turned out to be against it, because they knew who caused the trouble.This situation is the same as the British Empire I just mentioned.The capitalists of the British Empire kidnapped the people of the whole country. This time, the international financial speculators kidnapped the American people. They wanted to use the hard-earned money of the American people to help these international financial speculators who got into trouble. Therefore, the American people refused to pay the money. Therefore, the U.S. House of Representatives rejected the $700 billion bailout plan on the spot.On the day of the veto, global stock markets plummeted, starting with the United States. What will happen if the stock market crashes?The pensions of the American people are all placed in the U.S. stock market. In order to achieve their own goals, international financial speculators have jointly acted to cause global stock prices to plummet, and the American people have suffered a lot as a result.So ordinary people were kidnapped, and Congress finally passed a $700 billion bailout plan to help these financial institutions. How was the $700 billion spent?Among them, 250 billion U.S. dollars was directly injected into banks. According to a survey by the American media, 21 banks received more than 1 billion U.S. dollars in funding. When the media asked about the purpose of the 1 billion U.S. dollars, they all refused to answer.Therefore, the media judged that part of the money should have entered the pockets of financial speculators. Some readers asked me, if these international financial speculators are really so bad, how did they bring down their own companies?I laughed out loud when I heard this, because the readers are too naive—financial speculators benefit from "personal" interests. What does the collapse of their financial institutions have to do with them?The bankruptcy of the company hurts the shareholders of the majority of financial institutions. Do these "individuals" care about others? Let me give you an example.What did these financial institutions do after receiving the aid funds from the American people?After the financial tsunami, the "individuals" of these financial institutions received a total of 18.4 billion US dollars in bonuses in 2008, just like the bull market in 2004, which is unimaginable.The bosses of Citibank "individuals" are going to spend 50 million US dollars to buy a private jet after they get the money. After AIG received $170 billion in funding, its top executives "individually" spent $5 million on vacations at top clubs.These examples are all "individual" behaviors, so angry that the U.S. Senate yelled at them, so President Obama said a word in early February 2009. He said: "...you international financial speculators (note that Obama cursed 'individuals') Irresponsibility to the extreme, shameful. What we should do is show your restraint, self-control and sense of responsibility than those on Wall Street who keep reaching out to the government for rescue..."You can only yell at them, you What else can be done?The same reprimand existed in nineteenth-century England. I remember that Adam Smith scolded the capitalists at that time in the same tone in "The Wealth of Nations".Here's what he said: "... denounce these capitalists for exploiting the workers by manipulating and bribing politicians..." Adam Smith not only lamented the poverty of the workers, but also deeply felt their mental decline. He strongly condemned the capitalists. .Note that he vehemently condemns capitalist greed for destroying the soul of capitalism.Is this sentence similar to what Obama said? International financial speculators kidnapped the US government, let's see how they kidnapped.The U.S. Department of the Treasury asked Bank of America to acquire Merrill Lynch. After Merrill Lynch was acquired, the CEO John Thain was replaced. This person was originally the biggest international financial speculator-Goldman Sachs.Take another look, the CEO of the New York Stock Exchange has also been replaced by Nid Auer, a former employee of Goldman Sachs Group.In addition, AIG also changed after accepting a capital injection of 170 billion U.S. dollars. Its CEO was replaced by Edward Liddy, the former Goldman Sachs.After Wachovia accepted the capital injection, the chairman was also replaced by someone from Goldman Sachs, named Robert?Steele.In other words, when the U.S. government used the money of ordinary people to rescue these hard-hit banks, including Citigroup, AIG, Wachovia, etc., all of their top leaders were replaced by international financial speculators-Goldman Sachs executives. In other words, Goldman Sachs has complete control over everything.Which company did former U.S. Treasury Secretary Paulson come from?Goldman Sachs.Which company did President Clinton's Secretary of the Treasury Rubin come from?Goldman Sachs.Which company is the chairman of the American Stock Exchange?Goldman Sachs.Which company came from the chairman of the American Futures Exchange?Goldman Sachs.Which company did the vice chairman of the US Securities Regulatory Commission come from?Also Goldman Sachs.Seeing this, I believe all readers understand.Goldman Sachs is just a company, and the international financial speculators headed by Goldman Sachs have already controlled the US government, because the Securities Regulatory Commission, the stock exchange, and the futures exchange are all owned by them, and they control the management of all large funds.As long as you control a large fund, you control a listed company, because a large fund is the major shareholder of a listed company. They even control US policy.It seems that the right to appoint personnel for these companies rescued by the U.S. government is not in the hands of the U.S. government, but in the hands of Goldman Sachs Group, and Goldman Sachs sends people to assume important positions.What I listed above is just a small part. Goldman Sachs Group is the most important one among international financial speculators. Its people are all over the United States, controlling finance, economy, funds, stock exchanges, futures exchanges, the Securities Regulatory Commission and even the government.Rubin, Secretary of the Treasury; Paulson, Secretary of the Treasury; Cosaine, Governor of New Jersey; Thornton, Vice Chairman of the Securities and Exchange Commission; John?Whitehead, U.S. deputy secretary of state and treasury; Bolton, White House chief of staff to President Bush; Draghi, governor of Italy's central bank; Ampa, head of the New York City Economic Development Agency; Jeffrey, chairman of the U.S. futures exchange Murphy, chairman of the Democratic National Convention Finance and Economics Committee; Friedman, chief economic adviser to the White House.This is just a part of the people who came out of Goldman Sachs Group, which is amazing enough. Don't think that Goldman Sachs has nothing to do with you.On February 2, 2009, the Chief Executive of the Hong Kong Monetary Authority, Yam Chi-gang, alluded to the manipulation of HSBC Bank. Who manipulated it?The following is my data, Goldman Sachs wrote a research report, saying that HSBC’s bad debt provision should be as high as 30.1 billion US dollars, and the loss should be as high as 1.5 billion US dollars, so the stock price of this bank will drop from 70 to 80 yuan to 49 yuan money.As soon as this report came out, HSBC's share price fell by 25% within a week, losing a quarter of its market value. Goldman Sachs wrote another research report, highly optimistic about Air Petroleum. Although our domestic securities companies, including Shenyin Wanguo, CITIC Securities, and Haitong Securities, all strongly recommend PetroChina, it is enough for international financial speculators led by Goldman Sachs to issue a contrary report. Therefore, PetroChina's H shares fell by 12.82% within a week. In 2004, when our state-owned banks were about to be restructured, Goldman Sachs published some articles one after another, slandering our country's state-owned banks, saying that they were worthless and the bad debt rate was too high, so don't want them.Who wants it?their own peers.Therefore, when CCB was listed in Hong Kong, Bank of America bought CCB's shares at a price of more than one yuan.As a result, in the second half of 2007, Bank of America announced to the outside world that due to the subprime mortgage crisis, they suffered heavy losses, but because of the listing of CCB, they made 130 billion yuan, which is equivalent to each of us Chinese paying 100 yuan. These international financial speculators swept a handful. Do you remember the Vietnam crisis?The Vietnam crisis is a great tragedy in Vietnam, which happened in April 2008.We noticed that this country had problems in 2007, but before March 2008, international investment banks led by Goldman Sachs repeatedly called on everyone to buy Vietnamese stocks, and they were finally swept away by them.There is an article called "Vietnam concept, the new favorite of Asian stocks". This article was published by "Morgan Opinion" on May 14, 2007. It said that Goldman Sachs included Vietnam in the new diamond 11 countries. Under its strong support, Vietnam's stock prices and property prices have been pulled up.Finally, in April 2008, for unknown reasons, all the funds were withdrawn, which immediately caused a sharp drop in stock prices and property prices, but the inflation rate did not fall, as high as 25%.This is the method used by Goldman Sachs and other international financial speculators. There is a company that does not seem to belong to them, called Lehman Brothers Investment Company. The intricate relationship is difficult for outsiders to understand, and I can only make a guess.Why was the Lehman Brothers investment firm forced to go bankrupt?Because its executives are not from Goldman Sachs.Of course, this company is not a good thing. It is very stupid. It lost 2 billion US dollars in 2008 and screwed up Lehman Brothers.Barclays Bank of the United Kingdom wanted to acquire it with US$1.8 billion. Eight senior executives of Lehman said that you can buy us, but you must pay our eight senior executives US$2.5 billion before the acquisition.This method is too low-level. As a result, it aroused public indignation across the United States, and it just gave the Wall Street elite headed by Goldman Sachs, including then Treasury Secretary Paulson, an excuse to die and not save you.Many banks in the United States have problems, only Lehman has not been rescued by the US government. The collapse of Lehman has affected many investors in Hong Kong and Taiwan who invested in Lehman bonds. On February 18, 2009, US President Barack Obama officially signed a $787 billion economic stimulus plan.This is another high-value economic stimulus plan approved by the US Congress after the Bush administration's US$700 billion rescue fund. Surprisingly, on the day the stimulus plan was signed, global stock markets fell sharply. It can be seen that people do not fully buy into the new president's ambitions, and many investors are worried that the economic recession will still intensify. Therefore, Not optimistic about this new economic stimulus plan. Where will the US economy go in 2009?This has become a concern all over the world.To unravel this mystery, we must first figure out how this financial crisis originated and developed.After in-depth research, Professor Lang Xianping found that there is indeed an intricate relationship behind the financial crisis.
How do international financial speculators play this game?How did they create an unprecedented national financial tsunami?Of course, we can’t say that, they didn’t create it, but they grasped the current situation and created a path that is beneficial to themselves. I would like to ask readers to pay attention to one thing. The top leaders of the US Federal Reserve (also called the Federal Reserve, which is the central bank of the United States) are usually appointed by scholars, and the US treasury ministers are basically people from Goldman Sachs, such as Clinton President's Treasury Secretary Rubin and President Bush's Treasury Secretary Paulson.I judge that there should be a very serious conspiracy in it, because scholars are easier to be manipulated.For example, Greenspan, he is a very self-righteous person, a smug old man, he has no idea that he has been controlled by financial speculators all his life.Greenspan once said: "...financial innovation is happening so fast that we can never fully understand all products and transactions. At the same time, our regulation simply cannot keep up with the pace of the industry..." That is, he admits himself that he doesn't understand what Wall Street is doing. In addition, the Basel II agreement, which is regarded as a risk control rule by our Chinese banking industry, is regarded by international financial speculators as a rubbish standard that has been outdated since the day it was released.And we are still learning this rubbish, this is our level.This is why we are helpless after the international financial speculators swept China, because we don't understand it at all.Why isn't the Fed raising the bar?What is the most fundamental reason?From Greenspan to the current chairman of the Federal Reserve (that is, the U.S. central bank, I would like to remind readers that the U.S. central bank is a private enterprise, not a state-owned enterprise, which is completely different from ours), they are all scholars. Must be able to figure out what Wall Street is doing.It is the Treasury Department that really controls the lifeline of U.S. financial policy, and the U.S. Treasury Department is basically controlled by international financial speculators such as Goldman Sachs who are familiar with the inner workings of Wall Street.After this strange combination was set up, it began to snipe step by step.As for the consequences, I believe that companies such as Goldman Sachs do not know in advance, but they can take advantage of all the mistakes made by the government to benefit themselves. So the outpost of the financial tsunami started in 2001, why 2001?At that time, Greenspan was still the chairman of the Federal Reserve. The Internet bubble burst in 2001. Because Greenspan adopted some relatively correct policies, the Internet bubble burst did not affect the real economy of the United States. In early 2001, the NASDAQ bubble represented by technology stocks suddenly burst, and a large number of established communication companies and Internet companies went bankrupt.The bursting of the Internet bubble directly led to the recession of the U.S. economy.In order to prevent this recession, Greenspan, who was then the chairman of the Federal Reserve, quickly decided to lower the federal funds rate. In the following months, the Fed cut interest rates several times, reducing the benchmark interest rate from 3.5% to 1%.It was the decision to lower interest rates in succession that brought the dot-com recession to an end after only a few months. Looking back on Greenspan’s 18 years as chairman of the Federal Reserve, he cut interest rates almost every time to prevent the spread of the crisis, and he has also become an “idol” in the minds of Americans.Someone even used a metaphor to say that Greenspan is a "God of Wealth" who "when he sneezes, it rains all over the world".So, how could the powerful Greenspan be used by financial speculators?
Amidst the praise from American public opinion, the old man Greenspan was a little carried away. It can be said that he was stunned by his interests and felt that he was great.What's more strange is that the media are overwhelmingly touting Greenspan: you are the greatest person, your financial policy is extremely great, only you really control the prospects of the United States, and only you are the savior of the United States.All of these words.I suggest that our government and entrepreneurs must not believe the flattery that people in Europe and the United States say about us. They are a country that does whatever it takes to achieve its ends. As long as it is beneficial to them, they can say anything nice. What has Greenspan done in his life?He just did one thing, lower interest rates during recessions, raise them during overheating times, and nothing else.With just such a incident, Greenspan was praised by the American media, who hailed him as the proud son of heaven, the leader of the financial world, and even the "Godfather of Finance".Let me tell you, international financial speculators can give you any bright term you want, and all your methods are under their control.Do you know which reports Greenspan looks at when making interest rate adjustments?He only reads two reports, the first is the inflation rate, the second is the labor price index, and he basically does not read the others. In other words, as long as the inflation rate is not high and the labor price index is not high, the interest rate will not be high, it's as simple as that.Why look at the labor price index?Because the most important source of inflation in the United States is the rise in labor costs.So Greenspan will look at these two indicators, as long as these two indicators are normal, he will not raise interest rates.If these two indicators deteriorate, raise interest rates.That's what he's done all his life.Very good, the international financial speculators understand.Therefore, as long as the inflation rate is not high and there is no risk of rising labor costs, they will definitely adopt a low interest rate policy even if they are quasi-Fed, it's as simple as that. In 2001, China officially joined the WTO, so multinational companies from the United States and other countries moved their factories to China one after another.In the next few years, driven by the manufacturing industry, China's foreign trade has grown by leaps and bounds, and its foreign exchange reserves have increased sharply. But behind the rapid development of China's manufacturing industry, what has the United States done?What benefits will they gain?
Since 2001, there has been a strange phenomenon that the United States has gradually abandoned manufacturing.I don't know why, as soon as labor costs rise, under the pressure of fund shareholders headed by financial speculators, American manufacturing companies begin to move their factories to China one after another. Therefore, the American manufacturing industry began to decline and be eliminated continuously, while China's manufacturing industry was in full swing and became more and more violent.More and more U.S. manufacturing industries have been eliminated and moved to China. As long as the labor cost of U.S. manufacturing continues to rise, its end is to close its doors and move to China.From 2001 to 2008, our labor cost in China increased from 700 yuan to 1,000 yuan.For so many years, the annual growth rate has been pitifully low, less than 5%.All this is because of the international division of labor.International financial speculators gave us Chinese a beautiful term called "manufacturing power", just like they gave Greenspan a beautiful term "financial godfather".When we heard it, we were overjoyed.Are we a manufacturing powerhouse?Readers, think about it, how is it possible?We are too simple. Why do the media all over the world say that China is a rising star, a rising power, and a manufacturing power?Just like they touted Greenspan in the first place.As a result, more factories have settled in China, but labor costs cannot rise at all.Why?Because this indicator is too important, this is the indicator that Greenspan values.So over the years, the cost of labor in the United States has barely risen at all. How do they suppress labor costs in China?Through the international division of labor, let China do the manufacturing industry, while all other major logistics links remain in the United States.I have mentioned an example before. After the Barbie dolls manufactured in Dongguan were sold to the United States for 1 dollar, the retail price at Wal-Mart was 10 dollars.How did the difference of $9 in the middle come about?It is created by the six major sectors controlled by the United States in the international division of labor, including: (1) product design; (2) raw material procurement; (3) warehousing and transportation; (4) order processing; (5) wholesale operation; (6) Terminal retail. This is what they call the international division of labor.Who controls the pricing power of the product?The price is determined by these six parts. In the entire "6+1" industrial chain, the United States controls the "6" major logistics service link, and China controls the "1" manufacturing link.And it is the "6" in the hands of the United States that really controls the pricing power.When they control the pricing power, they can go back and suppress the manufacturing industry.As long as we raise the price, they won't buy it, so the situation of our Chinese manufacturing industry is so difficult.If our costs go up, profits must go down.We can't raise the price because the pricing power is in the hands of the Americans.How can you make money if you can't raise the price?Our export factories can only turn around and exploit workers without giving workers a raise.This is the national strategy of the United States. Therefore, since we joined the WTO in 2001, a large number of cheap products produced by exploiting workers, destroying the environment, and wasting resources have been imported into the United States.The result is that the inflation rate, the first indicator in the United States, has remained very low. In addition, as long as American workers clamor for a wage increase, factories will move to China, so the labor price index, the second indicator, is also very low.The old man Greenspan looked at these two indicators, very good, inflation is controllable, and labor costs are also controllable.That's why the United States has maintained a low interest rate policy for several years. To be fair, this international division of labor was not created by international financial speculators, but they are good at taking advantage of this international situation, which is where they are smart. Since the US federal funds rate was cut by 50 basis points in early 2001, the Federal Reserve's monetary policy began a cycle from raising interest rates to cutting interest rates.This cycle lasted until June 2004.Many people say that the continuous low interest rate policy at this stage is an important factor that has driven the US real estate boom since the 21st century and triggered the bubble in the subprime mortgage market, and is also an important reason for the current financial crisis. After the financial crisis, in order to encourage consumption, the Federal Reserve once again lowered the benchmark interest rate from 1% to 0.25% in December 2008, and the United States has almost entered the era of "zero interest rate".So what can lower interest rates do?And what are the consequences of the low interest rate policy that Americans have implemented for many years?
After taking care of China, Greenspan's inflation rate and labor price index were brought under control.What's next?The next step is to find consumers in the United States.Simply put, if American consumers do not buy into international financial speculators, there will be no financial tsunami.But they bought it because they want to buy cheap products from China.So American consumers are linked to Chinese producers.So how to buy?For example, if you earn 1,000 yuan a month and want to buy a large-screen color TV, you need 6,000 yuan. You have saved money for six months, so you don’t want to buy it.But international financial speculators tell you through the banks they hold, it doesn't matter, you buy it, and we will lend you 6,000 yuan.We arrange a two-year consumer loan for you, and you only need to repay 252.6 yuan a month, of which 250 yuan is the principal and 2.6 yuan is the interest, which is very low.When you think about it, my 6,000 yuan is paid off in two years, and the monthly interest is only 2 yuan and 60 cents, which is so cheap.So you buy it.And you find that not only can you buy one TV, you can buy three TVs.However, the bank said, don't just buy a TV, you can buy a mobile phone, buy a DVD, you can buy anything.In the end, ordinary Americans are addicted, and they are used to buying these products through high debt.Buying things with borrowed money is bubble consumption. Americans are used to bubble consumption, and we have a problem.From 2001 to the present, there is only one reason why our exports have been so strong, that is, international financial speculators have created an unprecedented consumption bubble.In other words, our export is to satisfy other people's bubble consumption.And this bubble consumption has absorbed China's excess production capacity accounting for 35% of GDP.And we buried our heads in the sand like an ostrich, and gave this overcapacity a beautiful and dazzling term - earning foreign exchange through export. In fact, the essence of earning foreign exchange through export is that our country has serious overcapacity. Our excess production capacity, let's call it a nice name - "export".my country's exports account for 35% of GDP, and 35% of a country's GDP is to satisfy other people's bubble consumption. Don't you think it's scary?What if the bubble bursts?For so many years, we have so-called economic "troika" (export, consumption, government investment), among which the "troika" is other people's bubble consumption.this is too scary.International financial speculators are now pocketing the Federal Reserve, Chinese producers, and American consumers. Today, Professor Lang believes that financial speculators took advantage of Greenspan's "low interest rate policy" to create a huge consumer bubble in the United States, resulting in an uncontrollable financial crisis.So in this melee of the financial crisis, how do financial speculators profit?What unbelievably superb means do they have?
The next step is to use a chain to link the Federal Reserve, Chinese producers, and American consumers together, which is called the establishment of a capital chain.I didn't think of this at first, why did I think of it later?It was because Bernanke, Paulson, and Greenspan made a mistake. In early January 2009, Paulson made a statement in an exclusive interview with the Financial Times, which is called China's Responsibility Theory.Bernanke also published an article in the New York Times titled "Chinese Savings Help Inflate America's Bubble."Subsequently, Greenspan also published a similar view on March 12, 2009.What is their point of view?They say that the occurrence of the financial tsunami is the fault of the Chinese people, because Chinese people don't like to consume and like to save money.The Chinese lend money to the Americans to spend, and the Americans use the money to buy subprime debt, do this and that, and cause so many troubles, so it is all the fault of the Chinese.You listen carefully to their work because they tell the truth. In this kind of international division of labor, our enterprises have destroyed the environment, wasted resources, and exploited workers. As a result, they have earned a little bit of pitiful money, accumulated little by little, and finally accumulated 2 trillion US dollars in foreign exchange.The 2 trillion U.S. dollars in foreign exchange is bloody money, the money we earned by destroying the environment, wasting resources, and exploiting workers.For example, in order to earn 2 trillion US dollars, we export chopsticks. We have cut down 20% of forest resources just to make this kind of value-added chopsticks. So, what do we do with the 2 trillion US dollars? Woolen cloth?Purchased U.S. Treasury bonds.The poor money we earned by destroying the environment, wasting resources, and exploiting workers was returned to the Americans by purchasing US treasury bonds.What do Americans do with their money back?Through the operation of the US central bank, they put this money into the US banking system, and the bank then lends the money to consumers for bubble consumption. Not only that, U.S. banks also sold the claims to international financial speculators, who cut these claims into bonds worth $1,000 each, and then sold them to investors, who got the money back to continue lending and consumers to continue spending.So readers, please pay attention, Bernanke, Paulson and Greenspan are not wrong, why do Americans have the money to spend so much bubble?In addition to China's purchase of nearly 800 billion U.S. dollars in U.S. treasury bonds, Russia also bought 600 billion U.S. dollars in U.S. treasury bonds, and Middle Eastern countries also bought a lot.In this way, trillions of dollars of funds were sent back to the United States.Then through the operation of the US banking system, the money was lent to consumers for bubble consumption.Therefore, Paulson, Bernanke and Greenspan say that the bubble phenomenon in the United States is actually caused by low consumption in China (and Russia and the Middle East, of course).They are not wrong, they have made the conspiracy of the international financial speculators very clear, because Paulson himself was born as an international financial speculator. Here's how I put the stories together: 1. Taking China as an example, because China is purely engaged in manufacturing, the price of products is very low, while the United States controls the entire industrial chain and controls the pricing power, so that Chinese products can never raise prices, so Chinese manufacturers have to Exploit workers, otherwise they cannot survive.A large number of cheap Chinese goods have entered the United States. According to data, this has reduced the price level in the United States by nearly 10%, so the inflation rate in the United States has been reduced.At the same time, as long as American workers ask for a raise, they move factories to China, so the labor price index is also very low.So the Fed was fooled because two of the indicators it saw — the inflation rate and the labor price index — were low.So the Fed started to adopt a low interest rate policy and kept it for several years. 2. Low interest rates have given ordinary people room to consume bubbles, and banks have begun to issue a large number of consumer loans, so consumers have also been caught.In order to carry out the so-called bubble consumption, Americans have borrowed a loan equivalent to 95% of the US GDP. 3. So where did the money come from?According to Bernanke, Paulson, and Greenspan, it is China, Russia, Middle East countries, etc. that buy U.S. treasury bonds, which causes the money to flow into U.S. banks, and U.S. banks then lend the money to the American people for bubble consumption . 4. U.S. banks sell their claims to international financial speculators, and international financial speculators cut these claims into bonds worth $1,000 a piece, then sell them to investors, and get back the money to continue lending to U.S. banks, allowing consumers to continue Consumption. Through these four steps, the entire capital chain is established.After the capital chain is established, Chinese producers and American consumers will be linked together through the Federal Reserve, and international financial speculators will be able to make huge profits from it.Why?Very simple, who do we buy bonds from?Who will arrange it?International financial speculators, they can charge fees.Banks lend money to consumers, and then sell the claims to financial speculators. Financial speculators cut the claims into $1,000 bonds and resell them to investors. International financial speculators make a lot of money by charging handling fees. This kind of frothy consumption has almost reached the point of madness. Still using the previous example, you earn 1,000 yuan a month, and you need 6,000 yuan to buy a large-screen TV. If you use a low-interest loan, you only The interest of 2.6 yuan needs to be repaid, which is very little.However, the frightening thing is that they have given the common people a time bomb, that is, allowing consumers to use their houses as collateral to apply for consumer loans. As a result, housing prices have risen sharply. The house that was originally worth 100,000 yuan has now become 150,000 yuan money.Many Americans remortgage their houses and borrow 50,000 yuan to buy cars, color TVs, and DVDs.This kind of consumption not only expands the production capacity of the US auto industry, but also continuously expands our export production capacity in China. That staggering $8.5 trillion figure includes $2.3 trillion that will be used to make loans backed by assets worth next to nothing, and $3 trillion to buy equity stakes in bankrupt institutions whose net worth is Negative; the remaining $3.2 trillion has to be used to guarantee these financial derivatives that are on the verge of collapse.Which institutions provided the 8.5 trillion US dollars?美国中央银行出5.255万亿美元，美国联邦存款保险公司（它是为美国老百姓存在银行里面的钱做担保的，只要银行倒闭，美国联邦存款保险公司就得把钱还给老百姓，也就是说它是美国政府的保险公司）出1.788万亿美元，美国财政部出1.147万亿美元，美国联邦住房管理局出0.3万亿美元，加在一起是8.5万亿美元。
第一波金融海啸对我们的冲击是什么？简单地讲就是绕过我们的金融危机，直接通过泡沫消费的爆破影响到我们的出口。泡沫消费的爆破发生在2008年11月份，当年9月份，我国出口增长率还超过30%，10月份降到19%，到了11月份，我国出口下跌2.2%，12月份下跌2.8%，这就是第一波金融海啸的影响。 我们还没反应过来，进人2009年后就直接开始了第二波金融海啸。 2009年1月份，香港金融管理局总裁任志刚在香港发表谈话，提醒香港老百姓注意，第二次金融海啸的冲击已经开始了。现在全世界没有人知道第二次冲击有多大，但我可以列举一些数据，你就知道情况的严重性了。Do you remember?就在2008年金融海啸发生之后，芙国政府在10月份到11月份提列了7000亿美元的救市方案，这些资金基本注入了金融机构。奥巴马总统上任之后，又提出了7870亿美元的救市方案，其中35%将用于减税，因此只剩下5000亿美元多一点用在实体经济的救助方面。也就是说，在未来三年当中，美国政府每年只能支出不到2000亿美元用于救助实体经济。 可是这个数字是远远不够的。根据彭博资讯公司2009年年初的统计，在奥巴马提列的7870亿美元救市方案之外，美国政府承诺，未来将拨付的救市资金金额是8.5万亿美元。 这个8.5万亿美元是什么概念？美国从18世纪建国开始一直到现在，所有重大项目支出的钱加在一起，以今天的价值来计算也不过8.1万亿美元。 巴罗夫斯基表示，7000亿美元援助资金只是联邦政府扶持美国金融体系总资金中的一小部分，仅美联储就提供了6.8万亿美元的援助资助，根据巴罗夫斯基的预测，美国联邦存款保险公司（FDIC）提供了2.3万亿美元的援助资金，TARP及财政部的其他扶持计划提供了7.4万亿美元信贷资金，还有7.2万亿美元用于扶持两大抵押贷款融资巨头房利美和房地美、信用社、退伍军人事务及其他联邦计划。根据巴罗夫斯基提供的数据显示，7.4万亿美元的信货资金中已累计向金融机构提供2.8万亿美元贷款，而这也是自20世纪70年代罗斯福新政以来美国政府开展的最大规模的一次救市措施。美联储已于2008年10月27日开始购买高达2.4万亿美元的短期商业票据。与此同时，美国联邦存款保险公司还拿出1.4万亿美元用以担保银行间贷款，此外还包括国会2008年10月初通过的7000亿美元的金融机构援助资金。而美联储2008年3月份在摩根大通收购贝尔斯登时提供的290亿美元货款，以及先后两次斥资共计1228亿美元拯救AIG等也包含在内。
按照支出大小的顺序，美国历史上的15项重大支出项目分别是：第一，第二次世界大战；第二，美国的太空探险；第三，越南战争；第四，伊拉克战争；第五，罗斯福新政；第六，朝鲜战争；第七，第一次世界大战；第八，美国20世纪80年代银行危机；第九，阿富汗战争；第十，马歇尔计划；第十一，海湾战争；第十二，美国内战；第十三，美国独立战争；第十四，美国1812年对西班牙的战争；第十五，购买路易斯安那州。 这是美国历史上15项最重大的亊件，加起来才不过花了8.1万亿美元而已。可是美国政府这一次为了解决经济危机，就要花掉8.5万亿美元。美国的GDP也不过14万亿美元。这么大的支出，为什么媒体没有报道呢？因为有很多项目是不需要国会批准的，但是这个数字似乎还是严重低估了。 美国财政部7000亿美元不良资产救助计划（TARP）的督察长尼尔？巴罗夫斯基在2009年7月20日称，美国政府为金融公司所提供的援助资金总额最多可能将达到23.7万亿美元。 第二波金融海啸对我们的冲击还是绕过我们的金融危机，再次通过泡沫消费的持续爆破，从而影响到我们的出口。今年1月份到7月份的出口依次暴跌17%、25%、24%、20%、26%、21%和23%，情况不容乐观。但是最让我担心的还不是出口的大幅下跌，而是1月份进口暴跌43%，其中原油之外的进口原材料暴跌50%，而进口机器设备暴跌40%。请各位读者注意，中国大部分的制造业企业就是进口原材料和机器设备进行粗加工。如果进口原材料跌了一半，进口机器设备也下跌了40%，这就表示我国制造业企业家在第一章所谈到的两大困境之下已经无心投资制造业，他们手中的钱已经开始离开实体经济进入虚拟经济，这是本书第二篇将要讨论的内容。
How do international financial speculators play this game?How did they create an unprecedented international financial tsunami? Since 2001, there has been a strange phenomenon that the United States has gradually abandoned manufacturing. Bernanke, Paulson and Greenspan were right. Why do Americans have the money to consume so much foam? Americans are used to bubble consumption, and we have a problem. In the 19th century, there was a great imperialist country called Britain, which was the kidnapped country.Do you remember what we called England in the 19th century?Empire on which the sun never sets.In other words, no matter where the sun shines on the earth, there is the flag of the British Empire.So what happened to the British Empire in the end?What happened to the people of the British Empire? I am here to tell you the words of Adam Smith, who commented on the British Empire at that time in his famous "The Wealth of Nations": "...the rulers of the British Empire in the past 100 years, let it The people of the country happily fantasize that they have a great empire on the west coast of the Atlantic. But this empire has hitherto been only a phantom. It is not an empire, but a project, a plan. It is not a gold mine, but a The project of a gold mine, a project requiring continuous and perpetual payment, is a very expensive project. The maintenance of the colony will be incalculable if it goes on in this way. And this Who is monopolizing the colonial trade? Please note that it is monopolized by the capitalists of the British Empire. They have monopolized all the interests of the British Empire, and they have kidnapped the British Empire. Therefore, they will not bring any benefits and benefits to the British people ...for the people of the British Empire, which constitutes the majority of the population, there is only loss and no gain..." When Adam Smith wrote "The Wealth of Nations", he was as famous as Marx.For writing The Wealth of Nations, Adam Smith is known as the father of modern capitalism.As the father of capitalism, Adam Smith actually looked at capitalism in this way-the British Empire was kidnapped by capitalists.How did the British Empire invade China?It was with the trade of the East India Company as the forerunner and the gunboats of the British Empire as the backing that it opened a page of humiliation in our Chinese history. Imperialism has changed its face today. It is no longer led by the East India Company, nor backed by gunboats, but led by internationalization and backed by finance.In the past, capitalists were engaged in industries, but not anymore. Now it is Wall Street, also called financial capital, or international financial speculators, that drives European and American governments.Regarding the international financial speculators, frankly speaking, the whole world does not know who they are, and they are even unwilling or afraid to mention their names, because they currently control the whole world.This financial tsunami is the result of careful planning by these financial speculators.Due to the impact of the financial tsunami, a large number of financial institutions are facing the risk of bankruptcy.Once these financial institutions fail, it will trigger a domino effect, which will impact the real economy.In fact, it has already caused an impact. In the fourth quarter of 2008, the U.S. GDP fell by 6.3%, and in the first quarter of 2009, the U.S. GDP fell by 5.8%. What is the US government doing at this time?The US government is spending a lot of money to save the market.For the first time, the U.S. government decided to spend 700 billion U.S. dollars to directly help these financial institutions, because only by resuscitating them can the dominoes behind them not collapse. Production leads to bankruptcy of enterprises, which in turn leads to unemployment, which in turn affects consumption, thus forming a vicious circle.But the common people in the United States turned out to be against it, because they knew who caused the trouble.This situation is the same as the British Empire I just mentioned.The capitalists of the British Empire kidnapped the people of the whole country. This time, the international financial speculators kidnapped the American people. They wanted to use the hard-earned money of the American people to help these international financial speculators who got into trouble. Therefore, the American people refused to pay the money. Therefore, the U.S. House of Representatives rejected the $700 billion bailout plan on the spot.On the day of the veto, global stock markets plummeted, starting with the United States. What will happen if the stock market crashes?The pensions of the American people are all placed in the U.S. stock market. In order to achieve their own goals, international financial speculators have jointly acted to cause global stock prices to plummet, and the American people have suffered a lot as a result.So ordinary people were kidnapped, and Congress finally passed a $700 billion bailout plan to help these financial institutions. How was the $700 billion spent?Among them, 250 billion U.S. dollars was directly injected into banks. According to a survey by the American media, 21 banks received more than 1 billion U.S. dollars in funding. When the media asked about the purpose of the 1 billion U.S. dollars, they all refused to answer.Therefore, the media judged that part of the money should have entered the pockets of financial speculators. Some readers asked me, if these international financial speculators are really so bad, how did they bring down their own companies?I laughed out loud when I heard this, because the readers are too naive—financial speculators benefit from "personal" interests. What does the collapse of their financial institutions have to do with them?The bankruptcy of the company hurts the shareholders of the majority of financial institutions. Do these "individuals" care about others? Let me give you an example.What did these financial institutions do after receiving the aid funds from the American people?After the financial tsunami, the "individuals" of these financial institutions received a total of 18.4 billion US dollars in bonuses in 2008, just like the bull market in 2004, which is unimaginable.The bosses of Citibank "individuals" are going to spend 50 million US dollars to buy a private jet after they get the money. After AIG received $170 billion in funding, its top executives "individually" spent $5 million on vacations at top clubs.These examples are all "individual" behaviors, so angry that the U.S. Senate yelled at them, so President Obama said a word in early February 2009. He said: "...you international financial speculators (note that Obama cursed 'individuals') Irresponsibility to the extreme, shameful. What we should do is show your restraint, self-control and sense of responsibility than those on Wall Street who keep reaching out to the government for rescue..."You can only yell at them, you What else can be done?The same reprimand existed in nineteenth-century England. I remember that Adam Smith scolded the capitalists at that time in the same tone in "The Wealth of Nations".Here's what he said: "... denounce these capitalists for exploiting the workers by manipulating and bribing politicians..." Adam Smith not only lamented the poverty of the workers, but also deeply felt their mental decline. He strongly condemned the capitalists. .Note that he vehemently condemns capitalist greed for destroying the soul of capitalism.Is this sentence similar to what Obama said? International financial speculators kidnapped the US government, let's see how they kidnapped.The U.S. Department of the Treasury asked Bank of America to acquire Merrill Lynch. After Merrill Lynch was acquired, the CEO John Thain was replaced. This person was originally the biggest international financial speculator-Goldman Sachs.Take another look, the CEO of the New York Stock Exchange has also been replaced by Nid Auer, a former employee of Goldman Sachs Group.In addition, AIG also changed after accepting a capital injection of 170 billion U.S. dollars. Its CEO was replaced by Edward Liddy, the former Goldman Sachs.After Wachovia accepted the capital injection, the chairman was also replaced by someone from Goldman Sachs, named Robert?Steele.In other words, when the U.S. government used the money of ordinary people to rescue these hard-hit banks, including Citigroup, AIG, Wachovia, etc., all of their top leaders were replaced by international financial speculators-Goldman Sachs executives. In other words, Goldman Sachs has complete control over everything.Which company did former U.S. Treasury Secretary Paulson come from?Goldman Sachs.Which company did President Clinton's Secretary of the Treasury Rubin come from?Goldman Sachs.Which company is the chairman of the American Stock Exchange?Goldman Sachs.Which company came from the chairman of the American Futures Exchange?Goldman Sachs.Which company did the vice chairman of the US Securities Regulatory Commission come from?Also Goldman Sachs.Seeing this, I believe all readers understand.Goldman Sachs is just a company, and the international financial speculators headed by Goldman Sachs have already controlled the US government, because the Securities Regulatory Commission, the stock exchange, and the futures exchange are all owned by them, and they control the management of all large funds.As long as you control a large fund, you control a listed company, because a large fund is the major shareholder of a listed company. They even control US policy.It seems that the right to appoint personnel for these companies rescued by the U.S. government is not in the hands of the U.S. government, but in the hands of Goldman Sachs Group, and Goldman Sachs sends people to assume important positions.What I listed above is just a small part. Goldman Sachs Group is the most important one among international financial speculators. Its people are all over the United States, controlling finance, economy, funds, stock exchanges, futures exchanges, the Securities Regulatory Commission and even the government.Rubin, Secretary of the Treasury; Paulson, Secretary of the Treasury; Cosaine, Governor of New Jersey; Thornton, Vice Chairman of the Securities and Exchange Commission; John?Whitehead, U.S. deputy secretary of state and treasury; Bolton, White House chief of staff to President Bush; Draghi, governor of Italy's central bank; Ampa, head of the New York City Economic Development Agency; Jeffrey, chairman of the U.S. futures exchange Murphy, chairman of the Democratic National Convention Finance and Economics Committee; Friedman, chief economic adviser to the White House.This is just a part of the people who came out of Goldman Sachs Group, which is amazing enough. Don't think that Goldman Sachs has nothing to do with you.On February 2, 2009, the Chief Executive of the Hong Kong Monetary Authority, Yam Chi-gang, alluded to the manipulation of HSBC Bank. Who manipulated it?The following is my data, Goldman Sachs wrote a research report, saying that HSBC’s bad debt provision should be as high as 30.1 billion US dollars, and the loss should be as high as 1.5 billion US dollars, so the stock price of this bank will drop from 70 to 80 yuan to 49 yuan money.As soon as this report came out, HSBC's share price fell by 25% within a week, losing a quarter of its market value. Goldman Sachs wrote another research report, highly optimistic about Air Petroleum. Although our domestic securities companies, including Shenyin Wanguo, CITIC Securities, and Haitong Securities, all strongly recommend PetroChina, it is enough for international financial speculators led by Goldman Sachs to issue a contrary report. Therefore, PetroChina's H shares fell by 12.82% within a week. In 2004, when our state-owned banks were about to be restructured, Goldman Sachs published some articles one after another, slandering our country's state-owned banks, saying that they were worthless and the bad debt rate was too high, so don't want them.Who wants it?their own peers.Therefore, when CCB was listed in Hong Kong, Bank of America bought CCB's shares at a price of more than one yuan.As a result, in the second half of 2007, Bank of America announced to the outside world that due to the subprime mortgage crisis, they suffered heavy losses, but because of the listing of CCB, they made 130 billion yuan, which is equivalent to each of us Chinese paying 100 yuan. These international financial speculators swept a handful. Do you remember the Vietnam crisis?The Vietnam crisis is a great tragedy in Vietnam, which happened in April 2008.We noticed that this country had problems in 2007, but before March 2008, international investment banks led by Goldman Sachs repeatedly called on everyone to buy Vietnamese stocks, and they were finally swept away by them.There is an article called "Vietnam concept, the new favorite of Asian stocks". This article was published by "Morgan Opinion" on May 14, 2007. It said that Goldman Sachs included Vietnam in the new diamond 11 countries. Under its strong support, Vietnam's stock prices and property prices have been pulled up.Finally, in April 2008, for unknown reasons, all the funds were withdrawn, which immediately caused a sharp drop in stock prices and property prices, but the inflation rate did not fall, as high as 25%.This is the method used by Goldman Sachs and other international financial speculators. There is a company that does not seem to belong to them, called Lehman Brothers Investment Company. The intricate relationship is difficult for outsiders to understand, and I can only make a guess.Why was the Lehman Brothers investment firm forced to go bankrupt?Because its executives are not from Goldman Sachs.Of course, this company is not a good thing. It is very stupid. It lost 2 billion US dollars in 2008 and screwed up Lehman Brothers.Barclays Bank of the United Kingdom wanted to acquire it with US$1.8 billion. Eight senior executives of Lehman said that you can buy us, but you must pay our eight senior executives US$2.5 billion before the acquisition.This method is too low-level. As a result, it aroused public indignation across the United States, and it just gave the Wall Street elite headed by Goldman Sachs, including then Treasury Secretary Paulson, an excuse to die and not save you.Many banks in the United States have problems, only Lehman has not been rescued by the US government. The collapse of Lehman has affected many investors in Hong Kong and Taiwan who invested in Lehman bonds. On February 18, 2009, US President Barack Obama officially signed a $787 billion economic stimulus plan.This is another high-value economic stimulus plan approved by the US Congress after the Bush administration's US$700 billion rescue fund. Surprisingly, on the day the stimulus plan was signed, global stock markets fell sharply. It can be seen that people do not fully buy into the new president's ambitions, and many investors are worried that the economic recession will still intensify. Therefore, Not optimistic about this new economic stimulus plan. Where will the US economy go in 2009?This has become a concern all over the world.To unravel this mystery, we must first figure out how this financial crisis originated and developed.After in-depth research, Professor Lang Xianping found that there is indeed an intricate relationship behind the financial crisis.
How do international financial speculators play this game?How did they create an unprecedented national financial tsunami?Of course, we can’t say that, they didn’t create it, but they grasped the current situation and created a path that is beneficial to themselves. I would like to ask readers to pay attention to one thing. The top leaders of the US Federal Reserve (also called the Federal Reserve, which is the central bank of the United States) are usually appointed by scholars, and the US treasury ministers are basically people from Goldman Sachs, such as Clinton President's Treasury Secretary Rubin and President Bush's Treasury Secretary Paulson.I judge that there should be a very serious conspiracy in it, because scholars are easier to be manipulated.For example, Greenspan, he is a very self-righteous person, a smug old man, he has no idea that he has been controlled by financial speculators all his life.Greenspan once said: "...financial innovation is happening so fast that we can never fully understand all products and transactions. At the same time, our regulation simply cannot keep up with the pace of the industry..." That is, he admits himself that he doesn't understand what Wall Street is doing. In addition, the Basel II agreement, which is regarded as a risk control rule by our Chinese banking industry, is regarded by international financial speculators as a rubbish standard that has been outdated since the day it was released.And we are still learning this rubbish, this is our level.This is why we are helpless after the international financial speculators swept China, because we don't understand it at all.Why isn't the Fed raising the bar?What is the most fundamental reason?From Greenspan to the current chairman of the Federal Reserve (that is, the U.S. central bank, I would like to remind readers that the U.S. central bank is a private enterprise, not a state-owned enterprise, which is completely different from ours), they are all scholars. Must be able to figure out what Wall Street is doing.It is the Treasury Department that really controls the lifeline of U.S. financial policy, and the U.S. Treasury Department is basically controlled by international financial speculators such as Goldman Sachs who are familiar with the inner workings of Wall Street.After this strange combination was set up, it began to snipe step by step.As for the consequences, I believe that companies such as Goldman Sachs do not know in advance, but they can take advantage of all the mistakes made by the government to benefit themselves. So the outpost of the financial tsunami started in 2001, why 2001?At that time, Greenspan was still the chairman of the Federal Reserve. The Internet bubble burst in 2001. Because Greenspan adopted some relatively correct policies, the Internet bubble burst did not affect the real economy of the United States. In early 2001, the NASDAQ bubble represented by technology stocks suddenly burst, and a large number of established communication companies and Internet companies went bankrupt.The bursting of the Internet bubble directly led to the recession of the U.S. economy.In order to prevent this recession, Greenspan, who was then the chairman of the Federal Reserve, quickly decided to lower the federal funds rate. In the following months, the Fed cut interest rates several times, reducing the benchmark interest rate from 3.5% to 1%.It was the decision to lower interest rates in succession that brought the dot-com recession to an end after only a few months. Looking back on Greenspan’s 18 years as chairman of the Federal Reserve, he cut interest rates almost every time to prevent the spread of the crisis, and he has also become an “idol” in the minds of Americans.Someone even used a metaphor to say that Greenspan is a "God of Wealth" who "when he sneezes, it rains all over the world".So, how could the powerful Greenspan be used by financial speculators?
Amidst the praise from American public opinion, the old man Greenspan was a little carried away. It can be said that he was stunned by his interests and felt that he was great.What's more strange is that the media are overwhelmingly touting Greenspan: you are the greatest person, your financial policy is extremely great, only you really control the prospects of the United States, and only you are the savior of the United States.All of these words.I suggest that our government and entrepreneurs must not believe the flattery that people in Europe and the United States say about us. They are a country that does whatever it takes to achieve its ends. As long as it is beneficial to them, they can say anything nice. What has Greenspan done in his life?He just did one thing, lower interest rates during recessions, raise them during overheating times, and nothing else.With just such a incident, Greenspan was praised by the American media, who hailed him as the proud son of heaven, the leader of the financial world, and even the "Godfather of Finance".Let me tell you, international financial speculators can give you any bright term you want, and all your methods are under their control.Do you know which reports Greenspan looks at when making interest rate adjustments?He only reads two reports, the first is the inflation rate, the second is the labor price index, and he basically does not read the others. In other words, as long as the inflation rate is not high and the labor price index is not high, the interest rate will not be high, it's as simple as that.Why look at the labor price index?Because the most important source of inflation in the United States is the rise in labor costs.So Greenspan will look at these two indicators, as long as these two indicators are normal, he will not raise interest rates.If these two indicators deteriorate, raise interest rates.That's what he's done all his life.Very good, the international financial speculators understand.Therefore, as long as the inflation rate is not high and there is no risk of rising labor costs, they will definitely adopt a low interest rate policy even if they are quasi-Fed, it's as simple as that. In 2001, China officially joined the WTO, so multinational companies from the United States and other countries moved their factories to China one after another.In the next few years, driven by the manufacturing industry, China's foreign trade has grown by leaps and bounds, and its foreign exchange reserves have increased sharply. But behind the rapid development of China's manufacturing industry, what has the United States done?What benefits will they gain?
Since 2001, there has been a strange phenomenon that the United States has gradually abandoned manufacturing.I don't know why, as soon as labor costs rise, under the pressure of fund shareholders headed by financial speculators, American manufacturing companies begin to move their factories to China one after another. Therefore, the American manufacturing industry began to decline and be eliminated continuously, while China's manufacturing industry was in full swing and became more and more violent.More and more U.S. manufacturing industries have been eliminated and moved to China. As long as the labor cost of U.S. manufacturing continues to rise, its end is to close its doors and move to China.From 2001 to 2008, our labor cost in China increased from 700 yuan to 1,000 yuan.For so many years, the annual growth rate has been pitifully low, less than 5%.All this is because of the international division of labor.International financial speculators gave us Chinese a beautiful term called "manufacturing power", just like they gave Greenspan a beautiful term "financial godfather".When we heard it, we were overjoyed.Are we a manufacturing powerhouse?Readers, think about it, how is it possible?We are too simple. Why do the media all over the world say that China is a rising star, a rising power, and a manufacturing power?Just like they touted Greenspan in the first place.As a result, more factories have settled in China, but labor costs cannot rise at all.Why?Because this indicator is too important, this is the indicator that Greenspan values.So over the years, the cost of labor in the United States has barely risen at all. How do they suppress labor costs in China?Through the international division of labor, let China do the manufacturing industry, while all other major logistics links remain in the United States.I have mentioned an example before. After the Barbie dolls manufactured in Dongguan were sold to the United States for 1 dollar, the retail price at Wal-Mart was 10 dollars.How did the difference of $9 in the middle come about?It is created by the six major sectors controlled by the United States in the international division of labor, including: (1) product design; (2) raw material procurement; (3) warehousing and transportation; (4) order processing; (5) wholesale operation; (6) Terminal retail. This is what they call the international division of labor.Who controls the pricing power of the product?The price is determined by these six parts. In the entire "6+1" industrial chain, the United States controls the "6" major logistics service link, and China controls the "1" manufacturing link.And it is the "6" in the hands of the United States that really controls the pricing power.When they control the pricing power, they can go back and suppress the manufacturing industry.As long as we raise the price, they won't buy it, so the situation of our Chinese manufacturing industry is so difficult.If our costs go up, profits must go down.We can't raise the price because the pricing power is in the hands of the Americans.How can you make money if you can't raise the price?Our export factories can only turn around and exploit workers without giving workers a raise.This is the national strategy of the United States. Therefore, since we joined the WTO in 2001, a large number of cheap products produced by exploiting workers, destroying the environment, and wasting resources have been imported into the United States.The result is that the inflation rate, the first indicator in the United States, has remained very low. In addition, as long as American workers clamor for a wage increase, factories will move to China, so the labor price index, the second indicator, is also very low.The old man Greenspan looked at these two indicators, very good, inflation is controllable, and labor costs are also controllable.That's why the United States has maintained a low interest rate policy for several years. To be fair, this international division of labor was not created by international financial speculators, but they are good at taking advantage of this international situation, which is where they are smart. Since the US federal funds rate was cut by 50 basis points in early 2001, the Federal Reserve's monetary policy began a cycle from raising interest rates to cutting interest rates.This cycle lasted until June 2004.Many people say that the continuous low interest rate policy at this stage is an important factor that has driven the US real estate boom since the 21st century and triggered the bubble in the subprime mortgage market, and is also an important reason for the current financial crisis. After the financial crisis, in order to encourage consumption, the Federal Reserve once again lowered the benchmark interest rate from 1% to 0.25% in December 2008, and the United States has almost entered the era of "zero interest rate".So what can lower interest rates do?And what are the consequences of the low interest rate policy that Americans have implemented for many years?
After taking care of China, Greenspan's inflation rate and labor price index were brought under control.What's next?The next step is to find consumers in the United States.Simply put, if American consumers do not buy into international financial speculators, there will be no financial tsunami.But they bought it because they want to buy cheap products from China.So American consumers are linked to Chinese producers.So how to buy?For example, if you earn 1,000 yuan a month and want to buy a large-screen color TV, you need 6,000 yuan. You have saved money for six months, so you don’t want to buy it.But international financial speculators tell you through the banks they hold, it doesn't matter, you buy it, and we will lend you 6,000 yuan.We arrange a two-year consumer loan for you, and you only need to repay 252.6 yuan a month, of which 250 yuan is the principal and 2.6 yuan is the interest, which is very low.When you think about it, my 6,000 yuan is paid off in two years, and the monthly interest is only 2 yuan and 60 cents, which is so cheap.So you buy it.And you find that not only can you buy one TV, you can buy three TVs.However, the bank said, don't just buy a TV, you can buy a mobile phone, buy a DVD, you can buy anything.In the end, ordinary Americans are addicted, and they are used to buying these products through high debt.Buying things with borrowed money is bubble consumption. Americans are used to bubble consumption, and we have a problem.From 2001 to the present, there is only one reason why our exports have been so strong, that is, international financial speculators have created an unprecedented consumption bubble.In other words, our export is to satisfy other people's bubble consumption.And this bubble consumption has absorbed China's excess production capacity accounting for 35% of GDP.And we buried our heads in the sand like an ostrich, and gave this overcapacity a beautiful and dazzling term - earning foreign exchange through export. In fact, the essence of earning foreign exchange through export is that our country has serious overcapacity. Our excess production capacity, let's call it a nice name - "export".my country's exports account for 35% of GDP, and 35% of a country's GDP is to satisfy other people's bubble consumption. Don't you think it's scary?What if the bubble bursts?For so many years, we have so-called economic "troika" (export, consumption, government investment), among which the "troika" is other people's bubble consumption.this is too scary.International financial speculators are now pocketing the Federal Reserve, Chinese producers, and American consumers. Today, Professor Lang believes that financial speculators took advantage of Greenspan's "low interest rate policy" to create a huge consumer bubble in the United States, resulting in an uncontrollable financial crisis.So in this melee of the financial crisis, how do financial speculators profit?What unbelievably superb means do they have?
The next step is to use a chain to link the Federal Reserve, Chinese producers, and American consumers together, which is called the establishment of a capital chain.I didn't think of this at first, why did I think of it later?It was because Bernanke, Paulson, and Greenspan made a mistake. In early January 2009, Paulson made a statement in an exclusive interview with the Financial Times, which is called China's Responsibility Theory.Bernanke also published an article in the New York Times titled "Chinese Savings Help Inflate America's Bubble."Subsequently, Greenspan also published a similar view on March 12, 2009.What is their point of view?They say that the occurrence of the financial tsunami is the fault of the Chinese people, because Chinese people don't like to consume and like to save money.The Chinese lend money to the Americans to spend, and the Americans use the money to buy subprime debt, do this and that, and cause so many troubles, so it is all the fault of the Chinese.You listen carefully to their work because they tell the truth. In this kind of international division of labor, our enterprises have destroyed the environment, wasted resources, and exploited workers. As a result, they have earned a little bit of pitiful money, accumulated little by little, and finally accumulated 2 trillion US dollars in foreign exchange.The 2 trillion U.S. dollars in foreign exchange is bloody money, the money we earned by destroying the environment, wasting resources, and exploiting workers.For example, in order to earn 2 trillion US dollars, we export chopsticks. We have cut down 20% of forest resources just to make this kind of value-added chopsticks. So, what do we do with the 2 trillion US dollars? Woolen cloth?Purchased U.S. Treasury bonds.The poor money we earned by destroying the environment, wasting resources, and exploiting workers was returned to the Americans by purchasing US treasury bonds.What do Americans do with their money back?Through the operation of the US central bank, they put this money into the US banking system, and the bank then lends the money to consumers for bubble consumption. Not only that, U.S. banks also sold the claims to international financial speculators, who cut these claims into bonds worth $1,000 each, and then sold them to investors, who got the money back to continue lending and consumers to continue spending.So readers, please pay attention, Bernanke, Paulson and Greenspan are not wrong, why do Americans have the money to spend so much bubble?In addition to China's purchase of nearly 800 billion U.S. dollars in U.S. treasury bonds, Russia also bought 600 billion U.S. dollars in U.S. treasury bonds, and Middle Eastern countries also bought a lot.In this way, trillions of dollars of funds were sent back to the United States.Then through the operation of the US banking system, the money was lent to consumers for bubble consumption.Therefore, Paulson, Bernanke and Greenspan say that the bubble phenomenon in the United States is actually caused by low consumption in China (and Russia and the Middle East, of course).They are not wrong, they have made the conspiracy of the international financial speculators very clear, because Paulson himself was born as an international financial speculator. Here's how I put the stories together: 1. Taking China as an example, because China is purely engaged in manufacturing, the price of products is very low, while the United States controls the entire industrial chain and controls the pricing power, so that Chinese products can never raise prices, so Chinese manufacturers have to Exploit workers, otherwise they cannot survive.A large number of cheap Chinese goods have entered the United States. According to data, this has reduced the price level in the United States by nearly 10%, so the inflation rate in the United States has been reduced.At the same time, as long as American workers ask for a raise, they move factories to China, so the labor price index is also very low.So the Fed was fooled because two of the indicators it saw — the inflation rate and the labor price index — were low.So the Fed started to adopt a low interest rate policy and kept it for several years. 2. Low interest rates have given ordinary people room to consume bubbles, and banks have begun to issue a large number of consumer loans, so consumers have also been caught.In order to carry out the so-called bubble consumption, Americans have borrowed a loan equivalent to 95% of the US GDP. 3. So where did the money come from?According to Bernanke, Paulson, and Greenspan, it is China, Russia, Middle East countries, etc. that buy U.S. treasury bonds, which causes the money to flow into U.S. banks, and U.S. banks then lend the money to the American people for bubble consumption . 4. U.S. banks sell their claims to international financial speculators, and international financial speculators cut these claims into bonds worth $1,000 a piece, then sell them to investors, and get back the money to continue lending to U.S. banks, allowing consumers to continue Consumption. Through these four steps, the entire capital chain is established.After the capital chain is established, Chinese producers and American consumers will be linked together through the Federal Reserve, and international financial speculators will be able to make huge profits from it.Why?Very simple, who do we buy bonds from?Who will arrange it?International financial speculators, they can charge fees.Banks lend money to consumers, and then sell the claims to financial speculators. Financial speculators cut the claims into $1,000 bonds and resell them to investors. International financial speculators make a lot of money by charging handling fees. This kind of frothy consumption has almost reached the point of madness. Still using the previous example, you earn 1,000 yuan a month, and you need 6,000 yuan to buy a large-screen TV. If you use a low-interest loan, you only The interest of 2.6 yuan needs to be repaid, which is very little.However, the frightening thing is that they have given the common people a time bomb, that is, allowing consumers to use their houses as collateral to apply for consumer loans. As a result, housing prices have risen sharply. The house that was originally worth 100,000 yuan has now become 150,000 yuan money.Many Americans remortgage their houses and borrow 50,000 yuan to buy cars, color TVs, and DVDs.This kind of consumption not only expands the production capacity of the US auto industry, but also continuously expands our export production capacity in China. That staggering $8.5 trillion figure includes $2.3 trillion that will be used to make loans backed by assets worth next to nothing, and $3 trillion to buy equity stakes in bankrupt institutions whose net worth is Negative; the remaining $3.2 trillion has to be used to guarantee these financial derivatives that are on the verge of collapse.Which institutions provided the 8.5 trillion US dollars?美国中央银行出5.255万亿美元，美国联邦存款保险公司（它是为美国老百姓存在银行里面的钱做担保的，只要银行倒闭，美国联邦存款保险公司就得把钱还给老百姓，也就是说它是美国政府的保险公司）出1.788万亿美元，美国财政部出1.147万亿美元，美国联邦住房管理局出0.3万亿美元，加在一起是8.5万亿美元。
第一波金融海啸对我们的冲击是什么？简单地讲就是绕过我们的金融危机，直接通过泡沫消费的爆破影响到我们的出口。泡沫消费的爆破发生在2008年11月份，当年9月份，我国出口增长率还超过30%，10月份降到19%，到了11月份，我国出口下跌2.2%，12月份下跌2.8%，这就是第一波金融海啸的影响。 我们还没反应过来，进人2009年后就直接开始了第二波金融海啸。 2009年1月份，香港金融管理局总裁任志刚在香港发表谈话，提醒香港老百姓注意，第二次金融海啸的冲击已经开始了。现在全世界没有人知道第二次冲击有多大，但我可以列举一些数据，你就知道情况的严重性了。Do you remember?就在2008年金融海啸发生之后，芙国政府在10月份到11月份提列了7000亿美元的救市方案，这些资金基本注入了金融机构。奥巴马总统上任之后，又提出了7870亿美元的救市方案，其中35%将用于减税，因此只剩下5000亿美元多一点用在实体经济的救助方面。也就是说，在未来三年当中，美国政府每年只能支出不到2000亿美元用于救助实体经济。 可是这个数字是远远不够的。根据彭博资讯公司2009年年初的统计，在奥巴马提列的7870亿美元救市方案之外，美国政府承诺，未来将拨付的救市资金金额是8.5万亿美元。 这个8.5万亿美元是什么概念？美国从18世纪建国开始一直到现在，所有重大项目支出的钱加在一起，以今天的价值来计算也不过8.1万亿美元。 巴罗夫斯基表示，7000亿美元援助资金只是联邦政府扶持美国金融体系总资金中的一小部分，仅美联储就提供了6.8万亿美元的援助资助，根据巴罗夫斯基的预测，美国联邦存款保险公司（FDIC）提供了2.3万亿美元的援助资金，TARP及财政部的其他扶持计划提供了7.4万亿美元信贷资金，还有7.2万亿美元用于扶持两大抵押贷款融资巨头房利美和房地美、信用社、退伍军人事务及其他联邦计划。根据巴罗夫斯基提供的数据显示，7.4万亿美元的信货资金中已累计向金融机构提供2.8万亿美元贷款，而这也是自20世纪70年代罗斯福新政以来美国政府开展的最大规模的一次救市措施。美联储已于2008年10月27日开始购买高达2.4万亿美元的短期商业票据。与此同时，美国联邦存款保险公司还拿出1.4万亿美元用以担保银行间贷款，此外还包括国会2008年10月初通过的7000亿美元的金融机构援助资金。而美联储2008年3月份在摩根大通收购贝尔斯登时提供的290亿美元货款，以及先后两次斥资共计1228亿美元拯救AIG等也包含在内。
按照支出大小的顺序，美国历史上的15项重大支出项目分别是：第一，第二次世界大战；第二，美国的太空探险；第三，越南战争；第四，伊拉克战争；第五，罗斯福新政；第六，朝鲜战争；第七，第一次世界大战；第八，美国20世纪80年代银行危机；第九，阿富汗战争；第十，马歇尔计划；第十一，海湾战争；第十二，美国内战；第十三，美国独立战争；第十四，美国1812年对西班牙的战争；第十五，购买路易斯安那州。 这是美国历史上15项最重大的亊件，加起来才不过花了8.1万亿美元而已。可是美国政府这一次为了解决经济危机，就要花掉8.5万亿美元。美国的GDP也不过14万亿美元。这么大的支出，为什么媒体没有报道呢？因为有很多项目是不需要国会批准的，但是这个数字似乎还是严重低估了。 美国财政部7000亿美元不良资产救助计划（TARP）的督察长尼尔？巴罗夫斯基在2009年7月20日称，美国政府为金融公司所提供的援助资金总额最多可能将达到23.7万亿美元。 第二波金融海啸对我们的冲击还是绕过我们的金融危机，再次通过泡沫消费的持续爆破，从而影响到我们的出口。今年1月份到7月份的出口依次暴跌17%、25%、24%、20%、26%、21%和23%，情况不容乐观。但是最让我担心的还不是出口的大幅下跌，而是1月份进口暴跌43%，其中原油之外的进口原材料暴跌50%，而进口机器设备暴跌40%。请各位读者注意，中国大部分的制造业企业就是进口原材料和机器设备进行粗加工。如果进口原材料跌了一半，进口机器设备也下跌了40%，这就表示我国制造业企业家在第一章所谈到的两大困境之下已经无心投资制造业，他们手中的钱已经开始离开实体经济进入虚拟经济，这是本书第二篇将要讨论的内容。