"Gently I leave, just as I came lightly; I gently waved to be the clouds in the western sky." Xu Zhimo would never have thought of this beautiful and graceful song when he wrote "Farewell to Cambridge" in 1928. The opening remarks just described the carefree figures of today's international financial speculators galloping freely and overturning clouds and rain: They gently left the positions of the sniper, just as they came gently, they waved gently, and said goodbye to yesterday's economic glory clouds forever.Different from the poet's romantic ending, "I leave quietly, just as I came quietly; I waved my sleeves, and I didn't take a cloud with me." The endless wealth plundered by China, Iceland, and the United States has left devastated and bleak scenes of businesses on the verge of bankruptcy all over the world.

We used to think that finance and war are two different things. For example, many of our readers are studying finance. Learning finance is very simple, so why not just a few books, this and that, can war be so complicated?I can tell you responsibly that this is really an unusual war. It is a war beyond the traditional limits, called financial unrestricted warfare.Do you ever feel weird? I am afraid that people are familiar with war in the traditional sense. In its fierceness and cruelty, the lives and destiny of many people have changed accordingly.However, people may not have imagined that this special war, in which the smoke of gunpowder is invisible and even the enemy is invisible, has spread around the world, and it is happening around us.Who started this war, which I call financial unrestricted warfare, and how will it affect our lives?Do you understand?

Faced with this situation, I can't have any romantic feelings, so I will use this book to specifically analyze the operation methods of international speculators in this silent financial unrestricted war, and use China and Russia's Specific cases and data are used to analyze what kind of countries and markets will become the targets of international financial speculators.Through this framework, everyone will understand that international financial speculators have already set up a "pocket array" by virtue of a series of wrong macro policies in developed countries (such as the United States) and emerging markets (such as China) in the past eight years, waiting for two governments, businesses and consumers.Different from the "pocket formation" of the Red Army back then, in this innovative formation, international financial speculators don't have to wait until everyone is trapped to make money, but make a small profit if they can get in. Just press the "nuclear button" and use the superficial economic crisis to take away the governments, enterprises and consumers of various countries!

The direct consequence of this financial unrestricted war is to hit the real economy with the financial crisis, leaving a devastated "post-war" mess to governments of all countries.Note that I said "governments", which naturally includes the US government!What?Many readers must have jumped up. You must know that Chairman Mao taught us that the US imperialism is the only one that will never die! Has the US government been kidnapped by itself?Careful readers must have noticed that I said "the U.S. government," not "U.S. imperialism."One of the biggest differences between the U.S. and China is that the U.S. government is a "small government," especially after the 30-year civil rights movement and the anti-war movement during the Vietnam War, the U.S. government is a weak and small government.

The ability of the U.S. government to intervene in the market is very small, so the U.S. government can’t do anything to international financial speculators. The total wealth at the disposal of the U.S. government is far from being comparable to the total amount of private property.Furthermore, the annual fiscal revenue of the U.S. government is far less than the sum of the disposable income of ordinary people.In contrast, most of China's wealth is state-owned, and the Chinese government's fiscal revenue is several times that of ordinary people's disposable income.Even if the U.S. government injects capital into Citibank, the CEOs of Citigroup will also plan to spend 50 million US dollars to equip themselves with private jets.When Obama came to power, he did not dare to set all three fires on the bankers. He had no choice but to whine and reprimand the bank executives in an interview with CBS, one of the three major TV stations in the United States. up:

None of the three major economic policies deal with the core issue of excessive credit consumption.Even though AIG, the largest insurance company in the United States, accepted the capital injection from the government, these executives still dared to burn $5 million to go on vacation at top beach clubs, and the U.S. Senate yelled at them. The world is so difficult, and everyone knows that the American people are no better off than the Chinese people.The common people in China just put part of their savings in the stock market, and now they are yelling when they are locked up. Think about how miserable the American people are!Because the government provides a tax-deductible scheme for retirement investment.The American people then put a large amount of their retirement funds into the stock market.In stark contrast, the salaries of Wall Street bankers are not affected at all!According to CBS reports, their bonuses in 2008 were as high as 18.4 billion US dollars, which was almost the same as that of the bull market in 2004!After reading this, some readers must have jumped up like me: Do you bankers still have a conscience?Also executives.In order to win support from Congress, the executives of the three major American automakers would rather lower their profile and drive their private cars all the way from Detroit to Washington instead of flying.Even voluntarily took a pay cut to $1.The same executives, how can there be such a big gap in life?

Because in essence, international financial speculators have no motherland, and their creed is "rebellion is justified", and they can do whatever they can to make money!At the same time, they are also extremely smart, far smarter than policy officials in various functional departments of the US government.Because they can spare no expense to recruit the smartest and most critical people: On the one hand, it is not difficult to find that most of the former treasury secretaries of the U.S. Treasury Department are from Wall Street, especially Goldman Sachs, and the good treasury ministers such as Rubin will receive a generous reward from them. After the Treasury Secretary leaves office, he will be granted the title of chairman of Citigroup. On the other hand, the chairman of the Federal Reserve has always been selected from among economists with no industry experience. Immediate benefits As former Chairman Alan Greenspan acknowledged, the rate of financial innovation is too rapid for us to ever fully understand all products and transactions.At the same time, our regulation simply cannot keep up with the pace of the industry.There is a book on the market about the experience of a Chinese working in the Federal Reserve. After reading it, everyone will understand that the "Basel Accord II", which is regarded as the standard of risk control by the Chinese banking industry, is an outdated garbage standard since the day it was released. .So why hasn't the Fed raised the bar yet?The most fundamental reason is that even the Federal Reserve, the department in the U.S. government that understands the financial market best, cannot fully understand what the industry is playing!

In this unrestricted war, even the Federal Reserve has been led by the nose by international financial speculators, and now it is suddenly beaten dizzy by them. Is it surprising?So.Do you believe that the Chinese government, the Russian government, the Icelandic government, companies from various countries, or ordinary people in the United States are smarter than the chairman of the Federal Reserve?So, what exactly are they playing in this unrestricted battle?How exactly was this bureau laid out step by step? With China and Vietnam joining the World Trade Organization, the world's commodity markets are suddenly flooded with cheap labor.Rising labor prices used to be the main cause of inflation in the United States.Now the United States no longer has to worry about rising prices, because if workers in any industry want to raise wages, business owners will directly outsource this production to companies in China, Vietnam, or India.However, the problem has not been completely solved. First of all, what should we do with the raw materials?Brazil and Australia provide a steady stream of iron ore, and South American countries such as Chile provide a steady stream of copper ore, so it is easy to solve.The final question, then, is how to transport raw materials and finished goods cheaply?It’s okay. The Organization of Petroleum Exporting Countries was originally under the control of the United States. Now we need to clean up those oil-producing countries that are outside the organization. First occupy Iraq, then send the aircraft carrier to Iran and Venezuela, and then move the Russia dragged into the World Trade Organization.In this way, emerging market countries, including China, have fallen into the first step. Note that this is only the beginning of the "pocket formation".

Greenspan lost his way in the hype after he successfully "contained" the impact of the dot-com bubble on the US real economy in 2001.When the Federal Reserve adjusts the interest rate level, it only needs to see that the inflation rate has not risen.Let me emphasize again that the rise in labor prices was once the main source of inflation in the United States, but the dazed Greenspan still only focused on the inflation rate itself and the labor price index.Moreover, he firmly believed that the interest rate at that time would not trigger inflation, nor would it bring too much inflation risk, so there was no need to raise interest rates at all.In this way, the Fed was hooked in and began to adopt a low interest rate policy.

If American consumers do not buy into the account of financial speculators, then this conspiracy will not succeed.However, American consumers buy cheap Chinese products (American consumers are linked to Chinese producers)!But what if American consumers run out of money?Herein lies the problem!Someone will talk to you, so be it.I bought it for you first, and you can just pay me back a little bit on a monthly basis.What does this mean?If your monthly income is 1,000 yuan, before you had to save for half a year to buy a 6,000 yuan large-screen TV, now you only need to swipe a pen and promise to pay back 252.60 yuan a month for the next two years. You can move the TV home now.The extra 2.60 yuan is the interest. You may find it unbelievable. How can you pay such a little extra a month for a big TV worth more than 6,000 yuan, and you can bear it for two years?That's right, as long as the Fed maintains a low interest rate policy (US consumers are linked to the Fed).What are the immediate consequences of doing so?That is, you can’t wait to buy three more TVs right away. Of course, one TV is enough, so let’s change to a mobile phone and buy two more sets of clothes, only to find that the spare money on hand is still much more than the interest.In this way, American people are addicted. From buying cars to buying houses, from buying appliances to paying taxes, they cannot do without credit cards and consumer loans!Since then, a terrible bubble consumption has formed, which has created the illusion of China's strong exports.

However, one question that seems to be overlooked is, who is this person who is lending money to ordinary Americans?You and I, as ordinary Chinese people, neither dare to borrow nor are we willing to borrow.However, international financial speculators still put China in it!It also made us China a scapegoat.Believe it or not, in an interview with the Financial Times on January 1, 2009, U.S. Treasury Secretary Paulson proposed the so-called "China Responsibility Theory". An article entitled "China's Savings Help Inflate the U.S. Bubble" also put forward the same point of view, criticizing China as the chief culprit of the financial crisis.Look at the savings rate of Chinese people is the world's first!Chinese people have lent money to state-owned banks, and state-owned banks have lent money to enterprises. The RMB earned by enterprises is still stored in the bank, but the US dollars earned are forced to settle foreign exchange and stay in the country’s foreign exchange because of the foreign exchange management system with Chinese characteristics. In reserve!However, most of the country's foreign exchange reserves are used to buy U.S. treasury bonds, so the hard-earned money that the Chinese people earn from manufacturing cheap products in the United States is in turn lent to the U.S. government.The Federal Reserve does not raise interest rates, so the interest paid by the US government to China is extremely low.In order not to raise the interest rate when buying treasury bonds in China, the Federal Reserve launched open market operations, and the direct result was to inject money back into the US interbank market.In this way, the money is handed over to the American people who are waiting for food, thus completing the complete establishment of the capital chain from producers, to the Federal Reserve, to consumers.They are so good!Of course, China is not the only country being counted. The dollars earned from selling oil in the Middle East flow back to the United States in the same way.The international financial speculators have plucked the feathers in each link and grabbed a lot of profits.However, please be careful, this is only the beginning of the war! After they completed the construction of the capital chain, they began to deal with China, Russia and the United States in turn. Taking Russia as an example, the inherent flaws in its economic decision-making have allowed international financial speculators to find a breakthrough.Russia's "Development and Reform Commission", called the Ministry of Economic Development, made a plan at that time, hoping to make it bigger and stronger through high energy prices and low international funds.As a result, unknowingly, the price of oil was pulled down to $147 a barrel under the manipulation of financial speculators. On the surface, large Russian companies made money through energy exports. In fact, they borrowed from international financial capital and low interest rates to these large companies. In order to obtain the equity of large Russian enterprises as collateral.How did they know that all of them were covered up, with such a delicate layout, you can't redeem these shares even if you redeem them. Of course, they did not forget to trap China.They also raised the price of oil to US$147 a barrel to cause panic in the Chinese government and enterprises, and then encouraged PetroChina, Sinopec, and Chinalco to purchase mineral resource companies at high prices, and then encouraged Chinese airlines, Shen Nandian, and CITIC Pacific Sign unfair hedging contracts. They have no mercy for the United States either.Back then, Soros sniped the British pound to steal money from the treasury of the Bank of England, the central bank of England.So, will these people who are ashamed of President Obama of the United States still show mercy to him and his people? (1) Over the years, the trap they have set for the common people is: if you have a house, mortgage the house when the price is high, and you will have more disposable income for consumption; if you do not have a house.I will attract you to borrow money to buy a house with me at a very low interest rate, although the house belongs to me and not to you until the interest is paid off; if you are not even eligible to borrow money, then I use up to $1.3 trillion in subprime mortgages to please you. (2) The trick they set for the company is: try to build as many cars as possible, and sell them to those who can't afford them, because I will provide them with loans; at the same time, sell the second, third, or even fourth car to those who already own a car, because I will also provide them with a steady stream of loans.This caused the three major U.S. automakers to expand production blindly, paving the way for future collapse. (3) They also set a trap for those banks and financial groups that do not belong to their own small group: I packaged these real estate loans, car loans, subprime mortgage loans, credit card loans and even loans into bonds or even subprime loans Loan bonds, and then come up with various derivative products to trap buyers.certainly.By the way, it also set a trap for foreign financial companies such as the Bank of China to buy Fannie Mae bonds, and thus set a trap for Ping An, which tried to acquire foreign financial groups. At this point in the matter, they don't need to press the "nuclear button" by themselves, because they are too familiar with the whole system, and they know too well that someone will help them complete the last step.All they have to do now is quietly leave the market with their money in their pockets and watch quietly as the illusion of prosperity in the U.S. market crumbles. The first step: the Federal Reserve began to raise interest rates to control inflation, so the borrowers of subprime loans began to be unable to repay the money, and the subprime mortgage crisis began.Those individuals, companies, banks and countries that had bought subprime mortgage bonds began to lose money, and the financial crisis in the United States began to expand.China began to suffer. The Chinese government lost 376 billion US dollars in purchasing subprime loan bonds, and Ping An Insurance lost 90%... Step 2: When they raised the oil price to $147 a barrel, a black hand behind the scenes pushed the U.S. Congress to investigate the oil price, so the oil price of $147 a barrel collapsed; and then waited for the Russian government to panic and get nervous Let's ask them to redeem these mortgaged shares at a high price.Wait for the Chinese government to come forward to pay for the acquisition of mineral resources companies by PetroChina, Sinopec, and Chinalco at high prices, and then pay for the hedging contracts signed by Chinese airlines, Shen Nandian, and CITIC Pacific. China has also begun to suffer. Step 3: After the US financial crisis began to expand, the confidence of the American people began to collapse, and the consumption bubble burst.The U.S. GDP fell by 0.5% in the third quarter and 3.8% in the fourth quarter.The problem of overcapacity of the three major U.S. auto companies has been exposed, and their operations are unsustainable, so they must seek support from the U.S. government.China has begun to suffer. In the past, the bubble consumption in the United States absorbed China's excess production capacity of up to 35% of GDP (referred to as export earnings), and now it is forcing China's export manufacturing enterprises to close down on a large scale. What I admire the most about international financial speculators is that they can escape unscathed. They don’t even need to worry about playing with fire, because they know what the government is most afraid of, whether it is the US government or the government of emerging markets.Therefore, they don't have to worry about the collapse of the currency market, because they know that the US government will definitely provide money to rescue them, and they must lend money to them in order to truly rescue them.This is because they know that the pensions of the American people are all in the capital market, so the government has to save them, and they control most of the transaction volume, so they must lend money to international financial institutions. For example, the US$700 billion rescue fund has been Ninety-five percent of the half used goes to financial institutions.Readers, this is the true essence of the US government's bailout. In this way, you can understand why Lehman Brothers applied repeatedly to become a bank holding company but was repeatedly rejected. On the other hand, after Lehman Brothers collapsed, Goldman Sachs and Merrill Lynch became bank holding companies within a few days, thus obtaining the Federal Reserve window. Borrow such direct huge support.Let’s take a look at this information compiled by Reuters (http://www.reuters.com/airticle/bondsNews/idUSN1555573420071115)!You will be surprised to find that Goldman Sachs people control all aspects of public institutions such as the US Treasury and exchanges, and they also control large hedge funds and asset management companies.At the same time, it can be seen that Merrill Lynch, Citigroup and AIG (American International Group), which have received capital injection, have executives who are inextricably linked with Goldman Sachs. All in all, for the international financial speculators, the crisis is an opportunity, but for the rest of the people, it is an unprecedented threat and disaster!In the face of this unprecedented challenge, how the Chinese government, enterprises and individuals respond, and how to understand the stock market and property market in 2009, please refer to each chapter of this book.