Chapter 98 At 2 pm on September 18, 2008, the world's financial system almost collapsed!

Due to information asymmetry, the Chinese almost completely did not understand what kind of catastrophe the wealth of people all over the world was facing at that moment.Yes, this is not the "Inception" of the sci-fi blockbuster, nor is it a disaster drill for the financial system, but a financial nightmare that actually happened in reality!The whole world sleepwalked before the dollar collapsed, but the vast majority of people still don't know it! This is the most terrifying super-scale "bank run" event in modern history!To this day, the details of what happened on that day are still closely guarded.

The first to reveal this incident was U.S. Democratic Congressman Paul Kandrowski. In February 2009, he leaked this amazing news while doing a talk show on C-SPAN TV in the United States. "Thursday (September 18, 2008) at 11:00 am, the Federal Reserve found that in the U.S. money market, as much as 550 billion U.S. dollars of funds were 'crazy run' by international investors within 1 to 2 hours. The Treasury Department opened the bailout window in an emergency and immediately injected $105 billion to try to stop the frenzy of capital flight, but they soon realized that it was not going to help.We are facing a run on electronic banks.

The Treasury Department decided to stop all transactions, freeze all accounts urgently, and announced that the US government guaranteed the safety of $250,000 in each account to prevent the spread of panic. If they don't take these measures, by two o'clock in the afternoon, all 5.5 trillion U.S. dollars in the U.S. money market will be sold out, the U.S. economic system will completely collapse, and within 24 hours, the world economic system will also be completely paralyzed. If this happens, the U.S. economic landscape and political system as we know them will change beyond recognition. "

U.S. Senator James Inhofe said in a radio interview in Tush, Oklahoma, that Paulson, then Treasury Secretary, urged members of Congress to pass the bill to save Wall Street, and even threatened to vote against it. vote, there may be major social unrest in the United States, and the government will have to declare martial law. Comprehensive military control in American society?This is probably a scene that people can't imagine at all.What kind of crisis could have plunged society into such chaos?This is the dollar crisis! To understand that a run on the U.S. money market will lead to a dollar crisis, we must first understand the significant role the money market plays in the U.S. economy.

Unlike Chinese companies, American companies seldom turn to banks for short-term loans.When companies need short-term borrowing within 270 days, they often use short-term commercial paper to finance directly in the money market.These commercial papers are a kind of IOU, which are generally based on corporate credit and are easy and convenient to issue.Even if the company needs money on the same day, as long as it notifies the commercial paper dealer to issue the "promissory note" in the morning, it can get cash in the afternoon of the same day.Therefore, companies often distinguish short-term expenses such as wage payment, raw material procurement, transportation and warehousing, rent, water and electricity from the company's medium and long-term development capital needs. High capital market in order to fully mobilize the effectiveness of every penny in the company's account.It can be said that the daily operations of millions of companies in the United States are inseparable from commercial paper and money markets.In addition to commercial paper, various types of short-term bills such as short-term treasury bonds, federal funds, bank acceptances, repurchase agreements, and certificates of deposit rely on the money market for transactions.

If the $5.5 trillion U.S. currency market is frantically squeezed by international investors and completely dried up in a few hours, then the cash flow of almost all companies and enterprises, financial institutions, federal and local governments in the United States will be completely broken in an instant. Within 24 hours, we will see the following alarming scenes: ·The U.S. financial market collapsed, stocks plummeted, bond prices plummeted, financial institutions across the country stopped funding transactions and settlements, banks were unable to operate, ATMs stopped withdrawing money, banks The company and personal accounts of the company were completely frozen.

Panic crowds lined up in banks, distraught customers yelled curses, and a handful of radicals began destroying ATMs. ·The production, logistics, transportation, procurement, and storage systems of many companies are paralyzed because the companies cannot pay various expenses. · There was a cash rush in major supermarkets because consumers could not swipe their cards to buy. ·Government civil servants, policemen, and the masses took to the streets to march together, and the traffic was basically paralyzed, because they couldn't get their wages, and their cars couldn't refuel.Families without cash are unable to buy food and medicine.The angry crowd rioted.

·Schools, hospitals, office buildings are left without electricity and water because they cannot pay their electricity and water bills, and power plants, water companies are at a standstill because they cannot pay for the raw materials they produce. ·A large number of American fighter jets cannot take off, warships cannot sail, tanks, and cars cannot drive, because the money in the military account is frozen due to the suspension of government short-term bond financing. ·The United States government declared a state of martial law across the country. Twenty-four hours later, the disaster began to spread to the whole world.Financial markets around the world opened one after another, and after hearing the shocking news from the United States, the prices of all financial products collapsed.The capital exchange and liquidation of financial institutions in various countries were completely in chaos. Chinese exporters refused to ship the goods because they could not get the payment. Oil exports in the Middle East came to a standstill due to lack of money. People answered the phone, the European Central Bank announced a state of emergency and tightened monetary policy, government bond refinancing failures in many European countries announced the freeze of civil servant salaries, European workers went on strike, and major airlines around the world canceled flights...

When the world financial market fell into the above-mentioned horror reverie on September 18, investment institutions immediately acted. When they tried to seize the chance of escape, they instinctively rushed to the "Noah's Ark" in the currency disaster-gold and silver! Around September 18, gold soared nearly $100 per ounce in one breath, setting an astonishing record in the history of the gold market; silver soared more than 20% in a straight line, which stunned all investors.On the same day, other commodities, including other precious metals, were generally weaker. In other words, when there is a major crisis in the world currency and financial system, people's instinct is not to grab oil, steel, copper or zinc, but to rush directly to gold and silver.Undoubtedly, in the face of this monetary disaster, gold and silver immediately showed their long-forgotten monetary attributes!

Gold needless to say, since the financial tsunami, people have generally begun to accept the monetary properties of gold.The real amazing thing is silver!Like gold, silver is an out-and-out real monetary metal. Although its monetary attribute was only a flash of light on September 18, 2008, with the gradual decline of the U.S. dollar "Zhou Tianzi", silver's monetary attribute There will be a sudden rise, and its light will reach the blinding gold. The past of silver is no stranger to the Chinese. As the world's largest silver currency country, China was once the core of the world's economic and trade system.However, Chinese people today have a vague understanding of the huge strategic opportunities that silver will bring to China in the future.

Not only was silver once the world's currency, but silver will also create a major strategic opportunity for China's rise!