Republic of China game

In the conference room of the Central Bank, steaming hot coffee has been brought up to refresh the party and state officials in the meeting.Luo Yaoguo, who was randomly appointed by Hu Hanmin as the director of the Bureau of Foreign Exchange Control, together with Luo Yiqun, the Premier, Kong Xiangxi, the Governor of the Central Bank, Song Ziwen, the Minister of Finance, Bei Zuyi, the President of the Bank of China, Zhang Gongquan, the Minister of Communications, Sun Ke, the Mayor of Wuhan, and the Director of the General Administration of Customs Dai Ensai, Li Ming, Director of the Public Bond Fund Custody Committee, and a large group of heads of financial and economic departments of the National Government gathered together to discuss countermeasures overnight.Also present at the meeting were Wu Ziliang, director of the Military Intelligence Bureau, Feng Tian, ​​director of the Central Party Investigation Bureau of the Kuomintang, who had just been reinstated, and Song Meiling, secretary-general of the Ministry of Armaments.Uh, this big sister thinks she is very talented in finance and economics, so she should come to help with advice...

"...Our current situation in China is really a bit special." Luo Yaoguo took two sips of coffee to refresh himself, and sighed: "Otherwise, with our sufficient foreign exchange reserves, there would not be a currency crisis. Our China After all, there is no real unification, and there is still a country within a country like the concession, so although we have established a foreign exchange control bureau, there is no way to really prohibit the free trading of legal currency. My idea is... what we actually want to implement The political booklet should be a 'dual-track system' of foreign exchange control."

"I discussed this issue with President Kong and Minister Luo on the way back from the United States." Song Ziwen took over the topic. He gently turned the coffee cup in his hand, pondered for a while, and then said: "Our thoughts Yes, instead of letting others control the speculative buying and selling of fiat currency, it is better for us to control it ourselves! We can now control the Shanghai Stock Exchange. Although this exchange is located in the Shanghai International Settlement, its board of directors is under our control In the middle. Shanghai Mayor Zhang Jinggong (Zhang Jingjiang) is the chairman. So we plan to launch fiat currency spot and futures trading on the joint exchange tomorrow morning, so that people who want to speculate... have a convenient and fast platform!"

Luo Yiqun's expression seemed to be a little nervous: "Hey... Tomorrow's fiat currency will definitely fall in the Shanghai market, but I don't know how much it will fall? It's not a big problem if it falls less, but if it plummets..."

These words can be said to speak to the hearts of everyone.In fact, it is simply unrealistic for the Kuomintang to completely control the transaction of legal currency at the moment.Not only is the large-scale speculation in the Shanghai Concession uncontrollable, but also the tens of thousands of banks and pawnshops scattered in southern China will also have a considerable degree of semi-underground transactions.What the foreign exchange control bureau can really control is the [-] million US dollars in reserves in the hands of several big banks and the central bank.It can guarantee a situation that will not collapse... But if the price of the "black market" brand drops so badly, then the Kuomintang's economy will be hit hard if it does not collapse!

"That's why we have to take the initiative to control the legal currency trading in the concession! We must control the pricing power of the 'black market' legal currency." Luo Yaoguo patted the table lightly, with a wry smile on his face: "We are not the ones who really price the legal currency Here, it is the Shanghai Stock Exchange. At present, Shanghai has developed into the financial center of China and even East Asia. Many major British and American banks have their East Asian or Asian headquarters in the Shanghai Concession. There are also five of the top ten banks supported by us. The headquarters of Nanyang Capital is in the Shanghai Concession, and the remaining five banks controlled by Nanyang Capital also have branches there. According to the statistics of the Central Bank, the total deposits in legal currency in domestic and foreign banks in Shanghai are as high as 50 billion yuan! 20.00% of the total money supply five! If these fiat currencies are all exchanged for foreign exchange... the black market for fiat currencies may also collapse."

Luo Yiqun's face turned pale when he heard what his nephew said, and said in a trembling voice: "This... this... what should I do? What should I do!"

Chapter 0402 currency war (five)

Fall is for sure!The key question is how much...

On the night of March [-], almost all the leading figures in the economic and political circles in East Asia gathered together to discuss how much the paper currency issued by the Chinese National Government should fall.

Japan, Kasumigaseki, Tokyo, Prime Minister's Office.

Japanese Prime Minister Yuyuki Hamaguchi is also in his prime minister's office at the moment, and the leaders of the Japanese financial circles are thinking about how much the KMT's legal currency will fall, or...how much does Japan want it to fall?In fact, the driving force behind the "fiat currency crisis" encountered by the national government this time is Japan!It's just that the elites in Japan's political and financial circles are in charge of this conspiracy, not the Japanese army who only know how to do things blindly.So they've been hiding pretty well so far.So much so that the CCP and national capitalists who participated in the fight against legal currency still don’t know anything about it!

Yuyuki Hamaguchi, who is known as the prime minister of the lion, is sitting behind the desk at the moment, with a faint smile on his face.Today seems to be the happiest time since he assumed the post of prime minister. China, which was about to climb to the top of the Japanese Empire, finally stumbled this time!It turned out that he was still a little worried, and always felt that using the hard-earned money of the Japanese people to run on the legal currency seemed... a little risky.It's not that they are afraid that the Kuomintang can conjure up some tricks to turn the tide, but that the American consortia on the other side of the ocean will give the Kuomintang a hand at a critical moment.According to the report of the Japanese Consulate General in New York, John Pompet Morgan Jr. visited the Kuomintang delegation in person last month!This Morgan controls a total capital of 740 billion US dollars.In fact, he didn't need to spend a penny at all. He only needed to say a word or even make a look at a critical moment, and he could make the "plutocrats" in this room lose their fortunes in fiat currency speculation.But now it’s all right, the Kuomintang actually "fleeed without a fight" at the critical moment, chose the shameful "non-resistance policy" and gave up the entire northern branch banknote market to the golden ticket of Great Japan!Oh, as for the silver dollar certificate, hehe, the Empire of Japan has never paid attention to it...

However, Yuyuki Hamaguchi still has some troubles right now.Although we won this time without a fight, half of China's banknote issuance market is about to be obtained.But... Those chaebols who actually don't have much money are now gearing up to take advantage of the victory.

"Your Excellency Prime Minister, according to the situation held by the Bank of Japan and the Ministry of Finance, the national government has issued a total of more than 60 billion yuan in legal currency, and the total amount of legal currency after the amplification of the 'multiplier effect' of the banking system is as high as 200 billion yuan! And these The largest concentration of legal currency funds is the current financial center of China, Shanghai, or more precisely, the Shanghai Public Concession and the French Concession. It is difficult for the National Government to fully control the place, and the foreign exchange control measures promulgated by the National Government are there. Effective. According to statistics, the major Chinese and foreign banks in the Shanghai Concession now hold a total deposit of more than 50 billion French currency! Accounting for a quarter of the total supply of legal currency, if half of this money is in the next few days If the sky hits the market..."

The person who spoke was Junnosuke Inoue, the most famous banker in Japan at present, the Minister of Finance of the Hamaguchi Cabinet and the President of the Bank of Japan (the Central Bank of Japan).

Yuyuki Hamaguchi shook his head slowly, and there was no trace of a smile on his serious face: "If one dollar is exchanged for five fiat currency, 25 billion fiat currency will hit the market, and only 15 million U.S. dollars can be eaten. The national government currently holds about 5000 million U.S. dollars and an unknown amount of gold reserves. In addition... there are more than [-] billion silver dollars and [-] million taels of silver in the top ten banks and the Central Bank of China. Such reserves are compared to the empire It’s almost the same? Why should we beat them?”

"Hahaha... Your Excellency, Prime Minister, we did not intend to destroy the legal currency. We are merchants, not soldiers. The responsibility of merchants is to make money, and to earn that person's money for the empire! Now is the best opportunity." This speech The one was a big fat man in a neat suit.This guy who looks at least two hundred catties, has so much flesh on his face that there is nowhere to pile it up, and the guy whose fat all over his body is trembling when he smiles is Baron Iwasaki Koyata, the head of the Japanese Mitsubishi chaebol.

"What? Don't break the legal currency?" Yuyuki Hamaguchi was taken aback when he heard the words, and his gray eyebrows gradually frowned.

Seeing the Prime Minister's puzzled expression, Iwasaki Koyata's fat face flashed a smug smile, and he laughed: "It's not just legal currency that is listed on the Shanghai Stock Exchange. There are also hundreds of stocks, dozens of Various bonds, precious metals such as gold and silver, and bulk commodities such as oil, flour, and coal. When the market opens tomorrow, everything there will fluctuate greatly! And we have already mobilized huge amounts of funds to Shanghai, and we can launch them at any time Attack. During this time, Mitsubishi Bank, Mitsui Bank of the Mitsui Zaibatsu, Sumitomo Bank of the Sumitomo family, Yasuda Bank of the Fuji Foundation, Yokohama Specie Bank, Bank of Korea, and Bank of Taiwan have all received money from major banks in China and Shanghai. European and American banks have borrowed cash of one billion French currency! In addition, the China Bank of Communications, which is jointly controlled by the China Beiyang Consortium and Yokohama Specie Bank, has also prepared nearly 16 million French currency in cash. In addition, Tianjin has China North Fourth Bank, Beiyang Industry Big banks such as Bank of China, Bianye Bank, and the official bank of the three northeastern provinces have also prepared more than [-] million French currency in cash. A total of [-] billion French currency can be used to short the stock market and bond market of China, and to speculate on commodities such as oil, flour, and coal. commodity."

Hamaguchi Yuyuki himself is also known as a financial expert. After being called by Iwasaki Koya, he suddenly realized: "Hehe...the people in the Iwasaki family are indeed masters in business. They quickly found an opportunity to make money from such a chaotic situation. The Kuomintang and the Jiangsu-Zhejiang Consortium and the Nanyang Consortium, which are pro-KMT, will mainly defend the legal currency tomorrow. In order to stabilize the market of the legal currency, they must tighten the monetary policy and increase the bank lending interest rate, which will cause blood loss in the bond and stock markets. At the same time, the legal currency crisis 'The panic caused will also prompt investors to sell bonds and stocks, and transfer funds to commodities that can preserve their value. And you take advantage of the situation to sell short bonds and stocks, and speculate on materials, so that you can wipe out the wealth of the Chinese people without bloodshed. It's become an empire."

Inoue Junnosuke smiled and added: "The benefits are more than that. At present, the top ten banks in China can hold a large number of stocks and bonds! If the stock market and bond market plummet tomorrow, these banks are very likely to Bankruptcy and bankruptcy will drag China's economy into the abyss! In addition, the skyrocketing commodity prices will also push up the domestic inflation level, causing the lives of ordinary people in China to fall into abject poverty, and may even lead to revolution... I think the Communist Party of China People will not pass up such an opportunity, right?"

"Well, you guys did a good job this time. It's just... have you considered the attitude of the Anglo-American consortium? In case they make a move..." Yuyuki Hamaguchi touched his beard and expressed his hidden worries.Compared with Japan, the current relationship between the Chinese Kuomintang regime and the United Kingdom and the United States seems to be much closer.The Japanese chaebols in front of us may be able to easily defeat the Chinese chaebols, but compared with the British and American chaebols, they are vulnerable.

"Please rest assured, Prime Minister. We are fully confident that the Anglo-American consortium will not do such a good job." The person who answered the question was an old man with a clear face, named Tuan Takuma, who was the chairman of the Mitsui Joint Stock Company and the helmsman of the Mitsui Zaibatsu. His understanding of the European and American financial circles is second to none in Japan.He smiled slightly, and said again:

"Actually, the huge amount of funds we mobilized this time are stored in the accounts of major Anglo-American and French banks such as HSBC, Citigroup, Macquarie, and Agricole. And we will also use those accounts to impact China's finances. As far as we know, those European and American The bank has not reported any news to the national government. These European and American consortiums are not controlled by their own government, and their sole purpose of existence is to create wealth for shareholders. Therefore, when it comes to the critical moment, they will not step on the foot of the Chinese. It is the best of benevolence, and it is completely unrealistic to ask them to help."

Yuyuki Hamaguchi breathed a sigh of relief, and said with a smile: "Since Mr. Tuan has said so, why should I worry about it as the Prime Minister? After all, this time it is mainly the funds of the chaebol. But... you have money in your hands. There is also the hard-earned money of all the people, so please be careful, and the money of the people must not be lost at all!"

……

As soon as Zheng Tieru, president of the United Reserve Bank of China, heard the news that the Kuomintang was planning to implement foreign exchange controls, he immediately exclaimed: "The Kuomintang is about to end!"

At the moment, he and Zhang Naiqi are drinking tea in a guest room in Shuncheng Emperor's Mansion, discussing what tactics they should adopt tomorrow to economically attack the Kuomintang reactionaries.Mao Zemin rushed in suddenly, holding the newly translated telegram in his hand.This is news from Yan'an in northern Shaanxi, and it is absolutely reliable.

Mao Zemin apparently ran over. Panting heavily, he took a big sip from the tea bowl on the table, and then spat out a little tea powder: "Mr. Zheng, what do you say? It's over? They still have so much foreign exchange reserves, gold and silver, and hundreds of thousands of troops, how could it be possible..."

Zhang Naiqi sneered: "Of course it didn't fall all at once. It should last for a few years, but once the finance is over, hehe...how long can they last? They are a capitalist system."

"Is their finance finished?" Mao Zemin pulled up a chair, sat down, picked up the telegram in his hand and read it twice.The above didn't seem to say that the Kuomintang's finances were about to end, but only that their legal currency might plummet. As for how much it would fall, he had to consult two experts, Zheng Tieru and Zhang Naiqi.

"Of course it's over." Zhang Naiqi sighed: "Luo Yaoguo is fine as a general commanding wars and so on, but he wants to play finance... Hehe, he's still young. Hu Hanmin actually listened to his idea and wanted to implement foreign exchange control. Can this kind of system be implemented in a country like ours? The country is not unified, and there is still a country like the concession. Can you control it? The more dangerous thing is that the financial center is still in the Shanghai concession. If they take out foreign exchange reserves Come on, maybe there is still a glimmer of life. But now..."

Mao Zemin frowned, and glanced at the national capitalist who always half-spoken.A trace of displeasure flashed across his face: "Mr. Zhang, can you make it clearer?"

Zhang Naiqi shook his head and sighed: "It's like two armies at war, and our side may not necessarily win. After all, the most we can raise is more than one billion French coins. And this is the upper limit, because we leaked it here. Rumor has it that the pro-KMT banks will definitely tighten their monetary policy. Maybe we only have ammunition of less than one billion French currency, while their foreign exchange reserves are 15 million U.S. dollars, silver dollars should be [-] billion, and gold is always a few million taels. Yes. In addition, the pro-KMT commercial banks also have a lot of foreign exchange... If they face it head-on, they may survive the tough ones. But these guys are too weak, and they chose to flee without fighting! This way they won’t be hunted down. Losing a big loss? The capital that was originally on the sidelines must now join the ranks of shorting! Moreover, it is not only legal currency that can be shorted now, but also stocks and bonds. In addition, it can also speculate on flour, coal, and oil And other bulk commodities, especially flour, are directly related to the price of grain in the areas ruled by the Nationalist Government! So... Tomorrow, the French currency, stocks, and bonds will definitely plummet, and flour will skyrocket. In addition, the current top ten banks in the South There are a lot of stocks and bonds in it. If these two things plummet at the same time, the capital of the banks will shrink greatly immediately, and they may go bankrupt one after another. Can the economy of the Kuomintang be maintained in this way? Haha, they are going to die now Yes! Maybe next year today, this city of Beijing will be ruled by the people!"

Mao Zemin glanced with a complicated expression. The two proud national capitalists in front of him don't know if they should be happy?Or should we be afraid?He really couldn't figure out that his own party could benefit these national capitalists more than the KMT?

"Mr. Zhang, Mr. Zheng. What do you two think our Reserve Bank of China should do tomorrow?" Mao Zemin took a deep breath, forced a smile on his face, and asked again.

"Well... we are a bank after all, or a bank that issues banknotes." Zheng Tieru seemed to be hesitant: "Naiqi, this kind of speculative business is sometimes difficult to talk about. Maybe... the imperialists will help , to help the KMT tide over the difficulties..."

"Hehe, don't think about it. It would be nice if those imperialists didn't make trouble." Zhang Naiqi had the same opinion as Tuan Zhuaomo.He sneered: "The Kuomintang is doomed. The United Reserve Bank of China, why don't we transfer ourselves to Tianjin tomorrow and see what we can speculate on. Mr. Mao, what do you think? "

Mao Zemin stood up and paced the room with his hands behind his back.Speculation... sounds like "opportunism".Speculating with capitalists is "Right opportunism". This mistake is very serious!Besides, the task this time has been overfulfilled.Moreover, the money earned is not personal, if something goes wrong, if I can't keep it out, my brother may also fall along with him!

"Mr. Zhang, Mr. Zheng. Our party has always been down-to-earth and will never make such speculative money!" After thinking about the relationship, Mao Zemin turned around and looked at the two capitalists with a serious face: "Our party participated in the initiation The United Reserve Bank of China is mainly for the common people to have a banknote with a good reputation and never depreciates. It is not to engage in speculation, disrupt the financial order, and it is not to make a profit. Since the current legal currency of the Kuomintang is about to withdraw from the northern market Now, our goal of the first step is naturally achieved. So we don’t support taking speculative methods to make profits, do you understand?”

……

At this time, the meeting in the Kuomintang Central Bank building was still going on.However, there were a few more people in the meeting room.They are Tan Kah Kee, President of China Railway Company, Lu Yunhuai, President of China Iron and Steel Corporation, Ma Junwu, President of China Military Industry Corporation (who also serves as Deputy Minister of Armaments), Deng Zeru, Minister of Industry Department, Chen Guangfu, President of China Commercial Bank, and Lu Zuofu, General Manager of Minsheng Company.These people were not in Wuhan at first, but came by plane after receiving an urgent notice.

"Tomorrow's finances will definitely be turbulent, and the four things in the Shanghai Stock Exchange, including fiat currency, bonds, stocks, and flour, should be the most critical!" Chen Guangfu, who is known as the best banker in China, is standing in front of a blackboard at the moment, The eight characters "French Currency, Bonds, Stocks, Flour" were written in chalk.

Chen Guangfu smiled slightly: "The people here can already represent nine of the top ten banks. Except for the Bank of Communications, everyone is in the same boat this time! But I believe that as long as everyone can help each other, we will be able to tide over the difficulties." Yes. Because our opponents have miscalculated on one point, that is, tomorrow’s financial war will be fought at our home court! The rules there are all set by us! The referees are also our people! If they are sensible, no Come to attack, we give up the plate of French currency in the north, and there is no problem in keeping the stability of the south! If they want to attack, the only battlefield is the Shanghai Stock Exchange, then we will wipe them out there!"

"Then how do we eliminate them?" Naturally, Luo Yiqun, the most honest executive dean in the venue, asked the question.

"I don't know yet." Chen Guangfu shrugged and said with a smile: "Tomorrow we will fly back to Shanghai early in the morning and prepare to fight. But we will definitely win, and Dean Luo doesn't have to worry about that at all. However, if we lose People, I'm afraid they will be very unconvinced. Assistant Commander (Luo Yaoguo), are you sure you can defeat them?"

Chapter 0403 The Darkest Day in World Financial History ([-])

In the early morning of March 17, 31th year of the Republic of China.When the first ray of morning light in spring shines on the runway of Wuhan Airport through the veil-like mist.A Junkers J[-] airliner with a luxurious and comfortable interior has turned its propellers and is gliding to go straight into the sky.

Sitting in this plane were Luo Yaoguo, Kong Xiangxi, Song Ziwen, Song Meiling, Chen Guangfu, Bei Zuyi, Wu Ziliang, Feng Tian, ​​Natalie and other Kuomintang financial and economic leaders, as well as secret agents and coffee masters.The "Luo Yaoguo Oral Memoirs" published by later generations describes the situation at that time as follows:

"On this day, I walked into that Junkers plane with the mood of going to the battlefield. I knew that the place I was going to was the battlefield! There was an invisible war waiting for me. All the signs at that time were gone. It shows that the elites in the financial and economic circles of the old Japanese Empire are preparing to wage a war against us in a financial way. Moreover, some local Chinese capital is joining hands with them. It is in line with the law and the rules of the game in the financial industry! The capitalist system allows the use of financial means to destroy a country’s economy and plunder their wealth. Therefore, from the perspective of justice and neutrality, what they have done cannot It is wrong to say. And there is no right or wrong, only interests and rules. What they have to do is in line with the rules of the game. The previous practice of various countries also told them that they will win this big bet. It's just...they met For us, this is a war waged by means of financial speculation, and we have encountered financial speculation waged by means of war! Hahahaha... In fact, they were legally robbed by us, yes, legally robbed. Hehe, because we made the law and enforced it ourselves. I heard that some of these unlucky guys committed seppuku suicide at home that night! What a pity. As for... this day is the world financial The darkest day in history, well, maybe, but this industry has never had a bright time in my opinion. However, I have also heard a strange saying recently that the old Japanese empire finally took the road of militarism from It started on that day. According to those historical experts, it seems that without that incident, the Japanese would have gradually embarked on the road of democracy and freedom instead of becoming a militaristic country. I am totally against this absurd statement I can't agree, Japan has always been an out-and-out militaristic country! They have always been..."

When the plane flew to an altitude of [-] feet, the cabin was quite noisy and a bit cold.Most of the passengers seemed to be in a heavy mood, except Luo Yaoguo, Chen Guangfu and Natalie who were talking and laughing.At that time, it was almost unthinkable to use the power of the government and the money printing machine of the central bank to intervene in the financial market strongly!And no one has tried it before, Luo Yaoguo has created a precedent or a bad example.So that in the future, this kind of shameless intervention in the financial market by using the power of the regime by unscrupulous means to maintain the stability of the regime or amass wealth is called "Luo Yaoguoism"!Uh, time travel has come out of the doctrine, it can be seen that it is still very successful.

"Brother Guangfu, try Natalie's coffee making skills, it will never be worse than those in Shanghai's cafes opened by foreigners." Luo Yaoguo smiled and picked up the coffee Natalie brought, and took a shallow sip .In this era, instant coffee has not yet been invented. For Luo Yaoguo, who was used to drinking coffee in his previous life, it is a good thing to have a concubine who is good at handling coffee, and he often brags about it in front of others.

Chen Guangfu picked up the small coffee cup, took a sip, and said with a smile: "Well, it is really fragrant and delicious, and the craftsmanship of the third wife is really superb. When I enter the exchange later, I will rely on it to refresh myself Yes, the third wife has to be entrusted to you. Otherwise... if we fall asleep in the exchange, something bad will happen."

As soon as the joke was uttered, everyone in the cabin also showed a rare smile. I don't know if Chen Guangfu's joke was really funny, or if it was the occasion to accompany the laugh.In this seemingly relaxed atmosphere, Chen Guangfu gently turned the coffee cup: "We have two weaknesses and two strengths in this battle. Weaknesses are French currency and flour, while strengths are stocks and bonds. If the opponent just sells Sending out fiat currency, pushing up the flour... If the range is not too high, we will have no way to 'catch' them! So we beat them to the ground from the beginning today, first knock down the fiat currency, and push the flour up!"

"What!" Soong Meiling exclaimed, staring at Chen Guangfu with bright eyes full of suspicion.

Luo Yaoguo just nodded, and said with a smile: "The exchange is in our hands, and they can't steal it from us unless the price is set too high. If that's the case...they're looking for death!"

Chen Guangfu sneered: "Since they are here, they will definitely not let go of the opportunity. Besides...there is no such thing as us in the world before, so don't worry about them retreating in spite of difficulties. We get In the past few days, Japanese funds have borrowed a large amount of legal currency cash through Anglo-American banks, with a total amount of about 10 billion yuan! Including the legal currency cash in the hands of the Shanghai Head Office of the Bank of Communications, they should have 15 billion legal currency cash in the Shanghai market According to the current game rules of the exchange, stocks, bonds, and flour can be bought and sold short, and can also be overdrafted. In addition, there are stock index futures, bond futures, and flour futures... Haha, what a big casino! I guess in The Japanese, who have not made much gains in fiat currency and flour, may aim their firepower at the four major sectors of stocks, bonds, stock index futures, and bond futures. That is the type with the largest trading volume and participating investors! Let's fight with them there Go to war and wipe them all out!"

……

Tianjin British Concession, Victoria Road.There is also a small stock exchange here.Unlike the splendid and luxurious United Exchange building on the Bund in Shanghai, this exchange is only on the third floor of the British-owned Macquarie Bank building.There are several large and small trading halls, which are responsible for the transactions of currencies, stocks, bonds, and materials.It is deserted on weekdays, there is not much trading volume, and it is even rarer to see the real big boss on the ground in Tianjin.But today...the place suddenly became crowded.