In the midst of auspicious snow, Ye Kai ushered in 1993.
The Lunar New Year has not yet arrived, but Ye Kai received a very good news: Russia has begun currency reform again.
Russia's first currency revaluation was in 1991, when Russia issued a new ruble to replace the ruble in circulation in the former Soviet Union. Now it is the second currency reform. Russia announced that it will stop using the Soviet ruble from 1961 to 1992 and the ruble issued by Russia in 1992.
Ruble, only the 1993 version of the new ruble is allowed to circulate.
In order to explain to Ye Kai his income in the past year or so, Zhong Liyu flew over from the river and came to Longcheng.
After receiving Zhong Liyu, Ye Kai's mood, which had been somewhat quiet recently, became much brighter.
Also visiting on the same plane as Zhong Liyu were Li Wu, four female bodyguards of Zhong Liyu, and several financial experts directly employed by Zhong Liyu. They brought a lot of information about Ye Kai's book income.
Written information.
"Russia can no longer hold on. The first currency reform failed after only one year." Zhong Liyu looked good. It was obvious that the good news from the far north made her feel suddenly stressed.
reduce.
In the past year, as Ye Kai's various assets invested in Russia have increased like a snowball, Zhong Liyu has become very nervous. Although the expansion of these wealth makes her heart beat, but can it be saved?
It is indeed a relatively difficult thing to get them and transfer them smoothly.
On the Russian side, Yeltsin believed too much in Western countries, and under the thumb of the Americans, he implemented shock therapy in an attempt to save Russia's collapsed economy.
The highlight of shock therapy is also the first step. It is to let go of prices.
The Russian government stipulated that starting from January 2, 1992, 90% of the prices of consumer goods and 80% of the prices of means of production will be liberalized. At the same time, restrictions on income growth will be lifted, and the wages of public employees will be increased by 90%, and pensions for retirees will be increased.
It was raised to 900 rubles per month, and family allowances and unemployment benefits also increased accordingly.
In the first three months of price liberalization, the results seemed to be immediate and obvious. Long shopping queues disappeared. There were a dazzling array of goods on the shelves, and Russians who were used to long queues for tickets seemed to see the benefits brought by the reform.
But not long after, prices skyrocketed like a kite with its string broken.
By April, consumer goods prices were 65 times higher than in December 1991.
The government originally wanted to stabilize prices through state-owned stores, but unexpectedly, black market vendors colluded with state-owned store employees to resell the goods and make huge profits. The government's wishful thinking failed, and the market order was thrown into chaos.
Due to the premature liberalization of fuel and raw material prices, corporate production costs increased sharply. By June, the wholesale price of industrial products rose 14 times. Such high prices discouraged buyers. The consumer market continued to be sluggish, and weak demand in turn suppressed supply. Enterprises
Production has been reduced one after another, and market supply and demand have entered an endless cycle.
The second step of shock therapy was the introduction of fiscal and monetary "double tightness" policies and price reforms almost simultaneously.
Fiscal austerity is mainly about increasing revenue and cutting expenditure, increasing revenue and reducing expenditure. All tax incentives are cancelled, all goods are subject to 28% value-added tax, and consumption tax on imported goods is levied. In conjunction with the revenue-increasing measures, the government has reduced public investment, military expenditures and office expenses, and reduced the budget
Foreign funds are included in the federal budget and local governments are restricted from using bank loans to cover deficits.
Tightening monetary policy includes increasing central bank loan interest rates, establishing a deposit reserve system, and implementing loan limit management to control money flow and curb inflation from the source.
However, this time the government miscalculated again.
Due to excessive tax burdens, corporate production has further shrunk, and the number of unemployed has surged. The government has to increase relief subsidies and direct investment, and the fiscal deficit has risen instead of falling. The tightening of credit has caused serious shortages of corporate liquidity, and companies have defaulted on each other. Triangular debt has become increasingly serious.
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The Russian government was forced to relax monetary policy and issued an additional 18 trillion rubles in 1992, 20 times the amount issued in 1991.
Amid the roar of the money printing press, fiscal and monetary tightening policies failed.
"The problem we are facing now is whether to sell some fixed assets in Russia and cash out the funds? We cannot make the final decision on these matters, and we have to make your own decision," Zhong Liyu said.
"What advice do financial experts have?" Ye Kai asked.
"They feel that now is not the time to maximize their interests." Zhong Liyu replied.
Thinking about the issue from the perspective of financial experts, they believe that the situation in Russia has not reached its worst yet, so they do not agree with selling these industries now. If it is left in one or two years, these assets will probably double.
About times.
"What suggestions do you have?" Ye Kai asked again.
"In my opinion, the environment in Russia is a bit messy, so we should just accept it as soon as possible. We can consider cashing out half of it first. At least after we pay off all the debts, we can still gather about 40 billion US dollars in cash flow in our hands. With that,
After this money, many things will become very convenient." Zhong Liyu suggested, "As for the remaining assets, I think you should choose according to your previous ideas, such as mineral energy and other industries, these are the future
There is no need to worry about any problems in industries that will produce instant wealth effects."
Ye Kai nodded and said, "I'll just do what you said. Let's settle the bond market first. I always owe so much money and I really don't feel at ease."
"Understood." Zhong Liyu smiled and said.
Previously, Ye Kai owed a stock debt through various channels just to bet on the sharp depreciation of the Russian ruble. Now that this goal has been achieved, of course, profits must be taken. This part of the paper assets must be converted into US dollars.
It will make people feel at ease.
As for the privatized Russian mining and oil industries, there is no need to worry, because Russia is currently privatizing these industries. There is no problem with this general trend. Even if arbitrage sales are needed, they will not be needed until ten years later.
issues to consider.
Generally speaking, Yeltsin is a bit naive. He believes in capitalist market competition and believes that things that have been privatized naturally need to strictly abide by market laws, so there is no need to worry about anything while he is in power. But when he
After the successor comes to power, you need to be extra careful. The former Soviet agent is very scheming and difficult to deal with. Once that time comes, you should transfer all your assets and leave Russia.
However, Ye Kai is still very satisfied with the current income, which is more than 40 billion US dollars. It is only half of this income. According to the latest foreign exchange exchange rate, it is almost more than 200 billion yuan, which is more than the national foreign exchange reserves.
It's a lot of money. It's a huge income.
"Have you thought about what to do with so much money?" Zhong Liyu asked.
Regarding these more than 40 billion US dollars, Zhong Liyu was a little confused for a while. Although she was now in charge of the East China Shen Yun base worth billions of assets, she also controlled Russian assets for Ye Kai. But once
Cash out, she really doesn't know where to invest such a large amount of income?
You can't just throw such a big sum of money into the bank, right?
For most wealthy people, money is meaningful only when it is moved to make money. Putting it in the bank to earn interest is not something worth encouraging.
"Well, I have some considerations." Ye Kai nodded and said, "I have selected a few American companies. You can help me quietly buy their stocks. It doesn't take much, just about 10%."
Zhong Liyu took the list given by Ye Kai and looked at it without paying much attention to anything else. However, she saw Microsoft on the list at a glance and couldn't help but be a little surprised.
"Microsoft? Bill Gates was named the world's richest man by Forbes magazine last year, with assets exceeding US$6.8 billion." Zhong Liyu said, "To acquire about 10% of Microsoft shares, it would cost about US$4 billion.
"
Microsoft stock was listed on March 13, 1986. At that time, it was worth 21 yuan per share. It has been growing for more than six years. When it first went public, Bill Gates's net worth was only 100 million US dollars. Six years later, it was already $100 million.
More than 6.8 billion US dollars, this kind of money-making speed is indeed amazing.
In fact, many people are paying attention to this company that makes money at an extremely fast rate, but there are still not many people in China who know them well.
Zhong Liyu has heard that there is a program running on every Microsoft employee's computer. This program is a big cartoon face. The expression of the face changes with the fluctuation of the company's stock. Whenever the company's stock rises,
, this program will make you smile, otherwise it will make you frown.
"This is not surprising at all, because Microsoft employees have employee stock options and they all hold shares in the company. When the stock price rises, everyone's pockets will swell; when the stock price falls, everyone's pockets will shrink.
"Ye Kai smiled and said to Zhong Liyu, "Microsoft creates millionaires almost as fast as they package software and ship it to the factory. In addition to Gates and Allen, the assets of the 11 elders of the company range from 1 million to 100 million US dollars.
No wait, the result of this is that everyone is working hard, hoping that their efforts can increase the company's stock price, even a little bit."
"Is it necessary for us to imitate this model?" Zhong Liyu started to think about it after hearing what Ye Kai said.
At this time, Ye Kai owned many companies. Although some were under the names of women, they were actually supported by him. Considering the subsequent development of these companies, Zhong Liyu felt that it would be better to tie up the talents.
The best way to stay in the company is to give them a certain amount of equity.
"This is necessary." Ye Kai nodded in agreement, "However, we can adopt the method of equity plus options, which not only allows them to get some benefits, but also leaves them with some motivation. They cannot lose their pursuit."
Equity represents current interests, and options are meant to encourage everyone to continue working hard. It will not work to just rest on your laurels.
"However, the East China Shen Yun Base has become more and more important now. I am worried that our equity distribution plan will encounter opposition from relevant parties. After all, the nature of military industrial enterprises is different." Zhong Liyu raised another question.
"It doesn't matter. Equity and management rights are two different things. Besides, employee shares actually determine how many shares they have. You can consider using 10% of the shares as equity incentives. Please worry about the specific situation." Ye Kai replied.
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In fact, domestic work in this area has already begun, such as the privatization of state-owned enterprises, etc. Ye Kai's company is itself a private company, but it is relatively large. From this aspect, the problem is much simpler.
"Actually, I asked you to come here just to talk about these things." After talking for a while, Ye Kai said to Zhong Liyu, "The scenery in Dragon City is pretty good, especially after it snows. Now that I'm here, I'll
Let me relax with you for a few days."
"That's fine." Zhong Liyu looked at Ye Kai, smiled and nodded in agreement.