Chapter 20 The invisible backstab is the most deadly
December 18, 1990.
Beiyuan Interactive Entertainment TV Station, which had just been dormant for a while, suddenly broke the big news and released a set of internal data from Shanyi Securities.
The data shows that the real debt amount of Shanichi Securities, which the Ministry of Finance claims has no operational risks or financial crises, is as high as 20 trillion yen!
This is the total net debt after excluding assets and profits, which means that while all customers of Shanichi Securities lost their money, the company also suffered a loss of 20 trillion yen!
After being broadcast during the morning news time, this blockbuster news was broadcast again in the midday news briefing. This data comes from important people within Shanyi Securities and is highly credible. The data and documents will be sent to the Ministry of Finance.
The subordinate Financial Services Department made another copy and sent it to the Ministry of Finance.
It can be seen that this is not fabricated false data.
The 20 trillion yen scandal spread rapidly, and the Ministry of Internal Affairs and Communications did not even have time to cut off Kitahara Interactive Entertainment's broadcast route, and the latter began to break negative news about three other leading companies.
Hanwa Kogyo's losses were as high as 2.97 trillion yen. The company has been heavily in debt since the bubble economy burst, but it is still on the National Assembly's special financial support list. It is intriguing.
The private mansion of Daishowa Paper President Saito Ryoui is worth 2 billion yen. It contains nearly 100 world-famous paintings, with a total value of more than 100 billion yen. However, his company has not paid employees' wages normally for two consecutive months, and its internal finances are in a mess.
, except for the paper mill just established in Kyoto, paper mills in other areas have been closed down due to the resignation of workers!
Daishowa Paper ranks second among the recipients of support, and can receive more than 800 billion yen in support funds!
The last company to be exposed is Mazda Co., Ltd. This company is a long-established automobile manufacturing company, well-known in Kyoto, and has not been included in the system by any consortium. Compared with the other three companies with many problems, Mazda is slightly better, but
That's just not that exaggerated compared to them.
In fact, the internal problems are already horrific. The debt exceeds 1 trillion yen, the latest models of cars are unsaleable, quality inspections fail, etc.
It is these four clubs that are all on the list of special financial support approved by the National Assembly, received joint financing projects from Tosan, and are thriving in Kyoto!
For a time, public opinion was extremely boiling, and doubts spread to this Congress!
Not long ago, Miyazawa Kiichi had just reorganized the House of Representatives after the transfer of power, and Chino Ryu was promoted to Chairman of the General Affairs Committee and Minister of International Trade and Industry. He also took the lead in drawing up this special financial support list, and he was also the one who applied to Congress!
The Chino family came from behind the scenes to the stage. As soon as they entered people's sight, they encountered such a heavy blow!
"Qian Yelong, have a caesarean section to apologize!"
"The Chino family is the biggest cancer in Kyoto!"
Similar sounds were heard endlessly, which put the Chino family under tremendous pressure.
At the same time, the two competing parties also began to show each other's trump cards.
The Prime Minister and the Cabinet, under great pressure, commissioned the Tokyo District Prosecutors' Office and the Osaka District Prosecutor's Office to conduct a thorough inspection of the current situation of the four major corporations, while continuing to discuss how to save the economic decline.
The main problem now is that if these support societies collapse, Japan's economy will be really hollow.
The stock market and real estate market are eroding, and traditional industries have been suppressed to the point of bankruptcy or transformation. These are the few industries that are still surviving. No matter how many problems there are and no matter how big the holes are, they must be blocked!
Otherwise, what new industry will be used to make up for the losses?
At this moment, Miyazawa Kiichi finally felt the pressure from that invisible opponent.
Inside the Prime Minister's official residence.
"Referring to the United States' savings and loan crisis relief policy and the handling of the 'Great Britain Lifeboat Plan', if these societies do not take corresponding measures, it will lead to unimaginable consequences. To restore the decline, we must swim upstream.
As long as public funds are invested accurately, the effect will be immediate!”
Miyazawa said in a deep voice, his face looking ugly.
The so-called public funds refer to a special asset formed by financing from the government, the Bank of Japan, local public entities and other institutions.
It is a kind of reserve fund. Every year, a sum of money is put into it from the government, the Bank of Japan, and other places. It accumulates over time and the amount is huge. It is a reserve fund used to save the country in extreme situations.
The owners are actually citizens who are constantly paying money.
Now there are only two parties that have the ability to save these clubs that are about to be in trouble——
Six major consortiums and public funds.
However, Chino Ryū had already contacted other giants of the Mitsubishi Consortium, and they did not want to pay for this stupid behavior of the prime minister's cabinet.
To put it bluntly, first the Prime Minister, the Cabinet, Congress and other people in power will be unlucky, and then the people, the economy, and many other people will be unlucky. But as long as the foundation of the consortium remains, nothing major will happen.
There is no benefit to them from saving the country!
Then, except for the Qianye family, which is closely related to this incident, other families will maintain a wait-and-see attitude.
Fuji Bank, which has a close relationship with Yamaichi Securities, did not take action. This surprised Kiichi Miyazawa. After all, Yamaichi Securities is a property of the Fuji Foundation!
But no matter what attitudes and thoughts they still have now, the imminent problem is here, and he must solve it.
How to solve it? Solve it with money.
Where does the money come from? Public funds!
As soon as he finished speaking, the current Tibetan Prime Minister immediately stood up and objected.
"The investment of public funds is generally used to save financial institutions. If all the off-book earnings of stocks disappear and major banks are insolvent, using it at that time will protect the interests of depositors, and the public will definitely accept it. But now
Investing public funds in those clubs is using people's money to fill holes for others. It is foreseeable that if we cannot withstand the subsequent turmoil, then the money will be completely wasted like the previous times...
.At that time, what should we use to replenish public funds?"
This is what worries him the most.
This chapter is not finished yet. Please click on the next page to continue reading the exciting content! We have asked non-bank institutions to bail out the market before, but the more we bailed out, the more problems there were. Now there are so many crises. If you use people’s money to fill them, tens of thousands of dollars will be spent.
If it is not filled once, or if it is filled and there is no way to return it with profit, what should we do when a bigger crisis occurs?
In the final analysis, he has discovered that the core of the problem is how to prevent the economy from truly entering the Great Depression. Then they must support some clubs to come out. What industries can carry the current economic trend? This is the key point!
Otherwise, it will just be demolishing the east wall to make up for the west wall. The more you tear down the east wall, the more you will die.
The economic problem is more serious than each of them thought. In fact, the one who is most annoyed is Miyazawa Kiichi, because someone once reminded him.
But he didn't care.
The club they chose failed before it could develop again. If it fails this time, should he step down?
After listening to Zang Xiang's words, Miyazawa Kiichi was silent for a long time, and then slowly said: "Take Kyoto as an example, agriculture and these entity clubs were severely impacted by real estate and stocks in the previous bubble era, but there were still clubs that survived.
Many of the problems that have emerged at this time are relics of that time. As long as we can eat them, they can be reborn! Everyone, it is impossible for us to abandon them and find new industries to replace them. That is unrealistic, and I can’t think of any
What can replace them? As long as they don’t have real operating problems internally...we help them this time, and things will be easy to handle later on!”
The truth is this, but...
Are there really no very bad internal problems?
Qian Yelong sighed inwardly. His father decided to let him take office. Is it a bad move to let the Qianye family follow the trend? At this time, he could not help but think of the young man who competed with all the clan elders that day.
Miyazawa Kiichi did not hesitate and decided to invest public funds into Yamaichi Securities and other clubs to rescue the market.
He is willing to bear all the pressure of public opinion and help these clubs tide over the difficulties!
When this news is released, it will inevitably cause an uproar. He needs the cooperation of various departments to prevent public opinion from fermenting.
As soon as the decision to release public funds came out, the whole of Japan exploded.
Invest national savings in these clubs?
Are the people in the government out of their minds?
The wave of public opinion that day reached its peak, but was still suppressed by people from the prime minister's cabinet.
Miyazawa Kiichi, who returned home with a tired body, saw his eldest granddaughter standing at the door and couldn't help showing a puzzled expression.
Kaoru Miyazawa held a text message in his hand, his body trembling slightly, as if he was suffering some huge impact!
"What's going on? Kaoru?" Miyazawa Kiichi walked over and asked.
"Grandpa...they ran away."
"What ran away?"
"Naganosawa Masa's family, as well as Daishowa Paper's President Saito, Mazda's... they all ran away!"