John Pierpont Morgan Jr., the head of the Morgan Group at this time, was also the absolute leader of the U.S. banking and financial industry. No one can tell how much wealth the Morgan family had. Many people in later generations are talking about Rothschild.
The De family is said to be magical, as if the whole world is under their control, mainly because of the currency war, which sold extremely well. In fact, in the real world, although this family is indeed a financial giant,
But it has not yet reached the point of unifying the world. The glorious age of this family was actually before World War I. Since the family's main wealth was in Europe, the war destroyed everything, causing the family's strength to decline rapidly. 23us.
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In the world's financial world after World War I, the real No. 1 brother was Morgan, and not just in the financial industry. In the real industry, Morgan was also the No. 1 brother. When Morgan was at its peak, he even controlled three-fifths of the steel in the United States.
production, and also created the world's first industrial company with assets exceeding one billion US dollars.
At this time, Morgan was drinking coffee in his office, looking at the ant-like crowds under the skyscrapers. He enjoyed this view extremely. He looked at the time, and he had already started trading, feeling countless money coming in and out.
It feels like he is a little obsessed.
The boss's door was suddenly knocked. The anxiety and impatience contained in the knock made him extremely unhappy. He glared at his door angrily and said, "What happened? The sky will not fall."
It was his bank manager who opened the door. After the manager came in, he immediately said to Mr. Morgan, something happened. I don’t know whose handiwork it was. Now a large amount of Japanese yen is being sold, and the central parity rate of Japanese yen against the US dollar has fallen by almost ten percent.
That’s it.
Morgan said indifferently that it was only ten basis points. What kind of drop is this? Japan and we have some conflicts. Maybe some small company saw some interests in it. It's nothing. How could you do such a small thing?
Impatient and impatient, I see that the more you live, the more you go back.
The manager quickly said no, it’s not that the base point has dropped by ten points, but that the percentage has dropped by ten points. Before trading started in the morning, the exchange rate of Japanese yen to US dollars was 437 yen, which was about 100 US dollars. Now it has exceeded 470 yen, and it is still
rapid decline
Why did Morgan suddenly jump up? This is the currency exchange rate, not something else. How can there be such a decline? He also understands that there is a big problem here. How is the currency exchange rate formed? Different periods have different
According to the international monetary system, there is generally a distinction between fixed exchange rates and floating exchange rates. The fixed exchange rate, as the name suggests, means that the exchange rate fluctuates around a relatively fixed upper and lower limit of parity. When the exchange rate rises or falls to the upper or lower limit, the central government
Banks must take measures to keep the exchange rate unchanged. During the gold standard period, the exchange rates of most countries in the world were floating based on fixed exchange rates. However, with the collapse of the gold standard and the beginning of World War I, many countries could not afford so much.
When gold comes out, the fixed exchange rate can only be abandoned and changed to a floating exchange rate.
A floating exchange rate means that the exchange rate between one country's currency and another country's currency has no upper and lower limits on fluctuations, and is determined by the supply and demand relationship in the foreign exchange market. This method is much less stressful for the country and does not require so much hard currency.
In preparation, in history, when the Bretton Woods system led by the United States collapsed, most countries adopted this system.
Nowadays, due to serious inability to make ends meet in trade, Japan has also abandoned its fixed exchange rate and adopted a floating exchange rate. This has also caused the Japanese yen's exchange rate to fall a lot in just a few years, but it has only dropped by about 40%.
And it took five or six years, but now, in less than an hour, it has dropped by 10. Everyone knows what this means.
Morgan immediately picked up the phone and called. After a while, the call was connected. Morgan smiled and said, oh, it's me, Morgan. Rockefeller, are you in good health? We can taste it together when we have time. I'm
I would like to ask if the Japanese yen incident today was something you did. You are also investigating this matter...Okay, if you have any news, let me know.
After Morgan put down the phone, the phone rang. Morgan frowned, picked up the phone and said, hello, yes, I'm Morgan, oh, it's DuPont, yes, it's not me. I'm also checking who is doing this.
I don’t know which of our old guys is responsible for this. He went too far and didn’t even say hello to us, making us very passive. My opinion... We are a bank. If someone wants to change currency, can we not give it to them?
Besides, shouldn't the monkeys be the most anxious now?
With that said, Morgan put down the phone, frowned and stood up. He walked to the window, looked at the crowd outside and said to find out immediately who is doing the hedging. In addition, ask about the actions of Japan. There are such big actions here.
It won't end like this.
It is indeed not over. Countless people appeared from nowhere across the United States. These people were holding stacks of Japanese yen and rushing to banks like crazy to exchange them for US dollars or pounds. They looked like waste paper.
The staff of all the banks were shocked by the moving Japanese yen, and the police immediately began to maintain order. Many banks immediately verified the Japanese yen, and were surprised to find that these Japanese yen were actually genuine. See
As the exchange rate between the U.S. dollar and the Japanese yen continues to change, everyone knows that the faster you exchange it for U.S. dollars, the more you will earn. God knows how far the exchange rate will fall.
Morgan walked outside the building with a gloomy face and saw this crazy scene. He laughed angrily and said, please contact the Bank of Japan quickly and ask these bastards whether they will accept the offer. If they don't accept the offer, we, Morgan, will reject it.
Japanese yen exchanged for US dollars
This is no joke. If the major banks in the United States refuse to recognize the yen, then the yen will really become useless paper overnight. After all, the United States really uses the U.S. dollar. Morgan is also a little worried, for fear
The Japanese government is behind this. After all, no matter how you look at it, such a big scene is not something that a small financial institution can handle.
Morgan pushed away the countless hands waving yen and walked back upstairs.
At this time, Tokyo had just fallen asleep. Tojo Hideki received the call when he was getting ready to go to bed. He answered the phone and listened for a while. He was suddenly frightened by the words on the phone and broke into a cold sweat. He hurriedly changed his clothes and came to the palace.
middle.
In the conference room, people kept coming in and out, and a huge sign was hung on the wall. It was an exchange rate, which was constantly being refreshed.
510, 511, 510, 511, 512, such fast-moving numbers made everyone gasp for breath. Normally, the exchange rate can change by a few cents, which is amazing, but now it is jumping one by one.
It is now 10:27 New York time. Everyone, what is on the wall is the real-time exchange rate of the Japanese yen and the US dollar on Wall Street in the United States. Do you have anything to say? Hirohito's face is extremely ugly, and he is a little gray.
The Minister of Finance Kagoya Konobu immediately said that this is a war, this is a financial war. The foreign exchange obtained by the people of the country through frugality was wiped out overnight. Now we must act. We cannot let the yen fall like this anymore. The empire’s foreign exchange has not
Not much. With this intensity of attack, the empire's foreign exchange may be completely consumed by two o'clock in the afternoon New York time. This is even when we are retreating steadily.
Tojo Hideki was the first to get angry and asked what was going on. Although I don’t know much about economics, I also know that the prerequisite for doing this is that the other party has a large amount of Japanese yen. This is how the other party did it.
Kagoya Konobu said that we have asked major banks in various countries and there has indeed been lending of Japanese yen recently, but the volume is definitely not to the current level. What is even more strange is that a large number of Japanese yen banknotes have appeared in the United States.
People from the embassy rushed out to get some to verify the authenticity and found... that they were all genuine or that they were counterfeit and were the same as our genuine coins.
Everyone gasped. If there are really powerful people who forge holiday yen that are the same as real yen, then the Japanese yen can basically be sentenced to death. If they have a choice, they would rather these are real currencies.
Choose, gentlemen, whether to hold on and fight to the end, or to give up the fight and keep our current foreign exchange reserves. Konobu Kagoya stood up and lowered his head and said.
Everyone stared quietly ahead. Even Tojo Hideki did not dare to say anything easily. The economy determines everything, and the risks here are too great.
Hirohito looked at Tojo Hideki and asked if the Prime Minister had any opinions.
Tojo trembled, and he said bitterly, Your Majesty, no matter who the other party is, it is certain that the other party has the greatest malice towards the empire, and his purpose must be to completely turn the empire's currency into waste paper.
, If this is the case, I think we must not let the other party succeed. Even if we lose, we will lose until the last moment. And, we may not necessarily lose.
Saying that, Tojo Hideki looked at Kagoya Konobu and asked if there was anything else he could do.
Kagoya Konobu thought for a while and said that the foreign exchange war is a real battle to see who has more money and currency. The only solution now is to get enough foreign exchange and fight to see who can come to the end.
Then keep fighting, Tojo Hideki shouted: Most of our foreign exchange is used in transactions with the United States, and now that the United States is suppressing us more and more, I don’t think we need too much, and I doubt it.
This matter is caused by the United States
Hirohito looked at Tojo Hideki and nodded slowly.
United States Washington
The crazy war against the yen is still going on. Now everyone knows that the yen is being crazily blocked by a force. There are long lines in banks everywhere, and they are all people who want to exchange the yen for US dollars.
Some are voluntary and some are employed.
Roosevelt watched all this in the car, shook his head and said, "I seem to have returned to 1929. Haven't you found out who is behind everything?"
Hull, who was next to him, said that Hoover and others were already investigating, but the people behind the scenes were well prepared and very well hidden. The people caught now all used the money to do things, and they themselves didn't know what they were doing.
Whoever is working gets the orders over the phone. In addition, we don’t have any evidence that the other party has violated the law, so there is no way to arrest people arbitrarily.
Roosevelt smiled and said, no matter who it is, I think Japan's economy will go back ten years. Do you think the Japanese government still dares to go to war without money?
Hull smiled and said that modern war is fought with money. Without money, you can't even eat, let alone fighting a war.
Roosevelt chuckled and lowered the curtains in the car, waving his hand to signal for the car to drive.
wall street
589590 has exceeded 590. Wow, it’s really crazy. Countless people on Wall Street who are watching the excitement and not taking it too seriously are shouting crazily. I don’t know how many traders have also joined the crowd of people stamping on the yen. Capital is bloody.
And it's dirty. They don't care if this continues to destroy a country. They only care that if this continues, they will make a fortune.
Of course, some people get rich, and some people jump off buildings. In just one morning, more than a dozen financial elites have jumped off the roof. They are all people who bought a large amount of yen in their hands. Faced with the current situation
, there is only one way to die.
At 12 noon, the Japanese yen reached 593. At this time, someone discovered that the stock began to rise.
Stocks stocks have gone up
Futures Futures also rose
Wall Street seemed to be celebrating a festival. In addition to the rapid decline of the Japanese yen, gold futures and stocks had risen rapidly since the afternoon. Wall Street was completely boiling. What they didn't know was that at this time, financial groups such as Morgan Rockefeller also began to enter the market.
Hot money needs a place to invest. The crazy fall of the Japanese yen will inevitably cause some investment channels to rise, just like the fall of the US dollar, the rise of gold, the fall of the stock market, and the rise of house prices.
April 6, 1942, was an extremely important day in the financial history of later generations. It was called the Disaster Day and the Day of Reckoning by Japan, and was called the Carnival by others. In any case, when the yen fell below 600, no one
People were optimistic about the Japanese yen again, and at this time, it was finally dawning in Tokyo.
The streets of Tokyo today are different from those in the past. I don’t know who lost a bag of money last night and threw it outside the doors of various hospitals. The bags were like bricks. Each family had 10,000 days.
Yuan, this is a lot of money. Many people saw this bag of money when they woke up in the morning. Some hid it immediately. Some people laughed crazily, thinking it was a gift from the gods. Many people took the money and prepared to go.
The police handed it over, and some people were going to the bank to deposit it first.
But when they went out, they found that the streets were full of people holding bags of money. Just when they felt strange, a piece of news spread like a tornado.