Gu Nianzhi really wanted to see what it was like inside the venue, but Lu Jin's footage hadn't been sent back yet, so they had no choice but to continue watching the demonstration outside.
Gu Nianzhi asked Lu Yuan worriedly, "President Lu, do these people all know that there will be a meeting here today?"
"They've already sealed off the road in advance, and they didn't specifically block the news. Someone must know." Lu Yuan leaned back on the sofa casually and sipped a cup of tea. He blew at the hot air and smiled at Gu Nianzhi. "… Are you anxious?"
"It looks like the demonstration isn't small." Gu Nianzhi couldn't tell what she was feeling.
As a young person with a strong sense of justice, she could understand the young people who were demonstrating.
Whether in history or in reality, the word 'capitalist' was not a good word.
It wasn't that she wanted to discredit the capitalists, but the capitalists had indeed not done anything good.
Their pursuit of profit determined their weakness, and it could be considered a congenital flaw.
However, the world was in their hands. A few countries had once escaped the control of the capitalists, and they had been vilified by the capitalists who controlled the global financial power.
And now, Gu Nianzhi had just learned that her father was actually the man at the top of the capitalist food chain. He was someone who truly stood at the top of the pyramid.
"… President Lu, my dad … where did he get so much money?" Gu Nianzhi asked worriedly. She was very worried that Lu Jin's money had come from improper sources.
Lu Yuan could hear her worries and comforted her with a smile. "Your father is so smart. If he wanted to earn money, it would be very easy."
"I'd like to hear more." Gu Nianzhi quickly sat up straight and listened to Lu Yuan talk about von Rolst's "history of wealth", or rather, his first bucket of gold.
"More than ten years ago, there was a global financial crisis in this world."
"That financial crisis started with the subprime mortgage crisis in the United States."
Gu Nianzhi listened attentively and quickly said, "We also had a financial crisis like this over there."
She had read about it in a book.
Lu Yuan nodded. "It seems like everything happened, but I think the reasons for it must be different."
Gu Nianzhi: "…"
Lu Yuan took out his phone and found the news about the financial crisis that year. He showed it to Gu Nianzhi. "Look, do you know Lehman Brothers, the biggest investment bank that collapsed at that time?"
Gu Nianzhi glanced at it and said, "Yes, because the US government refused to bail out Lehman Brothers, the investment bank eventually collapsed."
Lu Yuan said with emotion, "At the beginning of that year, someone suddenly warned the financial market about the seriousness of the subprime mortgage crisis. It quickly caused panic in the market, which then triggered a complete default in the financial derivatives and bond market."
"To put it simply, it's like when a bank is being squeezed. The debts that it has released have not been returned, but the depositors suddenly come to withdraw their money. The bank definitely doesn't have enough cash to take out. This is a default, and the bank will go bankrupt."
"At that time, many large, small, and medium-sized banks and investment banks in the United States were on the verge of bankruptcy overnight. Your father only used US $10,000 as the capital, and through continuous shorting and cashing out, he almost emptied the market value of Lehman Brothers. "
Gu Nianzhi listened without blinking.
The financial crisis happened before she was 12 years old. She didn't remember what happened here at all.
She could only remember the financial crisis in the other world, which was also what she saw in books and the media.
"After collapsing Lehman Brothers, your father entered the highly leveraged financial derivatives market."
"That era was the era of financial bears. It was a place where the timid would starve to death and the bold would explode."
"Your father used his genius mind to obtain astronomical wealth from the stock market in a short period of time."
Gu Nianzhi rolled her eyes and couldn't help saying, "Does the person who suddenly jumped out to warn about the subprime mortgage crisis have anything to do with my father?"
Lu Yuan smiled meaningfully. "What do you think?"
"… But how did my father know that the subprime mortgage crisis would erupt? He's not a finance major, is he? "Gu Nianzhi asked in confusion.
"Your father isn't a finance major, but he's a big name in physics. It's no longer news that Wall Street is willing to hire a top physics student to make financial models for them. "
"Of course, Wall Street can't afford to hire your father, but your father once helped someone make a credit analysis model. Later, this model was used by the three major credit rating agencies in the United States to predict the future default rate of the financial market."
Gu Nianzhi: "…"
When Lu Yuan talked about what happened back then, he was full of admiration for Lu Jin's ability.
"… Later, the subprime mortgage crisis broke out. I knew that it had something to do with Lu Jin's warning, so I asked him what was going on."
"Your father said that the credit rating model was logically flawed. When he helped someone make the model, the other party didn't say that it would be used for a credit rating system, and he didn't expect it to be fully adopted by the three major credit rating agencies. "
Gu Nianzhi immediately understood and said in surprise, "… So my father already knew that the rating system of the American credit market was based on wrong predictions!"
"Yes, since the credit rating of the entire financial market was fundamentally flawed, then the credit ratings of various bonds, financial derivatives, and stocks that were rated by this system were flawed. This flaw determined that the entire credit rating and the financial market would collapse within a certain period of time."
"Your father calculated the time when the entire market would collapse and gave a warning after all the short selling."
Gu Nianzhi recalled how her father had never left the house. He had been devising strategies in front of the computer and had relied entirely on his knowledge of mathematics and physics to make huge profits. She was speechless.
With such a heaven-defying father, no wonder Major General Huo's sense of crisis had increased …
Gu Nianzhi secretly grimaced in her heart, and a mischievous smile appeared on her lips.
Lu Yuan continued, "… The entire Western financial credit system could be said to have been destroyed by him alone."
Gu Nianzhi: "…"
She coughed lightly to show that they weren't going to take the blame. "… CEO Lu, you don't make sense."
"First of all, my father had no intention of destroying the Western financial system. You just said that he made credit rating models for people out of friendship. That means it was completely free."
Lu Yuan laughed and nodded. "Yes, this is a lesson. Free things are the most expensive."
Gu Nianzhi curled her lips. "Yes, so the other party actually took advantage of my father."
"Secondly, after he was infringed, he still disregarded the past and gave an early warning at the appropriate time. This was equivalent to saving the Western financial system and preventing them from being destroyed. Isn't that enough? This is already considered great! "
Gu Nianzhi tapped her fingers on the coffee table in front of her. "My father had already done his best. As for the small fortune he made later, it was just a reward he deserved. Don't you have to pay for using other people's credit models? "
"This might be the biggest loss in history caused by piracy …"
Lu Yuan was amused by Gu Nianzhi's sophistry. He pointed at her and said repeatedly, "That mouth of yours is really eloquent! It's really comparable to the famous lawyer Qin Suwen from back then! "
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This is today's second update: Chapter 1798, "Free things are the most expensive".
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Muah, everyone, little angels ~ ~ ~
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