Now, the US banking industry is trying their best to tide over the crisis. There are many ways, but the most important thing is money.
When the economic situation is bad, especially after many banks go bankrupt, the most common thing for people is to cash out their savings.
To them, keeping their cash at home is safer than keeping it in the bank. If these banks also collapsed, their money would really become waste paper.
Hence, centralization of cash is happening, increasing the banks' cash burden. Normal banks do not have a lot of cash reserves. Most of the time, 10% of their deposits is enough for circulation. 20% is considered a lot. When the interest rates rise, 7% is enough for the reputable banks.
But at this time, it is not enough.
Another interesting thing is the credit cards issued by the banks that did not go bankrupt are still in use.
Some people were surprised to find out that they had applied for credit cards at some banks, but before they could repay, the bank went bankrupt.
Although the accounts are still there, whoever took over the bank will take over the accounts. But there is no need to repay for the time being as the accounts have been suspended.
Some banks even went bankrupt, and their accounts became dead. They felt they got a great deal.
At this time, many people went to the big banks to apply for credit cards. Although the verification system is stricter, it is still possible.
Many people who had applied for credit cards in the past also start to spend like crazy. Some people had lost their jobs during this period, and their income is cut off. They can only use credit cards to maintain their current lifestyle.
Some people want to take advantage of the banks and wait for the banks to go bankrupt. This way, they don't have to repay for the time being.
This way, the pressure on the banks will increase. They cannot stop the credit card business. After all, many people are still using the credit cards and have the ability to repay.
The banks have a large number of layoffs, and they do not have enough manpower. The credit card companies do not have the ability to verify the details, and the gap is getting bigger.
The more chaotic the situation, the more loopholes there are. Feng Yu is happy to see this.
The credit of the banks dropping is also an opportunity. Minsheng Bank is choosing a low-profile location and is preparing to enter the US market.
At that time, with Feng Yu's name, this bank's credibility will not be low. But Feng Yu also knows there will be some restrictions. However, when there were many gaps in the US banking industry, the US would not restrict the entry of Minsheng Bank. They would only restrict the scope of business.
Bush went to Hua Xia's side to attend the opening ceremony of the Olympic Games and visit China.
His main intention was to deepen the cooperation with Hua Xia. The US was one of Hua Xia's most important export markets, and Hua Xia was also one of the most important markets for the US.
At this time, many of Hua Xia's companies were delisted from the US financial market. After some reorganization, they returned to Hong Kong or Shanghai to be re-listed. This had a huge impact on the US stock market.
If companies in other countries followed suit, the US stock market would suffer even more.
Bush wants to talk to Hua Xia's side to see if they can keep some companies from being delisted. The US financial market will definitely develop again. The US financial market is the best and most mature financial market in the world. It will not collapse completely. This will also be beneficial to the development of Hua Xia's companies.
Bush also hopes that Hua Xia can invest a large sum of money to support the US financial rescue operation. After all, Hua Xia has a lot of foreign exchange investments in the US, and Hua Xia holds a lot of USD. If the US economy is hit hard, Hua Xia will suffer a huge loss.
Countries like Japan and the European Union had invested a lot of money in the US because their economies are closely related to the US.
The US strategy of holding the world hostage can be understood as them turning themselves into a listed company with other countries as shareholders.
When the company is losing money, the major shareholders have no more money to invest. If the minor shareholders do not invest, the company will lose more money and even face the risk of bankruptcy. Although the major shareholders will suffer the most losses, the minor shareholders will also suffer a lot.
If the minor shareholders have money, the company can still turn losses into profits. The minor shareholders should quickly invest money to save the company.
Countries like the European Union and Japan are the top shareholders, and they have to invest money to save the company. If not, their previous investments will be in vain.
Hua Xia used the excuse of spending too much for the Olympic Games and only invested a little money. After that, he said he has no more money.
Anyway, the US still needs to invest money, and the European Union and Japan will not stop investing. Even if Hua Xia does not invest, she will not suffer any losses. Instead, she can take advantage of this opportunity to swallow up some of the market.
If Hua Xia wants to get rid of the US, she cannot follow their demands. If not, she will never be able to get rid of the US.
Although the US will invest less in Hua Xia in the future, Hua Xia is not worried.
Feng Yu had analyzed with the higher-ups that Hua Xia's market is occupied by businessmen. The population density is high, and the spending power is increasing fast. Who doesn't want to come here to make money?
The US will not be able to stop those companies from investing in Hua Xia. Even if they can stop them, what can they do? If the US chooses to hurt each other, the European and Asian countries will invest in Hua Xia.
In addition, Hua Xia can take this opportunity to stimulate domestic demand and develop alternative industries. The US will suffer more than Hua Xia. The US economy has been seriously affected, and they will not dare to hurt each other with Hua Xia.
Feng Yu analyzed the situation using a business approach. Of course, this is based on the large amount of data collected by his team.
Hua Xia strengthened his confidence. They realized that the US, which they had always been envious of, is just so-so. It turns out that the US's prosperity is accompanied by a huge hidden danger.
Their floor was very high, but the foundation below was already full of holes. Fortunately, they had started to withdraw their investments from the US slowly. Otherwise, they will have to pay for the US's mistakes.
Hua Xia had used the Olympic Games as an excuse. But the sponsorship fees for the Olympic Games had just been announced. Bush saw that Hua Xia had received a huge amount of sponsorship fees for the Olympic Games, and you still say you have no money?
You are not a fool to know that Hua Xia had made a lot of money by hosting the Olympic Games. Also, you have included the construction of the city's transportation into the Olympic Games. How can you calculate it like this?
Under normal circumstances, only the stadiums and the Olympic Village are counted. Without the Olympic Games, are you not going to build roads?
But Hua Xia found another excuse. Hua Xia is implementing the national social security policy, and they have spent all their money. They really have no money left.
We have not even sold your US Treasury bonds. We are already very generous!
While Bush and his team are busy, Feng Yu and his team start to work.
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