Due to the huge power of the financial tsunami, it not only overturned many European and American financial giants, but even European and American physical industries began to be affected. Ordinary European and American people at the center of the vortex deeply felt the losses caused to their daily lives. The unemployment rate in Iceland and Greece was as high as 50, and stores were closed in large numbers. There were only a wide range of daily necessities in supermarkets because of the high prices. Many people had to save money and even endure hunger and cold. This was really a 20-year-old hard work, and it was back to the pre-liberation overnight!

In addition to the damage caused by the crisis to ordinary people, this financial tsunami also caused a deep rift between close allies, the United States and Europe. In addition to being deeply trapped in the subprime mortgage crisis, American financial institutions, which are regarded as financial experts, and the most reputable credit rating institutions, are both wealthy and the country that are strongly criticized by many EU in the European debt crisis.

The EU adopted "special accounting" measures to meet the EU standards for investment banks, including Goldman Sachs Bank, and Greece, Italy and other countries. This was a complete fraud. The European Parliament pursued this relentlessly and vowed to make Goldman Sachs pay the price. Goldman Sachs is likely to have to pay a high fine to settle the matter. Goldman Sachs, the boss of investment banks, is unable to protect itself. Two houses and American International Group, which are on the verge of bankruptcy, have become targets of thousands of people because they have caused heavy losses to a large number of European investors and even become the direct fuse for the collapse of many European financial institutions.

In addition, during this European debt crisis, the downgrade notices from the three major credit rating agencies in the United States were regarded as a series of death harbing signs by Europeans. Since the three major credit rating agencies in the United States have ratings for national and corporate ratings, the main basis for risk assessment in the international financial market, many financial institutions stipulate that if there is no positive assessment report issued by the three major credit rating agencies, they cannot issue loans. However, all this is based on the market's belief in the fairness, selflessness and integrity of the three major rating agencies. However, in the US subprime mortgage crisis, it was precisely because people believed that the rating agencies' ratings of Chapter 806, wealthy subprime securities, and they suffered a great loss.

Previously, Yang Xing encouraged many investors who suffered losses to challenge the authority of the three major credit rating agencies, and used the three major credit rating agencies as American companies, and were inherently biased against foreign companies, especially emerging countries and local companies, so he started a new business and created Balance Firm.

In order to restore the image of slow response, poor performance and severely hit prestige in the subprime mortgage crisis, the three major credit rating agencies changed their course and remained vigilant about any risky investment in the market. Negative reports were flying everywhere, and the main target was the sovereign debt rating of European pig countries. In turn, too low debt ratings made it very difficult for European pig countries to raise funds.

Take Greece as an example. When the Greek government announced that financial fraud and economic decline exceeded expectations, Moody's and S&P's credit rating agencies immediately lowered their AA-level debt ratings by level 7 or 8, hitting the level of junk bonds at C-level, resulting in the Greek government being unable to fill the holes in the old debt by issuing new bonds in the market, and creditors followed up with demanding full repayment of debt, resulting in a complete collapse of Greek finance.

In addition, in the crises of Iceland, Ireland and other countries, the rating reports of the three major credit rating agencies and balance firms have become super crows. Once it is pointed out that there is a problem with which country, which country will be in trouble. The EU is like a firefighter to put out fire everywhere. It is very dissatisfied with the fanning behavior of the US credit rating agencies. There has been long been news that it is about to set up its own credit rating agency.

Of course, Yang Xing's push was inevitable. He gave Paulson a face-to-face opportunity at that time. If the US subprime mortgage crisis is out of control, the worst thing is the US debt default, which will seriously damage the image of the US leader. The best strategy should be to cause trouble. In the face of the pursuit of lions, you don't need to run as fast as possible, you just need to run faster than your companions. This poor cull person cannot be too weak, otherwise it will not attract the attention of the market. When you feel a threat, a large number of international hot money will choose a relatively safe United States. To put it bluntly, it is better than who is better.

This goal is actually easy to find. Although the economic growth of emerging market countries represented by China is growing rapidly, their overall strength is still slightly inferior to that of Europe and the United States. Japan is still strong, with economic growth stagnant for 20 consecutive years, and the government bonds have reached more than twice the GDP, but most of them are purchased in Japan. As long as the Japanese do not sell themselves, they cannot make a big fuss about it.

It seems that only the market formed after the establishment of the EU has exceeded that of the United States, and the issuance of the euro also posed a great challenge to the US dollar's status as the world reserve currency. Americans have long been dissatisfied, and now they naturally have to take the opportunity to take advantage of the European debt crisis. Therefore, the European debt crisis has hit. Although the United States is full of problems, investors are still more convinced of the US dollar and US Treasury bonds than Europe's debts. Thousands of trillions of European funds flowing to the United States, greatly alleviating the impact of the US subprime mortgage crisis.

Since there are allies like this, the European debt crisis is overwhelming the Americans with no sense of help. Looking at it, only China, Russia, India and other countries, which are also BRICS countries, seem to have some extra money. The European pig countries had to put down their stance and whisper to ask for help from these countries. Compared with the few foreign exchange reserves, and are mainly engaged in domestic trade. India, which is powerless to ask for help from Europe, comes, Russia holds a large amount of oil dollar, and China's foreign exchange reserves soar. It is almost the largest foreign exchange reserve in the world, which is obviously more attractive. But Russia has a congenital disadvantage, that is, although European countries are recently, European countries are most wary of it.

Russia claims to be a double-headed eagle on the Asian and European continents, and is clearly aware of its cultural beliefs being incompatible with Russia and has a strong sense of rejection of Russia. In the hundreds of years of war history, the shadow of Russians is indispensable. The opponents are all major Western European powers such as Britain, Germany and France. From the two world wars to the Cold War, Russia was the leader of the ** country, and even brought an iron curtain within Europe.

After the collapse of the Soviet Union, although the new President Yeltsin turned to the West in an all-round way, Europe took the opportunity to severely suppress Russia, expanding from NATO eastward and the EU, pulling all the Warsaw Pact countries that once belonged to the Soviet sphere of influence, and deploying NATO troops under the noses of the Russians.

The only war in Europe after the Cold War defeated Russia's traditional ally Yugoslavia. As for the Iraq and Afghanistan war, the Americans directly bypassed Russia and fought first. At the same time, Russia's former allies Ukraine, Georgia, Uzbekistan and others were all in full swing with the support of the West. The role of European countries in fueling the fire cannot be ignored, which made Russia very dissatisfied.

After the current Russian President Putin came to power, this political strongman introduced a series of measures to power the country, which was considered by Europeans as an attempt to restore the glory of the former Soviet Union. When the Iceland crisis broke out, the then prime minister wanted to ask Russia for help, and even considered letting Russia build overseas military bases in Iceland for exchange. As a result, the EU leadership was severely criticized, proposing that if Russian aid was accepted, the EU and international monetary and economic organizations would not be able to reach Iceland. Greece and Cyprus also considered asking Russia for help. Considering that these two countries had a special geographical location and were located at the location that blocked the throat of the Russian Black Sea Fleet's entry and exit from the Mediterranean, the United States, Europe and other countries both urged them to give up their desire to ask Russia for help.

In comparison, China has been separated by thousands of mountains and rivers in Europe and has no large territorial or political disputes. In recent years, the EU has replaced the United States as China's largest export region. Although it will still be criticized by the ** forces, it is better than asking Russia for help.

More importantly, in addition to having huge foreign exchange reserves in this life, China also has a financial tsunami that can foresee the financial tsunami and is preparing for it. Now it has a working capital of hundreds of billions of dollars. Even though he just spent tens of billions of dollars to acquire Washington Mutual Bank and Canadian Nortel Communications, the remaining tens of billions of dollars still makes the representatives of European pig countries envious. For such a truly wealthy person, who else can he ask for if he doesn't want to ask him?

When Zheng Feilong, deputy director of the State Administration of Foreign Exchange Reserves, led representatives of these countries to privately meet Yang Xing, he couldn't help but envy Yang Xing's high international status. He was like an emperor receiving foreign envoys, and he would definitely ask the lion to slaughter the other party, and then he proudly invested money to buy the debts of these countries in exchange for the opportunity to break up the land and live a comfortable life in these countries' scenic spots. However, Yang Xing refused their request for help as soon as he spoke, and said a sentence that made their hearts cool.

"I am not interested in asking me to come forward to buy your treasury bonds. To be honest, there have been many people who have lobbied me to join the 'Vulture Fund' before, and then go to the court to file a complaint when your debt defaults, refuse any debt restructuring plan, and only require the full repayment of the principal and interest of the bonds. Do you think I should believe your illusory promises, choose to buy treasury bonds that are likely to default in the future, or wait for your country to go bankrupt and eat treasury bonds at a low price, and make your lawsuit in the future make you more principal and interest?"

Representatives from several countries looked at each other, and then they remembered that most of Yang Xing's reputation as a successful entrepreneur came from his cold-hearted manner in financial goals at all costs. In the Asian financial storm, he fought with many hedge funds in the world, but in a blink of an eye, he plotted against his companions Roberts and Soros, causing heavy losses to Tiger Fund and Quantum Fund.

His company took advantage of the expansion of the US Internet bubble and made a fortune. He turned around and shorted the Nasdaq index with Wall Street giants, making a lot of fun. Later, he even pulled Asian and European rich people to join forces to defeat the US stock market after the "" attack on the United States, without any guilt of putting salt on others' wounds. Do such a person still expect him to be kind and bring the mess of the European pig countries to the next step?
Chapter completed!