The crazy decline in the stock market shocked everyone. American citizens who received the news gathered around major banks and anxiously handled withdrawals. Of course, other places were to make up for margins. United Bank was to run many white-collar workers who saw the Fed's statement yesterday after work. They couldn't leave in the morning. Only when they saw the crowd of black people at noon gave up their fantasy and lined up. They were all knowledgeable and knew that even if United Bank really had no problem, they had to fall down in the face of such run pressure. Now they were just holding on.

The people who arrived just after the door opened were simply no match for those who lined up in advance. They arrived two or even three hours in advance to withdraw money. Although the president's reputation is well-known in the United States, the Federal Reserve is an official agency after all, and everyone still has a certain degree of blind faith in the government's words, so they came to withdraw money one after another. However, those who arrived at noon may not be able to take the turn in the afternoon. When they were upset, they suddenly remembered what United Bank said to be open for 24 hours, which everyone thought was barely acceptable.

Fortunately, although United Bank had a lot of people in the morning, everyone got money, and everyone didn't say anything. They all went back to go around and told each other. People with a lot of deposits sighed and lined up the second round. Although some people protested that this was unfair, most people's savings did not exceed $1,000 (which is usually more than a year's salary), so they could not get support.

The most people come to withdraw money are the headquarters. Many people think that since the president is in charge, it should be easier to withdraw money. So when you look upstairs, you are full of people. The hall that looked spacious and bright in the past was filled with people queuing up, and even the entire street was surrounded by such long dragons, and three circles inside and out.

The employees of Blackwater Security Company are very experienced. They have pulled up isolation belts on the periphery and used folding methods to accommodate as many people as possible, making the whole scene as orderly as possible. In fact, the fundamental reason why the scene did not lose control is not the high quality of the American people, but the people who lined up to withdraw money in front have received the money, which left a glimmer of hope and comfort to the young citizens, who prayed that bad luck would not come to their heads.

"Don't be anxious, don't be crowded. As long as you line up, you can get money..." The security guards hoarsely used iron horns to maintain order. Contini and Francisco watched the movements in the hall in the upstairs corridor. There was a vague joy. How could no one run the money to create a panic atmosphere? The Fed's magical assist gave Contini a unique opportunity. If not, short selling and detonating had to find a reason. Who knows if it would happen exactly like the historical trajectory.

"Does all outlets line up like this?"

"Yes! There are more and more people. Many people have no idea of ​​running money. They are reminded by a long team. Then paying the deposit is also a big problem. Since we suspended all other services, they can only withdraw money and use checks to pay them in brokerage offices. Many people do not trust checks, just cash..."

"Is cash enough?" Contini reminded, "Although we want to create an atmosphere, we can't make it true. We still have to let them withdraw money sooner or later when we are waiting in line."

"This is OK!"

"Very good, keep asking them to line up, and then announce it in half an hour. Don't worry, people will work 24 hours a day." Contini smiled. "It should be guaranteed for ordinary people to withdraw some money. $1,000 is enough for most people. After a large number of banks go bankrupt in the future, people will find that we are the most reliable and indestructible, which will have an immeasurable value for United Bank in the future."

"But what should I do with the agency's money? Many people called and asked for large withdrawals in advance."

"No, you must treat everyone equally, otherwise you will not be democratic..." Contini smiled. "Customers must be queued regardless of size. If they don't want to queue, I will tell these people the name to see if they can bear it?"

Francisco smiled slightly: "I understand. They can be smarter and have a few more people at one time. The bank has not limited the number of withdrawals in a day. 10 people can withdraw 10,000, and 100 people can withdraw 100,000. We have 48 outlets and 304 windows... I will definitely take it away after taking a few extra rounds."

Contini laughed: "Yes, that's what it means."

"How do we deal with the bank that borrows money?" Francisco said carefully, "The Federal Reserve still has a discount of $600 million, I'm afraid..."

"Everything is done according to the contract. It will be a few days to say that it will take several days, and you cannot regret it." Contini explained, "You can do not need to go through the withdrawal process for borrowing loans. You can pay as long as the time comes, but you must wait for the time to come, and it will not work one day in advance because there is time to short selling!"

"Governor, your phone number was from Citibank."

"Mr. Mitchell has something to do with me?" said Francesco. "I'm very busy and messy now..."

"I know you are besieged. Do you want our bank to support you? The interest rate is only 25%.

"Thank you, it's not necessary yet." Francisco cursed the bastard who took advantage of the situation in his heart, but said nothing, "We can still deal with it. How about you? I heard that the stock price fell sharply in the morning."

"Fortunately, there are a few people who have lost their positions and have cleared them all. Other dangerous customers have issued a margin recovery notice. See if they can stabilize them in the afternoon. If they can stabilize them, we will pull them first. It is understandable to wash the market, but we can't fall too much."

"Then I'll be busy first..."

After Mitchell put down the phone, someone next to him asked him: "How is the United Bank? Can they stabilize?"

"It's certainly OK, it's only half a day." Mitchell shrugged, "Even if these tens of millions can't be stable, United Bank is too weak. What I'm paying attention to now is their stock price, which fell by up to 30% in the morning?"

"Yes, 29.7%, which is only one step away from the conversion of the stock price. However, buying here is relatively strong and it is difficult to fall below the price for the time being. If it falls below, there may be a wave of panic trading."

Mitchell nodded: "The boss really wants to acquire shares of United Bank?"

"It is probably impossible to hold the stock... He wants to negotiate a deal with Ziano. I heard that in addition to Bailangduoxi, Ziano has a lot of good things in his hands. The boss is very interested. At least the motorcycle and Bailangduoxi must be made."

"Then I understand. I will wait a few days before checking the direction of the wind. It is a good time to make the conditions when they can't stand it and ask for help. For example, now I say support them, and the other party refuses."

The person on the other side laughed: "That's because your interest rate is too high, 25%, you can say it out loud."

"After walking, follow the market."

The morning's battle report came out soon, and the withdrawal of nearly $3 million was more than half the estimated figure.

"What's going on?" Francisco asked with a frown, "this is much faster than expected."

Delveyio, the president of the US branch, replied embarrassedly: "Because there are too many people in line, the teller's movements have become very fast and the efficiency is higher than usual..."

Contini was carefully watching the data from the stock market telex and Xiaoxiao: "It's okay, as fast as possible, all the shares of 300 million yuan have been reduced... We have money to deal with the runs, of course, this fund will take t+3 working days to arrive. You can plan to return some matured loan funds."

"Okay, there are indeed two funds with a total of 50 million yuan in three days. The two bank presidents have called me repeatedly and I will reply to them now."

When the stock market opened in the afternoon, the 400 points that I thought could be stable were broken in less than 15 minutes. The huge selling price continued to push the stock price downwards were actually a late effect, because many delayed data were known to be all transmitted before the opening in the afternoon. Those investors who saw a big drop during lunch break joined the ranks of selling. Although they were small investors who realized it later, too many ants were enough to bite the elephant to death.

Contini smiled at Livermore: "You are still optimistic... You didn't hold on to 400 points at all. I suspect you can't hold on to 390 points today."

Livermore sighed: "400 points were broken through, 390 points can't be held, and 384 points may still have a glimmer of hope. This is the lowest point in the entire August. If it breaks through again, I don't know when the end will be the next one."

When saying this, the stock market is falling rapidly at a speed visible to the naked eye, and there are four-fold effects superimposed here:

The first is of course the domino effect caused by the more than 300 million shares sold by United Bank;

The second is that Contini's statement on the summit forum made many investors alert, and the last flash drop of the previous trading day and the sharp drop in the morning made them issue a sell order in the afternoon;

Third, the risk news of United Bank spread as the Fed's statement was issued, and the queues at various outlets of United Bank also affected the shareholders' judgments, and the stock prices of United Bank, including United Bank, fell sharply;

Fourth, the huge closing of positions occurred due to the rapid decline of the stock market, mainly because of the investors who took over the market in recent times. Many people bought shares with inflated stock prices, and even had a lot of courage to leverage of 7 times, 8 times or even 10 times. The decline of these stocks is more than 15%. No matter how 10 times, 8 times or 6 times, it is impossible to withstand it. Traders are desperately trying to close and even need to pay margin.

The busiest places in the morning were all major brokerages.

Aquilani happily watched the stock price fall into the abyss in front of the telex. Today he was responsible for passing the telex message to Contini. He knew the inside story: Although the president did not establish enough short positions due to the sudden interference of the Federal Reserve, he originally hoped to reach 4 billion, but in fact, it was less than 3.3 billion, the president chose the opportunity so well, and it was simply seamless.

Livermore also understood that although he did not attend the senior meeting last night, he could see through the ideas about him at a glance, and he is an expert in the field of American speculation!

As for those traders who execute instructions mechanically, they all laughed from ear to ear. What kind of business can make at least tens of thousands of dollars a day after earning a bonus of money faster than this?

Cool!
Chapter completed!