Mediterranean Hegemony Road - v5 Chapter 156

“My Majesty, the London stock market disaster broke out!” Kennedy said gleefully.

He is fortunate to have the money to gloat, even if the stock markets around the world have jumped, it has nothing to do with Bulgaria.

“Talk about the details!” Ferdinand said with a smile

In spite of these things, he has known for a long time, but many words are not suitable for him to speak, otherwise how can the role of these ministers be reflected?

A king who seizes the opportunity with his courtiers is destined not to be a successful king!

“On August 18, the London government announced a factory relocation order, ordering more than 100 factories to stop production within three months and relocate within six months.

On August 21, the London stock market opened and the stock prices of these companies began to plummet.

On August 22, London’s stock market continued to fall, and a small rebound occurred midway through, but was soon overwhelmed by more selling orders.

Judging from the current situation, London’s stock market will continue to fall, and the two major financial markets of Paris and Vienna will soon be involved. This time, countries in continental Europe should not want to be alone! “Kennedy’s gloating analysis

Everyone is happy, and looking at others is unlucky, they can always find a sense of accomplishment, especially competitors!

The greater the impact of the stock market disaster, the better it is for Bulgaria. At this time, they are not bad, and they are all good. How can they be worried?

“What about the Americas? Especially in the three North American countries, what impact will their economies and the British Isles have when they are linked together?” Ferdinand asked with concern.

“The stock market in North America suffered a slight drop yesterday due to the London stock market disaster, but it finally stabilized at the close.

But as long as London’s stock market continues to fall, global financial markets will be affected and they will not be able to survive alone! Kennedy said after thinking about it

“Ready to start Plan A, add a fire to this stock disaster!” Ferdinand said lightly

…

While Bulgaria was preparing to go down, fierce quarrels were taking place within the UK over whether to save the city.

Although Prime Minister McDonald’s cost a lot and successfully persuaded George V to support his rescue plan, the government and one or two consortia will not be able to save the market unless the consortium is willing to explode!

Obviously, this is impossible. Even if the royal consortium agrees to save the market, it will not be possible to make every effort, and it is impossible for the major shareholders behind the scenes to die for the benefit of the British government.

Unless most British consortiums can be persuaded to join forces, even if they are not participating, they will not be allowed to go short, otherwise there will be no way to talk about saving the market.

“My Excellency, the consortium’s appetite is too great, we are afraid we can’t satisfy it!” Said Finance Minister Pete, frowning.

“What do they want?” McDonald asked in confusion.

“The consortium hopes that we will sign a Law on the Protection of Special Industries, which includes industries such as banking, oil, power, and minerals.

If this bill is passed, the future British Empire will be the home base of the Trust Group, and no one or party can shake their status! Pete said with a grin.

McDonald took a sigh of relief. He didn’t need to look at the specific content to know that this was a bill that the major consortiums just tinkered with in order to monopolize in their respective fields.

Once they have signed such a bill, they are waiting to stink for ten thousand years!

Of course, it is not so pessimistic. If they continue to cooperate with the consortium, he can also become one of the greatest prime ministers in British history.

To be whitewashed, the British consortium still has this ability.

Although the British government is much stronger and can suppress the consortium most of the time, it has not prevented them from growing.

“What would happen if we refuse?” McDonald asked with concern.

“The consequences are very serious. Now the London media is already attacking us for not understanding the economy. Once the situation continues to worsen, we may be ousted by angry people!” Pete thought for a moment and said

“So, we have no choice now, right?” McDonald frowned.

“Yes, Your Excellency the Prime Minister! The current situation, if the stock market cannot be saved, then the financial crisis is imminent, and there are already runs on the streets of London.

If we don’t take action anymore, we will be in trouble! Finance Minister Pete answered with a bitter smile

“Well then, if Congress can pass it, I’ll sign it. We don’t need us to come forward with the proposal, right?” McDonald said helplessly.

“Of course not. With their influence, there is no problem at all to pass a bill in Congress!” Peter shrugged.

To pass a bill in the UK, in addition to passing it in Parliament, the Prime Minister needs to sign it. Of course, the King can also sign it.

In the choice of persimmon to find a soft pinch, everyone did not hesitate to choose McDonald. Anyway, his prime minister has a limited term and has survived the immediate crisis. There are still a few years, but the crisis will soon Step down.

Without the ability to retaliate, they dare not retaliate against the consortium. Although McDonald is the leader of the Labour Party, everyone knows that the Labour Party has long been infiltrated by the capitalists.

In the capitalist world, political parties are actually a vassal of capitalists, including members of parliament, and they are all sponsored by capitalists.

Without the support of capitalists, where does the campaign funding come from? Without money, there will be no advertising. It is estimated that many voters do not know that you are there. Who will vote for you?

On August 24, 1929, the British Parliament passed the Special Industry Protection Law at a lightning speed. Since then, these monopoly enterprises can enjoy more preferential taxation and get more privileges.

On August 25, the British government teamed up with five major consortia to announce a 200 million pound investment to rescue the market. The London stock market rebounded, and the closing price rose 0.5% on the day.

The dawn dawned, and when everyone was celebrating, a sunny day came again.

Already talked about, the nine countries share the debt left over from the Russian Empire, and now it is overdue again!

Since the official division of the Russian Empire in 1927, the nine governments have never paid a single dollar.

Now the West Russian government has announced that 36% of the debt should be paid this year. The remaining debt has no way. They are really unable to afford it now.

The East Russian government announced that it would pay one third of its debt, and the rest would be overdue.

The remaining Finland, Belarus, and the Baltic Sea also announced that they would pay between 15% and 40% of their debts, and the rest had no money to pay.

Due to internal contradictions, the Polish government has not yet given results, but it seems that they are not rich owners and cannot be expected.

The Soviet and Russian government was even harder, and declared financial bankruptcy directly, so there is not a big son, and it is now relying on accounts.

As early as 1918, the Soviet-Russian government no longer had the concept of currency and replaced it with various bills that circulated on the market.

Later, they also issued new rubles. Unfortunately, in the Soviet Union, you can’t buy things without bills. How can this thing be recognized in the international market?

In July this year, the Soviet Russian government made a request to the League of Nations, and they wanted to use the new ruble to repay the debt, but naturally it was not approved.

Now, apart from paying off their debts with gold, it seems that they can only export some minerals to Japan, which is limited by transportation and the export of resources is also a waste of money.

Poor foreign exchange reserves and a small amount of gold, they are not enough to buy industrial equipment, how can it be used to pay off debts?

On August 28, the London stock market began to plunge as soon as the market opened. At this time, 200 million pounds of rescue funds had been smashed in half.

Not only London, the stock markets in Europe and the United States have started to fall, and it is no longer possible to solve the problem by rescuing the market.

Waves have not settled and waves have risen again.

After the debt default of the nine nations, the new Greek Kingdom, which had little sense of existence, followed closely, and declared financial bankruptcy on the morning of August 29.

This is the Nth bankruptcy of the Greek government, and it is the third time in the life of George I.

Although the Greek government’s debt is not much, at this time, the financial market is already very fragile, and any turbulence may cause a turmoil.

This time was no exception. The European banks that took on Greek loans were run and then spread to other banks. The financial crisis was imminent.

On September 1, an inconspicuous piece of news was published in the London tabloid, which once again set off the stock market.

The content is very ordinary, without any appalling title, with the theme of “Burning Rubber Plantation”, the article slams the rebels for maliciously destroying the rubber plantations.

There are pictures and the truth, this very common news, it quickly fermented, and then the rubber stocks collapsed across the board, becoming the first industry to collapse in the stock disaster.

Under the chain reaction, it also quickly spread to downstream industries, and automobile manufacturing and plastic processing enterprises were affected one after another.

One industry is implicated in another industry. As long as it is able to get involved, none of them can run away. Under the chain reaction, all industries have been affected.

As of the end of September, the London stock market fell from 1285 at its peak to 156, but this was far from the lowest point.

It seems that the London stock market is now only unexpected, not impossible, and all industries are falling all the way.

At this time, the stock market has spread to the banking industry. Within a month, more than 80 banks in London went bankrupt and the run-out crisis broke out across the board.

The banking industry is busy taking care of itself, the real industry is mourning everywhere, the capital chain is broken, factories are forced to close, and the streets are full of unemployed people.

This is the worst economic crisis in the history of Britain. The number of unemployed people in London is more than 3 million, and the unemployment rate is 58%.

Robbery, homicide, rape, and various crimes were staged in the streets of the city. The McDonald government was forced to mobilize troops to enter the city to maintain law and order.

Obviously, this economic crisis has affected more than just London. The British Isles have been covered by the dark clouds of the economic crisis.

Over time, it is spreading to all parts of the world. The first three affected are North America.

Because it was the closest to the British economy and was the first to be affected, the scene in London also took place in three countries in North America.

The outbreak of the stock market crash followed by a run of bank runs, and then the prelude to bankruptcy began.

Because of overcapacity, the products produced by the company cannot be found in the market, and can only be disposed of as garbage.

If there is no way, a strong company will begin to lay off employees and reduce production. A weak company will only declare bankruptcy.

Because of corporate layoffs and bankruptcy, a large number of unemployed people appear, fewer and fewer people have purchasing power, and the market is shrinking.

The daily shrinkage has once again fed back to the company ~ www.mtlnovel.com ~ continue to lay off employees, reduce production or close the business, and the number of unemployed continues to increase.

The beginning of the vicious circle has further exacerbated the spread of the economic crisis, and no one in the capitalist world wants to be alone.

The British economy fell, followed by France, separated by a strait, and the French economy and the British economy have long been linked.

Less than a week after the crash of the London stock market, the stock market of Paris followed suit. The wave of bankruptcy and unemployment has brought the booming French economy back to its original shape.

As usual, the French government will start to change cabinets at this time. In fact, the French people have already begun to act and are now hitting the incompetent government.

Far away from Vienna, the financial center of Eastern Europe, it was not able to stand alone. At this time, it followed in the footsteps of Paris and the stock market crashed across the board.

Give this multi-ethnic country, which is undergoing ethnic integration, a head start. The harsh economic situation has once again stimulated the suppressed domestic contradictions.

…