Romanian Eagle

Del looked at the telegram handed to him by the guard, which described in detail the outbreak of the crisis, which was another act of murder on Wall Street.

Nick Burke Trust, the third-largest trust company in the United States, borrowed heavily to buy shares of Union Copper in the stock market, but the move failed, triggering panic on Wall Street and rumors that Nick Burke was about to go bankrupt. Banks have withdrawn their loans, the stock market has plummeted, the people have run, and several big banks are on the verge of collapse.

Edel watched this news with a heightened sense of vigilance against capital. In later generations, the two best examples of state-controlled capital and capital-controlled countries are China and the United States. As a person with the experience of later generations, capital has no national borders, it will go with profit, as long as it can't find high profit in one country, it will look everywhere in the world

Eder can now preemptively complete the strategic layout before the Romanian capitalists have developed and grown. Let the people feel the benefits of the royal family's capital, and they will not let the people's north capital be controlled. Anyway, there are only 7.5 million people in Romania. It can be driven by the royal family's capital, and the people are grateful to the royal family. Also known as national capital in later generations, Edel actually followed the routine of the largest developing country in later generations.

In the following days, the US financial crisis continued to ferment, and New York suddenly began to widely rumors that Nick Burke, the third largest trust company in the United States, was about to go bankrupt. , the rumors quickly spread throughout New York like a virus, and terrified citizens lined up all night at the gates of various trust companies to withdraw their deposits. The bank asked the trust company to repay the loan immediately, and the trust company that was urged on both sides had to borrow money from the stock market, and the loan interest rushed to the sky-high price of 150%. By Oct. 24, stock market trading was almost at a standstill.

Morgan now appears in the form of a savior. When the chairman of the NYSE came to Morgan's office for help, he said in a shaky voice that if he couldn't raise $25 million by 3 p.m., at least 50 traders would go bankrupt and he would have no choice but to shut down the stock market. . At two o'clock in the afternoon, Morgan called an emergency bankers meeting, and in 16 minutes, the bankers had raised enough money. Morgan immediately sent people to the stock exchange to announce that the loan interest would be opened at 10%, and the stock exchange immediately cheered. Only one day later, the funds for the emergency rescue ran out, and the interest rate increased again. Eight banks and trust companies have collapsed. Morgan rushed to the Bank of Clearing in New York to request the issuance of notes as temporary currency to meet a severe cash shortage.

On Saturday, Nov. 2, Morgan began his long-planned plan to save Mooresley, which was still in turmoil. The company was mired in $25 million in debt and was on the brink of collapse. But it is the main creditor of the Tennessee Mining and Iron Company. If Mooresley is forced to go bankrupt, the New York stock market will completely collapse, and the consequences will be disastrous. Morgan invited all the biggest names in New York's financial circles to his library, the commercial bankers were placed in the east study, and the trust company bosses were placed in the west study. destiny.

Morgan knew that the iron and coal resources in Tennessee, Alabama and Georgia owned by the Tennessee Mining and Steel Corporation would greatly strengthen the monopoly of Morgan's own steel giant, U.S. Steel. Under the constraints of the anti-monopoly law, Morgan has always been unable to talk about this big piece of fat, and this crisis has created a rare merger opportunity for him. To get this piece of fat, Morgan still has one last hurdle to pass, that is, the old President Roosevelt who is unequivocal about antitrust. On the night of Sunday, November 3, Morgan sent a starry night to Washington to get the president's approval before the stock market opened the following Monday morning. The banking crisis caused a large number of companies to fail, and thousands of angry people who lost their life savings formed a huge regime crisis. The old Roosevelt had to rely on Morgan to stabilize the overall situation. At the last moment, he was forced to sign the alliance under the city.

There are only 5 minutes left until the market opens on Monday!

Morgan bought the Tennessee Mining and Iron Company for a super cheap $45 million, and the company's potential value, according to John Moody's assessment, was at least around $1 billion.

Obviously, this financial crisis is another long-planned and precisely targeted explosion.

The impact of this incident on the United States is that the United States established its own central bank and the birth of the Federal Reserve. It is a pity that the central bank of the United States is completely controlled by the bankers. This is a sign that the United States is controlled by capitalists.

The decline in production caused by this crisis is more severe than ever before. In monthly figures, steel production fell by nearly 60%, pig iron by 38%, locomotives by 69%, freight cars by 75%, and new rail volume by 46%. In 1908, new construction contracts fell by 23 percent, and more than half of the Steel Trust-owned enterprises stopped work. The number of unemployed is higher than ever before.

The crisis quickly spread to other countries. Britain, which has close economic ties with the United States, was the first to bear the brunt of the crisis. The depth of the crisis was second only to the United States. In 1907, consumption of ferrous metals fell by 20%, pig iron production by 11%, steel production by 19%, new ships tonnage by 48%, and cotton consumption by 14%. From 1906 to 1909, pig iron prices fell by 25%.

The crisis was also severe in Germany. In 1907, the consumption of ferrous metals decreased by more than 20%, the output of steel decreased by 13.1%, the tonnage of completed industrial and commercial ships decreased by one-third, the construction industry suffered the most losses, and the business volume decreased by 36%. Correspondingly, the output of cement and other building materials industries decreased. nearly half. Light industry losses are not small. Exports of cotton yarn and cloth fell by 18%, and cotton prices fell by 23%. It is worth noting that despite the shrinking consumption of ferrous metals, the price of ferrous metals has increased by 14% due to the high degree of monopoly in the industry.

In 1907, French industrial production fell by 6.5%. Among them, the silk spinning industry has the most serious crisis, and the export of silk fabrics has decreased by 24%. The crisis not only worsened the lives of workers, but also affected the lives of teachers and state officials, and trade union activities became active. In 1909, the University of Posts and Telecommunications in Paris was temporarily interrupted by telecommunications.

During this period of time, Edel watched the crisis continue to ferment, but he had absolutely nothing to do. We can only do a good job in the control of capital in Romania, and now there are no capitalists in Romania, and the royal family is the largest capital in the country. The biggest impact in this crisis is Volkswagen, which originally expected 35,000 vehicles in the European market. During this crisis, many entrepreneurs canceled orders, so that the current Volkswagen company has not dared to produce full trucks.

After Eder negotiated with the king, Romania announced the establishment of its own central bank, the National Bank of Romania. Foreign banks with financial business in Romania need to pay a 15% deposit to the central bank for their business in Romania. Domestic banks are weak and will be merged into three medium and large banks. Also pay a 15% deposit to the central bank.