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The logic of borrowing in the financial market is that the greater the risk, the higher the interest rate; the lower the risk, the lower the interest rate.

Now, the whole world knows that there is something wrong with Greek bonds, and everyone is selling short like crazy. While bond prices are depreciating rapidly, the interest promised by Greece is also gradually increasing. In this extremely critical period, the interest rate on government bonds has reached 18%.

Many analysts have also estimated that if the potential crisis in Greece's sovereign debt is not dealt with as soon as possible, the annual interest rate on Greece's bonds is likely to reach 30%.

In mainstream countries in the Eurozone, interest rates on government bonds are generally between 1% and 3%.

What is the concept of 30%?

In the past year, Pluto Capital, managed by Zhou Buqi, has brought generous returns to shareholders, with annual returns barely exceeding 30%.

In other words, if anyone is brave and dares to risk his life and buys the newly released government bonds of Greece at this time, the annual return rate will be almost the same as investing in Pluto Capital.

However, at this juncture, buying Greek government bonds requires great courage.

Now the investment ratio of Greek government bonds has been shorted to 1 euro to 8 euro cents. Even if it is not a junk bond, it is almost there. Credit default is possible at any time.

Greece was a member of the Eurozone under false pretenses, but it was ruthlessly kicked out. This is both legal and reasonable, and there is nothing wrong with it from a moral perspective. Many people in the EU have also publicly declared that Greece should be abandoned.

This is very important.

Because the EU has already reached an agreement with the International Monetary Fund and will conduct negotiations at the beginning of next month to study whether to help Greece. And this requires a prerequisite. This is not a proposal by the minority to obey the majority. It requires the collective consent of all members. As long as one country is unwilling, Greece will be finished.

So now Greece wants to issue new government bonds, but it can't do so at all. Even if there are buyers, the country's banks and financial institutions will take over.

Zhen Yu can't see through what's going on here, it's really too complicated.

There are too many games involved.

From the EU's perspective, they definitely hope that Greece can hold on and not collapse. But from the perspective of big capital and big institutions, of course the worse Greece is in trouble, the higher the probability that they will make big money from the chaos.

In other words, politicians want to maintain economic stability, while capitalists want to enrich the country.

Who wins and who loses?

Judging from the subprime mortgage crisis, politicians are no match for capitalists. The scandals of investment banks such as Goldman Sachs, Citigroup, and Morgan Stanley are so bad that there is nothing they can do.

If it doesn’t work in the United States, then it will work in Europe?

According to Zhen Yu's own understanding, capitalists are still more powerful in a capital society. Soros brought down half of Europe with one man in charge.

The current momentum of the European debt crisis is much more severe than Soros's back then.

In the game of the Greek crisis, it is likely that it will still be a carnival feast for capital. The development achievements of Greece in the decades after World War II are likely to be plundered by the hungry wolves of capital in a short period of time.

However, Senior Sister Zhen Yu still believes more in Boss Zhou's judgment.

Europe is becoming more and more left-wing, which is really different from the capital carnival in the United States. Then she entered the market and started buying Greek sovereign bonds.

It is not cost-effective not to buy newly released government bonds with an interest rate of nearly 20%. Although the newly released government bonds have high interest rates, the purchase cost is also high. A face value of 1 euro must be purchased with a principal of 1 euro. It is much cheaper to buy government bonds that were sold before. For example, a batch of 10-year government bonds with an interest rate of 2.8% sold in 2007 only required a principal of 8 euro cents for the face value of 1 euro.

Zhen Yu entered the market and spent US$200 million to buy a batch of 10-year and 15-year treasury bonds that were promised to be paid in 2017. However, the real bond value was as high as US$2.5 billion.

In other words, if you hold this government bond and do not sell it, and Greece does not have a credit default, by 2017, even if interest is not included, this US$200 million investment can still earn US$2.5 billion!

Zhou Buqi was somewhat surprised when he heard what Senior Sister Zhen Yu said on the phone, "How much? 2.5 billion US dollars?"

"This does not include interest. After including interest, the net profit after tax is US$25."

"Sister, I'm very worried!"

"Yes, I am also worried. The power of short selling is too strong. Yesterday, some German institution entered the market and managed to get it above 10 euro cents. Today it fell back to 7 euro cents. There is also pressure from public opinion. They Maybe they will abandon Greece."

"What did you say?" Zhou Buqi didn't know whether to laugh or cry, "I'm talking about making too much money, it's too eye-catching."

Zhen Yu was very doubtful, "Will the EU save Greece?"

Zhou Buqi said: "I'm not sure, but the conspiracy atmosphere is very serious. The biggest short-selling forces are American hedge funds. Maybe this is a competition between the European Union and Wall Street. There are banks in Germany. The market has endorsed Greece, isn’t this a signal?”

Zhen Yu said: "Headache."

Zhou Buqi smiled and said, "What's the trouble? For this matter, the European Central Bank is much more reliable than the Federal Reserve."

Zhen Yu asked: "What should we do now? After buying it, should we wait? Wait for the bond to mature?"

"It's alright, you decide." Zhou Buqi reiterated, "Anyway, I said, our business this time is not to make money. The main thing is to provide you with an opportunity to show your skills, just like playing a game, how fun it is. ? If possible, we should still cooperate with the EU authorities and use the stability of the financial market to obtain some preferential policies."

It’s only 2010, and it’s still early for the bonds to mature in 2017.

Few financial institutions can hold on for that long.

The current Greek crisis is just the beginning, the first stage.

By 2012, there was another wave of even greater crises. Fortunately, the EU came to help again and granted another 130 billion euros in bailout loans, allowing Greece to hold on. At that time, Greece’s sovereign debt investment ratio was 1 euro to 7 euro cents. After the European Central Bank firmly stated that it would help, the bond market soared, with an increase of 763%, once exceeding 50 euro cents.

Later, in 2015, Greece held a new round of elections. Radical nationalist forces came to power and broke up with the EU, saying that their loan conditions were too harsh and the Greek people were suffering too much! I don’t want to play anymore!

National debt?

Damn it, I won’t pay it back!

It is conceivable that the Greek crisis is coming again, and the national debt has become a junk bond again.

The credibility of their sovereignty has been lost, and the entire country has completely collapsed. They don't farm, can't buy food, and can't even eat. Their life is comparable to that of the Soviet period. After persisting for less than a month, the Greek authorities could no longer stand it. They turned around and knelt down to Germany and admitted their mistakes.

Merkel, the female Prime Minister of Germany, was very powerful, so she agreed to continue to help, but the conditions she proposed were even more stringent, and Greece had no choice but to agree. After a series of changes, Greece finally found the right direction, worked hard, reduced benefits, reduced expenses, and worked hard to repay its loans. The country is finally back on track.

In other words, by choosing good trading opportunities in batches, you can maximize your profits even if you don't short-sell.

Buy Greek government bonds now and sell them after the EU provides the first wave of bailout loans. Then the price of government bonds was suppressed again, and then they were bought back at the bottom, and then sold after the EU gave a second wave of bailout loans; and then they were bought again in 2015 when Greek credit bankruptcy government bonds became junk again, and then they could Waiting to be paid.

After this wave of operations, the investment and cost of US$200 million will become at least US$20 billion by 2017.

Zhou Buqi doesn't know much about the detailed process of the European debt crisis. Even if he knew everything, he wouldn't know how to do it.

This kind of financial market operation can indeed make a lot of money, but it is really boring.

Just like Musk looks down on Buffett, this kind of capitalist who speculates without producing really has no high social value.

In contrast, doing serious business provides a greater sense of accomplishment. Industrial success, especially success in changing the world, is far more exciting than monetary numerical growth.

This time, he wants to take football further.

The highest goal is to find a direction for the development of Chinese football.

Guaranteed goals, leading the tactical style of European football in the new era.

Zhou Buqi stayed in Germany for two days and met Hoffenheim's boss Hope, but was not in a hurry to meet head coach Rangnick. If Mr. Hope can be dealt with, this matter will be more than half solved.

If Hope can't be dealt with, this matter will be more troublesome.

Because Rangnick is a German, he is the theoretical godfather of the fast pressing and pressing system of German football.

This kind of football is very entertaining to watch.

Italy's defensive counterattack is too wretched; England's long pass and lob are even more aesthetically pleasing; Spain's passing and control system can slowly make people fall asleep.

Rangnick's football philosophy is more in line with the global football promotion concept and can make football matches as exciting as rock music.

To achieve this goal, it is best to have a top German club participate in the practice and become an important part of this ecosystem.

Mr. Hope hesitated.

Because once he joins the football system created by Zhou Buqi, he lacks dominance in the club's decision-making power.

Zhou Buqi was not in a hurry and invited him to Old Trafford to watch the second leg of Manchester United's match against Bayern in midweek. Then I went to Wolfsburg to attend the signing ceremony of the strategic cooperation between Ziweiyun and SAP.

The scene was quite lively.

After it was over, Kurian smiled and said: "I just received good news."

"What is it?"

"Netflix will cooperate with Ziweiyun to promote the expansion of overseas markets, starting with the United Kingdom."

Zhou Buqi nodded, "English-speaking countries are more convenient for development. In the European market, the biggest difficulty is the European continent, where there are too many countries and the environment is too complex."

Kurian is very experienced, but that’s not what he said, “There are a lot of Blu-ray high-definition videos on Netflix, which is very troublesome.”

"Um?"

Zhou Buqi raised his eyebrows.

Kurian said: "There is no problem in the core areas of big cities such as London and Manchester, but the broadband infrastructure in many suburbs and small towns is not good enough and will bear a high load due to the surge in remote work."

The transmission of network information is like a river. The river infrastructure in suburbs or small towns is average and the rivers are narrow. If a business such as streaming video and massive information transmission is launched, the rivers may be blocked and other users will not be able to access the Internet.

"What do you mean?"

Zhou Buqi glanced at him.

Kurian said: "Maybe we can try to develop our own operator business. Ziweiyun's market development cannot be separated from the improvement and expansion of infrastructure. This is especially true for streaming media."

This is complicated. Zhou Buqi had a black line on his forehead and said, "Let Netflix lower the video bit rate in small places first. We will discuss this matter later."