Wall Street of the third generation chaebol

＜ Refreshing morning greetings. (3) >

“Is it possible to do short-selling without borrowing?”

St. Petersburg Stock Exchange.

The secretary, who went to the stock exchange every day to inspect the stock market, confirmed one thing.

After trading a few stocks, I caught the fact that the settlement period was jumbled.

Even if a stock transaction is made on the same day, settlement is extended from the same day as the minimum to a maximum of one week or more.

Simply put, it is the deadline for deposits.

The stock seller only has to deliver the stock to the stock broker within that period. The stock buyer only needs to deliver the cash to the stock broker within that period.

You just have to meet the deadline.

What if I miss the payment date and do not deliver?

Failure to settle may result in a disadvantage to the Stock Exchange.

That’s the key.

[Payment period] may be extended.

In other words, there is no specific regulation on the ‘settlement period’ in the stock exchange, so it was not illegal to hold it for as long as possible.

3 days, 1 week, 1 year.

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One year is a bit of an exaggeration, but for example, it is.

“The longer the settlement period, the less the risk of short selling without borrowing. That’s fine.”

Short selling without borrowing.

In other words, you only need to sign a sale contract and deliver the stocks to be sold by the settlement date.

However, if the sold stocks are not delivered by the settlement date because the contract was signed in the absence of stocks, ‘settlement default’ occurs.

If payment is defaulted, the stock exchange will punish you with a penalty. You may be expelled from the stock exchange.

“Since the appearance of credit rating agencies, default has been a very sensitive issue in the United States. However, the Russian Empire is much broader than I thought…”

Since the advent of credit rating agencies, default on the US stock exchange has become a ‘death penalty’.

If it is an investment institution, its business may be suspended.

If so?

Who will do business with him?

It was, in fact, a social extermination.

But Russia was a little different.

The stock exchange itself doesn’t run that tight.

– You see me once or twice? How many times have we seen each other in Moscow? I’ll delay the payment a bit. you know too Real estate assets take some time to dispose. wait for me

– …is this the only time? If you want to extend it, you need to contact the upper management first, so please wait.

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Of course, if the payment period can only be ‘extended’, it is not a default.

However, the Russian Empire was a more corrupt country than the United States, and it was a time when the bureaucracy of the nobility and the tyranny of the monopolistic capitalists prevailed.

But who owns the stock?

Most of them are wealthy or aristocrats.

“There’s no way workers or farmers who can’t afford to put on the stock can’t afford it.”

It’s very closed.

They were all familiar faces, and they were forming their own league. To the secretary, the St. Petersburg Stock Exchange seemed easy to attack.

click.

The secretary opened the pocket watch. Soon, the promised time with Count Sheremetev is coming to an end.

“If it wasn’t for the Count, I would have gone back a bit.”

Short selling without leverage is a sensitive issue.

It was the same in the early 20th century.

A large amount of non-borrowed short selling is like a time bomb, so there were cases where the entire small and medium-sized stock exchange was blown up if the default was wrong.

The St. Petersburg Stock Exchange was lax in short selling without borrowing, but it was not in an atmosphere that allowed unconditionally.

However, with the invincible back of the Count, he was able to break through all the rude procedures.

“Everything is possible through the Count.”

Someone spoke to me from behind.

The count’s attendant was staring intently at the secretary.

“It is not only possible to short-sell without borrowing, but also to extend the settlement period, change the rules of the stock exchange, and anything else.”

“Yes? Anyway, isn’t that a bit unreasonable?”

The Count’s attendant smiled as if he had heard a funny sound.

“All the members of the Ministry of Finance’s trading committee have become acquainted with the Count. What would be impossible with the words of the Count?”

“Is that enough?”

“It’s more than you can imagine, except for the great Tsar and the glorious Romanovs.”

not familiar.

The Russian Empire’s aristocracy and bureaucracy were beyond the secretary’s imagination. He was an American who loved liberalism and democracy, and the Russian Empire was somewhat unfamiliar to him.

‘But if what the attendant says is true, it can’t get any better than this.’

If it goes wrong, flip the board over.

Having secured an exit strategy, the secretary went straight to the American embassy before stopping by the Count.

“This makes real short-selling without leverage possible.”

If you are confident, act.

The secretary’s pace increased.

The information collected so far must be turned over to the U.S. Treasury Department as soon as possible.

***

Private train to New York.

Heading north from Washington DC.

rumble. rumble.

“Quickly call the chiefs of New York’s major banks to the Waldorf-Astoria Hotel. Let’s send an important notice through the Treasury today.”

Short selling without borrowing.

In fact, in order to scratch the St. Petersburg Stock Exchange with short-selling, even through Count Sheremetev, he had to go through various complicated ‘Russian bureaucracy’.

But if you are short selling without leverage, it will be much simpler.

I led the Treasury staff on a private train to New York.

“I’ve told the British government through your finance minister, so I’ll join you soon. There’s still time until the City of London moves, but hurry up. We have a tight schedule.”

The exclusive train bound for New York flew like an eagle as it glided down a railroad straight to New York.

it’s a speed game

You have to raise funds to bomb the St. Petersburg Stock Exchange at once.

Since I intervened, it’s smaller than the New York Stock Exchange, but it’s the country’s core stock exchange.

To bring it down, the City of London and Wall Street must work together.

“It will be easier than I thought.”

The process of short selling without leverage is much simpler.

It is completed when only the sale contract is signed and the stock is delivered by the settlement date. It’s because it’s a problem to deliver that stock.

“Brother, Treasury Secretary Robert said that he was sending an official letter to the City of London through the British Treasury.”

“City of London will go wild. A day like today is not a common opportunity for financiers.”

Strike a country’s stock exchange?

I usually don’t do it unless it’s a big deal. I’m an American behind JP Morgan Bank, and I have a cause, so I was able to scrape the New York Stock Exchange.

Russia is different.

Neither democracy nor liberalism.

It was a battlefield of demons infested with the Tsar’s secret police, the Ohranas of the Ministry of the Interior.

However, he obtained a shield called Count Sheremetev.

I also got friends called the British government.

The City of London will join hands with New York’s Wall Street to take hold of the St. Petersburg Stock Exchange. He will be beaten like crazy until he dies.

“Oh, did you contact the Count?”

“I contacted you through the US embassy. It’s up to the earl to believe or not to believe what we say.”

The Saint Petersburg Stock Exchange collapses.

This is a single message that I passed on to the Count. If it’s too long, it’s lengthy, and if the Count doesn’t believe it anyway, it’s meaningless to write a long letter, so I wrote it short.

But you will probably believe it.

Those who do not believe in this cannot cast a blank check even in my rejection.

“You have to give to live.”

There is going to be a carpet bombing soon, but it would be a bit troublesome if a collaborator gets involved. In the first place, the Earl is so wealthy that he will not go bankrupt if his stock and securities are scrapped.

How long will Moscow’s real estate assets go bankrupt?

Besides, it was the Count, not me, who reached out first.

“If you didn’t believe it, you wouldn’t even reach out to me.”

rumble. rumble.

The steam locomotive blew out black smoke like dark clouds and entered the train platform.

“Master, this is New York.”

“You’ve arrived.”

We arrived in New York and went straight to the Waldorf-Astoria Hotel. It had already been a long time since the train had departed, so it was time for the presidents of New York’s major banks to arrive.

***

Kurung…

I rode the Mercedes Simplex that I received as a gift and ran directly to the Waldorf-Astoria Hotel.

In the meantime, I have organized today’s agenda inside.

“In a situation where non-borrowed short selling is certain, large New York banks will not take advantage of this opportunity. Non-borrowed short selling is, in fact, a job that costs money and consumes money as the scale grows.”

“I’ll definitely ask.”

“If you decline this short sale without leverage, there will be no sniping on Wall Street. There is no risk.”

The risk is low.

If the stock index collapses due to a massive bombing of short selling, stocks that have been short-sold without borrowing can be sucked in in large quantities at a low price.

Put money in and eat money.

If it was certain to fall, there was no means of making money as much as this.

There is no risk at all.

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Of course, the proceeds from the sale do not come into your hands until the settlement is made, but in a slump, you can get a large amount of stock at a low price, so there is no worry about default.

As long as you work in the New York financial district, you can use even leverage to enter.

It shouldn’t be too big.

But if it’s a large New York bank, it can handle it even if it’s too big.

“Is this… if the payment period is a rubber band, you really mean to openly sell without borrowing?”

Hyundai’s three-day settlement period became a rule in 1975 when the U.S. Securities and Exchange Commission officially set the settlement period to three days. In other words, it means that the payment period was jumbled up before that.

That’s why there are so many loopholes.

It is advantageous for short-selling without borrowings.

It gives you more opportunities to sweep stocks at a lower price.

‘Of course, even in modern times, three days are not strictly observed. It can be extended and stretched like a rubber band, but not as much as in the early 20th century.’

New York was still a beast society compared to modern times.

The soon-to-be-entered St. Petersburg stock market was a paradise for financial monsters.

“Fantastic.”

I smiled.

bang-!

“The economic crisis in the Russian Empire has reached a dangerous level. To protect the interests of our investors, the US Department of Treasury will distribute several letters of advice on investment from the Russian Empire.”

Waldorf-Astoria Hotel.

I hit the podium with my fist.

The presidents of the major banks of New York looked at me with curious eyes. The projects I’ve been asking about so far have always been profitable for them, so it’s only natural.

‘The economic crisis of the Russian Empire is just an excuse. Just by informing you of this fact, it has gathered everyone in one place, and has already formed a short selling force.’

I was hiding my true intentions now with a cause. The presidents of New York’s major banks understood it perfectly.

The economic crisis is a slump.

Short selling in a slump.

It is short.

They looked slightly excited and agitated at the thought of a short sale.

“The St. Petersburg Stock Exchange had one shock last Thursday. Black Thursday.”

A conference like this will soon be held in the City of London by now. The British Treasury is sharpening a knife against the Russian Empire, so it’s far more bloody than Wall Street in New York.

He will run with a genuine desire to kill.

“If I told you this, would you understand everything?”

“Wheeik-!”

whistle.

Laughter erupted inside the conference room.

The young presidents of the big New York banks blew a whistle and cheered. The executives who followed the presidents began to roll their eyes quickly, tapping their calculators in their heads.

But there was a smile on everyone’s lips.

The capitalist smiles of the bloody wildcats began to spread.

“The official documents are being distributed to the big New York banks this evening. They describe the economic situation of the Russian Empire in detail, and we would appreciate it if you could refer to the data.”

I threw away the pretense.

procedure? don’t need it all

Profitability alone says it all.

There was no need to lengthen the briefing.

“Together with the City of London, we plan to bomb the St. Petersburg Stock Exchange. Leveraged short selling will do the same with you.”

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Off the record.

After all, this is a closet.

This novel was posted at https://readwn.com

One raised his hand.

“Are only our New York banks participating?”

“No. The British government and the City of London will help establish the offshore company. Your prime minister owes me something, and the urgent is the UK. This time, we are with the City of London.”

“Oh oh…”

The murmur spread out.

They will all know.

As far as I am concerned, not only the British government, but also hedge funds and the Detroit Investment Bank are involved in this operation.

New financial powers growing in the American West, like Wells Fargo, may also join in.

“Oh my God…”

Bankers were thrilled by the scale of short selling.

The two largest financial districts in the world have joined hands. In fact, the two pillars of international finance are carpet bombing one place.

At this point, to be honest, it’s harder to fail.

“Sweep it away. Not a single grain of wheat is left behind.”

For a moment the silence passes.

Soon cheers and thunderous applause erupted.

“””Waa!!!”””

It’s a bonus festival.

＜ Refreshing morning greetings. (3) > end