Chapter 1159
On the same day, Standard & Poor's rated Samsung with a "CC" rating for the entire stick credit, in other words, the entire stick is now more likely to default.
Don't forget that the economic lifeline of the stick is basically controlled by others, even 50% of Samsung's profits go into the pockets of others, and other companies even more so, basically working for others.
As soon as Standard & Poor's released this rating information, Samsung's market value plummeted, even on the same day, with capital fleeing and panic indices spreading.
The foreign exchange market was in shock and the stick dollar was devalued at a rate that scared people abroad, not to mention the local population.
The result was a horrific run on the banks. In less than half a day, no one went to work and there were long queues at all the major banks, either to exchange their money for dollars or to take it out and spend it.
Supermarkets were looted, jewellery shops were looted, gold jewellery etc. was looted.
Imagine the local stick people seeing their money depreciate in value every hour and wanting to dump it all like a ghost.
......
November 2, afternoon, Daegu City, Daegu Bank headquarters.
"President, President ......" the manager of Daegu Bank's head office rushed into the president's office in a panic.
"With only 2.4 trillion dollars left in reserve for deposits at headquarters, the run has ...... been going on this trend and there are less than 10 minutes left until the tipping point ......."
"President! Call an ambulance!" That general manager was so shocked that before he could finish his sentence, the head of the company muttered a finished sentence and directly fainted on the spot.
This run was under the influence of a credit crisis, a huge crisis of a completely sudden and concentrated nature.
As a bank, the run is precisely the most frightening kind. The run phenomenon triggered this time is not a credit crisis triggered by the poor operation of the bank or other reasons, but there was no news beforehand, no preparation, no advance planning.
The old US was really ruthless, not soft at all. Faced with the plunge in devaluation leading to a large number of depositors demanding to withdraw their deposits at the same time, the banks simply could not afford to pay, further triggering panic and causing an even more serious run, already heading for a disgusting cycle.
A massive run could well cause banks to go bankrupt and collapse. Large banks and small banks often have short-term borrowing facilities with each other, and the collapse of one bank often ripples through the others like a domino effect, eventually leading to a complete collapse and even an economic crisis.
The authorities are simply incapable of bailing out the market with this blow to the old US, not to mention that those in the international foreign exchange market are also laying their hands on it at this time, with large amounts of money in their hands waiting for an opportunity to move.
The home eaters next door looked stunned and couldn't even understand why the stick economy collapsed when S&P over in the old US just announced a new credit rating, downgraded to CC, and two SDs coming on Samsung?
Standard & Poor's has such horrible power? There is no doubt that S&P's energy is indeed terrifying, but it is not invincible, and economies that reach the $10 trillion volume can ignore it.
But smaller economies are absolutely terrified of it, not to mention who would believe that the Tao of this is really as simple as a mere S&P downgrade? This was clearly a prepared and premeditated economic war.
In the afternoon of the same day, even more bad news came.
Daegu Bank announced its bankruptcy and liquidation to the public, as the first local bank of the stick, with 276 branches at home and abroad, founded in the 1960s ...... collapsed.
As if overnight ...... died a sudden death! If it was a crisis before Daegu Bank declared bankruptcy, the bankruptcy was the beginning of a major disaster.
Only when the old US stepped in, the stick couldn't carry the day.
To punish this two-fifths, they simply don't have too many means to ravage even in different ways.
And a few neighbours nearby, looking at the situation, rushed to clear the snow from in front of their doors, then gathered around the fireplace to eat melons and watch the fun.
Immediately afterwards, in the early hours of the 5th, a second interest rate hike was announced over there, adjusting the funds rate by a margin of 20 basis points.
The announcement caught everyone off guard and they all cursed the fact that this was a nonsense.
The result was a hasty devaluation of the major currencies, and once the interest rates were raised, the blow to the stick economy was compounded by a plunge in the stock market.
The international predators, too, are putting on all sorts of thrilling shows.
The normal scenario is for the capital markets of emerging markets to fall to cabbage prices, and when some quality assets are left untouched, another interest rate cut is started to buy their cheap quality assets again, completing a full cycle of shearing.
But then again, if the stick economy is well structured, not overly loaded, not overly dependent on the old US, and has enough strength, it would not be lying down straight away in less than three moves.
Sanction this disobedient little brother, the old US has a hundred positions to make him lie down, a rating, in the use of the dollar's world status, in the interest rate between a rise and a drop, the stick down.
Chapter 1160
The sticks lay down straight away for 48 hours, not resisting at all, because they couldn't carry it, how?
Incidentally, the world economy also sneezed and almost caught a cold in those 48 hours.
Samsung's market capitalisation fell wildly, losing the $100 billion mark.
Finally.
On November 6, the Samsung Group could not withstand the internal and external pressure, the outside world was being suppressed by the United States, the original partners were lost one by one, the internal public had begun to hate Samsung, and the stick had seized this opportunity to want to split the Samsung Group.
The Samsung Group was defeated. On the morning of the 6th, it had to announce its withdrawal from the CSAC China Semiconductor Alliance system.
From now on, it can only do the rhythm with its tail between its legs in front of the old US.
......
In the afternoon of the same day, Xiangzhong City, the headquarters of the Future Technology Group, conference room.
All the top management of the group company are gathered together, the people's expression is quite grave, the old U.S. sanctions against Samsung and the stick punishment is so strong, so hard, so decisive, out of the world's expectation.
The situation now is 1,678 won to the US dollar. The stick economy has been tragically sheared by Wall Street and set straight back a decade, a response mistake is such a tragic price to pay.
"This is a move by North America to make an example of the monkey, this is to tell those international member companies of the SIA that this is what happens when you are a traitor." Tang Shan couldn't help but say with emotion.
"The old US is really overbearing."
"The latest news from Microelectronics is that Peter Winick, the head of Acemore (ASML), has been scared off."
"He was about to reach a cooperation with Microelectronics yesterday and was preparing to officially announce today that he would become another big core international member under the CSAC system, but yesterday he hurriedly returned to Europe on the grounds of urgent internal company emergencies and important matters." President Li Bingling also said.
The old United States this time seems to be really anxious, their own economy does not improve, the economic volume does not reach more than 10 trillion U.S. dollars amount, who saw the panic.
In this world, there are only two countries that have reached the US$10 trillion level, namely the rabbits and the hawks.
The two sides are competing for dominance in the field of high technology, not to mention the eagle sauce, the rabbit is not afraid, S&P has done it before, found nothing useful to the rabbit even, so as not to smash their own signboard.
This time the stick within 70 hours directly lying down posed by the American father all kinds of ravages, 10 years of effort, 70 hours less than all gone, who can not panic?
"The number one plus one minus, never cheat but can kill, the currency one expensive one cheap, the surface blooming brightly behind the flow of blood; war one win and one loss, can win the unbeatable, must not be defeated but still glorious ...." Li Linfei, the chief of the meeting, muttered, and as soon as he spoke, the crowd stopped talking and focused their attention on him.
"Gentlemen, I hope you all understand that this high-tech battle has already begun to heat up, and it is not possible to say that victory is not a victory, not that defeat is not glory."
Li Linfei looked around at the crowd, and the executives all nodded silently. On the one hand, CSAC wanted to break the monopoly pattern of SIA's discourse, and on the other hand, SAI was desperately trying to maintain the old system in the face of CSAC as a challenger.
This is destined to be an irreconcilable conflict, so we will have to fight to determine the new victor.
In this contest, whether it is Samsung or ASML these are secondary.
"What I'm worried about is whether it will intensify and the two sides will rise from a commercial competition to even a hot war situation." Cheng Ze said rather gruffly, it would not be a situation that one company could control at that point.
"A hot war to not so much."
Li Linfei shook his head and said, "But the economic and commercial level of competition will definitely be a situation where the bottom card is out, so be prepared for this."
Times are different, if this kind of competition had occurred in the pre-nuclear era.
The unequal sharing of spoils would only end up in a hot war, wasn't that the reason for the two wars?
But today's era is the nuclear era, and everyone has a mushroom cloud in their hands, and the mushrooms in Hawksbill's hands could plough the planters a dozen or twenty times over.
The rabbits do not have many mushrooms in their hands just two or three times, less mushrooms than Hawksbill but it does not matter because once is enough, ten or twenty times is not much different from once, the mushrooms are planted and the human race is gone.
"He is strong let him be strong, hit the iron but also need their own hard, the old U.S. do so is unpopular, this also fully exposed our rival bottom card is not much, otherwise it is not to become such a grumpy old brother."
Li Linfei blandly laughed: "Outside the clamor do not need to care much, we bury our heads in our own business, do not whole what huli fancy operation, the bottom card has a king, the heart does not panic, pristine a little, in order to remain unchanged in response to changes."
The crowd couldn't help but smile, Li Linfei said this to make everyone feel more relaxed.
In early November, the eyes of the world were focused on the palm-sized peninsula of Northeast Asia.
The stick classmates simply lay down with both eyes closed and let people do whatever they wanted while Hawksbill ravaged them.
Then came the mad rush of international financial capital, and a large number of high-quality assets were bought up by foreign investors in a frenzy.
Ten years of struggle have been spent on the graft, and that's not to mention the fact that everyone has come up to take a bite out of it, as well as the fact that Benji and Bunny, the two neighbours next door, are buying money from the stick in their homes.
Because it's so cheap.
......
On the morning of November 11, Samsung Group announced its withdrawal from CSAC, and in the afternoon of the same day, its head personally led Samsung's top executives in an emergency press conference where they collectively bowed and apologized in front of the media cameras, causing a sensation.
Samsung is not just panicking this time, but is really scared, with more than 70 of its subsidiaries and overseas business partners looking at Samsung like a death knell, those partners are afraid of sanctions from the US.
Although the United States has not publicly announced that it is not allowed to cooperate with Samsung, who dares to sanction who, but this time sleep also dare not take the risk.
You ask why the old US is so domineering? Hundreds of bases around the world and an annual military expenditure of over 700 billion dollars is the answer.
The internet is buzzing with talk.
"This nigga, f*ck you, is this what the wicked old US is doing?"
"Horrible as hell, horrible as hell."
"How can the stick economy be so fragile? In less than three days, it's lying straight down?"