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Volume 1 New York Story Chapter 34 The Secret of the National Debt

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    Update time: 2012-06-17

    "Young man, since Pfizer's board of directors has passed the reorganization motion, our cooperation can be officially launched, but I don't actually recommend that you re-register as an investment bank."

    Jack Morgan obviously has other plans or suggestions.

    "Do you mean to acquire an existing investment bank?" Wang Geng has not considered this. The most important thing for a bank or financial institution is its reputation, and a newly established investment bank will usually suffer in this regard.  few.

    Under normal circumstances, of course, customers prefer century-old stores with a long history, and are afraid of newly opened leather bag companies.

    But by establishing a new investment bank, you can avoid many of the original bank's economic disputes, receivables, and even lawsuits, etc., so Wang Geng prefers to register a new investment bank.

    Jack Morgan was finally persuaded by Wang Geng and promised Wang Geng to re-register an investment bank. Once the agreement was reached tomorrow, lawyers from both parties would be present and signed in Jack's office on the top floor of the Morgan headquarters building.

    "I plan to transfer the 22 million U.S. dollars of funds from my personal account in the Morgan family. This time you and I are cooperating. I don't want to alarm the Morgan consortium for the time being. Although I am the boss, I can just walk in front of the dozen partners.  The process will also take a lot of time.¡±

    Jack Morgan looked at Wang Geng and said calmly.

    Nima, are you afraid that I am a liar and will not be able to account to my partners in the future?  It's up to you, anyway, I just want it to be as fast as possible!  Wang Geng cursed in his heart and said with a smile,

    "There are always risks in investment. Of course, I agree with your decision. Time is more precious than anything now. As for whether JP Morgan Company will buy shares or you, Mr. Jack Morgan, will buy shares, it doesn't make much difference to me!"

    "It's a big difference to me. There are more than a dozen partners in JP Morgan, and it's far from time to share risks, so I decided to fund it myself, of course, in order to avoid embarrassment between me and my old friends in the future.  , I will not personally hold 49% of your investment bank shares!¡±

    Jack Morgan is obviously an old fox. What do you mean by future embarrassment between old friends? It's just because he is afraid that Pfizer will really grow and monopolize the global market in the future. Then the partners of Morgan's company will turn around and complain that he was silent for his good deeds.  To make a fortune, just live alone and don't tell your partners.

    Wang Geng shrugged his shoulders. From Edison's General Electric to Anderson's Pfizer, and now to the cooperation with Morgan, this three-step plan was planned that night before going out for supper through the window of the hospital.  of.

    The United States, an emerging capitalist country and its market, is just a tool for Wang Geng to borrow chickens to lay eggs. China is currently so backward that many ideas have no possibility of being realized in China. We can only do it step by step, starting with the United States.  rise.

    "Young man, as the guardian of the 22 million investment, I will make my daughter your partner, and the 49% of the shares will be held by her. Of course, she is as young as you, and you still have a long time to learn and improve.  the process of!"

    Jack Morgan took a puff of his cigar and expressed his plan!

    Wang Geng nodded. It didn't matter to him who would hold the shares, even the old butler of the Morgan family. No matter who held the 49% of shares for Jack Morgan, they could not change the basic fact that he was cooperating with him.  .

    "According to what you said before, Pfizer only needs an additional US$2 million in working capital in the first year to complete the renovation of its plant and equipment and produce 20 million pounds of citric acid. Young man, if what you said is accurate  That¡¯s right, if everything goes well.¡±

    Jack Morgan paused for a moment, looked into Wang Geng¡¯s eyes playfully and said,

    "I'm curious, what do you plan to do with the remaining 20 million US dollars in your investment bank? Do you have a second baby similar to citric acid? It seems that you mentioned the pharmaceutical industry at noon?"

    "Jack, to tell you the truth, the inventions in my pocket are by no means limited to the new citric acid process. The new citric acid process is just a stepping stone. For me, the important thing is to combine Anderson and Pfizer with this citric acid product.  The company¡¯s management team, technical strength and production capabilities have been integrated into my development track.¡±

    Wang Geng told the truth and didn¡¯t hide it at all.

    "So, I, Jack Morgan, am just a pawn on your chessboard?" Jack Morgan's eyes were a little gloomy because of Wang Geng's arrogance, and he thought to himself, you haven't got my 22 million yet.  Do you dare to talk nonsense in front of me?

    "Jack, whether it is Thomas Edison or John Anderson, they are all geniuses that I have admired since I was a child, and you, Jack Morgan, are no exception. The development of technology and pharmaceutical and chemical industries cannot be separated from the backing and stimulation of financial capital."Agent, the contributions you and old Mr. Morgan have made to this country and society are known to all the world!  "

    Wang Geng leaned over on the sofa and said apologetically,

    "If I have inadvertently offended your dignity, please feel free to criticize and correct me. You also said that I am still a novice on the road of investment banking, a typical layman. Of course, I believe that since your daughter is from the Morgan family  As a member, she will definitely give me a lot of useful advice and help as a partner in the future.¡±

    "Well, you haven't answered my question yet. Since Pfizer only needs your invention and an additional investment of US$2 million for the time being, what do you plan to use the remaining US$20 million for? Don't worry, I know you have 51  % of the controlling stake, you have the final say on how to spend the money! But you can always tell me your plans?¡±

    Jack Morgan felt quite helpless at this time. This feeling has not appeared for a long time since the death of his father, JP Morgan!

    "Jack, until Anderson and Pfizer have done a good job in citric acid, I don't plan to let Pfizer start other projects at the same time, such as the pharmaceutical industry you mentioned. If the stall is too big, it will obviously take care of one and lose the other."

    Wang Geng grinned, glanced at Jack Morgan, and then said,

    "There are quite a few industries that interest me, such as cars, airplanes, ships, tanks, and cannons. Jack, when you left the St. Regis Hotel at noon, I saw that your car was the latest Cadillac.  Model 55 series?¡±

    "Huh? You really have a big appetite, but 20 million US dollars is far from enough to invest in what you just said. In addition to cars, maybe you can try it reluctantly, but you can't see results in a day or two.  , maybe it will be a loss, the American car market is almost monopolized by General Motors and Ford!¡±

    Jack Morgan waved the cigar in his hand and continued,

    "But you have a good sense. The car I had at noon was Cadillac's latest Model 55. It has electronic starting, lighting and ignition devices! There is no problem with comfort and safety."

    "Jack, you are right. Investing in the real economy is not something that can be reaped so quickly. It takes a long time and carries high risks. So you asked me how I plan to use the $20 million. Do you want to hear the truth?"

    Wang Geng lowered his voice.

    "Of course, listen to the truth, don't be afraid. Although Old Jack has a bad reputation as a Wall Street tyrant, he is still very tolerant to young people who he truly appreciates. You, Wang Geng, are one of them. You can say whatever you want now!  Don't be afraid of making mistakes!" Jack grinned dissatisfied!

    "Jack, I regard you not only as a respectable elder, but also as a bole who can recognize a thousand-mile horse. I will tell you my own thoughts and analysis, and you will check to see if it is feasible." Wang Geng suddenly  Lowered his stance.

    Jack Morgan waved the cigar in his hand and urged him to speak quickly,

    "Don't worry. No one else will come in my study without my instructions. If there are any ulterior secrets or activities, just tell me and don't bother my mother-in-law!"

    ¡°My idea is to use these 20 million US dollars to speculate in the Allied treasury bonds on Wall Street!¡± Wang Geng calmly revealed the answer to the mystery.

    "What is 20 million U.S. dollars enough for? The U.S. national debt before the war was only 1 billion U.S. dollars. Now European countries alone owe the U.S. more than 3 billion U.S. dollars in loans. Isn't it just borrowing money by issuing the treasury bonds of the Allied countries! You only have 2,000 U.S. dollars.  How can it be possible for $10,000 to stir up such a large treasury bond market?¡±

    Jack Morgan was surprised. In fact, since the beginning of the European War, American bankers have been full of national debt issued by countries such as Britain, France, and Russia for borrowing money. If we can trace back to the generation of Jack's grandfather, Old Morgan.

    The biggest pot of gold the Morgan family made was the issuance of US$50 million in treasury bonds for France, the loser in the Franco-Prussian War. The treasury bonds issued by the French government were underwritten by investment banks at a 15% discount. Then during the Paris Commune Revolution, these bonds were  Treasury bonds plummeted.

    And Grandpa Jack, old Morgan Junius, went bankrupt and bought up the French national debt that could no longer fall. As a result, he was right on the bet. The Paris Commune Revolution was suppressed within two years.  The assets of the Morgan family have doubled several times.

    ??The Chinese young man in front of him wants to use his 20 million U.S. dollars to go to Wall Street to speculate in treasury bonds?  !

    Jack Morgan thinks Wang Geng is a bit self-aggrandizing and whimsical!
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