Chapter 420 An Ruo Taishan
“There is no hope at all!”
Klein roared in pain, then collapsed in the trading floor, and the surrounding staff looked at him with sympathy. Klein, but everyone is having a hard time now, so no one comes forward to say a word of comfort. This kind of thing has become commonplace for everyone.
Klein issued a soul torture: "Who can save us now?"
The answer is no. The stock market is inherently a high-risk gamble, and the risks must be borne by the investors themselves. From the exchange On the day it was established, the responsibility was completely evaded, just like the statement printed on the tobacco package that smoking is harmful to health.
Of course, the collapse of the stock market will also have a major and huge negative impact on the Austro-Hungarian economy. The government's active actions can still reduce some losses.
If it is Germany, a country with a very strong government execution ability, it is still possible, forget about the Austro-Hungarian Empire. In terms of economic policy, the financial situation of the Austro-Hungarian Empire has always been unstable, and its economy also has problems. With imbalances and protectionist tendencies, Austria and Hungary are typical examples.
Now the really big capitalists in Austria are trying every means to pass on the crisis, and Hungary next door is also one of their goals. Similarly, the great nobles of Hungary also want to sell their grain as quickly as possible. You want to dump industrial products to me, and I also want to dump agricultural products to you! Both sides raised tariffs.
As for the central government, it can only stare blankly. It even has financial difficulties in normal times, and it is impossible to have money to rescue the market. Now the banks cannot protect themselves and have no place to borrow money.
At the same time, the Vienna branch of the Bank of Hechingen.
"President Nakins, your bank is the only one that is still able to provide excess funds during this economic crisis. You can't just ignore it!"
"Mr. Sellers, I'm really sorry. , now the entire Vienna banking industry is in turmoil, and we can barely maintain our Operation and ensure the safety of depositors' accounts, so there is nothing we can do at this time."
"President Nakins, we are old friends. My company just has a small problem with the capital chain. Not much, only 350,000 dong can survive the crisis "
"Three hundred and fifty thousand guilders is not a small amount, and it is not something I can transfer at will. Mr. Sellers, if you listen to my advice, you should sell all the factories in your hands at a low price. Well! The business you do is highly tied to the railway industry. According to the current market conditions, If you keep it in your hand for one more day, you will lose a lot of money. Don’t think about the order. Your customer may not even be able to pay the liquidated damages.”
“Oh, actually I also want to sell it. , but it can’t be sold at a high price now, and no one will take it over.”
"Then there's nothing we can do. It's better to declare bankruptcy directly than to hold on. Employees will cause trouble if they don't receive their wages."
Sellers is also a capable person, and he can still tell at a glance in the midst of the storm. The Bank of Hechingen is in good health.
Actually, this is not a difficult matter. As long as you ask around, you can still find out the signs. Other banks are laying off employees or failing, and only Hechingen Bank is sitting on the sidelines and watching the situation.
The business staff of Hechingen Bank did not show any signs of trouble at all. They stand out among their peers. This shows that Hechingen Bank is confident, and the only one who can give them such confidence is It is a well-funded and healthy operating state.
Of course, the fact that Hechingen Bank is so cool is entirely due to its previous efforts. If time went back to a few months ago, it would have been the other way around.
At that time, Hechingen Bank carefully sorted out its own problems and eliminated all possible risks in a timely manner. After all, Hechingen Bank was only a novice among European banks and had many inexperiences.
Hechingen Bank reorganized itself, streamlined personnel and institutions, lowered storage interest rates, raised loan application thresholds, and sold non-performing assets. It caused a storm at the time.
Many customers turned to other banks and financial institutions as a result, but when the economic crisis broke out, they completely regretted it, and Sellers was one of them.
So Nakins was indifferent to Cyrus's request. Of course, even without this incident, Nakins would not have any friendship. "Okay, Mr. Sellers, it's better to ask for others than to ask for yourself. You'd better ask for your own blessings!"
Cyrus still wanted to fight for it: "..."
However, Nakins said directly to the assistant: "Andy, see you off."
After Cyrus was asked to leave , Andy said: "President, affected by the crisis, our bank's recent business seems to be not very good, and we don't know how long this crisis will last."
Nakins said: "Haha , don’t worry, it’s just a cold winter in the market. Could it be that people don’t go out because of snow in winter? Economy! It will still work, but it won’t be as popular as before. We just have to do our own thing well, and we have accumulated enough credit during this crisis. It will be obvious who the customers will choose next time, maybe because of competition. Our competitors will be eliminated one after another, and our business will be better in the future."
"By the way, President, here is a telegram from the headquarters that just arrived. The headquarters requires all branches to continue to lower the deposit interest rate by 10%. A two o'clock.”
Nakins drank coffee leisurely and said: "Then we will announce it tomorrow morning! Now that other banks and companies are experiencing thunderstorms, there is really no need to continue to maintain such high interest rates."
In fact, Hechingen Bank's After the last adjustment, the deposit interest rate, which was already maintained at a very low level, continued to be reduced by one percent. Basically, the interest that depositors rely on to obtain interest on their deposits can be ignored.
After all, customers are lost, companies are bankrupt, workers are unemployed... a series of chain reactions have caused the banking industry to not make much money now, or even lose money. It is normal operation to reduce the profits to depositors. Although the interest rate has decreased, it is still lower than It’s much better to make a profit after losing all your money. If you still have interest, just enjoy it secretly.
Evening time.
Wiggins got off work and just walked out of the bank door when he saw the staff of his old rival Cruz Bank arguing with the depositors with a sad face.
Wiggins got closer and listened carefully to what the crowd was saying:
"Don't worry, everyone, it's time to get off work now, we are closing!"
"Asshole, ours If you think about getting off work before the money is withdrawn, don't you think you are a fool?"
"That is, if you don't cash out the money today, we will not let you go."
“I heard that the railway company went bankrupt and you couldn’t collect your money. The capital chain has been broken. Why do you want to trick everyone into going bankrupt with you?”
"Repay our deposit!"
"Refund the money!"
......
Looking at this lively scene, Nakins clicked his tongue and said: "What a troubled time!" ”
The Bank of Hechingen is a sure winner, but due to the economic downturn, everyone’s enthusiasm for saving money has also decreased. The Bank of Hechingen has also been affected, and many depositors have The money was withdrawn, but it had no impact on the Hechingen Bank which had lost weight. The Bank of Hechingen had experienced this once a few months ago. At that time, the economy was still very hot, and there were many takers, and they actually made a lot of money. Nowadays, the number of depositors in Hechingen Bank has been reduced due to the drag of the entire industry. This situation is only temporary. After a while, everyone will find out who is the real winner in the crisis.
(End of this chapter)