Game Development Giant

In some articles that Jester once read in China, many articles said that the Plaza Accord was a result of Western countries led by the United States forcing the yen to appreciate. In fact, this is completely wrong. The essence of the Plaza Accord is that the United States requires all countries to appreciate the value of the yen. The government should no longer collect U.S. dollars. In short, it means not to store so many U.S. dollar reserves. The consequence of asking countries not to collect U.S. dollars is the depreciation of the U.S. dollar.

As the only international currency, the U.S. dollar’s ​​importance in the world economy is self-evident. As the U.S. dollar depreciates, other countries’ currencies will naturally appreciate relative to the U.S. dollar, because they all use the U.S. dollar as a comparison object. There is a saying that the Plaza Accord was intended to force the yen to appreciate.

In fact, in the two years after the signing of the Plaza Accord, the German mark and the French franc both doubled in value compared to the US dollar, which was equivalent to the appreciation of the Japanese yen. The pound appreciated slightly less. This may be because the United Kingdom was also in a financial crisis during this period. Reasons for the reform and transition period.

But here’s the question, why was the Plaza Accord a disaster for Japan, but insignificant to Germany? The Germans even took on the task of rebuilding East Germany after the merger of the two Germanys. After all, the reason why the Plaza Accord was born was because of the economic strength of these two emerging post-war countries, especially in export trade.

Jester said that if the U.S. government really did this, it would be a conspiracy against Japan or Germany. Perhaps it is not appropriate to call it a conspiracy. It might be better to call it a conspiracy. The difference is whether the two countries can follow the rules. The script assigned to them by the Americans continues.

The result was that the Germans were gone and the Japanese were gone.

When many people talk about this important event for the world economy in the mid-1980s, they always talk about the Plaza Accord, but intentionally or unintentionally ignore the signing of another agreement two years after the Plaza Accord was signed.

What the Plaza Accord wanted to do was to devalue the U.S. dollar, thereby reversing the U.S. trade deficit, and thus fully revitalizing the world economy. However, judging from the two years since the agreement was signed, in addition to the appreciation of each country's currency having a certain impact on each country's exports, In addition, the U.S. trade deficit has not changed to a large extent, so in 1987, in Paris, France, this time the G7 member states jointly signed a new agreement-the Louvre Agreement.

The contents of the Louvre Agreement are basically completely opposite to the Plaza Accord. The Plaza Accord requires the devaluation of the US dollar, while the Louvre Agreement requires that the devaluation of the US dollar be stopped. But here’s the problem. Once something starts and forms inertia, , it cannot be solved so easily.

Nowadays, the world is buzzing with talk about the depreciation of the US dollar. It is not surprising that Jester knows that the federal government will take big action in this regard. However, he is surprised that Jester can see so many things from the depreciation of the US dollar that ordinary people cannot even imagine. For example, as he said, if the United States really contributes to the devaluation of the US dollar, then this will be the beginning of a conspiracy for some countries.

After pondering for a moment, Sandy Weir asked hesitantly: Jace, you said shearing sheep, so where is that sheep? To the west? Or to the east?

Jester smiled and replied nonchalantly: Grandpa Sandy, is there any difference? No matter which of the two countries follows our established script, there will be no difference in the ending. Of course, I The country in the East that is more optimistic will follow the established script.

...Hearing Jester's reply, Sandy Weir nodded silently. Obviously, he thought so too.

Although there are two sheep, they are two extremely healthy sheep, jumping around vigorously. However, due to various restrictions, American breeders cannot use weapons to kill and cut the sheep, which loses the meaning of raising them in captivity. Therefore, I want to To shear these wools, naturally you have to find a way to make these two sheep no longer so healthy and lively.

The problem is here. If the economies of these two countries continue to follow this safe and stable model, it will obviously not achieve the situation that the United States wants. Therefore, the U.S. government must add some variables in the middle. In fact, This variable can only be said to be an introduction. The impact on these two sheep is not entirely under the control of the Americans. The outcome is all the choice of these two sheep.

Otherwise, the United States will be powerless against them.

After the Plaza Accord, the Germans and the Japanese chose completely different ways of coping in order to ensure their domestic economic strength. The result was that the Germans were irrelevant, but the Japanese collapsed ten years later, losing ten years. The saying has been widely circulated since then.

These things were too far-reaching, and there was no need for Jester to speak them out. The reason he came to see Sandy Weir this time was not to discuss these things.

Therefore, Jester took the initiative to change the topic. He did not beat around the bush, but went straight to the point: I heard that Grandpa Sandy planned to start a new business. I wonder if I can participate in it?

After hearing Jester's words, Sandy Will laughed.

He knows how big the Jester family fortune is now, and what he needs most to make a comeback is money. Although after he was kicked out of American Express, according to the previously signed agreement, the compensation he received was not small, at least It would not be a problem for him to live a peaceful and wealthy life for the rest of his life, but this is not the life he wants.

But this money is too scarce for him to establish a financial company that he can take seriously. In the original history, during the unemployment period of more than ten months from 1985 to 1986, it was exactly It was the lack of start-up capital that prevented him from immediately starting a comeback, but delayed it until 1986, when the two financial directors of the Commercial Credit Company took the Fortune article Sandy that Jester mentioned. Will: The Rare Manager came to visit, and it was only then that Sandy Weill seized such a once-in-a-lifetime opportunity.

Sandy Weir did not agree or disagree directly. Instead, he asked Jester with a smile: Do you think, a loser like me who was kicked out of Wall Street, if I want to prove to those idiots who have stolen high positions? They were wrong to kick me out, so where do I start?”

Jester is not an excellent financier, and he can’t even be said to understand financial knowledge. But one thing about him that others cannot have is that he is familiar with and knows some crucial things. Therefore, facing Sang Regarding Dee Weill's question, Jester calmly took out a pen from his pocket and carefully and conscientiously filled out a question in the blank space of the sidebar of the New York Times spread out by Sandy Weill. The name of the company, and he also used a pen to circle the article about Japan's trade surplus and the United States' trade deficit that he had discussed with the other party before.

Commercial Credit Company?

Sandy Weir looked at the name of this little-known company written by Jester. He even looked at Jester in surprise again. In fact, if he were not someone in the financial circle or someone familiar with the financial world, People who don't know much about this company will never know anything about this company that is already in trouble.

…The reason Jester knows about the Commercial Credit Company is because Sandy Weir started here, and the predecessor of the famous Travelers Group was also the predecessor of this company that could no longer make ends meet, so Jester When Jester heard Sandy Weir's rhetorical question, he nodded firmly and repeated what the other person had just said. The difference was that Jester had no doubts.

Yes, Commercial Credit Company.

After receiving Jester's accurate reply, Sandy Weir pondered first. He knew this company. In fact, he knew many things about the Commercial Credit Company before he left American Express. At that time, American Express was interested in the company. Commercial Credit Co., Ltd. and Commercial Credit Co., Ltd.'s parent company, Data Control Corporation, are not satisfied with Commercial Credit Co.'s losses and intend to sell.

Sandy Weill was partly responsible for this matter. He patiently conducted a comprehensive investigation into the commercial credit company's market assets, business management, and service quality. Through the confusing dust and fog, what he saw was a little-known high-energy core, whose energy was enough to shake the entire financial services industry.

Indeed, in the eyes of Sandy Weir at the time, the Commercial Credit Company was a buried gold mine. However, before he could submit the investigation report, rumors spread in the company that he was to be kicked out, so In the end, Sandy Weill kept this report in his own hands, and American Express and Data Control Company also failed to reach an agreement due to some acquisition issues, so the acquisition fell through.

In Sandy Weir's eyes, Commercial Credit Company is indeed the most suitable tool for his comeback and revenge against American Express. However, the problem is that although Commercial Credit Company is no longer what it used to be, their stock price is still the same. With twenty dollars, it was impossible to complete the acquisition according to his own financial resources.

Jester knew that in the original history, Sandy Weir was able to complete the acquisition of the Commercial Credit Company because in the second half of 1986, the Data Control Company really couldn't tolerate this company and directly sold off their holdings. Some 92% of the shares of Commercial Credit Company directly caused the share price of Commercial Credit Company to fall like a waterfall from 20.5 US dollars to 5 US dollars, and Sandy Weir also made an acquisition at this time. It just cost seven million dollars.

And even these seven million US dollars are still Sandy Weir's entire net worth. Jester remembered that when he was reading this story, Sandy Weir's most proud disciple and the future helmsman of Dalmore, Zero James Dimon, the owner of JPMorgan Chase, the only profitable U.S. bank during the eight-year subprime mortgage crisis, also invested $4.5 million at this time to buy these commercial credit companies that were worthless in the eyes of others. of stocks.

He even joked with Sandy Weir at that time, saying that this is all our property, and if we lose, we will beg for food.

Who would have known that in just the first year, under the management of Sandy Weill, known as the greatest manager of the twentieth century, the commercial credit company's net profit would exceed 40 million US dollars. r1152