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- "You used Geass on him?"
C.C, who had just walked into the embassy living room, immediately asked after seeing Gao Hai's unreasonable obedience to Zero.
"Of course." Lelouch admitted calmly.
"If you hadn't disappeared inexplicably again, I wouldn't have used Geass on Gao Hai."
If possible, Lelouch would rather negotiate with Gao Hai than use Geass.
But Lelouch couldn't get involved in the deal between Gao Hai and C.C, because at this moment he couldn't put forward any more exciting conditions than what C.C proposed at the time.
Gao Hai's attitude is aggressive, and he is likely to hand over the Black Knights if he cannot fulfill his promise immediately. And C.C disappeared after awakening his memory. For this girl who had already had a criminal record, Lelouch would not say that all his hopes were placed on her. So he chose the most direct and simple way - Geass.
¡°Some things have delayed me a little bit.¡± C.C said this and glanced at Musashi standing outside the door.
In front of the whole world, an earth-shattering science fiction blockbuster was staged over the Tokyo Concession. It was not without cost. The powerful firepower of the Dawn Goddess sweeping across the area is certainly shocking, but its shortcomings are also very serious.
As the central lead ship Ramus that replaces the explosion, the design of the Dawn Goddess completely reflects Camillo¡¯s bad taste.
3 x 50x diameter 500mm triple-mounted electronic hot-wire cannon, 6 x 60x-diameter 125mm double-mount electronic hot-wire cannon, 20 x 20x diameter 100mm double-mounted light rotating light cannon, 14 x 20x caliber triple-mounted high-angle light light cannon And 60 80mm automatic rotating laser cannons for anti-aircraft, making this warship the first pure energy weapon warship in history.
It sounds powerful, but the price is that the huge heat generated by the energy weapon salvo is enough to force the battleship's weapon system into a cooling state.
When the battleship was originally designed, it was not positioned for combat in the atmosphere. Even with ion cooling, a convenient system that speeds up the cooling speed as the firing frequency increases, it still requires a buffer time to reach the highest point of firepower. Even in the universe, it takes more than 10 minutes to reach full firing frequency of all weapons. Of course, the situation in the atmospheric environment can be imagined.
So, after a salvo. Musashi took the battleship and flew directly out of the atmosphere for forced cooling, and C.C was naturally brought into the universe involuntarily.
"You should have a lot to say and want to ask questions, right?"
C.C is a bit self-deprecating, as if his original plan should not be what it is now. The person in front of me should be the person I have placed my expectations on. When did the change begin?
From that accident at Narita Mountain? Or even earlier?
"Of course, but will you answer honestly?"
Although he didn¡¯t get along with C.C for a long time, Lelouch was quite impressed by the awkward personality of this mysterious girl in front of him.
"Have I ever lied?"
Will not lie, but will choose not to answer.
"Okay!" Lelouch chose to accept C.C's question conditions.
Sometimes, not answering is equal to answering.
"However, there are still some small issues that need to be resolved before that."
Lelouch turned his attention to the members of the Black Knights who were placed on the execution platform outside the Embassy of the Chinese Federation, who were heavily guarded by the emperor.
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"Brother, please don't read this information yet." Euphemia pointed to the turned on TV, which was showing a live broadcast of news from District 11.
The former Cornelia Knight, Gilford, who temporarily took over the responsibility of the Governor of District 11, also adopted a tough response when faced with the arrogant provocation of the Black Knights.
He tied all the members of the Black Knights who were captured in the last rebellion outside the Chinese Federation Embassy. If Zero did not appear within the time limit, they would be publicly executed.
"Why don't you care about such an important matter?"
Euphemia doesn¡¯t understand at all why Kamyu, who initially paid so much attention to Zero¡¯s appearance, seems to find the information on the computer more attractive and turns a deaf ear to such an important event.
¡°To me now, the EU¡¯s government debt, which has reached 152% of the gross national product, is more attractive.¡± Camiu finally raised his head at this time.
"Imagine that a big country with an annual gross national product of more than 15 trillion is burdened with a debt that is 1.5 times that amount. What a thrilling thing it is!"
"So many!?" Euphemia has never studied economics, only recentlyIt took her a while to learn a little bit, but just hearing this number was enough to surprise her.
You must know that the annual gross national product of the Bunitania Empire is only 12 trillion, which was barely reached after the empire drained blood from the colonies.
In the face of data, compared to the Bunitania Empire, which took more than 10 years to rise from a second-rate country to a superpower, EU, a veteran superpower, gave Euphemia a more intuitive concept for the first time.
"But isn't the EU known as the world's number one economic power? How come it has such a high debt?"
Euphemia still understands that it is impossible for every country's finances to be without deficits, but she still finds it unbelievable that the EU has such a high debt ratio.
"The reasons are very complicated, but overall, it is caused by the sub-credit crisis." Sure enough, Euphemia's attention was immediately attracted by Kamyu's topic.
"Before that, we need to introduce a few professional terms." Finding Euphemia's eyes sparkling with the light of a curious baby, the corners of Kamyu's mouth couldn't help but turn up slightly.
"First of all, there is a term called [leverage] in finance. Suppose there is an investment company [A] with assets of 3 billion. It uses these 3 billion assets as collateral to borrow 90 billion for investment. If it makes a profit of 5%, it can obtain The profit is 4.5 billion. In this way, Company [A] will obtain a huge profit of 150% of the original assets. On the contrary, if the investment fails and loses 5%, then Company [A] will not only lose all its assets, but also bear the burden of 1.5 billion in debt. This behavior is just like the principle of leverage. In order to earn dozens of times huge profits, you use a small amount to make a big gain. If you succeed, you will make a huge profit, but if you fail, you will lose everything."
"Next, due to the high risk of leverage operations, an insurance contract called CDS (i.e., credit default swap, also known as loan default insurance) was derived in the market. For example, [A] company just gave an example, [A] In order to avoid leverage risks, the company found another company or bank, which we will call [B]. [A] hoped that [B] could help with default insurance, and [A] paid [B] an insurance premium of 5,000 per year. million, a total of 500 million for 10 consecutive years.¡±
"For [A], if the investment is successful and the insurance premium is deducted, there will still be a profit of 4 billion. If the investment fails, the compensation will be borne by [B]. According to statistics, just like other ordinary insurance, this kind of insurance The usual default rate is less than 1%. For [B], if it takes 100 identical insurances in a row, even if 1 or 2 companies default, company [B] can still get 40 billion in income."
"After [B] completed this business, it immediately attracted the jealous [C]. [C] took over all the contracts from [B] at a price of 200 million, a total of 20 billion. For [B] ] can immediately obtain a profit of 20 billion without taking any risks, and [C] changed hands and put these 100 contracts out at a price of 2 billion higher than his bid, which is 22 billion. Then it attracted another [D]. Think about it! Even if 22 billion is subtracted from the total profit of 50 billion, there is still 28 billion to be earned, so [D] immediately bought it from [C], and [C] made a net profit of 20 100 million."
Having said this, Kamiyu showed a sarcastic smile.
¡°As a result, the booming CDS (loan default insurance) market was born.¡±
"But, in the final analysis, such a market is just a group of people playing numbers games. In fact, there was never so much money from the beginning. So, where did these virtual funds come from?"
Camillo¡¯s rhetorical question made Euphemia frown and think hard.
"So, subprime loans (subprime mortgages) appeared." However, Camillo did not trouble Euphemia for long.
"These subprime lenders are the lowest level of ordinary investors. They are at A, B, C, D well since they are at the bottom, let's use Z to represent these ordinary investments. Go ahead." Kamyu pondered for a while and then continued.
"Just like real estate sales, these [Z] people saw that housing prices were rising, so they mortgaged all their assets, took out loans to buy investment properties, and waited for housing prices to rise before selling them to others. But the interest on the loans is not a small amount. So [Z] mortgaged the investment house to the bank, used the borrowed money to pay interest, continued to buy houses, and continued to take out loans This formed a vicious cycle similar to paying off credit cards with credit cards, and using the borrowed money to pay off the things. The bubble will eventually burst, and finally the subprime mortgage crisis occurred"
¡°Subprime mortgage crisis?¡±
"When the price rose to an unacceptable level, no one finally took over. But the high interest rates would not stop, so the banks began to confiscate the properties of those [Z] who could not pay the interest. And At the same time, although they have been transferred countless times, which makes people feel that these contracts are far away from the original contracts at [A], they are actually the same thing. Therefore, a breach of contract occurred."
?"Except for [Company A], other companies that have changed hands on the contract are irrelevant, because the responsibility has long been irrelevant to them. But there are always unlucky guys, so unfortunately, I just spent 30 billion to buy [F], who had not had time to resell these 100 contracts, became a victim. There were 10 or more defaults among the 100 contracts in his hands. Each default required an insurance premium of 5 billion, at least 50 billion. Coupled with the 30 billion acquisition fee spent to purchase these 100 contracts, the total loss reached more than 80 billion. Very few institutions in the world can afford such a large loss, so [F] had to declare bankruptcy."
"The chain reaction of [F]'s bankruptcy began. Because of [F]'s bankruptcy, not only did the 500 million insurance premiums paid by [A] go to waste, but it also had no one to pay liquidated damages for itself. Before As has been said, [A] is investing based on the leverage principle, so [A] is also facing bankruptcy due to its inability to repay huge debts. To make matters worse, more than 10 out of 100 companies have defaulted, which means that more than 10 companies have defaulted. More than 10 companies like [A] are facing the same situation."
After saying that, Kamyu looked at Euphemia¡¯s thinking expression with interest.
"Yuffie, EU is a country where finance capitalists dominate politics. Capitalists have a very strong influence on society and conquest. You should have experienced and seen this with your own eyes, right?"
Euphemia nodded immediately after hearing this.
¡°So, these [A] companies went to the EU Finance Minister, MPs and Speakers and lobbied them: [F] must not be allowed to go bankrupt, because then everyone will be ruined. What is the solution? ? That is to nationalize [F], and then all the insurance funds from A1 to A10 will be paid for by the EU government with EU taxpayers¡¯ money.¡±
"But, even so. Shouldn't the EU's debt be so high?" Euphemia quickly calculated in her mind and found that compared to the national finance, tens of billions or even hundreds of billions should not be too serious. That¡¯s the right question.
"HeheheI just took a simple value as an example." Kami smiled at Euphemia's innocence. "Euphemia, do you know what the market value of EU's CDS market is?"
"This" When asked, Euphemia shook her head blankly, and at the same time, a thought arose in her heart, whether she was really too naive.
"The current market value of the CDS market is 62" Camiyu suddenly paused, deliberately gestured his mouth slowly, and said it with an accentuated voice.
"Ten thousand! Billion!"
Euphemia, who was once a princess of a country and the majestic third princess of the Bunitania Empire, only felt dizzy.
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Sorry, this rare update has written so many boring things. I really don¡¯t want to say that I am cheating on the word count, but I do have suspicions - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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