The riotous operation of the Berlin government stunned the whole European world.

For the bourgeoisie, it was a blow to the head. Prussia can play like this, and other countries can naturally follow suit, this is simply a sword hanging over everyone's heads.

Public opinion was full of criticism, but it had no effect. Since it dared to overturn the table, the Berlin government was naturally not afraid of being scolded.

Prussia's approach caused not only heavy losses to the capitalists at home, but also to the wails of overseas investors.

Since the news spread, the number of people in Frankfurt who wanted to jump off the building has increased a lot.

Including Flores, who is a little famous, accidentally took the plate because of an error in information and was hesitating to go to the rooftop.

Fortunately, after the end of the Russo-Prussian War, the stocks of all Prussian companies fell to the bottom, and they were themselves in a state of lock-in.

As long as you don't run long stupidly, the pick-up is also a low-level pick-up, and the loss is not too serious.

The Berlin government only confiscated the shares of criminals, and theoretically, the shares held by overseas investors were still valid.

This is also the main reason why the Great Powers did not intervene, and although the Berlin government's methods were a little excessive, it was still dealing with internal affairs.

The most important thing is that the established facts have been created, and interfering will only make things more troublesome and increase everyone's losses.

As long as the business is running, there is value in stocks. It is nothing more than the change of major shareholder to the Berlin government, which makes the investment prospects uncertain.

……

Vienna Palace

"Your Majesty, the situation has changed. Prussia's approach is likely to trigger a chain reaction. If the French follow suit, our plan will hardly succeed. Chancellor of the Exchequer Karl was worried

The sudden change was also a huge blow to the short-selling plan of the British and Austrian francs.

Prussia could flip the table, and the French could do the same. Maybe the Paris government doesn't dare to learn all about it, as long as there is a financial regulation, it will be enough for everyone.

Franz shook his head: "This is different, the Berlin government is forced to have no choice, there is no way back but to give it a go."

Where is the size of France, we will at most suppress the value of the franc, and make a profit by the way, or their lives, the Paris government will not be so extreme.

If the Paris government really wants to regulate finances, it will do us a great favor. Prussia is a ready-made example, and the value of the mark has completely collapsed.

Maybe we will lose money this time in speculation, but the franc will withdraw from the international market, and this part of the share will be enough to make up for our losses. ”

For monetary hegemony, Britain, France and Austria fought for many years. Despite the fact that France is out, the franc still occupies a significant share of the international market.

In the era of the gold standard, the larger the economy, the greater the demand for gold.

France's economy is large, but its gold production is too limited to meet growing demand, and the reserves for issuing francs have always been insufficient, and there are security risks in the financial markets.

In recent years, international travel has been frequented by international tourists. It's just that the scale is not very large, and even if there are gains, it can't shake the status of the franc.

The interests are moving, and after speculators have tasted the sweetness, they naturally want to make greater profits.

This time the British and Austrian capital teamed up, it seems that Franz is secretly promoting, but in fact this is just an introduction. Even without this introduction, it will happen sooner or later.

Of course, this introduction is still very important, without the participation of the government, even if the capitalists act, they would not have such a large scale.

In essence, the French were suppressed by Britain and Austria because of the cheese of the two countries.

The Paris government's African development plan is too hateful. In recent years, the textile industry in France has developed rapidly and has seized many markets for the British.

It was already a pain in the flesh of the British, and cotton planting was put first in the African development plan, so how could John Bull endure it?

In parallel with the cultivation of cotton, the French are also preparing to promote new agricultural technologies in North Africa and expand the area under agricultural cultivation in North Africa, which in turn has boosted Austrian cheese.

In this context, if it is not suppressed by Britain and Austria, it will be problematic.

In contrast, the competition for the international market share of the franc is relatively secondary, and it is mainly of interest to people in the financial community.

After a momentary pause, Franz added: "The project has progressed to this point, and it is no longer possible to withdraw if you want to.

I don't know much about financial matters, so I'll leave it to the person who changed jobs to take care of it.

At present, according to the plan, we will increase the dumping of France and deplete their foreign exchange reserves as much as possible. ”

……

On November 11, 1881, the Berlin Stock Exchange was in full swing due to the special policies of the Berlin government.

The halving is a good performance, many stocks are only two or three folds, and the market value of some stocks is not even 10% of the original.

The net assets of some companies are several times higher than the market value, and the typical market value is inverted.

This is all normal, assets are not equal to cash. During a stock market crash, asset shrinkage is inevitable. In order to raise money to tide over the storm, there are not too many tearful sales.

With the development of free trade, the economic ties of various countries are getting closer and closer. When Prussia broke out in the stock market crash, other countries should not want to be left alone.

Naturally, the first to be hit were Frankfurt and London. The former held out for less than three days before the whole line collapsed; The latter was supported in less than five days, and it followed in the footsteps.

Pandora's box was opened, and the stock market crash soon spread to the entire European continent, and the stock markets of various countries were wailing.

In less than a week, Vienna's stock market fell by 10 percent, the lowest in five years.

Both Britain and Austria have had stock market crashes, and France is no exception.

In Paris, angry stockholders set the stock exchange on fire, but fortunately the staff arrived in time to extinguish the fire.

At the Palace of Versailles, before Napoleon IV recovered from the stock market crash, the Minister of Economy, Elsa, hurriedly ran in.

"Your Majesty, it's not a good thing. Hundreds of banks, including BNP Paribas, Banque de France, and Reichsbank, were run on at the same time, and the situation was very critical.

Many people are holding certificates of deposit, specifying that they should be exchanged for pounds sterling and Aegis, and our foreign exchange reserves are shrinking dramatically.

It is certain that someone is going to make a short franc. This is just the beginning, and the enemy will attack later. ”

Hearing this bad news, a word instantly popped into Napoleon IV's mind - "financial turmoil", paused and hurriedly asked: "Do you know who is manipulating?" ”

Economic Secretary Elsa replied: "There are a lot of participants, and almost all of the world's top banks and securities companies have appeared, and it can be roughly judged that the main force is Anglo-Austrian Capital."

The enemy's forces are very strong, and according to the information we have gathered, it is initially estimated that they may hold 3 billion ~ 5 billion francs in their hands. ”

"3 billion ~ 5 billion francs" seems to be nothing to a big country like France, and it is only the financial revenue of the French government for a year.

However, this is cash and not an asset. In the financial market, such a huge sum of money can leverage tens of billions of international funds and impact the French financial market.

Napoleon IV was shocked and said: "The enemy has raised so much money, is it not that our financial sector knows nothing?" ”

Because Aegis and the British pound are both international settlement currencies, the foreign exchange reserves of Britain and Austria are relatively low, and they simply cannot come up with so many francs.

The total amount of francs in circulation in the international market is actually billions. This means that the funds to initiate the run can only come from within France.

Economy Minister Elsa replied in a low voice: "Some time ago, several large banks in China issued large loans overseas, all of which were ordinary commercial projects and did not attract everyone's attention. ”

This is determined by the system, and it is the freedom of the people to issue loans by banks, and the French government has no right to interfere at all.

Since you can't manage it, you naturally don't pay attention to it. In any case, the bank is responsible for the profit and loss, and the government does not need to pay for it.

Napoleon IV wanted to speak again and again, knowing that there was nothing he could do about this run with the participation of domestic consortiums.

If it had not been for the recent actions of the Berlin government that frightened the bourgeoisie, French capital would have been indispensable in the army of short-selling francs.

Now that everyone is invisible, it is already very face-saving for the government. You can't let everyone not make money, right?

After pondering for a while, Napoleon IV asked, "How are you going to deal with this crisis?" ”

Economy Minister Elsa: "Unlike in the past, this time the enemy is menacing, and it will definitely not be just to take advantage of it.

……”