Life at The Top novel Chapter 1847

Under the huge economic pressure, speed

of response of the officials in Washington

of the United States was amazing.

Just three hours after the opening, when

the exchange rate of the US Dollar to gold

had fallen by 0.3%, the United States

Department of the Treasury issued an

announcement.

“Within the next 30 delivery cycles, the

United States Federal Reserve Treasury

will release more than 800 tons of

national reserve gold to stabilize the

current US Dollar to gold exchange rate,

which is currently experiencing huge

fluctuations.

“The overall interest rate of the 20-year

treasury bond that is about to mature has

been raised by 5%.

“In the 30 trading days before the

maturity of the treasury bond, the bonds

will enter a blockade period and will not be tradeable.”

These three provisional bills made Jasper

frown.

“The first and second ones are still normal economic control policies, but are they going to play dumb with the third one?”

Normally, countries would not use political power to influence the economy unless it was a last resort.

This was because it looked bad in terms of

moral standing.

Who would dare to engage in your

country’s financial market in the future if

there was such a precedent?

Your government would throw out new

policies at every turn and flip the table

without abiding by the rules. Who would

dare to risk this?

However, Jasper obviously forced the United States government to desperate measures, so they started to shed all pretense of cordiality and had flipped the table.

“Mr. Laine, what shall we do now?” Jake

asked

“The road to the national debt is blocked,

and a blockade order makes all operations

impossible. Withdraw.”

Jasper looked at the Nasdaq Index. Then, h

e pondered slightly and said, “Smash the

Nasdaq by 2000 points today.”

“Understand.”

Jake received the order and promptly left.

JW Capital’s massive funds instantly

withdrew from the treasury bond trading

market and entered the Nasdaq stock

index.

The stock index of a stock market was

calculated based on the proportion of a

certain number of large stocks in the

trading stock market.

In other words, to short the stock index,

what Jasper had to do was smash all these

big stocks.

Such a thing would be impossible during

normal times.

However, the collapse of the entire

financial market brought about by the

subprime mortgage crisis made the

impossible possible.

The first ones to bear the brunt of this

were those listed companies that did not