In short, it seems that Gao Xian's personal relationship with Greenspan did not appear to be alienated such as avoiding suspicion and conflict because the other party became the chairman of the Federal Reserve who was important in position and sensitive to identity.

After the conversation was very happy, the two of them went their separate ways. Greenspan had to deal with Wall Street, the Senate, the White House, and the media. There was an adaptation stage, and some small episodes appeared.

For example, about a week after taking office as Fed chairman, Greenspan participated in a heavyweight political commentary program called "This Week with David Brinkley" by the US Broadcasting Corporation, which is the same type that was broadcast on Sunday.

Longevity programs - NBC's "Meet the Media" and CBS's "Facing the Country" are competitive relationships in the competition, and social influence can be imagined.

"This Week" created by David Brinkley has some of its own characteristics, such as the form of a roundtable meeting, which means that there is no centered and the right hand respects the master and subordinate, which is easy to make

The invited guests let go of their guard, and coupled with the superb speech of a big-name host like David Brinkley, Greenspan's habit of scholar-type officials who like to tell the truth, it made a fuss.

In response to "Will there be higher inflation in the future?" Greenspan replied that there is no evidence that inflation will rise, but if everyone thinks that inflation will definitely happen, then what they have done about it

Action will lead to inflation. The Federal Reserve is the only guardian to resist inflation.

Speaking often "but" is the focus of the latter. A passage that Greenspan thought was very simple gave people a feeling that he all implied that the Federal Reserve was indeed weak and powerless, and was unable to resist the upcoming inflation.

So, the capital market responded immediately, bond yields rose and stock prices fell.

The storm comes from the scene, and it gives people the feeling that they are so awesome that they can't be more awesome, but judging from the level of the Federal Reserve Chairman is too superficial and too dereliction of duty. When you really need to give a blow to the outside world and send a signal, you can't reach it.

When you have real intentions, it is equivalent to sacking a powerful weapon.

Greenspan's intestines were regretful. When he was talking to Sir Gao, who had not left the United States, he swears that I will never participate in such conversation programs again in the future.

Gao Xian could naturally taste that Greenspan was seeking lessons from a quasi-central bank president like himself.

"Doing with the media is definitely a must-have job." Sir Gao said slowly and quietly: "After I served as the president of the Xiangjiang Foreign Exchange Fund Administration, I basically only had dialogues with reporters with considerable influence and ensured the content of the conversation.

It is not recorded in writing, nor can it be let the outside world know that it comes from its own words."

"In this way, side effects are minimized when using the media tool to exert macro-policy influence."

Greenspan nodded thoughtfully, and then couldn't help but sighed in annoyance.

In Gao Xian's view, Greenspan, the new Fed chairman's adaptation period, especially the buffer period necessary to establish prestige in the international community, must be indispensable, and has become one of the active variables that drive the occurrence of large shocks.

Greenspan couldn't omit this step because he was transferred from a business position in economic consulting to the Federal Reserve Chairman, while his former Paul Volker was transferred from the Fed's best member, the chairman of the Federal Reserve in New York.

Chairman, bankers are obviously smoother than economic experts to "turn around", for example, they have long had a certain prestige internationally.

In any case, the Federal Reserve, chaired by Greenspan, has made the high string more traceable in terms of variable analysis.

After congratulations to Greenspan as chairman of the Federal Reserve, Gao Xian continued to stay in the United States, mainly to consolidate the interests of the Gao family's business kingdom, and not to be damaged by the shock that is likely to occur next. This is his entry.

A foundation that can attack and retreat and defend.

It is obvious that the focus of high-string preventing major risks is on the Gaoyi Group, the Gaoyi Group, the United States Group, and the Lehman Brothers Group, which are located at the forefront of the capital market.

There are also differences between the three. For example, the Lehman Brothers, they basically let go of the game, and Gao Xian didn't care much.

After all, the game in the capital circle is often a zero-sum game that compares IQ and has rich interests, and is indispensable for elements such as creativity, high risk, wolf nature, profit-oriented, etc. Wall Street genes have been deeply engraved in the Lehman Brothers series.

In the bones, it is not cost-effective to transform it with all your might, and there is no need to let it stand at the forefront and play the role of a slut; and it is created from scratch by Gao Xian, a true treasure of Gao Yi.

,Goyi and the United States are moving forward steadily behind.

To put it bluntly, someone always has to do dirty work. When it is hopeless, it will be done according to the rules of the game on Wall Street.

Businesses that can make Gaoxin tighten their nerves must also be targeted, mainly investments related to stocks such as funds.

Try to put it simply, at this time, this mechanism has been established, and investment portfolios, and hedging risks, but there are great differences in specific implementation.

For example, in order to offset short risks, the mechanism and cumbersome trading with the "opponent trading" are more complex and the links are complicated. The market maker chamber of commerce is very demanding in margins and other aspects.

Therefore, many funds set a risk line after holding their own securities, and once they cross the line, the computer program will automatically sell it.

But if everyone is selling in a concentrated manner, who will buy it? And all fund customers still ask for redemption immediately, wouldn’t it become a desperate situation like a bank run?

Gao Xian's inspection includes such hedging risk mechanisms to prevent what he thought was foolproof in extreme cases but it was a huge disaster.

Gao Yi Group and Gao Yi Group of the United States do not reject this internal pressure on management. First, the enterprising and stable work style created by Gao Xian himself also formed a corporate culture; second, it spreads.

The argument that "there will be a major adjustment soon" has indeed played a vigilant effect.

What's more, the adjustment of the US stock market did come as scheduled, but it was not the "adjustment" like the Wall Street stock market crash in 1929.

In the sentiment of "there will be a major adjustment soon", such as bond interest rates continue to rise, the huge deficit in the United States' international trade, the threat of US dollar depreciation, and the attack on the ship station started by the Iraq-Iraq War became fierce.

Even the tanker flying the American flag was hit by missiles in the Persian Gulf... and news came one after another. After reaching a new high of 2,724, the Dow Jones Index was no longer like before, after falling a little.

It rises again, but enters an overall downward trend.

Seeing this scene, the most common reaction from the outside world was that after a long breath, the unsettling crazy rise finally stopped. The stock market pullback is a great thing, countless times stronger than a stock market crash!

So, many advanced players, such as Soros, began to actively make arrangements.
Chapter completed!