Some people were scapegoated, and some died for it, but that doesn't mean it's the end of the matter.
Syngman Rhee, who launched the "8.21 coup" and ousted Li Kuang and Li Kuan, immediately announced the establishment of a "high stick interim government", with himself as the interim president.
And he also knows very clearly that the Chinese want much more than this.
The Gaobang people did not show any extreme reaction to the resignation of Li Kuang and the Li Ku brothers, and the overthrow of the "Gaobang Kingdom" once again. In their view, such a "kingdom" should be overthrown.
Subsequently, there was a saying that had appeared countless times before the appearance of the high stick:
"Let the Chinese run this country!"
This theory spread more and more widely in Gaobang. And Rhee also knew very clearly who was planning it behind the scenes.
I have only one choice:
Help the Chinese complete this magnificent project...
The merger of Gaobang is proceeding quietly...
...
On August 2, 1927, President Coolidge announced that he would not run for re-election. Many politicians wanted Hoover as their presidential candidate.
In February 1928, at the Republican National Convention in Kansas City, Missouri, Hoover was overwhelmingly nominated in the first round of voting to run for president.
In the 1928 election, Hoover only gave seven speeches, advocating individualism and equal opportunities, and taking the "American system" of voluntary cooperation among all social classes as his goal. In terms of specific policy measures, he emphasized special prosperity.
For a period of time after the First World War, capitalism was in a "relatively stable" period. The United States relied on the huge profits made from the war to develop rapidly. At this stage, the Republican Party was also in power, and people can easily regard this stage as "relatively stable".
"Prosperity" is associated with the Republican Party. Therefore, Hoover, as the Republican candidate, gained momentum in the election without much effort, defeating the Democratic candidate Smith by a large margin. The voting results, Hoover won 444 electoral votes to 87 electoral votes.
He was elected by defeating his opponents.
Hoover became the first president born west of the Mississippi River. Hoover was elected as a representative of industrial efficiency. He believed that he had the conditions to lead the country to special prosperity. The Wall Street Journal said when celebrating Hoover's inauguration
: "The government has never been as involved with business as it is today. There is no doubt that Hoover is a very dynamic business president, and he will be the first business president in the United States." Since the United States is in the unprecedented "Coolidge Boom", Canada
Republicans held the majority in Congress, and Hoover entered the White House in a peaceful environment.
In the early days of his administration, Hoover talked ecstatically about how the U.S. economic system was "perfect" and boasted that "the United States is closer to the final victory over poverty than any country in its history."
In fact, the U.S. economy is already in crisis and is about to be in catastrophe...
United States of America, Wall Street.
Wall Street is very small, a small street no more than 500 meters long. Its easternmost edge is the East River in New York, and its westernmost edge is Trinity Church and a cemetery. The first Treasury Secretary of the United States, Hamilton, who single-handedly cultivated the growth of Wall Street, is buried there.
this.
The English name of Wall Street comes from a wooden fence built by Dutch immigrants who settled in New York in the early years to resist the British invasion.
Wall Street originated in 1653, when New York was still a Dutch colony called New Amsterdam. In the 17th century, the Netherlands had formed a very complete financial system, including banks, stock exchanges, credit, insurance, limited liability companies, etc. At that time
When the Dutch immigrated to New Amsterdam, they brought the capitalist business spirit with them.
Later, the British captured New Amsterdam and renamed it New Yorkshire in honor of the Duke of York, the younger brother of King Charles II of England.
In 1776, the United States was officially founded. In order to rebuild its homeland and develop the economy on the ruins of the war, Hamilton issued a large number of new treasury bonds, which suddenly added many tradable varieties to the New York market. The market expanded rapidly, and soon the current bonds appeared.
The predecessor of the New York Stock Exchange - New York Stock Exchange Commission!
Due to the surge in trading volume, people not only trade inside the exchange, but also trade on the roadside outside the exchange. This is the so-called over-the-counter trading. Brokers who trade over-the-counter can stand at the door of the exchange and listen to the trading.
Quotes to obtain the latest information without paying membership fees. In order to prevent this from happening, and to prevent brokers from vicious competition in trading commissions, in 1792, brokers gathered together and agreed with each other to ensure that they provide customers with
When providing securities trading services, a commission of no less than 0.25% is charged.
This is the "Sycamore Agreement."
This agreement is completely an industry self-regulatory act and is essentially a price alliance for brokers. It does not have legal effect, but it will be strictly observed once signed.
It is precisely because everyone abides by the rules of the game that the game can continue to be played.
The signing of the "Sycamore Agreement" marked the official start of Wall Street...
From the late 19th century to the early 20th century, American heavy industry rose rapidly, surpassing the combined steel production of all European countries in just a few decades. Heavy industrialization was inseparable from Wall Street, and Wall Street also rapidly expanded itself in the process of financing heavy industrialization in the United States.
scale and impact.
A popular Wall Street joke at the time illustrates the important position of Wall Street bankers in the process of heavy industrialization in the United States: The teacher asked the students who created the world, and one student replied, "God created the world in 4004 BC. In 1901
, the world has been reorganized by Mr. Morgan again."
This refers to J.P. Morgan's reorganization of U.S. Steel in 1901. The total scale of the reorganization reached US$1.4 billion, equivalent to 7% of the U.S. GDP at the time, which was an astronomical figure at the time.
Another major impact on the development of Wall Street at this stage was the outbreak of World War I in 1914. The United States was undoubtedly the biggest beneficiary of this war on the other side of the ocean, both in its real economy and its virtual economy.
Has developed rapidly.
After the war, the U.S. stock market entered a crazy bull market. In the 1920s, the Dow Jones Index rose for 8 consecutive years, with a cumulative increase of 50%.
The full name of Dow Jones is the Dow Jones Price Average. Dow Jones is the name of two people, one named Charles Henry Dow and the other named Edward Davis Jones. They formed the company in November 1882.
At that time, there was another collaborator named Charles Milford Bergstrisser. They did not want the company name to be too long, so Bergstrether lost the opportunity to be famous in history. On July 3, 1884, they launched
An index that includes eleven stocks to track the market. Because it can more fully and objectively reflect the dynamics of the entire stock market, it is often used as a barometer to observe changes in the world market. At the same time, it is also a historical indicator of the hundreds of years of the U.S. economy.
Witness that although it is also undergoing important changes, people still regard it as a symbol of the traditional American economy.
In 1929, a disastrous year came for the United States and Europe...
Prior to this, Wang Hengyue, the President of the Republic of China, ordered his staff in the United States to withdraw large amounts of funds from the stock market and all levels of the market. No one knew why. At least, the U.S. stock market was in a crazy bull market at that time.
middle......
Wang Hengyue knew very well that a terrible stock market crash was about to come to the United States...
In 1929, when the Federal Reserve was just established, it lacked the ability to judge and contain the stock market bubble, so it did not adopt measures such as adjusting interest rates to curb excessive speculation.
Another factor that adds fuel to the fire is the 10% margin system, which means you only need to pay $10 to buy $100 of stock. In a soaring bull market, this is a very attractive institutional arrangement, which further stimulates
The speculative nature of the stock market.
The Fed lends to Fed member banks at an interest rate of 5%, the banks lend to those brokers at an interest rate of 12%, the brokers lend to speculators at an interest rate of 20%, and investors hope to get much more than 20% from the stock market.
% return. Such a gradually enlarging capital chain breeds huge risks.
Just like that, 1929 quietly arrived, and Wall Street was filled with prosperity and optimism.
Thursday, October 24, 1929!
George, the chief securities analyst of Chase Bank, drove to Wall Street ten minutes early as usual. As usual, the street entrance was filled with tourists from all over the world. They looked at every securities analyst who entered Wall Street with almost adoration and responded enthusiastically.
of applause.
George sat in his office, and his assistant made him a cup of fragrant and strong coffee, and joked: "Mr. George, Meili who drove the elevator this morning told me that there is still room for the stock price of General Motors to rise."
"You should advise her to buy a steel company," George said equally easily: "I will hold a large amount of it and guide customers to buy..."
"More than $260 per share is a bit expensive for her."
"The larger the base, the more you earn. I am optimistic that it will rise to 350 US dollars. The era of the great bull market has just begun. Even Fisher said so."
Irving Fisher, a professor at Yale University and the most innovative economist of his era, delivered a famous speech on October 15, 1929. He pointed out: "The stock market has risen to a fairly stable state. I expect the stock market to
In a few months, new highs will be reached and volumes will be even better than they are now."
His lifelong reputation was wiped clean by just one sentence.
This day will become an unforgettable day for Americans and Europeans in their lifetime!