What kind of company is Goldman Sachs? Why is there a shadow of Goldman Sachs in every economic crisis?

When it comes to war, many people think that it is far away from us, but in fact, some wars are very close to us, such as financial wars. Financial wars are known as wars without gunpowder smoke. The game of several financial giants may Bringing down a country's economy directly does not cause less trauma than a real sword. If you understand the history of the world's financial development, you will understand that financial wars are being staged almost all the time, and among them there is a Enterprises, which have gradually entered the public's perspective in the past few years, are Goldman Sachs Group, a financial giant on Wall Street in the United States.

Goldman Sachs Group is a leading international investment bank that provides a wide range of investment consulting and financial services to the world. Its customers include private companies, financial enterprises, government agencies and individuals. It is one of the oldest and largest investment banks in the world. The economic layout is global, with 41 offices in 23 more developed countries in the world. There is no doubt that its strength is enough to influence the global economy, and capital has always pursued profit for the sake of profit. Even financial giants will have some inconsistencies. Brilliant things happen, so today we will talk about what role Goldman Sachs played behind every financial crisis.

After the 1990s, the Western investment banking business began to take shape, and Goldman Sachs was founded by German immigrant Marcus Gold in 1869, but at that time Goldman Sachs was engaged in commercial paper transactions, not investment. The bank did not become a true investment bank until after it joined the New York Stock Exchange in 1896, when Goldman Sachs went public

Before 1970, in fact, Goldman Sachs was stumbling and did not make any particularly outstanding achievements. Until after the 1970s, when there was a wave of "hostile takeovers" in the market, Goldman Sachs saw business opportunities and took the lead in "reverse". The banner of "Acquisition Advisor", for those companies that have suffered hostile takeovers, against sniping hostile takeovers, which has accumulated a good reputation for Goldman Sachs, at that time Goldman Sachs was known as the industry angel, a model bank in the American banking industry.

After that, Goldman Sachs Group seized the opportunity to develop rapidly and began to enter new fields such as foreign exchange trading, coffee trading and precious metal trading. After years of layout, Goldman Sachs Group finally became one of the top ten financial giants on Wall Street in the United States. What Goldman Sachs does is increasingly pursuing interests, and even frequently appears in economic crises around the world, eventually becoming one of the most powerful financial weapons in the United States.

As a century-old company, it is difficult to tell what Goldman Sachs has done. Therefore, today we will pick three things. The first is the "fraud door" incident. In 2007, Goldman Sachs sorted out the garbage mortgages in the United States. , and found ACA, an independent third party who has a full understanding of American real estate and the ability to analyze the value of RMB to participate in the issuance. After packaging these junk mortgages, they eventually became the safest investment products and sold them to their own customers, including German IKB. And ABN AMRO, but after selling the product, Goldman Sachs shorted the product again. What is shorting? In simple terms, it means that you think the product will drop in price, and then you sell it to the other party and open futures For a sell order, after the contract expires, the price of the goods drops, and you can earn a lot of benefits when you buy the spot and complete the delivery.

It sounds fair, but Goldman Sachs took the initiative to sell short, sell it to customers through packaging, deceit and concealment, etc., and arranged for the plummet of this product, which ultimately made investors lose all their money. The impact of this incident is quite large. Banks were forced to pay a large amount of indemnity because of the guarantee certificate, and eventually, under the financial crisis, they either closed down or were acquired.

The second example is the Vietnam crisis. This is one of the countries that suffered the most damage in the 2008 economic crisis, and Goldman Sachs has a shadow in it. In short, before 2007, Vietnam had already begun to emerge from the crisis. Goldman Sachs was Look closely, buy a large number of stocks in Vietnam, and invest in Vietnamese companies. Because of Goldman Sachs' investment, Vietnam's stock market and real estate have been soaring. However, in April 2018, Goldman Sachs began to short Vietnam again. The real estate plummeted, and a large number of shareholders lost all their capital. At the same time, compared with the plummeting stock market, Vietnam's inflation continued to rise, eventually soaring to a historical level of 25.2%, making Vietnam miss the first golden period of development.

The third event is also well-known, that is, the Greek debt crisis. The Greek debt crisis is actually a challenge to the euro area. The outbreak of the Greek crisis eventually led to the overall decline in the credit rating of the euro area and the decline in the position of the euro market. Goldman Sachs, the mastermind behind the scenes, must be one of them. Generally speaking, European countries that want to join the euro zone actually need to meet two conditions. One is that the fiscal deficit must not exceed 3%, and the other is that the debt issuance rate must not exceed 60% of GDP. %, but none of Greece complied with the regulations, so I found Goldman Sachs, Goldman Sachs designed a "currency futures trading" method for Greece, and finally deceived the audit department, allowing Greece to enter the euro zone and obtain a large number of loan.

Greece is also a unique country. Excessive development of welfare services has led to a rise in the fiscal deficit. Finally, the ratio of the fiscal deficit to GDP has risen from 4% to 12%, which has tripled. The Greek debt crisis was finally exposed under the global financial crisis, and the world's three major rating agencies adjusted its credit rating, which ultimately contributed to the decline of the euro's status.

And what is Goldman Sachs doing at this time? It used the "credit default swap" financial instrument to buy 1 billion euros in 20 years in Germany, tying Germany to the debt chain of Greece, which eventually led to the EU's dilemma. The EU had no choice but to issue another 300 billion debt to Greece to help Greece survive the crisis, but then similar situations occurred in Portugal, Italy and Spain.

Goldman Sachs is often known for its risk aversion, but what it avoids is its own risk. Capital itself is immoral, but it is undeniable that the strength of this group cannot be underestimated.