Reborn in America, I'm serious about making money.

To everyone's surprise, after his old almanac was exposed, he would actually lose several necklaces. Zhang San sighed. What could he do? He had to make himself like these necklaces too.

Although Zhou Yunu didn't say anything, seeing her unhappy expression, Zhang San still took out a red necklace and gave it to her.

"The ruby ​​in the center is over fifty carats, so you shouldn't wear it out normally. The ring above it is made up of 108 identical yellow diamonds, which are also over forty carats. Some of them are scraps from the central yellow diamond, and some are cut from other smaller yellow diamonds. This whole string is worth tens of millions of US dollars."

Although Zhang San was also a little reluctant, he still sent it away.

Women and dragons share a common love for sparkly things, and Zhou Yunu is no exception.

After calming the woman down, Fang Xiaobing and the other two women who had come with her arrived in Hong Kong. Zhang San had called them over; on the phone, they had begged him for over ten minutes before he finally agreed to send three at once. He naturally still had plenty in stock.

"Hehe... You should thank me, I got you a treasure, this thing is better than money. If we wear it to any event, it will definitely attract attention."

"We know how good you are, and we will remember it."

Three cars drove into the hilltop villa, where Zhang San was already waiting for them. After the housekeeper led them in, Fang Xiaobing sat directly in his lap.

The two of them cuddled together for a while in front of the other two women before Zhang San picked them up, put them aside, and said, "You can choose one."

On the coffee table in front of Zhang San were three jewelry boxes, and it was obvious what was inside.

Fang Xiaobing quickly opened the three boxes and looked inside. Inside were three diamond necklaces, with the large diamond in the middle surrounded by smaller diamonds like stars around the moon.

These three diamond necklaces come in three colors: blue, yellow, and white. As for the pink and red ones, Zhang San doesn't intend to give them away; he plans to keep them as family heirlooms.

"Wow, so beautiful..."

Although Wang Shengyi was relatively rational, she was still moved. There were probably only a handful of these things in the entire world, but these in front of her must be top-quality.

Gao Yuanyuan's eyes lit up as she watched...

Zhang San said, "You guys choose, I still have some things to do."

As for how they choose, that's not Zhang San's concern. He has some things to take care of, and the cause of the matter is related to the financial industry.

The New Era Financial Group in North America and the Overseas Financial Group in Hong Kong have a lot to deal with and need to clean things up before 2007.

This is called nipping danger in the bud, which perfectly describes the current situation.

Amid the global real estate boom, housing prices have soared. Not only in North America, but also globally, influenced by the Federal Reserve's earlier interest rate cut cycle, the real estate market has ushered in a spring, with property prices rising worldwide.

In this situation, North America is even more formidable.

At this moment, many American investors believe that housing prices will only ever rise, and that the dollar will always be a globally accepted currency. Years of experience have taught these American investors the theories that "land will continue to appreciate" and "housing prices in prime locations will always remain strong."

They believe that buying a house is the most secure investment besides stocks, and they even hope to change their lives by buying a house. This is understandable; they believe what research firms and Wall Street analysts say, and even more so, what the media says.

On the other hand, the interest rates for "subprime loans" are much higher than those for ordinary loans. Why? Of course, it's because "subprime" means "inferior" or even "significantly inferior." Creditworthiness is not guaranteed, so the interest rates are higher; the greater the risk, the greater the reward.

Meanwhile, North American banks were also happy to engage in "subprime lending." Through investigation, Zhang San discovered that current mortgage requirements were outrageously low; even a recent college graduate could get a loan to buy a house, wait for prices to rise, sell it for cash, and then easily earn hundreds of thousands of dollars.

The money came too quickly, causing them to gradually lose themselves and become worshippers of money. Why bother looking for a job then? Real estate speculation is the way to go; it brings in huge profits.

Zhang San also saw data from some special channels, showing that North American banks were even willing to lend to "three-no" people (those from South America) who had no stable income, no stable job, and no collateral.

Are these people not worried at all that these people with no money, no property, and no income might be unable to repay their debts and abandon their homes and default on their mortgages?

Looking closer, Zhang San understood how they played.

Because North American banks have already transferred these risks to others. North America's commercial development has reached an abnormal level; they can shift risks to others through bond or loan financialization, and then package and sell them to others.

These mortgage loans were packaged into financial bonds and then sold to Fannie Mae and Freddie Mac, the two companies in North America, which are known as North American "state-owned enterprises." The banks themselves have long since recovered the cash.

Of course, Fannie Mae and Freddie Mac couldn't possibly pay for all of this themselves, so they repackaged the subprime mortgages into government bonds and sold them to investment institutions. This whole game of musical chairs was a leveraged operation that inflated the market bubble.

Zhang San had a guess, based on the perspective of later generations, that in the early days, around 2006, some institutions on Wall Street, especially the big investment banks, had already sensed that these "subprime mortgages" were already risky, and that the risk was so great that they simply could not afford it. In order to reduce their own risk, they sold these packaged "subprime mortgages" to other countries around the world.

This is what it means to enjoy blessings when they come, and share the burden of difficulties with the world.

The risks are easy to see from this process. For example, a house costs only $300,000. The buyer pays a down payment of $50,000 and takes out a bank loan for the remaining $250,000 to buy the house.

Given the appreciation rate in North America at that time, the house would have appreciated to $400,000 the following year. The homeowner would have earned interest and even made a profit. In such a situation, why wouldn't the homeowner sell the house and get tens of thousands of dollars?

Meanwhile, the banks simply inflated the appraised value of similar properties to $500,000, allowing buyers to "buy a house with zero down payment." The banks then packaged this $500,000 loan, including interest and other fees, into a $600,000 loan and sold it to Fannie Mae and Freddie Mac, effectively paying nothing. Fannie Mae and Freddie Mac then repackaged this $600,000 loan into $800,000 bonds and sold them to investment institutions. These institutions then capitalized on the global housing boom, marketing these bonds to overseas investors who believed housing prices would continue to rise, especially in North America, and purchased them.

Through this layered leverage, homebuyers didn't spend money, banks didn't spend money, and Fannie Mae and Freddie Mac didn't spend money; all the money came from financial institutions.

Who ultimately loses out? Of course, it's the homebuyers who missed out on the opportunity, and also the countries outside North America that foot the bill for their risks.

Zhang San's goal is to eliminate these potential risks and have New Era Finance and overseas banks conduct a thorough investigation.