Life at the Top

Many people were aware of the subprime mortgage crisis, but their impression of it rested only on the simple concept that the financial tsunami had caused the economy to decline, with the most famous resulting event in it being that Layman Investment Bank, one of the big four US banks, was forced to shut down.

However, Jasper knew that the actual core problem of the subprime mortgage crisis was the subprime loan credit crisis.

In order to stimulate national consumption and maintain its own strength as the world’s largest country, the United States had implemented monetary quantitative easing policies for a long time.

However, this monetary quantitative easing policy was not the same as that of Sunrise Land.

It was essentially the United States printing banknotes for domestic welfare and relief of the government’s own debt. Furthermore, this process had gone on for decades.

If it was some other country trying this, the place would have been long gone from history.

However, it was a different case for the United States. The dominance of global finance and military politics allowed the United States to build a core system, which was the USD settlement system.

Its full academic name was the Bretton Woods system, which was the core system of global USD adoption.

It would be hard to describe in detail, but the crux of it was to make the USD a global currency whilst ensuring the printing power would still be in the hands of the American Federal Reserve Central Bank.

States’ monetary easing policy had made all countries in the world that supported USD settlement pay for the

had played this game for decades, and

people from

world pay

so, this was

easing policy resulted in an excess supply of

money to inevitably find

hot money would go to two places, the stock market and real

as you were an US citizen, you would not need to do any asset and credit checks at all when you purchased a house with a loan.

in order to give investors a decent report, the bank never refused

real estate industry was completely hot, in exchange for a

example, for a loan of 1 million USD, the bank had to wait 10 years before collecting the principal and interest of 1.5 million

investors were unwilling to wait so long, so the bank packaged this batch of loans and sold it to a credit company at a price of 1.3 million USD. After the credit company bought this batch of loans, they repackaged them and put them

million 100,000 USD was divided into 15 shares. After the credit company earned 200,000 USD, the loan would then

subscribable asset,