Donnie faced Henry Ford’s urgency with a sense of helplessness, realizing that while the automotive industry was indeed influenced, Venus Bank was impacted even more than Henry Ford.
This wasn’t due to General Motors and Cadillac’s size; more importantly, Europe’s currently major market for Arican cars is influenced by the Rothschild family.
If the Rothschild family had a list of adversaries, then Venus Bank would undoubtedly be at the top.
Especially as they entered 1930, the Rothschild family finally caught a slight breath amidst the European financial crisis and imdiately targeted Venus Bank’s business in Europe.
This caused considerable losses for Venus Bank!
"Mr. Ford, I’ve done my best, but what you don’t know is that when President Herbert Hoover had this idea, I had already explained to him the dangers of signing this legislation.
But President Herbert Hoover explicitly stated that he would definitely sign this legislation. We even had a dispute at that ti!"
Donnie explained to Henry Ford.
Henry Ford showed a pained expression: "Is there really nothing we can do?"
Donnie shook his head and said, "No, especially now that this matter has been publicized. Those ordinary Arican citizens don’t all understand the dangers of this legislation.
Now that the U.S. economy is being hit by the financial crisis, everyone’s life has undergone dramatic changes.
What they see is that foreign goods are competing with dostic goods, so they simply think that as long as these goods are driven out of the U.S., dostic goods can be sold!
Most importantly, the legislation has been passed in Congress. Do you think Herbert Hoover would offend all the ordinary citizens and Congress?"
After hearing Donnie’s explanation, Henry Ford slumped onto the sofa like a wilted eggplant.
"If that’s the case, we have tough days ahead!"
Donnie nodded helplessly.
Ultimately, Henry Ford left Donnie’s study dejectedly. Since this legislation cannot be changed, he needed to make preparations imdiately.
"It seems that Detroit will face another wave of massive unemploynt!"
After Henry Ford left, Jack Morgan said to Donnie with resignation.
Donnie nodded in agreent with Jack Morgan’s view that for Ford Motor, with the critical European market expecting significant setbacks, they needed to continue cost-cutting and sourcing inco.
Workers have always been the easiest to lay off!
"How is llon’s situation now?"
Jack Morgan asked Donnie about Andrew llon’s situation.
Previously, Donnie had approached Franklin Roosevelt, hoping he could diate between Andrew llon and the Democratic Party, allowing Andrew llon to leave gracefully.
Eventually, after Andrew llon paid a price, the Democratic Party accepted his terms, and Andrew llon took advantage of Herbert Hoover signing the legislation to deliver his resignation speech.
"He’s already in Atlantic City; Trident Shipyard has received his order and is customizing a luxurious yacht for him, preparing for future sea fishing. He should be watching the races with Coolidge at the Racing Club now!"
"He does seem relaxed!" Jack Morgan comnted with a shake of his head.
Donnie asked Jack Morgan: "The signing of this legislation has quite an impact on Morgan; are you ready to handle the pressure that’s coming?"
Jack Morgan smiled wryly: "I’ve already sent George Whitney to Europe to conduct talks with the leaders of those countries, hoping to minimize the losses!"
Donnie nodded, saying, "This legislation won’t last too long; just get through this period!"
Jack Morgan lit a cigar for himself and said: "I know; it’s just that I don’t know what kind of abyss this legislation will push the U.S. economy into!"
Donnie smiled and said: "A crisis often signifies an opportunity; next, we need to focus on erging industries and technological developnt. Pay more attention to product updates and iterations!"
"Thank you for the reminder!" Jack Morgan understood Donnie’s point, then smiled and said: "Donnie, do you know what I’m most grateful for now?"
Donnie shook his head and asked: "What?"
Jack Morgan said: "One, as you previously ntioned, the U.S. is vast, the world is vast; we didn’t limit ourselves to the U.S., nor did we limit ourselves to Europe. Now, with the implentation of this legislation, we can direct more attention to investnts in specific foreign enterprises.
The other is trusting you before the stock market crash; if not for the profits gained during the crash, honestly, even Morgan would find this crisis difficult to handle!"
Donnie laughed and said: "I thought you were angry that Venus Bank’s size has surpassed Morgan’s, becoming the largest consortium in Arica now!"
Before the stock market crash, Morgan was undoubtedly Arica’s leading consortium, incomparable to Rockefeller, llon, or even Venus.
But with the arrival of the stock market crisis, Venus Bank gambled nearly all its chips, thus becoming the biggest beneficiary of the crisis.
This allowed Venus Bank to surpass Morgan and beco the largest consortium in Arica!
Jack Morgan chuckled and said: "Regarding this, I’m still annoyed, but it’s unchangeable. Morgan will find an opportunity to surpass Venus Bank in the future!"
Donnie heartily laughed and declared: "I can tell you with absolute certainty, that’s impossible!"
Of course, Jack Morgan didn’t believe him!
After their conversation and laughter, Jack Morgan also left Donnie’s study.
By the afternoon, Chris arrived in New York!
"What do you think about the debate over this legislation?" Donnie pointed to the sofa next to him, inviting Chris to sit down, then asked.
Chris said: "The business of United States Logistics will definitely be affected, and the impact will be substantial!"
Donnie nodded and said: "So, are you here to complain to ?"
"Of course not!" Chris laughed and said: "I ca to discuss with you about shifting United States Logistics’ business from the surface to the underground!"
Donnie smiled, as this was precisely what he wanted to discuss with Chris.
"I just ntioned to Jack Morgan that a crisis often signifies an opportunity; now you’ve brought an opportunity!"
The increase in tariffs not only raises the prices of foreign products but dostic products as well.
With the loss of competitiveness.
Plus, with all manufacturers recovering from the stock market crisis losses, they’re certainly eager to recoup as much as possible.
It’s the nature of capital, uncontrollable by anyone!
Under such circumstances, everyone will find that the prices of the goods they need have increased, and at that ti, they’ll start to miss cheaper products.
Unfortunately, there are no foreign products to drive down the dostic prices!
At that point, if lower-priced products appear on the market, there’s no need to analyze the situation!
This situation will not only happen in the U.S. but in other countries too!
Thus, a complete smuggling chain is born.
"Fortunately, the connections we made during the bootlegging business are still there, and for us, it’s just shifting from liquor products to other goods.
I’ve already calculated, if we can operate at the scale of the bootlegging business, our annual revenue will far exceed what we earned from bootlegging!"
Chris said with a smile.
Donnie asked: "There must be so downsides, right?"
Chris nodded: "Firstly, doing this will earn the resentnt of both dostic and foreign rchants; secondly, if we can think of this business, I’m sure many others can too!"
Donnie nodded with a smile: "Looks like we need to increase the numbers of our guard, right?"
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