Chapter 1991

Fujii knocked on the table with a solemn face, his eyes sweeping over everyone like torches, his expression extremely serious.

"Short sellers are sniping government bonds, and at this time, Jusen suddenly announced bankruptcy. I believe everyone here knows very well that these two things are by no means a coincidence, and there must be some unknown conspiracy hidden behind them.

However, no matter what kind of calculation is behind it, Jusen's bankruptcy is a foregone conclusion and cannot be saved. Therefore, the top priority is to try every means to save Jusen."

Sure enough!

Hearing Fujii's words, everyone showed a look of realization.

An executive said thoughtfully: "Chief, our country's fiscal situation has reached the red line, and major banks, and even our central bank, are facing a large number of non-performing loans and credit risk problems, and it is really difficult to take out more funds. If we want to fully rescue Jusen, then the stock market and bond market will probably fall into extreme danger."

Fujii's face became more and more gloomy, as if covered by dark clouds, and he asked in a low voice.

"Is there really no other solution?"

Hearing this, everyone was silent.

What other solution?

Everyone cursed in their hearts, what solution can create money out of thin air?

At this time, a younger-looking executive hesitated and said: "Jusen must be saved, but the bond market cannot be left unsaved. 680 trillion yen of government bonds, the interest paid every year is a negative value.

Last year's fiscal revenue was 33 trillion, but the budget expenditure was

"Therefore, most people are clear that our government has absolutely no possibility of repaying the money, and it is impossible to pay off the national debt for all eternity. Coupled with the current economic crisis, if we let the national debt be targeted without saving it..."

"It won't just be the bond market; the foreign exchange market will also collapse. For us in Japan, this will be a devastating catastrophe."

Everyone remained silent; they seemed to have already seen that terrifying future.

The Japanese government is burdened with huge debts, and the annual interest expenditure has already become a heavy burden.

Against the backdrop of the current economic crisis, the government bond market is even more precarious.

If the Japanese government chooses not to rescue the bond market, then not only will the bond market collapse, but the foreign exchange market will also be hit hard.

This is undoubtedly a disaster for Japan, and its national economy could fall into a long-term recession or even bankruptcy.

Two years ago, when short-sellers targeted government bonds, the Japanese government ultimately won the victory.

There are many reasons, the two most important of which are: First, the property market bubble had not completely burst.

Second, the Japanese government's credibility had always been good, and there were still some people who were optimistic about Japan's future.

Therefore, in the last defense of the national debt, the Japanese government won.

However, the situation is completely different now; various scandals have erupted simultaneously, and the Japanese economy is on the edge of extreme danger.

More importantly, the short-sellers targeting the foreign exchange market this time are completely incomparable to the last time; their strength and scale are far from being in the same order of magnitude.

Fujii looked at this young executive: "I know these things. So, do you have a solution?"

The young executive hesitated again: "Use foreign exchange reserves, and we will fight another defense of the national debt."

"No! Absolutely not!" One executive's face changed drastically, and he opposed it with a firm tone: "I can imagine that if we use a large amount of foreign exchange reserves to buy back government bonds, the short-sellers will definitely change the battlefield and target the yen. At that time, we will be even more passive."

The young executive looked at this agitated executive and responded calmly: "Is the situation we are facing now very good?"

"This..." That executive was speechless for a moment.

The young executive's expression was very calm as he continued: "There is an old Chinese saying: between two evils, choose the lesser; between two benefits, choose the greater."

"It means that when facing two harmful options, choose the one with the least harm. And when facing two beneficial options, choose the one with the greater benefit. What we are facing now is exactly this kind of choice."

That executive fell silent, and Fujii also fell into deep thought; he was considering the feasibility of this plan.

The young executive continued immediately: "The short-sellers' target is the stock market. When we make a vow to defend the bond market to the death, they naturally won't go head-to-head with us."

"So, we abandon the stock market, and the short-sellers will naturally turn back to it. Once they are full and satisfied, they will naturally leave."

Oshima, who had not spoken until now, frowned: "How do you know that after they get that piece of the stock market cake, they won't turn back and target the bond market again?"

"I cannot guarantee it." The young executive shook his head: "But we must gamble—gamble that they don't want to bankrupt our Japan."

Fujii tapped his fingers rhythmically on the table, making a crisp sound: "Nowadays, we have fallen into a desperate situation and have no other choice but to act according to this plan. Although we will still suffer huge losses, at least we can control the situation and avoid a more serious crisis."

If the bond market is abandoned, the government will go bankrupt. If the stock market is abandoned, the stockholders will lose everything; this is choosing the lesser of two evils.

Fujii finally made the final decision, finalizing this difficult policy. Then, he turned his head to look at the young executive and asked with a serious tone.

"The key lies in the Jusen company. Regarding this, do you have a countermeasure?"

The young executive frowned slightly, lowered his head to ponder for a moment, and then decided: "I think we can inject all 680 billion yen of public tax funds into the already bankrupt Jusen company."

As soon as these words were spoken, everyone present was shocked, their faces full of astonishment and disbelief. They widened their eyes and shook their heads one after another to express their opposition.

If this huge amount of public tax funds were injected into the already bankrupt Jusen company, it would inevitably trigger strong public dissatisfaction and protests.

"I know this will cause a fierce public reaction." The young executive's voice became low: "However, I want to ask everyone here: are you willing to bear the wrath of the Minister of Finance, or are you willing to bear the wrath of the people?"

The young executive's words made the voices of opposition disappear completely.

Injecting huge public tax funds into the already bankrupt Jusen company is a government action and has nothing to do with them, the central bank. Even if the public has anger, it won't burn them.

But if they prevented the injection of public tax funds into Jusen and let Jusen collapse and go bankrupt, the wrath of the Minister of Finance would definitely burn their heads.

As long as they aren't idiots, how could they possibly do such a stupid thing?