The buying frenzy began. Franz sent people to spread rumors that prices were about to rise.
This was based on fact: Vienna, which historically had the highest prices in the Austro-Hungarian Empire, had surprisingly lower prices than other regions for the past half year.
Everyone knew this wasn't normal; capitalists weren't philanthropists, and this situation couldn't last.
The citizens of Vienna believed it. They had just enjoyed half a year of good times, and now it was about to end.
Naturally, a frantic buying spree ensued. Before dawn, long queues formed outside every supermarket in Vienna as the buying frenzy took hold.
Volvo, having prepared in advance, had naturally moved many goods. Essential long-term storage items were no longer stocked. Instead, they prepared many handicrafts and short-term consumables like bread and various snacks.
They were quickly bought up. Volvo's service staff opened the warehouse, and everyone saw that without essential goods, it was no longer the target of ordinary citizens' panic buying.
Then, they left one after another, flocking to other supermarkets. Soon, many supermarkets were emptied. Looking at the bare shelves, many capitalists were on the verge of tears.
It should be known that most supermarket inventory was purchased on credit, usually settled monthly, and it was normal to delay payment for half a year or even a year.
Now, they were selling at a loss; the more they sold, the more they lost, but the debts couldn't be reduced by a single cent.
If you had the strength to continue operating, then to retain customers, delaying payments for a while was fine. But if you suffered heavy losses and wanted to close down, then they wouldn't hesitate to kick you when you were down.
Kurtfy, who had just emerged from difficulties, was dealt another heavy blow. His stockpiled goods were bought up, leading to an awkward situation: nothing left to sell!
Vienna's retail industry suffered a severe blow, and many capitalists faced a problem: insufficient capital turnover.
Department stores and supermarkets were losing more the more they sold. The proceeds from clearing out inventory weren't even enough to pay off the manufacturers' debts.
Forced into a corner, they all borrowed heavily. Vienna's banks naturally wouldn't miss this capital feast. For a time, opportunism and kicking people while they were down came to the fore.
Even worse were the small capitalists, who faced the danger of insolvency. Many simply absconded with funds, as there was no ability to pursue stolen assets across borders in that era.
This also implicated the manufacturing industry, with many factories being caught in the crossfire and going bankrupt.
The capitalists who escaped this disaster were naturally unwilling to give up. Many had a flash of inspiration and created various chaotic 'cities' like fashion cities, dining cities, and machinery cities, planning to make a quick buck to compensate for their losses.
They thought, since the buildings were already there and couldn't be sold off, they might as well make a last-ditch effort. Relying on the popularity accumulated earlier, the pioneers naturally made money, but the aftermath was that all sales industries suffered.
A massive wave of bankruptcies swept through, with a large number of capitalists going bust, one dragging down another. The number of unemployed people grew daily, and Vienna was in a state of desolation; an economic crisis had arrived.
The financial bigwigs, who had just been gloating, might not have been familiar with this kind of operation. They gorged themselves at first, then choked and suffered from indigestion.
Holding a large number of collateral assets, they faced a financial crisis but couldn't convert them into cash, watching helplessly as they depreciated day by day, on the verge of tears.
Then, it spread to the stock market. Due to a lack of funds in the market, the stock market began to plummet, and countless fortunes were evaporated.
Vienna's financial crisis quickly spread throughout the entire Austro-Hungarian Empire. Many businesses went bankrupt, workers lost their jobs, and society became turbulent.
Bank deposits also began to drain significantly. Finally, a small bank named Boston ran out of funds and went bankrupt.
Due to the Austrian government's improper handling,A run on banks began, and more banks were implicated. Many who previously had insufficient capital reserves now followed in Boston's footsteps.
At this point, the Austro-Hungarian Empire, belatedly realizing the severity, finally understood that it needed to rescue the market. On December 8th, Austro-Hungarian Finance Minister Murdoch-Hollman held a press conference, announcing the launch of a rescue plan.
Ferdinand knew that the harvest season had arrived. The Austro-Hungarian Empire's economic development was still quite good at the time. As long as enough capital was injected, this financial crisis would soon pass.
Taking advantage of the depressed stock market, Ferdinand fully utilized a 'buy, buy, buy' strategy, acquiring many valuable companies at rock-bottom prices. He also took the opportunity to invest in Skoda, becoming its second-largest shareholder.
Of course, Skoda at this time was not as formidable as it would be in later generations. Its true explosion would begin in 1899, reaching its peak in 1937, when its artillery production surpassed that of the entire British Isles. Ferdinand was merely planning ahead.
Kurtfy Department Store, which had long been Ferdinand's target, naturally couldn't escape his grasp.
Kurtfy Department Store first suffered heavy losses in the retail sector, and after the financial crisis erupted, banks demanded early repayment, delivering a fatal blow.
The two hundred thousand pounds in loans that the Hungarian capitalists had once provided now became Kurtfy's death warrant.
Ever since its reputation went downhill, Kurtfy Department Store was required to pay cash for all its procured goods, tying up a large amount of capital.
Now, with banks demanding early repayment, its capital chain broke. Kurtfy Department Store was beyond salvation. After a brief struggle, the Herder family finally decided to give up.
After all, they were the fuse that ignited this financial crisis. They would likely be blamed, and being a scapegoat was not easy.
By selling the company now, everyone could still get a share, and crucially, Ferdinand could pay in cash, which they could use to rescue their other ventures.
With fifty thousand pounds in cash and the assumption of all debts, Ferdinand easily merged Kurtfy Department Store—a giant company valued at eight hundred thousand pounds.
Such opportunities only arise during financial crises, when many companies go bankrupt. Everyone is busy with mergers and reorganizations, so naturally, no one competed with Ferdinand.
Ten years of effort are not as good as one moment of eruption.
This time perfectly illustrated that saying. Ferdinand made a fortune. The gains from this single event alone would be enough for the Koháry family to strive for ten years.
The occurrence of the economic crisis was somewhat beyond Ferdinand's expectations. The power of the butterfly effect exceeded his imagination.
As the butterfly effect fermented, the influence of foresight would become increasingly smaller. Ferdinand felt a bit panicked. He seemed to need to prepare a few more fallback plans.
The Austro-Hungarian Empire was out of the question. Although it was the Koháry family's stronghold, unfortunately, it was destined to have no future development.
The Central Powers were also not to be considered. Ferdinand was not confident enough to change the outcome of the World War relying solely on himself.
It seemed like looking beyond Europe, developing in the colonies, was also a good option. After all, many places were currently blank slates with no competitors. He probably still remembered a few famous mines in the world; at worst, he could become a mining magnate.
Time is running out. It seems my trip to London needs to be moved up, Ferdinand thought to himself.