Riding the wind of rebirth

On September [-], the Italian lira, which has always been a soft currency in the European monetary system, was in a hurry.

Although the Italian government raised the bank discount rate twice from 12% to 15% on the first day and the [-]th, and also sold marks and francs to the foreign exchange market, it failed to ease the situation.

On September 3.5, the Italian government had to announce the depreciation of the lira, lowering its exchange rate by 3.5%, while the other ten currencies in the European Monetary System will appreciate by [-]%. This is the first exchange rate in the European Monetary System since January [-]. One adjustment.

At this time, the German government still did not want to make sacrifices, and finally had to make a small concession due to the crazy clamor of the member states of the European Monetary System. On September 8.75, it officially announced that it would reduce the discount rate by half a percentage point. From 8.25% to [-]%.

This is the first interest rate cut in Germany in five years, and it is also a huge contribution that Germany has made for the stability of the European currency, because Germany is different from its pig teammates, and its economy has been growing continuously and steadily.

It can be said that if it weren't for a group of pig teammates who play financial games, Germany's economy will continue to improve, and the discount rate needs to be increased instead of lowered.

This real "benevolent act" is of course highly appreciated by the United States, Britain and France, but the timing is already too late, and the action is too small.

On the night when Germany announced the interest rate cut, Jack Lee called Zhou Zhi and shouted excitedly: "Elbow! It's stable this time, one week! We only need one week to earn more than we can spend in our lifetime!"

Sure enough, the next day, the international predators took it as a signal of the starting gun and opened their mouths wide.

The pound was short-sold crazily, and the exchange rate began to fall all the way. The exchange rate between the pound and the mark broke through three lines of defense in a row, reaching 1 pound to 2.78 marks.

The plunge of the British pound caused the British government to lose its footing. In the early morning of the 2th, it announced that it would raise the bank interest rate by 3 percentage points. A few hours later, it announced an increase of 10 percentage points, raising the interest rate from 15% to [-]%.

Raising interest rates twice a day is unique in modern British history. The purpose of this abnormal move is to attract foreign short-term capital inflows, increase demand for sterling and stabilize the exchange rate of sterling.

But the changes in the market are subtle, and such a move made the short side very excited, because it is a strong signal that the British government is difficult to resist the siege.

Market confidence is completely shaken, the general trend is completely formed, and the trend of exchange rate fluctuations will be difficult to stop.

In ten or 56 days, the central banks of various countries injected tens of billions of funds to support the pound, but it was of no avail.

十六日，英镑与马克的比价又由前一天的1英镑等于2.78马克跌至1英镑等于2.64马克，英镑与美元的比价也跌到1英镑等于1.738美元的最低水平。

Organs run out.

On the evening of the 3th, British Chancellor of the Exchequer Lamont announced that the UK would withdraw from the European Monetary System and lower the interest rate by 2 percentage points.

After the depreciation of the Italian lira on the [-]th, only three days later, it was once again in crisis in the foreign exchange market. The price ratio between the mark and the lira once again exceeded the limit of the readjusted exchange rate.

In order to save the lira from falling, the Italian government spent all of its foreign exchange reserves worth 40 trillion lire, but it didn't work. It had to announce the lira's withdrawal from the European monetary system and let it float freely.

After a six-hour emergency meeting of finance officials from the European Community, they agreed to temporarily leave the European Monetary System for Britain and Italy.

Another currency, the Spanish match tower, also announced a 5% depreciation.

From January 1987 to September 1, the exchange rate of the European Monetary System was adjusted only once in more than five years, and it was adjusted twice in three days from September 1992 to 9, 92 , which shows the seriousness of the European currency crisis.

On September [-], the "Mastege Treaty" was voted through. Its central idea is to establish a political entity similar to the United States of Europe among countries that still have great cultural and political differences.

Member states not only have to use the same currency, but also have to pursue a common foreign and security policy.

The passage of the "Masteje Treaty" finally calmed down the European currency storm temporarily. The pound sterling, the Italian lira, the previous Finnish mark, and the French franc, which suffered from the disaster, finally ushered in a sharp drop Equilibrium after depreciation.

The reason for the balance is, of course, that the short side has exchanged chips for benefits, and the bloody feast is finally over.

The funds for exchanging these chips come from the huge sums of money that the central banks of the ten countries had to invest in order to save the European economy and the national economy.

According to later statistics, on the 270th alone, the British government had to buy [-] billion pounds to counter the sell-off, almost spending all of its foreign exchange reserves.

Zhou Zhi's capital can only be regarded as a drizzle in this feast. He has tried his best, even using the maximum leverage, and only allowed himself and Jinan Co., Ltd. to get 500 million US dollars each.

Zhou Zhi seriously suspects that the income of Jack Li's Hongsheng Accounting Office far exceeds his own amount, but he is also very helpless, after all, there are only so many mothers and children in his own capital.

In fact, Zhou Zhi also overestimated Jack Lee's income, because most of the accounting firms on Hong Kong Island adopt the partnership system, and the funds that each person can use are limited. At the beginning, Jack Lee only had the entrusted funds of Zhou Zhi and An Xin An Ran Foundation to operate. , After lobbying to the approval of the big bosses and getting the operating capital, it was already after earning Zhou Zhi and the others tens of millions of dollars.

The entry layout was a bit late, and they did not dare to operate according to the high leverage set by Zhou Zhi. They also missed the first wave of bonuses from the Finnish Mark and Italian Lira. Although the capital scale was much larger than Zhou Zhi and the others, it was not exaggerated As far as I can imagine.

But no matter what, this cooperation is also very pleasant. For Jack Lee, this battle has completely established his position in the family and accountants, which is far more important than the mere hundreds of millions of dollars he harvested.

"Did Cousin An Xin tell you when she will arrive in Shenzhen?" Zhou Zhi was a little speechless when he heard Jack Lee's non-stop replay in the microphone, sharing his great achievements.

These operations are the result of discussions between the two of you, and you know every step carefully. Now I repeat, are international calls cheap?

"An Xin said to come over during the National Day. I will accompany her on the inspection." Jack Lee's excitement during this period probably also has this reason: "Didn't she say that she would open a factory in Shenzhen? There are enough funds now."

"That's right, you are a great hero now." Zhou Zhi sneered.