God-level Trader of Rebirth

Chapter 67 The Most Dangerous Moment
But these letters are not all worthless.

There are letters of intent sent by some software companies, and they hope to reach a cooperation with Infinity to design some peripheral supporting software.

Over the years, Infinity has spent so much money, and many programmers are not just living.

With instant messaging as the backbone, they continue to develop a series of branches such as games, music, novels, Chinese search engines, communities, etc.

The purpose is to build a complete ecological network.

In this era of lack of entertainment, anyone exposed to these new things will be unable to extricate themselves.

The web is wonderful.

Even the "social elites" like Uncle San are not immune to this. They come to the company every day to play games, or go to the Qiandu post bar designed by the company, all kinds of stickers, showing off their wealth, watching others kneel******** **To see the charm of the Internet.

Everything is going in a good direction, but not completely without negatives.

There have been several news reports in the past month, saying that the game designed by Infinity Company is extremely harmful.

Children are addicted to online games every day, and they don't want to study. They spend high-intensity entertainment in front of the computer, which is obviously infected with "Internet addiction".

Mu Xiu Yu Lin Feng will destroy it, and many experts have emerged, criticizing Infinity Company for producing electronic opium, poisoning young people, and suggesting that relevant departments ban it!

Affected by this, Infinity's share price fell 7% on the day.

"Internet addiction", what a distant vocabulary.

In later generations, with the development of the Internet, the Internet has become an indispensable part of people's lives. "Internet addiction" has also disappeared along with the torrent of the information age, and is rarely mentioned again.

But now it is the end of the 20th century, and people still have great prejudice against new things, especially online games, and even demonize them.

The first person in the world to create the word "Internet addiction" was a psychologist named Ivan Goldberg in New York.

One day in 1995, on a whim, Goldberg fabricated seven diagnostic criteria, claiming to have discovered the mental illness of "Internet addiction".

His prank immediately fooled several of his colleagues.

However, he also clarified afterwards that Internet addiction is not a real addiction.

"If you expand the concept of addiction to every human behavior, you will find that people are addicted to reading, they are addicted to running, and they are addicted to socializing with other people," Goldberg said.

Infinity quickly published the news on its website, but with little success, because people are more willing to blame their "non-self-control" on others.

For this reason, Chen Weidong could only order the company to design an anti-addiction system. Dissatisfied teenagers can only log in to the game for at most 3 hours a day.

This move quickly assuaged the social condemnation of Infinity Corporation.

Infinity also pointed out that most people own a computer not just as a tool but also as an entertainment facility.

Entertainment is human nature, there is no such thing as internet addiction.

End of July 1998.

Antlers Building, nine floors.

Sitting in front of the computer, Chen Weidong couldn't help frowning as he watched the stock market trend in recent months.

The Hang Seng Index rebounded to more than 11000 points in March. After hitting the pressure level, it fell all the way.

It is now the beginning of August, and the Hang Seng Index is like riding a roller coaster, falling back to around 8000 points.

Judging from the trend of the K-line chart, it is obvious that there is a continuous outflow of large funds, but the amount has already begun to shrink.

This means stop falling?
Chen Weidong knew that it was absolutely impossible...

At the same time, the mainland, Donghai City.

There are rumors in the foreign exchange black market that due to floods, the yen crisis and many other factors, the value of the RMB will be difficult to maintain.

"China may depreciate the RMB by as much as 30 percent."

For a time, the exchange rate of RMB to US dollar on the black market fell to 8.70, 8.28% lower than the official exchange rate of 5.

These rumors also prompted investors to sell B shares to cash in and buy dollars.

On July 7, B shares fell by 28%, hitting a record low.

The B shares here are not the kind of B shares you understand, it refers to RMB special stocks.”

"A security whose face value is marked in RMB and can only be traded in foreign currencies."

On the same day, a commentary in South China's "Securities Times" pointed out that Huaxia had warned the United States that if the United States continued to allow the yen to continue to depreciate, Huaxia might reconsider whether the RMB should depreciate.

A dealer at Sakura Bank in Tokyo also said, "It is reported that Dai Xiaolong, the governor of Huaxia People's Bank, said that Huaxia RMB will depreciate slightly."

All of a sudden, news unfavorable to the RMB came one after another, and people couldn't help but start to wonder, how long can the RMB last?

On August 8, the exchange rate of the yen against the U.S. dollar broke through the important threshold of 3, and the citizens of Donghai City went to the black market to exchange U.S. dollars at high prices.

On this day, the RMB black market exchange rate reached 8.8 yuan to 1 US dollar.

In the first week of August, the price of the renminbi on the black market in Shanghai fell as low as 8 yuan to the US dollar, nearly 1% lower than the official exchange rate.

1998 8 Month 9 Day.

The Hong Kong government announced that the GDP growth in the first quarter was negative.

Bad news followed.

Listed companies in Heung Kong announced interim results one after another. Cathay Pacific lost money for the first time in more than 50 years, and profits of Swire and HSBC dropped sharply.

Rumors abounded in the Xiangjiang market, making investors panic.

These have undoubtedly become signals for international financial speculators to attack Xiangjiang!
After experiencing the previous three shocks, international speculators found that the exchange rate of the Hong Kong dollar and the stock market were somewhat difficult to shake, but they did not let it go, but regrouped and adopted a more shrewd strategy.

They began to simultaneously launch three-dimensional attacks in the currency, foreign exchange, stock and financial derivatives markets.

Trying to impact the exchange rate system to make it collapse, so as to make huge profits in the financial turmoil.

The main patterns are:
In the foreign exchange market, first borrow Hong Kong dollars through Hong Kong's money market, offshore market, and sell bonds, and then sell them in a concentrated manner to suppress the Hong Kong dollar exchange rate.

Once the Hong Kong dollar depreciates, speculators can buy back Hong Kong dollars at a low price to repay and earn profits from the difference.

Another method is that international speculators can sell Hong Kong dollar forward contracts in the forward foreign exchange market, causing the Hong Kong dollar forward exchange rate to fall.

If the Hong Kong dollar depreciates on the date when the forward contract expires, international speculators can profit when the contract is delivered.

At the same time, in the stock market, international speculators are not idle either, they short-sell stocks and accumulate a large number of short positions in stock index futures.

When they short-sell Hong Kong dollars in the foreign exchange market, due to the automatic adjustment mechanism of the Hong Kong linked exchange rate and in order to limit speculators' access to Hong Kong dollars, the general authorities will raise short-term interest rates to raise the cost of funds for speculators.

Once the interest rate rises, it will suppress the stock market.

After the stock market falls, speculators can profit by buying back stocks at low prices and delivering stock index futures.

After countless calculations, simulations, and discussions by countless Wall Street elites and senior analysts.

It is believed that the time is ripe for an all-out attack on the Hong Kong dollar.

(End of this chapter)