God-level Trader of Rebirth

Chapter 68

Finance was originally invented by the Dutch.

Later, the English perfected its mechanism.

In the end, the United States took the baton of development finance into its own hands.

With powerful financial tools, Wall Street was born.

The people here are in control of the financial order, and there are so many financial products that are dazzling, whether they rise or fall, they are all related to them.

those years.

They use finance as a tool to manipulate other countries everywhere, and they have absorbed huge wealth from it.

And the financial turmoil proved that even some small countries are just "small retail investors" in the international economic game.

In the face of the bite of the capital giants, just like ordinary people, they have no power to parry.

1998 8 Month 13 Day.

The Dow Jones index retreated, with a daily drop of 299 points.

The Nikkei index was affected, which also triggered a panic decline. The Japanese authorities were powerless and could only let the stock market go down.

Markets in Europe, Africa, the Middle East, and the Americas were not spared, and all fell sharply.

The outside world is full of bad news, and there is no good news.

Hong Kong's financial market was shrouded in dark clouds.

Not only Wall Street, but also many financial institutions in Europe have also participated.

Several European and American investment banks and hedge funds launched a massive attack on the Hong Kong foreign exchange market, the stock market and the Hang Seng Index futures market at the same time, selling Hong Kong dollar and Hang Seng Index futures frantically.

The magnitude of the sell-off was unprecedented.

It is reported that its elite team is the largest hedge fund under the command of Wall Street speculator George Soros - Quantum Fund.

Under their leadership, in just half a day, international hot money sold about 400 billion Hong Kong dollars.

In the next two days, there were 350 billion Hong Kong dollars and 278 billion Hong Kong dollars selling in the foreign exchange market.

Faced with such a large-scale attack, the Hong Kong Monetary Authority changed its previous practice of not intervening in the market, and urgently used foreign exchange reserves to directly enter the market to buy Hong Kong dollars.

Moreover, while maintaining the stability of the exchange rate, it did not raise the bank's interest rate to increase the hype cost of international hot money as usual.

Wall Street, New York, Quantum Fund trading room.

Everyone stared nervously at the computer screen in front of them.

Da da da da da.
The sound of keyboard tapping came and went.

Every minute, foreign exchange amounting to hundreds of millions is traded.

After just a few hours of operation, the Hong Kong dollars sold in the Xiangjiang market reached more than 350 billion.

It's just a pity that these sales orders were caught by the Hong Kong government again.

According to the plan formulated by Soros and others, they first vigorously sold the Hong Kong dollar in the foreign exchange market, forcing the Hong Kong Monetary Authority to adopt the old routine of raising interest rates to deal with it.

As long as interest rates are raised, it can play a role in suppressing the stock market.

When the stock market falls, the HSI futures will also decline simultaneously, and then they can short-sell the HSI futures at a lower price in the futures market, and both the foreign exchange market and the stock market will profit.

But this time, the Hong Kong Monetary Authority just accepted the sell order silently, and did not raise the interest rate.

This made everyone in the Quantum Fund feel a little regretful.

"George, it seems that the Hong Kong government is already on guard." The fat military adviser Drew Kenmiller said.

"It doesn't matter. Our analysts have already expected this. Let Jones carry out the second plan." Soros said slowly, leaning on the back of the leather chair.

Faced with the massive attack of international hot money, almost everyone in Xiangjiang believes that Soros and his little partners must destroy the exchange rate of the Hong Kong dollar.

He has done the same for Thai baht, Indonesian rupiah, Korean won, and ringgit before, and this time will be no exception.

Therefore, the Hong Kong government directly mobilized a large amount of foreign exchange reserves to undertake the sale of international hot money in the foreign exchange market and stabilize the linked exchange rate system.

However, in Soros' view, as long as you can make money, who would only care about the exchange rate?

at the same time.

Hong Kong Monetary Authority, small groups of people dressed in dark suits, people who can tell at a glance that they are working in investment banks and securities companies, are hurriedly walking up to the fifth floor of the Monetary Authority.

Many people's foreheads were soaked with sweat, and their faces still had lingering fear.

"Director Liang, hold on!"

"Today is more than 300 billion!" The leading middle-aged man said happily, the selling of those hot money was unprecedentedly strong, if they hadn't been prepared, the linked exchange rate would have collapsed long ago.

"How much foreign exchange reserves do we have?" Liang Zhaomin did not feel relaxed at all, but asked with a frown.

The Hong Kong government and international hot money have been "arm wrestling" for half a month, the turnover of the Hong Kong foreign exchange market has skyrocketed, and their foreign exchange reserves are also rapidly decreasing.

"There are more than 400 billion US dollars." The middle-aged man wiped the sweat from his forehead and replied bitterly.

Liang Zhaomin's expression froze. He didn't expect the foreign exchange reserves to be consumed so quickly, which greatly exceeded his psychological expectations.

The Hong Kong government took the initiative to intervene in the market this time, but it has made great determination.

The economic policy pursued by Xiangjiang is:

"In a market economy, the Hong Kong government should not take action."

If you make a move, you are slapping yourself in the face. If you go back on your word, then what credit is there, and you will definitely suffer infamy.

Zeng Jinquan, who was the financial secretary of Heung Kong at the time, was also extremely struggling in his heart, repeatedly considering the positive and negative factors of entering the market.

终于，在8月2、3日作出决定，8月4日签署文件，5日开始连九个交易日的干预行动。

It can be said that everyone is under tremendous pressure.

"Outside, many people are queuing up at the bank to exchange dollars. If our foreign exchange reserves are consumed at this rate, we won't last long." The middle-aged man reminded.

There are too many bad news in the market, and all kinds of rumors are flying everywhere, but almost all agree that the Hong Kong dollar will depreciate, and the RMB will depreciate.

Many people even lost confidence in the linked exchange rate system when they heard that it was Soros again.

They subconsciously believe that the Hong Kong government must not be able to deal with others, and it is the safest way to exchange money into US dollars first.

In order not to be like Thailand and South Korea, the national currency depreciates sharply, and the money becomes waste paper. Thousands of dollars, even a few catties of pork, cannot be bought.

"You guys go back first, I'll figure out a way." Liang Zhaomin said with a sigh.

"Chief."

The middle-aged man opened his mouth, hesitated to speak, but finally did not continue.

Because according to the current situation, they can persist for another ten days and a half months at most, which is already the limit.

If a good countermeasure is not devised, the peg will not be maintained.

By that time, the decades of hard work of the people of Xiangjiang will all be wiped away...

After everyone left, Liang Zhaomin stood in front of the window, looking at the blushing Bauhinia outside.

I was struggling.

Just as the setting sun was about to disappear, he finally made up his mind, turned around, picked up the phone receiver on his desk, and dialed a number.

They discussed for a long time, and the person on the other end of the phone finally said: "I will try, but I can't guarantee it!"

More than eight o'clock in the evening.

A red phone call from No. 1 Tim Wah Road, Central, Xiangjiang, to the capital city of mainland China.

It rang twice before being picked up.

"Hey."

……

(End of this chapter)