Chapter 251 Attacking the Pound

Maybe some cuties just said:

You are so fake. Playing like this in a place controlled by others and confronting others, isn't this looking for death?

Although the British have the final say now, finance has never been about who has the final say in this place.

As long as there is a loophole in the market that can be exploited, we will exploit it.

Even in the United Kingdom and the United States, there are still people from their own countries who have shorted finance in recent years.

Although financial giants will still dominate the international market in a few years, they will behave very calmly in their "hometowns" of the United States or the United Kingdom, and there will rarely be news about "harming their own people."

It’s not that financial giants talk about hometown friendship.

Because most of the financial giants are experts at taking advantage of the law, and the increasingly sophisticated regulatory authorities in these countries are just more powerful.

Moreover, financial thieves never stand in front of the stage by themselves. They have to find ways to hide themselves behind the scenes.

The simplest way is to hold shares on behalf of someone else, open a company A, have subordinate No. 1 hold the shares of this company on behalf of the company, and then ask subordinate No. 1 to open a company B, with the next person C holding the shares on behalf of the company.

Although holding shares on behalf of others may be risky, money can make a difference.

In the financial world, there are syndicate banks and syndicate loans, as well as syndicate companies and hedging funds.

Just like a matryoshka doll of a furry bear, one layer is nested inside another.

A company does not have to be just one company. You can open a company in the Bahamas, London, Singapore, New York, Mexico or even other South American countries.

As I said before, short selling is the use of legal means to make money in accordance with market rules, but the profits are based on the pain of others.

If we really want to dig deeper, the short selling this time is selling behind the British.

Just like quantum short selling, when Mr. Suo sells, all the capital also sells.

At this time, the British are equivalent to Old Man Suo who leads the charge, while Xu Luo is the international capital.

It is also the British consortium that is leading the charge and wants to make a name for itself.

There are many short-selling institutions, and Mr. Suo is the most well-known one, but Mr. Suo is not the only one in the world, but he is famous for his operations under the name Quantum.

Old Man Suo has always been safe and sound, not because he has the aura of a protagonist or because he is an American, but because he is good at exploiting loopholes in the rules.

Even the countries in Southeast Asia hate him deeply and accuse him of "staining the blood of Southeast Asian countries" on his hands.

Old Man Suo only responded: He was just acting according to "market rules" and even reminded him "coldly":

Those countries that have huge and fatal loopholes in those financial systems themselves should reflect on the "vulnerability origin" and complain that the market is not supplemented.

Even though the clue fund organization is not 100 % security, there is a saying in the "Hong Kong stock god": good people do not make money, and they are usually not good people.

Although the assassination is not without, but one short of one will kill one, and there will be no internationally famous short groups that are risky to engage in this operation.

If the British really found Xu Luo's head, he was not afraid of it.

At most, it may be stumbling by the British, but this is just the beginning.

Because playing finance is not scary.

It's not just a way to run, the next step is to attack the pound.

At this time, he had asked his people to repurchase Hong Kong dollars at a very low price at a very low price, and returned the money borrowed to leave the market.

When borrowed, it was more than 7 dollars against more than 7 Hong Kong dollars. It is now $ 1 against 20 Hong Kong dollars. There are nearly 13 profits in the middle.

Use the waist to buy the price of 31.5 billion Hong Kong dollars, and the brain still goes up.

The simplest calculation method, according to the original price, the 31.5 billion Hong Kong dollars is worth $ 4 billion.

And now it only takes 1.6 billion US dollars to pay the debt.

Even according to this simplest calculation method, so one after another, earn 2.4 billion US dollars.

But there are places that can be operated on the stock market.

Although Xu Luo has stopped selling, the doom over there has just begun.

Since the Hong Kong dollar has depreciated at this time, the pressure on foreign debt of the bank has doubled sharply. In just two days, 5 banks announced the closure;

They are Hang Lung Bank, Overseas Trust Bank, Kangnian Bank, Yongan Bank, Carnival.

The closure of the bank made a large number of enterprises announce the broken capital chain and reflected on the stock market. The Hang Seng Index almost cut off.

The Hong Kong dollar has depreciated sharply, the prices are soaring, the public sells Hong Kong dollars, purchases the US dollar, and buys goods and materials.

In addition, the British do not have any monetary management mechanism at all, that is, the Hong Kong and British government cannot actually control the exchange rate or the currency basis. Therefore, the decline in the Hong Kong dollar seems to be out of control.

Most of those citizens walking on the street are expressionless, like walking dead.

It can be described by all over the day.

Yude, who returned to Hong Kong in advance, had to deal with the stones that started to move and hit his feet.

The exchange rate of the Hong Kong dollar has fallen so terrible. If it fell again, the status of the pound is at stake.

And the financial system that finally established will collapse.

Countless reporters gathered at the gate of the Hong Kong government, hoping to get news that would stabilize people's hearts.

In the eyes of everyone, Yoder stood in front of everyone.

The look on his face was solemn and he was in a bad mood.

Because he, or Mrs. Thatcher, did not expect that this card would fall into his hands.

This economic card is not played recently. As early as last year, when the depreciation trend of the Hong Kong dollar was already very obvious, the British Hong Kong authorities actually canceled the interest tax on foreign exchange deposits and only symbolically lowered the interest tax on Hong Kong dollar savings.

This makes exchanging and storing foreign currencies more profitable, almost leading people to abandon Hong Kong dollars and buy foreign exchange.

What is the real purpose behind this series of operations by the British is known only to the parties involved.

What is certain is that currency has become a tool that can not only put pressure on opponents in practice, but also build momentum for oneself in public opinion.

Therefore, not only did the British fail to take measures to stop losses, they even had the intention to deliberately magnify the crisis.

But the crisis suddenly became infinite.

It's so big that they have to bail out the market, and they have to spend even more money to bail it out.

In one and a half working days, the Hong Kong dollar plunged nearly 45% against the US dollar.

Stabilizing the exchange rate has become the biggest goal now.

"Gentlemen and ladies." Youde said in a serious tone, "In the past two days, some bad things have indeed happened, but we are already taking some measures."

He said: "In the first step of the plan, we have placed a huge amount of foreign exchange buying orders to agent banks to support the Hong Kong dollar."

"The second step is to establish a new exchange rate system."
Chapter completed!