Xia Xiaoluo didn't know that he had become the center of a vortex of gossip among many middle school students in Xinyang No. 1 High School. He was sitting in the classroom of Class 1, Grade 3, listening to a teacher on the podium speaking hoarsely about the mathematics of permutations and combinations.
The question was very loud and spitting. Xia Xiaoluo was worried that he would be short of oxygen for a moment and die. Damn, it was so boring.
Not far away, He Shiyun was listening to the teacher's lecture seriously, with a very serious look on her face. Her crimson face was beautiful, and a little sweat appeared, which made her skin look very shiny, but not greasy at all. A beauty is a beauty, even
Even sweating looks so good.
The teaching conditions of Xinyang No. 1 High School are much better than those of Luoshui County No. 1 High School. However, Tian Fengcai is not around. Thinking of his old friend, Xia Xiaoluo can't help but feel a little depressed. He and Tian Fengcai have not been together for a long time.
But he admired Tian Fengcai's character very much. He asked Lei Lei and others to give Tian Fengcai a thousand yuan. He was in his third year of high school and this birdie needed to supplement his nutrition.
Xia Xiaoluo's mind was already wandering, and the thoughts in his mind were all about Soros's attack on the pound. Later generations of financial writers wrote a lot of blood-stirring things when talking about this matter.
Flamboyant words, such as "Gamble of the Century", "One man brought down the Bank of England", etc. When people see these words, their adrenal glands secrete more and they become very excited.
As a pseudo-financial history expert, Xia Xiaoluo is of course familiar with these. Combining the relevant information provided by Hu Shuwen some time ago, he can clearly sort out the context of this event that shocked the world——
On February 7, 1992, 12 EU member states signed the Maastricht Treaty. This treaty made some European currencies such as the pound and the Italian lira obviously overvalued, and the central banks of these countries will face
Under the huge pressure to cut interest rates or depreciate, can they maintain coordination in economic policies with Germany, which has strong economic strength? Once the markets of these countries are turbulent and they are unable to resist, Germany, as a core country, will sacrifice its own national interests to help
These countries?
As early as the signing of the Maastricht Treaty, Soros had foreseen that the European exchange rate system would be difficult to maintain coordination due to the economic strength of each country and their respective national interests. Once some "chains" of the European exchange rate system were formed
"When there is a loosening, speculators like him will take advantage of it and launch an attack on these loose "chains", while other trend followers will also follow the trend, making the exchange rate more volatile. Ultimately, reliance on the trend-chasing mechanism will
much larger than the market can accommodate them, until the entire system is destroyed.
Sure enough, less than a year after the signing of the Maastricht Treaty, some European countries found it difficult to coordinate their economic policies. When the British economy was in a long-term recession and was facing many difficulties, the British could not
It is possible to maintain a policy of high interest rates. To stimulate the country's economic development, the only feasible way is to lower interest rates. However, if Germany's interest rates are not lowered and the UK unilaterally lowers interest rates, it will weaken the pound and force the UK to withdraw from the European exchange rate system.
At this moment, Soros and other speculators have been increasing the size of their positions in the past few months in preparation for attacking the pound.
As time went by, the British government's economic policy of maintaining high interest rates came under increasing pressure. It requested the German Bundesbank to lower interest rates, but the German Bundesbank was worried that cutting interest rates would lead to domestic inflation and may trigger an economic collapse.
Rejected UK's request to cut interest rates.
The British economy is declining day by day. The British government needs to devalue the pound to stimulate exports. However, the British government is restricted by the European exchange rate system and must try to maintain the exchange rate of the pound against the mark. The British government's high interest rate policy has been questioned by many financial experts, and the domestic business community
Leaders also strongly called for lower interest rates. In
In the second quarter of 1992, although British Prime Minister Major and the Chancellor of the Exchequer repeatedly reiterated on various public occasions that the current policy remained unchanged and that the United Kingdom had the ability to keep the pound within the European exchange rate system, Soros was convinced that the United Kingdom could not keep it in the European exchange rate system.
As for its position in the European exchange rate system, the British government is just bluffing.
The exchange rate of the pound against the mark continued to fall, from 2.95 to 2.85, and then from 2.85 to 2.7964. In order to prevent speculators, the British government made the exchange rate of the pound to the mark lower than that in the European exchange rate system.
The prescribed lower limit was 2.7780, and the Bank of England was ordered to purchase 3.3 billion pounds to intervene in the market. However, the government's intervention did not generate good expectations, which made Soros more convinced of his previous judgment, and he decided to attack when the crisis emerged.
In September 1992, speculators began to attack the weak currencies in the European exchange rate system, including the pound sterling, the Italian lira, etc. Soros and some mutual funds and multinational companies that had long-term arbitrage operations sold weak European currencies in the market, causing
The central banks of these countries had to spend huge sums of money to support the value of their respective currencies.
Soros was the biggest gambler in this "gamble". After placing his bet, Soros began to wait. In mid-September 1992, the crisis finally broke out. Rumors that the Italian lira was about to depreciate were circulating in the market, and there was a large amount of selling of the lira.
.On September 13, the Italian lira depreciated by 7%,
Although still within the floating range defined by the European Exchange Rate System, the situation looks very pessimistic. This gives Soros ample reason to believe that some member countries of the European Exchange Rate System will eventually not allow the European Exchange Rate System to determine the value of their own currencies.
, these countries will withdraw from the European exchange rate system.
On September 15, 1992, Soros decided to short the pound in large quantities. The pound-to-mark ratio fell all the way to 2.80. Although there was news that the Bank of England purchased 3 billion pounds, it still failed to stop the pound's decline. By the end of the evening, the market closed
, the pound-to-mark exchange rate has almost fallen to the lower limit stipulated by the European exchange rate system. The pound is on the verge of exiting the European exchange rate system.
The British Chancellor of the Exchequer has taken various measures to deal with the crisis, but with little success. The exchange rate of the pound still fails to stand at the lowest limit of 2.778. In this action to defend the pound, the British government used value
26.9 billion US dollars in foreign exchange reserves, but ultimately suffered a disastrous defeat and was forced to withdraw from the European exchange rate system. The British called September 15, 1992, the day they withdrew from the European exchange rate system, Black Wednesday.
Soros is the biggest winner in this attack on the pound. He was once called the man who brought down the Bank of England by The Economist magazine. Soros has made nearly 1 billion U.S. dollars in profit from the pound short trade. In the United Kingdom, France
His long trades on German interest rate futures and short trades on the Italian lira brought his total profit to US$2 billion, of which Soros' personal income accounted for 1/3. During this year, Soros's fund grew by 67.5%.
This battle made Soros famous and earned him a reputation as a financial genius.
Judging from the information provided by Hu Shuwen, although Xia Xiaoluo has changed many historical events in the domestic financial industry, the international environment has not changed. The "Maastricht Treaty" has been signed, but its internal contradictions remain the same.
It is irreconcilable and the inherent loopholes are still clearly visible.
Of course Xia Xiaoluo will not miss this major business opportunity. More importantly, he admires Soros very much. He is willing to join the Soros army and even replace Soros as the main force. Soros has caused huge losses to many countries and regions.
, However, Xia Xiaoluo did not think that Soros had any fault. Soros just discovered the market's mistakes and corrected the market back to the normal track.
Xia Xiaoluo's hands felt itchy when he thought of sniping at the British pound with his energy piercing the rainbow. However, at this moment, he could only sit in his position and twist his body - it was reminiscent of the symptoms of ADHD in children.
Before setting off from Shenzhen, he had notified the secret shareholders of Tianxia Group, Cao Weiye, Huang Zhuo and others, to come to Xinyang City to attend the board meeting. Cao Weiye, however, was on official business and was fully represented by Huang Zhuo; he came to attend the meeting at the same time.
Also included are Hu Shuwen, Yang Jingchu, who is a graduate student in corporate finance at the University of Pennsylvania, and Goldman Sachs partner Lin Fengcheng.
It is worth mentioning that when Lin Fengcheng underwrote the shares of Huang Zhuo's Beer Group, he once again helped Xia Xiaoluo.
Xiao Luo opened a hundred
The sky-high price of 10,000 US dollars, don’t think it’s unfair. Xia Xiaoluo knows Goldman Sachs’ position in the industry. Although Xia Xiaoluo is prosperous in the domestic financial industry, such regional and even global financial activities still require
On the other side of the phone was the respectful voice of Zhang Cheng, general manager of the Red Coral Hotel - "Master Luo, Master Huang Zhuohuang has arrived just now. We sent a car to pick him up at the Wuhan Airport. At the same time, there are people from our hotel at the Wuhan Airport.
Waiting for Miss Hu Shuwen. At the same time, Han Yaoyao, the financial director of the group company, is also on the way and will be at the hotel soon. Look..."
"Yeah. Very good. These are my good friends, so we can't neglect them. By the way, where is Mr. Lin Fengcheng?" Xia Xiaoluo asked.
"According to your instructions, we called Mr. Lin Fengcheng three days ago. He said that if it was not convenient for our company to pick him up, he would drive over by himself." Zhang Cheng replied respectfully.
Xia Xiaoluo nodded and thought to himself, in the eyes of the Lin family, Lin Fengcheng is a true traitor and has completely separated from their family. The Lin family has many eyes and ears in China. If Lin Fengcheng is found to be involved with the Cao family, after all,
Not beautiful. So he said: "Then just do as he asks..."
"Mr. Huang is waiting for you at the hotel. Do you want to come over and accompany him first?" Zhang Cheng reminded him. In Zhang Cheng's view, Huang Zhuo is also a distinguished guest of Tianxia Group, but he did not know that Huang Zhuo was a shareholder of Tianxia Group.
, I feel that we need to receive guests with a high standard and ensure business etiquette.
"No need. We are all old friends." Xia Xiaoluo said calmly. "Let him wait first."
This sentence shocked Zhang Cheng on the other side of the phone. Damn, Master Luo was born with a pair of eyes. In his eyes, there was no one worthy of his high regard.
Zhang Cheng already knows Huang Zhuo's identity. Huang Zhuo has been making a lot of noise recently. Taking advantage of the reform and opening up, Huang Zhuo relies on the Hong Kong listed company Huace Group to integrate and acquire shares of state-owned enterprises, and then gets listed on the international capital market.
Zhang Cheng naturally understands his wealth and these deeds.
But even such a talented person is "unnecessary" in Xia Xiaoluo's eyes.
Zhang Cheng is very glad that he has followed the right person. Although Tianxia Group has not yet made any move in the electronics industry, Zhang Cheng believes that if Tianxia Group makes any move, it will be earth-shattering.
Xia Xiaoluo hung up the phone, went to the toilet to pee, and then walked to the classroom.
As soon as he arrived at the door of the classroom, he saw a beautiful woman standing next to He Shiyun's seat. The two were biting their ears. He Shiyun lowered his head with a shy look on his face, and the beautiful woman was also giggling.
Seeing Xia Xiaoluo come in, the beauty smiled sweetly at him and said, "Are you Xia Xiaoluo?"
Xia Xiaoluo nodded, and He Shiyun turned her head and said: "Xiao Luo, this is our English teacher, Teacher Du."
Xia Xiaoluo smiled at Teacher Du and said, "Hello, Teacher Du."