Seeing that the 10 billion US dollars of foreign exchange reserves in his hand were all poured in a short period of time and 20 minutes, but still could not raise the exchange rate of the British pound, but instead reduced the exchange rate from 2.8560 points to 2.8480 points, a drop of 80 basis points, Sir Norman's heart was full of despair.

The power of those financial predators is more powerful, more resilient, and more decisive than he imagined. He wasn't given the slightest chance at all.

During the entire 20-minute contest, except for the first minute, when he succeeded in raising the pound exchange rate by 40 points, the pound exchange rate was steadily declining at a rate of 2 basis points and 3 basis points per minute.

Especially in the last five minutes, it was falling at a rate of almost 10 basis points per minute, and it is obvious that the chart of the pound exchange rate is still declining, so that some retail investors who are still waiting and watching choose to sell the pound, which will cause such a result.

There was even more silence in the trading room, almost everyone's eyes widened, some did not dare to accept the reality in front of them, the adrenal effect had dissipated, and they had also woken up from the heroic dream of saving the British Empire.

Far from saving the British Empire, they were even heroes for only twenty minutes, and those twenty minutes came at the cost of $10 billion in foreign exchange reserves.

At this time, they suddenly became afraid, the foreign exchange reserves of 10 billion US dollars are so huge that they occupy almost one-ninth of the British Empire, and less than one-eighth of all foreign exchange reserves.

To put it mildly, tens of millions of people in Britain work hard, and there is only so much foreign exchange surplus in a year.

However, the most important thing is that it is useless to pay such a big price, and the 2.8480 on the chart is like a slap in the face, and it hurts hotly.

I don't know what suddenly came to mind, everyone looked at Sir Norman in unison.

At this moment, Sir Norman is not only their only backbone, but also the only straw.

"I will ask Prime Minister Major again for the funds to continue to save the pound!" Sir Norman gritted his teeth and said resolutely, looking at these eyes full of expectation.

Looking at Sir Norman's back without turning back, full of tragedy and desolation, everyone's hearts were full of bitterness at this time.

When did the British Empire fall to such a point of slaughter?

Less than ten minutes after he lay down again, the emergency phone in Prime Minister Major's bedroom rang again, and the piercing sound was unusual, and Prime Minister Major felt his heart twitch and even sting, like a small saw sawing back and forth on it.

Sitting up from the bed, Major refused the help of the chamberlain, and instead got up to answer the phone himself.

Hearing Sir Norman's voice coming from the other end, Major felt his heart stop beating for two seconds.

In his eyes now, Sir Norman was like a death bird under the command of the Grim Reaper, and a phone call would be fine.

Although he had adjusted his mentality and prepared for the storm, hearing that Sir Norman had spent ten billion dollars in foreign exchange reserves in twenty minutes, Major's blood pressure instantly increased a lot, and he felt dizzy and dizzy, and even felt that his eyes were dark!

A few seconds later, Major was furious, and said, "Sir Norman, do you know what you have done? You have spent all the 10 billion dollars of foreign exchange reserves in 20 minutes, do you know how much the British Empire's tens of millions of citizens have to pay for these 10 billion dollars?"

He had just felt that Sir Norman had almost sent him to God!

Ten billion dollars is by no means a small number, after all, after so many years of accumulation, such as the British Empire, a number of economic powers in the world, has only saved up more than $80 billion in foreign exchange reserves.

As for countries like China and India, which are also ranked around 10th in the world economy, they are large but not strong, and they do not even have $10 billion in foreign exchange reserves, and they often even need to borrow from the international community for $2 or 3 billion in foreign exchange reserves.

And more importantly, if the pound exchange rate really depreciates, then the foreign exchange reserves in his hands are the only thing that the British Empire has added value in this crisis, and even an important ballast stone to stabilize the economy and stimulate economic development in the future!

It is the most important and valuable resource of the United Kingdom!

"I know!" said Sir Norman, in a deep voice.

But then, his voice changed and he said in a loud voice: "But what I know more is that the pound exchange rate must be saved! And now the problem is that the $10 billion foreign exchange reserves you gave me, Mr. Prime Minister, cannot raise the pound exchange rate in 20 minutes, which shows that the bears, those financial predators, are more powerful than we think! If I don't do this, the situation will be even worse!"

"You have to come up with more viable policies now!"

Sir Norman struck with a series of bombardments, and Major's tormented head was instantly stunned.

The words 'I was reprimanded' kept echoing in my head.

Since he became the Prime Minister of the United Kingdom, no one has dared to reprimand him to his face like this!

Not one, not even Her Majesty.

Although he is nominally Her Majesty's Prime Minister, he is elected by the people and Her Majesty no longer has any right to reprimand and order him.

Since the Glorious Revolution of 1688 established a constitutional monarchy, England has had no royal voice.

In a trance, he suddenly felt that he was back five years ago, when he was not the Prime Minister of the United Kingdom, not even the Minister of Finance or Foreign Minister, but just a small person with shallow qualifications who had been promoted to the cabinet as Secretary General of the Treasury.

That's how Margaret Thatcher, his Bole and cultivator, reprimanded him.

Shaking his head, he threw these ridiculous thoughts out of his mind.

He is no longer in five years, he is now the Prime Minister of the British Empire, and he must shoulder the responsibility of Prime Minister!

But it didn't delay, he had the urge to make Sir Norman compulsorily retired!

However, he soon retracted this idea, because he knew deep down that if he did not want to withdraw from the European exchange rate system, slap himself in the face, lose his face, and lock the exchange rate of the pound above 2.7780, then his best choice was Sir Norman!

"Sir Norman, what are you going to do to save our exchange rate, and most precisely, how much foreign exchange reserves are needed!"

Foreign exchange reserves are important, but for the sake of the pound exchange rate, in order not to let the pound out of the European exchange rate system, for the sake of his face, he decided to abandon the protection of foreign exchange reserves.

That is, now, in order to preserve the pound exchange rate, he does not mind spending another ten billion, or even ten and five billion dollars, in foreign exchange reserves.

After all, this is also for the sake of the British Empire, Major comforted himself in his heart.

Hearing this, Sir Norman's tense heart instantly relaxed a lot, and he also took a great risk to reprimand the Prime Minister in such a tone, just like touching a tiger's buttocks.

Luckily, he succeeded.

"I need another $20 billion in foreign exchange reserves! And I need you to raise the interest rate on bank deposits. Sir Norman said in a deep voice.

At the speed of engulfing 10 billion dollars in just 20 minutes, it is obvious that if there is little ammunition, it will definitely not be enough.

However, he was not particularly pessimistic in his heart, after all, although he had consumed 10 billion US dollars in foreign exchange reserves, the other party would inevitably have to pay a lot of price and consume a lot of ammunition.

If he can secure $20 billion in foreign exchange reserves this time, coupled with such favorable policies as raising bank deposit interest rates, he still feels quite hopeful that he will be able to save the pound exchange rate.

After all, whose ammunition is not unlimited.

Although he was ready to completely get out of the way, when he heard about the 20 billion dollars, Major still felt that his heart was hit hard!

And what surprised him even more was that he hadn't agreed to raise the deposit rate before, and why did Norman still say that.

When Major asked his question, Norman said bluntly: "Not enough! A 1% increase in the deposit rate is not enough! I need you to increase the deposit rate by 2%, or even 3%!"

He has now completely woken up to the fact that only a real, hard-hitting blow at all costs can save the pound's exchange rate.

Hearing this, Major on the other end of the phone suddenly fell silent, leaving only the sound of thick breathing echoing in the phone.

"Two billion dollars is too much, I can only agree to grant you the right to use ten billion dollars of foreign exchange reserves, but the interest rate on bank deposits is 2%, at most 2%, Sir Norman, as the governor of the Bank of England, you naturally know how much high interest rates are harmful to the British economy!" Major said through gritted teeth.

Raising the interest rate on bank deposits is a double-edged sword!

While the increase in the bank rate will help people to exchange all their currencies for pounds, giving people confidence in the pound exchange rate and raising the pound rate, it will also increase the interest rate on bank loans.

Once the loan interest rate is raised, it will not only increase the repayment cost and financial pressure of enterprises, reduce profits, but also reduce people's enthusiasm for investment and business, thereby affecting the economic development speed of the United Kingdom, and in serious cases, it will also cause inflation and even economic crisis.

But he also knew that this was already a situation in which Britain could use a few weapons.

If only the damn Germans would have agreed to help.

He's so hard!

Major sighed helplessly.

"I know, I will not fail your trust and the hard work of the people of the British Empire!" replied Sir Norman crisply.

Although the results were a little worse than he expected, especially the foreign exchange reserves that could be used were only 10 billion dollars.

But it doesn't matter.

Since the money is in his hands, how to use it is his business.

If you don't have enough money, it's good to make a phone call again, as you are now.

It's as simple as that.