In front of television cameras from around the world, Lamont held a press conference in the central courtyard of the Ministry of Finance to announce the UK's withdrawal from the exchange rate mechanism.

The market wins, the speculators win, and the government finally realizes it.

Everyone is aware that England's battle to defend the pound has failed, and the Bank of England has raised interest rates at unprecedented rates and invested at least $27 billion in efforts, but the pound has been completely crushed.

It was a moment of shame and a moment of despair.

At least for those who are long the pound or firmly believe that the pound will not depreciate, the moment is almost devastating.

"How so?"

"Didn't you say that the pound would never leave the exchange rate mechanism?"

“......”

In the small town of Swinton, a middle-aged man in his fifties watched Lamont's speech on the television and muttered to himself as if he had lost his soul.

The middle-aged man, Barnet, was a senior fitter in a factory in town, who was born in Swinton, lived in Swinton, grew up here, married and had children here, and spent fifty years there.

Although he only has a secondary school education, he loves Swinton and the country.

So, in one day, he took out all his savings and opened a long position in the futures market on the pound.

To go long is to be patriotic, isn't it?

It's a financial invasion war.

Great Britain is being plundered by international speculators, and as a British, what reason should there be not to take up arms against plunder and destruction!

What's more, the Chancellor of the Exchequer also said that the government will never allow the pound to withdraw from the European exchange rate mechanism, and the plight of the pound is only temporary, and the pound will definitely not depreciate.

But now, what is it?

Bell Bell Bell –

The shrill phone rang in the living room, and Banai unconsciously walked to the phone and picked it up.

"Hey, is this Mr. Banai?"

"It's me. ”

Sean Wood on the other end of the line breathed a sigh of relief when he heard Barnet's answer, he had made three calls before, but all three were due to no answers.

The pound fell by more than 40 per cent in a single day against the mark, a terrible drop unprecedented in the history of the pound. As a professional risk controller in the futures markets department of NatWestminster, he is well aware of what this could mean.

Thankfully, Mr. Barnay is fine.

With a sigh of relief, Shaun Wood continued to speak in as calm a tone as possible.

"Hello Mr. Barnet, I'm Sean Wood, a risk controller at the Foreign Exchange Futures Asset Management Department of NatWestminster Bank, and since you have a short position in the futures position of the pound to the mark, the available funds are minus 34,000 pounds, and according to the investment agreement you signed, you need to make up the outstanding margin within three trading days. ”

Owed margin?

The confused Barnay was instantly enraged by Sean Wood's words.

"Damn, how can I owe money, what are you guys doing risk control? I've read the agreement, if the loss reaches 70%, you will be forced to close the position, how can I owe you money. ”

"I'm sorry, Mr. Banai. I understand your feelings, but you can't blame us. This is a market that has never been seen before, so ...... You're really out of position. The closing order will be delivered to your address tomorrow, but before that, you are required by law to make up the margin owed, and if you do not do so, we have the right to freeze all property in your name. ”

Shaun Wood is telling the truth.

In the afternoon, a super sell order of 66666 suddenly appeared in the market, which directly smashed the exchange price of the pound to the mark by thousands of basis points.

God knows, they really can't be blamed for this.

But for Banai, this is another matter, all the belongings are lost and there are huge debts, which is unacceptable to anyone.

"Nyima. You despicable bandits, you damned liars, I'm going to sue you. ”

"Banai ....."

Bang!

The phone was hung up.

Shaun Wood looked at the phone in his hand and shrugged his shoulders helplessly, as a financial practitioner, he has long been used to being scolded, anyway, it doesn't matter, if Banai can dissipate his anger.

Face?

That's something that only children care about, and if you want face, there's no need to choose the financial industry.

Pressing down on the phone, Wood looked up at the Reuters screen not far away.

Pounds to pounds.

2.3035.

A meaningless number.

But Wood couldn't help but smile on his face, a week ago he heard the news from a colleague by chance, and opened a sell position of 120,000 on the pound, and now this profit has risen by 300%.

It's just wonderful.

"Sean. Would you like to go out for a drink later?"

A colleague not far away asked, cleaning up the table.

Wood grinned, revealing a mouthful of silver-white teeth.

"Of course. I know a bar with great cocktails and hot girls that you're going to love. ”

“......”

Banai, who was sitting on the sofa in a daze, didn't know that the guy who had just called him was going to go to the bar after work to fool around, and scolded angrily, and his reason made him feel like his blood had been drained all over his body, and he no longer had any energy.

Sue the bank?

What are you kidding, banks have always been a vulnerable group, and the courts have always favored the disadvantaged in their judgments, so how can they win the lawsuit.

However, 340 million pounds, so much money, how can you pay it back?

Three trading days.

Barnet is well aware that if he doesn't pay the money in three trading days, the bank will really freeze all the property in his name, including his current house.

In that case, where should the wife and children live?

Rising from the couch, Banai walked over to the wine cabinet like a walking corpse and picked up a bottle of liquor. The spicy liquor slammed into his throat, and a large flush appeared on his face with irritation.

A wave of dizziness swelled over him, and Banai staggered to the bedroom with the wine bottle in hand, leaning back on the bed in a daze.

One minute......

Two minutes......

Three minutes.

I don't know how long it took, but Banai looked at the alarm clock at the bedside and pulled out a pistol from under the bedside.

The revolver, already loaded with bullets, has a cold texture when the black metal falls on the palm of the hand.

Looking at the pistol in his hand, Banai took a large sip of the spirits, and the fierce strength of the whiskey made a hideous look appear on his face.

If you want to take my house, dream about it!

Bang - gunshots rang out!

In the dim light, Banai lay quietly on the bed and did not move again, only the wine bottle in his hand that silently stained the red sheets seemed to witness everything.

In the first half of September, the Bank of England spent $27 billion in foreign exchange reserves in an effort to defend the pound, a significant part of which was depleted on the last day of exit from the exchange rate mechanism.

However, due to Great Britain's withdrawal from the exchange rate mechanism, monetary policy is no longer subject to any constraints, the Bank of England canceled two interest rate hikes, the interest rate fell back to 10% once, and no longer bought pounds, and the pound is like a kite with a broken string sinking towards the abyss.

In just three days, the free-falling pound plummeted by 32 percent.

This is a reasonable and unreasonable outcome, but it is an unaffordable outcome for the British Cabinet government.

Over the course of three days, crime in Great Britain and Ireland increased exponentially, with at least three people killed almost every hour.

What is even more ironic is that the liquor market has been revitalized as a result.

In the Admiralty Building, Sister John May sat in the conference room with a gloomy face, her unkempt hair and dull eyes proving that he had been resting badly lately.

The free-fall pound has bankrupted many people, and the demonstrations on the streets have shocked the government several times, and Major himself has been unanimously questioned by the public and the media, and some media have even directly named the Major government's policy of promoting Britain's accession to the European Community as a traitorous act.

"He's the biggest short in the market, and I suggest you call him in and talk about it, which will help the situation. ”