Chapter 114: The Death of the Pound
In the light of the = early sun, Scott Bether, a portfolio manager who had been in London, also arrived in the office, and he could see the tall silhouette of the boss standing in the office. Druckenmiller was taking off his coat, and the shadow behind him was stretched infinitely. The only voice in the office came from the phone, on the other end of the phone, Soros, and Druckenmiller turned on speakerphone, and an unreal Eastern European accent filled the dark room, and Soros urged Druckenmiller to sell his pounds as soon as possible.
"Damn. Haven't you been in touch yet?"
London, Treasury Building.
Lamont roared at his assistants, and the pound fell by more than 29 percent in a day, which means that every few minutes, the country loses hundreds of millions of pounds.
Italy were lucky to be in trouble on Friday, with a two-day break over the weekend giving them a respite. But now Britain is in the same precarious situation, and unfortunately on Wednesday.
This leaves Lamont without time to negotiate the reintegration of the pound into the European Exchange Rate Mechanism, which will involve lengthy coordination with other European governments, which will take a lot of time, but with every minute that passes, the massive transfer of wealth from taxpayers to traders continues.
There are still two days to go until the weekend, but one can imagine how torturous these two days will be, and at the current exchange rate in the United Kingdom, if the pound that is constantly selling in the market cannot be paid, the whole of Great Britain will go bankrupt.
The only way is to unilaterally withdraw from the European Exchange Rate Mechanism, but this would require the Prime Minister's approval.
But the result was very annoying to Lamont, and he and his assistants kept calling the prime minister's office to emphasize the urgency of the meeting, but no one answered, and the prime minister, Sir John Major, who led the cabinet, disappeared as if he had disappeared from the world, and could not be contacted at all.
"Bastard, keep beating me. ”
Due to the urgency of the situation, the assistants could only stare at the pressure brought by Lamont and call the prime minister's office again and again.
As a result, it's a pity.
No matter how the assistants called, there was no answer on the other end of the line.
It's irritating.
Fortunately, the Ministry of Finance was not too far from the Prime Minister's residence, so Lamont had to personally lead the advisory team out to the Admiralty Building to ,—— a Georgian-style building, the Prime Minister's temporary residence.
At the same time, the Admiralty Building.
Dozens of bodyguards and advisers in suits and leather shoes walked back and forth in the building, their steps hurried, their eyes wide open, as if they were looking for something.
Twenty minutes ago, SirJohnMajor was still in the office, but suddenly, he disappeared as if out of thin air.
That's right, just disappear into thin air.
After receiving a call from Lamont, SirJohnMajor's secretary knocked on the prime minister's office to inform the news of the collapse of the pound, and not long after, SirJohnMajor disappeared.
"Kevin. Are you sure Mr. Prime Minister has never left the building?"
In the elevator room, Admiralty Building Security Captain Kevin Rosen was questioned again by the SirJohnMajor cabinet members, and the MI6 Major had to repeat the questions he had already asked several times.
"Gentlemen. I am very sure of this, and the monitoring center has also reported that His Excellency the Prime Minister has not left the building, and his car has not been moved in the parking lot. ”
Kevin Rosen's tone is a little unkind, anyone who is asked the same question all the time will definitely be in a bad mood, not to mention, although the security of Sir John Major is not his responsibility, but now, the prime minister suddenly disappeared in the Admiralty Building, it is definitely a big black cauldron.
Bank of England, Market Transactions Department.
Robin Leigh Pemberton looked like a homeless man on the street who had just been robbed, dejectedly holding a long statistic.
With every minute passing by the pound being sold to the Bank of England and the central bank being forced to buy a currency that is sure to depreciate imminently, Great Britain is massively shifting money from long-suffering taxpayers to a group of global traders.
This is a very brain-dead behavior, knowing that he is going to lose money but keeps buying, Pemberton deeply feels that his IQ is like being pressed to the ground and constantly rubbed.
But he had to do it, because he had to do it according to the rules of the exchange rate mechanism, and now he no longer expected the pound to get out of the bottom zone, but only to provide a little less liquidity for Shen Jiannan and his accomplices.
Every minute and every second becomes extraordinarily long.
The feeling of being robbed and having to move out of the house, and even having to go to someone else's house to borrow money to hand it over to the robbers, is simply devastating.
The pound plummeted 29.5 percent in a single day, and as news spread around the world on the phone and on the Internet, I don't know how many finance ministers were woken up from their dreams.
Will it bottom out if it falls too much?
NO。
It was never like this.
Never.
But one thing is for sure, as an old industrial power in Europe, the impact of the collapse of the British currency is absolutely enormous, and its collapse has already begun, and it may be too late to stop it.
The dangers of economic crises in financial history have been documented in textbooks, and even spread throughout the world under the influence of mechanisms, as was the case in World War II.
For a variety of reasons, central banks around the world have worked hard to closely monitor movements in financial markets.
Of course, not all countries are worried about this nervousness.
Bangkok, Thailand.
Due to the time difference, it was already 7 p.m.
The sunset floats on the Sea of Andeman, and the huge red sun emits a gentle glow that reflects the sea surface red, which looks particularly beautiful.
But when you look at the towers in Bangkok, it seems that the sun is about to sink into the sea at any moment.
Bangkok, Treasury Building.
The newly appointed Minister of Finance, Kathson, and the newly appointed Governor of the Bank of Thailand, Sonny, sat together, their faces full of unconcealed excitement, and the red light shone on their slightly tanned complexions, which looked like a greasy golden glow.
The United Kingdom, one of the core members of the European Community, and the share of the pound in ECUs is even greater than that of Germany and France, and now the pound has lost 29% in a single day, which means that the pound will be forced to withdraw from the European common economy.
This is undoubtedly a huge opportunity for Thailand.
The world is so big, the five Nordic countries are now in the economic quagmire, Eastern Europe is still licking the wounds of division, and now Southern Europe and the United Kingdom are in the dilemma of currency collapse.
Capital is chasing profits, and if the entire European economic landscape is in turmoil, that sense of insecurity will inevitably prompt profit-chasing capital to flee Europe.
"Sonny. It's a once-in-a-lifetime opportunity for us to do something big, don't you think? ”
"I think so too, the UK is like the sun is about to set on the sea, and we can attract more European capital to Thailand. ”
"Is there anything I need to cooperate with?"
"When I was doing economics in the United States, I found that the economy of the United States is largely driven by financial markets, and we can deregulate more financial and attract European capital to Thailand. ”
As he spoke, the expression on Sonny's face grew excited.
"If I can, I hope to speed up the construction of an offshore financial center, as long as we open up more convenient conditions, Bangkok will have the opportunity to surpass Singapore and Hong Kong and become the financial center of Asia. ”
“......”
“......”
"At that point, we can even become the real dominant player in ASEAN. ”
“......”
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