The other side of the Atlantic. The sun rises over Manhattan and makes the day the best way to start the day. The air is clear and sunny, and the breeze with a hint of humidity as the sea breeze blows is particularly pleasant.

George Soros and Stanley Druckenmile walked back and forth into the Quantum Fund, and when they saw a fax on the desk, they smiled heartily.

It's all the news that the Bank of England has raised interest rates, and the UK interest rate has been raised from 10 percent to 17 percent in just one day, like a dying man, and it is clear that this is a signal that things are coming to an end - to the last moment to desperately sell the pound. Thinking of the huge profits that can be made by selling the pound at this time, the two of them can't help but get excited despite the fact that they have already experienced many storms.

George Soros pulled out a pack of cigarettes and a box of cigars from a drawer and gestured to his successor.

"Didn't you quit smoking, George?"

"Shouldn't this be the time to celebrate?"

"Haha...... More than happy to accompani. ”

"Haha......"

The two chatted happily, George Soros smoked a cigarette that he hadn't smoked for a long time, and Stanley Druckenmile picked up a cigar and lit it a little rustily.

The nicotine flavours are not the same as the leaves of a cigar, but for both of them, the flavours are equally wonderful, and as you can imagine, throwing more pounds at this point would mean a huge profit waiting for them.

"Clark, could you please come to my office? ”

Smoking a cigarette, Drucken-Maitreya picked up the phone and contacted Tom Clark, the head of marketing, a former central bank governor from Banco do Brasil and now runs a lot of business at the Quantum Fund.

Bang bang –

Not long after, there was a knock on the office door, and Tom Clark pushed open the office door as Drucken Maitreya greeted him.

He didn't look very good in spirit, his hair was unkempt and his eyes were tired, a bit like he had just woken up from a train station hotel.

However, Drucken Maitreya and Soros didn't realize anything, Tom Clark often fooled around in nightclubs, and he was naturally not in good shape if he worked all night at such an age.

"Clark, would you like a cigarette?"

"Boss, I suggest you take a look at the market now. ”

"Walter?"

“......”

Realizing something, George Soros and Stanley Druckenmile turned on the computer monitors that they had turned off at night.

The dark screen flickered a few times, and a familiar interface appeared in the monitor, but the picture displayed in the interface made the expressions on the faces of the two people very exciting.

GBP: Mark, 2.5835, down 29 percent

GBP: USD, 1.7895, down 27.5 percent.

Staring at the price of the pound on the computer, Soros and Druckenmillya were silent for a long time, and only after a long time did they glance at each other, like two stunned owls. They expected the pound to fall by a maximum of 15 percent, but now it has completely exceeded their expectations.

The cumulative decline, calculated from 2.976, is already as high as 17%.

How so?

George Soroston was overwhelmed.

Shorting, the market falls, and theoretically it is bound to make money.

But this is only for the futures market, where the volume of the quantitative fund is placed there, and it can only establish more position size from the spot market. This means that the borrowed spot exchange must be bought by a buyer before it can be bought back in the future and made a profit.

But now, the Quantum Fund only completed the establishment of a $10 billion position yesterday and has not had time to sell it all.

The three of them have been in the industry for many years and have rich experience, and they realized the seriousness of the problem and did not blame anything, but immediately discussed how to solve it.

"I expect the Bank of England to soon announce that it will abandon its resistance. Before that, we have to sell all the pounds in our hands. ”

"But I'm afraid we're having a hard time finding buyers right now, and such a big drop means that the Bank of England's foreign exchange reserves are depleted. ”

“......”

The conversation between Drucken, Maitreya and Soros confused Tom Clarke, and he had to interject.

"We can sell pounds at a lower price. ”

“......”

George Soros and Stanley Druckenmile looked at each other, and there was something they couldn't tell Clark yet.

But now, there is no better way than this way.

"Perhaps, that's all we have to do. ”

At the end of their deliberations, Robert John, who was still dreaming, received a pager from Stanley Drucken, who got up from his bed and quietly called back, hoping not to let his wife, Mary, hear the conversation.

Because Mary Swift is an executive at the Federal Reserve Bank of New York, in charge of the money market.

Strange husband and wife combination?

Not surprising at all.

Warren Buffett is known as the fifth-generation stock god, and it is rumored all over the world how he built a financial empire from a hairy boy, but few people know that he has a father of a US congressman behind him.

As it was later said, American bureaucrats never take bribes.

But the people who say these things will never say that there is a place like Wall Street, and the brain-dead will embezzle that little bit of money.

"Stanley. We may underestimate the existence of that Oriental man, and the pound has fallen to this point, and I have a feeling that this must be inseparable from him. ”

"Robert. Now is not the time to discuss this, I think we have to sell our pounds as soon as possible, and it will be a disaster for us to wait until the Bank of England gives up its resistance. ”

"Is there any other way?"

"What do you think?"

"Damn, we could have made more money. ”

"I understand your feelings, but that's already the case. ”

"Okay. ”

“......”

Not long after Robert John hung up, Louis Bacon also called Druckenmiller. They talked about how things would end, and Bacon said he was still trying to figure out how to sell the pound.

"Really?" Druckenmiller blurted out.

Obviously, the major investment banks on Wall Street are aware of the seriousness of the problem, and if the British government announces its withdrawal from the European Exchange Rate Mechanism, the pound will be very short of buyers. As a result, this is in the interests of the United States, and the departure of the British from the EC means that the threat of ECUs to the dollar will be greatly weakened.

It is conceivable that with the sharp depreciation of the pound, European capital will leave the European continent to find new value-added and value-preserving space, and the US market is undoubtedly a very good choice.

But this is very much not in the interest of capital, and it is not possible to achieve the expected returns in the right market, and there is nothing worse than this.

Drucken-Maitreya told Bacon to wait a moment, and a few seconds later, Soros joined in the conversation.

"Where did you find a buyer?" asked Soros desperately.

The position of 10 billion US dollars is the effect of the five-fold leverage of the quantum fund, if it is not possible to sell the pound as soon as possible and let the pound held depreciate, the interest alone is enough for the current quantum fund to drink a pot.

Especially thinking of the money borrowed from Xiyangyang Finance Company, Big Big Wolf Finance Company and Slow Sheep Finance Company, Soros has a feeling of being yin.

To be precise, it's like a main force is eyeing the money in his hand.

Soros hasn't felt this way for years, when he was still in London, an ordinary retail speculator who felt this way when he lost money again and again.

But since he left London for the United States, he has never felt this way.

But now, the feeling of being stared at is here again.

"The buyers we found in Hong Kong. But I'm not sure if they'll continue to buy pounds. ”

Hong Kong?

George Soros was stunned for a moment, but when he thought about the relationship between Britain and Hong Kong, he instantly understood something.

An idea that was about to stir could not be suppressed, and the Hong Kong government would inevitably consume a huge amount of dollars to buy so many pounds, so it would not mean that it could make a lot of money from the Hong Kong market.