Chapter Eighty-Six: The Scared Chancellor of the Exchequer
Manhattan at sunset seems to be painted with a layer of golden light, and as the red sun slowly sinks, it forms a unique hanging sun wonder in Manhattan.
Because Manhattan has a checkerboard layout as a whole, most of the streets are built in an east-west or north-south direction, but because the east-west streets are not strictly east-west, but deviate by about 30 degrees, there are several opportunities a year for people to see the sun slowly setting from the west in a canyon made of steel and concrete on the easternmost side of the street.
The afterglow of the setting sun spreads all over the streets, and people can see the sun about to set on the east-west streets, and from a distance, it looks like the sun is about to set on the street.
34 Wall Street.
Paul Jones stood in front of the glass curtain wall of his office with his hands in his pockets, looking out at the sea not far away, and Lady Liberty stood on the sea with a torch in hand, and the afterglow of the setting sun shone on her side face, which had an indescribable pleasing beauty.
For some reason, Jones suddenly realized that Lady Liberty's body was too sexy, although it was not the first time he had seen her from across the sea here.
Bang bang β
There was a knock on the unclosed door of the office, and as Jones turned, his assistant scurried into the office with his high heels.
"Rhona. You look so beautiful today. β
Jones looked at the help and joked with a smile, apparently, he was in a good mood.
Of course, he also has a reason to be in a good mood.
The pound fell sharply by five percent against the mark, which allowed the company to cover a full $20 million of losses in dollars, which is a very good start, because in order to make a lot of money, you must first make a lot of money.
Nonsense?
NOγ
At the very least, making a small sum of money means that he is right.
Rona smiled, a shallow line of lines on her delicate face, but it did not destroy her beauty, but instead licked a mature charm.
"Sir. Kavin asked me to ask you, is it time to increase your position. β
Kavin Ponson, is the Chief Trader at Duyi Fund, where he is responsible for positions trading in the European markets.
Paul Jones glanced at the pound to the mark, which was stuck in the shock range, walked up to Rhona, and kissed her passionately on the waist.
"It remains to wait, and at the moment we are not sure whether the Bundesbank will take another step back because of the pressure on the pound. But today's scenery is very bad, you have to stay here and enjoy the scenery with me. β
β.....β
Rhona's light green pupils revealed a thousand charms, and she noticed that although her boss seemed calm now, his blood was boiling, stepping on high heels, swaying in a charming posture that was indescribable, Rhona grabbed the phone on the table and dialed the extension number.
Soon, the call was answered.
"Carvin, boss still needs to wait...... Hmmm......"
β......β
At the same time, the investment management department of commodity companies.
Bruce Koffler and Marcus sat down and discussed what they thought about what to expect from the pound next.
"At the moment, the British have four cards left in their hands, using all their foreign exchange reserves, raising interest rates, borrowing money from the IMF, and ordering Hong Kong to buy pounds sterling to strangle our positions at all costs. β
"What you say is the same as I think, but after all, I am worried about the reaction of the Germans, and if the Germans think about the position of the ECB, they may take another step back. β
"I'm also worried about that, because Schlesinger doesn't seem to want the Bundesbank to disappear, but others want to see Germany become the central bank of Europe, and that's a big variable. β
"Then let's wait and see, at least our current floating profit is already able to withstand the worst-case scenario. β
"I agree with your suggestion. The worst-case scenario would be for us to give them back the profits we have now, but I have a suggestion to test the reaction of the Bank of England, and since the Oriental dares to make such a big move, I believe he must have a definite reason. β
"Oh, you have a point. The Oriental man didn't seem to be a fool, but where did he get his confidence? And how many employees he had, God, it was unimaginable that he could reach thirty transactions per second. β
"Who knows, but it's a headache for the British, at least we're team-mates now. β
"Okay, but I'm a little worried that guy is backhanding us, and the speed of the deal is terrifying. β
"It's too early to talk about this, and if possible, I'll go to him and talk about cooperation. I'm sure he wouldn't mind being an ally with a commodity company. β
"That's for the best. β
β......β
Stupid people have different kinds of stupidity, but smart people have similar wisdom in terms of intelligence.
As the first person in contemporary fund management, Paul Jones chose to wait and see, commodity companies chose to wait and see, Bank of America chose to wait and see, and Morgan chose to wait and see..... Almost all of them have chosen to wait and see.
Because no one can say for sure whether the Germans will lower interest rates again, it is necessary for the European Central Bank to do so.
But if Germany chooses to lower interest rates, it would be very unwise to continue to short the pound.
These institutions and people are aware of the risks, and as one of the world's top speculators, Stanley Druckenmiller is also aware of the uncertainty of the exchange of the pound into the mark.
However, he ran into a bit of a problem.
His boss, partner, partner and mentor, George Soros, was a little reluctant.
Druckenmiller understands this, and he knows very well that Soros likes the feeling of being in the flashlight, the feeling of being in control, and the feeling of looking down on the crowd.
But now, that honor has been snatched away by an Oriental.
Understanding does not mean agreeing, as a fund manager, Druckenmiller has always disliked Soros's flamboyant personality, isn't it good to make a fortune in a muffled voice, why bother with those ethereal things.
"George. I don't agree with your suggestion, it's too risky. β
"Stanley. I know your concerns, but since that Oriental man dares to make such a big move, there must be enough reasons. Do you think he's an idiot?"
"George, I don't think he's a fool. But I think he's gambling. You taught me that there is a fine line between speculation and gambling, and until the Germans say it, I think, this is gambling. I don't want to say it, George, but I have to remind you that you have been influenced by that Oriental. β
β......β
All of a sudden, George Soros fell silent, and although he didn't want to admit it, he had to admit that he was indeed influenced by that oriental.
The fame and honor that should have belonged to him were robbed by that bastard, and the most hateful thing is that what that bastard wrote, it seems that he should have written, a feeling that he doesn't know how to describe it.
But George Soros is a master after all, and the years have allowed him to overcome the many shortcomings of human nature, and in the face of reason and anger, he finally chose reason.
"Stanley, you're right. We really need to wait before the Germans officially make a statement. β
"You are right, George, my intuition tells me that the British must be in a state of anxiety right now, and are preparing or have already thought of various countermeasures, and that putting pressure on the Germans must be the first step. I am confident that we will soon be able to determine the final result. β
β......β
Finally convinced George Soros, Stanley Druckenmiller breathed a sigh of relief and got up to leave, looking at his tall back, Soros sighed helplessly.
Although reason led him to approve of Stanley's suggestion, he was really unwilling.
"Damn it. What the hell is that guy's relying on? Is he gambling? But it shouldn't be!"
The Bank of England is widely regarded as the most powerful central bank in the world.
But who would have thought that in just fifteen minutes, under the huge sell-off of the market, it would be killed.
It's simply unimaginable and unimaginable.
With the changes in the market, the world's attention was suddenly attracted to London, and I don't know how many finance ministers and central bank governors who have been resting have been woken up from their sleep by the phone, or they hurriedly dropped the dishes and chopsticks while eating and threw themselves into work.
10:30 p.m.
Madrid, the capital of Spain.
Carlos Solchaga was woken up by a rapid phone ringing, and he sat up sleepily, a little dissatisfied that someone had woken him up at this time, but when he heard the content of the call, his pajamas were completely gone.
"What do you say? The pound plummeted by five per cent in fifteen minutes?"
"Yes. My lord. You'd better think about what we should do, and I'm afraid it's going to increase the panic in the market. β
β......β
Carlos Solchaga could not hesitate any longer, as Spain's chancellor of the exchequer, he knows very well what it means for the pound to plummet by 5 per cent in 15 minutes.
That is the Bank of England, the world's most powerful central bank for hundreds of years, and if the pound cannot hold, the peseta, which has now lost more than 20 percent, will only make matters worse. The market is emotionless, but the people who participate in the market have emotions, and once the market sentiment panic reaches its limit, it will be a nightmare.
Because, under the financial transmission mechanism, large-scale convergence transactions will be triggered, and all bears will look for prey like hyenas.
At this point, in 87 years, Solchaga had already tasted that terrible market situation, and the US market plummeted, triggering a global crash.
All stock markets have plummeted by more than 20 percent.
If the Bank of England, the most powerful central bank, is unable to defend itself against the bears, Spain will be left desperate for the end of the world.
At that time, he, the Chancellor of the Exchequer, will wait for a dignified resignation.
Ignoring the coolness of the night, Carlos Solcha hurriedly dialed the special phone number of British Chancellor of the Exchequer Norman Lamont.
London, United Kingdom.
Norman Lamont looked at the screen of Reuters, swallowing hard, a face was also blue and red, he never thought that as soon as he said it was impossible, the impossible would become a reality.
The feeling is like being slapped back and forth in the face, although it doesn't hurt, but it's really humiliating.
Suddenly, the phone rang, it was a special phone, and Norman Lamont picked it up with a nervous look, a little afraid that it was from Major or even the Queen's reprimand.
"Norman, it's me. Solchaga, I just received the news that the pound is being attacked, how is it now. β
"It's horrible, it's horrible!"
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