The pound was exchanged for the mark, and 2.4200 sold flat at 30000

Like a bomb dropped into a calm lake, the exchange of the pound against the mark was instantly raised to 400 basis points, and the tick chart of the continuous W-fold pattern changed one by one, setting up a vertical line of almost 90 degrees.

But it didn't end there, and the dense closing of positions followed like a swarm of ants smelling a crisis, and in just one minute, the pound rebounded by more than 300 basis points again.

2.4558 sold flat 1

2.4560 sold flat 1

2.4559 Buy 1

......

GBP to Mark, 2.4559/+9.78%.

GBP/USD, 1.7868/+7.68%.

Chicago, Financial Exchange Building.

Laura's Monetary Fund manager Lance Laura looked at the price of the pound on the screen as if he had been hit by Thor's hammer, and his brain went blank.

The Bank of England lowered the interest rate by 2.5 percent, such a big super bearish, the pound will release at least hundreds of billions of circulating money to the market, the supply will increase, and the bearish trend of the pound will inevitably accelerate its decline.

Supply and demand determine price, doesn't it?

But what is it now?

-78985042$！

The huge losses in the fund account and the contradiction between reality and philosophy make Laura feel that the world is extremely fake.

"Laura. Should we stop a part of our position, the market is now very unfavorable to us. ”

"Nope. This is only a technical adjustment. The whole world knows that the price of the pound will fall, and the pound cannot rise. ”

"So what are we going to do. ”

"Add to your position. The Bank of England has lost enough foreign exchange reserves and it can only let the pound go into free fall, which must be a bluff to intimidate the bears in the market. ”

“......”

The Bank of England has lost enough foreign exchange reserves and reduced its profit by another two hundred and fifty points, and the pound is again in a butcher's knife-like bearish trend, how can it really continue to rise.

There is no reason to support a rebound in the pound, and if it does, it must be a technical correction.

Lance Laura is convinced.

Brooke Conney, chief trader at Arcass Investment Management, is also convinced.

London, an international financial center.

Brooke Coney took a heavy puff of his cigarette and gave the order to increase his position, and he tried all the reasons to find any logic for the pound to rise.

This can only mean that the rebound is to give more reasons to get on the bus.

The whole world knows that the pound will fall, and under this general trend, the pound will inevitably fall.

Almost at the same time, many money market fund managers and convergent traders around the world have made the choice of adding or shorting their positions, and as professional speculators, they are well aware that such a clear bearish trend in the pound makes sense to rebound.

But unfortunately, they don't know that there are so many idioms and words in Huaxia.

The extremes of things must be reversed, and the general trend will be reversed.

It is true that no one can stop the roaring flood, but the hero creates the momentum, and no matter how violent the tide is, it can also be rerouted.

East Main Street, NatWestminster Bank.

President Danny Clarke stood at the door with his hands folded like a butler, but he did not have any butler's humility and low-key, his neck was raised and his nostrils were facing the sky, and he seemed to not be able to see the customers entering and leaving the bank at all, looking around, obviously waiting for the distinguished customers.

I don't know how long it took, a new modified Rolls-Royce stopped at the door of the bank, and when he saw Shen Jiannan and his party coming down, Danny Clarke suddenly had a smile on his face.

Soon, the two sides got together.

Shen Jiannan took the initiative to reach out and greeted Danny Clarke.

"Hello, Mr. Clark. I'm really sorry to be delayed on the road just now. ”

"Mr. Shen is really polite. It is my pleasure to serve such a distinguished guest as you. ”

“......”

After a brief and polite exchange, the group was led by Danny Clarke into the bank's top VIP reception room.

The huge reception room, which looks like a café box, is covered with bright yellow carpets, and the environment is elegant and quiet to the extreme, standing next to the window, half of the city of London can be seen, and then looking at the sea in the distance, the blue sea and the sea and sky are simply a luxury enjoyment.

As the group sat down, the bank clerk who had been waiting for a long time came over with coffee, and his respectful and humble attitude made people feel their thoughtfulness and thoughtfulness.

"Mr. Clark. Today, we want to repay the money we borrowed from your bank. ”

“......”

If you borrow pounds, you will naturally have to pay them back.

But now, having sold all the pounds that were previously borrowed, in order to pay them back, you have to buy back the pounds that were sold.

Seems a bit of a hassle.

But for a large bank like NatWestminster, none of this is a problem.

Soon, under Danny Clarke's arrangement, First Capital bought £518.7 million for 1,276 million marks and returned it to NatWestminster Bank.

Shen Jiannan and his party got into the car and left, Danny Clarke stood at the door and waved at the car in the distance, and walked quickly into the market trading department.

"Conn. Close all our GBP positions, right away. ”

“......”

In the following trading days, the exchange rate of the pound against the mark rebounded to 1:2.5900, allowing Shen Jiannan to buy back as much as 16 billion pounds in the market at a price of 1:2.52.

The profit of 4.7 billion US dollars was evaporated by 900 million US dollars out of thin air, but at this time, the profits were all real money.

After deducting the interest on these borrowings, Capital One, Carmandy and German ended up earning around $4,632 million.

It's definitely a scalp-wrenching number.

You know, in the capital market, the larger the capital, the fewer ways you can invest, and the fewer you can get greater benefits. Because such a amount of capital, no matter which market it enters, it will cause a sharp change in the market price.

A week after the UK announced its depegation, speculative pound sterling funds began to buy pounds in the market one after another to close their positions, which also pushed up the pound exchange rate to some extent in the short term, and if it were not for the Bank of England to cut interest rates again, the scale of this profit may continue to shrink.

But for the Global Monetary Fund, it's the end of the world.

Boston, on the banks of the Charles River.

Mike Gates, a former professor of economics and finance at Harvard University, stood by the river, his eyes glazed over, his hair disheveled, and the spirit of the walking dead as if he had lost his soul.

Five years ago, with his wealth of economic research and financial ideas and reputation, Mike Gates established the Gates Monetary Investment Fund.

In the past five years, from the initial $10 million, with an annualized return of 15 percent, the amount of funds managed by the Gates Money Fund has rapidly expanded to $1 billion half a month ago.

But now, it's all gone.

In the morning, the Gates Fund was quickly asked to liquidate its position by customers because of a loss of more than 50% in its position in the pound, and Mike Gates, the actual infrastructure manager, was also jointly sued and is facing unpredictable punishment.

Revolt?

As an American, he knew very well that with five hundred million dollars, he was not qualified to resist at all.

And the only thing he can do is die.

Plop –

The slow-flowing Charles River splashed a huge wave, and Mike Gates, who was standing by the river, sank to the bottom of the river.

The cold river water kept choking from the organs to the lungs, bringing bouts of unpleasant pain.

But compared to the physical pain, Mike Gates has one question that he can't figure out why the subject he has studied all his life has changed at such a critical moment.

The river gradually calmed down, but in this world, there is no more Professor Mike Gates, who was once sought after by countless people.

Huge wealth can bring unbearable excitement and excitement.

Similarly, huge losses, like a handful of heart-rending sulfuric acid, are enough to corrode the will of too many people.

The feeling of falling from heaven to hell in an instant, the chill that freezes one's soul more than a night in a raging snowstorm, can break too many people.

The GBP/DM pair turned down again after rebounding to 2.59, but on this day, all the traders who had bet their careers and fortunes on convergence trading were also wiped out on that day.

A number of fund managers and speculators lost their fortunes on this day, and the reported suicide alone made people tremble.

KathleenMorris。

"The Global 'Monetary Fund' Collapses," Mutual Fund Watch, 19 September 1992.

For the short-term international money market funds mentioned earlier, that day was also the beginning of their end. In fact, all those funds disappeared as quickly as they came to the investment scene.

The full cost of the Treasury has never been disclosed to British taxpayers, but it is conceivable that it must be in the billions of pounds.

"As a result of the collapse of the pound, I made a profit of four billion dollars. “