Chapter 372: For the Glory of Great Britain
Although the British Empire has long since lost its glory a hundred years ago, the British pound is still the most important currency in the world after the US dollar for historical reasons, so any fluctuations in the pound can easily become the focus of the world's attention, so the media around the world have noticed since Joros and his Quantum Fund began to sell the pound. Pen | fun | pavilion www. biquge。 info
The first thing to notice is London Finance, in the morning of London time, the rolling news of the London Financial Channel mentioned: since the United Kingdom joined the European exchange rate system, the exchange rate of the pound has been falling, no matter how the Bank of England manages to adjust, but just an hour ago, the exchange rate of the pound against the mark began to fall very strangely.
Today the pound opened at 3.01, which means that one pound is worth 3.01 DM, but in the space of an hour the exchange rate fell to 2.995, a drop of 5 thousandths.
If this decline had occurred in a day, it might have been a normal reaction of the European exchange rate system, but now it happened within an hour, which cannot but make people wary of whether someone is maliciously shorting the pound.
Now, if the knights of the Bank of England do not pay attention to it and allow international hot money to short the pound, it is likely to have devastating consequences for the pound.
By 4 p.m. London time, the exchange rate of the pound against the Deutsche Mark had fallen to 2.97, a drop of more than 1.3%, which was obviously beyond the normal floating range, and the global media began to react in hindsight.
Wall Street Finance is the benchmark financial channel in the United States, and he was naturally the first to unveil the sniper war on the pound: at 8 a.m. London time, at 3 a.m. in New York time, several major hedge funds led by the Quantum Fund entered the European market, believing that the pound is currently very weak due to the domestic economic impact of the United Kingdom, so shorting the pound can make huge profits.
According to Mr. Roger, the chairman of the Quantum Fund, the Quantum Fund has sold more than half a billion pounds in today's pound sniper war, and this is just the beginning, in the coming days, the Quantum Fund and other cooperative funds will sell more pounds, and they believe that the pound will have more room to fall, or fall to 2.14 or even lower.
After Wall Street Finance, the media in France and Germany have also focused on the pound sniper war, they said that the fall of the pound is due to the recession of the British economy, but at the same time they have also expressed great confidence in the United Kingdom, believing that the United Kingdom, as an old financial power, has a strong foundation, and can survive this difficulty by its own ability to keep the exchange rate of the pound.
And as the media reports from various countries came out, the Count of Mountbatten slapped the table in his study at that time, and said angrily: "These damned speculators! They really should be burned at the stake!"
The Earl of Mountbatten could not help but be angry, because the depreciation of the pound sterling had a direct impact on him, and the loans promised to the Great Wood Bank were settled in US dollars, and if the pound exchange rate fell, it meant that the bank would suffer losses due to the fall in the exchange rate. For example, if the pound falls by 1.3% today, it means that banks will have to pay 200 million pounds more when it comes to making loans.
This is definitely a huge expense, and it is impossible for the Royal Bank of London to bear such a loss, so as he is the guarantor of this transaction, it is obvious that this loss can only be counted on him.
"I knew that I should have been firm in my mind that since it was a loan from London, it should be settled in pounds sterling. ”
Mountbatten couldn't stop muttering, but he also knew that there was no point in worrying about this now, so he immediately picked up the phone on the table: "Pick me up from the Chancellor's Office, right away!"
There is only one way to recover this huge loss, which is to stop the depreciation of the pound, and Mountbatten did just that, so at 8 o'clock in the evening London time, he drove to the famous 11 Nattang Street, which is next to the Prime Minister's official residence, the official residence of the British Chancellor, and Mountbatten came to attend this temporary meeting.
Mountbatten was the first to arrive, personally greeted by Chancellor of the Exchequer Philip.
Seeing Philip, Mountbatten immediately said violently: "Sir Philip, the current decline in the pound exchange rate is a provocation by all foreign speculators to Great Britain, and we must make a strong counterattack to safeguard the dignity of my Great Britain and Her Majesty the Queen!"
Facing Mountbatten, Philip felt a little headache, although he was the British Chancellor of the Exchequer, but the other party was a group of nobles with hereditary earl titles, so in terms of identity, the other party was the master of the country, and he was just a butler.
Putting aside the distractions in his mind, Philip said to Mountbatten: "Honorable Earl, since I have convened this financial meeting, I have made up my mind to keep the exchange rate of the pound, but now foreign speculation hot money is menacing, and due to the economic downturn in China, the pressure to depreciate the pound is also very strong, so how to balance it, we still need to consider ......."
Before Philip could finish his words, Mountbatten unceremoniously interrupted him and said, "Those things will be talked about later, and now it is the top priority to stabilize the exchange rate of the pound!"
Mountbatten added: "Of course I understand Sir Philip's difficulties, and rest assured, I will help you convince the others at this evening's meeting, and you only need to buy a large amount of pounds sterling through the Bank of England to stabilize the exchange rate." ”
Half an hour later, all the invitees were here, and all the important figures in the British financial community were able to attend today's meeting, including not only the Chancellor of the Exchequer and the Governor of the Bank of England, but also the chairmen of other major banks, all of whom had only one purpose, and they all came for the sudden pound crisis today.
At the beginning of the meeting, when Chancellor of the Exchequer Philip had just made an opening remark, Mountbatten could not wait to stand up and say: "Hello dear gentlemen, I am very happy and sad to see you all here today, sad because my dignity has been challenged by others, and happy that I see the unity of Great Britain in you!"
Everyone listened to Mountbatten's speech, after all, no matter in any country, aristocrats are rare, especially in the more proud Britain, the nobles who pride themselves on their status generally do not participate in meetings of this level, so Mountbatten, who has the status of an earl, is very noble here.
Since this meeting was not an official meeting, it became normal for Mountbatten to speak in place of Philip.
"As I believe everyone already knows, the exchange rate of the pound has fallen by more than one percentage point today, and this is a conspiracy of foreign speculators, who are frantically selling the pound and suppressing the exchange rate of the pound, in order to profit from it and take the wealth out of our coffers. ”
Mountbatten paused at this point and then said: "What kind of behavior is this? It is a robber, but what do they think of us? Is it a cowardly sheep? It is an insult to glorious Britain, a trampling on our dignity, which I will never allow!"
"Remember half a century ago, when Churchill gave a speech to all Britons, he called on people to take up arms to defend the national dignity of the Anglo-Saxons, and now we are faced with the same choice as then!"
Mountbatten gritted his teeth and said: "Those damn speculators, it was they who quietly came behind us and launched a ferocious attack on us, according to incomplete statistics, today in the foreign exchange market, someone has sold more than half a billion pounds of currency, we can believe that with the greed of these people, they will sell more pounds in the next few days to create chaos in the exchange rate market." ”
"They are all opportunistic scoundrels, and only chaos can benefit them, but they don't care what trouble it may cause us!" said Mountbatten, "and now, I don't know what you think, but I, as the Earl of Mountbatten of the House of York, have been honoured by Her Majesty, and I will fight the enemy to the death for the glory of Great Britain!
As Mountbatten shouted, everyone else in the audience echoed the words: "We also support a counterattack against the enemy! We are not cowardly sheep, we should be the fiercest eagles hovering over the sea, we will not allow anyone to challenge our dignity, we will fight the enemy to the death for glory! We also support the counterattack of the Bank of England!"
In the face of the passionate shouts in the conference room, Chancellor of the Exchequer Philip glanced at Mountbatten and could not help but be surprised by Mountbatten's eloquence and incitement.
But now that Mountbatten has paved the way for himself, he also stood up with amusement and said: "Well, then, I have decided that the Treasury will buy back a billion pounds in the market through the Bank of England, and at the same time I will make it clear to the world that the pound will never depreciate!"
After Philip, the Governor of the Bank of England also said: "The Bank of England, as the most powerful central bank in the world, will never compromise with those damned speculators, we will fight the enemy to the end, and we will also help the Treasury buy back a billion pounds!"
At this time, Mountbatten said: "This is a war between Great Britain and foreign speculators, and no one is immune, so if the Treasury and the Bank of England need it, I will contribute to help Great Britain stabilize the pound exchange rate!"
Mountbatten's lead has once again set an example, and others have since expressed their support for the war between the Treasury and the Bank of England to stabilize the pound rate.
Listening to the firm shouts in the conference room, Mountbatten smiled: That damn Chinese Zhou Ming and the hateful Joross and the Quantum Fund, although your attack is very sudden, but you are like this, I will show you the strength of Great Britain Finance, and tell you that the pound is not something you can manipulate at will.
Mountbatten said viciously in his heart: I don't know how much money you have prepared, but you will definitely not be the opponent of the great Great Britain! Your attack on the pound will only make your head bleed!