The Germans are by no means unintelligent, Germany is by no means weak, Germany's financial order is by no means imtight, and the Bundesbank's foreign exchange is by no means insufficient to support its currency.

The problem, however, is that the Germans do not know anything about the truth of the facts.

They didn't know that the British were opening their pockets and that the menacing financial attack was just a prelude. Not knowing that the blockade of the pound is actually just a smoke bomb, not knowing that the feast at the table has been replaced by their own......

The first condition for a good decision is to have enough information. However, from the very beginning of this financial war, the Germans were set up with one-way battlefield transparency. And they themselves don't even know who the enemy is.

Just like Batman or Iron Man, mutated superheroes appear to be powerful on the surface. But in front of guys whose superpowers are "rich", their weaknesses can always be found in the end.

The key is that there is mental arithmetic and unintentional.

The Germans, apparently from the beginning to the end, did not realize what was really going on in this reactive financial war.

While Kohl was at the Chancellery, celebrating the stabilization of the Deutsche Mark exchange rate, the crisis did not end there.

On the contrary, the war has only just begun. But the biggest problem is that although the Germans landed a 98k, the bullets hit the pan hanging next to the butt of the opposite player......

"Prime Minister, something is wrong. ”

In the German Chancellery, in Kohl's chancellor's office, everyone is celebrating with a crown. However, in the midst of the warm celebratory atmosphere, some discordant voices suddenly appeared.

Bundesbank President Schmidt looked up from the monitor and hesitated slightly: "The French are in, they are selling a lot of marks." While they can't affect our exchange rate for the time being, they are draining our money. ”

"The French? They came too late. Cole looked relaxed: "If they enter the field at the same time as the Baltic Fleet exercises, they may also cause us some trouble." But we have already dealt with the Russians, the exchange rate of the mark has stabilized, and they have no chance to take advantage of it. ”

"How much do we have in foreign exchange reserves? How many marks can the French borrow to sell short? They are not too much of a threat. ”

When the French want to sell the mark, they borrow a mark from a financial institution and sell it on the market. They will agree with the financial institution at a time at which the same amount of marks must be bought back to the financial institution, regardless of whether the mark is falling or rising.

Needless to say, if the mark falls at that point in time, then the difference between falling and selling is the profit. And if the mark rises, then the difference between the rise and the sell is a loss.

But first of all, the problem is that the French are not engaged in small businesses of tens or millions. With hundreds of millions of transaction amounts, not many financial institutions or state reserves have so many marks in their hands that can be lent out.

Even if the Bundesbank eats the marks sold by the French in order to maintain the stability of the exchange rate, they themselves will certainly not continue to invest this money back into the market. As a result, the ammunition that the French were able to use was rather limited.

Unlike the US dollar, the Mark does not have an aircraft carrier fleet to maintain its status as the world's currency. In other words, the stock of the mark in the international market is limited.

On the other hand, however, the Germans actually have a relatively limited amount of dollars.

In 1991, Japan had the world's second-largest foreign exchange reserves, holding more than $70 billion in dollars, gold, special drawing rights, and IMF positions. This is a special measure taken by Japan since the Plaza Accord in 1985 to cope with the appreciation of the yen.

As we all know, Germany has signed the Plaza Accord, but their response is not the same as Japan's. In the face of the pressure of the appreciation of the mark, the Germans did not choose the means of financial confrontation, but took advantage of the increased purchasing power of the mark to promote the upgrading of their own industrial system.

Although from the perspective of latecomers, Germany's response is the most correct. On the other hand, however, this means that Germany has to make significant use of the dollars it receives from international trade. As a result, in the early 90s, Germany's foreign exchange reserves were only the seventh largest in the world compared to Japan's foreign exchange reserves, which were actually less than $45 billion in dollars in the hands of the Germans, excluding the foreign currency reserves of European countries held by Germany under the linkage exchange rate.

In the previous crisis of the mark exchange rate, the Bundesbank has already depleted at least 50% of the dollar reserves in its hands.

Of course, in other words, the Bundesbank, in its previous operations, has reduced the stock of at least 50 billion marks on the international market. Without such a large piece of ammunition, the French could not borrow the mark, so it can be said that it is difficult for a clever woman to cook without rice.

It was with this in mind that Cole was not worried about the Frenchman coming in at this time. Just as no one in the exchange rate market will be able to attack the RMB exchange rate in the future, there is only so much stock of RMB in the international market - there is certainly no 24 trillion yuan traded in the market anyway, but the People's Bank of China has $4 trillion in reserves in its hands, how do you play with this?

At this time, the situation in the market is relatively similar, unless some international financial institution has another 50 billion marks in foreign exchange reserves, what will you French sell out?

The French, like scavengers, almost looted the marks from the market. However, even so, in the case of the Bundesbank being prepared, it only consumed the upward momentum of the mark, allowing the mark exchange rate to begin to enter the consolidation range.

"A false alarm, it looks like the French are going to pay for their bureaucratic efficiency this time!"

Cole laughed triumphantly, and this long-short battle lasted for a whole trading day. Tens of billions of foreign exchange are coming and going in the market, and although the Germans are confident, they can't help but feel a little exhausted.

The slowness of the French was considered by Cole to be a risk-taking act that did not take advantage of the opportunity, but was left to chance.

In the face of the apparent lack of succession of the French, the Bundesbank has finally established itself in the foreign exchange market. First destroy Britain and the United States, then surrender to Russia, and draw France in a bitter battle, almost completing all the dreams of Germany in World War II!

However......

Since it's a dream, there will always be a time to wake up.

"Our foreign reserves are already in jeopardy, and luckily the French don't have enough leverage. ”

Schmidt, the governor of the central bank, collapsed almost entirely in his chair, and exhaled deeply without any image, regardless of whether it was in the chancellor's office.

"Well done, Schmidt!" Cole didn't mind, patted him on the shoulder, and smiled: "You did a good job this time, how about it, are you interested in serving as a member of my cabinet in the next term?"

Schmidt stood up a little excitedly when he heard this, and nodded repeatedly: "Of course, this is my honor!

"What is this!"

Before Schmidt finished speaking, Yu Guang just glanced at the screen, and his face suddenly became shocked.

At this time, on the top of the screen, the Bundesbank's foreign exchange trading list is almost constantly refreshing a large number of high-value marks to US dollars.

No wonder Schmidt would lose his temper in front of Cole, at this point the list of transactions he saw on the screen alone covered the entire price range of Mark from $2.5 to $3 to $3. The transaction volume of sell orders is in the hundreds of millions of dollars.

Schmidt's rough estimate of the total transaction volume of a one-screen transaction record is already more than $5 billion. And that's not the end of it, the screen is still "miserable" refreshed with new trading lists.

Like a frightened rabbit, Schmidt jumped to the telephone next to the trading terminal, grabbed the phone and dialed an internal number of the Bundesbank.

"Check it out for me! Where did such a large amount of trading money come from? Did the mark in the foreign exchange market fall from the sky!"

Forex trading is a decentralized market, and transactions are done through a bank-to-bank network. In Schmidt's experience, it takes a little time to find out where the money comes from.

However, the answer on the other end of the phone made him completely stunned, and without the slightest pause, the foreign exchange reserve executives of the Bundesbank reported the answer, but this answer was something Schmidt did not expect and would never want to hear.

"The transaction is initiated from within the central bank, and it is our domestic funds!"

This was a backstab, and the funds that had long been lurking in East Germany delivered a fatal blow at this moment - a finishing move, and it produced a critical hit!

Maybe there is no extra mark in the foreign exchange market, but in Germany, there are as many marks as there are!

"The money had been in Germany since a year ago, and some of it had been on the books of the GDR bank even before the merger. The SASAC sold GDRC to Union Bank, and the Federal Audit Office wanted to review the transaction, but the government blocked the investigation, and the SASAC had a legal exemption!"

Han Han can draw, regretting painting Han Hong......

Cole was dizzy in front of him, as if he saw someone behind the layout two years in advance, and at this time he was smiling and asking him: Are you surprised?

When West Germany annexed East Germany, it probably never thought that this was a delicious poison pill, right?

Kohl didn't even dare to use the German state apparatus to stop the deal, as he said on the phone. The funds came from the State-owned Assets Trusteeship Bureau, not to mention Kohl, he was Hitler, and he did not dare to touch the affairs of the State-owned Assets Trusteeship Bureau at this time.

Otherwise, as soon as this case is opened, will the other accounts of the State-owned Assets Trusteeship Bureau be checked? If it is found out, I am afraid that the United Socialist Party in East Germany will not be resurrected in a minute!

As the so-called good and evil will be rewarded in the end, and the way of heaven is good for reincarnation, if you don't believe it, look up, who will the sky spare!

Horizontal batch, for the heavens!