Intelligence officers were arrested, and intelligence systems were dealt a fatal blow.

This directly led to a direct break in the connection between the Quantum Fund and the Thai side.

Those intelligence officers are all important pawns in the Quantum Fund arrangement to promote the general trend of the Thai baht.

Now being uprooted by the Thai authorities means that it will be difficult for the Quantum Fund to do anything more in Thailand.

And that's not what angered Druckenmiller the most.

What really made him Drucken point was that the Bank of Thailand actually raised the offshore short-term lending rate to 1,200 percent.

Up to 12 times the interest rate.

The offshore call rate is a concept derived from the call rate.

Because a country's financial market is open, there will inevitably be foreign and multinational banks entering.

A market that does not use the national currency within the borders of the country is known as the offshore financial market, and this market is dominated by foreign investors.

The offshore lending rate, on the other hand, is simply the interest rate for foreign investors.

It's a combo move.

Putting pressure on position holders through forward foreign exchange customer information provided by banks (Xiao Feng), and then using thunderous means to sweep away the shadows of international capital in Thailand to weaken the influence of public opinion (Sunflower), and raising the offshore lending rate to increase the cost of borrowing Thai baht (Xiao Feng)

This is complemented by a mandatory executive order to cut off the possibility for foreign investors to borrow Thai baht from local banks (Eight Childish Girls).

Such a combination is sure to kill, and even if international speculators borrowed Thai baht from local banks before, it is impossible to borrow short-term loans through local banks.

The only way to do this is to borrow Thai baht from foreign banks that have baht business at high interest rates.

Sunflower and the eight young girls are used together, which is really super nirvana.

First of all, most of the Thai baht lending business is carried out between local banks, which fundamentally cuts off the possibility of speculators continuing to expand their short selling.

Second, for those foreign banks that want to lend short-term interest rates, they must borrow Thai baht from local banks at a very high interest rate, and then release money to speculators at a higher interest rate.

This will undoubtedly increase the interest rate burden on speculators.

More than a dozen times the interest rate, no joke.

"Damn it, you dare to cheat blatantly!"

In New York, Stanley Druckenmiller slapped the desk in front of him fiercely, angry.

Now, in front of the Quantum Fund, it is not only losses from the futures market, but also high offshore lending rates.

This pervertedly high short-term lending rate made Druckenmiller, who has always regarded himself as an apostle of God, can't help but scold.

In Europe's highly mature and liberalized financial markets, interest rate markets are not determined by a central bank or a government letter.

Take, for example, the United Kingdom, France.

The change in the interest rate is formed by the quotation of the bank consortium to form the overnight interest rate.

It is somewhat similar to a liberal auction model, where the level of interest rate is mainly determined by the supply and demand of money.

Therefore, when the British pound and the mark were attacked in 91, the British and French governments could only attract the inflow of foreign capital by raising the benchmark deposit and loan interest rates, so as to alleviate the pressure of selling the pound in the spot market.

However, after the currency crisis spread throughout Europe, some countries responded to the hedge fund selling shock with mandatory executive orders.

The Swedish government, for example, has responded to hedge fund attacks with outrageously high overnight lending rates.

Apparently, the Bank of Thailand has learned this trick that borders on cheating.

What is even more outrageous is that the Thai authorities have gone so far as to forcibly extract the information of foreign exchange forward customers from major banks by means of coercion and inducement, and even do not hesitate to use judicial means to forcibly arrest people.

This is a blatant disruption of the rules of the game in the financial markets.

In the history of finance, no country has dared to cheat so blatantly.

This is because the market bidding system is the benchmark game rules that exist in the financial market.

The score of the simple point is like a casino.

There are only casinos that lure customers to gamble, but there are never casinos that force people to gamble with guns.

If it's so messy, who will dare to come to your house to play in the future.

But now, although the Thai authorities are not really holding guns to force people to play according to their rules, it is almost a blatant violation of the rules of the game.

Druckenmiller's face was cloudy.

He knew that this time the Quantum Fund's attack could only end in failure.

A series of nirvana moves by the Thai authorities combined to deal a 100,000-point crit on the bears.

In its current form, as long as the Bank of Thailand mobilizes funds to sweep the baht in the market next week, it can easily kill the bears to collapse.

Even, there are a lot of funds that will take the initiative to participate in this encirclement and suppression of the bears.

"Damn Boulder Capital!"

Druckenmiller's hatred for Boulder Capital is like a surging river.

In Druckenmiller's plan, the Quantum Fund was supposed to kill the baht in a three-dimensional form.

This three-dimensional space is like a three-dimensional space.

By attacking one currency at the same time in the currency, foreign exchange, equity and financial derivatives markets, the fixed exchange rate system collapses, and the Quantum Fund can profit from financial turmoil.

The sources of local currency mainly include the currency market of the target country, the offshore market and the sale of the country's stocks or bonds.

The Quantum Fund intends to take a gradual approach to inhale the baht gradually to prevent the short-term borrowing of large amounts of baht leading to an increase in the cost of holding the baht.

Until it has enough Thai baht in its hands, it will sell the Thai baht intensively to suppress the Thai baht exchange rate.

When enough baht is absorbed, it will sell the baht when the negative news about Thailand's economy and finance comes out, or simply use the chess pieces that Thailand has placed in advance to spread rumors of negative news and drive other investors to follow suit.

Second, sell a forward contract in the forward foreign exchange market to exchange the US dollar for the Thai baht.

If the Thai baht depreciates on the date of expiration of the forward contract, the Quantum Fund can make a profit by delivering the contract.

The forward sell-off will cause the forward exchange rate of the Thai baht to fall, and at the same time, it will also suppress its spot exchange rate.

On the one hand, the bank expects to buy a large amount of Thai baht in the future, and will sell it in the spot foreign exchange market for US dollars to close the position so that it can be fulfilled at that time.

On the other hand, market investors who observe the depreciation of the forward baht will also borrow the baht in the spot foreign exchange market, and then sell the baht for US dollars to achieve their arbitrage goal of exchanging less US dollars for the Thai baht required for performance on the expiration date of the forward contract.

However, all these plans were destroyed by Jushi Capital.

To mobilize large-scale funds without attracting the attention of the Bank of Thailand, it needs to be done in a shadowy and gradual manner.

This requires the Quantum Fund to pledge some of its bond shares to the Bank of Thailand and then take positions in the Thai securities, futures and other financial derivatives markets.

When there is a profit on the position, the Quantum Fund can earn enough baht at minimal cost to break the fixed exchange rate of the baht.

However, the position of the Quantum Fund has just begun to be established, and Giant Stone Capital is like a-stirring stick that suddenly smashed through the defense of the Thai baht with three billion US dollars.

In this case, Druckenmiller had to rush into battle.

Even if the Quantum Fund is not fully prepared.

But Druckenmiller has been bearish on the baht for two years, and now that the baht's elastic range has been broken, it means that his judgment is correct.

The general trend is difficult, and the wall is pushed by everyone.

It doesn't matter if you can't grab the first spot, since the Thai baht has collapsed, you can make money by taking the opportunity to fall into the well, and you can also avenge the sniping by the Bank of Thailand by the way.

But who knows, it is a trap for the baht to be broken.

What's even more hateful is that Jushi Capital, which fired the first shot of the attack on the Thai baht, suddenly turned back.

One wrong step, one wrong step.

Now, the Thai authorities have cheated like such a series of combination nirvana, and the Bank of Thailand and other markets will definitely take the opportunity to strangle the short of the Thai baht after the market opens.

If the cost of the Quantum Fund can be as low as it was planned in the early days, it may still be able to resist this round of strangulation.

It's just that now, the only thing the quantum fund can do is to stop the loss.

"Damn shit-stirring sticks..."