In the financial investment world, many people will compare Druckenmiller to Soros.

Many people would think that Druckenmiller was the second George Soros.

Even, Druckenmiller is not as good as Soros in some aspects.

Druckenmiller, though, doesn't think so.

In his eyes, Soros is his most respectable person.

Druckenmiller himself knows that his strength is predicting trends, but that's more of an innate instinct.

Soros is different.

Soros's greatness is based on the accumulation of rich life experience, which is a kind of philosophical understanding.

Beginner traders will think that the market is all about numbers.

As long as you have strong mathematical ability, as long as you can find the secret in the numbers, you can prosper forever.

But at the level of Druckenmiller, where would you not understand what trading is.

Psychology and philosophy are the most fundamental things.

Even the analysis of economic theories and the judgment of the general trend must be ranked after these two things.

So, when Soros said he understood something, Druckenmiller also roughly understood what he had gone wrong.

"Stanley, a few months ago we analyzed that the Thai baht would depreciate, and now I still see it that way.

But as a result, we failed.

It's not that our analysis is wrong, it's that we've fallen into a misconception.

Because we thought that the baht would depreciate, when we saw that the baht's elastic range was broken, we took it for granted that the baht had lost.

Then we struck in a hurry.

One wrong move, one wrong step.

So far, all the games have been lost.

We, including everyone else, are being led by the nose without knowing anything. ”

"You mean Boulder Capital?"

"No, no, not Boulder Capital.

Passing the blame on someone else is the act of a coward.

Stanley, we are human beings, not gods.

We've had so much success over the years that we've lost our awe of the market.

We failed because we were unprepared.

There is a saying in "The Art of War" that soldiers, the major affairs of the country, the place of life and death, and the way of survival, must not be ignored.

However, we have forgotten this in the long period of good sailing.

If it were you ten years ago, what would you do?"

Soros's words made Druckenmiller sweat profusely.

What would he have done ten years ago?

It must be step by step, steady and steady, when there is enough profit to support, determine the death hole of the baht, and then carry out the final blow to kill.

If the attack fails, it will definitely retreat in an orderly manner.

But now.

When there was not enough preparation, they rushed out and after defeat, they scattered and fled like deserters.

It is always difficult for people to perceive the mistakes they have made.

With Soros's reminder, Druckenmiller finally realized why he couldn't figure out why he would fail.

Druckenmiller bowed to Soros in displeasure.

"Thank you, George!"

A smile appeared on Soros's old face, and he patted Druckenmiller on the shoulder.

"Stanley, you're my best partner, and I'm glad you realize that now. There is a saying in Huaguo that it is not too late to make amends. So, you don't have to blame yourself for anything. ”

"I understand!"

“......”

......

In financial markets, there is always some logic that is an afterthought.

It's good, and it makes sense to go up.

The good fall, that is the good cash into the negative.

The reverse is true.

The speeches of Alan Greenspan and Ben Bernanke hinted that the Fed may cut interest rates further to release dollar liquidity.

In anticipation, the dollar ended its upward momentum and turned downward.

The reason is very simple.

Interest rate cuts will release dollar liquidity, and the amount of dollars circulating in the market will increase.

As the supply increases, the price should fall.

This explanation of major economists and professors around the world is very consistent with the logical relationship in economics.

Interestingly, though.

The Fed did carry out its decision to cut interest rates, as revealed by the two big names.

12 p.m. ET, 12 p.m. Hong Kong time.

The Fed released its final results as scheduled.

Starting on January 7 local time, the federal funds rate will be reduced by 0.25 percentage points.

The Fed's statement said that monetary policy remains accommodative after the rate cut, and the path of real interest rates will depend on the economic outlook and data, and the Fed's judgment on the pace of interest rate cuts is still "gradual".

In addition, the Fed expects interest rates to be cut by 1.075% by the end of 1997, which means that the Fed could cut rates four times this year at a 25 basis point pace.

Logically, the Fed may enter a cycle of interest rate cuts, which is bearish for the dollar.

That night, RTHK broadcast the views of some well-known international investment companies on the future trend of the US dollar.

Jason Cavill, a well-known analyst at JPMorgan's 0-pass investment department, said.

The Fed's rate cut represents the official start of a cycle of interest rate cuts for federal interest rates, and more than $100 billion is expected to flow from banks into the market in the next 12 months.

Therefore, in the future, the US dollar will most likely end its rise and enter a downward trend, and it is not ruled out that it will continue to step below the price of $75.

A spokesman for Goldman Sachs' investment analysis department said.

As the federal interest rate enters a cycle of interest rate cuts, the U.S. dollar will inevitably follow the downward path of interest rates.

...

A number of well-known investment departments have expressed their views on the future of the dollar.

1 a.m. Hong Kong time.

Within an hour of the Fed's interest rate decision, there was a sudden riot in global markets.

As speculated by major investment banks, the dollar suddenly plunged sharply.

In just half an hour, the drop reached one percent.

Affected by the weakening of the US dollar.

Gold, silver, crude oil and even copper, which has been weak in recent years, have all risen sharply.

Silver was the best, rising as much as 3.5 percent in half an hour.

The Dow Jones index and the NASDAQ index have also gone out of the opposite trend with the dollar.

After one o'clock in the morning, there was a fierce upward trend.

As for the currency market, there are also different reactions.

The British pound, the Japanese yen, and the two major currencies rose almost simultaneously.

The Thai baht, which has skyrocketed recently, has also gone on the offensive again.

During the session, the rise reached 22.788.

Singapore.

Jushi Capital Trading Department.

Liu Qiang was talking about something on the phone, nodding his head from time to time to answer the last two sentences.

"Yes, boss, I understand... Yes, okay. Then you should rest early!"

After hanging up the phone, Liu Qiang's eyes flashed with a ghostly light.

"Bang Bang..."

Liu Qiang clapped his hands and said.

"Brothers, cheer me up, the boss just explained, the year-end bonus has been placed under your feet, if you can get it before the year, each person will have a million year-end bonus. ”

"Oh hoo..."

Money always brings infinite excitement.

Stimulated by the million-dollar year-end bonus, all traders barked like wolves.

"Take out your jerking off hand!"

“...”

At three o'clock in the morning, the dollar, which had experienced a rapid decline, suddenly changed its trend, and the price suddenly counterattacked under a large amount of buying.

Five minutes later.

The U.S. dollar chart, forming a 'V' pattern.

Almost synchronous.

Crude oil, gold, copper, and silver all suddenly plunged violently.

Six o'clock in the morning.

International markets close.

The Dow Jones and Nasdaq rose 2 percent.

The U.S. dollar index rose one percent.

Crude oil, gold, etc., the largest decline of nearly 5%.

The Japanese yen fell by 0.8 percent.

The Thai baht also saw its biggest drop in recent trading days.

Closing.

23.338.

The dollar strengthened, blowing up the world.

。 m.