London foreign exchange forward market.

The U.S. dollar was swapped against the Thai baht contract, which suddenly skyrocketed.

In just one minute, 25.982 rose to 25.418.

It is different from the foreign exchange spot market.

Standardized contracts vary from country to country in the forward foreign exchange market.

However, there is often a minimum leverage of more than 20 times.

In order to maximize profits, some traders will increase leverage under leverage.

This leverage may even reach hundreds of times.

The leverage in the Russian market is the maximum, reaching a leverage ratio of 2,000 times.

The rise of more than 500 points in the US dollar to the Thai baht contract has made some highly leveraged trading accounts immediately face the risk of liquidation.

On the board.

A piercing cloud line forms a right-angled ascending pattern of nearly 90 degrees.

The frantically rising price was like a stick slamming into the head of a short trader.

Almost at the same time, the Thai baht in all the world's financial markets showed an upward pattern of nearly 90 degrees on the contracts related to the Thai baht.

New York, Chicago, Singapore.......

25.431、25.389......

The price of the Thai baht, in a vertical upward line, continues to climb.

Market Trading Department, Bank of Thailand, Bangkok.

Dense beads of sweat oozed from Governor Sonny's forehead.

His face was flushed, and he didn't know when his hands were clenched together.

Sonny is not nervous.

The Axe Breaking Project is related to Thailand's future 100-year national fortunes and the future life of tens of millions of people in Thailand.

With this kind of burden on him, how can Sonny not be nervous.

"Bell bell bell ......"

"25.385 to buy 3 million baht ......."

"Hey, buy me 1,500 baht for 25.377 ......."

Under Sonny's command, traders are constantly picking up the phone to report to the world's major spot markets.

"Crackling ......."

The sound of keyboard tapping was as dense as raindrops.

That's when a trader is using a computer to perform even market operations.

50 million, 100 million, 200 million、...... Billion.......

Hong Kong, Singapore, New York, London, Chicago.......

The first return trading markets in the world's major financial centers are flooding in to buy Thai baht.

Sonny's heart was pounding.

The rapidly shrinking dollar reserves made him nervous.

He loosened the tie around his neck, then raised his hand to wipe the sweat from his forehead.

Buddha blessed.

Bless us with success!

If there is an attack, there will be a defense, and if there is a buy, there will be a sale.

When Sunny personally commanded the operation of the Bank of Thailand's market trading department, the funds that were bearish on the Thai baht would not be idle.

New York Stock Exchange.

Stanley Druckenmiller was also directing the Trading Department to suppress the Thai baht's counterattack.

For Thai baht. Druckenmiller has always had a thorn in his heart.

In '95, he lost $70 million in baht.

That time was one of Druckenmiller's rare defeats since his debut.

As a star fund manager within the Quantum Fund, Druckenmiller's greatest wish is to be like Soros and never fail.

But in Thai baht, he was beaten severely.

Although Soros did not punish him for his losses at that time, he even encouraged him to continue his efforts in the future.

But for Druckenmiller, who was still very young, it was undoubtedly a great shame.

He had already made a vow in his heart that he would definitely recover the lost field from the baht.

This time, the opportunity finally came.

"25.495 sells 30 million ........"

"25.515, sell 20 million ......."

"Billy, short 30 million positions in the New York Forward Market ......"

“.......”

100 million, 500 million, 800 million......

Under the judgment of Druckenmiller, under the joint research of the Quantum Fund team, in the industry exchange.

Everyone has always believed that the depreciation of the Thai baht is unstoppable.

Thailand's economy is fundamentally wrong.

With the decline in export revenue, the over-issuance of the baht and the outflow of capital, no one can stop the depreciation of the baht.

This is the general trend.

But Drucken found that his calculations seemed to be wrong.

The Quantum Fund has already sold a billion dollars worth of baht in the market.

In Druckenmiller's prediction, such a large amount is enough to be the last straw that crushes the Bank of Thailand.

However, the Thai baht did not collapse.

25.515......25.385、25.379......

The Thai baht that went up was just a short dip, and then it attacked upwards again.

That strong posture is as fierce as taking an aphrodisiac.

Drucken Miller.

In the Quantum Fund, he is the first person after Soros.

In some ways, Druckenmiller is even more gifted than Soros.

This is also the reason why Soros took the initiative to leave the Quantum Fund when he had a dispute with Druckenmiller.

In the capital game, Stanley Druckenmiller has an instinct that even Soros can only bow to the wind.

A billion dollars out.

Not only did it fail to break through the city that the Thai Baht had completely lost, but it was partially regained by the Thai Baht.

Druckenmiller keenly sensed that something was wrong.

According to Druckenmiller's previous inference, the Thai baht will definitely collapse completely under the attack of major funds.

But it turned out that the baht not only did not collapse, but recovered some of the lost ground.

This makes no sense, and it should never be.

If it is an ordinary person, when faced with the truth and the severity, nine out of ten will insist on the truth.

The biggest reason.

But Druckenmiller is no ordinary person after all.

He is the second person in the quantum fund who can be compared to Soros, and he is a global star fund manager.

Druckenmiller knows.

Man is not an omnipotent God after all.

You can extrapolate, you can predict, you can trust your own judgment.

But in the end, only the market is right.

Since the current market does not meet his judgment, it means that his judgment may be wrong.

Realizing this, Druckenmiller immediately stopped suppressing the baht.

Without figuring out what was going on, he couldn't stubbornly trust only his own judgment.

It stands to reason that BOT's funds are about to bottom out, so why do you have such a large amount of funds to take over the sale of Thai baht.

Could it be Singapore or the Hong Kong Monetary Authority?

In '95, Druckenmiller secretly built a billion-dollar short position in Thai baht, and finally suffered a crushing defeat.

That time, he and other air allies were wiped out by the Bank of Thailand, the Monetary Authority of Singapore, and the Hong Kong Monetary Authority.

"Billy, look up where the baht is being sold, I don't think it's right. ”

With the energy of quantum funds, there is almost nothing that cannot be found in the financial markets.

What's more, nearly 100 baht worth of Thai baht was traded in the market.

Small money is fine, but big money simply can't hide traces.