The Thai government should indeed apologize with death for its performance since January. The behavior and speech of the www.biquge.info in the news media, press conferences and other occasions should not be the behavior of a high-level government of a country, and the meeting between the high-level Thai government and Rogers this time was also a loose speech and full of loopholes.

The deputy governor of the Bank of Thailand, who hosted Rogers, let his guard down and confronted Rogers, forgetting that this was an economist working for Wall Street's top predators, and the vice president frankly admitted that Thailand had accepted any interest rate that was proven to keep its exchange rate within a specified range, but now that the troubles with the financial system were the government's side began to give more priority to interest rates.

These seemingly inconsistencies gave Rogers a lot of information, as if he saw a huge opportunity to short the Thai baht, like seeing a box full of banknotes, and Rogers was standing in the gap where the money kept leaking, and as long as he stretched out his hand, he could catch a steady stream of money.

Rogers, who pretended not to hear the message, shifted the subject, and after discussing it with the official for a few more minutes, suddenly brought up the topic again, indicating that he did not fully understand. Out of courtesy, the Thai official, who was unaware of the huge amount of information he had revealed, repeated what he had just said.

The Quantum Fund and its partners have fully understood that the Thai government is powerless to deal with the current exchange rate policy, and it is only a matter of time before the Thai baht will eventually depreciate no matter how many official statements are made to ensure the stability of the exchange rate policy.

The reason why Thailand can't take the initiative to choose depreciation is not only to be able to attract foreign capital steadily, but also to political pressure from other countries or regions in Southeast Asia. You must know that the so-called Asian tigers and tigers are all following the path of export-oriented economy-driven growth.

This model relies mainly on the inflow of foreign capital and technology, and in this case it is inevitable to maintain the stability of the currency. There is no capital willing to invest in a country with an unstable currency for a long time because they are concerned about the risk of exchange rates. This is also the reason why Huaxia no longer easily changed the value of the currency after announcing a one-time devaluation in 94.

Once a fixed exchange rate was established, foreign capital and technology came in, and the economy took off. In the process, it is still not possible to easily change the exchange rate system, in addition to the continuous attraction of foreign funds, there is also pressure from neighboring countries.

As we all know, once a country's currency is depreciated, that country's goods become more competitive in the international market. However, in Southeast Asia, almost all countries rely on exports as the driving force for domestic economic development, and Thailand, the only country with the largest market share, is even more necessary to maintain the integrity of the exchange rate system, because once they announce the depreciation, other countries will follow suit for their own economic considerations and choose currency depreciation to start an export price war, and then the economic situation in the entire Southeast Asian region will fall into chaos. Therefore, for the sake of regional economic considerations, it is also necessary for Thailand, a "big country" in the entire region, to maintain its own exchange rate stability.

That's why when the Thai baht was attacked, other countries in Southeast Asia came to the rescue.

May 1, International Labor Day, is considered a holiday in many countries. May Day originated in the United States, but Labor Day in the United States is not on May Day. At the Inaugural Conference of the Second International, held in Paris, a resolution was adopted establishing 1 May as International Workers' Day. However, the leaders of the American Federation of Labor Unions did not actively organize the commemoration and celebration of "May Day." Later, when the US Government established Labor Day, it deliberately avoided "May Day" and separately designated the first Monday of September every year as Labor Day, with a day off.

On this day, American workers are still working, and the headquarters of the Quantum Fund is still full of people. The Quantum Fund has employees in many countries, most of whom are economists and professors in these countries, and have a proven track record in the field of finance. The purpose of employing these economists is to collect first-hand data in their own countries on behalf of the Quantum Fund, and the data and information sent to the headquarters of the Quantum Fund from all over the world every day is huge.

Quantum Fund insiders come and go, they get first-hand data, and then use computers to input data, and then draw some conclusions based on the company's unique formula software to supplement the country's economic charts.

The office area inside the fund is bustling with people and even a little noisy. Monitors on the walls of the interior show the economic trends in most parts of the world, and some countries do not have the expertise of quantum funds.

It was very lively outside, but the real boss was sitting inside an office, listening to the report and analysis report of Rogers, the former veteran and founder of the Quantum Fund, on a phone.

As soon as he met with the deputy governor of the Bank of Thailand this afternoon, Rogers immediately called Soros overnight to ask Soros to convene a high-level meeting, where he needed to report on what he had seen and heard today and set a direction for his next strategy.

Due to the time difference, it was already early morning on the Thai side, and it was just after 10 o'clock in the morning on the American side.

“…… The construction that used to be ubiquitous in Bangkok is now almost invisible, with all the cranes on the construction site stopped working and there were few people on the construction site, indicating that the city's real estate market has collapsed. According to Asian investment banks, the country's total loans are 140 percent of GDP, of which more than 50 percent are bad debts, while more than 85 of Thailand's 90 financial companies are said to be in unsustainable situations...... That's the way it is, everybody has their say! Rogers may not be involved in the day-to-day management of the Quantum Fund, but his status as a major shareholder gives him an absolute high position within the fund.

"There is no doubt that we need to be responsible for investors, and increasing the scale of shorting the Thai baht is the most important thing for our managers to do at the moment." One shareholder at the meeting expressed his opinion, and of course his opinion dominated the opinion of the majority.

"Where does the money come from? Lending? Or is it a draw from the money invested? "After several capital operations, the Quantum Fund is no longer the fund with a simple organizational structure 10 years ago, and Soros has to engage in the democratic form that he has a headache for.

It is a very stupid choice to put cash in the bank, but because there are many stupid people, which speculative capital predators have the opportunity to borrow money.

"Let's borrow it!"

"We can go to Citibank, and they have been fighting against Bank of America more and more recently, and maybe we can get a very low interest rate."

"I think it's better to get rid of some of the U.S. Treasuries! Anyway, the price of government bonds has risen for a while! ”

"I think it's better to withdraw some of the funds from Russia!"

……

In the conference room of the Quantum Fund on the top floor of a building in the financial district of New York's Central Park, the directors and senior management of the fund are gossiping and chattering, and there is a very democratic atmosphere.

The corners of Soros's mouth twitched, he smiled disdainfully, and then quickly changed his face, and said with a sad face: "We should be sympathetic to ordinary Thai people, and every $1 billion in positions we will cause thousands of people to lose their jobs." Personally, I think it's okay to just keep our current position. ”

"George, we need to be responsible for our customers, not compassionate." One of the directors couldn't wait to stand up after Soros finished speaking.

"This is a good opportunity, maybe we can win billions of dollars with just a few hundred million dollars of capital, this is an opportunity." A partner and fund manager who wants to make a big bet speaks.

"We only need to take care of the funds for our customers with all our hearts, and the pursuit of profit is our job, instead of pretending to be a savior and giving kindness everywhere!"

"George, we invest in the Quantum Fund to make money, not charity!"

"I need to be responsible for the boss, George I don't agree with your opinion......"

……

As soon as Soros heard the speeches of the so-called elites present, he unsurprisingly let out a chuckle when he had a plan in his heart. These sub-capitalists will definitely not have any mercy, otherwise how would they make a fortune?

To be honest, Soros is not willing to give up this opportunity, but his reputation and posture need to be done, anyway, with these vampires, he will not think that they will give up this opportunity.

"Nope! What we are doing is not wrong, not exactly, exacerbating the gap between rich and poor in this country. On the contrary, we are helping this country to go down the right path, not further down the wrong path. "There is no doubt that what we are doing is speculative. But the starting point of this behavior is not our malicious short selling, but the huge problems that have arisen in the Thai economy. And our speculation serves to remind governments of the need for urgent change. Take Thailand as an example, and they need to adjust the baht immediately. This kind of adjustment can avoid suffering for ordinary people, because it can still retain at least part of the capital. But if the Thai government delays the currency depreciation for longer, the worse the consequences of the eventual currency collapse will be, not only in the frenzied flight of foreign capital, but also in the depletion of the remaining foreign exchange reserves. Therefore, my personal opinion is that we do not need to go all out in the process of attacking the Thai baht, as long as we make the Thai government aware of their problems and promote their depreciation as soon as possible. ”

Rogers and Soros have been friends for many years, and they are familiar with singing double reeds. Inadvertently, Soros smiled and asked Druckenmiller, "Stanley, how much money are we currently investing in Thai baht?" ”

In the past few years, he has not done much about investment, and the specific things are all carried out through Druckenmiller.

"$23 billion, a very small share." Druckenmiller calculated and came up with a number that surprised everyone.

"The position is not small, so how much money do you think we need to invest now? How many positions are absorbed? ”

"Naturally, the more the merrier." A director spoke.

"$20 billion."

"$24 billion."

"$15 billion."

……

Soros pays attention to what kind of democracy is the formality, and he has the supreme authority within the quantum fund, so he said conclusively: "Add another $10 billion to your position." It is hoped that 10 billion US dollars can urge the Thai government to devalue the Thai baht as soon as possible, so that ordinary people can avoid suffering! May God bless them! Amen! ”