In the face of rounds of attacks from international speculators, Qin Baht is already in jeopardy. In order to stabilize people's hearts, on June 30, Thailand's "General Manager" Cha Erli made a televised speech: "I reiterate once again that Thailand will not depreciate, and we will let those speculators lose all their money." Swear to swear, but its financial market is like a dou who can't be supported. At this time, the Bank of Thailand had run out of ammunition, and the only foreign exchange reserves of $32 billion had long been gone, and it was impossible to borrow funds for a while, and the Thai exchange rate fell one after another.

Just two days after Thailand's "General Manager" theory, the Quantum Fund smashed the big single move in its hands, and the Thai government could no longer afford this heavy blow, and the Bank of Thailand was forced to announce the implementation of a floating exchange rate system, abandoning the 13-year-old Thai exchange rate system pegged to the US dollar.

On the same day, Thailand fell 20%.

On July 29, the governor of the Bank of Thailand, Malaka, announced his resignation. On August 5, the Bank of Thailand decided to close 42 financial institutions, and Thailand finally collapsed completely.

At the same time, the Quantum Fund has begun to crack down on the Philippine peso, and international currency speculators have followed suit, with the Bangko Sentral ng Pilipinas trying to raise interest rates four times in a week, announcing a widening of the volatility of the peso's exchange rate against the dollar, and devoting all its foreign exchange reserves to the peso in an attempt to save its crumbling financial edifice. Helplessly, the general trend has gone, and the Philippines has no power to return to the sky with all it has.

On July 11, the Bangko Sentral ng Pilipinas (BSP) announced that it would allow the Philippine peso to fluctuate in a wider range, and for a time, the peso depreciated miserably, in fact, marking the end of the battle to defend the peso.

With Thailand and the peso captured, Soros' quantum fund and international currency speculators are targeting Malaysia and Indonesia next.

Malaysia's central bank tried to raise the cost of shorting the Malaysian ringgit to stop Soros and speculators, and Indonesia also stepped in to support the rupiah. But in the end, the low level could not stop the large amount of US dollars in the hands of Soros and international currency speculators, and the exchange rate of the ringgit yalinge and the Indonesian rupiah against the US dollar fell like a dive.

The loss of positions in neighbouring countries began to affect Singapore's currency, which has long been known as the "currency of refuge". Despite measures such as raising interest rates, the Singapore dollar continued to fall against the US dollar, despite measures such as raising interest rates and a fire at the city gate, which affected the fish in the pond.

Under the tough posture of Soros and many international currency speculators, governments around the world felt powerless, gave up their defense actions, and began to give in, looking like they would not fight back. Let the national currency rise and fall in the market. On the other hand, "international currency speculators are even more emboldened, calling for wind and rain in the Southeast Asian financial market, and running rampant."

Southeast Asia's currency sniper war has put everyone at risk, and the financial authorities of various countries have done everything they can to avoid falling into this quagmire, and even the United States, which has been watching from the sidelines, has begun to take a stand, and the Federal Reserve Board Chairman Sch Greenspan said that he is particularly "disturbed" that the crisis is largely involving one country and another, and that the United States is willing to help, "the countries affected by this fluctuation."

"Thailand has probably suffered the most from the crisis, as the country has been hit rock bottom by a violent financial turmoil." Before that, Thailand was dizzying as one of Asia's "Four Tigers", with one small owner recalling: "It seemed like we were so rich that everybody was getting ready to buy a Mercedes." They are keen on beach houses, such as Swiss Omega, French XO, German Mercedes-Benz, and Panasonic.

Like the Americans, they also arrange annual trips to Europe in style; The child is sent to a private school............ When you meet a country housewife or even a street vendor on the outskirts of Bangkok, you might be part of an army of stocks: "Money comes so easily," and they say in such a joking tone that they are preparing to travel to Europe. But now, "the Thais watched in amazement as Soros and others snatched everything from them that was rightfully theirs; The family car is towed away by the police, unemployment begins to bother them, romantic trips to Europe are cancelled, and children are transferred to cheap public schools......

Mahathir Mohamad, the general manager of Malaysia, said: "This guy (referring to Soros, of course) came to our country, and overnight, more than ten years of struggle of our people in the country came to naught. Cha Wang, the president of a Thai bank, said: "We can only watch as Soros, a rogue robber, robbers rob us of the wealth we once had, and we just want to say, don't you just want money?" For all Southeast Asians, a fortune they once had in the past was wiped out in an instant, said Chanuhuast, president of Sarmat Telecom: "Bangkokians haven't even had time to enjoy the glory, the cars have just come off the production line, and the new paint on the houses has not yet dried. But they have lost everything.

Indonesian musician Bonni Legumahe, who has been fighting for 30 years to buy a dream huā garden, was about to move in when a storm came, "I had to quit it." ", he said.

No matter what these Southeast Asian countries say or say, the international speculators led by the Quantum Fund are full of money, and they have a lot of dollars in their hands and aim at Hong Kong, China. And Qin Zihe's plan is over, first, it is impossible for him to attack his motherland, and second, he knows that international speculators cannot take any advantage in Hong Kong at all, and with Qin Zihe's current position, Hong Kong's financial problems have not yet been said by him, and there is no need for him to worry about the sky!

The financial turmoil that began in Southeast Asian countries and swept the whole of Asia suddenly brought the whole of Asia into an era of economic regression............

Soros once said afterwards: "In terms of financial operations, there is no morality or no morality, this is just an operation." The financial market does not belong to the category of Taoism, it is not not Taoism, and Taoism does not exist here at all, because it has its own rules of the game. I'm a participant in the financial markets, and I'm going to play the game according to the rules that I've set, and I'm not going to break them, so I don't feel guilty or responsible. As far as the Asian financial crisis is concerned, whether or not I speculate will not play any role in the occurrence of financial events. I don't hype it and it will happen. I don't think there's anything wrong with speculating in foreign currencies or speculation. On the other hand, I follow the rules of operation. I respect those rules and care about them. As a person who has virtues and cares about them, I want to make sure that these rules are conducive to building a good society, so I advocate changing some of the rules. I think some of the rules need to be improved. If the improvement and improvement affect my own interests, I will still support it, because the rule that needs to be improved may be the reason for the incident. Qin Zihe believes that although Soros's words are suspected of defending himself, they also tell the real reason for the Asian financial crisis!! ~！