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At this sensitive moment of Xiangg's return, the so-called financial turmoil broke out in Asia, and the meaning of this is intriguing. Pen ~ fun ~ pavilion www.biquge.info

Like a school of sharks smelling blood, international financial speculators began to frantically bite and prey on Asian countries.

Thailand has been hit hard again.

In order to boost market confidence, Thai Prime Minister Cha Erly had to make a televised speech: "I reiterate once again that the baht will not depreciate, and we will let those speculators lose their money." ”

However, swear is an oath, and the financial markets will not change because of his oath. By this time, the Bank of Thailand had run out of ammunition, and its only $30 billion in foreign exchange reserves had long since been spent. Just two days after the Prime Minister's speech, the Bank of Thailand was forced to announce a floating exchange rate system, abandoning the 13-year-old exchange rate system in which the Thai baht was pegged to the US dollar. On the same day, the Thai baht fell by 20%, and then the governor of the Bank of Thailand, Luncha "Malaka", announced his resignation, and on August 5, the central bank of Thailand decided to close 42 financial institutions, so far, the Thai baht was completely lost.

The same situation is happening with Thailand, including the Philippines, Malaysia, and Indonesia......

The Asian Tigers are all their targets.

These countries have just been praised by the media, saying that they will soon catch up with and surpass the developed countries, but in the blink of an eye, they have become the delicacy in the mouths of giant crocodiles, bitten to the fullest, and accumulated decades of wealth, which were swept away by them in just a few days.

In mid-August, there was finally some change in the foreign exchange market.

At this time, Lin Hong did not stay in the villa of the third senior brother anymore, but moved to the Taikoo Building at No. 8 Connaught Road Central, Central, Xiangg Island.

To the north of Swire Towers is the beautiful Victoria Harbour, one of Central's most prosperous business districts.

Lin Hong and Phyllis have been here for some time, and they chose this place for no other reason than because JPMorgan Chase's Asia-Pacific headquarters is here.

In order to facilitate the mobilization of funds, coordinate relations, and respond in a timely manner, Phyllis asked the bank manager to allocate a special hall as the operational headquarters of the operation.

To tell the truth, Lin Hong's previous pattern was still a little smaller, he originally thought that two billion US dollars should be enough, but from what he has learned these days, his money, thrown in the market, can hardly hear a sound, and the water can't fight.

Of course, he didn't expect that he could compete with them alone, he just wanted to take advantage of this opportunity to get some food out of their mouths.

However, with Phyllis on board, his plans were modified.

Phyllis didn't have much interest in this operation, but she came over, mainly to play and meet her stone brother. And now, her mind is all drawn to Xiangg's financial market, according to the information she has learned, what will happen here is not small, and it is worth her to give it a go.

A few days ago, Phyllis urgently dropped a group of financial professionals from the headquarters to enrich their two-person team.

That night, she was woken up by one of her men.

When Phyllis arrived at the battle hall, Lin Hong was already there.

The people under her staff reported to her: "Miss Morgan, there has been a great fluctuation in the Xiangg foreign exchange market tonight, and the data shows that a number of powerful investment funds have entered the Xiangg foreign exchange market. ”

After Phyllis heard the news, she couldn't help but perk up: "Finally started to hold back?" ”

Seeing that the exchange rate of the Hong Kong dollar against the US dollar in the monitor began to decline, Lin Hong said: "Check the reason." ”

As soon as he finished speaking, someone immediately started calling.

This information is basically transparent, and as long as there is enough relationship, you can get this information in the first time.

Among the team they formed, some of them flew directly from the United States, and some of them were local financial talents, some of whom were found with the help of JPMorgan Chase Bank, while others were found by Lin Hong through Huang Yue's connections.

Huang Yue naturally did not refuse Lin Hong's request at all.

Regarding the last time he was invited to the banquet of the Li family, Huang Yue specially came over to explain to him, saying that he came on behalf of Mr. Li Jialun, apologized for the last time, and wanted to invite him over again to discuss the plan.

Lin Hong didn't care much about this, but when he said this, he was reluctant to set foot in the Li Mansion again, and he was not interested in what Li Jialun said about discussing the plan.

He learned from Huang Yue that they believed that the financial predators, led by the Quantum Fund, should snipe at the Hong Kong dollar in the same way as they did against other countries in Southeast Asia.

But Lin Hong has his own opinion in his heart.

In this regard, Lin Hong didn't say much, he was slight, and he was not a professional in this industry, even if he said something, the other party probably just laughed at it and would not take it seriously.

The people they invited back all passed Lin Hong's personal interview, at least there were basically no problems in terms of professional ethics.

After Lin Hong's order was issued, soon after, a young man wearing glasses reported to him: "Some people are shorting the Hong Kong dollar, they use financial futures means, and they used 3-month and 6-month Hong Kong dollar futures to buy Hong Kong dollars in the past period, and they are currently shorting. ”

As soon as his words fell, the exchange rate curve in the monitor began to continue to decline, from 783 to 782, 780...... And there is a continuous downward trend.

Following this trend, soon the exchange rate of the Hong Kong dollar against the US dollar will fall below $775.

775 is a special position′s important psychological key point known as the Hong Kong dollar exchange rate.

Under the Hong Kong Dollar Linked Exchange Rate System, the Hong Kong dollar is pegged to the US dollar at the midpoint of HK$1 to HK$780, with a floating range between HK$7.75 and HK$7.85.

Once it falls below this level, it will have a relatively large impact on the market, and the financial authorities must take corresponding measures to stabilize this price level and prevent it from continuing to fall. In order to stabilize the price, it is necessary to buy US dollars and sell Hong Kong dollars, so as to suppress the Hong Kong dollar and prevent the Hong Kong dollar from appreciating.

This time, the action was actually based on Lin Hong, supplemented by Phyllis, which was something they had agreed on before.

During this time, Lin Hong has been learning some knowledge in the field of finance from Phyllis, and of course Phyllis is not stingy to accept him as a student.

The reason why he became interested in finance was that Lin Hong wanted to have an in-depth understanding of the laws behind finance and prepare for the writing of electronic money in the future.

In fact, Lin Hong is so actively involved in the financial game this time, the main purpose is still this, and making money is only secondary.

Needless to say, Lin Hong's talent is naturally very fast, his learning progress is very fast, so fast that Phyllis has opinions about him, complaining to him that students are not like this, at least leave some room for the teacher to play.

The exchange rate finally touched the key point of 775 and began to continue downward.

Everyone was looking at Lin Hong, waiting for his next instructions.

"Wait." Lin Hong spit out such a word for a long time.

Phyllis knew he meant to wait for the Fragrant Government to make a move.

This is just a test of the Hong Kong dollar by those financial giants, and it is completely wrong to test the waters.

Sure enough, it didn't take long for the downward trend of Hong Kong dollar interest rates to stabilize, and the Xiangg government began to take action to maintain the stability of the exchange rate.

At this time, Lin Hong immediately said: "Eat the Hong Kong dollars they tossed!" ”

In order to keep interest rates at this level, the Hong Kong government had to buy US dollars and sell Hong Kong dollars, and they just took all these Hong Kong dollars.

By the early hours of the next morning, they had eaten a total of about $300 million in Hong Kong dollars.

In the morning news, Financial Secretary Donald Tsang Yam-chuen issued a press conference announcing that the Hong Kong government had successfully repelled a wave of speculation against the Hong Kong dollar last night.

In order to continue to crack down on these financial speculators, the government also took a series of measures in the following period, such as tightening the monetary policy, the HKMA raised the interest rate on loans to banks, forcing banks to return their excess positions.

In other words, in the early stage, in order to short the Hong Kong dollar, Soros and his ilk borrowed from the bank, signed a contract, and once it expired, they had to return the Hong Kong dollar.

But now, the HKMA has introduced some measures so that you will not be able to buy enough Hong Kong dollars at that time, so that he will not be able to borrow Hong Kong dollars, so that he will not be able to pay back the money, and if the contract expires, he will still not be able to pay it back, then he will lose.

Even if the other party can buy Hong Kong dollars, its cost will increase, and its wishful thinking of selling Hong Kong dollars at a high price, and then buying at a low price to repay the loan after the Hong Kong dollar falls, will not work.

Almost overnight, the interest rate on Hong Kong dollars borrowed from banks skyrocketed to 140 per cent of the original interest rate.

The other small scattered people who drank the soup behind these giant crocodiles were deterred by the extremely high cost of speculation.

These measures by the HKMA have proved to be very effective. A few days later, the Hong Kong dollar foreign exchange market returned to its usual calm.

These financial speculators retreated, and their first wave of operations ended in failure.

They finally bought Hong Kong dollars to repay their previous loans, but the price of Hong Kong dollars at this time was even much higher than the price when they borrowed money before, which means that they bought Hong Kong dollars at a higher price than before to repay them.

Many in the industry wondered how the HKMA had managed to buy Hong Kong dollars in the end, given the strict restrictions imposed by the HKMA.

Where did such a huge amount of Hong Kong dollars come from?

This answer is not clear even to those speculators, they only know that at the last moment, a mysterious seller suddenly appeared in the market, they put out a huge Hong Kong dollar sell order, although the price is a bit high, but it is better than nothing, a little loss is still acceptable, after all, it is only a temptation for the time being, and this is not their main battlefield.