Morgan Stanley lost about $30 million in Friday's turmoil, but after paying the margin for the trade, Morgan Stanley's long position is still standing, without the slightest cut, and it is still the main force of bulls in the market.

In the turbulent October, Da Mo's proprietary division carried out hedging measures in the stock market and futures market, which was regarded as a lost corner and a good harvest.

Goldman Sachs, on the other hand, earned more than $10 million on the main contracts in November and December, but Goldman Sachs is not one of the top players in the short market, and there are even other financial companies with positions that surpass Goldman Sachs, including Zhong Shi's net worth.

In addition to these visibly large positions, there are countless market participants who are fighting for the main contracts in November and December. In fact, there are many transactions that are completed by program, and this kind of program trading generally belongs to hedge funds with certain quantitative strategies, and they either hedge or arbitrage on the futures index, and also form a large shili.

In addition to these institutions and large outdoors, it is natural that many small retail investors are also indispensable, but without strong financial support, they can only use their quick response to try to get a piece of the pie on the treacherous futures index.

On October 18, US Treasury Secretary Beck announced on a national television program that the United States would consider continuing to let the dollar fall if Germany did not consider lowering interest rates to stimulate the economy.

As soon as these words came out, they immediately stirred up a thousand waves!

At this time, Germany was still divided into two countries, East Germany and West Germany, and had not yet been reunified.

In the Plaza Accord of 1985, countries also agreed to allow the mark to appreciate in order to depreciate the dollar. Unlike the yen, the mark has taken the initiative to appreciate and raise interest rates to stimulate domestic consumption and balance the impact on exports due to the rise in the value of the currency.

Since Germany took the move to raise interest rates first before the mark appreciated, Germany's exports did not decrease, but greatly increased profits and raised the grade of exports, and the Plaza Accord put little pressure on the mark.

There are various explanations for the strong growth of the German economy under the Plaza Accord, one of which is that after the Plaza Accord, Germany actively carried out industrial upgrading, made its own products better, turned these export products into high value-added products, and grasped the pricing power, which was not affected too much.

There is also a theory that this is on the eve of the birth of the European Union, and there is such a huge market as the whole of Europe that is enough to absorb the shock of capital inflows. In addition, Germany has liberalized the exchange rate of the mark against the dollar, abandoning GDP growth and strictly controlling its inflation rate only through the increase in interest rates, so that the impact on the economy will be minimized.

In fact, the most important thing is that Germany's exports are not supported by wage costs, but by strong manufacturing. Germany's manufacturing industry is advanced, high-quality, and highly competitive, and is even known as the "factory of Shijie manufacturing factory".

The US Treasury Secretary is obviously very dissatisfied with the appreciation of the mark, but Germany's economic hinterland is in Europe, and he is also a little out of reach, and he can only achieve the depreciation of the dollar by shouting at the market.

Although it is only a few suggestive words, the impact on the market is catastrophic!

With the recovery of the U.S. economy and the prosperity of the U.S. capital market, countless international funds have flowed into the United States, especially petrodollars from Middle Eastern countries, overseas capital from Japanese conglomerates, and some large consortia in Europe.

If the dollar continues to depreciate, it means that the wealth represented by these funds will shrink significantly, which is intolerable for these capitals.

For example, a country in the Middle East has invested a billion dollars in capital into the U.S. capital market, bought a 10-year Treasury bond, and has almost no risk while still having a stable income. It is an ideal investment method when the value of the dollar remains unchanged, but if the dollar depreciates, then the money will be exchanged for 3.5 billion marks, and after the depreciation, it can only be exchanged for 3 billion marks or less, and the German government bond market even if the yield of long-term government bonds is much lower than that of the United States in the same period, but the discerning people will be willing to invest capital in the mark.

What's more, countless international capital has been invested in the U.S. capital market, and it was originally thought that with the depreciation of the U.S. dollar, it would bring about the growth of the U.S. economy, followed by the vigorous development of the U.S. stock market.

What will happen to their money if the dollar depreciates?

Although what the finance minister said is only a possibility, the first reaction of capital seeking advantages and avoiding disadvantages is: flee the United States!

The U.S. economy has been transformed and upgraded to be supported by the information industry, and under such circumstances, it seems that the U.S. will once again lead the economy.

In this case, the U.S. capital market is also thriving, coupled with the recovery of the manufacturing industry, the entire U.S. economy is developing in a good direction.

It's just that under the words of Treasurer Baker, these capitals will be retreated in a hurry.

Profit-seeking is always the nature of capital!

Zhong Shi, who had slept all day, saw the news in the middle of the night, at this time he was wearing a nightgown and sneering at the CNBC screen, it was finally time to come!

Before he could laugh enough, the phone rang rapidly, and Land Rover, who was standing on the side, looked at Zhong Shi who ignored the phone, his face was full of puzzlement, Zhong Shi first sneered at the TV full of ghosts, and the look on his face was full of smugness, and even a little hideous.

"Zhong Sheng, have you watched the news?" When Land Rover picked up the microphone, he heard Liao Chengde's anxious voice on the other side of the microphone.

"What's going on?" Land Rover scratched his head, pointed to the microphone at Zhong Shi, and signaled that the call was from Liao Chengde. He shook his head, shook off the doubts in his heart, and was about to leave.

"Brother Hu, is the Hong Kong stock account you prepared ready?" Zhong Shi stopped Land Rover's footsteps with one hand and asked seemingly nonchalantly. Some time ago, he asked Land Rover to prepare for Hong Kong stocks, and I believe that after this time, Land Rover should also be almost done.

"Xiao Zhong, it's all done, just wait for your order." In private, the two of them are called like this, but outside, Land Rover's name has become the respectful "Zhong Sheng".

"Okay, you don't have to accompany me tomorrow, let's go and see the plate! Remember, just look, don't move, the time hasn't come yet! Zhong Shi commanded lightly, and then he shouted into the microphone: "Lao Liao, you and Xiaohua will come to my house now, remember to be fast!" ”

Liao Chengde on the other end of the phone answered, and hung up the phone, on the other end of the phone, Zhong Shi faintly heard Liao Xiaohua's heavy snort, obviously Liao Xiaohua was also waiting by the phone.

“haode！” Land Rover didn't ask Weishenme, just nodded.

Liao Chengde's place is not close to the Repulse Bay of Zhongshi Real Estate, but after fifteen minutes, the Liao family's Mercedes-Benz drove into the Zhong family's mansion, Liao Xiaohua did not wait for the car to stop, he hurriedly opened the car door, jumped down, and shouted while running towards the main hall: "Zhong Sheng, what do you think of the statement of the US Treasury Secretary?" ”

Liao Chengde, who was following behind him, was not much steady, and followed behind Liao Xiaohua in three steps and two steps, his forehead was covered with sweat, obviously in a hurry.

"Xiaohua, what do you think?" Zhong Shi waited for the Liao father and son to sit down, took a slight breath, and then asked. Liao Chengde can't understand English, so what he knows must be what Liao Xiaohua told him, and this is the time to test Liao Xiaohua.

"I think it's a good time, especially with Baker's naked threat, maybe the market will go down tomorrow!" Liao Xiaohua took a deep breath, stabilized his emotions, and elaborated on his judgment.

Liao Chengde was full of doubts, and he couldn't say anything about Liao Xiaohua's judgment, but he believed in Zhong Shi's words very much, even to the point of superstition.

"Yes, Xiaohua, your judgment is very accurate." Zhong Shi said approvingly. Regarding Liao Xiaohua's sensitivity to the market, Zhong Shi really underestimated it.

"Dad, I'm right! Look at Zhong Sheng's praise of me! Liao Xiaohua was proud, the corners of his mouth rose, and he glanced at Liao Chengde defiantly, as if venting his dissatisfaction.

Liao Chengde's old face was a tiger, and he glared back viciously, as if he couldn't lose this face, and it seemed that he was warning his son not to get too carried away.

"However, Xiaohua, your judgment is not bold enough!" As soon as Zhong Shi's voice changed, he unceremoniously hit Liao Xiaohua.

The smug expression on Liao Xiaohua's face suddenly froze, and he lowered his head and fell into deep thought, thinking about what aspect he was not thinking about enough.

"This official statement of the United States will have a huge impact on the stock market, even no less than an earthquake, in the next few days, the world's major stock markets will fall wildly, and now it is just a matter of magnitude!" Zhong Shi unceremoniously used a "madness" to characterize the official statement of the United States.

"What? Crazy? How crazy will it be? Liao Xiaohua was stunned for a moment, and was stunned for a long time before asking tentatively. He previously judged that the capital market would fall in response to the general environment, but the strength and magnitude of the decline were much worse.

"What would you think if I said that there would be a massive stock market crash around the world, even like the one in 1929?" Zhong Shi said with a faint smile on his face, seemingly unintentionally.

"What? The stock market crash of 1929? Liao Xiaohua stood up, with a frightened expression on his face, and he said categorically: "This is impossible!" It's impossible! ”

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