Zhong Shi earned more than 70 million Hong Kong dollars from gambling, counting the return to Liao Chengde, buying a house and donating to the Hope Project, there is not much left in his hand, he has some money to invest in the Japanese stock market, but he does not plan to use that money, first, it is a little less, and second, the options in his hand are also approaching the delivery date.

In '85, Zhong Shi used the money he earned in the currency futures market to invest in options, a yen option worth $500 million at the time, with an agreed exchange price of 190.

Today, the yen has appreciated to 140 yen per dollar, and in just two years, the yen has nearly doubled, a rate that even veteran traders immersed in the foreign exchange market are stunned.

In fact, the yen's appreciation is coming to an end, and in '87, the United States was about to discuss with the treasurers of several major currency countries about the rapid appreciation of the yen.

Although the yen appreciated rapidly, under the active fiscal policy of the Ministry of Finance and the loose monetary policy of the Bank of Japan, the upward trend of the Japanese economy was not seriously affected.

At the same time, due to the appreciation of the yen, Japanese companies and consortia are actively purchasing large amounts of resources overseas to offset the adverse effects of the yen's appreciation, and Japan has surpassed the United States to become the largest creditor on Shijie.

But Chuneishi knew that this false boom would not last long, and that in two years' time, Japan's stock and real estate markets would collapse in the nineties, and the Japanese economy would be in a slump and fall into the so-called "lost decade."

This kind of bubble will not last long, in fact, history has proved countless times, and it will be proved again in the future, without the support of the real economy and the improvement of labor efficiency, no matter how prosperous the virtual economy is, it will be a thing of the past.

The return of Zhongshi's option has also reached a limit, although the yen will reach a new high at the end of '87, reaching an unprecedented 120, but Zhongshi will not be able to wait for that time.

It's time to exercise this option!

…………

Standard Chartered Bank Headquarters, Central, Hong Kong.

Standard Chartered Bank is also an old British bank, but its main business is in East Asia, not so much a British bank, but a bank registered in London, with its main business throughout the world. Oddly enough, Standard Chartered has very little business in the UK, where it is domiciled.

Like HSBC, Standard Chartered is one of the three commercial banks designated by the Hong Kong Monetary Authority to issue notes, the other being Huaxia Bank (Hong Kong) with a Chinese background.

Because of the particularity of Hong Kong's region, there is no such thing as a central bank, so the right to issue banknotes is handed over to two British-funded banks and a Chinese-funded bank, and when these three banks issue Hong Kong dollars, they must hand over US dollars to the HKMA at the exchange rate of 7.80 to 1 US dollar, and then they can print money, and it is precisely because of this that the exchange rate of Hong Kong dollars has also been maintained at a stable level for a long time.

This linked exchange rate system is close to a fixed exchange rate system, but Hong Kong, as a model of a free economy, has two parallel exchange rate markets, namely the interbank cash exchange market formed by the Exchange Fund and the note-issuing banks. In later generations, those financial predators used this relationship to attack Hong Kong's exchange rate system.

Let's say that on this day, Liao Chengde made an appointment with the foreign exchange director of Standard Chartered Bank in Hong Kong, and after the two sides officially sat down, the foreigner with blue eyes and a high nose was surprised to find that the young man who came with Liao Chengde was sitting in the second seat.

The director's name is Ryan, who has been working in Standard Chartered Hong Kong for 20 years, and has long been familiar with the Chinese people, who are not only fluent in Mandarin and Cantonese, but also have a good understanding of Chinese culture.

"Mr. Liao, I don't know if I can help you this time?" Although Ryan was a little surprised, he also knew the reason why Mount Tai collapsed in front of him and his face did not change, and it seemed that learning Chinese culture had a deep impact on him.

"That's right, Mr. Cooper, I have a sum of yen that I want to sell to your bank." Liao Chengde rubbed his hands and said with a little uncertainty, although he didn't understand what Zhong Shi ordered, he still did it.

"Oh, is it? I don't know how many yen you have? Ryan was disappointed, he thought there was something important at first, but when he heard that it was about buying and selling foreign exchange, he shook his head slightly. The central bank, large commercial banks, and financial institutions are all engaged in transactions in the foreign exchange market, and this kind of private trading generally does not have much quota, and it does not require his supervisory level.

"It's about 100 billion yen!" The preference for watching from the sidelines is a little unhappy. The disappointment that flashed in the eyes of the well-dressed gentleman did not escape his eyes, which made him a little dissatisfied with the bank's service attitude.

"What? 100 billion yen? Ryan was taken aback, he thought it was only a few hundred million, billions of yen, before the meeting, he also investigated Liao Chengde's net worth, knowing that this rapidly rising rich man has taken Li Ka-shing's express train in recent years, but even so, there will not be much.

As soon as the young man sitting beside him spoke, he reported an amount that made Ryan's face change color.

100 billion yen, which is equivalent to more than 700 million US dollars in US dollars, is 5.5 billion when converted into Hong Kong dollars. In this instant, Ryan's mind quickly converted the corresponding amount.

Now that the yen is appreciating so fast, the foreign exchange trading department in charge of Lane has also made a lot of money in yen trading in the past two years. Since HSBC's profit plummeted last year, Standard Chartered has been ambitious to keep its old rivals under pressure this year, and the profit targets of all departments have improved significantly compared to the previous year.

If you have this amount of money, as long as you go around in the foreign exchange market, hundreds of millions of Hong Kong dollars of profits will come out. Ryan thought about it and understood what the situation was now.

"Mr. Liao, I will buy all the yen in your hand at a good price, yes, all of them!" Ryan said in a determined tone.

"Sure enough, it didn't surprise Zhong Shi!"

Liao Chengde stopped talking, and such a sentence came out of his heart. Ryan's reaction in front of him was exactly what Zhong Shi had speculated before.

Although trading in the foreign exchange market, the daily funds are calculated in billions, but how can a bank registered in Europe and whose main business in Hong Kong be compared to those American banks and Japanese banks. Banks like Standard Chartered and HSBC are still small in the international financial market, especially in the United States.

One of the characteristics of bankers is that they are particularly greedy for profits. If possible, even the thighs of mosquitoes, they want to dig a piece of meat from them.

"I wonder what price you want to buy?" Zhong Yi was interested, tilting his head and asking.

Ryan hurriedly got up, politely stretched out his right hand, and a warm smile appeared on his face: "Ryan Cooper, I don't know what this gentleman is called?" He thought that he was Liao Chengde's follower, so he didn't care, but as soon as he said a few words, he realized that the young man in front of him turned out to be today's protagonist.

"Favorite." The young man's hand shook slightly, and a smile appeared on his face.

"Like? Interested? Good name, I like it. The smile on Ryan's face was even stronger, and he complimented him. In Cantonese, "Zhongyi" means to like, which is a pun.

"I bought it all at one hundred and thirty-nine, what do you think?" After the two sides were seated, Ryan couldn't wait to say.

"One hundred and thirty-nine? Mr. Cooper, to tell you the truth, before coming to Standard Chartered, we just listened to the offer next door (HSBC) and the price they gave was much more attractive than yours! Zhong Yi shook his head and said with some dissatisfaction.

"Oh? I wonder what price they offer? Ryan frowned, and a bad feeling came over him, the truth seemed to be much more complicated than he had imagined.

"It's a trade secret between me and them, Mr. Cooper asked, it seems a little inappropriate!" Zhong Yi hit haha, and the topic was diverted.

"I'm sorry, I was rude. Can you wait a moment and wait for me to discuss with my superiors and make a satisfactory offer? Ryan knew that raising the offer would be beyond his authority.

"But I need to warn you, Mr. Cooper, that, according to our research, the yen could rise to the 120 mark at most." Zhong Yi shrugged his shoulders and made a gesture of respect.

Ryan nodded, and closed the door to the reception room.

Ten minutes later, Ryan came in with an latest foreign exchange statement, handed the paper to Zhongyi, and said with a solemn face: "After discussion, our highest price can only be one hundred and thirty-six, and it can't be lower." As you know, the foreign exchange market is very risky, and we are already not very optimistic about the prospects for the yen to appreciate, and we think that the inflection point will soon come. ”

"Deal!"

Zhong Yi scanned the statement slightly, and the exchange rate between the yen and the dollar on it had risen to one hundred and thirty-nine, which is the latest foreign exchange market quotes. HSBC's offer was only one hundred and thirty-nine, and they made it clear that this was their reserve price, and in that case, the money could only be earned by their opponents.

"Happy working together!" Ryan held out his hand and shook it heavily with Zhongyi. This time, I shook it vigorously and sincerely.

"Oh, by the way, and forgot to mention one thing, before that, we need a loan of five hundred million dollars!" Zhong Yi scratched his head, with an apologetic look on his face.

"......" Ryan was stunned for a moment, not understanding what he meant to say, but after a moment he came back to his senses and shouted out in a gaffe: "Options, it's options!" ”

"Worthy of a professional, smart!" Zhong Yi gave a thumbs up and complimented.

"Time limit? Agreed price? Ryan didn't bother with the compliment, and asked quickly, even his breathing was a little shorter, and he finally figured out where the 100 billion yen came from.

"Two years, one hundred and nineteen!" The words of affection made Ryan gasp!

(Recently, there was a very coke incident in the domestic bond world, where a "chief editor" made an ultra-low-level mistake in bond yields, which was ridiculed by the entire financial circle.) For details, see "A controversy over the downgrade of the United States", the original article can be searched online. If you are interested, you can ask me in the book review area below the book)

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