The sharp drop in the won for several days has completely shattered the illusion that the current government, which has only a few days left to function, will continue to sit firmly in the Blue House. At the suggestion of the president, Finance Minister Lim Chang-yeol and the three most vocal presidential candidates and central bank governor Park Hee-rae were summoned to the Blue House for an emergency meeting after the close of trading on the 15th to discuss countermeasures to the current situation of the South Korean won's sharp decline.

After a slight greeting, he flattered Kim Dae-jung, Lee Hui-chang and other non-party candidates for the first time, and then turned to the topic: "Recently, there have been a lot of rumors about our Republic of Korea, and we are at a loss for what we can do, and there is nothing we can do. You are all elites of the Republic of Korea, and there is a high probability that you will become the Blue House in the future, so we need to consider continuity in our policies, and I hope that you will put aside your partisan prejudices and work together to serve the country at this time when the country is in crisis. ”

Speaking of this, Lin Changyeol deliberately stopped and carefully studied the reactions of several people, among which the observation of Jin Dazhong and Li Huichang was the most detailed.

Except for Lee In-je, the candidate of the New Korea Party, the other two candidates all snorted coldly in their hearts, and they all thought in unison: Now that they think of us, why don't they want to listen to our opinions when they were messing around before! However, Kim Dae-jung and Li Huichang are not mortals, although they have slandered all the important people of the current regime in their hearts, the expressions on their faces are extremely dignified, and they are all "doing their best." Dead and gone".

Among these people, Park Xilai's expression was the most relaxed, knowing that he had already done everything he could. Even if someone wants to take the opportunity to make trouble, he only needs to put all the blame on the Ministry of Finance, who has made the Bank of Korea have been criticized for its independence!

Lin Changlie was very satisfied with their reaction, nodded slightly, and then continued: "First of all, let me tell you a good news. Just now, the IMF and most of them reached an agreement to increase the $200 billion base by 80 percent. Countries added another $160 billion. Although the vote on this part of the funds is weighted. However, the U.S. side has communicated with us privately and pledged to fully support us in the use of this part of the funds. That means that we have a high probability of receiving more aid than $57 billion in the future. ”

"Really?" As soon as Lim Chang-yeol's words fell, Lee In-je, the presidential candidate of the New Korea Party, showed a surprised expression on his face. "In that case. Then we'll get the news out of the box now. While there may not be a rebound in the won market tomorrow, it will at least alleviate some of the pressure we are currently under. In this way......"

It's just that before he finished his words, he heard a cold snort of disdain coming from his side. Li Renji's words suddenly came to an abrupt end, and he turned his head to look at Park Hee-lai, who was sitting beside him, unpleasantly, only to find that the central bank governor was nostril-facing and had a sneer on his face, and anyone could see that Park Hee-rae was obviously dismissive of his proposal.

Li Renji's face immediately turned red, and after being stunned for a long time, he pointed at Park Xilai and reprimanded in a tone of shame and indignation: "You...... What is your attitude? You bastard, how dare you disrespect me......"

"Watch your words!" Park Hee-rae lowered his head, glanced at Lee In-je with disdain, then rolled his eyes widely, looked at the ceiling again, and sneered twice, then said, "Mr. Lee, I don't know how do you think that as long as this news is released, the pressure on the Korean won's decline will be slowed down?" If the market believes that the Republic of Korea is simply unable to resolve the current contradictions, and that it is likely to demand more aid, the won may continue to fall, and the proposal you choose will become a joke. ”

"You...... You ......" gave him such a reprimand, Li Renji was almost about to shoot the case, but when he saw Lin Changlie's gloomy eyes, he suddenly shuddered, frowned and thought for a long time, then shook his head in retaliation, snorted coldly in his nose, and began to study the ceiling.

Since Lee In-je has the lowest poll among the three, Park Hee-rae doesn't take him very seriously at all. And the most important thing is that he has now hugged the thigh of Kim Dae-jung, who is most likely to succeed in the election, so even the current finance minister Lim Chang-yeol, he doesn't pay much attention to it.

"In that case, let's wait for the IMF to announce it itself!" Lin Changyeol thought about it, set his eyes on Kim Dae-jung and Park Hee-rae, and found that they both nodded imperceptibly, and knew that Lee In-je's proposal might not be effective, "Then next, let's all work together to think about what else can be done to stop the Republic of Korea's currency from continuing to fall." That, Governor Park, you're an expert in this area, so let's talk about your views first? ”

"Me?" Park Xilai was a little stunned, and secretly looked at Kim Dae-jung again, and found that he blinked, so he made up his mind, "Since Minister Lin is named, then I will throw bricks and lead the jade." Under the current circumstances, the currency of the Republic of Korea has been attacked by international capital, and it has evolved into a financial crisis. However, due to the frequent news of bankruptcies of large domestic companies and the market's doubts about the ability of the Republic of Korea to bail out, the won fell by more than 40% against the US dollar in just a few days. ”

"Internationally, there are undoubtedly two ways to deal with the currency crisis, the first is to increase the cost of short sellers by raising interest rates, so that they can retreat. But this is no longer applicable at the moment, because our currencies are effectively free floating, and there is no point in restricting them, and if interest rates are raised, the costs for domestic companies will increase further, and I am afraid that the number of bankruptcies will increase exponentially. ”

"Then there is only one way left, which is to intervene in the performance of the national currency in the foreign exchange market through a central bank. However, I can tell you without a doubt that the Bank of Korea is running out of dollar reserves at the moment. There is only a measly $3 billion, and it has not been replenished because it has consumed a lot of money to defend the won, so if I want to make a difference, I can only hope that the Treasury Department will allocate the IMF relief funds to us. ”

said a lot of things freely, and only after the last did he understand the real meaning, but just as Park Xilai thought in his heart, Lin Changyeol categorically rejected his proposal: "No! ”

Perhaps realizing that his tone was too blunt, Lin Changlie lowered his tone again and explained in detail: "According to the agreement we reached with the IMF. These funds are intended to stabilize the banking sector. Mainly to repay short-term foreign debts, there is no preparation to intervene in the foreign exchange market at all. If we use this fund rashly and let the IMF know about it, I am afraid that the allocation of the next fund will be a problem. Therefore. For the Republic of Korea. Nor can we use the funds. ”

"Again for the Republic of Korea. Isn't my proposal for the Republic of Korea? Park Hee-rae rubbed his nose and said something in his heart, and then began to study the ceiling again.

"Mr. Kim. Do you have any practical and urgent solutions to the current plunge in the won? After seeing that the proposals of the people on his side were all rejected by himself, Lin Changyeol turned his head to Kim Dae-jung and Li Huichang, who had been listening carefully, and first asked Kim Dae-jung, who was currently the most vocal.

"Me?" Jin Dazhong pointed at himself, and when he saw Lin Changyeol nodding, he smiled and said, "Let's let Mr. Li say it first, I have an immature plan in my heart, please allow me to consider it first." ”

When he said this, he not only showed that he already had a relevant plan, but also skillfully shifted the pressure to Li Huichang's side.

Sure enough, when Li Huichang heard him say this, his whole face immediately collapsed, but after his eyes rolled a few times, he deliberately said dissatisfiedly: "Mr. Jin, how can you be like this?" You must know that now we are discussing the fate of the whole country, even if there is something useful, we must not hesitate to frankly announce it to everyone here, after all, everyone can consider more comprehensively than you think alone, right? ”

In the face of Li Huichang's agitation, Jin Dazhong only smiled slightly, sat firmly on the Diaoyutai, and began to look at his nose and nose to recuperate, completely ignoring Li Huichang's words.

Seeing that his biggest opponent ignored him, Lee Huichang couldn't help but be a little annoyed, but this was really not the time to attack, because there was also a candidate Lee In-je who was also eyeing the presidency. If he behaves in any way here, and is made out of the question by Li Renji, Lim Changyeol, and others, I am afraid that the impression of the entire bureaucratic system on him will plummet at that time, and it will even affect the performance of public opinion.

He decided to endure it, and put up with it first. Isn't there a saying in Huaxia, called: A gentleman takes revenge, ten years is not too late. Li Huichang, who is deeply influenced by Chinese culture, knows this truth very well, and as long as he can become president, the humiliation he suffered today will be returned tenfold or hundredfold.

Li Huichang, who calmed down, began to talk endlessly, but everything he said was nothing new, and even many things were currently being implemented by the South Korean government, that is to say, what he said was basically nonsense, and it did not play a role in the current short-term trend of the Korean won.

After talking for half an hour, Li Huichang closed his mouth in the impatient eyes of everyone, took a sip of tea slowly, and then said to Jin Dazhong with bad intentions: "Mr. Jin, is it your turn to talk about it now?" ”

"Yes! Oh, yes! Li Renji, who was already drowsy from listening, was in high spirits, and hurriedly opened his mouth to echo.

Lin Changyeol, who presided over the meeting, also took the opportunity to say: "Mr. Li's words are very constructive. Well, if it is implemented, I am afraid that it will not have much effect on the monetary performance of the Republic of Korea in the short term. However, we would like to thank Candidate Li for his excellent speech. Now, Mr. Kim, please tell us about your high opinions. ”

While the meeting was nominally a discussion on how to deal with the current malaise of the won, it was clear to those who attended that what they were discussing would soon circulate throughout the bureaucracy as soon as the meeting was over. Therefore, it is not so much about how to boost the won as about how to gain the approval of the entire Korean bureaucracy and demonstrate its ability to govern.

Jin Dazhong took a sip of tea with a smile, and then said in a good time: "Actually, what we discussed today seems to be extremely difficult, but in fact, it is very simple to solve. I promise. As long as my method is implemented and I guarantee that the effect can be seen immediately, the won market will definitely rise sharply tomorrow. And the whole process is a gesture, oh no, it's just a matter of mouth. ”

As soon as these words came out, the faces of several other people suddenly showed a look of surprise, and only Park Xilai, who had known the Tao in advance, still had a calm expression, staring at the teacup in front of him and studying it.

"Mr. Kim, what do you say is also a presidential candidate. It's better not to talk in the vernacular. So as not to be seen as a joke at some point. Just taken aback for a moment, Li Huichang said in a weird manner.

It's normal for him to behave like this, because the two people with the highest voices at the moment are him and Kim Dae-jung, and Lee In-je may not have much of a chance. And I just said it for a long time. As a result, he was euphemistically criticized by Lin Changyeol as "not much effect". He held back his anger. Now that Kim Dae-jung actually said the words "raise your hands", compared with the two, he naturally began to feel extremely unbalanced in his heart.

Kim Dae-jung glanced at Li Huichang meaningfully. He took another sip of the teacup and said slowly, "In fact, since the Republic of Korea has given up on maintaining its currency, our currency has fallen to an unbelievable point. With the intervention of the IMF, it should be said that the entire country's economy will no longer have too big problems, whether it is the annoying foreign debt or the crisis in the domestic financial system, as long as we are given time, we have the ability to solve it. The big deal is to implement state control, and it is enough to guarantee it with the government's credit. According to my analysis, the reason for the current plunge in the market is very likely that international capital led by vulture funds is carrying out a new round of speculation, hoping to achieve their goal of continuing to short. Guys, am I right? ”

Vulture funds are hedge funds, also translated as hedge funds, but vulture funds are the most closely spoken, which fully reflects the operating style of this type of fund. Like vultures that specialize in poaching corpses, what these funds do best is rubbing salt on wounds.

Seeing that there were no objections from several people, Kim Dae-jung continued with a smug face: "As long as we release the news that this is the vulture fund that is taking the lead in releasing false news, the purpose is to withdraw from the won market, so that other banks and funds that follow the sale will no longer continue to sell because they are afraid, but will go long because of the news such as the IMF's increase in capital, so that the pressure on us will be self-defeating." ”

"Good!" Lin Changyeol was an insider and the first person to react, he slapped the table and shouted loudly, "Mr. Kim, your method is really effective, at least in the short term, you can ensure that the won will not continue to fall." I'll do as you say! ”

Li Renji also shouted at the right time: "Okay, I'll arrange it." After saying that, he immediately stood up, raised his feet and walked out.

"No need!" For this naked performance of picking peaches, Kim Dae-jung's face suddenly showed contempt, and after exchanging a look with Park Hee-lai, he said sarcastically, "I won't trouble you as candidate Li." We're already working on this, so let's wait and see how the market performs tomorrow! ”

As soon as he heard this, Li Renji's figure, which had already taken steps, froze, and it took a long time before he retracted his steps with difficulty, and reluctantly squeezed out a smile at Kim Dae-jung, who was sneering, and then sat down in his position, his whole face was so gloomy that he was about to drip water.

And after Li Huichang, who was also just active, heard this, it was as if someone had poured a basin of cold water from head to toe, and the chill to the bones ran from the Tianling cover to the soles of his feet. However, seeing Li Renji's almost clown performance, his cold heart warmed up a little, and a mocking smile appeared on his face.

Regarding the open and secret battles between the three of them since the meeting, Lin Changlie naturally saw it in his eyes. Originally, he wanted to help Li Renji, but the other party was too cunning and had arranged things almost without flaws, so he couldn't do anything. However, at this time, his attention was not at all on the scene just now, but was attracted by the "we" that Kim Dae-jung said.

looked at Kim Dae-jung, who was smug-faced, suspiciously, and then stared at Park Hee, who was studying the teacup happily, and looked at it for a while, Lin Changyeol gradually came to his senses, and sighed secretly in his heart.

The next day, when the news came out of the market that hedge funds had begun to withdraw, the won suddenly rose with a vengeance, which caught many institutions short the won off guard. Many institutions that were crazy about shorting in the first two trading days were deeply trapped, and the quantum fund, which was the protagonist of the rumors, was scolded by them. When the news reached Soros's ears, the big man only felt inexplicable, but fortunately, he didn't have to worry about his debts, so he just shrugged his shoulders and revealed the matter.

Just today, the rupiah position that plagued Soros finally had a preliminary solution, and it is said that the fund that sold them to the rupiah earlier wanted to buy back this part of the rupiah, and contacted through HSBC and Quantum Fund. When they heard the news, both Soros and Druckenmiller were overjoyed, and naturally they no longer had the heart to pay attention to the messy rumors in the won market. (To be continued......)

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