Chapter 108: The Asian Financial Crisis Begins
"Hey...... No, I said Dad, are you going to let me go home and kneel on the washboard? If my mother found out, I wouldn't be punished! Although I'd love to try it too. Luo Tiancheng hurriedly stopped Luo Yiming's next move.
I don't know when it started, Liu Yunxi actually knew the punishment method of kneeling on the washboard, and often scared the occasionally disobedient sister, every time my sister heard it, her eyes were full of tears, and she stared at Luo Tiancheng with a look of hope, Luo Tiancheng felt as if he had made a big mistake, the key is that the caster is not himself, old sister, are you looking at the wrong object.
Looking at Luo Yiming's expectant eyes, Luo Tiancheng coughed twice, like an important person, Luo Yiming couldn't help but roll his eyes: "I have recently collected a batch of super tea leaves in my hand, and I have soaked it out of the all-round No. 1 auxiliary liquid that can promote the evolution of your super soldiers, hum, I spent a lot of money to buy this, and now the price has increased several times." A full 10 million pounds, bought you two pounds, 20 million, you see that your son is good to you, or you will reimburse me. ”
After saying that, he pretended to stretch out his hand, Luo Yiming's eyes flashed with a hint of emotion, and when he saw his son's appearance, he slapped away Luo Tiancheng's hand that was about to reach out to his neck, and said angrily: "As far as your value is concerned, you will still care about 2000W, there are good things, and they are still hidden, bring them quickly." ”
Luo Tiancheng actually came over to deliver tea today, and when he just failed, seeing Luo Yiming's frustration, Luo Tiancheng almost couldn't help but directly restore Luo Yiming's body.
But knowing that Luo Yiming's situation is known by the country, if he recovers well in a short time, it will naturally attract the attention of the relevant governments of China, and his little Jiujiu will be discovered, Luo Tiancheng only spent 4 years to spend more than 20 million yuan on Luo Yiming to restore his body, or just return to the level of a normal person, so that the country will retreat.
Luo Tiancheng took out a porcelain jar from his bag and put it on the table: "Dad, let's talk about it first, even if you recover, you can't run to the army anymore, and this tea must not be leaked!" Including grandpa. ”
In his position, Mr. Luo has not yet retired, and he will not let Mr. Luo participate, it stands to reason that with Mr. Luo's age, he should have retired to recuperate, but even Duke Deng is still there, so naturally there will be no shortage of some elderly and powerful generals.
"Well, well, son, for sure, it's still important to have a family, how can it be so leisurely like now, stay in the government every day, and there are groups of businessmen who come to the door to invest, your father and I drink tea in the office every day, and someone comes to them to invest, and my request is not much discounted, how comfortable is it......
You don't know, the people around us thought that those merchants were easy to find now, but they turned out to be ...... If you look at other areas, you can't ask for much money from grandpa and grandma, right? Luo Yiming hugged the jar like a baby, staring at it with "affectionate" eyes, but there seemed to be something pointing in his mouth.
couldn't help but roll his eyes, this is called cheap and good, for Luo Yiming's political achievements, Luo Tiancheng deliberately asked the company secretly controlled to take care of Luo Yiming's place, and now Luo Tiancheng, who has basically completed the layout of the financial empire, as long as he has this intention, he will naturally have a tendency to funds, as long as it is even a little bit, it is enough for Luo Yiming to rise to the top, plus his own contribution to the country, and the old man Luo behind him.
"I'm leaving, your office is too small, I really don't understand how you can be the secretary of a county party committee, other counties have exceeded the standard, and yours are still psychologically depressed according to a small area." Luo Tiancheng sneered, and before Luo Yiming could reply, he "snapped" and closed the door.
"This kid also taught me a lesson." Luo Yiming said with words in his mouth, but the joyful smile on his face betrayed his mood at this time.
It's not that Luo Tiancheng is unwilling to be a super soldier who failed before the network, it's just that Luo Tiancheng knows that even if these tests have failed, they are still under the nose of the state secret department.
Each super soldier has gone through a series of tests before being selected, and his political consciousness and loyalty to the country are definitely the best choice.
Once Luo Tiancheng moves these people, one or two may not have a problem, as soon as there are many of them, the chance of Luo Tiancheng being exposed will be greatly increased, and Luo Tiancheng still understands the reason for picking up sesame seeds and losing watermelons.
Besides, relying on the Zerg inheritance, these were only a supplement to Luo Tiancheng's numbers in the early stage, and the effect was not as great as imagined.
Luo Tiancheng, who came out of the room, the weather outside was already cloudy at this time, as if a strong storm was about to be ushered in, looked up at the sky, and muttered to himself: "It's finally here, hum, I almost forgot that you were looking for someone to deal with me at that time, this time I'm embarrassed, pull your country to accompany you a step." ”
Thinking of the South Korean person who was looking for someone to deal with Luo Tiancheng at the beginning, Luo Tiancheng had a lot of things, and he almost forgot this person behind him, the successor of the four-star group - Li Zaixing!
………………
At this time, everything is ready, and it is time for the United States to launch an attack, and a series of subsequent plans can be launched.
The cause of the incident goes back to around the 80s and 90s, when Thailand's economy was in a period of rapid development, and one of the characteristics of rapid development was the need for large-scale financing, and if the country's savings could not cope with such problems, there were two ways to go: foreign investment or large-scale credit expansion in the country.
Since Thailand itself is not rich in resources, it needs to make a fortune through manufacturing, which inevitably involves the purchase of equipment and raw materials from other countries, so the Thai government has chosen to introduce foreign investment. In addition to the great wave of internationalization at that time, Thailand naturally opened up its capital account and introduced a large amount of foreign investment in the country. The hasty opening of the capital account will inevitably fail to keep up with the supervision, and at the beginning, it still invested foreign capital in the entity, and gradually began to turn to various assets. Subsequently, all kinds of hot money poured into Thailand, pushing up the stock market land prices and real estate prices. Spawn a bubble, and then take profits at a high level and run away.
At the same time, the exchange rate of the Thai baht is mainly pegged to the US dollar, which is a typical need for the stability of the exchange rate and the free flow of capital, and the autonomy of monetary policy is handed over, that is, the consequences of the Thai government's independent adjustment of market interest rates will be very serious. At that time, the Fed entered a cycle of interest rate hikes, and the Fed could not accommodate the stability of Thailand's asset bubble, and the crisis was imminent.
At this time, the international tour capital represented by Soros began to quietly exchange dollars for Thai baht in the market to hoard and prepare ammunition. In addition to the normal general external demand for Thai baht, the remaining part of the Bank of Thailand needs to use the US dollars in its hands to buy this part of the Thai baht to ensure the sufficient exchange of the Thai baht and maintain the international credit status, which will greatly deplete the central bank's foreign exchange reserves. Thailand's foreign exchange reserves at the time were only $30 billion.
In February this year, Soros lent tens of billions of Thai baht to banks for large-scale shorting in the international market.
In the face of the challenge of international capital, the Bank of Thailand can only rush to the battle. The Bank of Thailand first formed a coalition with Singapore and used a huge amount of about $12 billion to absorb the Thai baht. The second step is to follow Mahathir's strategy and tactics in 1994 and use an executive order to strictly prohibit local banks from lending Thai baht to Soros's army; The third step is to raise the interest rate sharply, from about 10% to 1,000 to 1,500%.
So what exactly is shorting? For example, we know that a company has a bad business, but the stock price still has a high valuation, and we want to short it. We borrow shares from others, sell them, and if the price of the stock falls, we can buy it back at the market price to earn the difference. Of course, others will not lend you shares for nothing, you need to charge interest, and the interest is the cost of shorting. Shorting currencies is the same thing, you need to borrow a large amount of Thai baht before you can sell a large amount of Thai baht in one fell swoop.
The central bank can arbitrarily raise interest rates, but everything has a price, and raising interest rates also has a price, especially when Thailand's own assets are highly valued and highly leveraged. At this time in Thailand, there was a huge bubble in the property market and stock market, which immediately brought two negative effects after the central bank raised interest rates.
1. The cost of capital has increased significantly, although it has hit short sellers, but it has also caused a great impact on domestic residents who buy houses and speculate in stocks;
2. In anticipation of a sharp increase in interest rates, short sellers prepared products such as shorting stocks and stock index futures in advance.
The Thai government is faced with a dilemma: whether to raise interest rates to protect the exchange rate and let the asset bubble collapse, or to protect asset prices and let the exchange rate collapse. If interest rates continue to be maintained or even raised again, the highly leveraged stock market and real estate sector will quickly disappear in a short period of time, causing further panic and further capital outflows. And if interest rates return to normal levels, there will be no way to stop short sellers from borrowing en masse.