Finance, originally invented by the Dutch.

Later, the English perfected its mechanics.

In the end, the United States took the baton of development finance into its own hands.

Relying on powerful financial instruments, Wall Street was born.

The people here control the financial order, and many financial products are dazzling, whether they rise or fall, they are all related to them.

Those years.

They use finance as a tool to manipulate other countries everywhere and extract huge amounts of wealth from them.

And the financial turmoil has proved that even some small countries are just "small retail investors" in the international economic game.

In the face of the bite of the capital giant, like ordinary people, there is no power to parry.

....

13 August 1998.

The Dow Jones index retreated, falling as much as 299 points in a day.

The impact on the Nikkei index also triggered a panic decline, and the Japanese authorities were powerless to return to the sky and had no choice but to let the stock market go down.

The markets in Europe, Africa, the Middle East, and the Americas were all spared, all falling sharply.

The outside world is full of bearishness, and there is no good news.

Hong Kong's financial market is shrouded in dark clouds.

Not only Wall Street, but also many financial institutions in Europe are involved.

Several European and American investment banks and hedge funds attacked the Hong Kong foreign exchange market, the stock market and the Hang Seng Index futures market at the same time, frantically selling Hong Kong dollar and Hang Seng Index futures.

The sell-off was unprecedented.

It is reported that its elite troops are the largest hedge fund under Wall Street speculator George Soros - Quantum Fund.

Under their leadership, in just half a day, international tour capital sold about 40 billion Hong Kong dollars.

In the following two days, there were 35 billion Hong Kong dollars and 27.8 billion Hong Kong dollars in the foreign exchange market respectively.

In the face of such a large-scale sniping, the Hong Kong Monetary Authority changed its previous practice of not intervening in the market, and urgently used its foreign exchange reserves to buy Hong Kong dollars directly into the market.

Moreover, while maintaining the stability of the exchange rate, it has not raised the interest rate of banks as usual to increase the cost of speculation in international travel.

....

Wall Street, New York, Quantum Fund Trading Room.

Everyone stared nervously at the computer screen in front of them.

Da Da ....

The keyboard clicks one after another.

Every minute, hundreds of millions of foreign exchange are traded.

After just a few hours of operation, the Hong Kong dollar sold in the Hong Kong market reached more than 35 billion.

It's just a pity that these orders were caught by the Hong Kong government again.

According to the plan formulated by Soros and others, they first vigorously shorted the Hong Kong dollar in the foreign exchange market, forcing the Hong Kong Monetary Authority to adopt the old routine of raising interest rates.

As long as interest rates are raised, it can play a role in weighing on the stock market.

When the stock market falls, the HSI futures will also fall, and then they can short the HSI futures at a lower price in the futures market, and the foreign exchange market and the stock market will both make a profit.

But this time, the Hong Kong Monetary Authority only silently took the order and did not raise the interest rate.

This made everyone in the Quantum Fund a little regretful.

"George, it seems that the Hong Kong government is already on guard." Fat military advisor Drew Kenmiller said.

"It doesn't matter, our analysts have expected this for a long time, let Jones do the second plan." Soros leaned back in his leather chair and said slowly.

In the face of the large-scale attack of international travel funds, almost everyone in Hong Kong believes that Soros and his friends must crush the Hong Kong dollar exchange rate.

He has done this to the Thai baht, Indonesian rupiah, Korean won, and ringgit before, and this time will be no exception.

Therefore, the Hong Kong government has directly mobilized a large amount of foreign exchange reserves to undertake the selling of international funds in the foreign exchange market and stabilize the linked exchange rate system.

However, in Soros's view, as long as he can make money, who will only bother with the exchange rate?

...

Meanwhile.

At the Xiangjiang Financial Authority, groups of people dressed in dark suits and working in investment banks and securities companies were hurrying up to the fifth floor of the HKMA.

Many were drenched in sweat and still palpitated.

"Director Liang, hold on!"

"Today it is more than 30 billion!" The middle-aged man in the lead said with a happy face that the selling of those floating funds was unprecedentedly strong, and if it wasn't for their early preparations, the linked exchange rate would have collapsed long ago.

"How much foreign exchange reserves do we have?" Liang Zhaomin didn't feel relaxed at all, but asked with a frown.

The Hong Kong government and international tourist capital have been "wrestling hands" for half a month, and the turnover of the Hong Kong foreign exchange market has skyrocketed, and the foreign exchange reserves in their hands are also rapidly decreasing.

"And more than $40 billion." The middle-aged man wiped the sweat from his forehead and replied with some bitterness.

Liang Zhaomin's expression was stunned, he didn't expect the foreign exchange reserves to be depleted so quickly, which greatly exceeded his psychological expectations.

The Hong Kong government took the initiative to intervene in the market this time, but it made a great determination.

The economic policies pursued by Heung Kong are:

"In a market economy, the Hong Kong government should not take action."

If you make a move, you will be slapped in the face, and if you have any credibility, you will be infamy.

The Financial Secretary of Hong Kong, Mr Tsang Kam Kuen, struggled to think about the positive and negative factors of entering the market.

Finally, a decision was made on 2 and 3 August, the document was signed on 4 August, and the intervention began on 5 August for nine consecutive trading days.

It can be said that all of them are under tremendous pressure.

"Now outside, many people are queuing up at the bank to exchange dollars, and if our foreign exchange reserves are depleted at this rate, they will not last long." The middle-aged man reminded.

There is too much bad news in the market, and all kinds of rumors are flying all over the sky, but almost all of them agree that the Hong Kong dollar will depreciate and the RMB will depreciate.

Even many people, as soon as they heard that it was Soros, lost confidence in the linked exchange rate system.

They subconsciously believe that the Hong Kong government will definitely not be able to get people, and it is the safest to exchange the money for dollars first.

Lest like Thailand and South Korea, the national currency will depreciate sharply, and the money will become waste paper, thousands of yuan, and you can't even buy a few catties of pork.

"You guys go back first, I'll figure it out." Liang Zhaomin said with a sigh.

"Director..."

The middle-aged man opened his mouth, wanted to speak and stopped, but finally did not continue.

Because according to the current situation, they can hold out for another ten days and half a month at most, which is already the limit......

After everyone left, Liang Zhaomin stood in front of the window, looking at the reddened bauhinia outside.

I struggled inwardly.

Just as the sun was about to fade, he finally made up his mind, turned around and picked up the phone on his desk, and dialed a number.

They discussed for a long time, and the person on the other end of the phone finally said, "I'll try, but I can't guarantee it!" ”

It's past eight o'clock in the evening.

A red phone call was made from Xiangjiang Central, No. 1 Tim Wah Road, to the capital of the mainland.

It had only been picked up twice.

"Hey."

……