Rebirth of Hong Kong's tycoons, shorting Eagle Sauce

The next day, as expected, he saw long queues of people waiting to withdraw money at the doors of various banks.

He also heard people chattering non-stop.

Someone said:

"The deposit interest rate is so high, think about it, there must be something fishy, ​​how can the country be so kind to let us take such a big advantage, there is no free lunch in the world...

If the bank goes bankrupt, according to foreigners, we are all unsecured deposit users, we can't get a penny out."

Someone else retorted with a red neck:

"We must believe in the country, our economic development is very stable, and the difficulties we see are only temporary."

Although he said so, he did not leave the queue.

People tacitly began to rush to withdraw the money in the bank.

The financial officer realized that the problem was serious. The high interest rate did not strengthen people's confidence in the financial market, but unexpectedly deepened people's distrust of the banking system.

Bank runs are not the worst. The biggest trouble is that people can't keep all their money at home to grow dust and insects.

They have doubts about the national economy and may exchange their money for US dollars on the black market.

What the authorities could not accept the most was that the first to give up were actually their own people.

Banks began to secretly violate the ban and began to exchange Thai baht for US dollars.

For a time, the stock market, the housing market, and the exchange rate all fell sharply.

Such a scene confirmed the rumors that were widely spread among the people, causing strong panic in the market.

The original exchange rate of 20:1 fell to 35:1 on the black market.

At this time, Lao Suo and Tiger Fund could no longer sit still. If they did not get out of the market at this time, they would not even get a share of the soup.

International hot money rushed in and beat the dog when it was down.

They established short positions in Thai baht currency futures through foreign banks operating offshore businesses and began to short Thai baht in the currency futures market.

The short sellers with huge funds in the foreign exchange market launched a decisive battle with the Siamese officials.

By the end of June, Siam's foreign exchange reserves had fallen by US$20 billion, leaving only US$2.8 billion in foreign exchange reserves.

The finance official who insisted on not devaluing the Thai baht resigned.

Faced with the upcoming maturity of short-term debts, it has lost the ability to continue to intervene in the foreign exchange market.

July 2 is a day that will go down in history.

Siamese officials had to announce that they would abandon the fixed exchange rate policy that had been pegged to the US dollar for 14 years.

Implement a managed floating exchange rate policy.

On the day the decision was announced, the Thai baht plummeted by 30%, reaching a prehistoric low of 40:1!

Since Cayman Capital announced its short selling, the Thai baht exchange rate has been cut in half!

This battle was unexpectedly difficult to fight. On the one hand, Wang Lei detonated the crisis a year in advance, and on the other hand, the countries in Dongzhou learned some lessons from Sakura Island and Mexico.

Fortunately, the bubbles in various countries are not ordinary. Take Siam’s housing prices, which soared four times from 1993 to 1996, and the stock market has been rising all the way.

With such a big bubble, even if Siam had made sufficient preparations and many East Asian countries intervened, they could not stop Cayman Capital from shorting.

At this point, the short sellers realized that the economies of East Asian countries were full of huge bubbles.

They were completely crazy.

Under the influence of the sharp depreciation of the Thai baht, the Philippine peso, the Indonesian rupiah, and the Malaysian ringgit have successively become the targets of international speculators.

These East Asian countries have made great efforts in the war to resist Cayman Capital, and now they have become the primary targets of liquidation.

At the same time, Wang Zhengyi, who had been low-key for several months, was the first to accept interviews from the media.

Facing the reporters' cameras, he once again publicly warned:

"Siamese countries are experiencing an unprecedented financial crisis. During this period, the Thai baht exchange rate has fallen by more than 40%!"

"You may not think the situation is serious when talking about the exchange rate. Let me tell you a number. There are about 100 financial industries in Siam, and half of them have closed down. Their total deposits account for more than 2/3 of the total deposits in the country!"

The reporters couldn't help but take a breath. Mr. Wang's data source must be more reliable than theirs. They also realized that a big problem was going to happen.

"This is not the worst. The worst is that there are tens of thousands of bankrupt companies, and the number of unemployed people is estimated to reach 3 million!"

At this time, the population of Siamese countries was only 61 million. Such a high new unemployment rate made all reporters realize the seriousness of the problem.

Wang Zhengyi once again stood up to warn, giving reporters a new understanding of this big chaebol.

"Mr. Wang, do you think Cayman Capital will attack Hong Kong City?"

"I can't be sure about this, but we must be cautious in our investment. The more critical the moment, the more we must be firm in our investment strategy and not act rashly.Instead, it will cause greater losses. "

Wang Zhengyi wanted to take this opportunity to say something, but was stopped by his assistant.

"Boss, the Hong Kong government called."

Wang Zhengyi knew that he could only say this today.

The governor complained to him, hoping that Wang Zhengyi would not continue to talk down the housing market and the stock market.

Don't let the short sellers take advantage of the opportunity.

Wang Zhengyi's speech did not appear in the major news, but many upper-class people were ready to move.

These people finally realized that the financial crisis was coming.

Their first thought was to transfer funds and start running away.

Before the short sellers came, the stock market and the housing market had a small decline.

In order to increase the confidence of the people, the governor made many speeches.

And those real estate developers continued to attack Wang Zhengyi and Wang's Real Estate in order to stabilize housing prices.

The most irritable among them is The big buyer Dongdu Company and Guy's real estate company.

They have invested huge amounts of money in the Lantau City project. In order to drive up housing prices and make more profits, they have been hoarding and not selling, and have been reluctant to deliver the houses.

The trend of the current financial crisis in Dongzhou has made them realize that they have become an absolute buyer.

Their huge investment in Gangcheng is likely to be lost!

But it is a bit late now. Everyone knows that the housing prices in Gangcheng will be affected to some extent no matter what, and there is no big capital willing to take over at this time.

Unless the price is drastically reduced and sold off!

And the short sellers in Malaysia are holding a celebration party.

"Boss, where is our next target?"

"Hanguo, Da'e, or Gangcheng?"

Many representatives of the short sellers looked at Robert.

"I suggest Hanguo."

"What about Da'e and Gangcheng?"

Robert, who received Wang Lei's warning, said with a straight face:

"I suggest that you do not attack the currencies of these two regions. "

The short sellers were puzzled, because the economies of these two companies were very prosperous, and they were two pieces of fat meat. How could such a greedy Robert say such a thing?

Everyone sneered at his words, thinking that Cayman Capital wanted to eat alone secretly.

In response, Robert once again emphasized seriously:

"These two companies are not easy to deal with. Cayman Capital has no interest in this. If you don't listen to my advice, I won't force you. You can do whatever you want."

Seeing Robert's serious look, Lao Suo couldn't stop being excited. Great, isn't his chance for Quantum Fund to take the lead here?

At this point, the short sellers were divided into two camps.