The rebirth of the Hong Kong Island chaebol, starting with a short-selling Eagle Sauce

The next day, sure enough, he saw long queues of people lining up at the entrance of various banks to withdraw money.

He also heard the people chattering and making noise.

Someone said:

"The interest rate on deposits is so high. It's weird to think about it. How can the country be so kind and let us take such a huge advantage? There is no free dinner in the world...

If the bank fails, according to foreigners, we are all unguaranteed deposit users and we will not be able to get out a penny. "

Some people retorted with red necks:

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

Despite saying this, he did not leave the queue.

People tacitly began to rush to withdraw their money from the bank.

The financial officer realized that the problem was huge. Instead of strengthening people's confidence in the financial market, high interest rates unexpectedly deepened people's distrust of the banking system.

The run is not the worst thing. The biggest trouble is that people cannot leave all their money at home to grow ashes.

They have concerns about the country's economy and may exchange their money for dollars on the black market.

What is most unacceptable to the officials is that the first people to be unable to hold on are their own people.

Banks began to secretly violate the ban and began to convert Thai baht into U.S. dollars.

For a time, the stock and real estate markets, as well as the exchange rate, fell sharply.

Such a scene confirmed the rumors that were widely circulated among the people and caused 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 end at this time, they would not even be able to drink the soup.

International hot money swarmed in and beat up the lost dog.

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

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

By the end of June, Siam’s foreign exchange reserves had dropped by US$6 billion, leaving only US$200 billion in foreign exchange reserves.

The financial officer who insisted on not devaluing the baht resigned.

Facing the imminent maturity of short-term debt, it has lost the ability to continue to intervene in the foreign exchange market.

July 7 is a day worthy of being recorded in history.

Siam officials had to announce that they would abandon the fixed exchange rate policy that had been tied to the U.S. dollar for 14 years.

Implement a managed floating exchange rate policy.

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

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

This tough battle is unexpectedly difficult to fight. On the one hand, Wang Lei triggered this crisis a year in advance. On the other hand, the countries in East Asia have learned some lessons from Sakura Island and Mexico.

Fortunately, bubbles in various countries are not as big as usual. For example, house prices in Siam increased fourfold from 1993 to 1996, and the stock market continued to soar.

With such a big bubble, even though Siam was fully prepared to deal with it and many countries in East Asia intervened, it ultimately prevented Cayman Capital from short selling.

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

They went absolutely crazy.

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

These Eastern Asian countries contributed a lot in the war against Cayman capital, and now they have become the primary targets of liquidation.

At the same time, Wang Zhengyi, who had been keeping a low profile for several months, was the first to be interviewed by the media.

Faced with the reporter's criticism, he once again publicly warned:

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

"You may not think how serious the situation is when it comes to exchange rates. Let me give you a number. There are about 100 financial industries in Siam. Now half of them have gone bankrupt. Their total deposits account for more than 2/3 of the country's total deposits!"

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

"This is not the most serious thing. The most serious thing is that tens of thousands of companies have closed down, and the number of unemployed people is estimated to reach 300 million!"

At this time, the population of each country in Siam was only 6100 million. Such a high new unemployment rate made all reporters aware of 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 investments. The more critical the moment, the more firm we must be in our investment strategies. Acting rashly will cause greater losses."

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

"Boss, this is a call from the Hong Kong government."

Wang Zhengyi knew that this was all he could say today.

The governor complained to him, hoping that Wang Zhengyi would not continue to badmouth the real estate and stock markets.

Don't let the bears take advantage.

Wang Zhengyi's speech did not appear in major news, but many high-ranking people were ready to make a 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 arrived, the stock and housing markets fell slightly.

The Governor made many speeches in order to increase people's confidence.

In order to stabilize housing prices, those real estate developers are still attacking Wang Zhengyi and Wang Real Estate.

The most irritable among them are Dongdu Company, a major takeover company, and Guy's real estate company.

They have invested huge amounts of money in the Lantau City project. In order to increase housing prices and gain more profits, they have been hoarding the houses but not selling them, and have been reluctant to hand over the houses.

Nowadays, the trend of Dongzhou's financial crisis has made them realize that they have become out-and-out takeovers.

Their huge investment in Hong Kong City is likely to be lost!

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

Unless the price is significantly reduced and sold!

The short sellers as far away as Malaysia are holding a celebration party.

"Boss, where is our next target?"

"Han Country, Big Goose, or Port City?"

Representatives of many short sellers looked towards Robert.

"My suggestion is Han Country."

"What about Da'e and Gangcheng?"

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

"I advise you not to attack the currencies of these two regions."

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

Everyone sneered at his words, feeling that Cayman Capital wanted to surreptitiously go it alone.

In this regard, Robert seriously emphasized again:

"Neither of these two companies are fuel-efficient. Cayman Capital has no interest in them. If you don't listen, I won't force you. You can do whatever you want."

Seeing Robert's serious look, Lao Suo couldn't help but be excited. Okay, wouldn't his chance to rise to the top of the Quantum Fund come?

At this point, the bears have divided into two camps.