Chapter 772

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"No...it can't be done, Xiaohao, this...this is the first time, if this goes on, my sister will die in front of you..." Zhao Yuqin lay naked in Zhou Hao's arms, weak even to speak It was as if someone had given anesthesia to his whole body, and he couldn't move half of his fingers.

Zhou Hao gently stroked Zhao Yuqin's pink skin, and there was still an aftertaste on his face. These two days, he didn't see anyone, so he just stayed with Zhao Yuqin alone for two days. They are in this unit where you and I are confused, and they have never even left the door. Fortunately, the property management company of this "Arc de Triomphe" is very thoughtful, and it is basically on the same level as a hotel-style apartment. Just make a phone call, no matter Whether it is fresh fish, meat and egg dishes or ready-made meals, they can deliver them in a very short time.

Zhao Yuqin also thoroughly enjoyed the two-person world with Zhou Hao. The only downside was that Zhou Hao's physique was terrible, and he was able to do the men and women's affairs almost non-stop without any signs of fatigue. On the contrary, Zhao Yuqin, who often He tossed them all until they were all soft, and finally they were exhausted by begging for mercy and surrendering.

Just like now, while her whole body is soft, the crisp and numb feeling in her lower body ripples like ripples, making her shiver. Sometimes her body would complain about why she couldn't be more ugly, then Zhou Hao would not be so interested in her, and she could rest for a while.

But she thought again, if Zhou Hao was really not interested in her, then she would have no interest in life. Thinking of this, she had no choice but to grit her teeth and bear Zhou Hao's impact, and finally had to be defeated in a mess.

Even now, Zhou Hao is still fondly rubbing Zhao Yuqin's armpits, licking her fragrant sweat like fine liquid, and smelling her refreshing fragrance.

"It's really over, Xiaohao, let my sister go." Zhao Yuqin couldn't bear to be loved and couldn't resist, so she could only beg for mercy: "How about...how about I let Su Lin or Xueyun come over, you, just let her go." Pass my sister."

"Heh heh heh heh... Sister, you are wrong." Zhou Hao kissed her on the cheek: "Who would push their husband out? Is there a woman like you?"

Zhao Yuqin said with a mournful face, "But how can anyone be as terrifying as you, who can't even get out of bed."

Zhou Hao's nose "hummed" twice and stopped talking. He still hugged Zhao Yuqin and caressed her pink back, but stopped teasing her. After all, he also knew that he had tormented Zhao Yuqin a lot in the past two days. But it's also because Zhao Yuqin is so beautiful that Zhou Hao can't help but want to have fun and love.

"By the way, Chief Executive Dong and Director Zeng seem to want you to go to the Financial Management Bureau with them tomorrow, ha ha, you, the commander, have to do something." Zhao Yuqin curled up in Zhou Hao's arms and said, "I and You said, you can't refuse tomorrow, but you can't ignore serious things for the sake of your sister. This is a national event, and it's thanks to you

The pair is indifferent. "

Zhou Hao rubbed Zhao Yuqin's forehead: "National affairs are not as important as my sister."

"I hate it, I'm telling you the truth." Zhao Yuqin scoffed coquettishly, but her heart was sweet.

Zhao Yuqin would ignore this kind of sweet talk if someone else said it, but when it came from Zhou Hao's mouth, she would feel as hard as a cardamom girl who fell in love for the first time.

"What are Chief Executive Dong and the others looking for you for? To discuss countermeasures against Soros and others?" Zhao Yuqin asked while drawing circles with her fingers in Zhou Hao's arms.

Zhou Hao said: "Maybe, who knows."

"Soros and the others have been selling Hong Kong dollars for the past few days. Thanks to the fact that they bought so many Hong Kong dollars before, they clearly planned to play Hong Kong." Zhao Yuqin said.

"Who says it's not, but how much they sell these days, the Hong Kong government will take as much. Although it has some influence on the stock market, the exchange rate of the Hong Kong dollar is very stable, and Soros and the others have no way to start." Zhou Hao said: "But I think they must not be so simple, otherwise they would not be the 'predators' and 'tigers' of the financial world."

Zhao Yuqin wondered: "Could it be that they are doing some tricks in the dark to give the Hong Kong government a dark time?"

"It's not impossible." Zhou Hao said: "I suspect that their long-term attack on the door of currency will be fruitless, so they have other ideas."

The next day, Zhou Hao came to the Financial Management Bureau as promised by Chief Executive Dong and Zeng Yingquan, and even Zhao Yuqin was dragged by him.

"Miss Zhao, it's been a long time. Why didn't you tell us when you came to Hong Kong, so that we can show our friendship as a landlord." Seeing Zhao Yuqin and Zhou Hao coming together, Chief Executive Dong quickly went up to greet him with a smile.

When Hong Kong returned to China, Chief Executive Dong, Zeng Yingquan and other senior Hong Kong officials met Zhao Yuqin at the dinner celebrating the return. I still remember how many young talents from Hong Kong surrounded Zhao Yuqin that day, but they still could not get the princess. For the favor of Chief Executive Dong, several nephews of Chief Executive Dong beat their backs and stomped their feet, and even vowed that they would not marry Ms. Zhao.

In the face of Chief Executive Dong and Zeng Yingquan, Zhao Yuqin also greeted them generously and decently, and at the same time greeted Qin Donghai and Bai Zhengnan, the two central bank governors. Of course Qin Bai and Zhao Yuqin knew Zhao Yuqin, and they were considered brother and sister in Beijing.

"Chief Executive Dong, Uncle Quan, is there any change on Soros' side?" Zhou Hao asked straight to the point.

Zeng Yingquan said, "It's because they didn't make any changes that we were surprised."

Qin Donghai nodded, and said deeply: "We all know that among those guys, none of them are kind.

After such a long tug-of-war, they will definitely not give up so easily. You must know that financial hedging is the most taboo thing.

It’s just that the funds are tied up in the same place and cannot be flexibly flowed, especially when we have a strong backing. Soros and the others should not fight us for a long time. . "

"On the other hand, from this financial war, we have also seen that Hong Kong's linked exchange rate system is not as unbreakable as we imagined." Chief Executive Dong said worriedly: "Several experts on our side have conducted research on this. analysis, so we want to ask for your opinion."

Zhou Hao noticed that there were several other people who looked like scholars present, presumably they were the experts that Chief Executive Dong said. And these top experts who knew at a glance that they were rich and well-educated were also looking at Zhou Hao with curious eyes. They had shown a look of surprise when they saw Zhou Hao coming in just now. They did not expect that Chief Executive Dong, Zeng Yingquan and The person Qin Bai and the two central bank governors valued so much was actually a young man in his early twenties.

Perhaps those who engage in learning are more or less arrogant, especially those who have outstanding achievements in a certain field, and they are even more critical when looking at others, whether they are arrogant or stubborn and pedantic, in short, if Without real materials, they will definitely not get their respect.

Zhou Hao knew very well that he should not show timidity in front of these scholars and experts, and had to show them his strength with real materials. Otherwise, this would not only be Zhou Hao's personal honor and disgrace, but also make Zhou Hao, a detached "consultant", no longer have prestige It can be said that it will embarrass the Zhao family and even the two people who support him, the Chairman and the Prime Minister.

After thinking for a while, Zhou Hao said: "Indeed, after this battle, no matter whether we win or lose, the linked exchange rate system linked to the Hong Kong dollar and the U.S. dollar has exposed its own weakness. We all know that Hong Kong's exchange rate The system adopts the linked exchange rate system, which is a form of the currency board system, and the core is that when a country or region wants to issue a certain amount of local currency, the batch of currency must be issued with the support of foreign currency of the same value. Take Hong Kong as an example. The Monetary Authority stipulates that one US dollar is exchanged for 7.8 Hong Kong dollars. Correspondingly, for every 7.8 Hong Kong dollars issued, there must be a US dollar of foreign exchange reserves as support.

When the three banknote-issuing banks in Hong Kong, HSBC, Standard Chartered, and Bank of China, issue currency, they must deliver US dollars to the Monetary Authority in exchange for a certificate of indebtedness at the exchange rate of 1 US dollar to 7.8 Hong Kong dollars as a guarantee for issuing currency. At the same time, the HKMA must also assure the banking system that all Hong Kong dollars in the settlement accounts of the HKMA are freely convertible at the level of 7.8 US dollars per US dollar. "

Both Chief Executive Dong and Zeng Ying nodded, while one of the experts over there held up his glasses and said noncommittally: "Well, this is a well-known matter."

I also heard Zhou Hao say: "The linked exchange rate system has contributed a lot to Hong Kong's currency stability for more than ten years, but this system also has inherent defects. Although the cash in circulation in Hong Kong is 100% backed by US dollar foreign exchange reserves, bank deposits are Not so, the HKMA

After receiving a pledge of US$1, the note-issuing bank is allowed to issue HK$7.80 banknotes. On top of this base currency, banks can create deposits in multiples through credit. In 1997, Hong Kong's cash in circulation plus various deposits totaled more than 1.7 trillion Hong Kong dollars, while its foreign exchange reserves were less than 700 billion Hong Kong dollars when converted into Hong Kong dollars. Obviously, if Hong Kong people lose confidence in the Hong Kong dollar and demand to convert their Hong Kong dollars into U.S. dollars, the linked exchange rate system cannot be maintained.

Moreover, in the face of a real crisis, because of the mechanism designed by the Linked Exchange Rate System, the interbank lending market interest rate will soar, and the Currency Board system will not be able to perform the automatic arbitrage function in a crisis. Although the Hong Kong Monetary Authority stipulates that banks can borrow Hong Kong dollars from it at an exchange rate of 7.8 Hong Kong dollars to one U.S. dollar, this is mainly limited to the three note-issuing banks. It is also difficult for note-issuing banks to borrow Hong Kong dollars from the Monetary Authority through the discount window frequently and on a large scale, so as to avoid being warned by the Monetary Authority. For other non-note-issuing banks, the interbank lending market is almost paralyzed. The entire financial system will be difficult to operate, and the stock market will also face the risk of a sharp drop. "

Finally, Zhou Hao heaved a sigh of relief: "Soros and the others saw this, and they launched a massive attack on Hong Kong."

(end of this chapter)

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