Chapter 911 The Proud Bank of Thailand

Things were as Feng Yu expected, isn’t the Thai government’s foreign exchange reserves insufficient, and a part of it needs to be reserved to deal with other things, so the Thai government consulted with the Nanyang government and asked the Nanyang government to come out. five billion dollars.

Adding the 5 billion U.S. dollars invested by the Thai government before, and another 2 billion U.S. dollars, the total investment is 12 billion U.S. dollars. Suddenly, Nanyang's new force of five billion U.S. dollars was added to absorb the Thai baht, and the exchange rate of the Thai baht began to rise.

From 26.3:1 in the past two days, it has reached 26:1 immediately, and it is still improving.

The funds to absorb Thai baht suddenly increased so much, and Soros and the others had no more Thai baht to sell.

Soros was also a little panicked. How could this happen? Why did Nanyang suddenly join?

Because there are a lot of trade between Nanyang and Thailand, and the relationship between the two countries, at least during this administration, is still very good.

Another important reason is that the establishment of a forward foreign exchange contract by Soros in Nanyang was also discovered by the Nanyang government.

They looked at it, good guy, Soros is planning to clean up Thailand, so he will clean up us. If you do it separately, then we may not be able to handle you. But you did it at the same time, so don't blame us for being rude.

Nanyang has the same idea as Thailand, that is, it hurts Soros all at once. To break Soros’ will, let Soros know that it is not a few years ago now, and it will not be so easy to manipulate the exchange rate of a country’s currency. .

If it fails in Thailand, then Soros' reputation will definitely be seriously affected, so he can no longer lead the crowd to attack a country's currency, especially Nanyang.

They wanted Soros to walk away and be confident about it.

...

The governor of the Central Bank of Thailand faced the reporter with a solemn expression: "We are fighting to defend the Thai baht, and let those speculators lose their money!"

It is self-evident who the speculators are referring to.

The Governor of the Central Bank of Thailand instantly became the patron saint of many Thai people. With the use of 7 billion U.S. dollars in foreign exchange and the help of 5 billion U.S. dollars provided by Nanyang, the price of the Thai baht immediately began to rise.

Correspondingly, the stock market has also begun to recover, and everything seems to be moving in a good direction.

But Feng Yu firmly believed that Thailand must be defeated!

First of all, the Thai government's foreign exchange reserves,

It is still not enough, a total of 20 billion US dollars. This time Nanyang intervened, and Soros was not prepared enough, and there is still a lot of funds that have not been allocated.

Another Feng Yu didn't intervene at this time. If Feng Yu also intervened, then all the foreign exchange reserves of the Thai government must be fully used to stabilize it.

And there is another phenomenon that let Feng Yu know that the Thai government has no other means, and they still have to spend a lot of money to stabilize domestic housing prices.

Seeing that the financial crisis is about to break out, the stock market has begun to fall, but the housing prices are still rising!

To put it bluntly, the Thai government dare not let the real estate collapse. They believe that once the real estate price plummets, it will repeat the tragedy of the island country.

So while trying to find a way to support the stock market, while fighting Soros in the foreign exchange market, they also need to stabilize the domestic real estate market, and finally, they must stabilize those foreign businessmen and prevent them from withdrawing their capital!

If it is one thing, or even two things, Feng Yu believes that the Thai government can handle it. But when these several things happen at the same time, then it is impossible to take care of both.

And Feng Yu judged that compared with the fall of the baht, the Thai government is more worried about the real estate crash, so more funds must be used in real estate.

But right now, the Thai government has really won. The exchange rate of the Thai baht has risen sharply. How long has it been?

At this exchange rate, the funds of the Thai government and the Nanyang government should also be spent. They will be able to stabilize at this exchange rate, and return to 24:1, Feng Yu thinks it is impossible!

...

Soros watched the exchange rate of the Thai baht continue to rise, but he was powerless.

It seemed that this time, he was defeated. If the Thai baht returns to the exchange rate of 25:1, even if he delivers the foreign exchange futures contract, he will lose at least 400 million US dollars. Moreover, the stock market has also begun to pick up, and the stock index has rebounded, and his stock index futures profits are getting lower and lower.

The pincer offensive of the stock market and foreign exchange is his method. If it goes well, both ways can make money. But now, he is a little overwhelmed, because both ways have lost a lot, and the stocks he sold have also lost a lot of money, and the stock index futures can't make up for it!

The Thai government played it very well, causing him a total loss of more than 600 million US dollars! Especially after remembering that Feng Yu had withdrawn and made some profits, Soros was even more annoyed!

The resentment towards Feng Yu in his heart surpassed the resentment towards the Thai government, and the resentment over the governor of the Bank of Thailand who taunted him in front of reporters.

It is normal for the Thai government and the Bank of Thailand to fight back, and he had already expected it when he made the layout.

But Feng Yu's sudden withdrawal was beyond his expectation. If it wasn't for Feng Yu's participation, he would have prepared more funds, and he might have already defeated the Thai government and caused the baht to depreciate wildly.

Unlike now, watching him lose money, he has no strength to fight back!

Soros didn't think about it at all. In fact, he has never trusted Feng Yu, and people have been staring at Feng Yu's capital flow.

There is no basis for trust on both sides, how can we cooperate happily?

"Boss, what should we do? Should we continue borrowing Thai baht and fight for funds with them, or?" Zhuken Miller asked.

The way they originally discussed was to continue to suppress slowly, and then while withdrawing funds, they persuaded Feng Yu to join, while continuing to spread negative news about the Thai baht, so as to keep the panic going.

But now that there is suddenly a new force from Nanyang, they can't hold it anymore. Just the high interest rate on borrowing Thai baht has increased their cost. Even the most convenient short-term loan can no longer be used at all, it is like sending money to the Thai government.

Soros made a difficult decision: "Stop, first throw away the stock index futures stop loss, temporarily withdraw, and when we have the funds in place, we will make a comeback!"

By making such a decision, he admitted that he had temporarily failed, and he also admitted the lost money.

Zhu Ken Miller wanted to persuade him. This admission of failure will have a great impact on the reputation of the fund. But he didn't know how to persuade him, if he didn't admit defeat, if he continued to fight, he would lose even more!

...

The governor of the Bank of Thailand was once again surrounded by reporters today. The exchange rate of the Thai baht has returned to 25.2:1 and is still climbing slowly. It should be no problem to return to 25:1.

This time, the joint attack on Soros's speculative funds with Nanyang has already seen results! Soros was frightened by them and retreated. They won!

"I said, let those speculators lose their money, and now we have done it! People in Thailand, no one can break the baht, no one can break the great Thailand!"

Soros threw the remote control at the TV, and with a snap, the expensive LCD TV emitted a puff of black smoke.

Want to make me lose everything? Well, let's see, who of us will have the last laugh!

... (to be continued.):