Chapter Nine Hundred and Ninety Second How Could This Be

"Father, Feng said that we have to wait and let Soros and the others sink deeper, so that we will be more beneficial." Kirilenko said.

"Are you sure? Do you know that our country's foreign debt liabilities have reached 130 billion U.S. dollars, while our foreign exchange reserves are only 13 billion U.S. dollars. Our debt assets are worth less than 30 billion U.S. dollars Soros and the others attacked our financial industry, and we have no way to resist!" Seshenko said.

Although Seshenko is a soldier, in Russia, soldiers also have a great say in politics. The last time I helped Kirilenko deliver a message, didn't I get the praise from above.

"That's why we can only adopt Feng's method. We have too many short-term bonds and too much foreign borrowing, which may drag down our economy at any time. The demand for oil, natural gas, and non-ferrous metals has decreased, and prices have continued to decline. We will definitely still be unable to make ends meet this year!" Kirilenko said, "So if we adopt Feng's method, we will be able to use the money from international hot money to fill our holes, and it will also prevent us from having hyperinflation again! "

Seshenko looked at Kirilenko, then at his eldest son: "What do you think?"

"Father, I think what my brother said makes sense, and in terms of business, my brother is much better than me. My brother is also a Russian, and he will not, as the outside world says, harm the public and private interests, and cheat our own people's money! "

What Seshenko was most satisfied with was not that his eldest son had a high level of military accomplishment, and that under his care, he went smoothly. It's not that the second son is very good at making money, and even became the richest man in Russia, so that their family no longer needs to worry about money and don't have to go astray. It's that the two sons know what they want from each other, and the relationship between the two brothers is very good.

Ever since it was revealed that Kirilenko was the richest man in Russia, there was a voice that said that Kirilenko earned such a huge family fortune by relying on Seshenko at the expense of public and private interests.

Of course, after investigation above, this is not the case at all. Most of Kirilenko's money was earned from abroad, and he also made a lot of contributions to domestic construction, such as building electronics factories, automobile factories, etc., and Kirilenko's mining company , is the only mining company that hasn't had an accident, although it hasn't mined much.

This also proves that Kirilenko is not the same as other wealthy Russians who embezzled the country's minerals and then exploited them frantically for profit.

The leaders at the top are clear, but the people below don't see it that way. Fortunately, Kirilenko has also learned from Feng Yu in the past two years, and has donated a lot of money in Russia, so those remarks are just talking in private, and there is no big trouble.

"Since both of you brothers said so, then I will report to the higher-ups so that the higher-ups can be more stable."

this way,

The above has also been verified by experts in financial economy, and it is indeed feasible. It will not only prevent money from being swept away by international hot money, but also avoid the outbreak of hyperinflation in the country. Last year, Russia's economy finally improved, and this year it will definitely not be able to withstand any further troubles!

Russia's unemployment rate has increased a lot this year, and its per capita GDP has declined. Many international investors are preparing to liquidate and sell off Russian assets, including some minerals.

Kirilenko also made a move at this time, signing contracts with several American companies, planning to buy the oil fields and mines held by those companies, but he asked for payment in rubles. His reason was that he did not have US dollars.

And the payment time, at the end of August, if it is postponed, a late fee of 1% will be paid for every week of extension, and a late fee of 10% will be paid for every month of extension.

Kirilenko happily signed the agreement, because he knew that perhaps at the end of August, the ruble would depreciate a lot, and she would never lose money.

And those American companies all think that Russia can be like other countries in Southeast Asia, and at least they can stay with Soros for a few months. After all, this is Russia, a big country.

Some of the quick responders had withdrawn their capital in the second half of last year, but after Russia rescued the market, they thought it was all right, and some people came back to take the opportunity to buy the bottom.

No, Russia's stock market is rising now, and the ruble's exchange rate has also risen.

Through the issuance of short-term government bonds, Russia's economy has indeed shown signs of improvement, but there are too many short-term government bonds issued, exceeding 70 billion U.S. dollars!

The national debt and foreign debt combined exceed 200 billion U.S. dollars. After paying the interest on these debts, only 40% of Russia's total income this year will be left! This is just interest, not to mention that Russia has no way to repay the principal.

So the yield on Russian government bonds began to soar, reaching 80%! It also means that the price of Russian government bonds has plummeted, market investors have a low view of Russia's national credit, and panic has emerged in the market.

At this time, Soros and their funds entered the market with a posture of buying bottoms, which indeed stabilized the Russian stock market and the ruble exchange rate, and even made both of them rise.

Some foreign capital who fled Russia were also driven back, ready to make money by buying bottom. Russia's economy seems to be transforming positively.

Soros invested tens of billions of dollars in assets, some of which were his own and some of which were invested by others in the Quantum Fund. Part of the funds is used to buy stocks and part to buy futures. He believes that this time, he will definitely make a lot of money.

But at this time, Russia issued a series of measures, which no one thought of!

Sovereign debt default!

The payment of due foreign debts was postponed for 90 days, and all short-term national debts were extended to three-year national debts.

This is a measure to reduce Russia's international reputation, but it has reduced Russia's domestic contradictions very well. And transfer these contradictions to those major creditor countries, such as Germany.

Commercial banks in those countries will have a lot of bad debts, but Russia doesn't care about it.

At the same time, Russia also announced a measure, that is, the exchange rate of the ruble against the US dollar will be reduced by 50%! Adjusted from 1:6.2 to 1:9.5!

In other words, the ruble will depreciate by 50% on its own, a measure that no one has thought of.

Other countries are trying to find ways to stabilize the exchange rate so that it does not fall, but Russia has adjusted the exchange rate on its own initiative, and it has adjusted by 50% all of a sudden!

Something happened, and it didn't even give them a chance to react.

Those who bought the ruble, optimistic that the ruble would rebound, all cried at this time.

As long as they use more than twice the leverage, they will be liquidated, and all those contracts will become a piece of waste paper!

Soros walked back and forth in the office, constantly thinking in his mind: How could this happen? how so!