Vol 5 Chapter 86: The chancellor of finance

Manhattan in the sunset, as if smeared with a layer of golden light, slowly sinking with the red sun, forming Manhattan's unique hanging sun spectacle.
Because Manhattan has a chessboard layout as a whole, the streets are mostly built along the east-west or north-south direction. However, because the east-west streets are not strictly along the east-west direction, they deviate by about 30 degrees. Therefore, there are several opportunities each year. On the east side of the street, I saw the sun slowly falling from the west in a canyon made of reinforced concrete.
The afterglow of the setting sun paves the streets, and people on the east-west streets can see the coming sun. From a distance, it looks like the sun is about to fall on the street, glowing with devastating brilliance, and the beauty is lingering.
34 Wall Street.
Paul D. Jones stood in front of the glass curtain wall of the office with his hands in his pockets, looking at the sea not far away. The Statue of Liberty was standing on the sea with a torch in her hand, and the setting sun shone on her side face, something indescribable. Pleasant beauty.
For some reason, Jones suddenly found that the figure of Liberty was too sexy, even though it was not the first time he was here to see her across the sea.
Bang bang--
There was a knock on the unclosed door of the office, and as Jones turned around, his assistant stepped into the office hurriedly on high heels.
"Rona. You look so beautiful today."
Jones looked at the help and joked with a smile. Obviously, he was in a good mood.
Of course, he also has reasons to be in a good mood.
The British pound to the mark dropped by 5%, which allowed the company to cover up to 20 million dollars in losses in the US dollar. This is a very good start, because if you want to make a lot of money, you must first make a profit. A large sum of money.
nonsense?
NO.
At least, earning a small amount of money means that his judgment is correct.
Rona smiled, and a trace of lines was drawn across her delicate face, but she did not spoil her beauty, but instead licked a mature charm.
"Sir. Calvin let me ask you if it's time to increase your position."
Calvin Ponson is the chief trader of Duyi Fund, mainly responsible for position transactions in the European market.
Paul Jones glanced at the pound-to-mark exchange rate that stayed in the shock range, walked up to Rona, stopped her waist and kissed passionately.
"We still need to wait. At present, we are not sure whether the Bundesbank will back down because of the pressure of the pound. But today's scenery is very lacking. You have to stay here and enjoy the scenery with me."
"..."
Lorna’s light green pupils showed all kinds of amorous feelings. She noticed that although her boss looked calm now, his blood was boiling, stepping on high heels and swaying an inextricably charming figure, Lona grabbed it. The telephone on the desk dialed the extension number of the internal line.
Soon, the call was connected.
"Cavin, the boss still needs to wait...um..."
"..."
At the same time, the investment management department of commodity companies.
Bruce Koffler and Marcus sat together, discussing their next thoughts on the pound.
"At present, the British have four more cards in their hands, using all foreign exchange reserves, raising interest rates, borrowing money from the IMF, and ordering Hong Kong to buy British pounds to strangle our positions at all costs."
"What you said is consistent with what I thought, but after all I am worried about the reaction of the Germans. If the Germans consider the position of the European Central Bank, they may back down again."
"I am also worried about this. Schlesinger doesn't seem to want the Bundesbank to disappear, but others want to see Germany become the central bank of Europe. There are big variables."
"Then let's wait and see, at least our current floating profit can withstand the worst."
"I agree with your suggestion. In the worst case, we will return the current profits to them, but I still have a suggestion to test the Bank of England's reaction. Since the Oriental dares to do so, I believe he must There are certain reasons."
"Oh, what you said makes sense. That Easterner doesn't seem to be a fool, but where does his confidence come from? And, how many employees does he have, God, it's hard to imagine, it can be achieved every second. Thirty deals."
"Who knows! But this is a headache for the British, at least we are still teammates."
"Okay! But I'm really worried that the guy will deal with us backhand. The speed of the transaction is really horrible."
"It's too early to talk about this. If possible, I will talk to him about cooperation. I believe he will not mind becoming an ally with commodity companies."
"That's best."
"..."
Stupid people have their own stupidity, but smart people have similar intelligence in their intelligence.
As the first person in contemporary fund management, Paul Jones chose to wait and see, commodity companies chose to wait and see, Bank of America chose to wait and see, Morgan chose to wait and see...Almost everyone chose to wait and see.
Because no one can be sure whether the Germans will lower interest rates again, it is necessary for them to do so because of the responsibility of the European Central Bank.
But if Germany chooses to lower interest rates, it would be a very unwise choice to continue to short the pound position.
These institutions and people can perceive the risks involved. As one of the world's top speculators, Stanley Druckenmiller can naturally perceive the uncertainty of the exchange of British pounds to the mark.
However, he encountered a little problem.
His boss, partner, partner and mentor, George Soros, was a little unwilling.
Druckenmiller understands this very well. He knows very well that Soros likes the feeling of being under the flash, the feeling of mastering everything, and the feeling of overlooking all living beings.
But now, that kind of honor was taken away by an Oriental.
Understanding does not mean agreeing. As a fund manager, Druckenmiller has always disliked Soros's blatant character. Isn't it bad to make a fortune in silence? Why bother to care about the illusory things.
"George. I don't agree with your suggestion, it's too risky."
"Stanley. I know your concerns, but since the Oriental dared to make such a big fanfare, he must have sufficient reasons. Do you think he is a fool?"
"George, I don't think he is an idiot. But I think he is gambling. You taught me that there is only a thin line between speculation and gambling. Before I get the German's opinion, I think this is gambling. George. , I don’t want to say, but I have to remind you that you were influenced by that Oriental."
"..."
Suddenly, George Soros fell silent. Although he didn't want to admit it, he had to admit that he was indeed influenced by the Oriental.
The reputation and honor that should belong to him was robbed by that bastard. The most hateful thing is that what the wrote seems to be what he should write, a feeling that he doesn't know how to describe it.
But George Soros is a master of a generation after all, and years have allowed him to overcome many shortcomings of human nature. Facing reason and anger, he finally chose reason.
"Stanley, you are correct. We really need to wait before the Germans make a formal statement."
"You are right George. My instinct tells me that the British must be desperate now and are preparing or have thought of various countermeasures. Putting pressure on the Germans must be the first step. I believe we will soon be able to determine the final result."
"..."
Finally convinced George Soros, Stanley Druckenmiller sighed in relief and got up and left. Looking at his tall figure, Soros sighed helplessly.
Although reason made him agree with Stanley's suggestion, he was really unwilling.
"Damn it. What is that guy's backing? Is he gambling? But this shouldn't be!"
The Bank of England is recognized as the most powerful central bank in the world.
But who would have thought that in just fifteen minutes, under the huge sell-off in the market, he would be completely defeated.
This is unimaginable and unimaginable.
With the changes in the market, the world’s attention was immediately drawn to London. I don’t know how many finance ministers and central bank governors who have rested were awakened from their sleep by the phone, or they hurriedly dropped their bowls while eating. Chopsticks, put into work.
Ten thirty in the evening.
Spain, the capital Madrid.
Carlos Solchaga was awakened by a rush of telephone ringing. He sat up with sleepy eyes, a little dissatisfied that someone awakened him at this time, but when he heard the content on the phone, his pajamas suddenly disappeared.
"What are you talking about? The pound plummeted by 5% in 15 minutes?"
"Yes. Your lord. You better think about what we should do. I am worried that this will increase panic in the market."
"..."
How dare Carlos Solchaga hesitate any more, as the Minister of Finance of Spain, he knows very well what it means for the pound to fall by 5% in 15 minutes~EbookFREE.me~ That is the Bank of England, the world for hundreds of years If the most powerful central bank cannot hold the pound sterling, the peseta, which has now depreciated by more than 20%, will only make it worse. The market has no emotions, but the people involved in the market have emotions. Once the market's emotional panic reaches its limit, it will be a nightmare.
Because, under the financial transmission mechanism, large-scale convergent transactions will be triggered, and all bears will look for prey like hyenas.
In 1987, Solchaga had already tasted the horrible market conditions. The U.S. market plummeted, triggering a global crash.
All securities markets have plummeted by more than 20%.
If the Bank of England, the most powerful central bank, cannot withstand short attacks, then Spain may have to despair to meet the end.
At that time, he, the Chancellor of the Exchequer, will be waiting for a decent resignation.
Regardless of the coolness of the night, Carlos Solcha hurriedly dialed the special telephone of the British Chancellor of the Exchequer Norman Lamont.
London, England.
Norman Lamont looked at the Reuters screen, swallowing hard, his face was blue and red, he did not expect that when he said that it was impossible, the impossible became a reality.
That feeling was like being slapped back and forth on the face. Although it didn't hurt, it was really shameful.
The unexpected phone rang, it was a dedicated phone, and Norman Lamont looked uneasy and picked up the phone, a little afraid that it was the reprimand from Major or even the Queen.
"Norman, it's me. Solchaga, I just received the news that the pound was attacked, how is it now."
"It's too scary, it's really scary!"