Vol 5 Chapter 90: Was the prize pool already empty?

United States, Wall Street.
Due to the time difference, the sun here is still hanging from the horizon, and the western slanting sunlight emits a soft light, making the whole city seem to be covered with a layer of gold.
Bathed in the bright and soft light, Stanley Druckenmiller clenched his fists excitedly at the news of Frankfurt's return. The current exchange rate system cannot be stabilized only through partial currency depreciation. A broader currency adjustment is better than a separate adjustment of the lira and biseta.
As for not being ‘approved’, it’s simply a joke.
What's more interesting is that Schlesinger actually appeared in the hotel with Shen Jiannan from the East and seemed to have a meal together.
There is no clearer signal. Obviously, Schlesinger is very willing to see the pound squeezed out of the exchange rate mechanism, and the German Central Bank does not intend to further cut interest rates for indulging weak neighbors.
This is really German.
The technical chart of pound exchange for the mark, a big negative line directly swallowed up the two-month increase, and shattered the confidence gathered by the bulls. Fundamentally, the current economy in the UK is in a period of silence. Real estate prices and securities prices have been As the unemployment rate is falling, the unemployment rate is also rising one after another, and there is no hope of recovery in the short term.
Moreover, the privatization reform has also made the British manufacturing industry half-abandoned and become more dependent on imports.
Logically, different trend logic can be found for the rise and fall of any kind of commodity.
Just like Japan in the past.
The central bank cut interest rates but the local currency is strengthening, while the trade surplus is depreciating.
Why is the central bank governor's strong speech that the currency is depreciating, and the economic data is so bad that the currency is still appreciating?
Obviously, a single factor is not so reliable, even if it has an impact, it may not be effective immediately, but what if many factors in the same direction are superimposed at the same time?
After much deliberation, Druckenmiller discovered that he could not find any reason to be long for the pound. All the information and details point to the same direction, that is, to be short for the pound.
There has never been a market like the British pound.
Never.
The technical side, that is, the capital side, does not support the rise of the pound; the British economy does not support the rise of the pound. On the contrary, what the UK needs today is lower interest rates to stimulate inflation, which will have a negative effect on the pound price; and if the pound When faced with a crisis and needed more funds to maintain the pound price, they couldn't find any allies. Italy is dead and Spain is dead. As for France, it is absolutely impossible to help Britain with the relationship between Britain and France.
Now, the Germans almost publicly stated that the pound needs to depreciate...
Is there a reason not to short the pound?
Absolutely not.
There is no reason not to short the pound, which means that this is an unsuspecting victory. Druckenmiller didn't hesitate any more, and walked towards Soros' office.
In the office, George Sorosto frowned at his chin. Before that, he was also watching the news from Frankfurt.
So he was in a bad mood. Schlesinger was obviously happy to see the British pound being forced to withdraw from the European exchange rate mechanism. Otherwise, he would not say that in an interview with the media, let alone be honest with the Oriental. eat.
coincidence?
Responsibility for entertainment?
There is no coincidence in this world, even if it is really a duty to entertain, two people will never have a dinner together at this time, and they happen to be discovered by the media.
But Schlesinger had dinner with the Oriental, which meant that the Oriental talent was Schlesinger's more optimistic short capital, not George Soros.
Damn it!
Where did this guy come from?
Bang bang--
The knock on the door suddenly sounded, and George Soros' frowning brows immediately loosened. As the soul of the Quantum Fund, he cannot be noticed by his subordinates of his impetuosity and unwillingness. That would make people less fearful of him. .
After sorting out his emotions, and making sure that no clues would be revealed in his face and eyes, Soros faintly responded.
It was Stanley Druckenmiller, with a bit of excitement and excitement written on his face.
"George. Have you seen the news of Germany's return? I think it's time to gradually increase the position."
Since August, Druckenmiller has placed a $1.5 billion bet on the British pound, and after talking with Robert John, he increased it to a $3 billion position.
However, there is still a big gap between this and the total position size discussed by the two. You must know that the UK can use at least 40 billion US dollars of foreign exchange reserves. Such a large bonus pool, what are you waiting for without being emptied?
Soros looked confused when he listened, and he objected: "It doesn't make sense."
"What do you mean?"
"From the current news, there are almost no disadvantages. I can't even find any reason to go long in the pound. Then why just gradually build a position? Why not directly increase to 15 billion US dollars?"
Stanley Druckenmiller was taken aback.
At present, the quantum fund's position in the market is 3 billion US dollars. If it is directly increased to 15 billion US dollars, it will need to increase 12 billion US dollars.
This is a terrifying number.
Involuntarily, Druckenmiller's admiration for Soros has increased a lot. Although he is sure that he can't find any reason not to short the pound, he still dare not play so much. Soros is different. As long as he feels that this is the moment to let go, he will let go. When he is sure he is right, there is no such thing as betting too much.
This kind of strong belief and courage, he is really far behind~EbookFREE.me~ Unfortunately, Druckenmiller doesn’t know, the reason for this is that Soros has been affected by something that cannot be said. The excitement of an oriental face makes him always feel like there is a thorn in his heart.
After making the final decision, Druckenmiller and Soros began to sell pounds to anyone willing to buy from them.
However, there is a complete process for the short selling mechanism.
Borrow, sell, and return.
Only when all these three conditions are met, short selling can be considered a successful completion.
Considering that the Bank of England is off work at this time, this is a very good node. It can take advantage of this opportunity that the Bank of England cannot intervene in the market and cause a severe impact on the pound.
After the news of the Quantum Fund’s crazy sale spreads, banks that have obtained a large number of Quantum Fund sell orders will remind their currency traders, which will immediately trigger a knock-on effect.
None of the investment bank guys are idiots, and they are bound to follow the tentative sell-off. As their voices spread and spread throughout the world, everyone will know that the collapse has begun.
But where to borrow money has become the first question at the moment.
Fortunately, Soros has never fought unsure battles. During the period between London and Georgia, he has established many London financial companies.
There is no institution with more money than these guys.
Although Soros is not ashamed of the guys who approached the Ponzi scheme to take deposits, but there is no doubt that these guys are very rich.
As Drucken Miller left to go to the trading department to contact the banking institutions on Wall Street, Soros picked up the postcard package he usually kept and turned it over.
Big Big Wolf Finance Company, Bald Head Financial Company, Xiongda Investment Company...