Vol 5 Chapter 113: Wall Street in the pit

The other end of the Atlantic Ocean. The sun rises from the sea and shines over Manhattan, bringing the best start to the new day. The air is clear and sunny. With the sea breeze blowing, the breeze with a hint of moisture makes people feel particularly comfortable.
　　
　　 George Soros and Stanley Drucken Miller walked into the Quantum Fund back and forth, and when they saw a fax on the table, they smiled at each other knowingly.
　　
It's all news of the Bank of England raising interest rates. In just one day, the UK interest rate has increased from 10% to 17%. It is like a dying struggling person who is about to die. Obviously, this is the end of the matter. Signal-it's the last time to desperately sell the pound. Thinking of the huge profits that can be gained by dumping the pound at this time, the two of them can't help but get excited despite the many storms they have already experienced.
　　
　　 George Soros took out a pack of cigarettes and a box of cigars from the drawer, and gestured to his successor.
　　
　　 "George. Didn't you quit smoking?"
　　
　　 "Should we not celebrate this time?"
　　
　　 "Haha...very happy to accompany you."
　　
　　 "Haha..."
　　
　　 The two chatted happily. George Soros smoked a cigarette that he hadn't smoked for a long time. Stanley Drucken Miller also picked up a cigar and lit it a little strangely.
　　
The taste of nicotine is not the same as the taste of cigar eggplant leaf, but for both of them, the taste is the same wonderful. It is conceivable that as long as more pounds are thrown at this time, it will mean a lot of rich Profit awaits them.
　　
　　 "Clark, can you come to my office."
　　
　　 Smoking a cigarette, Drucken Miller picked up the phone and contacted Tom Clark, the head of marketing department, the former central bank governor from the Bank of Brazil, who is now in charge of a lot of business at Quantum Fund.
　　
　　 bang bang
　　
　　 Not long after, the office door was knocked, and as Drucken Maitreya greeted him, Tom Clark opened the office door.
　　
　　 He doesn't look good in spirit, his hair is disheveled, his eyes are tired, and he seems to have just woken up from a station hotel.
　　
　　 However, Drucken Miller and Soros didn't realize anything. Tom Clark often fooled around in nightclubs. He worked all night at such an old age and his condition would naturally not be very good.
　　
　　 "Clark, would you like a cigarette?"
　　
　　 "Boss, I suggest you look at the market first."
　　
　　 "Water?"
　　
　　 "......"
　　
　　 Realizing something, George Soros and Stanley Drucken Millerzich turned on the computer screen that was turned off at night.
　　
　　 The dark screen flickered a few times, and a familiar interface appeared on the monitor, but the images displayed in the interface made the expressions on the two people's faces very exciting.
　　
　　 Pound Sterling: Mark, 2.5835, a decrease of 29%
　　
　　 British pound: US dollar, 1.7895, a decrease of 27.5 percent.
　　
　　 Staring at the pound price on the computer, Soros and Drucken Maitreya were speechless for a long time. After a long time, they looked at each other, like two stunned owls. In their expectations, the pound fell by as much as 15%, but now, this decline has completely exceeded their expectations.
　　
　　 The cumulative decline, calculated from 2.976, has been as high as 17%.
　　
How could this be?
　　
　　George Soroston was very frustrated.
　　
　　 Go short and the market will fall. In theory, it will definitely make money.
　　
　　 But this is only for the futures market, where the volume of the fund is placed, and it can only establish more position scale from the spot foreign exchange market. This means that the borrowed cash must be bought by a buyer to be able to buy it back in the future to make a profit.
　　
　　 But now, the Quantum Fund has only established a $10 billion position yesterday and has not had time to sell it all.
　　
　　 After all, the three have been in the industry for many years and have rich experience. Realizing the seriousness of the problem, they did not blame anything but immediately discussed how to solve it.
　　
　　 "I expect that the Bank of England will soon announce that it will give up its resistance. Before that, we must sell all the pounds in our hands."
　　
　　 "But we may have difficulty finding buyers now. Such a big drop means that the Bank of England’s foreign exchange reserves have been exhausted."
　　
　　 "......"
　　
　　 The conversation between Drucken Miller and Soros made Tom Clark feel confused, and he had to interrupt.
　　
　　 "We can sell pounds at a lower price."
　　
　　 "......"
　　
　　 George Soros and Stanley Drucken Miller looked at each other, and they couldn't tell Clark about something.
　　
　　 But now, there is no better way except this way.
　　
　　 "Maybe, I can only do that."
　　
After the three people discussed, Robert John, who was still in his dream, received a paging from Stanley Drucken Maitreya. He got up from the bed and quietly returned the call, hoping to prevent his wife Mary from hearing this conversation.
　　
　　 Because Mary Swift is an executive of the Federal Reserve Bank of New York, responsible for the currency market.
　　
　　 Very strange couple combination?
　　
　　 is not strange at all.
　　
　　 Buffett is hailed as the fifth-generation stock god. It is circulated around the world how he built a financial empire from a little boy, but few people know that there is a US Congressman's father behind him.
　　
　　 Just as someone said later, American bureaucrats never take bribes and corruption.
　　
　　 But those who say these things never say that if there is a place like Wall Street, the brains will embezzle that little money.
　　
　　 "Stanley. We may underestimate the existence of that oriental man. The pound has fallen to this point. I have a feeling that this must be inseparable from him."
　　
　　 "Robert. Now is not the time to discuss this issue. I think we must sell the pound as soon as possible. Waiting until the Bank of England gives up resistance will be our disaster."
　　
　　 "Is there any other way?"
　　
"What do you think?"
　　
　　 "Damn, we could have made more money."
　　
　　 "I understand your mood, but it is already the case."
　　
"Ok."
　　
　　 "......"
　　
　　 Not long after Robert John hung up, Louis Bacon also called Druckenmiller. They talked about how things would end, and Bacon said that he was still trying to sell pounds.
　　
　　 "Really?" Druckenmiller blurted out.
　　
　　 Obviously, all major investment banks on Wall Street are aware of the seriousness of the problem. If the British government announces its withdrawal from the European exchange rate mechanism, the pound will be very short of buyers. Judging from the results, this is in the interests of the United States. The departure of the British from the European Community means that the threat of ECU to the US dollar will be greatly weakened.
　　
Good birds choose wood and live there. The nature of capital is to chase profits. It is conceivable that with the sharp depreciation of the British pound, European capital will leave the European continent to find new space for appreciation and preservation. The US market is undoubtedly a very good one. select.
　　
　　 But this is very inconsistent with the interests of capital. Looking at the market but failing to achieve the expected return, there is nothing worse than this.
　　
　　 Drucken Miller told Bacon to wait~EbookFREE.me~ A few seconds later, Soros joined the conversation.
　　
　　 "Where did you find the buyer?" Soros asked desperately.
　　
　　 The position of 10 billion US dollars is the effect of the five times leverage of the Quantum Fund. If the pound cannot be sold as soon as possible and the pound held by it will depreciate, the interest alone will be enough for the current Quantum Fund to drink.
　　
　　 Especially thinking about the money borrowed from Xiyangyang Finance Company, Big Big Wolf Finance Company and Slow Goat Finance Company, Soros felt like being overshadowed.
　　
　　 To be precise, it was like a main force eyeing the money in his hand.
　　
　　 Soros hasn't felt this way for many years. At that time, he was still in London and was an ordinary retail speculator. He would feel this way when he made losses again and again.
　　
　　 But since he left London and came to the United States, he has never felt this way again.
　　
　　 But now, the feeling of being stared at is here again.
　　
　　 "The buyers we found in Hong Kong. But I'm not sure if they will continue to buy pounds."
　　
　　 Hong Kong?
　　
　　 George Soros was taken aback, but he understood the relationship between Britain and Hong Kong instantly.
　　
　　 An unstoppable thought came out of my heart. The Hong Kong government will inevitably consume a huge amount of dollars to buy so many pounds. Doesn't that mean that you can make a lot of money from the Hong Kong market?