Chapter 1625: Hunting action-the same style

After thinking about it, Soros decided to call Eric first, and maybe it's better to say hello to some things.
After all, judging from this young master’s consistent behavior style, he is not like a master who is willing to suffer-well, this conclusion has not been effectively proved, because so far, it seems that I have not heard of anyone who can This young master really suffered.
The call was quickly connected, and Eric's familiar voice came from the receiver, with some cynicism and some ridicule in his tone, but it was also more stable.
"George, I have been waiting for your call, and I was thinking, my friend, will he politely ask for my opinion? Or will he politely invite me to a feast? Or, just pretend to forget me The existence of this old friend, to steal joy alone?"
Soros twitched the corner of his mouth involuntarily-knowing such a big matter, this young master would never be able to stay out of it.
"Eric, I want to invite you to join this feast." Soros replied without hesitation. "Our cooperation has been very tacit, except for the "Black Monday."
There was a chuckle in the earpiece, and then Eric’s voice came again: "George, don’t be like a grudge, I know you lost some money in the early days of the "Black Monday" outbreak, but then you The operation strategy is very successful, so you don’t actually have many losses, and you have already been compensated for these losses from several channels. You see, only recently, the Mexican financial crisis that broke out in 1994 made you At least $5 billion in profits, I guess, you must have noticed that a hedge fund called "Blackstone" has been cooperating with your actions, right?"
"It's really you, Eric." Soros sighed, "Yes, I noticed the existence of "Black Stone", and it was not only in Mexico's case, but recently, in Dai, Indonesia, and Malaysia. , Xingjiapo, in all these markets, I have noticed the existence of "Blackstone" and its fierce operation techniques. Eric, my first feeling at the time was that it should belong to you."
There was a chuckle again in the earpiece. Eric Tan neither admitted nor denied, but suddenly switched to a very solemn tone and said, "I agree."
"Eric, did you agree? Really?"
"Yes, but I have one condition..."
After hanging up the phone, Soros gave a bitter smile, sighing in his heart: This is really full of Eric's style!
...
Soros' actions were as fast and fierce as ever-in fact, he had made a lot of preparations for this wave of attacks.
These preparations include: borrowing a large amount of Hong Kong dollars in the form of short-term loans in advance, with an amount of 200 billion; doing a large amount of money in the stock spot market, pushing up the Hang Seng Index, and the Hang Seng Index can reach an unprecedented 16673 points on August 7, 1997. The high point is due to the large purchases of the "Quantum Fund" and its associates.
(The above data refers to historical facts, the author's note.)
This opens up the market space for short-selling the Hong Kong dollar and Hong Kong stocks-the higher the rise, the stronger the fall, right?
Of course, while buying large sums in the spot market, "Quantum Fund" and its Wall Street partners have also established a large number of medium-term short contracts-among which the funds used to short the Hang Seng Index futures reached 60 billion in the form of securities lending. The funds borrowed to prepare for airport stocks reached 170 billion Hong Kong dollars!
(The above data are historical facts, the author's note.)
In this way, when the market is really crushed by them, they will be able to buy back the Hong Kong dollar and close their positions at a lower price, thereby earning excess profits.
On October 21, 1997, all preparations were completed, and Soros' attack was officially launched.
The first wave of attacks was not aimed at Xiangjiang, but on Wandao.
Under the massive sell-off of the "Quantum Fund", Wan Dao only persisted for less than two days before declaring a fall. The authorities were forced to abandon the linked exchange rate mechanism linked to the U.S. dollar because of the rapid loss of U.S. dollar reserves. The exchange rate remained basically unchanged, according to the floating mechanism of the exchange rate of the US dollar against other currencies), it depreciated 3.46% against the US dollar within a day, and the TAIEX stock index fell more than 1,000 points for two consecutive days, triggering panic on the island.
The panic quickly spread to Xiangjiang, and the market was full of "wolf coming" calls. Soros took the opportunity to sell a large amount of Hong Kong dollars and stocks that he bought before. On October 23 alone, he sold more than 40 billion Hong Kong dollars. The exchange rate of 7.75:1 under the linked exchange rate mechanism is equivalent to drawing more than 5.1 billion US dollars in cash from the Xiangjiang market in one day!
At the close of the day, the Hang Seng Index fell sharply by 1211.47 points. In the next few days, Hong Kong stocks fell more than a thousand points for multiple days. On October 28, it fell by 1621.80 points in one day, breaking through the 10,000 points and 9,000 points in one breath. pass!
The stock market is a barometer of the economy. Such a violent decline in stocks immediately poured cold water on the various investment and speculation behaviors that were desperately speculating taking advantage of the major positive themes of Xiangjiang's return to homeland.
In just a few days, the economy of Xiangjiang went from the raging fire to the bitter cold.
With the overall economic downturn, Xiangjiang’s originally hot real estate market has also suddenly cooled down, and housing prices that have been soaring over the years have begun to loosen significantly. This is actually inevitable, because in Hong Kong, whether it is residential housing or commercial property, it is not just a house at this time, it is given more financial attributes, and it is actually the largest in Hong Kong. The investment subject matter, most of the assets accumulated by countless Hong Kong residents throughout their lives are reflected in the house, and because of the high value of the property, most people in Hong Kong have to bear huge debts to make this investment— -In economics, this is a great leverage.
Therefore, the decline in the value of real estate means that the assets of countless residents in Hong Kong have shrunk, and the real estate in the downward channel is more likely to detonate the debt and leverage traps behind it!
In such a dangerous situation, the newly formed Hong Kong Special Administrative Region Government certainly cannot sit back and watch. The Financial Secretary Zeng Mengquan has delivered strong-worded speeches for several days, expressing that the economic situation in Hong Kong is improving and calling on investors not to blindly follow the market. At the same time, he said that Hong Kong will adhere to the linked exchange rate system between the Hong Kong dollar and the US dollar. The Economic Management Bureau has raised enough US dollars and foreign exchange and has sufficient funds to cope with the selling spree of the Hong Kong dollar. At the same time, he also pointed out that the Hong Kong government will be based on the local settlement of capital. Although Hong Kong has returned to the crisis, the Hong Kong government does not rule out the option of seeking assistance from the mainland when necessary.
The speeches of high-ranking government officials mainly serve to soothe the hearts of the people. Relying only on the foreign exchange reserves of the Economic Management Bureau, I am afraid it will be difficult to independently fight the offensive launched by the "Quantum Fund" with most of the speculative capital of Wall Street. At this time, of course it is necessary. Mobilize local forces, unite and unite externally.
The local gangsters in Hong Kong responded quickly and made public speeches in support of the Hong Kong government. However, people soon discovered that among the gangsters who made speeches, a few people were missing, especially Although not counted as a long-term official resident of Hong Kong, he has a very strong influence and appeal in Hong Kong.
The richest Chinese in the world, Tan Zhenhua.
What was he thinking about?
What is he going to do?