When I am reborn in Hong Kong, I just want to lie down

On Tuesday, September 1992, 9, Handelsblatt published a news interview: At the end of the previous period, the president of the Deutsche Bundesbank had hoped to implement a broad exchange rate parity adjustment.

Such a simple sentence spread instantly to the electronic screens of all trading markets in the world at the speed of light, and was immediately translated into a signal for a massive attack on the pound.

The market began to go all out to short the pound. The Bank of England, which had already been exhausted, began to use foreign exchange reserves to rescue the market. However, the response that day was not good.

In order to save the collapsing pound exchange rate and, of course, the ERM system, the Bundesbank announced on September 9 that it had lowered the discount rate, but it was too late.

The next day, September 9, the pound exchange rate fell all the way, and the news was fed back to London.

The Chancellor of the Exchequer had a classic conversation with the then Prime Minister:

Chancellor of the Exchequer: "Prime Minister, we can't stand it anymore!"

Prime Minister: "How can it be that I can't stand it anymore? You must have a way, tell me quickly?" He may have added other greetings in his heart, but he is the Prime Minister and must maintain respect for the ministers.

Chancellor of the Exchequer: "Well, I do have another way. We raise the central bank's interest rates. High interest rates will attract the return of pounds and bring back the buying of pounds."

After hearing this, the Prime Minister immediately expressed his opposition: "No! No! If the economy is in recession now, raising interest rates will collapse."

Chancellor: "Mr. Prime Minister, do you want to die early or late? If we don't raise interest rates, the pound will immediately hit the streets. If we raise interest rates, we may be able to live for a few more days. Maybe, in a few days, the Quantum Fund will have no chips. We There is still a chance to survive.”

In the end, Mr. Prime Minister accepted the Finance Minister's suggestion and raised the interest rate on the morning of the 15th, from 10% to 12%. This increase would have been possible before the crisis, but you proposed an interest rate increase at this critical moment. ,What is the use?It will only serve as a signal that the pound is hopeless.

In this case, Li Bu could only say: "Intensify your efforts and use full firepower."

After the interest rate hike, the collapsing pound did not improve, and a second interest rate hike was carried out, from 12% to 15%, but everything was in vain.

Several people in the New York foreign exchange market were a little unhappy.

"Qiao Zhi, what's the situation now? We don't seem to have such a large amount of funds?"

"It must be those hyenas on Wall Street. They smelled blood and came over. That's good, we can make more, right?"

"That's true, but we will become a target and will not be welcomed by Europe."

"Does that matter? We are just big bears. What we do is seize the weakness of the prey, and then rush forward to bite the opponent's flesh and blood."

In addition to raising interest rates, the Bank of England used foreign exchange reserves worth US$249 billion, compared with US$269 billion in foreign exchange reserves.

These actions are of no use at all. The continuous interest rate hikes have become a reason for short selling. Just as Li Bu thought, the market confidence has been lost, and the collapse of the pound exchange rate has become a general trend. It cannot be saved by raising interest rates. The pound or the The central bank that led the United Kingdom had no power to resist in the face of a huge amount of selling.

The outcome will be decided on September 9th, and tomorrow will be the day of harvest.

On Wednesday, September 9, central banks, led by the Bank of England and the Deutsche Bundesbank, began to join the rescue effort, spending US$16 billion that day.

Everything was in vain. On that day, the pound exchange rate plummeted 18%, two points more than the original time and space. At this time, Li Bu issued the next order while the exchange rate was still falling.

"Let's start closing our positions before we make a profit on the last steel plate."

Under the puzzled eyes of others, Li Buxin continued to carry out the task. Li Buxin said, "You don't understand. It's okay if you don't understand. I don't understand why Sun Never Sets is such a bad guy that he throws himself into the street as soon as someone attacks him." "If this incident wasn't so famous and served as a wake-up call to all countries around the world, he wouldn't have known that such a thing was happening on the other side of the world. Of course, bankruptcies in several countries will happen in the future.

Did Li Bu only do things related to exchange rates?How is that possible? In [-], the exchange rates of Southeast Asian countries collapsed. Not only the exchange rates were affected, but also the stock market, stock index futures, etc. were affected. As the saying goes, one hair can affect the whole body, and this is what it means.

This time we not only shorted many companies, not only increased our positions in export companies, but also shorted stock index futures. If not, how can we maximize our profits?

Finland and Italy are scum. They only made a few hundred million dollars from there, which makes him look down on these two countries. What if you are going to fight against the Quantum Fund?

One country is very interesting. It actually withstood the crisis and raised the bank lending rate to 300%, which was shocking.

Some people are frustrated while others are proud. The proud people here may be unimaginable, and that is the nobles who have good relations with the Brown family. They have achieved a small degree of freedom in wealth during this crisis.

"Thank you, Old Brown, my old friend. We admire your insight." Faced with the praise from the Duke, Old Brown smiled reservedly, raised his glass, and accepted the praise. .

These people are drinking Latour red wine from France. It is red wine from the old winery, not the wine from those wineries that were purchased later. Now a bottle of wine from the old winery, a bottle of [-], has been sold for [-] US dollars. bottle.

As for the fact that the country has lost more than 300 billion pounds, it is said to belong to the country. What does it have to do with them? They made a few small goals in the foreign exchange market, but it was still US dollars.

"Everyone, I would like to introduce a friend to you. He is a rich and generous gentleman. I think you will also be willing to make friends with him." Old Brown's words attracted the attention of these dozen nobles.

It was the same Duke who said: "Old Brown, your friends are our friends. I also hope to see the rich and generous gentleman you mentioned."

"As you wish, Your Excellency the Duke." Old Brown gestured to his son, Little Brown, who nodded and walked towards the lounge.

When Li Bu appeared in this salon, it aroused discussion among the nobles. When the room quieted down, Old Brown explained to those who looked puzzled and said, "He is my daughter's boyfriend." I was embarrassed for a moment, and of course, Little Brown was also embarrassed.

But he quickly adjusted, shrugged, and continued: "He is also the father of my grandson." At this time, someone interrupted him.

The Duke said: "Abu? Or 'Li Bancheng'? I know you. Yes, you are a very rich man. I didn't know you were here. Do you have anything to say?"

His directness made Li Bu smile, and he said with a smile: "I am here to save the current bad economy of the UK."