Chapter 1233

For a financial market, whether short or long, the most feared thing is the confidence of the market.

As long as the market is confident, a shares can also reach 6000 points.

If the market has no confidence, it will fall back to 1000 points in an instant.

When Soros, with his proud achievements, took the initiative to admit that he was behind the shorting of Thailand, his confidence actually began to collapse.

Soros is also very clear about the routine, so he will announce his identity at the most critical time and directly give the originally anxious war situation the most vicious attack.

The fact is as Soros planned.

After Soros announced his identity, the contest on the 18th day began with an unimaginable advantage.

In just one hour, a huge empty list of more than 25 billion baht was thrown out. However, only 5 billion baht is prepared by Soros Foundation, and the other 20 billion has nothing to do with Soros.

So where did the 20 billion baht come from?

"They're here at last!" seeing the arrival of 20 billion, Soros finally smiled on his old face.

Because Soros knows that those international hot money who have always liked to rob meat behind him have finally entered the market.

In fact, at the beginning, Soros hated these international hot money very much, because they always ate meat behind Soros, which was clearly the territory laid by Soros, but these international hot money ate pots and bowls, but distributed most of the profits.

So at the beginning, Soros hated these international hot money very much, but there was no way.

But with the passage of time, Soros suddenly found that these international hot money is not a bad thing.

Although they will eat meat behind their own back, there are so many capital plates, and international hot money really doesn't cut much meat from their own plates.

On the contrary, these international hot money can boost their momentum. They can spend 10 billion to short a country, and these international hot money can spend 20 billion or even 30 billion to eat meat behind them.

This is equivalent to three times or even four times more than his own capital out of thin air, which is actually a huge and incomparable advantage for Soros.

When he sniped at sterling in 1992, Soros later said in an interview that the $12 billion he prepared was only $10 billion, and another $2 billion was useless.

But in fact, Soros knew that he was once in a very dangerous situation. The ZF of Yingguo was about to swallow all his funds, and his 12 billion was not enough.

Finally, it was the international hot money who contributed. They ate meat with Soros, which enlarged Soros' capital to about $40 billion, which directly became the last straw to crush the camel, made the government of Yingguo give up resistance, and made the pound plummet. Soros finally reaped more than $3 billion in profits from Yingguo, It became the most prominent war in his life.

This is the power of international hot money. Now is the time to let this power come on stage.

With the appearance of 20 billion baht of international hot money, Thailand's financial institutions that have been holding on, finally can't carry it.

In fact, international hot money has long come. Those who have a good relationship with Soros, or have sharp eyes, have long understood that Soros is behind the international hot money.

They have long been shorting the market with Soros, otherwise Soros would not have bought so much Thai baht and swallowed the previous $15 billion.

Now the influx of 20 billion baht is international hot money. They come to have the last bite of soup.

Although ZF in Thailand finally succeeded in eating these empty orders with its still reserved US dollars, this is only the beginning. In the afternoon, more than 50 billion baht of empty orders were sold into the market.

Thai institutions hesitated. If they want to eat the 50 billion baht, they need to spend a huge amount of $2 billion.

Thailand is a small country. Their own foreign exchange reserves are only 30 billion.

For more than half a month, in order to stabilize the market, they have successively invested 15 billion US dollars to stabilize the exchange rate of the Thai baht.

If another $2 billion is lost, more than half of the country's foreign exchange reserves will be used within a month, which is a problem that needs careful consideration for any institution and the ZF behind them.

So these institutions stopped. They need to consult the top leaders and let the top leaders make decisions.

With the stop of the state machine and the loss of gold coins to receive orders, the Thai baht began to flow thousands of miles, breaking through the previous 27:1 bottom line in 20 minutes and directly reaching the level of 28:1.

Finally, at the close, it even broke through to 29:1.

Although at this time, Thailand's top leaders have made a decision to maintain the exchange rate at all costs, even if they run out of $30 billion of foreign exchange reserves, they should keep the exchange rate.

This decision is correct and correct, but it should not be. This decision is late and interrupts the originally rigid process of maintaining the exchange rate.

In the previous 18 days, Thailand has always adhered to the bottom line of 27:1, which makes everyone believe that 27:1 is the bottom line of the Thai government.

Now the bottom line has been broken, that is, Thailand is short of funds, or it simply plans to give up resistance, and the Thai baht will flow thousands of miles!

Most people don't know the truth. They only analyze the information and then analyze such a natural result.

Then the market panicked completely.

Soros wants to seize this opportunity and start using the media to publicize that the Thai government has completely conceded defeat and they are going to give up maintaining the exchange rate. The value of the Thai baht will be reduced by more than dozens of times, and everyone's Thai baht will depreciate rapidly and finally become worthless waste.

The effect of these rumors is frightening, especially when they are not aimed at all financial institutions, but tell all the people in Thailand, everything will be over.

In the 19th year, when Thai institutions decided to continue to rescue the market at all costs, they found that it was not their opponents but their own people who took the lead in going crazy.

All banks in Thailand were crowded with people overnight. The crowds of people blocked the gates of all banks, and these people had only one request, that is, to change the Thai baht into US dollars.

"We can't change it, we'll have no money!" shouted Thailand's economy minister.

Then Thailand announced that it would temporarily stop the business of converting Thai baht into US dollars.

Thai institutions originally meant goodwill, in order to keep foreign exchange and further fight with international airdrop in the market.

However, this order completely destroyed the confidence of all citizens.

People in Thailand saw that the government ordered to stop exchanging US dollars, which means that the government really has no money, and the depreciation of the Thai baht has become a matter of course.

For a while, the exchange rate of the exchange has not changed, but the Thai baht is worthless in the market. Even many stores and enterprises have directly put up signs to reject the Thai baht. On the black market, the exchange rate of the Thai baht has plummeted below 50:1.

This time, all Thai domestic capital that originally held a large amount of Thai baht could not carry it. In order to protect their own interests, these capital also began to sell their own Thai baht, and hundreds of billions of Thai baht empty orders soared in the market.

When Thai officials saw so many huge empty orders, the whole person was stupid.