v3 Chapter 1359： Australia's strong counterattack

"Everyone is here, then we will start the meeting."

"As for the current situation of the foreign exchange market, everyone has detailed information in hand and has already seen it. We are already at a disadvantage. The offensive firepower of Wall Street and international hot money is very strong, and we are already at a disadvantage."

"We must reverse the situation immediately, otherwise we will be breached by these financial robbers in Australia's financial system, and the entire capital market will be bloodbathed and face the same fate as Canada."

"If we lose, then I can only take the blame and resign, and many of you can't escape!"

The top Australian Treasury Minister Paul John said with his hands on the table, looking at everyone sitting with a serious face.

Everyone shuddered, and subconsciously sat up straight, but their eyes did not dare to collide with Paul John.

In particular, the central bank president Jack Stuff lowered his head in shame.

But he can't hide, Paul John directly named: "Jack, tell me what the central bank can do."

Jack Staf raised his head and took a deep breath to calm his mood and said: "Minister Paul, currently the central bank’s US dollar foreign exchange reserves are only 5.38 billion U.S. dollars, which is temporarily not enough to support the situation to reverse the situation. The top priority is to find Strong allies, as well as borrowing more US dollars and foreign exchange, are now competing for hard power, to see who has the fierce firepower and who can survive to the end."

"The central bank has studied two methods here. One is to further increase short-term lending rates, and the other is the government's order to prohibit domestic banks from lending Australian dollars to international speculators."

These two methods are both feasible, and one is more ruthless than the other, especially the second method, which is equivalent to cutting off more than half of the ammunition purchase channels for international speculators.

If there is not enough Australian dollars to hit the market, as long as the Australian government can support it, and international speculators have no Australian dollars to sell, the Australian dollar exchange rate is the Bank of Australia.

However, this can only restrict domestic banks, and cannot restrict the branches of foreign banks in Australia, nor can it restrict financial or entity companies other than banks. Therefore, there are still loopholes, but this loophole cannot be blocked, nor can it be blocked.

Of course, although the effects of these two methods will be very good, the harm will also be great. If they drag on for a long time, the domestic capital market in Australia will not be able to sustain it first, and it will easily become chaotic or even collapse.

Policy is only a means, the most important thing is to compete with hard power!

Paul John's face was a little slow, and he was fairly satisfied with Jack Staff's work.

But the most important thing is the US dollar foreign exchange issue!

He asked again: "Everyone thinks that if these two measures are implemented, how much US dollar foreign exchange do we need now to win this exchange rate defense war?"

"I think it needs at least 10 billion U.S. dollars. This is the amount needed under the premise that the hot money on our side does not withdraw."

"There is still a risk in ten billion dollars. I think at least 15 billion dollars are needed."

...

"The high short-term lending rate has already had a negative impact on the domestic economy in just over a week. If the lending rate is raised again, the adverse effects will be further highlighted."

"So if we raise short-term lending rates again, we must win this financial war as soon as possible, and we can't afford it!"

...

"If you borrow money, Wall Street will have a stronger influence on the World Bank Organization and the International Monetary Fund. It is difficult for us to borrow money from the World Bank Organization and the International Monetary Fund. This is why we have not borrowed money until now. the reason."

"I think it is better to borrow money from the United Kingdom, and the British government will find a way. Maybe it can coordinate the lending among the members of the Commonwealth. Canada is looted by capital, which has severely reduced the influence and overall strength of the Commonwealth. We have also been ransacked in Australia, and New Zealand cannot escape."

"At that time, the entire British Commonwealth will only be able to support the United Kingdom and India, and it will be difficult for the other more than forty countries to play a role. How can it compete with Hongsu and the United States?"

...

After the discussion, the opinions gradually unified, especially when it came to asking Britain for help, it has evolved into coercing Britain to help Australia.

According to their analysis, when the United Kingdom becomes the leader of the alliance, it has the responsibility to protect the younger brother, and the United Kingdom dare not protect it. Otherwise, the members of the Commonwealth will have to separate themselves from the United Kingdom.

Of course, it is not necessary for Australia to go this far.

Facts have proved that Australia's policy has worked.

After the meeting, Treasury Secretary Paul John reported the situation to Prime Minister Bob Lake, and Bob Lake directly called Margaret Thatcher for help.

Although the UK is deeply mired in a wave of strikes, the Conservative government's struggle with the unions has reached the most critical moment.

But in the end, the British government decided to help the Australian government. First, the Bank of England and its domestic banks loaned six billion US dollars of foreign exchange to the Australian government; second, the British came forward to match Australia and allow the Commonwealth members to reach out to Australia. Help, it is estimated that the guarantee will be 4 billion U.S. dollars.

The 10 billion U.S. dollars is fully assisted by the United Kingdom. As for private capital, how much the Australian government can invite depends on their own ability.

Regarding this kind of huge risk, the British government does not want its own capital to fall into it. After all, the behavior of capital is profitable and lossy. Unlike the government borrowing money, it must be repaid, and it is not afraid of loss.

If domestic capital suffers a serious loss, the long-term loss will only be local.

The behavior between governments depends entirely on the will of the upper echelons.

This time, it only took less than two days. With the help of the United Kingdom, the Australian government borrowed US$10.8 billion in foreign exchange . In these two days, the Bank of Australia chose to temporarily stop and let the Australian dollar. The exchange rate against the U.S. dollar fell below 0.9, and the bears were quite in the limelight.

However, after the 10.8 billion US dollars of foreign exchange arrived, the Bank of Australia has 16.18 billion US dollars.

With such a large amount of funds in hand, the Bank of Australia's waist was immediately hardened, and it was gearing up to fight back, regaining the top of the mountain, and hitting the shorts!

On February 11, the Bank of Australia held a press conference.

Australian Treasury Minister Paul John and Central Bank Governor Jack Staff attended the meeting at the same time.

At the press conference, Paul John strongly accused Wall Street Capital and international hot money, led by Bridgewater Fund and Tiger Fund, of malicious attacks on Australian foreign exchange, and strongly declared that Australia is not Canada and the economic development is in good condition. He shorted the Australian dollar exchange rate. Will kill itself.

After that, Jack Staf announced in the eyes of the public that in order to severely punish short positions, short-term lending rates will be raised again, from 22.117% to 35.249%.

At the same time, the central bank also issued another decree prohibiting domestic banks from lending Australian dollars to international speculators.

The moment the decree said it, the central bank's exchange rate department, who was ready for a long time, immediately started to throw out a steady stream of US dollars to clear the short list.

The shorts seemed to be overwhelmed by the offensive of the Bank of Australia. The Australian dollar exchange rate quickly surpassed the 0.9 mark from 0.8921 and then broke the 0.91 mark.

The momentum of the bulls' counterattack quickly took shape!

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