Chapter 905 Thailand's Counterattack
"Brother Ji, I heard that you have learned mahjong very quickly these days?" Feng Yu asked with a smile.
"Hahaha, that's okay. Your Chinese national treasure is really interesting." Kirilenko laughed wildly.
Yesterday, Kirilianko was very lucky and had a big victory. In addition, all futures contracts and other delivery were all delivered, not only filled all losses and interest, but also made some profits, which made Kirilianko in a great mood.
"How is it? Are you interested in playing a few more laps today?" It's rare that Feng Yu wants to relax.
"Come on, but be careful, the Fu brothers all called me the God of Gambling yesterday!" Kirilianko looked at Feng Yu condescendingly, his eyes full of pride and contempt, as if he had won.
"Hahaha, God of Gambling? I just like to play with God of Gambling for a few rounds."
...
"Feng, how long do we have to rest?" Kirirenko asked while playing cards.
"When the Thai baht exchange rate returns to around 25:1, we will enter the market. Now we are looking at other countries and choosing to establish some forward foreign exchange contracts. Why, are you doing something?"
"Well, our electronics factories should be installed and debugged in the next few days. I want to go back and take a look." Kirilianko knew that it was useless to be here because he didn't know anything.
Instead of worrying about not being able to help here, it is better to go back to China to do some serious business. The electronics factory will start construction one day earlier and the mobile phone will be produced one day earlier.
Feng Yu told him that the new mobile phone has been successfully developed and is waiting for his factory to be put into production and market at the same time.
"Okay, early July, make sure to see the difference. Then every month, you can see a big profit."
"Hahaha, then we will do nothing and we will not spend all the money in the future?" Kirilianko laughed.
Feng Yu thought for a while: "It's almost the same. If the stocks you invest in can be sold back, the shares in the mines, the shares in the factory, the shares in the trading company, and the shares in the software company can be sold, you can spend all your life spending money."
This time, even if Kirilianko made less than Feng Yu's profit, in more than a year, Feng Yu guaranteed that Kirilianko could earn more than 2 billion US dollars. If all the investments were cashed out, Kirilianko would have at least 6 billion US dollars in assets. Even if he did nothing, he would have it in the bank. The annual interest was also a money that many people would never make in their lifetime, which was enough for Kirilianko to spend their entire lives.
Even if Kirilianko is taking drugs, he can't get enough money!
Unless he gets addicted to gambling, this is the most terrifying way to spendthrift. Of course, he also needs to find an opponent of the same level.
Everyone was chatting while playing mahjong. Feng Yu was the translator between them. Although Kirilenko's pronunciation was not accurate, they could understand it. Anyway, there were only a few words.
There is an old saying in Northeast China that the favorite people often lose the most. After playing a few laps today, Feng Yu lost alone.
But Feng Yu still smiled on his face. The little money he lost was nothing. The important thing was to pass the time. He would not be like his father. He would almost lose with a single dollar mahjong!
It was a good meal at night. Feng Yu rarely had no wine this time. He drank it happily with Brother Ji and got drunk happily. Of course, he still did not drink much as Brother Ji.
...
"The central bank announced that banks are strictly prohibited from lending Thai baht to certain fund companies."
"The government will take out another 5 billion US dollars of foreign exchange reserves to absorb Thai baht, so that international speculators will lose all their money!"
"The central bank has issued a new policy, and the offshore overnight lending rate has been adjusted from ten cents to one hundred cents."
Feng Yu looked at the Thai news reprinted by the Xiangjiang media, and the corners of his mouth curled up. The Thai government finally took action!
The exchange rate of the Thai baht has fallen to 27:1. If it continues to fall, then Thailand will start with finance and the economy will collapse completely, not just now, the stock market is turbulent and the real estate market is cold.
Banks are strictly prohibited from lending Thai baht to certain fund companies, of course, they are not allowed to lend Thai baht to Soros. But the Thai government can manage their local banks, but cannot manage foreign banks.
There are fifty banks with offshore finance qualifications, of which only fifteen are local. Although this has an impact on Soros and others, the impact is not too great.
The last two are the ones that have a great impact.
If the fifty US dollar foreign exchange reserves are operated in reverse, the exchange rate of the Thai baht will be increased, and Soros and his team will lose money. If they want to continue to suppress the Thai baht, they will have to take out more funds. Now this money can no longer disrupt the situation.
When they first started, the Thai government took out $2 billion in foreign exchange reserves. If Feng Yu had not joined at that time, Soros and the others would have lost a lot at that time.
Even if Feng Yu joined, Soros and the others lost some of their losses at the beginning, but they were all within the affordable range.
The most ruthless thing is the central bank's new policy, the offshore lending rate has increased tenfold. This is not an ordinary lending rate adjustment, but an overnight lending rate, specifically aimed at Soros' quantum fund, which prevents it from selling the Thai baht quickly.
The original interest rate was 10%, but now it has become 100%. Soros and the others' cost has risen sharply.
However, Feng Yu believes that this is not ruthless enough, and 100% is enough. If it were him, he would increase the overnight interest rate to 1,000, or even 2,000, so that Soros and the others could not borrow the Thai baht to sell. If they borrowed it, they could not pay the interest!
He remembered that in his previous life, the overnight rebate really increased to more than 1,000%. He couldn't remember exactly how much it was. Why is it only 100% now? The Bank of Thailand will definitely not scare Soros like this.
They don’t understand Soros’ appetite. You should know that Soros established a forward foreign exchange contract of $15 billion a long time ago, and Soros used a higher leverage ratio through financial companies. Most of Soros’ funds are used to suppress the Thai baht.
...
"Boss, Thailand has suddenly introduced a series of policies, all of which are targeting us!" Zhuken Miller reported.
"Hmph, I've been waiting for their actions. Before, we set the Thai baht exchange rate a little, and they used their foreign exchange reserves to pull them back. At that time, we didn't get the news in time. And this time, even if they used more foreign exchange reserves, the news we released was enough to make other foreign capital follow the trend. The Thai government could not withstand it." Soros said confidently.
"But, this time, there is no help from Feng and others. Will our funds be insufficient?" Zhu Ken Miller was a little worried. After all, their funds were also dispersed a lot. Forward foreign exchange futures contracts have been established in many Southeast Asian countries. Although there is leverage, the actual margin ratio they delivered is not high, but who asked them to build more positions?
Each of the countries and regions they are targeting has built a forward contract of no less than US$10 billion, and the funds they have to pay will cost at least US$500 million!
"When we originally planned, we didn't have him. He didn't have more, and he didn't have less. If we informed us, the overnight interest rate increased, so we would borrow a little longer and continue to sell the Thai baht!"
Chapter completed!