"President, what should we do? There are rumors again today that we have insufficient funds."
Bassong also had a sad look on his face. This time it was really not a rumor, but their funds were really insufficient.
Last year, Thailand's foreign exchange reserves were more than 30 billion U.S. dollars, but starting this year, due to the trade deficit, the U.S. dollar reserves were only more than 20 billion U.S. dollars. A lot of them were used before, but now they are about to bottom out.
Only then did he realize that he seemed to have underestimated Soros and those international speculators. This time, it’s definitely not just Soros’s Quantum Fund, there must be others joining in.
Originally, he wanted to stalemate with those international speculators and bring them down, but now it seems that the Thai government is going to be brought down.
At this time, Basong had an idea and came up with a good idea. Don’t you always release false news? I can do that too.
…
Huh? This is impossible, right
Feng Yu watched the Thai news broadcast on TV. Basong talked eloquently in front of reporters, saying that they had exchanged all their original reserves of Japanese yen and German marks into US dollars in the market. With their original reserves, they also had With 30 billion US dollars in capital, we will definitely win, and it will be a big win!
"Brother Feng, does Thailand still have reserves of Japanese yen and German marks?" Fu Guangzheng asked worriedly.
"There is definitely some. They mainly have these three types of foreign exchange reserves. However, according to their basket of currency policies, the Japanese yen's reserves will not exceed 15%, and the German mark's reserves will never exceed 100%. Ten times, even this data is overestimating them."
"So, this is false news?" Fu Guangzheng's eyes lit up, it turned out to be a false alarm.
"It can't be fake any more. They have already spent all their Japanese yen and German marks. Yesterday, the Thai baht was raised in the market. They used Japanese yen, and this morning they used German marks. They also exchanged it for US dollars to buy Thai baht. That I really don’t know how Bassong managed to become the governor of the central bank.”
As long as there is money to buy Thai baht, the exchange rate of Thai baht will rise, regardless of whether you use US dollars or Japanese yen. The person who wrote this speech for Bassong is also a financial idiot!
"Then how much foreign exchange reserves do you estimate they still have?" Fu Guangzheng asked, leaning his head.
"It won't exceed five billion US dollars. They will run out of ammunition and food by tomorrow at the latest!" A wave of offensive today will be tested tomorrow, Thailand's last resort.
"So, the winner will be decided tomorrow?" Fu Guangzheng looked delighted. Winning so easily? Then wouldn’t the money he invested in Fengyu Consulting also make money
Feng Yu rolled his eyes at Fu Guangzheng: "Didn't I tell you that if there is a problem with your funds, how would you choose?"
"What do you mean, they will go out to ask others for help or borrow money? Do you know which country it is?" Fu Guangzheng remembered that Feng Yu had indeed told him about this issue.
"The most likely one is Nanyang, followed by island countries and Indonesia, and then Malaysia and Taiwan. But no matter which country lends money to Thailand, it will not be too much. More than 10 billion US dollars is the maximum capacity. Those The country’s foreign exchange reserves are not very sufficient. And whichever country lends money to Thailand will be our next target!”
The foreign exchange reserves of those countries are not high. If they still dare to lend money to Thailand, they are seeking death. The money borrowed will not only not help Thailand, but will also increase the crisis in their country. Any country that borrows money has a bad brain!
Anyway, Feng Yu told Zhu Tiezhi about this. In any case, China will not lend money to any Southeast Asian country, at least not in the past two years.
"Did Soros foresee this?" Fu Guangzheng asked nervously.
Feng Yu slapped his head and said, please, that's Soros, one of the best hedge fund managers in the world. How could he not think of this situation
Even if Soros drank too much and had a brain twitch, he didn't expect that the four kings under him would definitely be able to think of it. There are other agents, and there must be elites.
TM With your financial level, you actually dare to question Soros!
"Don't think of others as being on the same level as you, okay? Do you think Professor Liang can't think of this? Do you think your uncle can't think of this? Ask the agents in the big office, who can't think of it? If so , then you tell me, I can settle his salary and let him go home!" Feng Yu was very helpless.
Fu Guangzheng smiled coquettishly: "I'm just asking casually. I won't disturb your work. I'll go to the trading company to have a look."
…
Of course, Bassong knew that their funds were insufficient. He released false news, hoping to scare Soros and the others away, but found that it had no effect at all. However, to a certain extent, less funds escaped and the stock market fell at a slower pace.
But this is not enough at all. The rate of decline has slowed down, but it is still falling. Fleeing funds have decreased, but there is still capital flight. And those international speculators haven't stopped. The Thai baht is still being sold off. If there is no new funds in two days, they will be finished.
As a last resort, Basong went to the Prime Minister for help, hoping that the Prime Minister would come forward and ask other countries for help in the name of the country, either to help them raise the baht, or to simply lend them a sum of money.
Chavali was originally full of confidence. Was that what was said in the news? It was not until Basong came to report that he realized that Thailand had no money!
Chavari was born as a general and was not very good at politics, let alone economics. I don’t know how many Chinese people were fooled by those news, but Chavari was definitely one of them.
"You mean, if we can't borrow money tomorrow, we might not be able to bear it?"
"Yes."
Chavari almost took out his gun and killed the damn president! Damn it, you’re telling me this now? Even if I can borrow money in one day, I will definitely have to pay a huge price.
But if you don’t borrow money, the losses will be even more severe. Basong told him that once the exchange rate plummets, Thailand's economy will inevitably collapse, and domestic inflation will occur. The foreign debts alone can crush Thailand!
"Now you try your best to hold me back while I borrow money. If you tell me it's too late before I borrow the money, then I will kill you!" Chavari said angrily, showing his warlord style at a glance.
The frightened Basong went back and asked some experienced people, and even invited some private financial experts to discuss how to deal with it.
When both sides have similar strengths, strategy can play a vital role. But when one party has a crushing advantage, the role of strategy is nothing more than delaying the time of failure.
Soros held the champagne glass and drank happily. Does your Thai government have no money
Haha, we still have money!
I recommend my friend Rise of the Apes' masterpiece "Entertainment Master", ISBN: 3483511 (To be continued.)
(End of chapter)