On the evening of September 7, 1998, EST, the Quantum Fund was located at its headquarters in New York.George Soros, the big boss of the Quantum Fund and nicknamed the "financial giant", smiled and said to another person who was about the same age as him sitting opposite: "Jim, thank you very much for your reminder, if it weren't for your reminder and persistence, I think I would have lost a lot in this action to block the Hong Kong dollar, and even the previous profits would have been lost." ”The man called "Jim" by Soros shrugged his shoulders slightly and said, "George, we are friends, although we don't cooperate now, but after all, the Quantum Fund was formed by the two of us together, and I can't bear to see the Quantum Fund fail." ”Compared to Soros's somewhat vicious face, this Jim seems very kind.This person is Jim Rogers, who founded the Quantum Fund with Soros back then, and is also Soros's most trusted partner.It was only back in 1980 that Jim Rogers left the Quantum Fund to start his own business.Outsiders thought that he and Soros had torn their faces, but in fact, the relationship between the two was still very good.In fact, the fact that two people can sit alone in the same office and talk about things is enough to prove the relationship between the two people."
Anyway, Jim, if it weren't for you, I would have suffered a huge loss in this operation against the Hong Kong dollar, not just $800 million.Looking at the series of financial control measures promulgated by the Hong Kong Island government today, I feel very lucky.Jim, if it weren't for you, I would have lost at least $2 billion like Goldman Sachs and Morgan Stanley. ”Jim Rogers waved his hand and said, "George, the main thing is that you keep a clear head.I understand your character, and if you hadn't kept a clear head ten days ago, I'm afraid I wouldn't have been able to persuade you.Fortunately, you listened to my persuasion and left there on your own initiative.George, this is actually a victory for yourself.You lost $800 million, but you gained more experience through this incident, and that's a victory. ”Soros nodded, then frowned and said: "Jim, you also watched the whole process of the blocking battle, you say, is the huge amount of money that entered the market at the last critical moment the same amount of money that Huaxia took out?"
If it weren't for the emergence of that fund, the bears would have had the absolute upper hand, and the Hong Kong Island government would not be able to turn the tables around. ”"The time was too short, and the battle was too fierce at that time, and I couldn't figure out where the long money that entered the market at that critical moment came from."
Jim Rogers shook his head, "But my feelings tell me that that fund shouldn't be Huaxia's support fund!"
If my judgment is correct, there should be an inner ghost among you. ”Soros also nodded and said: "Actually, I've been thinking about this matter for the past few days, and I have the same opinion as you, this should be the work of the inner ghost."
It's just that who is the inner ghost?
”Rogers smiled and waved his hand, "George, I don't think you still understand, in fact, in that blocking battle, no matter whether the funds entered in the end or not, you were doomed from the beginning."
Premier Zhu on the other side of the authorities is a very powerful figure, and since he has openly said that 'the Chinese government will do whatever it takes to safeguard the prosperity of Hong Kong Island,' then he will certainly do it.It was a venerable wise man, but also a formidable strong man, and I don't think much of you at all when you are against him, so I advise you not to participate in that final battle. ”Soros smiled wryly and nodded, "yes, I miscalculated that person's determination.We are not wronged!
”"Alright, George, don't worry about this anymore.Although the lesson this time is very heavy, firstly, your losses are not very large, and secondly, through this incident, you can also understand one thing, that is, do not easily start a war with the other country.Forty years ago, the Union army was defeated on the Korean Peninsula, which has proven the strength of that country.Now, you have lost to that country again in the financial markets, so you must not try to challenge that country in the future, that country is not something you can challenge. ”Soros smiled and said: "Through this decisive battle, of course I can see this clearly, and I will not do stupid things in the future."
It's just that I'm very unwilling, where did the funds come from at the last critical moment?
”"Morgan Stanley, Goldman Sachs, Lyon, Jardine Fle, Solomon, Huijia, Merrill Lynch all suffered heavy losses in the decisive battle that day, and they could not have done such a thing; Julian's Tiger Fund is mired in rubles, and he doesn't have the money to start.But apart from these people, who else has the ability to come up with such a sum of money to enter the market and do something to us?
That's a huge amount of money at least more than 60 billion Hong Kong dollars!
Even I can't come up with that much money!
”Rogers also shook his head, and now there was no doubt about pursuing the matter.The names mentioned by Soros are all well-known investment banks in the world today, and these investment banks are doing serious business on the surface, but everyone knows that the dirtiest guys in the world are these investment banks.Even Soros's Quantum Fund and Julian Robertson's Tiger Fund are as pure as a thirteen or fourteen-year-old girl in front of these investment banks.These investment banks don't look serious on the surface, but the dirty things they do secretly can only be described in four words - it's hard to write!
If the bottom line of large hedge fund bosses like Soros and Robertson is the gate to hell, then the bottom line of these investment banks can reach the floor of eighteen layers of hell at the highest, and many of them simply have no bottom line!
These large investment banks are the spokespersons of major consortia, and the wars provoked by the United States all over the world over the years are behind these investment banks.Even many of the major decisions made by the U.S. government are driven by these investment banks.It can be said that for the sake of Hongguoguo's interests, these large investment banks really have no bottom line.To say that they sell their souls to Satan is to exalt them, but in fact Satan is their spokesman!
In fact, half of the so-called international funds come from these investment banks, but outsiders can't grasp the evidence at all.The Asian financial turmoil that has affected half the world is ostensibly led by Soros's quantum fund, but the real impetus behind it all comes from these large investment banks.Otherwise, you think that with the six or seven billion dollars of money in the Quantum Fund, he can do a.As far as the amount of funds in the quantum fund is concerned, he can't even settle with the Thai government!
And the financial crisis that swept half the world, the amount of funds involved in transactions has already exceeded the trillion dollar mark, and the quantum fund is not even able to make a splash when it is smashed.Blocking the Hong Kong dollar can be said to be the last gluttonous feast of this financial crisis.After all, Hong Kong Island's foreign exchange reserves are the third largest in the world, second only to Yuben and Huaxia, and the foreign exchange reserves of up to $82 billion are like an incomparably delicious piece of fat in the eyes of these big investment banks, and everyone wants to swallow it in one bite.In the past, in Thailand, Malaysia, Indonesia, Singapore, South Korea and other countries, these big investment banks have tasted the sweetness, but fortunately, Bay Island saw the opportunity quickly, and even did not resist and directly announced the depreciation of the new Taiwan dollar, otherwise the 80 billion US dollars of foreign exchange reserves on Bay Island would also be swallowed up by these big investment banks.Therefore, after swallowing up the hundreds of billions of dollars in foreign exchange reserves of Southeast Asian countries, these big investment banks have set their sights on Hong Kong Island.They want to continue to replicate the previous feat of embezzling the foreign exchange reserves of Southeast Asian countries and swallow the foreign exchange reserves of Hong Kong Island in one gulp.Although the foreign exchange reserves of $82 billion on Hong Kong Island are the wealth of the people of Hong Kong Island who have worked hard for decades, they will not care so much about those big investment banks.In their eyes, the millions of people on Hong Kong Island have worked hard for decades to accumulate these family foundations, which are prepared for them.It's just that they really didn't expect that the Chinese government, which had just recovered the ownership of Hong Kong Island, would be so resolute and really maintain the prosperity of Hong Kong Island at all costs, and they wouldn't have imagined that just before the final decisive battle on August 28, 1998, the Chinese government would still directly take out a huge amount of funds of 60 billion Hong Kong dollars to resolutely safeguard the status of the Hong Kong dollar after announcing that the national currency would not depreciate!
August 28 is the settlement date of Hong Kong Island Hang Seng Index futures in August, and in the more than a year before this day, in order to completely defeat the Hong Kong dollar, major investment banks have made countless preparations behind Soros, waiting for the day to completely defeat Hong Kong stocks, and then let the Hong Kong dollar completely collapse.They all knew what Premier Zhu said before, but these big investment banks did not believe that the governments of Huaxia and Hong Kong Island would interfere in the financial market, and the various preparations they had made before also made these big investment banks have no choice but to send arrows.Then, a huge amount of funds gathered on Hong Kong Island on this day, and the trading volume of the Hong Kong Island stock market broke the historical record on this day alone, with a one-day trading volume of up to 79 billion Hong Kong dollars!
As for the funds in the foreign exchange market and the stock index futures market, that is even more of a heavenly amount.It's just that these big investment banks would never have thought that the Hong Kong Island government and the Huaxia government would be so determined, and coupled with the huge amount of long funds that suddenly entered the market at a critical moment, it became the last straw that broke the camel's back.The tragedy of the financial market on Hong Kong Island that day was unprecedented, but if we put aside the tragic situation of this day, then the point of 7829 points at the close of the Hang Seng Index on August 28 is really a very flat number, it even fell by 93 points from the previous day, but the significance of this figure to the financial market on Hong Kong Island is immeasurable.It has allowed the Hong Kong Island stock market to gain a foothold completely, leaving international speculators not only without room to make profits, but also inevitably suffering huge losses because their contracts have expired.$11.2 billion!
This is the final profit figure of the Hong Kong Island government on the surface, and it also represents that the Hong Kong Island government has finally won the victory in the battle to defend Hong Kong Island!
Similarly, this figure means that the major investment banks have lost $11.2 billion in this Hong Kong dollar resistance war that has been carefully prepared for more than a year!
Although it is said that playing speculation requires the awareness of losing money, if there is no sudden entry of that long capital, even if the Hong Kong Island government can win, it will only be a miserable victory.Who is the owner of that long money?
This is one of the number one problems in the minds of senior executives of major investment banks.