At three o'clock in the afternoon on the 14th, Italy announced that Lira would withdraw from ERM. People who received the news had different reactions.
A group of people on Wall Street and international short-term hot money were dancing with excitement. The collapse of the lira has proved that it is no longer an era for central banks to control the currency market. Now that everyone has successfully previewed the lira, everyone's attention has turned to Pounds above.
Short sellers all over the world are staring at the pound and getting ready to make a big move.
. . .
September 14th at 7pm.
Cow country, foggy Westminster Palace.
"Norman, I hope you can pay attention! Now the rapid development of the Internet has affected the trading market. In the past, everyone recorded and completed each transaction manually, but now you can easily conduct transactions by just typing on the keyboard and clicking the mouse. , didn’t you notice that yesterday’s single-day trading volume of Italian profit exceeded 10 billion U.S. dollars! Oh, my God, it’s hard for me to imagine that this kind of thing would happen in front of my eyes!”
Alston, the deputy minister of finance of the Niu Kingdom, was persuading Norman, the finance minister, with earnest words.
Prime Minister Theresa May and Chancellor of the Exchequer Norman are both members of the Conservative Party. May is also the leader of the Conservative Party. As a senior official of the Labor Party in the Treasury, Allston has always been marginalized.
The Labor Party has actually been opposed to joining the European Community. The Labor Party believes that this is a strategy proposed by the Conservative Party to promote the privatization of cattle country.
If this continues, it will only create a monopoly. At that time, the room for improvement of ordinary people will be compressed, which may cause some serious social problems.
In fact, everyone understands what is going on, but it is a pity that Mei is now riding a tiger. The strategy of joining the European Community is an important basis for him to kill Mrs. Thatcher and other competitors. If he vetoes this strategy at this time, That is to completely deny the rationality of Sister Mei's ascendancy.
Therefore, Mrs. May must suppress all voices that oppose this strategy. Of course, Labor Party leader Allston, who strongly opposes the country's entry into the European Community, is also on the Conservative Party's blacklist.
Norman waved his hand impatiently and said to him: "Do you want to say that the Bank of England does not have enough foreign exchange reserves, or continue your old theory that the pound will be kidnapped by the mark, so this does not suit us. Interests?"
"Yes! I don't think the Bank of England can maintain the current exchange rate of the pound. I suggest exiting the ERM system as soon as possible, so that we can stop losses in time!"
"Damn it! You bastard, you are completely denying what we have done in the past two years!"
"That's what I always meant! If this continues, we will pay a heavy price for this! This is a waste of taxpayers' money, and by then our government will be completely defeated by public opinion!"
"Nonsense! You are alarmist. Ingolan Bank has sufficient foreign exchange reserves. Those short sellers are completely vulnerable to us. What you say is simply impossible to achieve!"
In this way, the two people's words to each other gradually made the quarrel reach a fever pitch.
Others in the conference room shrugged helplessly. They had become accustomed to this situation recently. They were not used to Auston quarreling with Norman every once in a while.
Bang!
The door to the conference room was suddenly slammed open, probably because the visitor was too excited and rushed to open the door. The fierce collision of the door resounded throughout the conference room.
Norman saw that it was Alan, the head of the trading department of the Bank of England. At this time, he was looking at Norman in panic!
Just as he was about to say something, Norman spoke first and blocked his words.
"Alan! You better give me a good explanation. Don't you know we are in a meeting?"
Allen immediately said, "But..." Unfortunately, he was rudely interrupted by Norman just as he said "But".
"No but, I don't want the officials of the kingdom to be as rude as you. You'd better have a good explanation, otherwise..."
Allen was already extremely anxious. After hearing Norman's threat, he didn't care about what would happen next and immediately interrupted him.
"My lord! The pound is falling and has now fallen below 2.79!"
"Isn't it just falling below 2.79? What's all the fuss about...What?! It's falling below 2.79? This is impossible! Take me to Ingolan Bank quickly!"
After Norman shouted these words, he took Alan and ran out of the Westminster Palace quickly regardless of the group of people in the meeting.
Allen drove Norman through countless red lights and rushed to Ingolan Bank as quickly as possible.
"What's going on now?" Norman came to the trading department office and asked straight to the point.
He looked at the dense red and green numbers on the computer. The numbers in the two colors looked like two armies fighting fiercely. The red army was slowly eating away at the green army.
"At first, we suspected that short capital was involved, but looking at this situation, it seems that retail investors are fleeing on a large scale?" Allen paused at the end and expressed his conclusion in a doubtful tone.
Allen's doubts are actually normal, because the transaction amount of selling orders is so irregular, the numbers of each order are different, and the quantity gap is also very large. It does not look like a collective action but like a large number of retail investors running away together.
But although everyone is staring at the pound and preparing to short, the predators have not taken action yet!
What does it mean that a large number of retail investors ran away first?
What the hell is going on?
Allen swore that this was the first time he had seen such a bizarre scene in all his years of doing this.
Could it be that the group of retail investors who usually only know about it later received some news this time before the predators?
It’s impossible even if you think about it!
And Norman couldn't figure out what was going on, but it didn't matter. The most important thing now was to bring back the price of the pound quickly, otherwise it would be dangerous if it continued to fall, and those predators might follow suit!
"Quick, why are you still standing there? Buy! Hurry up and buy at a super high price! No matter how many selling orders there are in the market, we have to take them. Pull the price up for me! Whether it is the spontaneous behavior of retail investors or the organized actions of other short-selling capital Behavior, I don’t believe they can continue like this!”
Norman's words woke up the traders in the office who were still dazed. They all hit the keyboard crazily with hand speed that could be compared to those who have been single for thirty years.
. . .
At the same time, Wall Street in the United States.
Although it was already late at night and the weather was gradually getting cooler, every building was still brightly lit.
Everyone on Wall Street knows that tonight is destined to be a sleepless night. They will create history, completely tear apart the powerful disguise of Ingoland Bank, and then remove the last fig leaf of the empire on which the sun never sets.
Soros was looking at the fierce competition between the red and green armies on the computer screen with great energy, without any signs of fatigue that he should have at his age.
But compared to his seriousness and calmness, some people couldn't sit still.
"George, what's going on? Is there any big bad news?"
"Stanley, I just checked and found that no media has released any bad news within three hours. It is impossible for retail investors to know of any bad news before we do."
Soros directly and categorically denied the possibility of someone spreading bad news on a large scale in the market, and some heads in the office were quick to realize what was happening.
"Did the group who cleared the area yesterday do it?"
"Yes, it's them! Although the scale today is relatively small, if you zoom in dozens of times, you will find that the operation is exactly the same as yesterday."
"George, what should we do? Now the opponent's scale is getting bigger and bigger, and some hot money has been attracted by them. If it keeps snowballing like this, I'm afraid the originally planned time will no longer be suitable. Should we enter in advance? "
After Soros heard other inquiries and thought for a while, he also felt that if he went according to the original plan, the price of the pound would probably be reduced by a certain amount when the sale was made, and the profit would be reduced a lot, so he thought in his mind A decision was made.
"Now that a new comrade has joined, let's start selling pounds now! I see that this comrade just wants to make money and doesn't want to accept this honor, so I'm not polite. We can't let our comrades fight alone on the battlefield! Honor! It belongs to us and we will be recorded in history!”
In the office of the building where the Quantum Fund belongs, a group of people are very energetic. Although it is about three hours ahead of schedule, it doesn't matter. With a huge new force joining them, it won't be a big problem for them to start the final attack in advance.
Since the other party doesn't want fame, then they won't be polite. After they become famous this time, the scale of Quantum Fund can expand rapidly. This is one of the important reasons why Soros strives to be the leader of this Wall Street operation. .
At this time, not only Soros, but other big players around the world also discovered this fierce friendly force. After thinking for a while, although they did not decide to directly attack like Soros, they also began to increase shipments in small batches to test.
Tonight's foggy city is destined to be a sleepless night.
