September 15th, midnight, Ingolan Bank in the foggy city.
For three hours, Norman has been standing in agony watching the red and green troops hovering around the lower limit of 2.7780 on the screen.
How many people are shorting the pound?
"How much money do we have left?"
"Our foreign exchange reserves have been exhausted, and the IMF only has 8.3 billion left. Fortunately, the other side seems to be slowing down its attack. If we persist, we will definitely win!"
Listening to this number, Norman felt dizzy for a while, but then his irritable mood was relieved by the only good news tonight.
Thanks to Chen Yi and Xia Jiba's mess, international short capital has all exited early. Although most of them have not yet reached the maximum shipment volume, so many players together can still fight against Ingolan Bank. .
But Norman was still very worried. It wouldn't be a problem if the stalemate continued like this!
No, I have to do something quickly!
He quickly called Schlesinger, the president of the Hans Federal Bank, and sure enough, the call was connected immediately. It seemed that the other party was also paying attention to the pound.
"Schlesinger, can you lower the interest rate?"
"No! Absolutely not! You know, our interest rate cut yesterday has made many people dissatisfied. Now we can no longer sacrifice our own interests for the pound! Norman, surrender, your opponent is not just a few speculative capitals. But the whole world..."
After saying that, he hung up the phone without waiting for Norman to reply, and muttered gloatingly: "You have a day, too, as a bastard!"
Norman was stunned for a while on the phone.
how so!
Our enemy is the whole world? !
Although Norman had been avoiding similar thoughts, this fig leaf was finally torn apart by Schlesinger's words.
No matter how confident they are, they dare not make enemies of the whole world.
what should we do?
correct!
We can also raise interest rates!
We still have US dollar reserves in Hong Kong Island!
Thinking of this, he immediately called Sister Mei again.
Two minutes later.
"William! Now I order you to use Hong Kong Island's dollar reserves to buy pounds in the Asian market!"
"Okay, Prime Minister!"
William shrugged on the phone, reluctantly glanced at the LCD screen, and then greeted a group of government officials to leave the villa.
"Okay, okay, let's start working, Chen. You must behave better later. Remember, you are doing it for the benefit of all Hong Kong Islanders!"
"Yes, I am a Hong Kong Islander and will definitely defend the interests of Hong Kong Island to the death!"
"You are right, today we are all Hong Kong Islanders!"
. . .
In London, after Sister Mei had just given the order to William, Norman was also discussing something with Robin Leigh Pemberton, the president of the Bank of England.
"Robin, I want to raise interest rates, you said..."
"Then increase. Let's raise interest rates by 2% first. When the news gets out, it should be able to temporarily bring the pound out of the danger zone. If that doesn't work, we will raise interest rates a second time!"
"Okay! I'll make an announcement right away!"
Ten minutes later, the central bank's public relations department issued a new announcement on major media and websites, raising the benchmark interest rate to 12%.
After receiving the news, all kinds of monsters and ghosts were in an uproar. Isn't this just drinking poison to quench thirst?
Although raising interest rates can temporarily return the pound to the market and relieve the current pressure on the pound, with the current recession of the bull country's economy, are we really not afraid of a stock market crash?
. . .
At Quantum Fund, Soros stood in the office hall and encouraged everyone, as if the horn of charge had finally sounded. .
"Niuguo has no other trump card. Now they can only pretend to be fat and maintain a tough posture, hoping to make everyone have confidence in the pound. Unfortunately, this just exposed their weakness and they have a guilty conscience!"
"The Bank of England only has a maximum of nine billion in capital reserves. Now is the best time for us to give them a fatal blow. We want others to see their weakness and start attacking!"
"attack!"
. . .
Chen Yi's voice also appeared in two different places at the same time, the coachman and Li Jiapo.
"Start accelerating now. Within half an hour, I want you to gradually increase the speed to the limit of the exchange server every second!"
. . .
After Norman announced that he would raise interest rates, the price of the pound miraculously rebounded, and everyone became excited. Although it was a matter of dying early and dying later, who would be willing to die early if he could die a little later?
But just ten minutes later, the trend that had just rebounded was immediately beaten back by a violent storm, and the pound price slowly returned to the lower limit of the ERM.
Norman started yelling angrily again: "What's going on? Haven't the Asian markets started buying pounds yet?"
"Sir, most of the staff over there have just gotten up and are on their way to the Hong Kong Monetary Authority. Moreover, Director Chen of the Hong Kong Monetary Authority encountered a car accident. Fortunately, he is fine. He is on his way now. It will probably take half an hour to start. working."
"Fuck! Fuck!" Apart from being incompetent and furious, Norman had no other good solution. He had never hated the cattle country's tradition of commuting to get off work on time so much. Most people never stayed for more than a second when they got off work. Go home on time now.
It's only around 7 or 8 o'clock on Hong Kong Island and it's not yet nine o'clock to go to work.
Unfortunately, he can only wait slowly for assistance from the Hong Kong Monetary Authority.
During the long half-hour wait, Norman became irritable again.
It only took fifteen minutes for the pound to fall below the lower limit, with no intention of rebounding at all.
"What's going on? Didn't we just raise interest rates? Why are there more people dumping! Pull them back!"
"Sir, we are already buying as fast as we can, but there are too many people selling. It seems that even many retail investors have started selling!"
2.792
2.786
2.781
2.778
2.776
2.773
2.769
Norman felt dizzy when he looked at the pound price, which had dropped to 2.778 and had no tendency to turn back.
Oh, God!
Has the whole world really given up on the pound?
"Sir, something is wrong! There are too many selling orders, and they are getting more and more! It seems that everyone is selling! We have to reserve funds and have reached the warning line."
Well, not only Soros and Chen Yi started to launch the final general attack, but all other big players also started to launch a general attack after seeing the pound breaking through the minimum limit. This time is the time to compete with who has the fastest hand speed. If the order speed is slow, In just one second, the amount of money lost from each order is tens of thousands.
. . .
"Chen! What on earth are you doing!"
"Your Majesty Prime Minister, we are already doing our best. You also know that I just had a car accident and I am still on my way to the Monetary Authority!"
"how much longer?"
"About twenty minutes!"
"Fuck! Can you go faster!"
"I try my best!"
. . .
"George! Look, most people have taken action!"
Seeing the blood red on the screen, Stanley said excitedly to Soros.
Sure enough, at this time, the pound was like a warehouse full of gunpowder. Just a spark could cause a big explosion.
Only two minutes after they started selling pounds with all their strength, others joined in, and even led retail investors from all over the world to sell pounds together.
This is the general trend. There is no way for the cattle country to recover unless Hans cuts interest rates significantly.
Well, this idea disappeared in less than 0.01 seconds after it appeared in his mind.
If you want Hans Federal Bank to cut interest rates, you might as well hope that they, the short sellers, will show mercy.
How could he have such a ridiculous idea?
. . .
2.72
2.71
2.65
2.62
2.59
Fifteen minutes later, Norman looked at the rapidly scrolling numbers on the screen with a gray face. There was only one billion in funds left, but it was only a drop in the bucket for those wolf-like short sellers. He didn't think about why Hong Kong Island was losing money. Haven't started taking action yet.
It's hopeless, everything is hopeless. Whether it's the British pound or his political life, it's over. Hong Kong Island's affairs have nothing to do with him.
Norman glanced at the number on the screen again. It had fallen to 2.58. After taking one last look, he left the office like a walking zombie.
Norman was already lying flat on his back, but Sister Mei obviously wanted to continue struggling, so he called Director Chen of the Hong Kong Monetary Authority again.
"Chen, I don't care where you are now, you have to buy pounds for me immediately!"
"Prime Minister, are you going to sacrifice me for your own political life?"
The words there made Sister Mei feel something was wrong. When did a small Chinese official in Hong Kong dare to speak to him like this?
"Watch your tone, Chen! Now you just have to follow my orders."
"Prime Minister, the pound is gone, give up." Director Chen just said to him calmly.
"What's going on with you! Hurry up and do what I say!" Sister Mei was completely impatient. What exactly was wrong with Director Chen today?
"Your Majesty Prime Minister, the pound has now fallen to 2.57, and is still continuing to fall rapidly. Even if Hong Kong Island's reserves of more than 40 billion US dollars are used to buy back the pound, it is impossible for the pound to rise back to the lowest limit. Are you Would you rather ruin the Hong Kong dollar and ask me to do such useless work?"
Director Chen's voice also had some anger. He was also a native of Hong Kong Island. Although he had been a dog to the Queen before and did some bottomless things, this did not mean that he had no feelings for Hong Kong Island.
And now Sister Mei would rather use the money to do useless work than give up the repurchase of pounds, which completely angered him.
Sister Mei also realized the seriousness of the problem at this time, and the pound was indeed unable to recover.
Is there really nothing we can do?
He lost consciousness for a moment.
"Your Majesty Prime Minister? Your Majesty Prime Minister?"
After Director Chen asked a few questions, the other party had already hung up. He curled his lips, thinking that the other party was going to fight hard to the end, so he gave up?
His phone recordings were rendered useless.
Director Chen shook his head and continued walking slowly on the way to the Hong Kong Monetary Authority. He was indeed rushing to the Hong Kong Monetary Authority, but he was just walking.
