"Boss, how do we operate now?" the trader asked.

"First take out 200 million U.S. dollars and short the Thai baht at a rate of 40 million U.S. dollars per minute. Don't be too hasty. After all, our bullets are limited, and we have to give the bulls a chance to react, right?"

Zhu Changhong said with a smile, but a sharp cold light flashed in his eyes!

Zhu Changhong has already seen the signal sent by Soros and started to act. Then there is no possibility that Citigroup, Morgan and other financial giants who have been in the financial world for decades cannot not see it.

In an instant, the Thai baht exchange rate, which had stayed at 26 for nearly seven or eight minutes, fell straight down. In just three minutes, it was hit to 28, and was once close to 28.2!

Seeing the Thai baht exchange rate plummeting like a waterfall in front of them, many foreign exchange traders were dumbfounded.

Having been in the foreign exchange market for so many years, they have not seen big scenes, but like the Thai baht, it fell by more than three yuan in just ten minutes from 3:30 to 3:40 in the afternoon, which was a huge drop.

They have never seen anything more than 10%.

At this moment, they really have a feeling of doubting their life.

Is this still the foreign exchange market where it is often said that there is little volatility and you will definitely not be able to make money without leveraging?

Even for the stock market, if it falls by more than 10% in ten minutes, it would trigger a circuit breaker and stop trading, right?

As for those foreign exchange traders who just thought there was a bargain to be found and thought it was a fool who was slippery, now they are looking at the screen in front of them with expressionless expressions.

Basically, it can be said that if there had been no margin call or no liquidation of positions in tears, all the traders who endured the pain and exited the market would have been liquidated by now.

After all, faced with a 10% fluctuation, even traders who only use ten times leverage cannot withstand it.

"Fuck, I don't believe it anymore. The Thai baht exchange rate can really drop so much in one day. Keep buying, I will be a dead long today!"

This statement can be said to express the sentiments of countless mature and experienced foreign exchange traders.

As we all know, currency is the foundation of a country. If one's country's currency is allowed to depreciate significantly, the country will not be far from death.

Zimbabwe is a good example, a country with more than a dozen zeros on its banknotes.

Before the millennium, Zimbabwe was still a relatively strong and wealthy country in Africa. It was a country with relatively developed industries in Africa. Manufacturing, agriculture, and mining were the three pillars of the economy. Zimbabwe was famous for the production of high-quality crocodile skins, and was known as the "Land of Crocodiles."

” reputation.

When the Zimbabwe dollar was first issued in 1980, its exchange rate with the U.S. dollar was 0.68:1.

Well, yes, in terms of pure currency value, the Zimbabwe dollar was indeed worth more than the US dollar at that time.

But at the turn of the millennium, due to US sanctions and the inability to save the exchange rate from falling, the exchange ratio of Zimbabwean dollars to US dollars soon reached one million Zimbabwean dollars to one US dollar.

Although the exchange ratio of the second set of Zimbabwean currency issued in 2005 to the first set of Zimbabwean currency was 1000:1, it still did not reverse the rapid depreciation of the Zimbabwean currency's exchange rate.

In June 2008, the exchange ratio of Zimbabwe's new currency to the U.S. dollar officially exceeded 100 billion Zimbabwe dollars to 1 U.S. dollar.

At that time, one hundred billion Zimbabwean dollars could only buy one loaf of bread.

Subsequently, Zimbabwe issued a third set of currency, with ten zeros subtracted from the face value, but was soon forced to issue another 10 billion face value of Zimbabwean currency.

As for the fourth set of currencies, twelve zeros were subtracted from the face value.

The price of a currency exchange rate collapse is the collapse of the entire country.

In the 1980s, Zimbabwe's per capita GDP was more than US$1,100, which was more than four times China's per capita GDP at that time.

Forty years later, China's per capita GDP increased from more than 200 US dollars to 10,000 US dollars, an increase of more than 40 times. However, Zimbabwe's per capita GDP has become 0.1 US dollars, which is 60 cents of Chinese currency.

Moreover, the average life expectancy in Zimbabwe has dropped from around 60 years to 37 years for men and 34 years for women, making it the poorest country in the world.

To be honest, those who know something about Zimbabwe in the 1980s and 1990s will definitely not be able to understand that it had more than 3,000 kilometers of railways at that time, more than 30 tons of gold mines were mined annually, ranked tenth in the world, third in the world in asbestos production, and

With four billion tons of coal existing, how could it become like this?

Therefore, almost all foreign exchange traders can firmly believe that Siam will definitely take action to save the Thai baht exchange rate.

Even if the exchange rate cannot be raised back to the original 25, it can always be raised to 26.

After all, according to the software’s transaction volume prompts, in just ten minutes, the other party spent almost three billion dollars in ammunition.

The amount of funds of three billion US dollars is certainly huge, but as a government of a powerful country, Siam will not be able to provide even three billion US dollars.

And if the exchange rate is only raised to 26, two billion US dollars will be enough.

Even if the short sellers are exhausted now, maybe a billion dollars will be similar.

What they need to do now is to buy, reduce the original cost, and strive to get out of the trap as soon as possible and even make a profit.

However, another main reason that supports their choice to buy now is that the financial market, whether it is stocks, foreign exchange, futures, or futures, has a phenomenon that when it rises too much, it falls, and when it falls too much, it rises.

Especially for things like exchange rates, if there is a country's overall credit and industry as the backing, it is even more impossible to say that there are too many deviations, so it will always return to the original price, even if it is only a partial return.

Even during a stock market crash, stocks will not continue to fall for many consecutive days. They usually fall for a few days and then rise for a few days.

If you even stretch the time span to more than half a year, you will find that even if there is a stock market crash, the number of rising days and the number of falling days will not differ much.

It's just that during a stock market crash, the decline is much greater than the rise.

It will definitely not happen. Everything is down, not up.

In the same way, the same is true for the bull market. The number of rising days and the number of falling days in the bull market are also similar, but the increase in the number of rising days in the bull market is larger.

And also know that in financial markets, prices usually flow in the direction of least resistance.

For example, right now, the decline in the Thai baht exchange rate has basically stagnated. Does that mean that the short sellers have run out of ammunition?

Then this would be very embarrassing.

Short sellers who have no ammunition can either just watch blankly, or choose to close their positions and put the profits into their own pockets.

But the problem is that closing a short position is a proper long position in the transaction, just like selling the stocks and other financial instruments in hand is a proper short position.

At this moment, they are already dreaming. Because the exchange rate has risen, some short sellers cannot bear the reduction in profits brought about by the rise in the exchange rate, and have begun to close their positions first!

As long as there are short sellers closing their positions, it will push up the exchange rate, and then more short sellers will be tempted to close their positions and choose to settle for safety.

After all, there are only so many chips in the trading market, and if short sellers can close their positions, long sellers must be willing to sell the financial certificates in their hands.

If all the cheap chips are eaten by them, wouldn't they have to choose more expensive chips?

Once the number of short positions liquidated is large enough, an avalanche will form, completely burying most of the short positions!

At this time, I'm afraid they will not only get out of trouble, but they may also make a lot of money!

Thinking of this, the faces of those foreign exchange traders were instantly filled with excitement.

"Can I say that retail investors are retail investors and they can't escape being cut off?"

Looking at the continuously pushed up Thai baht exchange rate on the computer screen and the number of small and medium-sized traders, Zhu Changhong couldn't help but sigh.

Generally speaking, those who dare to buy now are veterans of the financial market, while novices dare not buy at this time.

But even a veteran may not be able to escape the fate of being cut off or even having his position liquidated today!

These retail investors don't know how powerful the opponents they are facing now are!

Where did this come from? He had only fired 3% of the ammunition in his hand, but there was still 97% of the ammunition in his hand that had not been fired!

I believe that although Soros and others may have a higher ratio than him, it will definitely not be too high.

After all, their opponents are not these retail investors, but financial institutions like them.

Although many financial giants have firmly stood on the short side, there will always be some other financial institutions that will stand on the long side.

There is no way, the financial market is too big, and it is impossible for all financial institutions to move in step!

Unless celebrities in the industry like Soros come forward to integrate and say hello one by one, there is only the slightest possibility of unification.

But is this possible?

It is obviously impossible, not to mention that the financial market has always been a huge dark forest, and the trust between everyone is basically zero.

If Soros had informed them like this, many financial institutions might have felt that Soros was deliberately setting a trap for them and were ready to eat them up.

Let’s just say that it is impossible for any government to allow financial institutions to manipulate a country’s currency on such a large scale and in a planned way.

After all, if all these financial giants really unite, I am afraid that no country in the world, except the US dollar, can stop these financial giants from attacking their own exchange rates!

As soon as his thoughts changed, Zhu Changhong suddenly smiled casually. The veterans couldn't help but buy the bottom. This is really normal.

Otherwise, how could it happen? It is said that novices die from chasing highs and veterans die from buying lows.

Waiting quietly, Zhu Changhong looked at the Thai baht exchange rate in front of him expressionlessly, gradually climbing from 28.2 to 27, watching the funds in his account change from a floating profit to a floating loss.

Just let it be a floating loss, it doesn't matter.

All he needs to do now is wait and let the bulls on the opposite side gradually invest their funds.

It would not be fun if the funds in the hands of these bulls were not consumed in advance.

After all, you must know that the foreign exchange market is a huge market with a daily transaction volume of trillions of dollars, and tens of millions of people conduct foreign exchange transactions every day.

As for the stock funds accumulated in the foreign exchange market, it is calculated in tens of trillions of dollars.

Even though the Thai baht is only a small currency in the global foreign exchange market, the existing funds are at least 300 to 400 billion US dollars.

This amount of funds is obviously not something that his six billion US dollars can shake. Even if Soros and the others are added together, I'm afraid it won't be enough.

After all, Mr. Fang said that apart from them, the total funds in the hands of Soros and others will not exceed US$50 billion.

Although he didn't know where Mr. Fang got his data, based on what had happened in the past and his belief in Fang Chen, he believed that Soros and the others had 50 billion US dollars in hand.
To be continued...