#精品长文创作季#
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«——【Preamble】】 ——»
Finance is a game based on illusions and lies, and if you want to gain and keep wealth, then you have to recognize what illusions are.
This is what the famous American financial tycoon Soros said.
However, in the 1997 Hong Kong financial crisis, he, as the main promoter, did not recognize it in the illusion and lies, which also made him lose the "property game" completely. What's going on?
«——[Jewish capitalist Soros]——»
For the financial world, the most concise understanding is to legitimately "take money" in other people's pockets and reasonably exit the "game" before others realize the problem, and if there is anyone who plays the best in this "game", Soros is the most famous.
Soros was born in August 1930 as a Jewish-Hungarian, and was one of the first people on Wall Street to play with the stock market, earning hundreds of millions of dollars in just 20 years with his keen market sense.
Soros was responsible for Black Friday in the United States in 1987, the loss of $2 billion to British banks in the stock market and shorting currencies, the Southeast Asian financial crisis, and the Hong Kong financial crisis in 1997.
In these financial crises, Soros's actions can be said to be more and more rude, the moral bottom line is getting lower and lower, the ambition for money is also increasing, and the hand extended to the market has become very wide.
On Black Friday in 1987, Soros relied on a large number of purchases in the United States for Christmas, but due to the imperfect market reserves, it led to a financial crisis, which led to hundreds of millions of people around the world losing their jobs and going bankrupt.
If there is bankruptcy, there is income, and in this financial crisis, Soros sensed the financial turmoil with a keen sense of smell, and thus reaped huge benefits, and thus became a millionaire.
For Soros, although he is not the richest in the world, he is the most "crazy" one after he is rich, and he can throw away all his belongings just to get greater benefits.
Although he made a lot of profits in the end, once this matter failed, he directly smashed the blood to no avail, it can be said that "the winner is king", and the loser is not even a "Kou", but he is very knowledgeable to gamble.
«——【Come to England, short the pound】——»
In September 1992, when the European monetary system was in crisis, he quietly came to England, after which he shorted the pound heavily in the market, causing the British bank to lose $2 billion.
Because his actions did not infringe on British financial laws at that time, the British government only dared to be angry and suffered a dumb loss, but these were just a preliminary test of the waters for Soros.
In the first half of 1997, Japan, Asia's largest economy, was hit hard by the bubble economy, while the rest of Asia was stagnating while maintaining its balance of payments.
This period can be described as a period of stagnation and recuperation after the booming Asian economy, and it is at this time that Soros has seen the economic situation in Asia, and the new financial turmoil brewing in his heart is aimed at the Asian market.
«——【Aiming at Asian Financial Markets·】——»
Soros's initial goal was to hit Malaysia's currency, the ringgit, and his first idea was to suppress the ringgit's exchange rate, create the illusion of economic instability in Malaysia, and secretly buy the currency in large quantities.
But after much thought, he found another financial market that is more volatile than Malaysia, which is the Thai baht, which is more prone to economic crises than Malaysia.
At that time, Southeast Asian countries were still enjoying the dividends of rapid economic development, among which Thailand's automobile and electronics industries were particularly developed. However, at that time, in order to attract foreign investment, Thailand implemented a very liberal economic policy and a fixed exchange rate. Financial freedom, but without a relatively well-developed regulatory system, laid the groundwork for subsequent crises.
In addition, Thailand is dominated by tourism, it can be said that Thailand's tourism industry restricts Thailand's economic environment, once Thailand's economic environment has problems, then Thailand can not support the development of tourism, at this time Thailand's economy must be faster than Malaysia's decline.
It is also important to note that Thailand's economy has been in a precarious state since the economies of Southeast Asian countries, and if there is a financial crisis, the whole Thai society will be in chaos.
In addition, Thailand's economic problems at that time were very serious, and the country's financial supervision was very low, which made foreign capital see the shortcomings.
As the market continues to expand and the economy becomes irrational, the State Bank of Thailand has invested a lot of money in hot industries in order to obtain high income in a short period of time, and this action has led to a very prosperous Thai economy.
«——【·遭殃的泰铢·】——»
Thailand's external debt reached $90 billion in 1996, far exceeding its foreign exchange reserves. Even if Soros doesn't come up with this, Thailand's financial system is on the verge of crisis.
Soros also seized on this characteristic of Thailand to suppress, and once the contradiction was triggered, the Thai government could not repay the loans to other countries in a short time, which made Soros take advantage of the loophole. He used a simple and crude method to blow up Thailand's financial system, that is, to short the Thai baht, and then Soros relied on the image of a financial tycoon to release the news that the Thai baht was about to depreciate.
Because of its reputation and prestige in the world, a large number of financial investors have sold off, and the form of crisis continues to ferment. Soros first borrowed a large amount of Thai baht from Thai banks as collateral against US dollars.
After Soros accumulated a large amount of Thai baht in his hand, he began to sell it to the market, and the Thai government could only consume foreign exchange reserves to buy back a large amount of Thai baht in Soros's pocket in order to prevent the depreciation of the Thai baht.
However, the Thai government has too few foreign exchange reserves in its hands, and after depleting the dollars in its hands, it is powerless and has to abandon the fixed exchange rate of the Thai baht, which has caused the depreciation of the Thai baht.
After the depreciation, the Thai baht was sold by the holders in large quantities, and at this time, Soros bought the already very cheap Thai baht, and for a time millions of people lost their jobs, the company faced bankruptcy, and the whole society fell into depression.
It can be said that he was the initiator of the entire Southeast Asian crisis, and he also received $1 million in this financial crisis, but Soros's attack on the Southeast Asian financial system can only be regarded as a small rehearsal.
«——【Hong Kong financial crisis, defense is imminent·】——»
After winning the victory, Soros set the target of the decisive battle in Hong Kong. Hong Kong has a developed economy, is one of the four Asian tigers, although it is only a city, but it has abundant foreign exchange reserves, if Soros can succeed in Hong Kong, it can earn more than ten times the profit of Thailand.
But what he didn't expect was that his company's top executives strongly opposed Soros's plan, who believed that Hong Kong's financial regulation was much better than Thailand's, and that the financial market was relatively stable.
In addition, after Hong Kong's return to the motherland, the mainland government issued a news release, saying that if Hong Kong is in need, the national government will do everything to defend Hong Kong, and will do whatever it takes. But apparently Soros didn't care.
Because Soros shorted the Thai baht and made his reputation in Southeast Asia, coupled with his previous achievements, it has attracted more international investors to join it, and he has since said that he has found Hong Kong's soft underbelly.
At that time, Hong Kong's foreign exchange reserves were 100 billion US dollars, ranking third in the world, and Soros also knew that it would definitely not work to use Thailand's trick again, and Hong Kong was ready to meet Soros after he entered Hong Kong.
He took advantage of the Southeast Asian crisis when Hong Kong's Hang Seng Index soared, the stock market rose high, and it was difficult for ordinary investors to enter, so Soros dismantled Hong Kong investment, let investors denature, and the government raised interest rates to make the stock price fall.
This method really worked in Hong Kong, allowing Soros to succeed in a very short period of time, and after the stock market fell, investors were afraid that the stock would be smashed into their hands, and for a time people sold a large number of Hong Kong dollars.
The Hong Kong dollar exchange rate fell sharply, and one dollar at that time could be worth 7.75 Hong Kong dollars, and after this news was released, the Hong Kong financial market caused a panic, and there was a lot of noise for a while, but the Hong Kong government knew at that time that this was a means of Soros.
So the Hong Kong Financial Supervision Department immediately attacked and used foreign exchange reserves to pull up the exchange rate of the Hong Kong dollar, stabilize the mentality of shareholders, and restore confidence, but Soros did not give up, but wanted to enter the Hong Kong market again.
In the face of the fact that he bought a large amount of Hong Kong dollars and then sold them quickly, causing the exchange rate of the Hong Kong dollar to fall again, the Hong Kong regulators tried to stabilize the Hong Kong stock price in full, which stabilized the confidence of investors.
At this time, Soros was shocked, so he could only suspend the offensive and consider the next plan, and for a period of time, Soros dialect said that Hong Kong's stock market was the safest in the world, and the Hong Kong stock market increased sharply for a while.
«——[The mainland helps, Soros loses]——»
In 1998, Soros Bridge launched an opportune impact on Hong Kong's financial market to re-implement its investment plan, resulting in a shrinking of Hong Kong's wealth, a serious decline in the real estate market, and a huge impact on many financial institutions.
Many companies have laid off employees, unemployment has risen sharply, social unrest has spread in Hong Kong, and Soros has seen the opportunity to sell more than 20 billion Hong Kong dollars for a while, and Hong Kong has reached the edge of a cliff.
Hong Kong alone is not enough, the mainland and Hong Kong have joined forces, and the government has ordered all mainland institutions to provide full support to Hong Kong, which means that Soros is a company against a country.
In the end, Hong Kong returned to stability, and the motherland also provided 140 billion yuan of economic aid to Hong Kong to help Hong Kong recover from its economic difficulties and alleviate Hong Kong's external economic fluctuations.
«——【·Epilogue·】——»
Instead of benefiting from the "crisis" created by Soros, the mainland government and Hong Kong have strengthened economic cooperation and ties between the mainland government and Hong Kong, promoting economic complementarity between the two sides.
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Resources:
1. Soros vainly tries to "short" Hong Kong, and will definitely play with fire and self-immolation.Xinmin Evening News. [2019-09-18]
2. Deal of the Century: Soros KO Bank of England. China Daily Chinese Net Economy. [2023-11-21].
3.40 years and 40 moments|Hong Kong financial defense war: Hong Kong government vs. Soros. China Economic Weekly. [2023-12-08].