Chapter 1

October 23, 1996,

Wall Street, Quantum Fund Headquarters—

In the president's office, Soros, who is known as the "financial tycoon", is analyzing the report at hand with a serious expression.

Standing in front of him were two loyal subordinates, one named Pete and the other named George.

After reading the report, Soros frowned, stroked his golden hair with his hands, and then leaned against the boss's chair and stared at Pitt and George with his green eyes.

Pete and George felt like they were staring at the evil wolf in the forest, and they didn't dare to face Soros, so they turned away and lowered their heads.

Soros looked at them and said nothing.

The office seemed very silent and weird.

At this time, Soros moved. He pulled out a large cigar from the cigar box, and then easily cut off the head of the cigar with a small guillotine placed on the table...

Peter was a little more alert, and when he saw this, he hurriedly took out the lighter and came over.

George was slowing down, a little annoyed.

Soros bit the big cigar and lit it in front of the lighter.

The swaying, mellow cigar smoke instantly filled the office. "Do you know, dear Pete, why are Cuban cigars the best?" Soros asked suddenly.

Pete was stunned for a moment and said quickly: "Because Cuban cigars are produced in good places and have good craftsmanship."

"Yes, I heard that the cigars there were cigarettes that made many beautiful women of sixteen or seventeen..." George hurriedly flattered.

But before he could finish his words, Soros shook his head and interrupted him, saying, "You are all legends, stories compiled by boring people - tell you that there is only one reason why Cuban cigars are easy to smoke, because they are very expensive."

Pete and George: “…”

Look at me, I look at you.

This answer is too simple.

"Many things in this world need to be measured by money. In many people's perception, the most expensive ones are the best, so French wine and Cuban cigars are so famous; but is that true?" Soros asked with a smile.

Pete and George remained silent.

Soros sat on the boss's chair with his legs raised, holding a large cigar in his left hand, and tapped the report on the table with his finger, saying, "In fact, Thai cigars are very good and tastes very good as Cuba, but why don't we Americans like to suck?"

"The reason is very simple, because Thai cigars are too cheap - in the eyes of our noble Americans, cheap things are inferior products, so Thai cigars can only be popular in Chinatown in the United States, Thai streets, but they will not appear in high-quality places like Wall Street."

"But now, I am going to make a great reform to make the price of high-quality Thai cigars rise, even more expensive than Cuban cigars... What do you think should I do?" Soros asked with a smile.

Pete replied: "It's very simple, raise prices in Thailand!"

George replied: "Short the Thai baht!"

"YES!" Soros slapped the table and stood up with a smile, "After reading this report, I had the same impulse as you."

"Thailand is really the best place in Asia, with beautiful Pattaya, coconuts, beaches, and cigars... Of course, the most important thing is the Thai baht, which has always been linked to our US dollar!"

"Now the overall bubble of Thailand's economy is serious, like a beautiful colorful soap bubble. We just waited for the tip of the needle to pierce this beautiful bubble - then, dear friends, I think it's time to start, because I have heard the sound of the US dollar summoning us!" Soros laughed.

...

To be honest, Soros has never been so happy since he was defeated in Hong Kong last time.

The last time Soros lost to Song Zhichao, he almost lost his confidence.

As an international player and an international financial speculator, confidence is the most important weapon. If he loses confidence, Soros will become a toothless tiger.

But now, Song Zhichao offended the Kang family in Hong Kong and was driven out of Hong Kong. Now he doesn't know where he is.

Soros, on the other hand, wants to attack Thailand in large quantities and use shorting of the Thai baht to set off an unprecedented financial storm.

Soros must use this battle to regain confidence in losing; and Soros has a bold plan. If possible, he will fight back to Hong Kong again after defeating Thailand and get everything he owns.

"Song Zhichao, wait! I will crush you Asians and you Chinese monkeys to pieces!" Soros bit the cigar and sweared secretly.

I don't know when it was cloudy outside the window.

A thunderbolt illuminated the office and also reflected Soros' eyes-

Shady, cold!

...

In fact, sniping the Thai baht was planned by Soros for a long time. Soros judged early on that Thailand's economic development was overheated, there was a serious asset bubble, and asset prices were seriously overvalued, including the Thai exchange rate. In addition, Thailand's financial controls are the most relaxed among Southeast Asian countries. If sniping the Thai baht, the obstacles will be the smallest.

On October 22, 1996, the sniper operation began-

Soros first borrowed tens of billions of baht from the Thai bank. Then Soros converted these baht into US dollars, and these dollars remained unchanged. Because since 1984, the Thai baht has maintained a fixed exchange rate of 25:1, and there is no depreciation or appreciation problem. If Soros wants to make money by short selling, he must turn Thailand's fixed exchange rate into a floating exchange rate and depreciate the baht.

After Soros lent the money, he sold it all, bought US dollars from the Thai government in batches, constantly borrowed Thai baht and sold Thai baht, and repeatedly operated...

For a time, banks and the market were selling the Thai baht, and panic spread, so the herd effect appeared. Institutions and individuals holding the Thai baht in the market began to sell frantically, and the Thai baht continued to depreciate.

In addition to selling the Thai baht, Soros also sold the shares of Thai banks and financial companies, sold Thai baht futures and forward foreign exchange positions, and launched large-scale shorting actions in the market.

Soros acted quickly and his fierce tricks caught Thailand off guard. After the Thai government reacted, it devoted its efforts to launch a counter-encirclement and suppression against Soros—

1. Thailand took out US$5 billion in foreign exchange reserves and formed a "coalition" with Singapore, mobilizing a total of about US$12 billion in huge capital to buy Thai baht;

2. Directly use administrative orders to strictly prohibit local banks from lending Thai baht to Soros' army;

3. Rapidly raise interest rates, and the overnight interest rate will rise from the original 1% to 100% to 150%, which means you will borrow 100, and you will have to pay back 200 or even 250, which will greatly increase the borrowing cost.

??The Bank of Thailand's three-pronged approach quickly stabilized the Thai baht exchange rate and the situation was temporarily controlled.

Soros failed to succeed in this battle and lost $300 million.
Chapter completed!