1992, New York, New York, the NASA stock exchange.
It fell! It fell!
A young Caucasian man in his forties was waving his fist wildly with an excited expression on his face.
Behind the white man was a young and handsome Chinese man in his early twenties.
Li Yilian looked at the electronic screen in front of him and could not help but smile.
"Good!"
They had started to set up a trap two years ago. Now, it was finally time to reap the harvest.
The exchange rate of the British pound had already begun to plummet.
A large amount of capital poured into Europe, and international capital led by the Quantum Fund was frantically harvesting Great Britain.
The British pound had depreciated, and they were frantically selling the pounds in their hands.
The international speculators, represented by Soros 'Quantum Fund, threw out the chips they had accumulated for several months at the same time. At the same time, they used the human wave tactic to cooperate with the overwhelming momentum of the media!
In addition, many factors contributed to the short-selling of the pound, directly engaging in a hand-to-hand battle with the Bank of England!
The Bank of England did not back down either. It raised interest rates to 15% twice in a day. On the other hand, the Bank of England used 26.9 billion US dollars worth of foreign exchange reserves to buy a large amount of pounds sold by Soros in order to stabilize the exchange rate.
European central banks also joined the battle, injecting tens of billions of pounds to support the pound.
However, this time, Great Britain was destined to fail.
The market's confidence was shaken, and the trend had already been established. The trend of exchange rate movements could not be changed at will. The Bank of England, as the pillar of Britain's protection, not only failed to turn the tide by raising interest rates continuously, but also triggered the market's bearish psychology. The pound simply could not raise its head in response to the massive crash.
The British pound collapsed thousands of miles away, and corpses littered the ground.
Li Yilian had been preparing for this day for two years.
In 1990, he went abroad to study.
After betting on the World Cup and accumulating enough capital, he was finally able to win.
Li Yilian quickly began to prepare to short the pound. Not long ago, the European Community wanted to establish the Eurodollar. The establishment of the Eurodollar was indeed a bumpy road. It was established to challenge the US dollar, and the US would definitely not agree.
Since the European currency system had joined the European currency system, the British pound had to be pegged to the Mark. There was a lower limit, so it could only float within the limit of the exchange rate mechanism.
They were caught in a dilemma. If the pound depreciated, it was very likely that it would exceed the lower limit of the exchange rate. Then, it would leave the European monetary system and declare the failure of the British foreign exchange policy. The government would lose the hearts of the people.
If the British pound did not depreciate, the exchange rate would be overvalued, and the capital would vote with their feet. The foreign exchange reserves would continue to bleed, and the consequences would be very serious.
However, the dilemma of Britain was simply a serious fat meat for Soros and the other financial giants.
This bite directly caused the pound to collapse.
Among them, the size of Soros 'Quantum Fund jumped from 15 billion USD to 19 billion USD. A few months later, it grew to 22 billion USD and earned 7 billion USD. After this battle, Soros became a world-class super-rich man.
The Wall Street market had always been a zero-sum game. Some people made a lot of money, while others made a lot of losses. Soros made a lot of money, and the ones who paid for it were the British tax collectors.
It was estimated that this time, it cost 33 billion pounds of wealth to the British tax-paying public!
All this money was earned by international speculators, mainly the American imperialists.
They weren't optimistic, but for Li Yilian, it was simply too optimistic.
On September 16th, Great Britain withdrew from the European Exchange Rate System, known as Black Wednesday.
Li Yilian immediately sold the pounds in his hand.
For this day, he had waited for two years. It was not until the beginning of this year that he officially began to sell short. For this sale, he had specially hired a large number of financial geniuses and legal geniuses.
If he wanted to reduce his taxes, it would be best if he could bypass many restrictions.
This was America. Once he made a move, he would definitely make a lot of money, but he would also have to face a lot of trouble. He would need lawyers and financial experts.
After an extremely detailed calculation, the two of them were able to make a breakthrough.
Paul Volcker looked at Li Yilian excitedly.""Boss, we've made a lot of money this time. After deducting taxes, our profit is at this number!”
As he spoke, Paul Volcker excitedly gestured a number with his hands.
1.5 billion dollars!
Currently, the exchange rate between China and the United States was 1 US dollar to 8.6187 yuan.
It was close to 12.9 billion yuan.
On the whole, Li Yilian was very satisfied with this figure. After all, Soros had only earned more than 7 billion USD, while he had earned 1.5 billion USD.
It was pretty good.
Although he had accumulated a large amount of capital in his hands, if he did not know the direction of history, how could he compare with Soros?
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