Hong Kong Movies: You Hongxingzi, what the hell is the charity king?

Chapter 831 "830" Soros's arrogant declaration to the world: Southeast Asia will collapse, and so will Hong Kong!
Following the finance minister's announcement of the decoupling of the Thai baht from the currency peg...

The Thai financial market was directly hit by a magnitude 10 earthquake.

In Bangkok's foreign exchange market, the Thai baht's exchange rate against the US dollar plummeted like a kite with a broken string, falling to a low of 34.6:1 within just a few hours, a depreciation of over 30% in an instant.

The market is in utter despair.

The chaos in the foreign exchange market, like a domino effect, quickly triggered a chain reaction in other financial sectors.

The Thai stock market index plummeted like a free fall, with a large number of stocks being sold off in panic, and many investors watched helplessly as their wealth vanished in an instant.

Those listed companies that had previously performed reasonably well saw their stock prices plummet, and market confidence completely collapsed.

The financial derivatives market descended into chaos, with the value of various products plummeting, the balance sheets of related financial institutions deteriorating rapidly, and many small financial companies going bankrupt instantly.

The news spread like wildfire around the world.

Major economic media outlets around the world reported this event on their front pages.

The New York Times published a prominent article with the headline: "Thailand's Financial Turmoil: Southeast Asian Economic Collapse..."

The Financial Times astutely pointed out: "The decoupling of the Thai baht has already ignited the fuse for the Southeast Asian economic crisis."

In the 80s and 90s,

A large portion of the world's hot money went to Southeast Asia, which has undergone free economic reforms, stimulating the rapid development of the Southeast Asian economy and giving rise to the Four Asian Tigers and Four Asian Dragons.

And now, 'karma' has come.

The economies of Southeast Asian countries are on the verge of collapse.

Investors worldwide with substantial investments in Southeast Asia are gripped by panic, with large amounts of capital fleeing the region and seeking safer havens.

The Philippine peso faced increased pressure in the foreign exchange market, prompting the central bank to hold an emergency meeting to discuss countermeasures. However, they were unable to stem the spread of market panic, and the peso began to fall sharply.

The Malaysian ringgit also suffered attacks from international speculators, forcing the Malaysian government to intervene in the market urgently, injecting a large amount of foreign exchange reserves to stabilize the ringgit's exchange rate, but with little effect.

The Indonesian rupiah was not spared either, with its exchange rate plummeting. Indonesia's domestic financial market descended into chaos, and people rushed to buy necessities, causing inflation expectations to rise sharply.

Thailand experienced the most turmoil, with the Thai baht depreciating by 50% in just a few days, like a runaway horse.

This marked the full-blown outbreak of the Asian financial crisis!
……

……

Hong Kong Island.

Causeway Bay.

Guan Zu held his daughter, looking out the window at the drizzling rain.

Why is it raining so much this month?

Guan Zu was speechless for a moment.

It was exactly 7 a.m., the morning news time, and the host's serious voice instantly filled the room:

"Yesterday, the Hang Seng Index rose again, reaching 16021 points..."

"While stock markets in Singapore, Thailand, Malaysia, Indonesia, and other countries have collapsed, Hong Kong Island's stock market continues to rise, demonstrating that Hong Kong residents are full of confidence in the future since the handover..."

Guan Zu watched the news.

The stock market is rising.

Without a doubt, it's Soros who's behind this.

They need to continue driving up the share price of Hong Kong Island stocks.

Then, profits are made by dumping shares (profit from selling stocks at high prices + profit from short positions + profit from other derivative products).

By the way, short selling is allowed on the Hong Kong stock market.

After a few more news reports were broadcast,

"...Next, please pay attention to weather warnings. The Hong Kong Observatory has just issued a message that Tropical Cyclone 'Siti' has formed in the Northwest Pacific Ocean and is currently moving northwest at a speed of 15 kilometers per hour. The maximum wind force near the center has reached level 12."

"According to the track forecast, Typhoon Siti will approach Hong Kong around July 10, which may trigger Typhoon Signal No. 7..."

Guan Zu frowned, picked up his daughter, and sat down on the sofa.

On the television screen, Typhoon Sitti in the satellite cloud image looked like a swirling gray-white cotton candy, with the spiral cloud bands at the edges already showing a menacing appearance.

"Typhoon Signal No. 9?"

"The rain hasn't stopped yet, and now a typhoon is coming..."

In the news, meteorological experts are analyzing the typhoon's path:

"This No. 9 typhoon signal is quite strong, and the accompanying strong winds may last for more than 12 hours. It is also expected to bring heavy rainfall, with accumulated rainfall potentially exceeding 300 millimeters within 24 hours..."

A satellite cloud image is displayed on the screen, and the weather presenter circles the typhoon's core area in red:
"Due to the heavy rainfall, severe flooding is highly likely in low-lying areas. The Observatory would like to remind the public to move their vehicles to higher ground in advance and avoid parking in underground garages, coastal roads, and streets with poor drainage..."

"Check the airtightness of doors and windows at home, store sufficient drinking water and emergency lighting equipment, clear clutter from balconies and rooftop drains, and prepare for waterproofing and disaster prevention..."

"The Home Affairs Department has opened several temporary shelters. Citizens living in shantytowns or dilapidated buildings can pay attention to the relevant addresses and evacuate in time if necessary..."

Guan Zu looked outside.
The clouds in the sky, while not exactly "dark clouds pressing down on the city, threatening to crush it," were still rather gloomy and overcast.

"Wow~~~"

The rain keeps falling...

……

……

Meanwhile, thousands of miles away in New York, the sun was shining brightly.

Unlike the tense and chaotic atmosphere in Bangkok, thousands of miles away, the entire Soros Fund Management Company was filled with an irrepressible sense of joy.

In each office, the tension of the past had vanished, and every employee's face was relaxed and beaming with smiles. Even the sound of the printers spitting out documents seemed to carry a hint of joy.

The decoupling of the Thai baht means that their months of planning have finally yielded results.

At 3 p.m., the Soros Fund Management Company's press conference began on time.

George Soros walked slowly onto the stage, his sharp suit accentuating his tall and imposing figure, and a broad smile always playing on his lips.

Facing a dense array of microphones and cameras from reporters from major media outlets around the world, he showed no sign of nervousness, but rather confidence and composure.

"Reddy, see you..."

Soros's voice was calm yet carried an undeniable confidence.
"During this period, the Quantum Fund has once again accomplished a remarkable feat – successfully shorting the Thai baht after attacking the British pound."

He paused, his gaze sweeping across the room, a hint of barely perceptible arrogance creeping into his tone.

“Back in February this year, when the Quantum Fund began shorting the Thai baht, it clearly signaled that the baht was severely overvalued.”

The reporters below the stage all bowed their heads to take notes, their pens scratching across their notebooks.

“I said at the time that the fixed exchange rate system was no longer suitable for Thailand’s current economic situation,”

Soros spread his hands.
"If the Thai government had been willing to trust the market's judgment, and if it had been willing to trust my judgment, and had decisively abandoned the fixed exchange rate, their foreign exchange reserves would not have been depleted so quickly, and the people would not have had to suffer the pain they are in now. Unfortunately, they chose to resist."

As soon as he finished speaking, the entire room suddenly burst into laughter.

The reporters' laughter contained no sympathy for Thailand, but rather a hint of admiration for Soros's "arrogance"—in the United States, the arrogance of the victor is never criticized, but rather seen as proof of strength.

Soros: "When the foundation of an economy is already shaken, but it is still forced to maintain superficial stability through harsh means, the result will only be disaster."

"And now the results tell us that when death finally came, it brought disaster to Thailand, beyond what was expected."

"If we went back to February, I wonder if Thailand would have listened to my advice." (ps: This is a real interview.)
arrogant!

That's incredibly arrogant!

At this point, Soros was brimming with confidence and actually thought he could get a country to listen to the advice of a businessman.

How arrogant!

However, the international journalists in the audience were all excited.

"Splash splash ...

The audience erupted in enthusiastic applause.

"but……"

Soros hadn't finished speaking when
The entire room fell silent once again.

"Thailand has already decoupled the baht from its currency, which is a very rational step. As long as they can let go of their attachment to past policies, fully open their financial markets, and allow capital to flow freely; as long as they are willing to accept the conditions for assistance from the International Monetary Fund; and as long as they stop interfering with market mechanisms through administrative means..."

"As long as these things are done, Thailand will definitely be able to recover..."

Soros stood on the stage, as if the future of Thailand's economy had already been framed and placed on a predetermined track by his words.

As soon as he finished speaking, thunderous applause erupted once again throughout the hall.

Soros successfully displayed his unparalleled confidence and charisma in front of the media.

It's estimated that Soros will be the most prominent figure in tomorrow's global newspapers.

Thailand, on the other hand, not only lost countless sums of money, but also became a stepping stone for Soros.

Next, it will be time for reporters to ask questions.

Reporter A: "Mr. Soros, I wonder how much money the Quantum Fund can make in Thailand?"

Soros: "Although it hasn't been fully liquidated yet, $50 billion is no problem."

The entire audience gasped.

Reporter B: "Mr. Soros, will you continue to attack other Southeast Asian countries?"

Soros: "That's right."

His attitude remained extremely arrogant: "These countries have seen their economies take off thanks to the financial support from the United States and Europe, and now it's their turn to pay back..."

Reporter C: "It seems Mr. Soros is very confident... Mr. Soros must know that on July 1st, one of the world's financial centers, Hong Kong Island will be returned to China. Will Mr. Soros attack Hong Kong Island?"

Soros hesitated for a moment, but finally said in an arrogant manner:

"Yes, it will be my target for conquest."

"In my eyes, Hong Kong's existing financial system is riddled with loopholes, and I have complete confidence in it!"

2 hours later,

The press conference is over.

The reporters dispersed, and the news would soon spread throughout the world.

Meanwhile, a reporter from KTV on the West Coast also boarded a plane to send the recording back to San Francisco. Soon after, the recording would be broadcast on KTV, and copies would be sent to Hong Kong Island.

of course,

The materials from this interview will also be sent to countries such as Thailand, Singapore, Malaysia, Indonesia, and the Philippines.

These countries must be furious!
As for Hong Kong Island...

(End of this chapter)