The Son of Finance of the Great Age Chapter 239

  Chapter 239 Vilawang resigns

  Zhong Shi looked around and took in everyone's expressions. He didn't explain, but just waited patiently, waiting for them to understand.

  After half a day, Ma Jiarui was the first to speak, saying: "It is not impossible to increase the leverage. However, this may violate the operating principles we have always adhered to."

At the beginning of the establishment of Tianyu Fund, Zhongshi set them two basic principles. The first is not to use excessive leverage. Even if you use highly leveraged investment tools such as futures and options, you must reserve sufficient preparations Second, it is strictly forbidden to disclose the operating conditions including positions to the outside world.

  The current capital scale of Tianyu Fund is about 5.5 billion U.S. dollars, of which 5 billion U.S. dollars are under the control of Zhongshi, and several other fund managers and senior traders share the remaining 500 million U.S. dollars.

  Most of the five billion dollars is now invested in U.S. treasury bonds, and the rest of the funds are invested in high-yield Russian government bonds. However, Zhongshi has withdrawn from Russia some time ago, and there is currently no investment target for these funds.

  If Zhongshi wants to increase leverage, it is naturally an easy task. Not only him, but even other managers of Tianyu Fund will receive invitations from the brokerage channel every once in a while, either to promote new stocks or new products, and many financial products contain high leverage.

  Zhong Shi shook his head, denying Ma Jiarui's idea.

   "Do you want to join forces with American capital?" Zhong Shi has made it very clear before that they will be the ones who will finally defeat the BOT, instead of sitting on the mountain and watching the tigers fight. After negating high leverage, what other people can think of is to join hands with other capital.

However, this kind of joint action has almost never happened before. Even when there is a large-scale impact on the European exchange rate system, various capitals only swarmed up according to the wind and trends of the market, and then smashed the pound. There should be no private Li planned. Otherwise, whether it is the British government or the US government, they will definitely suppress this kind of capital alliance.

Half a day later, before guessing the reason correctly, Zhong Shi couldn't help frowning, and said loudly: "Haven't you ever thought that the foreign exchange reserves announced by BOT is a cover? They don't have that much foreign exchange reserves at all! "

  Since the remark was made, everyone except Andrew was shocked. How could they think that the central bank of a country would blatantly lie. However, those researchers who grew up in Hong Kong were only surprised for a moment, and then began to think about the possibility that Zhong Shi said. After all, they grew up in the East Asian cultural circle, so they are not surprised by such things.

  The researchers from Europe and the United States behaved rather strangely. They couldn't believe it anyway. What Zhong Shi said was true. But if this is not the case, why should Zhong Shi insist on selling it?

  On the one hand, there is a culture of honesty deeply rooted in their minds, and on the other hand, the investment performance that comes from Zhongshi's gods. The two are repeatedly fighting in their hearts. For a while, they don't know who to choose to believe.

   At this time, a voice suddenly came, "The Minister of Finance of Thailand announced his resignation, just today."

This cry suddenly woke up the traders who were in deep thought. Although they didn't understand why Thailand's finance minister announced his resignation at this time, everyone knew that this must mean that the market would have unusual fluctuations. They looked at Zhongshi His eyes also became dodgy.

   "It seems that we are going to speed up the short selling of Thai baht!" Zhong Shi's first reaction to the news was also stunned, and then he realized that the Thai government had already responded. In the previous life, the Minister of Finance named Villawang did not announce his resignation until June 19th, but now it is nine days earlier, which fully shows that their finances are tight due to the intervention of the Tianyu Fund, and the Thai government has begun to look for a scapegoat impatiently. .

After this idea turned in Zhong Shi's mind for a few times, he came back to his senses and shouted: "Guys, it seems that we are going to start selling Thai baht in an all-round way. Starting today, as long as it is not less than 26 baht to 1 dollar level, we will sell them as much as they want.”

  Three hours ago, in the Prime Minister's Office of Thailand, Verawang faced Prime Minister Chavalit and was reporting the current economic situation in Thailand.

   What surprised Vilawang was that Chavalit didn't seem to care what he was saying, and said almost nothing during the whole report, just smoking cigarettes one after another.

At present, the domestic economic situation in Thailand can be regarded as a mess. The stock market has plummeted, and a large number of new houses have been neglected. In addition, the proud export has continued to slow down. Compared with the same period last year, it has not increased, but has declined. . In terms of foreign capital, there has been a reverse flow for one consecutive quarter. There are signs that Thailand's economic growth is in serious trouble.

  The most terrible thing is that a large number of financial institutions have become insolvent. The regulatory authorities have implemented technical bankruptcy measures for some financial institutions, forcing them to come up with asset restructuring plans as soon as possible.

   Maybe this is what Chavalit is most worried about? Villawang thought silently in his heart.

  Although he is in charge of the Ministry of Finance, Verawang is no stranger to what happened in the foreign exchange market some time ago. He has also stated several times in public that he will never devalue the Thai baht. Although the attack from international hot money has been repelled in stages, Villawang believes that the situation facing the foreign exchange market is not too optimistic.

  During this period, he and his staff are preparing a large-scale economic stimulus plan, which will include large-scale implementation of infrastructure construction, tax cuts for small and medium-sized enterprises, and government spending cuts. He calculated that after the completion of this report, he would report it to the Prime Minister, hoping that it could be implemented as soon as possible, so that the Thai economy, which is currently struggling internally and externally, can get out of the recession as soon as possible.

  Unable to implement monetary policy, we can only hope for a proactive fiscal policy. Vilawang sighed, and when he was about to report the recent preparation work to Chavalit, he saw that Chavalit, who hadn't expressed his opinion for a long time, finally spoke: "An Lei, I have wronged you."

   "..." Vilawang was confused for a while, not understanding why Chavalit would say this at this time. But after a while, he figured it out, Mr. Prime Minister, this is an affirmation of his hard work during this time. Thinking of this, he couldn't help but the circles of his eyes turned red, and he almost shed tears.

  Yes, during this period of time, not only he personally, but also the entire cabinet government is under tremendous pressure. The more democratically elected the government, the greater the pressure it bears, especially under the premise that the previous government achieved a sustained high-growth economic miracle.

   He obviously misunderstood Chavalit. The Prime Minister on the opposite side was also taken aback for a moment, thinking that Verawang was still in love, his face immediately darkened, and he said with some displeasure: "Why, don't you still have any nostalgia?"

  Vilawang was stunned for a moment, not understanding what Chavalit meant at all. He raised his head and looked at Chavalit blankly, waiting for Mr. Prime Minister's next words.

"If you want to talk about your work performance, it is not an exaggeration to use a big disappointment." Chavali's cold voice echoed in his ears, "When you first took office, I think you are a scholar, and you are also a member of our party. That's why you got into my cabinet. Who knew that you were a piece of mud that couldn't support the wall, not only messing up the good economic situation, but also attracting the continuous attacks of international hot money on the Thai baht. In the final analysis, it's all about your ability, which led to today's dilemma. If it wasn't for your contribution, I wouldn't have asked you to resign, but had chosen to fire you."

"What? Ask me to resign voluntarily?" Verawang's expression changed. He never thought that Chavali asked him to come to let him go. He was ambitious and prepared to do something big. A basin of cold water was poured on his head, making him feel as if he had fallen into an ice cave.

   "This is not a matter of responsibility, it is political prevarication. Specifically, it is looking for a scapegoat. Unfortunately, I became a victim." Villawang quickly understood. He was not a stupid person in the first place, otherwise he would not have sat in this position.

  When he thought of this, he no longer fell into an ice cave, but was trembling with anger, and his palms were unconsciously clenched.

  For such an excited reaction, Chavalit naturally saw it in his eyes. He was not worried about Vilawang's excessive behavior, after all, this is the Prime Minister's office. After putting out the cigarette in his hand, he stood up and said lightly: "That's it, let's announce it to the public as soon as possible. I still have a meeting..."

   While speaking, he walked out, not even giving Verawang a chance to say a word. Obviously, Villawang's abandonment is inevitable.

Villawang, who was left alone in the office, felt ashamed. How could he have imagined that Chavalit, who had been amicably discussing the current domestic economic situation with him a few days ago, would abandon him so quickly and make him bear the burden? crimes against the current situation.

But after thinking about it, he came to a little understanding. The only ones he could abandon in front of him were him and the president of BOT, and BOT had just announced that it had successfully defended the Thai baht. Obviously, it was impossible to abandon him at this time, so he was the only choice. .

  Politics is really...

  Villawang couldn't think about it anymore.

  Three hours later, Thailand's Ministry of Finance held an emergency press conference. Finance Minister Verawang, who had been without any sign before, announced his resignation at the press conference.

  As soon as the news came out, it immediately shocked all parties. Fortunately, this news was released after the market was closed, otherwise it would definitely cause violent fluctuations in the market. But it's clear to almost everyone that the market will inevitably react to that tomorrow. As for the content of the reaction, it is naturally in a bad direction.

  For foreign investors, what they think more is, is the Thai baht really okay? After all, the finance minister has repeatedly claimed to defend the value of the Thai baht.

   Thai baht, did you really hold it?

   Thank you very much for another reward that made me think about it!

  (end of this chapter)

Chapter end