"Chairman, as you expected, someone has already started to attack Thailand!" Thais would not know that in Yuzhang City, which is thousands of kilometers away from Thailand, people are always paying attention to the Thai market. A network cable will report the latest situation in Thailand to our boss Jia as soon as possible.

"Specific situation!"

"Yes, starting at 9:00 this morning, the first order worth $400,000 was thrown out, and within an hour, a total order worth $20 million, or 5 billion baht, was thrown out!"

"Now, 12.6 billion baht orders have been sold and all require exchange for US dollars."

"Now the entire Thai trading market is in chaos, and the exchange rate of Thai baht to the US dollar is almost breaking through the 25:1 range!" said Boss Jia's secretary.

"I remember Thailand's exchange rate policy is to lock the US dollar, right?" Boss Jia licked his lips and said, "They will control the exchange rate of the Thai baht to the US dollar within a range of 25:1. Now that the limit is about to be exceeded, the Central Bank of Thailand should take action!"

"Yes, although the speed is slower, the Bank of Thailand has begun to acquire those short orders. It is estimated that soon, the Bank of Thailand will put away all the orders, and the exchange rate of the Thai baht may stabilize again." The secretary said.

"It won't be stable!" Boss Jia touched his nose. "Since Soros has taken action, it's not that easy to end all of this."

"Chairman, do you think Soros is taking action behind this?" As Boss Jia's secretary, his knowledge must be very broad. At least he will not even hear of the name Soros like the Chinese today.

He knew at least that Soros was the capital giant who had forced the pound to collapse.

"Look... we just need to watch the show. I don't think he will jump out by himself in long run!" Boss Jia said with a slight smile.

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On June 12, 1997, this was a thrilling day for people in the entire Thai financial circle.

Because on this day, the exchange rate of the Thai baht has undergone extremely violent changes.

First of all, in the morning, a large number of short orders appeared, causing the Thai baht exchange rate to fall sharply and almost fall to the 26:1 exchange rate.

However, at the critical moment, Thailand's financial management institutions took action in a timely manner, using the reserved US dollars to take these short orders, and pulled the Thai baht exchange rate back to around 25:1, which was considered a successful defense against this wave of offensive.

According to statistics after the closing, in today's day, the Thai baht reached a transaction volume of more than 200 million US dollars, which was equivalent to a weekly transaction, which made all Thai financial people excited.

That's right, these people were still clamoring for pleasure, without expecting that a terrifying crisis was coming.

On the second day, in one day, short orders continued to fall, and the exchange rate of the Thai baht began to decline again.

Of course, Thailand's official once again used reserve funds to start maintaining the exchange rate of the Thai baht. The battle between the two sides, which was invisible to smoke, lasted for another day. On this day, there were as much as 500 million US dollars, or 12.5 billion baht short orders, and the entire Thai financial market was a little dull. Only then did they realize that they had met a vicious opponent!

In the next half month, the Thai market was competing with this mysterious force. A huge short order of more than 1 billion US dollars, or 25 billion baht, was sold every day. Thailand's financial department also accepted all the orders. The competition between the two sides was very fierce, and the funds used had exceeded the level of 10 billion US dollars.

The exchange rate of the Thai baht has been stable between 25:1 and 27:1, constantly declining and pulling back. The entire Thai market has attracted the attention of everyone around the world.

Everyone was curious, who was the winner of this battle?

Is it the bears win or the bulls win?

"Who is this person who shorts Thailand?" All Thai people, even people around the world, were asking curiously, but it didn't take too long to guess because the person who shorts Thailand jumped out by himself.

When the battle was closed on the third day, the Finance Magazine published their exclusive interview with an old man named Soros.

In this interview, Soros talks about Thailand's economic issues.

In his exclusive interview, he said that behind Thailand's high economic growth is the export model of single low-value-added agricultural products and labor-intensive industrial products.

The inflow of international capital also invested in speculative projects such as real estate and stock markets, and did not upgrade in the field of science and technology and production technology. The quality of labor has not improved, and productivity remains low, but economic growth has pushed up wage levels. As labor costs rise, export advantages gradually decline.

Therefore, the economic growth currently achieved by Thailand is not due to the increase in GDP, but due to various foreign exchange speculation, the influx of international hot money, and the pathological development of real estate and stock markets, which ultimately lead to economic growth.

Now, with the recovery of the Western economy, international hot money should gradually leave Thailand. Without the support of these investments, Thailand will be defeated back to its original form, economic growth will be broken in half, or even directly hit negative numbers.

The exchange rate will also fall wildly, and the Thai baht will become worthless.

Finally, Soros suggested to everyone who only had Thai baht to exchange all the baht they had for US dollars so that they could maintain their value.

"It's Soros, it's Soros who shorted us. This bastard actually found us!!" After seeing this report, countless people from the Thai financial industry shouted in fear.

Although Soros's article is about Thailand's economic problems, it seems to have nothing to do with shorting the Thai economy.

But isn’t Soros’s purpose of publishing such an article at this time to disrupt the entire Thai market and make investors in the Thai market lose confidence?

Otherwise, why would he jump out and become a pioneer and take the initiative to look down on the Thai economy? Isn’t this arguing?

What's even more deadly, what Soros said is true. Thailand's economy is simply a bubble, the kind that can burst with just one stab.

In fact, one of the more important purposes of Soros's publication is to show his identity and tell the whole world that it is not someone else who is shorting the Thai baht, but Soros?

Such behavior sounds stupid, and there is also the reason why you take the initiative to reveal your identity when you are in a war.

But in fact, this is Soros' usual routine, because Soros has a huge reputation or a bad reputation in the international financial market.

In fact, most people in the financial industry, especially fund managers like Soros, don’t like to show up in public. They like to hide in the dark. After all, those who are in their industry are too hateful. They will always pull the entire country’s economy into the water and take away all the wealth accumulation of the entire country over ten years. Once their identity is exposed, God knows how many people want to kill them.

But Soros is different. He is a guy who likes to be high-profile and also the guy who likes to be interviewed by the media the most. He even writes his great achievements and heroic deeds in the financial war into a book to publish it.

Especially when he sniped the pound in 1992, the entire pound was eventually reduced by 30%, and all the classic cases of having to decouple from the European Community were also written.

This leads to Soros being hated, but also being a fear trend in the global market and a weather vane for global airdrops.

Because once Soros decides to short which country, the country's economy will most likely collapse, and Soros will make a fortune. These actual cases have made people in many countries frightened on the spot after hearing Soros aimed at him.

More importantly, international capital will flock to Soros, and their original purpose will follow Soros to eat meat and short these economies together, but this also increases Soros' power from the side.

The final result was that when Soros announced that he would short Thailand, the baht had not collapsed yet, but many Thais were already frightened and they had already determined that the baht could not be supported.

International capital, like a shark that smelled blood, began to flock to the country and followed Soros to short Thailand for meat, and even embarrassing many local Thai financial institutions, too, intending to eat the country's blood steamed buns.
Chapter completed!