"Governor, what should we do? There are rumors that we do not have enough funds today."
Bassoon is also worried. This time, it's not a rumor. They really do not have enough funds.
Last year, Thailand's foreign reserves were around 30 billion USD. But this year, due to the trade deficit, their USD reserves are only around 20 billion USD. They had used a lot of their reserves in the past, and their reserves are almost depleted.
Bassoon realized that he had underestimated Soros and those international speculators. This time, it's not only Soros's Quantum Fund. There must be someone else involved.
Bassoon had thought of a stalemate with those international speculators and drag them down. But now, it seems that the Thai Government is going to be dragged down.
At this moment, Ong suddenly thought of a good idea. You all are always spreading fake news, right? I can do it too.
… …
Huh? How is this possible?
Feng Yu is watching Thailand's news on TV. Bassoon told the reporters that they had converted all their Yen and Deutsche Marks into USD, and with their reserves, they still have 30 billion USD. They will surely win, and it will be a crushing victory!
"Brother Feng, does Thailand still have Yen and Deutsche Mark reserves?" Fu Guangzheng asked worriedly.
"Of course they do. Their reserves are mainly in these three currencies. But according to their basket of currencies, their Yen reserves will not exceed 15%, and their Deutsche Mark reserves will not exceed 10%. Even these figures are overestimating them."
"That means this is fake news?" Fu Guangzheng's eyes brighten up. It's a false alarm.
"It can't be any more fake. They had used up all their Yen and Deutsche Mark. Yesterday, they used Yen to push up Thai Baht, and this morning, they used Deutsche Mark. He still wants to buy Thai Baht with USD? I wonder how that Bassoon managed to become the Central Bank Governor. "
As long as you have money to buy Thai Baht, Thai Baht's exchange rate will rise, regardless if you are using USD or Yen. The person who wrote this speech for Bassoon is also a financial idiot!
"Then how much foreign reserves do you think they have?" Fu Guangzheng asked.
"Not more than 5 billion USD, and they will run out of money by tomorrow!" Today's attack will reveal Thailand's last resort tomorrow.
"That means the outcome will be decided tomorrow?" Fu Guangzheng is overjoyed. Thailand will win so easily? That means the money he invested in Wind & Rain Consulting will also make money?
Feng Yu rolled his eyes at Fu Guangzheng: "Didn't I tell you what will you do if your funds are in trouble?"
"You are saying they will ask for help or borrow money from others? Do you know which country it is? "Fu Guangzheng remembered Feng Yu had told him about this.
"It is most likely to be Singapore, followed by Japan and Indonesia, followed by Malaysia and Taiwan. But no matter which country is willing to lend Thailand a lot of money, it should be around 10 billion USD. Those countries do not have enough foreign reserves. Those countries do not have enough foreign reserves. and will be our next target!!
Those countries do not have a lot of foreign reserves, and if they dare to lend money to Thailand, they will be digging their own graves. The money they lend will not help Thailand and will worsen their country's financial crisis. Whichever country dares to lend money to Thailand is stupid!
Anyway, Feng Yu had told Iron-fist Zhu about this, and no matter what, Hua Xia will not lend money to any Southeast Asian country. At least not for the next two years.
"Then, can Soros predict this?" Fu Guangzheng asked nervously.
Feng Yu slapped his forehead. Oh please. That's Soros, the world's best hedge fund manager. How can he not predict this?
Even if Soros is drunk and is out of his mind, his four fund managers will also be able to predict this. There are also other brokers, and there must be elites among them.
How dare you doubt Soros with your financial skills?!
"Don't think others are on the same level as you, ok? Do you think Professor Liang will not think of this? Do you think your eldest uncle will not think of this? You can go and ask those brokers in the main office. Which one of them will not think of this? If there is anyone who thinks of this, then tell me. I will pay him his salary and let him go home! "Feng Yu said helplessly.
Fu Guangzheng smiled embarrassedly. "I am just asking. Err … I shall not disturb your work. I will go to the trading company to take a look."
… …
Bassoon knew Soros and his men do not have enough funds, and he had released fake news to scare them off. But it was useless. But to a certain extent, the amount of funds escaping to Thailand had decreased, and the stock market's decline slowed down.
But this is not enough. The stock market's decline had slowed down, but it is still falling. Even if the amount of funds escaping to Thailand is reduced, there will still be funds escaping to Thailand. Also, those international speculators did not stop, and Thai Baht is still being dumped. If there are no more funds in the next two days, Thailand will be finished.
Bassoon had no choice but to go to the Prime Minister for help. He hopes the Prime Minister can use Thailand's name to ask for help from other countries or lend them a sum of money to push up Thai Baht.
Chavalit was still confident because the news had reported this to him. But when Bassoon came to report to him, he realized Thailand is out of funds!
Chavalit is a General and does not know much about politics, let alone economics. The news had tricked many Thais, and Chavalit is one of them.
"You are saying that if we cannot borrow money tomorrow, we might not be able to hold on?"
"Yes."
Chavalit almost took out his gun to shoot this damn Bank Governor! F * * k, you are only telling me this now?! Even if I can borrow money in one day, I will also have to pay a high price.
But if we don't borrow money, our losses will be higher. Bassoon had told Chavalit that once Thailand's exchange rates plummet, Thailand's economy will collapse, and there will be inflation in Thailand. Just the foreign debts alone will crush Thailand!
"You must try your best to hold on. I will go and borrow money. If you tell me it is too late before I get the money, I will shoot you! "Chavalit roared. This is the style of a warlord.
Bassoon returned to Thailand and asked some experienced people to help him. He even invited some financial experts from the private sector to discuss how to deal with Thailand.
When both parties are about the same level, stratagems can play an important role. But when one side had an overwhelming advantage, the only effect that a strategy could play was to delay the time of failure.
Soros held a glass of champagne and sipped on it. Is your Thai Government out of funds?
Haha … we still have money!
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