It's good that Fu Rongqi had noticed this, and he is familiar with Hong Kong's financial management department. He can get accurate information about this incident.
Fu Rongqi and Superman Li had suggested to the financial authorities to prevent Thailand's financial crisis from affecting Hong Kong. They had even prepared a comprehensive defense plan.
Feng Yu does not care about Hong Kong. For at least two to three months, Soros will not have the funds to attack Hong Kong. Also, if he attacks Hong Kong, he will be held back. He might not be able to get out of Hong Kong unscathed, and he will miss the opportunity to attack other countries' currencies.
For someone like Soros, making money is his top priority, and he will not miss the opportunity to make money easily. After the attacks on Thailand are over, Soros might be greedy and lead his men to attack Hong Kong and HKD.
There are so many countries, and it will take at least two to three months. That's why Feng Yu is not worried. What Feng Yu needs to do now is to analyze which country's currency will fall the fastest and most heavily. After that, he will short the currency to make more money and compete with Soros.
When attacking Thai Baht, Feng Yu had used his hidden funds to borrow a large number of countries' future contracts. But he did not borrow much from Singapore's SGD.
Singapore's SGD had always been very strong, and it is not much different from HKD. Before Thailand's financial crisis started, Singapore had adjusted its economy, and Singapore's banks have lesser bad debts and bad debts compared to Thailand.
Feng Yu is also ranked among the countries in Southeast Asia. Macau, Singapore, Hong Kong, Japan, Taiwan, and other countries were the hardest to be affected. Thailand, Malaysia, Indonesia, the Philippines, and South Korea were the easiest to be affected. As for China and North Korea, their financial development was slower, and they were the hardest to be affected. Hmmm … North Korea's financial market was the most stable because they did not even have a stock market!
Feng Yu and Soros started to set up SGD's future contracts in the market and sell the borrowed SGD for USD.
After that, they will use USD to buy SGD back and sell it again. This process will impact SGD's exchange rate.
Singapore uses a regulated floating exchange rate system, which makes the SGD more resilient than Thailand. Moreover, the exchange rate of the Xin New Dollar was generally adjusted every three months or so, and the foreign exchange reserves in the basket would be replaced at any time. If they want to adjust the exchange rate, they will adopt the method known as the crawling exchange rate, which is a gradual adjustment to avoid the risk of a large adjustment.
This arrangement ensured excellent flexibility and could, to a certain extent, overcome the impact of external factors and, to a certain extent, avoid inflation.
If it weren't for Singapore increasing their Thai Baht's value by a few billion USD, Soros will not challenge SGD first. He will need to pay a high price.
But Southeast Asia was implicated by Thailand, and this gave Soros and Feng Yu an opportunity.
Soros told Feng Yu that SGD would be severely impacted, and he believed that SGD would drop by more than 20% in a short period of time.
Feng Yu snorted. With Singapore's Forex strategy, I believe SGD will drop by more than 20% at the end of the year. But Soros is lying again.
Soros is planning to use Feng Yu's funds to invest in Singapore's SGD, and after that, he can go to other countries to make money. If Feng Yu made a mistake by shorting SGD, then Feng Yu will suffer heavy losses. This is what Soros wants to see.
Now, Southeast Asia's economic crisis is unavoidable, and Soros no longer needs Feng Yu's help. With the help of the international speculators, his Quantum Fund will surely lead them to crash those countries' Forex systems.
Of course, Soros is not sure if Feng Yu will fall for this strategy. After all, Feng Yu and his team were elites during the Baht gathering event, and their predictions were accurate.
Feng Yu might even get help from Hong Kong's tycoons to get out of this predicament.
But if Feng Yu turns to those tycoons for help, Soros will be more delighted. That way, Hong Kong will be less of a threat, and Soros's resistance will be weaker.
Those Hong Kong tycoons still do not know that Soros had already attacked Hong Kong. But he is not trying to suppress HKD or Hong Kong's shares. He is trying to push up Hong Kong's shares.
When Soros pushes Hong Kong's share prices to a new high, Malaysia, Philippines, and other countries will be in trouble, and he can use this opportunity to attack Hong Kong's financial market.
At that time, the Hang Seng index will crash, and even if HKD stabilizes the exchange rate, Soros will still make high profits. If he can drag Hua Xia down with him, it will be even better.
Hua Xia's financial market had developed very late, and there are not many experts in the financial market. If Soros can enter the financial market, he can make at least a few billion USD, or even more than 10 billion USD.
He can also force Hua Xia's economy into recession, and Hua Xia's economy will enter a freezing point. This way, no other country will be able to threaten the US's position as the world's leader.
This way, every few years, Soros will be able to pick a country's financial market to make profits. His wealth will continue to grow, and he will become a legend among hedge fund managers!
Oh? Feng Yu had started to accumulate SGD, but the amount is not high. Is he testing the waters?
Fine. I will lure him into thinking that I will attack SGD aggressively, and he will follow me to short SGD. When that happens, I will pull myself out of the market and drag him down.
"Boss, Quantum Fund had increased their accumulation of positions. Should we follow up?" He Zhaoji walked over and asked.
"What's your opinion?" Feng Yu asked.
"I think we should not follow up so much. Singapore is using a regulated floating rate system, and we can make some profits. But it will not be a lot. I think Indonesia's market is more vulnerable, and this is the result of our research. "He Zhaoji replied.
"Hahaha … That's right. All of you have the same opinion as me. But we still need to increase our positions, and this way, Soros will increase his position. Add another 10% to short SGD and see if Soros will follow. "
Soros is trying to lure Feng Yu to short SGD, and Feng Yu is also trying to lure Soros. If Soros keeps placing orders, the prices will be averaged, and the profits will be smaller. The risk will be higher. To prevent risks, Soros must invest in the opposite direction, and more funds will be involved.
If Soros can see this, how can I, Feng Yu, not see it? You want to trick me, and I will also trick you.
Although Feng Yu knows Soros and Feng Yu will not suffer any losses from this investment, if he invests in SGD, he will not make any profits from other markets. This is equivalent to a loss.
After Feng Yu added 10% of his funds, Soros also added more contracts. Soros wants to lure Feng Yu further.
But Feng Yu smiled and told He Zhaoji. We will only do this much, and we must invest wisely!
… …
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