In early August, Malaysia gave up defending Ringgit, and Ringgit fell by almost 30% within a few days. And this time, the Xin New Dollar, which had always been strong, was also greatly affected and inevitably fell by 5%!
Soros and the rest were confident to be able to affect SGD. If they can win against this currency system, what's there to worry about?
Soros and the rest turned to Indonesia, and Indonesia's Rupiah was affected.
Indonesia's government had already prepared for this. For example, they had increased the overnight rates. But these tricks are no longer effective.
"Old He, you can cancel the Thai Baht contracts now." Feng Yu smiled.
Currently, Thai Baht had fallen to 40: 1 against USD, and Feng Yu bought his Baht contracts at 25: 1. During this period, he bought some more, and the leverage was from 10 to 15 times.
Thailand's stock index futures contracts had been canceled, and Thailand's stock index had fallen to around 500. Half a year ago, Thailand's stock index was still above 1,300!
He Zhaoji and his men started to cancel the Thai Baht contracts. This time, their profits are more than double!
In just over three months, the profit was more than double. This was too crazy!
Feng Yu had invested more than 6 billion USD in Thailand. He had invested more than 4 billion USD, Kirilenko had invested about 2 billion USD, and Fu Guangzheng had invested more than 300 million USD.
Feng Yu's 4 billion USD had become more than 12 billion USD, and Kirilenko and Fu Guangzheng had earned more than 2.3 billion USD. Feng Yu still had to pay Feng Yu 30% commission, and Feng Yu had earned more than 1 billion USD.
Just from Thai Baht alone, Feng Yu's profits are almost 10 billion USD!
Feng Yu is sure that Soros's profits are not so high! Although Soros has more funds, his commission should be around 10%. Also, Soros's funds are only around 6 billion USD, and he still needs to invest in a few countries' markets. This time, Soros will only make around 2 billion USD from Thai Baht. He had suffered losses in the past, and he will need to make up for it. That means Soros's profits will only be a few hundred million USD!
Feng Yu couldn't help but feel a little proud when the funds of both parties were pulled closer.
"Send out the order. Everyone will receive a million USD bonus today. Deduct it from my personal funds."
After a while, thunderous cheers came from the main office.
These people hadn't earned much commission in the past few months. It was impossible to say that they didn't have any complaints. However, they were all waiting for the bonus promised by this generous boss.
Today, the bonus had been distributed, and the amount had surprised them.
It was a team of dozens of people, and each person was worth one million USD. How much money did the boss have to make to be so generous?
These were the profits from the Thai market. In a few days, Feng Yu will be collecting the Philippines Pesos and Singapore SGD or Ringgit contracts. He can settle his contracts now.
According to their understanding of the boss, there would definitely be a huge bonus. Even if it is not 1 million USD, it should be at least 5 million HKD.
It was really like what the boss said. This time, the work was very hard, and there were no holidays. But after working for more than a year, they could retire twenty years earlier!
With tens of millions of assets, if they invested conservatively, they could get at least 10% returns every year. That's a few million HKD. Why can't they retire and enjoy their lives?
Many of them were glad that they were recruited by Feng Yu. They had been tested several times before they joined Feng Yu's team. This was one of the best decisions they had made.
If they were still working hard as an ordinary broker, they might be able to earn a few million, but not tens of millions. Let alone the fact that they don't have the chance to manipulate such a large amount of funds, even if they had the chance, they wouldn't dare to do so. If you invest in those tycoons and lose money, you might lose your life if it's a light case!
The funds snowballed, and the currencies of those countries fell more and more miserably.
Now, there was a rumor that the financial crisis in those countries will affect the whole of Asia and even the world.
This rumor had accelerated the fall of Ringgit and other currencies. Feng Yu suspects that Soros was behind this. This was a form of public opinion attack to make those who were trying to pull up Ringgit and other currencies to give up. Instead, they would follow suit and suppress these currencies.
It will surely affect the whole of Southeast Asia, but affecting the whole of Asia and the world is too much. For example, North Korea's economy will not be affected.
But for the rest of the countries in Southeast Asia, Feng Yu and Soros did not attack them. But their economies were also affected.
… …
"Boss, a large number of Thai Baht futures contracts had been canceled, and Baht is rising. Should we also cancel our contracts?" Drucken Miller asked.
Soros was cursing Feng Yu in his heart. This must be Feng Yu's doing. He had canceled his contracts without saying a word!
"Cancel the contracts and invest all our funds into the Indonesia market!"
Soros does not want to be the first to enter the Indonesia market. The first to enter will need to invest the most, but the profits will be lesser.
Everyone is working together to make money, and I can't be the one investing the most while you are the one making the most profits.
Soros called Feng Yu. "Feng, some of my investors want to withdraw their funds. Let's do an exchange in Indonesia. I will suppress the stock market, and you will suppress the Indonesian Rupiah. What do you think?"
Feng Yu agreed. "Sure. But my funds are lesser than you, and I hope you can help me if I cannot suppress the stock market."
Feng Yu had guessed that Soros will not allow Feng Yu to earn less than him, and he had been waiting for Soros to ask.
Feng Yu also wants to see what will happen if he focuses on the Forex market. If not, he still has Fu Rongqi's help. Furthermore, he can use this opportunity to show his weakness and let Soros think that Feng Yu is someone who gets carried away easily.
As expected, Soros sneered when he heard Feng Yu agreed without hesitation. Hmph! This young man is too impatient.
Do you think I am only short selling currencies? The most important thing is my Quantum Fund's brand, and there are many investors following me.
Don't think that I had only used a few billion USD. The effect will be more than 100 billion USD!
Also, I can estimate how much funds you have after you make a move. I will not give up on the Hong Kong market. If I can make some money from Hua Xia, it will be perfect!
… …
"Old He, we will be attacking Indonesia Rupiah this time. You all come up with a strategy for me." Feng Yu is not alone. He also has a team.
Although He Zhaoji was surprised by Feng Yu's decision, he still brought his men to discuss the strategy. The main attack and support attack are different, and they must not let their guards down!
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