Although they still have 13 billion USD left, they can buy 100 billion Thai Baht worth of empty orders. But the higher-ups ordered them to give up on maintaining Thai Baht's interest rate.
It's not that the higher-ups had defected, but they are smart. They know the market's confidence is gone.
Although there are only 100 billion Thai Baht orders, the Thai Government had printed a lot of Thai Baht for profits, and the total amount is about 2 trillion Baht.
The Thai Government had spent all these Thai Baht, and although they had gotten a lot of benefits, the Thai Baht were left in the market.
This is a bubble without the support of the real economy.
Now, it's time for the Thai Baht to explode. Everyone who owns Thai Baht will dump their Thai Baht to stop their losses. Most of the 2 trillion Baht will return to the market, and the remaining 10 billion USD is not enough to buy 2 trillion Baht.
If the Thai Government forces the Thai Baht, there will only be one outcome. The Thai Baht exchange rate will collapse, and the remaining 13 billion USD in the Thai Government's foreign reserves will be gone.
So, the higher-ups ordered them to stop saving Thai Baht. Although this will cause the market to collapse, they can at least save 13 billion USD of foreign reserves. After this crisis passes, Thailand will have the strength to start afresh.
The Thai Government's decision is sound, but all the ordinary citizens are doomed.
June 28th, Thailand officially announced that Thai Baht is no longer pegged to the United States, and they will no longer restrict Thai Baht's exchange rate.
This announcement is the Thai Government's decision to give up on Thai Baht.
Suddenly, Thai Baht plunged from 30: 1 to 72: 1 in one day.
On June 29th, Thai Baht fell to 128: 1.
In the end, all Thai Baht transactions stopped because no one is willing to spend money to buy Thai Baht. Thai Baht's price stopped falling because there are no more transactions.
June 29th is the day many people are lamenting because it's the day many Thai financial institutions settle their accounts.
In other words, all the empty orders from before had to be settled today.
This is also the day Soros, who is leading the international airdrops, will reap the rewards.
Soros had borrowed more than 300 billion Thai Baht from Thailand's financial institutions through various real estate projects and even USD to attack Thailand's economy.
During the early stages of Soros's plan, the 300 billion Baht was bought by the Thai Government's rescue fund at an average ratio of 27: 1. In total, the Thai Government got about 11 billion USD in profits from the market.
On the 29th of June, the Thai Baht exchange rate had fallen to 130: 1. Soros only needs to spend 2.3 billion USD to buy 325 billion Thai Baht on the market and get back his assets from Thailand's financial institutions.
In the end, Soros did not spend a single cent. He only used 300 billion Baht borrowed from others to exchange for 11 billion USD.
Although 2.5 billion USD was returned to financial institutions, the remaining 8.5 billion USD became the profits of Soros and his Quantum Foundation.
This was the way to recover profits through shorting.
Many people know how to make money by shorting because this is the simplest way. Buy at a low price and sell at a high price.
But many people do not know how to make money by shorting, and Soros is the best example.
In the exchange rate market, I will use USD or real assets to exchange for other people's money and then suppress the exchange rate. In the end, I only need to use a low exchange rate to get the same amount of money. After that, I will return the money to the lender. The difference in USD during this period is the profits of shorting.
It's the same in the stock market. Let's use Agricultural Bank as an example. I will borrow 10 million Agricultural Bank shares from financial institutions and agree to return the shares one month later.
I will sell all the shares in the stock market. Assuming each share is worth 1 RMB, I will get 10 million USD.
As long as the share price of Agricultural Bank of China falls to 50 cents per share, then I only need to spend 5 million to buy 10 million shares of Agricultural Bank of China's shares. Then, I can return these 10 million shares to the securities company. At most, I only need to pay a few hundred thousand in interest. Then, I will be able to make a profit of more than 4 million.
All in all, the 18 billion USD that the Thai government used to save the market, as well as the funds used by many small and medium investment institutions and individual investors to speculate in the currency, added up to about 30 billion USD. Just like that, all of it was swallowed up by Soros and the international bears.
They split the 30 billion USD and made a lot of money. But the unlucky ones are the Thai Government and its people.
Thailand had lost more than half of their foreign reserves, and the Thai people are even more pitiful. Their currency had shrunk to 1/16 of its original value in less than a month.
Also, this is not the end. It's only the beginning. Although Soros and the rest had left, Thai Baht will not regain its confidence. Without confidence, Thai Baht will become trash, and the exchange rate will continue to fall. It's normal for it to fall to 200: 1.
In the end, all the Thai people's assets will shrink by more than 8 times, and their GDP will also shrink by 8 times. The Thai people's hard work over the past 20 to 30 years will be snatched away overnight.
Thailand, which had already embarked on the path of becoming a moderately developed country, would once again become a poor country.
That was the truth. After 1997, Thailand's most developed industry changed from manufacturing to service, and it became a tourism industry led by transvestites.
Ordinary people had lost their livelihood, and both men and women can only rely on selling their butts to earn some money from foreigners.
There was a saying that Japan had lost 10 years, but under the manipulation of Soros and the other financial tycoons, Thailand did not lose 10 years. They lost a few generations and the foundation of a country's development.
If Thailand wanted to rise again, it would take at least another 50 years, and in these 50 years, most of the Thai people would have to live in misery, living a life worse than a chicken.
But what about Soros?
He was still a financial tycoon. Many people called him the Godfather, a financial legend, the greatest person in the world, and so on. Anyway, he could wear all kinds of titles on his head, especially the Chinese. He was so popular that he was like a legend.
What they do not know is that because of this financial tycoon, millions of Thai people are living in poverty, and he had robbed them of their lifetime savings.
The number of people who had died directly or indirectly in his hands was as high as thousands. He was a vicious executioner, an opportunist, and the crimes he had committed were enough for him to stay in hell for 10,000 years.
Of course, some people will say this is finance, and there is no right or wrong in it. As long as you participate in the financial game, you will have to bear your own losses.
Since you have chosen to participate in this game, you will have to be prepared to be taken advantage of.
But those Thai people are innocent.
They had never heard of finance before, and all they have done in their lives is to earn money from the soil and exchange their hard work for a pitiful amount of Thai Baht.
In the end, Thai Baht depreciated by 8 times because of Soros. Did these farmers participate in the financial industry?
Of course, it was useless to say all this. It was just that some people who did bad things should not think about carrying the good name. They should bear the condemnation of history. Otherwise, it would really be disgusting.
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