After Soros defeated South Korea's economy, he finally led his troops to Hong Kong.

This time, he gathered more than 500 billion US dollars in huge capital to fight to the death with Hong Kong.

The last time he sniped in Hong Kong, the reason why he failed to achieve his complete success was mainly because Britain was playing a scoundrel. The value of the Hong Kong dollar fell to the bottom, but he refused to give up the contact exchange rate. It was equivalent to playing a scoundrel who refused to admit it.

Although Soros was very dissatisfied at the time, he was just a businessman after all. He actually had no chance of winning against a country that deliberately played a rogue, so he had to retreat.

But this time, Soros learned his lesson and would never fall in the same pit again.

This time he gathered $500 billion in funds. This money is more than the foreign exchange reserves in Hong Kong and Britain. If the UK is still going to be a rogue this time, then he will go and snipe the pound and let Britain suffer well.

In his opinion, the pound now has a huge weakness. Once it attacks this key point, it will cause Britain to suffer enough!

After Soros' army arrived in Hong Kong, it immediately sold 400 billion Hong Kong dollars in the international market, which was about 60 billion US dollars.

At the same time, Hong Kong's foreign exchange reserves were only 95.6 billion US dollars.

If we want to save the Hong Kong dollar exchange rate, the Hong Kong government must exchange 60 billion US dollars for these 400 billion Hong Kong dollars. And these 400 billion Hong Kong dollars will definitely be just the beginning. More Hong Kong dollars will be sold out one after another. At that time, if the Hong Kong government keeps buying, its foreign exchange reserves will be consumed soon.

By then, if Hong Kong loses all its foreign exchange reserves, not only will it not only disappear for decades of wealth accumulation, but it will also become fresh fish on the chopping board and let mermaid meat. The four Asian kittens are the best examples now.

If the exchange rate is not saved, the Hong Kong and British governments will hold on to the exchange rate unchanged, but cannot provide enough foreign exchange exchange. This is equivalent to disguised foreign exchange control, and then the Hong Kong economy will collapse again.

Just like China, in name, the RMB exchange rate against the US dollar is 6 to 1, but there are great restrictions on foreign currency exchange. There are also very large restrictions on foreign exchange outflows.

Hong Kong is a free trade port. Once foreign exchange control is implemented, it will cause fatal damage to Hong Kong's development. After all, when funds cannot be freely circulated, which trader is willing to trade here.

Last time, Soros sniped Hong Kong, and the Hong Kong and British governments insisted on the exchange rate remained unchanged, almost turning Hong Kong into a "stinky port".

The trade volume that year fell by 50%, and the cargo throughput of Hong Kong terminals fell by nearly 40%. A large number of companies engaged in import and export trade were in trouble, and more than 20,000 went bankrupt.

The unemployment rate was once as high as 20%. The Labor Department lined up long queues every day, and dozens of people rushed to do a job. Not to mention those who jumped off buildings and burned charcoal, there were reports in newspapers every day. At first, it was still a headline news, but later it was just a social page, stamp-sized page.

Therefore, the Hong Kong and British governments are not going to rescue the market this time, nor are they going to not rescue the market, and they are in a dilemma.

...

As soon as Soros arrived, he sold 400 billion Hong Kong dollars.

Such a big deal scared the Hong Kong people to death.

The last time Soros took action, it only started with 20 billion Hong Kong dollars. Now it has risen to 400 billion yuan, which shows how strong his capital is. It seems that he is bound to win this time.

After realizing this, the people were more eager to sell their assets and cash out.

As a result, the housing market in Hong Kong has fallen faster.

When I saw the real estate market and the stock market was so hot, I was rushing to invest, but now I was stunned when I saw the miserable real estate market and the stock market.

The Hong Kong stock market has fallen from the highest of 13,000 points to only 10,000 points, and it is still continuing to fall. The decline is more than 25%.

The real estate market has dropped from a maximum of 20,000 Hong Kong dollars per square meter to now that it cannot even sell 15,000 Hong Kong dollars. The decline has exceeded 25%. And everyone can see clearly that this is just the beginning.

This has caused investors to suffer heavy losses. In particular, many investors are borrowing money. Now that house prices fall and stock prices fall, their assets not only shrink, but also face the fate of being collected by banks.

If they can't pay back the money, their houses and stocks will be confiscated by the bank. At that time, banks will definitely sell them at a large discount in order to cash out, and then their losses will be even greater.

What's even worse is that after these assets are discounted and sold, they are likely to be unable to offset the loan. At that time, these people will have to continue to pay back the bank's money. This means that all the investments are wasted, and they still owe a large amount of debts to the bank. If they have no money to pay them back, they will still be filed for bankruptcy by the bank and hand over their lifetime accumulation to the bank.

Although Hong Kong can file for personal bankruptcy, the outstanding debts will be written off after a few years of hard life. However, the hard life in recent years is not easy. Not only will it be restricted from consumption, but it will also be discriminated against, which is equivalent to carrying an invisible shackle.

What's more, the Hong Kong class is solidified. Rich people, as long as they don't make big mistakes, will always be rich. On the contrary, it is difficult for poor people to turn over. Therefore, bankruptcy is not the most terrible thing. What's terrible is that there will never be a day to turn over in the future.

Therefore, many people would rather kill themselves than file for bankruptcy after failing to invest and bear heavy debts, waiting for the opportunity to make a comeback.

...

The Hong Kong people even more shocked is that even if they cash out all their assets, they cannot be converted into foreign exchange with stable currencies.

Because banks in Hong Kong are now short of foreign exchange, they only supply a few million US dollars a day.

Whether it is foreign banks like Huifeng, Standard Chartered, Citi, or local banks like Hang Seng, Toao, Far East, as well as Chinese banks like Bank of China and China... they all supply foreign exchange in limited quantities.

Each customer can only exchange up to 5,000 US dollars per day, and it can be exchanged in a specific branch or a specific window.

Such an approach will naturally arouse people's dissatisfaction.

You should know that the Hong Kong dollar plummets now and is an inevitable fact. In order to ensure that their wealth does not shrink, it is the best choice for the people to exchange it into US dollars, francs, marks, etc. But now banks restrict them from exchange, which is equivalent to letting them watch their wealth turn into water!

But whether the people are dissatisfied or protested, they are ultimately unable to twist their arms.

The authority of banks is not something that they are the common people who are fighting. What's more, the reason why banks lack foreign exchange is because the Hong Kong and British governments are unwilling to use foreign exchange reserves to support banks.

So when the people protested to the Bureau of Management and asked them to deal with the bank, they actually hit the board back to the Bureau of Management itself. Naturally, they would not pay attention to it.

If you can't exchange money, the public can only find another way.
Chapter completed!