Chapter 931: 931
Chapter 931 – Volunteering to be the scapegoat
“Boss, Thai Baht had fallen 5% today . ” He Zhaoji reported .
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Feng Yu was surprised . Why did Baht fall by so much? Soros’s funds should still be in the SGD market .
“Where did the funds come from?” Feng Yu asked .
He Zhaoji looks around and seems to be afraid to let other people hear what he is going to say . But he is in Feng Yu’s office, and they are the only two people inside .
“Boss, I think it’s from the Fu Family . Fu Rongqi had short Thai Baht in a large amount . ” He Zhaoji said softly .
The Fu Family had joined in so early, and it was Fu Rongqi? Feng Yu does not know about this .
Fu Rongqi participating in the attacks on Asia’s currencies, will aid Feng Yu and the rest . With more funds shorting Thai Baht, the Baht will start falling again, and Feng Yu can cancel their future contracts early . The profits from Baht can be used in other markets .
However, Feng Yu is worried that with Fu Rongqi joining in the attacks on the other markets, Hong Kong will be left defenseless .
Initially, when Feng Yu attacked Thai Baht, he had invited Fu Rongqi, but Fu Rongqi rejected it . It’s not a problem for Fu Rongqi to attach Thai Baht now, but he should inform Feng Yu beforehand .
Feng Yu still thought if he should give Fu Rongqi a call when his phone rang .
“Nephew Feng, have you notice the changes on Thai Baht’s rates?” Fu Rongqi asked .
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“Are you the one? The drop is significant . You should have used a large amount, right?”
“Hahaha… it’s not a lot . I am calling to inform you that I had decided to join you to earn money . That old man, Superman Li, does not want to participate, and he will be defending Hong Kong . In return, let’s give in to him on our business ventures in the future . Professor Liang will help monitor Hong Kong’s financial market, and with them around, we won’t need to worry . ”
Feng Yu was relieved . Fu Rongqi had thought about all these, and it’s reasonable to give in to Superman Li on their ventures in the future .
“Uncle Fu, where will you be targeting next?”
“Not SGD for sure . Hahaha . I am not senile yet . Are you all going to attack Indonesia, the Philippines, or Malaysia?”
Feng Yu was surprised that Fu Rongqi was not tricked by the market conditions .
“It should be the Philippines or Malaysia first, and Indonesia will be later . ”
“Alright . With our funds, we can be more daring . ” Fu Rongqi hinted .
With more funds, it will be more effective, and Fu Rongqi is hinting that they can use lesser funds to hedge against the risk .
This way, Feng Yu and Fu Rongqi’s profits will be much higher . The effects of using 1 billion USD and 2 billion USD are very different, and the profits will not be doubled . It will be much more .
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“Uncle Fu, I suggest that you should hide behind the shadows . We are going to stir up a hornet’s nest and must not take this blame . ” Feng Yu said .
“Hahaha… Of course . We are only following the trend, and it’s considered financial investments . It’s Quantum Fund who is speculating and disrupting the economy!”
Feng Yu cannot stand this old man . He is too shameless . Feng Yu had only thought of pushing the blame to someone else, but Fu Rongqi named Quantum Fund as the main culprit .
You are investing, and they are speculating? Everyone is speculating now, as investing should not harm other people’s interests . Just look at Thailand’s economy now!
It’s only been a while, and dozens of factories in Thailand had close down . Many of the factory owners were speculating in shares and had their funds stuck in the stock market . Some had invested with the financial institutions there and ended up losing everything .
No one had expected a thriving economy to collapse suddenly . The stock index had fallen from 1,300 points to 600 points now .
This is not the end of it yet . The stock index is still falling, and no shares are rising .
The bosses are going bankrupt and could not pay their workers, and their workers’ money is stuck in their properties .
So, the workers start to sue their bosses, and the bosses can go on the run with all available funds .
Factories start to bankrupt and speed up Thailand’s economy collapse .
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After the main industry collapse, there is no way to save Thailand’s economy . The Thai Government is broke and is heavily in debt . No other country in the region can help them .
China had agreed to help Thailand and had only donated 1 billion USD . The reason given to Thailand is simple . China is poor, and Thailand’s economy had been doing better than China . Look at the average salary of Thai and Chinese . The Chinese are earning a tenth of your people . Furthermore, 1 billion USD is a donation, and Thailand does not need to repay China . This is the best China can help .
What? Do you want to borrow money from us? We are a poor country and do not have money to help you . Don’t worry . We had helped you seek financial assistance from the IMF . Just hang on, and someone will help you .
So, Thailand has got nothing to lose . Their economy is in tatters, and the other Asian countries with close ties to them are affected .
Thailand had thought that their losses were severe and were at the max . At least they had protected their real estate industry . The property industry in Thailand had not crashed and there’s still slight hope for their economy .
But a significant fund appeared from nowhere and started to press down Thai Baht rates . This must be Quantum Fund attacking Thailand again . Where did they get so many funds?
SGD rates are still not suppressed, and Quantum Fund is attacking Baht again?!
Fine… Thailand’s financial system is weak, and everyone trading in Forex knows Thai Baht will continue to fall .
Currently, more and more people are shorting Thai Baht internationally, and even the Floating rate system cannot help Thai Baht .
At this time, Basong suddenly made an announcement . “Soros and Quantum Fund are cunning, evil, and despicable speculators . They had attacked other countries’ financial systems for their greed . These people should be condemned!”
Soros still did not know what happened . When I attacked Thai Baht, you claimed you would make me lose all my money . Now, I switched to other countries, and why are you scolding me?
Soros looked at Thai Baht’s rates . Eh? Thai Baht rate is falling again and is falling much faster than he expects . What is going on? Someone with significant funds had joined?
Soros understood why Basong had scolded him . He is the scapegoat, and he still does not know who the culprit was!
However, Soros is not afraid of Thailand, and he asked his men to announce on financial news that what they had done is legal investing .
Feng Yu is curious about why Soros is stepping up to take the blame? What is he trying to do?
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