Chapter 406: The Phantom of the IMF
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"I don't like this guy, but it's a good idea to watch him rush to the front desk to block all our views." Fan Wuxian said to Kevin.
The guy he said naturally refers to Soros, although this guy is known as a financial predator, but his assets are nothing compared with Fan Wuxi.
In recent years, Fan Wuxian has been closely tracking the direction of Soros's quantum fund activities, this time Soros appeared in Thailand, he quickly got specific news through Kevin, coupled with the previous awareness, he understood that Soros has begun to lay out the Southeast Asian market, and Thailand is the first important link he wants to test the waters.
Although the funds that Soros can directly control are limited, this guy's reputation is very good, and there are a lot of money that follows the trend, and there are also some real financial predators hiding behind him and waiting to take a ride, just like a figure like Fan Wuxi.
In stark contrast to the dark tide in Southeast Asia, the domestic economy of the United States is improving.
In particular, in the past two years, the frenzied expansion of the Internet has inflated the already vigorous US economy, almost to the point of bursting. On average, every five days, a Silicon Valley company goes public, adding 60 millionaires and creating more than 50,000 jobs every 24 hours.
In four years, venture capital has invested about $5.5 billion in technology development in Silicon Valley, and hundreds of other supporting companies have also been attracted to make a living from the technology food chain, especially Microsoft, which was founded in 1975, has entered the ranks of the world's top 500 companies and has become the standard-setter of the computer industry.
When autumn was coming, Soros led international travel funds to launch the first wave of attacks on the Thai baht, and the method was still the same as when sniping the pound, first borrowing a large amount of Thai baht and converting it into dollars in the foreign exchange market, but the Thai government responded in a timely manner, and the Bank of Thailand used two billion dollars of foreign exchange reserves to intervene in the foreign exchange market, which finally calmed down the turmoil, and Soros had to return empty-handed.
However, he is clearly not willing to fail, and Soros has played up the depreciation of the Thai baht in the media, and with the prestige established by the British sniper war and the Mexican financial crisis, Soros's words are a golden rule for speculators around the world.
As a result, the international financial market once again spread the word that the Thai baht was about to depreciate, and speculative funds from all over the world were mobilized, triggering a sharp fluctuation in the exchange rate of the Thai baht.
This time. The Thai government is a bit overwhelmed. However, the Bank of Thailand intervened in the foreign exchange market jointly with the help of the meeting of the governors of the Central Bank of East Asia. Tens of billions of dollars have been paid. Finally, the exchange rate was maintained at 25 baht to one US dollar.
Although Soros did not achieve his goal. But Fan is not sick this hitchhiker. It was in this operation that a lot was achieved. The Thai government lost land. But a large part of it went into his pocket.
Therefore, Fan Wuxian also said to his subordinates. "I'm finding myself a little wicked now. I seem to be very fond of financial crises. It's a great time to make money! ”
In fact. People who like to fish in troubled waters are not the only ones who are disease-free. In the course of this paragraph. Fan Wuxian also discovered the IMF's shadow.
Although I thought that Soros should have some earth capital hidden behind it. But the IMF is involved and fueled. It made Fan Wuxi a little surprised. He didn't make it to the point that the IMF would join in that kind of activity.
The IMF is the International Monetary Fund. Founded in 1945. It is one of the two largest financial institutions in the world. The role is to monitor currency exchange rates and trade between countries, and to provide technical and financial assistance. Ensuring the proper functioning of the global financial system. Its headquarters are in Washington, D.C.
The main function of the IMF is to formulate and supervise the local exchange rate policy among member countries, the payment of the current account, and the local rules on currency convertibility. Provide emergency financing facilities to member countries with balance of payments difficulties when necessary to prevent other countries from being affected by them. Promote the pace of international economic integration, maintain the international exchange rate order, and assist member countries in establishing a regular multilateral payment system.
When the IMF was founded, it was just the end of World War II, and the previous naked swords, guns and shells of plundering were tragic, and they were bound to walk out of the stage of history, but the new plundering methods would be carried out in a more civilized way, and World War II brought endless grief to the people of the world, both the participating and non-participating countries suffered heavy losses, and the fascists looted a large amount of gold and silver from the invaded countries.
With the end of World War II, this barbaric way of plundering will be completely opposed and eliminated by the people, but imperialism will not disappear, and plunder will not stop.
In Europe and the United States, the Ministry of Finance has no cash, and its monetary power is in the hands of the central bank and commercial banks, and the central banks in Europe and the United States are the real masters of the country, whether it is the provision of military expenditures during World War II or the ownership of plunder, these central banks provide and own, and the masters of implementation are not the state but the capitalists. Both Hitler and Mussolini were financed by these capitalists, and World War II looked more like a struggle for power than a plunder of wealth, and the initiators of World War II were the predators of capital.
The IMF was established to make it easier for these capitalists to use financial games to plunder wealth around the world.
One of the ways of plundering is to first establish a universal international currency dominated by the US dollar, implement the gold standard, set the exchange rate of various countries against the US dollar, and then repeatedly short the US dollar or pull up the US dollar to achieve that gold can flow to the pockets of European and American capitalists in a steady stream.
Although these operations were finally discovered and criticized by all sides of the world, a new way was born, that is, oil currency, and the IMF set the international oil price to be calculated only in US dollars, making oil a new plundering tool after losing the gold operation.
The operation method is the same, when the dollar loses credit, speculators pull up oil prices, so that the demand for the dollar in various countries increases, so that the dollar appreciates, and then short oil prices at high prices, repeatedly arbitrage, that is, can make a big profit on oil futures can also make a lot of money on the exchange rate.
On this issue, the most typical is the two oil wars, when the US economy was depressed, the dollar was weak, and Western countries provoked the contradictions between OPECC and Israel, which led to two wars in the Middle East, which led to a sharp rise in international oil prices.
The daily production of oil is far from sufficient for international use, but the ups and downs of oil prices are not determined by the demand of the market.
The second way of plundering is to force a country's currency to appreciate, causing the country's economy to decline.
Japan is a striking example. When Japan's economy became the third in the world, Western countries could no longer sit still, forcing the yen to appreciate, causing Japanese companies' export costs to rise, exports to decline, and Japan's economy was in a downturn for nearly two decades.
It is conceivable that when China's economy develops, the IMF will also promote the appreciation of the renminbi, and the monetary strategy of Europe and the United States against China has just begun, and the rapid advance of foreign banks will make a large amount of China's wealth begin to flow into other people's pockets.
The third way of plundering is that international speculators use international money to frantically deal with a country's exchange rate, paralyzing the economy of the victim country, and then the IMF provides assistance to the victim country.
IMF~ The conditions for assistance are nothing more than two kinds, one is high interest, and the other is to let the victim country use national resources as collateral, such as oil, minerals, electricity, water conservancy and other monopoly industries. In some cases, the land of the victim country is used as collateral. Argentina in the seventies and the coming Asian financial crisis are examples, Thailand, South Korea have been bailed out, on the condition that they open up their banking sector, pay high interest rates, mortgage certain industries, and so on.
Had it not been for Thailand and South Korea to catch the scam and repay their loans early, the central banks of both countries would be in danger of being controlled by the IMF.
These capital predators have given up on the gold strategy, and the oil strategy is coming to an end, but the war is not over, the plundering continues, and new weapons have now appeared, that is, financial derivatives. Only the IMF knows how to play with this kind of financial instrument that eats people and does not spit out bones.
Although Fan Wuxian has seen the negative role played by the IMF in the upcoming Southeast Asian financial crisis, it is not easy for him to say it, because he himself is also fishing in troubled waters, exposing others at this time, in fact, he is also exposing himself, and he can't make it, after all, he has been following Soros and others for several years, and now is the harvest season, there is no need to affect the overall situation because of excessive sympathy.
So far, Soros's two attacks have ended in failure, but they have effectively reduced the Bank of Thailand's dollar reserves, weakened the opponent's ability to resist, and created panic in the minds of investors, who have previously made a frenzied retreat from short-term funds that have previously entered Thailand's stock and property markets.
The pressure of the depreciation of the Thai baht has further intensified, and there has also been a continuous panic selling in the foreign exchange market, which has directly led to a drop in Thailand's foreign exchange reserves by about 15 billion US dollars.
In this case, the depreciation of the Thai baht is a matter of course, and what is lacking now is only a kick in the door, and it is time to see who is willing to risk being hostile to the Thai government to act as the main attacker of this vital matter.
Playing this role is both tempting and stressful.
Fan Wuxian weighed the pros and cons, and felt that it was a bit bad for him to jump out openly, and it was better to wait for Soros to be the target, remembering that after the financial crisis, he almost became a rat crossing the street. There are no pop-ups