Mixed in 1980

Chapter 349 Soros's outburst (23)

Given that Chen Fan had suddenly come to Hong Kong in May to convene a meeting of Hang Seng Bank's shareholders, Governor Peng Dingkang was very uneasy, certain that Chen Fan was planning something big.

Now that this group of wealthy individuals has gathered again at Spark Investment, there's only one possibility: action is about to begin.

Pengdingkang is already scared.

He picked up the phone and gave orders to keep a close eye on changes in the Hong Kong market, especially the financial market, which was the most vulnerable to attack.

It wasn't just him; HSBC, Standard Chartered, Swire Group... the British were all like startled birds, keeping a close eye on the financial market, not missing a single sign of trouble.

Chen Fan has become their nightmare!
It's just that Chen Fan didn't know. If he did know, he'd probably be laughing for half a day. After slapping the British so many times, they finally realized they were scared.

After laughing, you still have to curse: You bastard!
Knowing full well that Chen Fan was not someone to be trifled with, he still insisted on provoking him. He was a typical case of someone who was asking for trouble. Many people in Hong Kong thought that the British were not quite right in the head.

However, the British were destined to be disappointed. Throughout the day, Hong Kong remained calm and the financial markets did not experience a single ripple.

Even so, the British, like birds startled by the mere twang of a bow, dared not be careless. They continued to keep an eye on the financial markets the next day until they saw the reports in the newspapers, at which point they finally breathed a sigh of relief.

Led by Spark Investment, Hang Seng's shareholders collectively sold off pesos.

What is a peso?
Many people didn't realize it at first, but after reading the report carefully, they realized that it was the currency of Mexico, a country that has little to do with Hong Kong.

"So they were heading to Moxi Valley!"

Peng Dingkang, holding the newspaper, secretly breathed a sigh of relief, lit a cigar, and leisurely puffed on it: "It's good that it's not aimed at us. As for the Mexican Valley..."

She pouted slightly: "What's it to me!"

In Hong Kong, nobody cares about Mexigou; there is almost no trade between here and Mexigou.

Spark Investment did not promote the event extensively in Hong Kong; it simply had the media report that the event had occurred, and that was all.

Mexico has close economic and trade ties with major powers like the United States and Canada, as well as some Latin American countries. The shareholders of Hang Seng Bank also focus their publicity efforts on these countries.

Here in Hong Kong, it's just for fun.

Pengdingkang had this mentality, and even marveled: "Selling off 350 billion pesos in one go, worth more than 100 billion US dollars, these people are ruthless."

Can the people of Moxigou hold on?

Without thinking, Peng Dingkang thought of the pound sterling exchange rate war, in which Chen Fan was even more ruthless and sold off a larger amount of his stock, ultimately causing the pound to depreciate by 50%.

Mexico's foreign exchange reserves are far less than those of Britain, and without the support of other European countries, it is doomed. The only question is how much the peso will fall.

The reason the pound only depreciated by 50% was because of the intervention of the Chinese government, which forced Britain to sign many treaties and resell 21 plots of land to Chen Fan at a low price.

Otherwise, it will drop another 20%.

Mexico clearly has no bargaining chips, and everything can only follow market rules. It wouldn't be too surprising if the peso eventually depreciates to worthless paper.

Unless the Americans are willing to lend a hand!

Little did they know that the Wall Street tycoons were already in chaos and clearly divided into two camps.

One group actually went to Mexico to invest; a small portion invested in real businesses, while the majority went to make short-term securities investments.

Someone is now selling off pesos, and the market is reacting very quickly, with the peso depreciating and the stock market falling.

"Fake..."

They were criticizing, and so were people from another camp—the Wall Street tycoons led by Soros' Quantum Fund.

Like Chen Fan, they all wanted to reap the rewards!

Their plan was not yet complete, and they did not have enough pesos. They were still waiting for the right opportunity to launch an attack.

I never expected Chen Fan to snatch it away!

"It's Chen Fan again, it's Xinghuo Investment again, damn it... He hijacked the British pound last time, and now he's doing it again. Is he targeting me?"

Chen Fan was really watching him!
In his past life, it was Soros who launched the attack on the peso, rapidly depleting Mexico's foreign exchange reserves, forcing the peso to unpair its currency from the US dollar, and ultimately causing the peso to collapse.

However, Soros attacked too late, and Mexico's foreign exchange reserves were not much left, making the attack much easier and almost an instant collapse.

October is the best time to launch an attack!
"Sell pesos immediately, sell them all!"

After hurling a few curses, Soros didn't hesitate at all. The peso was forcibly pegged to the dollar and was still at 3.47. Selling now would maximize his profits.

"I hope it will succeed!"

Soros wasn't worried about not being able to sell. The peso was forcibly pegged to the US dollar, so as long as he sold, Mexico would have to buy it up to stabilize the exchange rate.

What we should really worry about is that Mexico has the capacity to take it over. If we fail to deplete Mexico's foreign exchange reserves, it means the attack has failed and we will lose a large amount of interest.

"I hope that Spark Investment has sufficient peso reserves. I can't just sit idly by. I also need to create momentum in the media to force other capital to sell off their shares."

Despite the fact that Henxinghuo Investment jumped in to steal the deal, the interests of both parties were aligned, and Soros could only side with Chen Fan.

Soros has more resources in Latin American countries.

In a short period of time, a large number of media outlets rushed into the public opinion arena, with only one goal: to cause panic among peso holders and force them to sell off their holdings.

"The effect is very obvious; the first wave of selling has already occurred."

At Spark Investment, a group of partners sat together, with more than a dozen telephones and mobile phones on their desks, each corresponding to one of them.

The phone keeps ringing!
Zhou Wenya had just hung up a phone call when she said, "I didn't expect that Soros and his gang would also target the peso, and they've already started selling off their shares and are putting pressure on the media."

Li Zhaoji asked, "What about the Mexican government?" Zhou Wenya raised the corners of her mouth and said disdainfully, "They're still putting on a brave face. They just held a press conference, saying that Mexico has the ability to stabilize the exchange rate market and reassure investors to hold pesos."

“It’s impossible to stabilize it. We and Soros are working together. Although it hasn’t triggered a large-scale sell-off yet, with Mexico’s foreign exchange reserves, it won’t last long.”

"Unless you're planning to burn through all your foreign exchange reserves!"

After listening to him, Li Zhaoji nodded slightly: "I think the time has come. We must add fuel to the fire and make the market even more panicked."

"Mr. Li, do you mean to continue selling pesos?" Zhou Wenya asked.

Li Zhaoji nodded: "We can't sell everything off. Let's sell another 100 billion pesos, which is about 30 billion US dollars, to further fuel the market."

"I agree!"

Old Huo stood up, opened the window, and lit a cigarette: "We can contact Soros; he has more publicity resources. Let him help create momentum."

"What do you all think?" Zhou Wenya asked, looking at the crowd.

Seeing that no one had any objections, Zhou Wenya smiled and said, "Then let's sell them off. I'll contact Soros. Our interests align, and he won't refuse."

After saying that, Zhou Wenya left the office and began giving orders to the traders. She then returned to her own office to call Soros.

As soon as the call connected, Soros launched into a tirade of complaints.

Soros believed the timing was wrong. Mexico still had ample foreign exchange reserves, and selling at this time would be extremely risky; if it failed, there would be no more opportunities.

“Mr. Soros, that’s precisely why both of us need to exert more effort. The more the peso depreciates, the more we will profit.”

"Don't worry, next time I go to Hong Kong, remember to have Mr. Chen treat me to a meal."

After hanging up the phone, Soros got busy again, ordering the contact of propaganda resources, determined to deplete Mexico's foreign exchange reserves no matter what.

As soon as Mexico announces that the peso is decoupled from the US dollar and adopts a floating exchange rate, a massive sell-off will occur, much like the pound sterling in 92.

Zhou Wenya returned to her main office, had tea brewed, and sat down with a group of bigwigs. However, the office was eerily silent at that moment.

Everyone was waiting for the phone call; no one was in the mood to talk.

After an unknown amount of time, Li Zhaoji gently tapped the table: "Assistant Zhou, is there still no news from Mr. Chen?"

Zhou Wenya touched her nose: "I asked the foundation, and they said it should be in Kunming, Yunnan, but Mr. Chen doesn't want to get involved in these things."

Li Zhaoji irritably took out a cigarette and lit it: "With Mr. Chen not here, I always feel uneasy. I hope the people of Moxigou can compromise."

Chen Fan had already stayed in Chuncheng for a day.

According to the plan, today the family will go sightseeing, while I and Xu Jinqiu will go to other cities and then travel to the countryside for research.

After the family has had enough fun, we'll go to the countryside together.

However, the plan changed. After arriving in Kunming, I learned that a jade exhibition was being held there, with many jewelers participating.

In addition, it has attracted a large number of Chinese from Hong Kong, the island, and Southeast Asia.

Jade is something that Chinese people collect.

In the 1990s, there were relatively few top players in mainland China, but there were more people from Hong Kong, Taiwan, and Southeast Asia.

"Let's go to the exhibition first, and then go to the countryside tomorrow."

Xu Jinqiu grinned and rubbed his hands together: "I heard the exhibition is quite large, and there should be a lot of top-quality goods. I'll go and take a look."

Zeng Ali teased, "Boss Xu's perspective is truly different. Others go to trade shows to buy things, but you go to trade shows to go on a shopping spree, tsk tsk..."

Zhao Yuanyuan chuckled: "Your shirt can't hide your rich and powerful aura. I suggest you put on a jacket."

"I hate it!"

Xu Jinqiu pouted and rolled her eyes at her sisters: "I'll go to the exhibition with you and Chen Fan, and you two will be in charge of taking the kids around."

"Why should we have to bring our kids when you go shopping? Let's go together. I'll pick out some nice things for you today too," Zhao Yuanyuan snorted.

As for the children, there's absolutely no need to worry about them.

Their grandparents and maternal grandparents are all there, and they are accompanied by nannies and bodyguards. They are very safe not only in Kunming, but also in Southeast Asia.

"Let's go then!"

Chen Fan smiled and was about to set off when Yan Yin grabbed his leg: "Daddy, I want to go too!"

He picked up his daughter and said, "Yanyin, Mommy and Daddy are going shopping. It'll be boring. Why don't you go play with your older brothers and sisters?"

"No, I want to stay with Daddy."

Chen Fan chuckled to himself, kissed his daughter, and then took the little girl with him to the venue. The little girl didn't run around; she was lazy and just liked to be carried.

His eyes darted around, showing great interest in the colorful things.

at the same time!

In the large office of Xinghuo Investment, the phone suddenly rang, startling all the bigwigs in the office, who all looked at the ringing telephone.

P.S.: Second update! One more to go! Thanks for your support, everyone! Happy Labor Day!

(End of this chapter)