The world begins with Hong Kong movies

Chapter 466 Watch it rise to great heights, watch it crumble! (Seeking monthly votes)

Sometimes, it's really hard to understand the thoughts of Hong Kong people!
The Hong Kong British government has been transferring trillions of Hong Kong dollars worth of benefits from Hong Kong Island to the British mainland every year for many years.

If this money were left on Hong Kong Island, it could easily support the development of a high-welfare society similar to those in Nordic countries.

The increasingly outrageous commissions charged by the mainland for maritime transshipment alone were enough to make the Hong Kong British government extremely wealthy.

Not to mention stock market manipulation and outrageous land transactions.

In fact, Hong Kong's financial market is firmly controlled by British capital, with HSBC as its main player.

Despite the large number of Chinese banks in Hong Kong, HSBC is almost always among their shareholders, and they hold a significant stake in many of them.

No matter how well they were managed, they couldn't withstand the wave of bank runs over the years and eventually had to bow down to the HSBC group.

Far Eastern Bank, Hang Lung Bank, and even Hang Seng Bank couldn't escape the clutches of evil.

Even so, the Hong Kong Monetary Authority still doesn't want to let go of the UK's foreign exchange reserves.

This defense of London's financial system is of great importance to the British.

It gives the impression of a war between old and new financial giants.

Whoever wins will be the undisputed king of the world of finance!

In fact, such propaganda is just a way for Britain to glorify itself.

Of course, it is undeniable that the UK's financial influence is also world-class.

This time, in order to protect the pound's exchange rate, the financial forces, led by the Bank of England, have prepared ample ammunition.

In a normal timeline, the Bank of England was caught off guard.

Faced with a massive influx of international speculative capital, the pound sterling fell below its exchange rate after exhausting its reserves.

The consequences are very serious!

As a crucial part of EU economic integration, the issuance of the euro directly lacks the presence of the UK, a key member.

Putting aside other things, there are related plots in many football novels.

In the Premier League, player transfers are almost always settled in pounds sterling!

In European player transfers, the euro is the unanimous unit of measurement.

In Serie A, the unit of measurement for player transfers has become the dollar!
In fact, it's very troublesome!

The exchange rate issue alone is not a simple matter.

Moreover, they all have to use the dollar as their pegged currency, which is quite awkward.

This time, the Bank of England, as the central bank of England, has made quite thorough preparations, but it's unclear whether it can withstand the pressure.

As it turns out, the British Empire did indeed decline.

Moreover, it has declined drastically and can no longer maintain its status as a major financial power.

To put it bluntly, this battle to defend the pound almost exposed the true nature of the British pound.

For the first month or so, they were engaged in a fierce and back-and-forth battle with international speculative capital, mainly from several major Wall Street funds.

Spending nearly 100 billion dollars on entertainment is quite an astonishing amount.

But when Christmas came, for some reason, I suddenly couldn't hold on anymore.

Then, the pound was so badly damaged that it abandoned its fixed exchange rate, and the hundreds of billions of dollars invested went down the drain. At the most critical moment, the British government forced the Hong Kong Monetary Authority to release its dollar reserves and inject them into the tense and volatile British financial markets.

This matter caused quite a stir.

Many wealthy Chinese are getting restless; if the Hong Kong Monetary Authority compromises, the Hong Kong dollar exchange rate will be severely impacted.

If the Hong Kong dollar cannot maintain a fixed exchange rate, their net worth may shrink rapidly, and this is no joke.

Is exchanging 7.8 HKD for one dollar the same as exchanging 10 HKD for one dollar?
Finally, the mainland authorities intervened, strongly opposing the UK's reckless actions that disregarded the financial security of Hong Kong, and the plan was ultimately thwarted.

The British team suffered a crushing defeat this time!
Without the protection of a fixed exchange rate, all the money in the hands of the British is rapidly losing value.

In other words, the British pound is indeed very strong, which is why it can maintain a relatively high exchange rate. Otherwise, it would have really suffered a serious blow.

Soros' Quantum Fund made him famous overnight!
It became the most outstanding fund among the many funds on Wall Street this time, and Soros also became a well-known financial magnate in Europe.

Wu Feng also got to enjoy the fruits of his labor. Although he didn't earn as much as the Quantum Fund, it was still a similar amount.

With profits of nearly 10 billion dollars, plus gains in the lira and other European foreign exchange markets, he has made a fortune.

However, it will likely take six months to a year to get the money, something our allies all know.

In fact, what surprised him the most was the sudden appearance of 'international hot money' when the fixed exchange rate of the pound could no longer be maintained.

The final investigation revealed that it was a financial force based in the UK!

Their actions perfectly illustrate the meaning of "if you can't beat them, join them" and the fact that "capital knows no borders".

Anyway, he couldn't quite understand these British financial forces who took advantage of the chaos; they were nothing short of traitors.

Similarly, Wu Feng showed no sympathy for Dai Ying's plight.

In fact, while people in other parts of the world were enjoying the New Year holiday, the rest of Europe, except for France and Germany, was basically shrouded in gloom and despair.

For no other reason than that the value of the money in their hands has shrunk to varying degrees, which is a true reflection of "misfortune falling from the sky while sitting at home".

These situations, along with the reactions of ordinary Europeans and the businesses affected by the financial markets, were all faithfully recorded by the cameras.

In this regard, Wu Feng has always been willing to spend a lot of money!
Today, ATV is considered a major intercontinental television station, with reporter stations in at least several important European cities.

Similarly, in reporting live news from Europe, they have completely suppressed their old rival, Wireless.

Many viewers interested in international affairs are mostly so-called white-collar elites and foreigners, who are used to watching ATV's key news programs so they can get firsthand news.

The only thing ATV currently lacks is coverage and a larger audience.

The mainland side has been quite helpful; the near-Earth orbit communication satellite that Wu Feng purchased has already been manufactured.

We're just waiting for the rocket launch site to schedule a suitable time to send it into space.

If all goes well, I believe that by the first half of 1993, ATV will be able to cover the entire Asian region, and anyone with a signal receiver will be able to watch it.

At that time, ATV broke free from the confines of Hong Kong Island and became a major television station with truly intercontinental influence.

Of course, the main viewership is actually in East Asia and Southeast Asia, where there are large Chinese populations. As for West Asia, don't expect too much.

If it weren't for the fear of attracting too much attention, Wu Feng could easily have purchased more satellites to form a global communication network.

If he were to do that, the CIA would probably take action against him.

(End of this chapter)