novelraw Chapter 615: Soros's Fangs, Harvesting Japan
Chapter 615: Soros's Fangs, Harvesting Japan
[Chapter 615: Soros's Fangs, Harvesting Japan]
As expected, it all began at 3:00 PM.
In the Japanese foreign exchange market, the situation suddenly changed.
The Yen to USD exchange rate surged at a speed that many people couldn't even react to.
Up 0.08%;
Up 0.09%;
Up 0.12%;
Up another 0.14%;
...In less than half an hour, the Yen's devaluation trend was completely reversed, surging by 2.8%.
A 3.1% surge in the exchange rate within half an hour immediately set off massive waves in the forex market.
One must realize that leverage in the forex market often starts at 50x and can go as high as 400x.
A 2.8% surge caused the vast majority of funds that had invested heavily in shorting the Yen to blow their accounts, being forced to liquidate by the System as their wealth was wiped out.
At this moment, all the fund managers who had previously dominated the Japanese forex market went crazy, many suffering heart attacks.
"Fuck, damn it!"
A manager of a European fund company, his eyes bloodshot, screamed hoarsely, "Who? Who exactly is it! I'm going to kill him! My 300 million Euros are gone in an instant."
He was driven to madness.
In the morning, he was an outstanding fund manager full of vigor and glory, having made a fortune; in the blink of an eye, he had become a pauper.
Anyone who was in Heaven one second and fell into the 18th level of Hell the next would go insane.
Similarly, in another hedge fund, a female fund manager slapped herself hard, looking lost and despondent.
"Fuck, I was careless, damn it!"
"It must be that demon Soros entering the market with massive capital; they are plundering our wealth."
"The profits from these past days, including the 300 million dollars in principal, have mostly evaporated in an instant."
The woman was in despair, and her team of traders all stood there in a daze.
However, she was still lucky; she had controlled her position with each investment, so her funds weren't completely wiped out, and she still had a chance to stay at the table... The massive loss caused in an instant was hard for everyone to accept, and these losses became delicious desserts in the mouths of Soros and the five major Wall Street investment banks.
Undoubtedly, as Soros and the five major Wall Street investment banks entered the market with massive amounts of capital, their frantic operations caused many unorganized international financial speculators to lose huge assets in less than half an hour.
Some investment banks with aggressive operations even declared bankruptcy immediately.
One after another, the financial elites who had lost everything cursed Soros vehemently!
Of course, many fund managers whose wealth had been cleared walked despondently to the rooftops of their buildings and jumped off without looking back.
What was even more ridiculous was that after this rapid surge of the Yen against the Dollar blew out basically all the short orders on the market, allowing Soros and the five major Wall Street investment banks to harvest a massive wave of wealth.
The Yen's exchange rate did not stay high for long. Just as some funds thought the market trend had completely reversed and followed suit by going long.
Less than four hours after the rise, the Yen to USD exchange rate suddenly shifted again and began to drop sharply.
Down 0.08%;
Down 0.11%;
Down 0.12%;
Up 0.15% again;
...In less than half an hour, the Yen to USD exchange rate plummeted by 3.1%, even lower than before.
This left the group of funds that had followed the trend by going long in tears, as they were ruthlessly harvested by Soros and his group once again.
Facing the massive capital of Soros and Wall Street, these hedge fund managers who usually dominated the forex market had completely become leeks to be harvested.
It also caused the Japanese domestic financial resistance forces, who had just been cheering, to suffer heavy losses and fall silent... Next, for three consecutive days, the Japanese forex market began to fluctuate violently under Soros's manipulation.
Countless capital suffered heavy losses in the violent market turbulence, ruthlessly harvested by the Wall Street investment banks led by Soros.
Seeing things were going south, other speculators looked for ways to surrender to Soros, and after paying a significant price, they joined Soros's team.
Soros and Wall Street declared their dominance through this inhumane and bloody slaughter, quickly integrating a large amount of international hot money.
Only then did they begin their true offensive against the Japanese forex market, revealing their real fangs.
Over the next few days, the Yen began a continuous and significant devaluation!
On the 20th, the Yen fell 0.52%;
On the 21st, the Yen fell 0.73%;
On the 22nd, it fell another 0.89%;
On the 23rd, the drop exceeded 2.1%.
In just four days, the Yen's exchange rate against the Dollar fell by more than 4%, adding to the previous declines.
This dealt a massive blow to the already precarious Japanese economy. The Japanese economy couldn't hold on, and many financial institutions and even banks went bankrupt.
At the same time, the futures and stock markets also plummeted. The Nikkei Index had dropped to 17,121 points. A group of Japanese corporate giants was also severely hit, with their market values crashing.
Many large companies had already begun considering layoffs.
Soros and the major Wall Street investment banks, along with the financial speculators from all over the world following them, made a fortune, frantically plundering Japan's wealth.
The Skycrest Hedge Fund, led by Willix, also quietly entered the market on the 21st with a small amount of capital, making significant profits. Over several days, their total profit exceeded 100 million dollars.
However, they clearly realized that now was not yet the final harvest time, because the Japanese government held over 200 billion dollars in foreign exchange reserves and could enter the market to save it at any time.
At that time, another round of brutal fighting would surely break out. Soros and the Wall Street investment banks might even take the opportunity to set a trap and harvest other speculative capital.
Therefore, they consistently adhered to the principles of small capital, low leverage, and short-term operations, quietly making a small fortune in the background.
Of course, facts were as they expected. In these few days, the sharp drop of the Yen against the Dollar caused too much damage to Japan, with direct economic losses as high as tens of billions of dollars and indirect losses being even more immeasurable.
The Japanese government finally couldn't sit still anymore.
At 9:00 AM on the 24th, the Japanese Ministry of Finance held a press conference and issued a statement.
"To counter the fall of the Yen and the frantic behavior of international speculators, we will launch a market rescue plan today. We will use more than 200 billion dollars in foreign exchange reserves to fully address this financial crisis. We advise international financial speculators to stop as soon as possible."
As soon as the announcement came out, the Japanese financial world was instantly excited. They firmly believed that the government could effectively strike these malicious speculative capitals and began to take the initiative in the forex market.
The general public's confidence also increased significantly, and they began to increase their stock holdings. The stock market saw a counter-trend rise.
Many international speculators also began to waver in their confidence. After all, the Japanese government represented the world's second-largest economic power, and its strength was far beyond that of those small countries in Southeast Asia.
Even Richard and Willix quickly called Linton to report and discuss the next steps.
Upon receiving the call, Linton rushed to the Skycrest Hedge Fund conference room.
Richard asked worriedly, "Boss, with the Japanese government's massive rescue efforts, do you think Soros and the others will quit while they're ahead?"
"Heh."
Linton looked at the news with extreme disdain. "Wall Street's greed is not that easily satisfied, especially with the American government standing behind them. You'll see, the real battle has only just begun."
"Didn't I tell you before? The capital gathered by Wall Street this time exceeds 1.5 trillion dollars, far exceeding the Japanese government's 200 billion dollars in foreign exchange reserves. Moreover, the American State Department, Department of the Treasury, The Pentagon, and the Federal Reserve are all involved."
"Faced with an attack of this intensity, combined with the fact that their financial market is completely undefended against the outside world, do you think it's possible for Japan to hold out?"
Richard and Willix both shook their heads. "In that case, Japan is doomed."
"What do you think we should do next?"
Richard and Willix looked at each other. "I suggest we temporarily stop operations, keep a close eye on the market, be ready at any time, find the right moment to enter in force, and bite off a large piece of meat."
Willix added, "We can focus on observing the consumption of the Japanese government's foreign exchange reserves. When their reserves are almost exhausted, that will be the best time for us to enter the market."
*****
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