After that, the price of gold rose sharply, even breaking through the market's peak at one point.
This is a disaster for stock market investors in Southeast Asia.
Soros used public opinion to create a gold frenzy, and then suppressed the gold stock market by dumping shares, thus ruthlessly reaping profits from a group of gold bulls.
These suckers, even after Soros left, still believed that the gold crisis was caused by the inability of Southeast Asian governments to protect their currencies.
"It's good that Soros is still willing to take action. I'm just afraid he's deliberately avoiding me," Chen Dong said to Lin Zhiyuan. "He ruined the Hong Kong stock market, and I haven't gotten my revenge yet."
However, the fact is that even though many international speculators and investment banks have been scammed by Soros many times before, they still flock to him whenever he takes a new step.
The news that the Swiss National Bank is preparing to loosen its gold reserves is immediately obvious to insiders as another move by international speculative capital.
The first time they dumped gold in Southeast Asia, it was to profit from gold bulls. This time, regardless of whether Soros is going long or short, one thing is certain: following Soros will bring profits.
Soon after, Soros's hedge fund made a new move.
New York gold futures prices plunged $16 per ounce, falling to $540 per ounce.
Previously, in some parts of Southeast Asia, the price of gold had already been driven up to over $1,000 per ounce, but in Europe, the price of gold remained fixed at around $600 per ounce.
Because Switzerland, with its gold standard-based monetary policy, has always controlled gold reserves, the price of gold in Switzerland, and indeed in Europe, has remained stable.
However, this stability was disrupted from within by international speculative capital due to news that the Swiss National Bank was preparing to sell its gold reserves last week.
Swiss banks are known as the world's largest gold market, and the combined gold reserves of all banks in Switzerland are the largest in the world.
If this news is true, it means that this batch of gold reserves will be released into the market, and the amount of gold reserves in global circulation will increase dramatically.
The principle of value fluctuations in gold currency is the same as that of real-world symbolic currency, namely paper money.
When the amount of money in circulation increases, prices rise, resulting in inflation; when the amount of money in circulation decreases, prices fall, resulting in deflation.
The decline in gold prices suggests that a large number of international speculators are about to short the gold market.
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