George saw an opportunity when the United States joined the European Exchange Rate Mechanism in 1990.
In his view, the United States made a fatal mistake this time.
The European Exchange Rate Mechanism requires member countries' currencies to be pegged to the German mark.
George felt that the Eagle's economy was not strong at this time, and the Eagle's entry at this time was equivalent to binding them with the strongest economic system in Western Europe.
One side is weak, the other is strong; there's no such thing as a free lunch, and the United States will pay the price sooner or later.
As it turns out, George's foresight was spot on, and what he expected actually happened.
Throughout the changes in the exchange rate system, everyone believed that under this powerful economy, exchange rate fluctuations would be minimal and the value of national currencies would be relatively stable.
Therefore, everyone rushes to buy weaker currencies and acquire higher-yield bonds.
This has made the European Exchange Rate Mechanism more rigid than before, pushing it directly to a stage where reform is imperative.
At this time, the United States gritted its teeth and held on, assuring the public that the European Exchange Rate Mechanism was rock solid.
Soros didn't believe it, which led to his subsequent plan to attack the pound.
While everyone else was operating within the existing system, George was ready to face institutional change.
The Wall Street Journal published a speech by Bundesbank President Schlesinger, in which he clearly expressed some of his views.
Seeing an opportunity, George immediately shorted the Italian lira.
The lira was forced to withdraw from the European Exchange Rate Mechanism in a short period of time.
George profited from this short selling, giving him enough capital to counter the plan to attack the pound.
...
On the afternoon of September 15th.
George sat in his office on the 33rd floor of a skyscraper overlooking Central Park in Midtown Manhattan.
The week before, George mobilized $10 billion.
Meanwhile, right outside George's private office was the Quantum Fund's staff lounge.
On the wall of the lobby, there was a banner printed by a computer.
"I was born poor, but I will not die poor."
In reality, George had already arranged everything, and the battle to stop the pound had begun.
George was sitting in his office simply to get a feel for the atmosphere of what was supposed to be the biggest gamble in financial history.
The pound was impacted by the actions of George and others.
...
In the top-floor conference room of the Central Bank of the United Kingdom, several high-ranking officials were having a meeting, and everyone looked extremely grim.
The bank president flew into a rage, spewing profanities: "That bastard! Does he want to take on the entire United States? He's insane!"
"We absolutely cannot let this despicable and insidious bastard succeed! The whole world is watching our Central Bank of the United States, and this time we will make George pay the price!"
The Central Bank of the United States immediately launched a counterattack.
Meanwhile, in Hong Kong, Chen Dong and Xu Shixun were sitting in the office lobby of Wangcai and others.
Not long ago, Chen Dong bought a small office building near the stock exchange. Wang Cai and others usually work in this office building.
Inside the hall, Wangcai and his men began to carry out Chen Dong's sniping plan.
As time went on, the Eagle Central Bank's counterattack became exceptionally fierce.
At this moment, Wangcai jumped up from his chair and immediately roared, "Damn it, George has made his move! A full 3 billion in funding! This madman, boss, haha... this is so exciting!"
Upon hearing this, Xu Shixun immediately broke out in a cold sweat.
Chen Dong calmly sipped his tea, then smiled faintly and said, "Wangcai, we can begin now."
"Okay, Chen! Haha, I love you so much!"
Wangcai was overjoyed. As a finance professional, he was able to participate in such a thrilling financial battle, which was even more exciting for him than finding a woman.
With the help of Wangcai and others, Chen Dong's side also began to target the British pound.
Countless funds converged, with the funds flowing between George and Chen Dong being the most prominent.
At this moment, George received the news.
A strong flow of funds has emerged and joined the ranks of those shorting the pound.
Upon seeing this, George burst into laughter: "Haha, it seems my two partners were holding back. I didn't expect them to have prepared extra funds to give me such a surprise."
Clearly, George regarded Chen Dong's capital flow as an ally.
The more funds flow in, the faster the pound can be shorted, and the more dire the situation becomes for central banks in the United States.
George immediately made a cheerful phone call to inquire about one of his collaborators.
The other party denied the flow of funds.
George was taken aback at first, then he called another partner, the head of Tiger Fund.
This time, George was surprised to find that this sudden and powerful flow of funds was not from his allies.
"How is that possible!"
"This is impossible! No one could have seized this opportunity. Just who is this guy?!"
George's face was extremely pale. He stared at the various data on the big screen, and a chill ran down his spine.
Seeing this, the assistant also became agitated and said, "Boss, we're targeting the British pound, but this bastard is targeting us!"
That's exactly the case!
Those benefits that should have belonged to Soros were quickly taken by others.
George roared angrily, "Increase the stakes! Speed things up! We have to drive the pound down before this bastard does!"
With George's roar, his men began to operate frantically.
However, no matter how much George struggles, the other side always gets there faster.
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