These words were spoken.
Apart from Wangcai, who had a vague suspicion, everyone else looked shocked. They never imagined that a country's central bank would lie so openly.
To them, this was simply a fantasy.
It's important to understand that this is a country's credibility. If even the country's central bank tells outrageous lies, what credibility can it possibly have?
However, those traders who followed Chen Dong the earliest were only surprised for a moment before they began to consider the possibility of what Chen Dong said. After all, in their eyes, Chen Dong was a god-like figure. At least before Chen Dong made a mistake, this superstitious thinking had already taken root in their hearts.
The traders who joined the offshore company later were more curious; they simply couldn't believe that what Chen Dong said was true.
On one hand, there was the myth of Chen Dong's invincibility, and on the other hand, there was the influence of his long-term education; it seemed as if the two were waging war in their hearts.
Suddenly at a loss, I didn't know who to believe.
At that very moment, “Quick, look at the news in Thailand, and the international financial channel. Today, Thailand’s Minister of Finance announced his resignation.”
This shout immediately jolted the traders who were still deep in thought. Although they hadn't figured out why the news of the Thai Finance Minister's resignation would come out at this time, everyone knew that what seemed illogical on the surface was actually based on some clues.
These traders, especially the new ones, looked at Chen Dong with increasing enthusiasm.
"Looks like we need to speed up our short selling of the Thai baht!"
Chen Dong was also taken aback by the news, but quickly realized that the Thai Finance Minister's announcement of his resignation at this time clearly indicated that he could no longer withstand the pressure from within.
Although the timeline differs from the one Chen Dong knew in his previous life, and is two years earlier, it precisely illustrates one thing: Chen Dong's intervention triggered a qualitative change, significantly advancing the timeline.
The Thai government's attitude also proves that they have realized the seriousness of the problem and are eager to find a scapegoat.
The idea lingered in Chen Dong's mind for a few moments before he instructed everyone, "From now on, as long as the exchange rate is not lower than 26 baht to 1 US dollar, we will sell to them as much as they want."
"Okay, boss."
......
At the same time.
Having just announced his resignation, Alawan felt a huge weight lifted from his shoulders, leaving him completely calm. Did he hate anyone? Of course he did; he had been made a scapegoat, a sacrificed victim.
However, it's impossible to say he bears no responsibility whatsoever. During Arawana's years in power, Thailand's economy experienced a severe recession. Of course, on the surface, it all appeared to be a false prosperity, but the data speaks for itself.
For example, this year, the Thai stock market has plummeted, leaving many newly built houses unsold and eventually becoming ghost towns or abandoned projects. In addition, Thailand's once-proud exports have continued to slow, not only failing to grow compared to the same period last year but actually declining. Furthermore, foreign investment has seen a reversal for three consecutive quarters.
Even more critically, excessive speculation inflated the capital pool, leading to unrecoverable loans and widespread insolvency among financial institutions. While regulators implemented technical bankruptcy measures for some institutions, the hole remained unfilled.
All indications suggest that Thailand's economic growth is facing serious problems.
"Perhaps this is why I was abandoned?" Alawan couldn't help but think.
Now that I've actually resigned, I feel an inexplicable sense of relief.
The news of Alawan's resignation immediately shocked all sectors of society.
Fortunately, the timing of this announcement was clever, chosen after the market was closed; otherwise, it would certainly have caused severe market volatility.
However, almost everyone knows that this is just a temporary delay, and what's coming will eventually happen. It's believed that the market will react immediately when it opens tomorrow, and the direction will certainly be negative.
For foreign investors, the main concern is whether the Thai baht is truly safe. After all, the finance minister had previously defended the baht, declaring that the Thai government would definitely safeguard its exchange rate.
But is that really the case now?
...
“25.884, no problem, five billion baht.”
"25.912? Three billion baht? Okay, no problem."
"......"
It is now late at night.
However, the offshore company remained brightly lit, with Chen Dong personally overseeing operations. Everyone had given up their rest and were searching the market for potential trading partners.
Soon, calls were being made from the offshore companies, with the sales amounts and prices reported. As long as the price was below 26 baht to 1 US dollar, these traders didn't haggle and just wanted to clear out their baht holdings as quickly as possible.
The foreign exchange market is a non-stop trading market, with currencies flowing frequently around the world 24 hours a day. Although the Thai baht is not a major currency, it has benefited from Thailand's vigorous opening of its financial sector in recent years, coupled with its booming economy in previous years. In fact, the trading of the Thai baht has expanded from Asia to a global scale.
At this point, some time had passed since Thai Finance Minister Aravon announced his resignation, making it even more necessary to act quickly.
Offshore traders are now looking for counterparties in the foreign exchange market who are willing to buy Thai baht, because the largest market is in Thailand.
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