1930 george soros was born in Budapest in August. His real name is Gyoumlrgy Schwartz, a philanthropist, currency speculator and stock investor.

He is currently Chairman of Soros Fund Management Company and Open Society Institute, and was a member of the Board of Directors of the Foreign Affairs Committee. In the United States, it is famous for raising a lot of money to try to prevent George Bush from being re-elected. The speculative fund led by him all his life made waves in the financial market, tumbling over the river and scraping away the wealth of many countries.

Soros once raided Hong Kong's financial market at 1997, causing the exchange rate of the Hong Kong dollar to fall all the way and the financial market to be in chaos. The Hong Kong Monetary Authority immediately entered the market, and the central government fully supported it. Under a series of counterattacks, Soros's "campaign" in Hong Kong failed and suffered heavy losses.

Extended data:

Soros attacked Hong Kong.

In mid-July, 1997, the Hong Kong dollar suffered a lot of speculative selling, and the exchange rate of the Hong Kong dollar was hit, all the way down to the psychological barrier of 1 US dollar against HK$ 7.7500. Hong Kong's financial market is in chaos, and the front doors of major banks are crowded with people running, so the Hong Kong dollar is in a hurry for the first time in many years. Hong Kong monetary authorities immediately entered the market, forcibly intervened in the market and bought a large amount of Hong Kong dollars, keeping the exchange rate of Hong Kong dollars above the psychological barrier of 7.7500 Hong Kong dollars against the US dollar.

In the first week, it did have the expected effect. But soon, the exchange rate of the Hong Kong Hall against the US dollar fell below the HK$ 7.7500 mark. The Hong Kong Monetary Authority once again used its foreign exchange reserves to fully intervene in the market, and the exchange rate of the Hong Kong dollar rose above HK$ 7.7500 again, showing its strong financial strength (as of the end of February, Hong Kong's foreign exchange reserves stood at US$ 92.8 billion, ranking third in the world, second only to Japan and China [6]? )。 Soros's first exploratory attack failed under the strong defense of the Hong Kong Monetary Authority.

At this time, Soros has just finished a beautiful "sweeping war" and swept the entire financial market in Southeast Asia. This time, his hand even reached out to the financial markets all over the world, but Soros is by no means the kind of person who will give up easily. He began to buy a lot of Hong Kong dollars, ready to reproduce the glory of the battles in England and Southeast Asia.

But this time, Soros's decision is not wise, because he may forget to consider Chinese mainland behind the harbor. The foreign exchange reserves of Hongkong and Chinese mainland have reached more than US$ 200 billion. Together with Taiwan Province Province and Macau, the foreign exchange reserves are not less than US$ 374 billion. Such a strong strength is not comparable to that of Britain, Thailand and other countries. The odds of winning this attack on the Hong Kong dollar are slim.

For Hong Kong, maintaining a fixed exchange rate system is a guarantee to maintain people's confidence. Once the fixed exchange rate system falls under the impact of international hot money led by Soros and others, people will lose confidence in Hong Kong, thus undermining its prosperity. Therefore, defending Hong Kong's monetary stability is doomed to be a life-and-death battle. The Hong Kong government will fight back against any challenge to the Hong Kong dollar at all costs.

1July 2, 9971day, Soros began to launch a new round of attacks. On the same day, the three-month forward premium of the US dollar against the Hong Kong dollar rose by 250 points, and the three-month interbank offered rate of the Hong Kong dollar rose from 5.575% to 7.06%. The next day, the Hong Kong Monetary Authority immediately planned a counterattack. The Hong Kong government raised the interest rate of the Hong Kong dollar by issuing a large number of government bonds, which in turn pushed the exchange rate of the Hong Kong dollar up sharply against the US dollar.

At the same time, the Hong Kong Monetary Authority gave verbal warnings to two banks suspected of speculating in Hong Kong dollars, which made some Hong Kong dollar speculators tremble and finally chose to quit the Hong Kong dollar speculation team, which will undoubtedly weaken Soros' speculative power. When speculative selling of the Hong Kong dollar began again, the Hong Kong Monetary Authority sharply raised short-term interest rates, which led to a surge in overnight lending rates.

Then Hong Kong's Hang Seng Index dropped from the peak 16673 to 6660, a drop of 60%, while Soros shorted the Hang Seng Index a lot beforehand. Please make a rational judgment.

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