One of the most representative international financial speculators is Soros, the financial tycoon.

During the 1997 Asian financial crisis, the Thai baht was targeted by these Wall Street financial giants.

What they do is to buy a large amount of Thai baht through many institutions, many channels, and many accounts.

And then suddenly sell it sharply one day, and then the Thai baht price will rise in the international market. Take a big dive. .

In order to maintain the stability of its own currency, the Thai government has to use US dollars to buy Thai baht

But the foreign exchange reserves of a small country cannot compete with the huge funds of these international financial speculators. Was quickly defeated. . The Thai baht has depreciated sharply.

They borrow the currency at the currency's interest rate; sell the currency in the spot market and exchange it for U.S. dollars; and lend the exchanged U.S. dollars at the U.S. dollar interest rate. Speculators will profit when the currency depreciates or the interest rate differential between the currency and the U.S. dollar widens. International speculators use the joint operations of the foreign exchange market and the stock market to attack the other party and bring down the exchange rate, achieving the ultimate goal of transferring the other party's wealth to their own hands.

To put it simply, it is to profit from the exchange rate difference, as well as the stock market, and the stock market of the country being attacked will plummet.

Hurricane Soros quickly swept through Indonesia, the Philippines, Myanmar, Malaysia and other countries. The Indonesian rupiah, Philippine peso, kyat, and Malaysian ringgit have all depreciated sharply, leading to the collapse of factories, bankruptcies, and rising prices.

Hurricane Soros swept through Southeast Asia and wiped out tens of billions of dollars of wealth in one fell swoop, turning decades of economic growth in these countries into ashes.