1。 Exchange Thai baht. Buy a lot of Thai baht in various ways. For example: exchange. For example, I have dollars and you have Thai baht. Let me tell you something: buddy, let's exchange. I want to change $65,438 into 2 baht. Three months later, I changed 2.5 baht into $65,438+0. Whatever you do is a great thing. Don't worry about not buying Thai baht, because there is not enough Thai baht in the foreign exchange market. The Thai government can open a printing machine. After the exchange, spread rumors about the appreciation of Thai baht in the market.
2。 Buy futures and options. Buying a lot of Thai baht and rumors are everywhere, which will inevitably make the Thai baht appreciate and the dollar depreciate in the foreign exchange market. At this time, it must be very cheap to buy a Thai baht put option (one dollar for three baht), because the Thai baht is rising, and no one will think that it will fall below 1:3 (put option: the buyer wants to sell money. Thai baht put option is actually a higher Thai baht price agreed by both parties, and the buyer pays the option fee. If the Thai baht depreciates in the future, the buyer has the right to sell the Thai baht at the agreed high price. Sign futures, for example, the Thai baht is now from 1 to 2 baht to 1 USD to 1.5 baht, and it is still rising. I'm here to tell you, man, we'll sign the futures. After three months, I will change three baht into one dollar. Of course, you will do whatever you want. Three months later, 1 total value of Thai baht 1 dollar, he actually took three Thai baht for one dollar.
3。 Signing a large number of futures options, it is estimated that the Thai baht will rise to the top. Soros began to sell the Thai baht and spread rumors of its devaluation. He booked that the Thai government did not have enough US dollar reserves to buy additional Thai baht. And if the Thai government can't buy the Thai baht sold by a series of financial predators such as Soros, there is only one result: the devaluation of the Thai baht. Once the Thai baht depreciates, it will definitely plummet, because Soros is not selling Thai baht in the later period, but people are rushing to sell the depreciated currency in order to preserve the value. Just like before, people rushed to buy Thai baht in order to appreciate and promote its appreciation.
4。 Earned a lot of dollars: first, the Thai baht rose, Soros threw the Thai baht, and the Thai baht fell, but after all, it was sold at a high price and made a small profit. The second is swap. After three months, the Thai baht was reduced to 1 USD for 5 baht, and I only used 2.5 baht for 1 USD, making a small profit. Third, a large number of choices, we agreed that the standard is one dollar and three baht, and now it has dropped to one dollar and five baht. Soros has the right to sell one to three. He will buy 1 baht with 5 baht in the market, and then continue to use 3 baht for 1 dollar to fulfill the option contract and make a big profit. Fourth, futures, like option contracts, make a lot of money.
At this point, Soros returned home with a full load, but Thailand signed a swap with him and gave him a loan. The original 1 baht was released and returned 1 baht, but it was not as valuable as the original 1 baht. The person who signed futures and options with him originally had 1 USD, but only got back 3 baht, and only got back 0.6 USD in the market, which was a loss; Thai: The money that could have bought a cabbage can only buy half a cabbage, which is a loss; Thai government: You Soros came in with a group of people, and I printed a lot of Thai baht. I took all my foreign exchange reserves with me when I left, but I also threw all the Thai baht back. Domestic inflation and the devaluation of the Thai baht have left many problems and huge losses. You see, Soros didn't bring any benefits here, and he scraped the ground when he left, which was cruel enough.
(The above data are fabricated for convenience of expression only. )
As mentioned earlier, the most fundamental reason is that Soros has abundant funds, which can affect the trend of the foreign exchange market in Little Thailand. Moreover, the Thai baht itself had some problems at that time, and its economic development could not keep up with it, but it wanted to maintain the linked exchange rate, so it had a tendency to depreciate. This gave Soros a chance.
Similar strategies often appear in the hands of market makers in China stock market. In the past few years, the international oil price soared to more than 100, and then plunged to more than 30. Looking closely, many China enterprises have lost a lot of money, which is actually a means for international speculators to play. To play the economy, the most important thing is to look far and deeply. Don't be blinded by the immediate interests, and think more about why he is like this.