Extraordinary Genius Chapter 915
"You all must trust me. The Thai Government only has these tricks. We will surely win!" Soros was speaking to a few main investors.
"Why cant you start from other countries? Why must you target Thailand?" Someone asked.
"The other countries will use the same strategies as Thailand. Only when we win against Thailand, the rest of the countries will be afraid of us! We must let them know that all their tricks are useless against us!" Soros replied firmly.
"But we dont have enough funds. Furthermore, we had suffered losses. If Thai Baht rates return to 24:1, our losses will be higher!"
"No. We suffered some losses now, but compared to our future profits, these losses are nothing. Thailand might seem fine for the time being, but that is because we have insufficient funds. But I know all of you here still have US bonds. If we utilize our bonds, we can easily defeat the Thai Government!"
"What if we fail? Our losses will increase. We can increase our funds, so can the Thai Government. I still think we should use the hit-and-run tactic. We will suppress the currencies of the other countries and withdraw immediately after we make profits. We must not give them time to retaliate.
"We will surely have enough funds this time. I still can get a large amount of funds to join us. This fund is not lesser than 5 billion USD!" Soros said.
"Which hedge fund? Who is the investor?"
"Feng Yu. Microsofts third shareholder and the person who bought the Empire State Building. He still has a Russian friend who will join us."
Soros had planned and waited for this opportunity for three years. He must win at all costs!
A temporary setback will not stop Soros. He will not be defeated and is confident of sweeping through Southeast Asia!
Soros was stopped in March, defeated in May, and this is the third time. He will not fail again!
"If thats the case, we will believe you one more time. Alright. We will go and raise funds now." After a short discussion, the few investors decided to continue believing Soros. After all, Soros had helped them make high profits in the past.
"Boss, there is a high volume of US bonds being sold in the market. The volume is massive." Ralph called to inform Feng Yu.
"Do you know how much they can raise from the bonds?"
"Err I cant find out the exact figure, but it is more than 2 billion USD!" Ralph was excited.
2 billion USD? This amount was what Feng Yu expected. But Feng Yu suspects the actual figure might be more. If this sum of money is added to the pot, and with Feng Yus few billion, the Thai Government will lose, and Thai Baht will plunge!
"Alright. I know. Continue to monitor them and report to me immediately when anything happens. Oh, are there any issues at Microsoft?"
"Nothing, except Mr. Allen complained about you missing the monthly meeting."
Feng Yu was used to it, and he doesnt care. As long as its not Bill Gates who complained about him, he will still keep his seat on the board.
In another two to three years, Lenovo Kingsoft will be ready. At that time, Feng Yu will not care whether if he is one of the directors of Microsoft. He might even sell away all his Microsoft shares.
"What about Amazon? How is their development?"
"They are still trying to build their customer base. Their websites visitors and member registrations had increased a lot, but their sales did not increase. They are still losing money."
Ralph could not understand why his Boss is so concerned about this online bookstore.
"Watch and learn from this websites operation model. It will be useful to me in the future. If there is nothing else, I will hand up."
Ralph will report to Feng Yu via emails every day, and Feng Yu is aware of everything. These are long-term investments, and he does not need to monitor closely. Even if there are slight fluctuations with Microsoft share prices, he will not mind, as Microsoft share prices are increasing every week.
The moment Feng Yu hangs up, a call came in. Its Soros. The current phone lines still do not have a call waiting for services. If Feng Yu is using the phone, other peoples calls will not get through.
"George, why are you free to call me today?" Feng Yu asked.
"Feng, is your funds ready?" Soros asked.
"Almost. My funds will be ready in one week. Why? Are you going to attack Thai Baht again?"
"Yes. I had raised another sum of money. If you can join us, we will succeed!"
The short-term interest rates are very high now. But if they use the short to mid-term lending rates, like one week, one month, etc. they can still crush the Thai Government at lightning speed.
This time, they will use a bigger fund to borrow and dump Thai Baht, and before the Thai Government can react, Thai Baht will be depreciated.
Even if the Thai Government can react in time, they can only use their reserves to stop them. If this happens, the winner will be the side that has more funds.
This time Soros will not allow any countries to interfere. He must spread some rumors in Singapore and other markets to stop them from assisting Thailand.
Once the Thai Baht crash, there will be a chain reaction, and the rest of Southeast Asia will be affected!
"Ok. When are we starting?" Feng Yu laughed and asked. He knew Soros would not tolerate defeat.
"Late June and the winner will be decided within ten days at most!" Soros was very confident. If he still cannot defeat a small country like Thailand with the funds he has, he can forget about sweeping through the rest of the countries in Southeast Asia, and he is not fit to manage Quantum Fund!
"Alright. We will enter the market together. I think we will win this time!" Feng Yu believes the Thai Government will be powerless to stop them. The Thai Government should have less than 20 billion USD in their reserves, and Soros and Feng Yus funds can almost match that amount. There are still other speculators from financial institutions and businessmen joining in to take advantage.
Thai Baht will plummet!
After hanging up, Soros was more confident. The Thai Government and their Central Bank love to boast. You all claim to be victorious? I can still accept those losses, and its nothing to me!
Its only a small victory, and you all are celebrating. Thats only the appetizer! This time, I want to see how you all are going to stop me!
Feng Yu called He Zhaoji. "Old He. Get ready for our funds. We are going to all-in soon!"