July 1, 9:00 a.m.
Wall Street, Gale Capital Investment Company.
"Is everyone here?"
In the conference room of Gale Capital, Kyle sat in the first seat and looked around at the people.
"Boss, all 23 financial department employees of Gale Capital are now in place."
The man who spoke was named Henry Jugenburg. He was 45 years old, of Jewish descent, had 20 years of experience in international finance, was a senior investment manager, and currently served as the president of Gale Capital.
Gale Capital?
That's right, it's also a company under Kyle's name!
In the United States, especially on Wall Street, there are countless investment companies. As for obtaining financial industry licenses, if you have money, you can get several in a day. Therefore, it is easy for Kyle to obtain a company with a financial license.
By spending more than $1 million, Kyle became the boss of Gale Capital.
Moreover, this incident happened three months ago. Knowing about the Asian financial crisis, Kyle was of course very concerned, so he entered the market early to make arrangements.
"Henry, now tell me, how much foreign currency do we have so far?"
Kyle said in a deep voice.
Upon hearing this, Henry Jugenburg said solemnly, "Boss, so far, we've raised a total of $2 million worth of Thai baht, $800,000 worth of Singapore dollars, $700,000 worth of Indonesian rupiah, $1.5 million worth of Japanese yen, $900,000 worth of Korean won, and over $3 million worth of small currencies from various Southeast Asian countries and regions. Our total foreign exchange holdings are over $8.9 million."
Kyle nodded.
At the same time, I also thought about it in my mind.
For the Asian financial crisis, Kyle prepared a total of 20 million US dollars of funds, of which 8.9 million US dollars have been exchanged, and there is still 11.1 million US dollars of reserved capital.
Of course, Kyle also prepared a considerable amount of margin in advance, otherwise, the bank would not provide you with leverage operations at all.
"That's enough!" Kyle said in a deep voice.
Is that enough?
Of course it is enough!
It's not that Kyle couldn't invest more money. He could have put out $50 million or even $80 million at once, but Kyle didn't dare to do so!
The risk of speculating in foreign currencies is too great!
The financial market is ever-changing and volatile.
Even if you're a time traveller, familiar with the entire course of the Asian financial crisis down to the tenth of a decimal point, those financial tycoons with billions of dollars in capital aren't fools! On the contrary, they're incredibly shrewd. With their skills, they can quickly detect market fluctuations and adjust hundreds of plans in a fraction of a second, easily wiping out your funds!
Therefore, even if Kyle prepared hundreds of millions of dollars in capital, it would be useless and even more dangerous!
Moreover, if your capital is too large, it will more easily attract the attention of many international foreign currency buyers, which will be counterproductive.
Kyle had no choice but to act cautiously!
"Now, I declare that from this moment on, all mobile phones, telephones, emails, instant messaging and other means of communication will be shut down for at least one week."
"All entrances and exits of Gale Capital are guarded by security personnel I have arranged."
"All daily necessities will also be arranged by my people."
"OK?"
After Kyle's powerful words fell, more than 20 people present nodded.
These conditions, which seem extremely harsh to ordinary people, are normal hype in their eyes.
Well, normal operation.
Following Kyle's order, the entire conference room fell into an extremely calm state for a moment.
....
The next day.
Before the foreign exchange market opens...oh no, generally speaking, the foreign exchange market is different from the stock market, it trades almost 24 hours a day.
On this day, Kyle issued his first order, investing $3 million worth of funds to short the Thai baht.
"Using 100 times leverage, an investment of 3 million US dollars, converted into foreign currency worth 300 million US dollars, the bank margin is 1%," Kyle said loudly.
Wow!
One stone can cause a thousand ripples!
"Boss, is 100x leverage too high? How about trying 10x leverage first?" a senior trader immediately said.
"No! Just 100x leverage!"
Kyle was extremely determined.
Henry, president of Gale Capital, agreed with Kyle's decision. He said, "I support the boss's decision. The Thai financial market is extremely hot right now. I've noticed a large amount of international hot money has been pouring into the Thai market recently. I estimate there's a 60% chance they're shorting the market like we are. This is a once-in-a-lifetime opportunity."
"Also, with the impact of the Thai real estate bubble, the Thai financial market has become extremely unstable. The Thai authorities will adjust the foreign exchange rate. This is our opportunity!"
Upon hearing this, Kyle praised Henry loudly.
Henry is not a time traveller, he relies entirely on his vision.
Immediately, many other people present also voiced their support.
Kyle was relatively calm. You know, today, many international foreign exchange buyers use leverage of up to 400 times to operate.
....
Not long after.
The Thai authorities held a press conference and announced that they would abandon the fixed exchange rate system and implement a floating exchange rate system!
As soon as the news came out, Kyle was ecstatic!
No!
To be precise, all international foreign exchange buyers in the Thai market have gone crazy.
This is about getting rich!
For a time, billions, tens of billions, and even hundreds of billions of dollars of capital rushed into the Thai foreign exchange market, and Kyle of course joined in.
17%!
Because the Thai authorities did not have sufficient US dollar reserves, the exchange rate of the Thai baht against the US dollar fell by 17% in less than a day, causing chaos in the foreign exchange and other financial markets.
The entire Thai foreign exchange market has become a feast for countless international foreign exchange buyers!
"Boss, we're rich!"
"In just one day, the Thai baht depreciated by 17%. It's not hard to imagine how crazy the market will be next!"
"That's right. Without sufficient foreign exchange reserves, the Thai government is unable to cope with the numerous financial giants. Many people will rush to take a bite of the next big piece of fat meat."
Henry Eugenburg and others were immediately excited.
They were excited, and so was Kyle.
In just less than a day, Kyle made tens of millions of dollars. Is there anything crazier than this?
Even if there is, Kyle doesn't want to think about it at all now!
So crazy!
"Guys, don't let your guard down!"
Kyle said loudly, "We've just started to dig into this lucrative piece of the Thai market. Next, we'll adjust our leverage and operate with 10-30 times leverage. We need to proceed steadily and cautiously to prevent ourselves from being swept away by the big sharks and oligarchs. Guys, this is just the beginning. It's not hard to predict that in addition to the Thai market, Southeast Asian countries like Singapore, Indonesia, and the Philippines will also become battlefields!"
"Yes, boss!"
Everyone responded in unison.
They are also quite excited now. The boss makes money, and they can also get more dividends.
At the same time.
Many investment tycoons and foreign exchange buyers on Wall Street also celebrated at this moment.
A feast for the gluttons!
They are all investing madly in the Southeast Asian market!
....
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