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The president's footsteps faded into the distance in the corridor, but the press conference room behind him erupted in chaos.

Reporters rushed to the door, vying to be the first to send out their stories.

Telegraph machines, telephones, and satellite transmission equipment were activated simultaneously, transmitting this explosive news to every corner of the world.

New York, Wall Street.

The stock market opened as usual, and investors began their trading activities, while traders got busy.

However, the television in the trading hall suddenly began broadcasting a speech by the Mexican president, and the previously noisy hall instantly fell silent.

Everyone stopped what they were doing and stared intently at the screen.

Mexico declares debt default!

"We are unable to repay $268 billion in foreign debt, and more than $800 billion in debt is due by the end of the year!"

"The Latin American economic miracle has collapsed!"

The trading hall was initially deathly silent, then erupted in terrified screams.

"Sell! Sell the Mexican pesos!"

"Sell all Mexican bonds!"

"Close the position! Close the position immediately!"

The telegraph machine was spitting out paper tapes frantically, the telephones were ringing incessantly, and the traders were shouting themselves hoarse, plunging the entire hall into chaos.

Minutes later, the Mexican peso began to plummet.

1美元兑换12.5比索……15比索……18比索……20比索……

The numbers plummeted like a kite with a broken string, showing no signs of stopping.

Institutional investors holding Mexican bonds and stocks watched their assets shrink instantly, their faces turning pale.

JPMorgan Chase holds more than $5 million in Mexican bonds, the value of which has now fallen by half.
Wells Fargo suffered even greater losses, with its exposure in Mexico reaching $8 million, and its stock price plummeted 12% immediately after the market opened.

Citibank, on the other hand, was prepared and sold off the vast majority of its assets in advance, so its losses were not significant.

The Mexican Stock Exchange is a living hell.

Within just ten minutes of opening, the Mexican IPC index plummeted by 15%, triggering the circuit breaker mechanism for the first time in history.

Trading resumed after a 30-minute halt, but the index continued to plummet, triggering another circuit breaker.

The Mexican stock market triggered circuit breakers three times in a single day, setting a world record.

Bank stocks collectively collapsed, with Banco Nacional de Mexico plunging 40%, Banco Comercial de Mexico plunging 35%, and Banco Nord plunging 38%.

Energy stocks also suffered greatly, with the share price of Pemex, Mexico's state-owned oil company, plummeting by half.

Those blue-chip stocks that were once known as the "Mexican Miracle" have now become hot potatoes, and are being frantically sold off by investors.

The major listed companies that have invested heavily in Mexico were also affected, and their stock prices plummeted.

Brooklyn, New York, is the most populous borough in New York City and is known for its poor safety record. It is also home to a high concentration of public housing and low-rent housing.

George Soros, the renowned chairman of the Quantum Fund, is currently residing in this area.

A week ago, the luxury villa in Manhattan's Upper East Side where he had lived for over a decade was forcibly auctioned off by the court.

The furniture, artwork, and antiques, along with the multi-million dollar house, were all auctioned off to pay off debts.

None of the bankers who had once called him brother were willing to lend a helping hand.

Those media outlets that once flocked to him are now busy making him a laughing stock.

Politicians who had previously had business dealings with him now avoid him like the plague.

George Soros has fallen completely from his pedestal on Wall Street.

Now, he is huddled in a cramped, low-rent apartment in Brooklyn.

Outside the window was a noisy street, with the occasional sound of sirens and arguments.

This place is a completely different world from the elegance and tranquility of Manhattan's Upper East Side.

In two hours, he will need to go to court again to attend a hearing regarding his personal bankruptcy.

This was the most humiliating moment of his life.

He was once a guest of honor in various courts, attending hearings as an expert, offering his opinions and making pronouncements.

Now, he is the one in the dock, having to explain to the judge why he is unable to repay his debts and plead with his creditors for a way out.

Soros sat on the worn-out sofa, looking out at the gray sky.

The room contained only a bed, a table, a chair, and an old television set.

This is all the wealth he has now.

He once owned a mansion on Manhattan's Upper East Side, a vacation home in the Hamptons, an apartment in London, and a ski lodge in Switzerland.

His study is adorned with genuine Picasso paintings, his wine cellar holds Lafite and Romanée-Conti, and his garage is filled with Rolls-Royces and Ferraris.

Now, everything is gone.

The television was still broadcasting news about Mexico's debt crisis.

On the screen, the chaotic scenes on the streets of Mexico City were shocking.

Banks were vandalized, shops were looted, and crowds clashed with police in the streets.

The reporter described the “most serious debt crisis in Latin American history” in an excited voice.

Soros looked at these images and suddenly laughed.

That smile contained bitterness, mockery, and a hint of indescribable complexity.

“I told you, the Mexican government wouldn’t last long, they’d default sooner or later,” Soros muttered to himself, a bitter self-mockery in his voice. “But now, I can’t even afford a celebratory drink.”

He has accurately predicted market trends countless times, and he has been greedy when others are fearful and fearful when others are greedy.

He thought it would be the same this time.

He thought he was just unlucky, that the timing was wrong, and that he had underestimated the young man named Lin Haoran.

But now he understands.

It wasn't bad luck, it wasn't bad timing, and it wasn't that we underestimated our opponents.

It was his own fault; he was too greedy, too confident, and too unscrupulous.

He thought he could control everything, but he didn't realize that some bottom lines, once crossed, offer no turning back.

On television, reporters continued to broadcast the latest news.

"Mexican Finance Minister Salinas has just announced that he has sent a formal invitation to Hong Kong tycoon Lin Haoran to visit Mexico and discuss business cooperation, and plans to award him the title of 'Honorary Citizen of Mexico'."

Salinas stated, "Mr. Lin Haoran chose to support Mexico during its most difficult time, and his trust has given the Mexican people tremendous confidence..."

Soros closed his eyes and leaned back on the worn-out sofa.

“Lin Haoran…” he murmured to himself, “You won, and you won beautifully.”

He knew that the young man must have made a fortune from this crisis.

He also knew that the young man must now be treated as an honored guest by the Mexican government and regarded as a savior by the media.

He himself could only huddle in a low-rent apartment in Brooklyn, waiting for the court's bankruptcy hearing.

Fate is truly ironic.

Mexico City.

Panic had already spread to the streets as soon as the president's televised address ended.

On Reform Avenue, people poured out of office buildings, gathered together, and discussed the matter.

The president's speech was being played repeatedly on the radio, and a crowd of tense citizens gathered in front of the television.

"The peso is about to collapse!"

"Go to the bank and withdraw the money!"

Someone shouted, and the crowd instantly stirred.

A long queue quickly formed outside the bank, with people anxiously waiting to withdraw their savings.

Some people even brought suitcases, ready to withdraw all their cash, fearing that a bank failure would leave them with nothing.

But soon they discovered that the cash on the bank counter was running low.

"Sorry, we've run out of cash for today. Please come back tomorrow."

"Tomorrow? How much will the peso be worth tomorrow?"

Angry depositors pounded on the counter, but bank staff could only shake their heads helplessly.

This happened so suddenly that the Mexican people had no time to prepare.

They assumed that the government would, as before, always find a way to overcome the difficulties.

They believed that what Wall Street analysts said—that "the most dangerous moment has passed"—was true.

They thought that if they just waited a little longer, everything would be alright.

But now, it's all too late.

More and more people gathered in front of the bank, and some started pushing and shoving, while others began cursing, and the scene gradually got out of control.

Several hot-blooded young men tried to force their way into the bank, but were stopped by security guards, and a fight broke out between them.

"Let us in! That's our hard-earned money!"

"Your bank and the government are in cahoots! You knew something bad would happen, didn't you!"

Police arrived at the scene and tried to maintain order, but the angry crowd wouldn't listen.

Some people started throwing stones at the police, and others started smashing the bank windows.

The piercing sirens, angry shouts, and children's cries mingled together, plunging the entire neighborhood into chaos.

Meanwhile, at Mexico City International Airport.

Several private planes are taking off urgently. Foreign businessmen who have invested in Mexico are now fleeing the collapsing country with their families and valuables.

"Hurry, or it will be too late!"

A middle-aged man in a suit and tie was jogging along, pushing a suitcase, followed by his wife and children.

They didn't even have time to go through the normal check-in process and rushed onto the plane through a special channel.

Similar scenes are playing out repeatedly on the tarmac.

One private jet after another took off, carrying investors who had once been optimistic about Mexico's future to Miami, New York, and London.

In the waiting hall, ordinary passengers stared blankly at everything.

They didn't realize that these wealthy people who fled were taking away not only their wealth, but also the hope of the country.

Chaos has erupted throughout Mexico, because the president announced a debt default, and the country is in complete chaos.

Similar scenes were unfolding simultaneously in major cities across Mexico City, Monterrey, Guadalajara, and elsewhere in the country.

……

When the Mexican president announced the breach of contract, it was already the evening of August 12th in Hong Kong.

On such a special day, Lin Haoran naturally kept a close eye on the developments in Mexico.

In fact, he was also a little worried that his intervention in Mexico, which caused the crisis to break out earlier, might affect the outbreak of this crisis.

Now, when he saw the Mexican president announce the debt default, Lin Haoran finally felt relieved.

He leaned back in his chair in the study and let out a long sigh of relief.

History, in the end, still proceeded along its predetermined trajectory.

Although his early intervention exposed Soros's conspiracy ahead of time, allowed the Mexican government to receive the IMF loan ahead of schedule, and temporarily restored market confidence.

But none of those fundamental problems have been solved.

What's meant to happen will eventually happen.

Lin Haoran picked up his teacup and took a small sip.

The aroma of Da Hong Pao tea lingers on the lips and teeth, leaving a sweet aftertaste.

Tonight, he didn't go to the villa on Old Hilltop Road, but returned to the villa on Shi Xun Road.

In about a month, Guo Xiaohan's due date will arrive, and he will need to spend more time with her.

The study door was gently pushed open, and Guo Xiaohan walked in, her belly bulging.

She was wearing a loose nightgown and had a gentle smile on her face.

"Haoran, are you still awake?"

Lin Haoran stood up and helped her to sit down on the sofa.

"I'm checking news from Mexico. Why aren't you asleep yet?"

Guo Xiaohan leaned on his shoulder and whispered, "I can't sleep, I wanted to keep you company."

Lin Haoran smiled and gently put his arm around her shoulder.

The two sat quietly for a while, then Guo Xiaohan suddenly asked, "How's it going in Mexico?"

Lin Haoran gave a brief explanation.

After listening, Guo Xiaohan remained silent for a few seconds, then said, "Those ordinary people are really pitiful."

Lin Haoran nodded and said, "Yes, they did nothing wrong, yet they have to bear all of this."

Mexico's debt crisis is a classic example of the "resource curse".

They once thought they had discovered endless wealth, that oil would bring them everything, and that borrowing money to invest in the future was the right choice.

But they forgot that wealth is never borrowed, but accumulated little by little.

Although Lin Haoran felt sympathy, he would not show any mercy because of it.

In financial markets, compassion is the most useless thing.

Just then, the telephone rang in the study.

Seeing this, Guo Xiaohan stood up and said, "You go ahead with your work, I'll go back to my bedroom and wait for you."

Guo Xiaohan has always been very sensible when it comes to Lin Haoran's work.

She knows when to appear and when to leave.

This is her intelligence, and it's one of the things Lin Haoran admires most about her.

Lin Haoran nodded, watched her leave the study, and then answered the phone.

"Boss, it's me." Su Zhixue's voice came from the other end of the phone, filled with barely concealed excitement.

"what happened?"

Su Zhixue took a deep breath, his voice trembling slightly.

"Boss, we've hit the jackpot! We've really hit the jackpot!"

Lin Haoran smiled.

"Be more specific."

Su Zhixue excitedly said, "After the Mexican president announced the debt default, the peso immediately dropped by more than 37%! Our position has almost doubled! It is now worth at least $50 billion!"
And it's still falling! At this rate, it might continue to fall tomorrow!

Lin Haoran nodded.

$50 billion means that if they start closing their positions now, they can directly make $20 billion.

They've already made $20 billion in less than an hour since announcing the default.

Lin Haoran held his teacup, his smile deepening.

But he didn't answer immediately; instead, he remained silent for a few seconds.

Su Zhixue waited on the other end of the phone, knowing his boss was thinking.

After a while, Lin Haoran slowly said, "No rush, this is just the beginning. The market panic has not been fully released yet, and the peso will continue to fall. Wait until tomorrow, the day after tomorrow, until more bad news comes out, until those institutional investors can't hold on any longer and start liquidating, and the price will be even lower."

Su Zhixue said with emotion, "Yes, this situation is not like the farce that Mr. Soros staged before. Although the market panicked that time, it was just a war of words after all, and everyone knew that someone was manipulating things behind the scenes."

This is a genuine debt default, a real crisis, and the level of panic is on a completely different scale.

Lin Haoran nodded and said, "So, this opportunity is even greater than last time. Last time we made 32 billion from 15 billion US dollars. This time, our goal is to triple it, or even more."

Su Zhixue took a deep breath.

"Boss, how low do you think the peso will eventually fall?"

Lin Haoran thought for a moment and said, "Based on historical experience, for a debt crisis of this magnitude, a 37% devaluation of the currency is just the beginning, and it will inevitably fall even more in the end."

Mexico's foreign exchange reserves are almost depleted, and the government lacks the capacity to intervene in the market. Once institutions holding Mexican bonds are forced to liquidate, the peso will continue to fall.

Su Zhixue said, "Then when are we going to wait?"

Lin Haoran said, "No rush. We'll wait until the market is at its most panicked, until those institutions can't hold on any longer and start liquidating, until the peso hits rock bottom, and then we'll slowly close our positions. Remember, what we want is not the fastest, but the best."

In reality, in another world, the Mexican debt crisis would eventually depreciate from 12.5 pesos to 1 dollar to 150 pesos, a depreciation of about 500% from the beginning of the year.

This means that the current plunge is far from over.

Lin Haoran picked up his teacup, took a small sip, and a deep light flashed in his eyes.

He knew the trajectory of history.

He knew how low the peso would fall.

He knows when the real bottom is.

This information is more valuable than any amount of money.

Of course, the world may change because of him.

But no matter how things change, Lin Haoran believes there won't be much difference.

Therefore, Huanyu Investment Company doesn't need to rush to close its positions so early.

There's no need to worry about things like "taking the money and securing it" for now.

Su Zhixue replied, "Understood, boss. I will have the team keep an eye on it 24 hours a day."

Su Zhixue's adoration for his boss was unparalleled.

When his boss asked him to make a second round of strategic planning, he was worried that a crisis might break out in Mexico, given the positive market outlook, bullish sentiment from Wall Street analysts, and the continuous release of positive news from the Mexican government.

He even wondered what would happen if the boss made a wrong judgment, and what the boss's losses would be.

But now, it turns out, the boss was right.

Moreover, it's ridiculously accurate.

The peso plummeted 37% in one hour, triggering a stock market circuit breaker and plunging the entire country into panic.

Everything was exactly as the boss had predicted.

Su Zhixue took a deep breath and exclaimed into the phone, "Boss, I'm convinced, I'm really convinced."

Lin Haoran laughed and said, "What are you surrendering to? This is just the beginning. Once this wave passes, we have even bigger plans."

Su Zhixue's eyes lit up, and he asked curiously, "A bigger plan? Boss, you mean..."

Lin Haoran did not answer directly, but said, "Keep an eye on this one first. When the peso hits rock bottom and Mexican confidence completely collapses, that will be the time for us to close our positions."

After closing out the positions, there are more important things to do.

Su Zhixue nodded and said, "Understood, I will keep a close eye on it."

After hanging up the phone, Lin Haoran leaned back in his chair and closed his eyes.

Of course, there are bigger plans.

Once this harvest is complete, the amount of money he has earned in Mexico may reach nearly 10 billion US dollars or even more.

This money is enough for him to do many things. (End of Chapter)