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"The reason why we in Thailand can maintain such a high economic growth rate is because our Thai people are hardworking and willing to work hard, our people are from full of wisdom, and it is also a gift given to us by the great Buddha!"

"So our great country will continue to flourish, and will become even greater and stronger in the future. Therefore, our financial industry and our real estate industry will also develop at the same rapid pace!"

"As financial practitioners, we must understand these things ourselves and must firmly believe them. Otherwise, how can we make your customers believe and how can we give our customers the money to us with confidence?"

…………

After listening to a passionate internal training class, Bala Chinnava returned to her job.

Bala Chinnava is a staff member of Pangu Bank in Thailand.

The name is not wrong, it is Pangu Bank. Because Thailand mainly focuses on agricultural exports, many of their domestic banks are also related to agriculture. China's Agricultural Bank is still one of the largest banks!

Since 1992, because Thailand's exchange rate policy has killed the US dollar, as the exchange rate of the US dollar increases, the Thai baht exchange rate has also continued to increase, which has caused Thailand's exports and industry to be severely damaged. Thailand's economic development has gradually shifted from industry to the development of real estate and financial industries. In just four years, the average real estate price in Thailand has increased by about 4 times.

Even fools can see that the moisture here is too high.

But even so, from institutions or even ZF, they keep collecting funds to the real estate or financial industry. In the case of micro-exports in October, they can only rely on the real estate and financial industry to continue to maintain the country's development.

Just when Bala Chinnava was about to continue to fool the next customer and invest the funds into a fund under their bank, Bala Chinnava realized that the person who came to find him did not seem to want to invest money to buy the fund.

The other party seemed to want to take out a loan.

"Sir, are you sure you want to mortgage your loan to this factory in Bangkok?" asked Bala Chinnava repeatedly.

"No," said the other party.

"Are you planning to borrow money to trade stocks?" Bala Chinnava asked with a smile. The stock market in Thailand is now hot, and countless rumors of getting rich overnight through the stock market wandering around Thailand. Therefore, there are many examples of people using their various assets to mortgage loans in exchange for funds to trade stocks.

So when he saw that the other party wanted to use his company for a mortgage, Bala Chinnava asked with a smile.

"It's almost the same!" The other party smiled. For some reason, Bala Chinnava always felt something was wrong once, but she didn't know why.

Afterwards, Bala Chinnava reviewed the other party's various procedures and documents, and after confirming that there was no problem with these things, she signed a one-year loan agreement with the other party.

The other party used his own property as collateral and borrowed 12 million baht, while Pangu Bank charged 6% interest. This is a very normal loan transaction with no problems.

But for some reason, an hour later, another person came to handle the loan business, and they also used an asset in Thailand as a mortgage loan, but this time it was a loan of 60 million baht.

Bala Chinnava also helped the other party to complete the loan procedures after the review was no problem.

As a result, when the day ended, Bala Chinnava was surprised to find that he had handled four loan businesses in one day. This was the day when Bala Chinnava had handled the most loan businesses in the past year.

However, thinking about the fact that there were more times before and the stock market is hot now, Bala Chinnava didn't think too much, just thought that all the money was invested in the stock market.

When I got off work, my colleagues chatted in the rest room. Only then did Bala Chinnava realize that his colleagues had also received a large amount of loans, and the total amount was more than a week.

And all of these are short-term loans, the kind that only borrows for a few months.

However, no one takes these things to heart. After all, although such things are rare, they are not without them.

And the bank is also very happy. Once the money is lent out, you can receive profits. If there is no profit, there will be industrial mortgages. This is not a matter of not losing money!

In this way, about a month passed, and Bala Chinnava, who was handling loan business for a new customer, did not make any approvals when submitting a report to the head office.

The loan with complete procedures and complete mortgages was not approved. This is a situation that Bala Chinnava had never seen before. Bala Chinnava asked curiously, and then he learned from the strange president that the head office’s baht had been lent out. After all, the reserve funds were reserved, so the head office asked to tighten the loan business. Simply put, the head office actually did not have enough baht to borrow.

"There's a problem!" The president touched his head, then clapped his hands suddenly and said, "I understand!"

"What do you understand?" asked Barra Chinnava in confusion.

"This is a large amount of funds that are about to pour into the stock market. The stock market is about to continue to soar. I will buy stocks quickly!" After the president said that, he went to sell stocks excitedly. When Bala Chinnava heard this, he felt that it made sense. Don't be busy, and invest all his funds into the stock market, looking forward to a day when he gets rich overnight.

What these people absolutely don't know is that a few days ago, a foundation, borrowed more than 100 billion baht from Thailand's central bank in a way that mortgaged more local assets.

What's even more crazy is that some people, who even have nothing to collateral, just borrow a large amount of Thai baht from some banks with their own foundation's signature and higher short-term exchange rates. Many banks' Thai baht fund pools were even borrowed.

Some banks cannot even withstand the temptation of high short-term interests, and even use their own dollars to buy some Thai baht from the money market to lend it to the other party, which in turn causes the Thai baht exchange rate to rise a lot.

Everything seems so hot, it seems that another financial prosperity is coming.

Unfortunately, it was not the prosperous times, but Soros and Soros's quantum funds.

In June 1997, when another morning in Thailand came, a 10 million baht sell order appeared on the market in the Thai currency trading market.

The order was quickly eaten for US$400,000, but when the order was eaten, another order of 10 million baht was thrown into the market.

Of course, all this seems very normal. No one can guess that a huge storm that is about to sweep the entire Southeast Asia has arrived.

Historically, Thailand's market crash began in February 1997. This world was postponed to June because of Boss Jia, this little butterfly.

But what is coming is coming after all.