In Tokyo, even the most fierce dragon is afraid of the hatchet

The group went into forty-eight banks in the UK.

Nao Nagano carelessly mortgaged these assets to the bank and borrowed pounds.

The reason is.

Optimistic about the economic development of the UK.

Want to invest for the long term.

then.

The original payment of 30 million pounds was inflated to 430 million pounds by 48 banks.

Zhang Weiming was completely screwed.

I never dreamed that a property could be loaned to multiple banks.

In Naoto Nagano's eyes, the financial loopholes of this era were like sitting ducks. After all, Internet information was not well developed at that time, and there was a long time lag in the aggregation of customer information between the Bank of England and commercial banks.

unconsciously.

Half a month has passed.

This half month.

The pound sterling held the support level of 1.78 by raising interest rates three times in a row to %.

this day.

National Westminster Bank.

This bank, which has always served the royal family, received news from the royal family.

No hesitation.

The bank president called the director of the investment department.

Borrowed £1 billion from the Bank of England.

Almost at the same time.

The Royal Bank received the same news...

......

the next day.

Lamont vowed on television that it was time for the people of the British Empire to defeat the bad guys who deliberately undermined financial stability.

This country has never been afraid of provocation in its history.

We once defeated the invaders at the cost of cannon fodder, and today, we will definitely defeat those bastards again.

I believe that as long as everyone unites, any malicious conspiracy will fail.

And at this time.

A young man.

I walked into the London Foreign Exchange Exchange with enthusiasm.

Thinking of the Finance Minister's inspiring words, he felt an urge to go to the battlefield.

Yes!

The country's financial system is under attack.

But we beat Germany.

Defeated the invaders.

As long as we unite as one, no enemy is invincible.

Take out all your funds.

The young man bought the British pound with great enthusiasm.

It was like being infected before the war.

Almost at the same time.

More people also went to banks and bought pounds to support the stability of the pound's exchange rate.

But at this time.

After finishing his speech at the press reception, Lamont hurried to the corner, took out his phone and called his mistress Lina.

"Baby, listen to me. Go to the foreign exchange futures market and short sell some pounds right now. It's the most critical moment."

"..."

The day.

The battle to defend the pound has officially begun.

The electronic Zerg mobilized more than 10 billion in funds to sell, and the Bank of England paid a heavy price, but was still unable to stop the decline of the pound.

The day.

The pound plunged 6 percent and the resistance level was broken.

the next day.

Like a burst dam.

The pound sterling accelerated its decline, with the drop widening to 13 percent.

A foreign exchange trading department.

There was a young man in his twenties who looked at his liquidated account blankly. His blood was frozen by the result and his eyes were filled with confusion.

Although, the pound is a completely foreign exchange market.

But no matter how complete the market is, those who hold pounds are all British people.

At this time, everyone will definitely unite to support their country, so why is the pound still falling so much...

......

An ultimate question lingers in my mind.

Everybody is going long.

The pound has depreciated so much.

So who is shorting it?

......

Chapter 416: Prelude to the Financial Crisis

That night.

The British Chancellor of the Exchequer held a press conference.

Heavy announcement.

The defenders of the pound failed.

The UK will withdraw from the ERM community.

It was a day of partying for the bears.

on the newspaper.

The front page headline featured a photo of Soros, the representative of short selling.

This hedge fund tycoon, holding a glass of red wine, wrote the caption: The pound plummeted and I made a billion dollars!

Three months later.

The end of the year has come again.

Tokyo.

It’s called life insurance.

Nao Nagano stood at the promotional stand.

He took the vice president's seal handed over by the parachuted-in president of the Ministry of Finance and bowed to express his gratitude.

And the other side.

Then bow 90 degrees to show your respect and gratitude.

No one was dissatisfied with Naoio Nagano serving as vice president and president of the Kansai branch at his age.

The battle for the pound.

According to World Bank estimates.

The Bank of England lost around £4 billion.

But no one has counted the number of young British people who suffered margin calls after buying long positions in order to defend the pound.

do not know.

Can't see.

Have not heard.

It is the most true portrayal.

So how much money ordinary people lost is a mystery.

And in Asia.

There is another bank that has suffered more than the Bank of England.

The Malaysian central bank believed in Britain's determination to defend the pound and invested US$24 billion to go long on pound spot and futures.

Because the leverage is too large.

The Malaysian central bank suffered a margin call and losses of more than US$16 billion.

Become the biggest loser among the defenders of the pound this time.