Chapter 353 South Korea's Counterattack

  The South Korean won fell sharply for several days, completely shattering the illusion that the current government, which has only a few days left to function, will continue to sit firmly on the Blue House. At the suggestion of the president, after the market closed on the 15th, Finance Minister Lim Chang-yeol, the three most popular presidential candidates and central bank governor Park Hee-rae were summoned to the Blue House for an emergency meeting to discuss how to deal with the current situation of the Korean won plummeting. measure.

Lim Chang-yeol was very polite and low-key towards these candidates who might enter the Blue House in the future. Getting to the point: "Recently, there have been a lot of rumors about our Republic of Korea. We are helpless about this. Continuity must be considered when formulating policy, and now is a time of national crisis, and I hope you can put aside partisan prejudices at this time and work together to serve the country."

   Speaking of this, Lin Changlie deliberately stopped and carefully studied the reactions of several people. Among them, he observed Kim Dae-jung and Li Huichang most carefully.

  Except for the candidate of the New Korea Party, Li Inje, the other two candidates snorted coldly in their hearts, thinking in unison: Now they think of us, why didn’t they want to listen to our opinions when they were messing around before! However, both Kim Dae-jung and Li Huichang are not ordinary people. Although they have slandered all the important people in the current regime in their hearts, the expressions on their faces are extremely dignified, and they all have a posture of "devotion to death and death".

  Among these few people, Park Xilai had the most relaxed expression. You must know that he has already done everything he can do. Even if a person with a heart wants to take the opportunity to make trouble, he only needs to put all the responsibility on the Ministry of Finance. Who makes the Bank of Korea have been criticized for its independence!

Lin Changlie was very satisfied with their reaction, nodded slightly, and then continued: "First of all, let me tell you a piece of good news. Just now, the IMF reached an agreement with most of them to transfer the original 200 billion U.S. dollars The basic funds of the United States have increased by 80%, and each country has added another 160 billion U.S. dollars. Although the voting on this part of the funds is weighted, the United States has communicated with us in private and promised to fully support us in the use of this part of the funds. . Which means we have a very good chance of getting more than $57 billion in aid in the future.”

"Really?" Immediately after Lin Changyeol's words fell, Lee In-je, the presidential candidate of the New Korea Party, had a look of surprise on his face, "In this case, let's release the news now, although tomorrow's won market may not There is a rebound, but at least it will relieve a lot of the pressure we are currently experiencing. In this way..."

It's just that before he finished speaking, he heard a cold snort of disdain coming from beside him, Li Renji's words stopped abruptly, and turned his head to look at Park Hee Lai who was sitting next to him in displeasure, only to find that this The governor of the central bank is facing the sky with his nostrils up, and he has a sneer on his face. Anyone can see that Park Hee Lai obviously dismisses his proposal.

Li Renji's face immediately flushed red, and after a long pause, he pointed at Park Xilai and reprimanded him in a tone of shame and indignation: "You...what's your attitude? You bastard, how dare you treat me disrespectful..."

"Pay attention to your wording!" Park Xilai lowered his head, glanced at Li Renji with disdain, then rolled his eyes again, and looked at the ceiling again. He sneered twice, and then said, "Mr. Li , I don’t know how you think that as long as this news is released, the downward pressure on the Korean won will be slowed down? If the market thinks that the Republic of Korea is simply unable to resolve the current conflict, and may ask for more aid, the Korean won may continue to fall. By then you The proposal chosen becomes a joke."

"You...you..." After being reprimanded by him like this, Li Renji was about to yell at him, but when he saw Lin Changlie's gloomy eyes, he suddenly shuddered, frowned and thought for a long time, and then retaliated. With a flick of his head, he snorted coldly, and began to study the ceiling.

  Because Li Renji was the lowest in the polls among the three, Park Hee Lae didn't think much of him at all. And the most important thing is that he has now hugged the thigh of Kim Dae-jung who is most likely to succeed in the election, so even Lim Chang-yeol, the current finance minister, he doesn't pay much attention to.

"Since this is the case, let's wait for the IMF to announce it!" Lim Changyeol thought for a while, then turned his attention to Kim Dae-jung and Park Hee-rae, and found that they both nodded insignificantly. He knew that Li Inje's proposal might not be effective. , "Then, let's all work together to think about any other ways to prevent the currency of the Republic of Korea from continuing to fall. Well, President Park, you are an expert in this field, so you come first and talk about your own views?"

"Me?" Park Hee Lai was a little astonished, and then peeked at Kim Dae Jung, and found that he had blinked his eyes, so he settled down, "Since Minister Lin called the name, then I will throw a brick to attract others. Under the current situation, the people of the Republic of Korea The currency has been captured by international capital and turned into a financial crisis. However, due to the frequent bankruptcy news of large domestic companies and the market’s doubts about our Republic of Korea’s ability to rescue, the Korean won against the US dollar fell by more than 40% in just a few days. %, if it continues to fall like this, I am afraid that the financial crisis in the Republic of Korea will intensify, and it is very likely that it will get out of hand by then."

"Looking at the world, there are undoubtedly two ways to deal with the currency crisis. The first is to increase the cost of short sellers by raising interest rates, so as to make them quit. But this is no longer applicable, because we The currencies in China are already floating freely, and it is meaningless to restrict them, and if the interest rate is raised, the cost of domestic enterprises will further increase, and the number of bankruptcies will increase exponentially.”

"Then there is only one way left, which is to use the central bank to intervene in the performance of the domestic currency in the foreign exchange market. However, I can tell you clearly that the current US dollar reserves of the Bank of Korea are running out, only a mere 3 billion yuan. The U.S. dollar, which has consumed a lot of money defending the Korean Won, has not been replenished, so if it wants to make a difference, I can only hope that the Ministry of Finance will allocate the rescue funds allocated by the IMF to us."

  It was a lot of eloquent talk before finally pointing out the real meaning, but just as Park Xilai thought in his heart, Lin Changyeol categorically rejected his proposal: "No!"

Perhaps because he realized that his tone was too blunt, Lin Changlie lowered his tone and explained in detail: "According to the agreement we reached with the IMF, these funds are for stabilizing the banking industry and mainly for repaying short-term foreign debts. There are no funds at all. Prepare to intervene in the foreign exchange market. If we rashly use this fund and let the IMF know, I am afraid that the allocation of the next fund may become a problem. Therefore, for the sake of the Republic of Korea, we cannot use this fund.”

   "It's for the Republic of Korea again, isn't my proposal for the Republic of Korea?" Park Xilai rubbed his nose, slandered in his heart, and then began to study the ceiling again.

"Mr. Kim, do you have any practical solutions that can urgently solve the current plummeting Korean won?" Seeing that the proposals of the people on his side were rejected by him, Lin Changyeol turned his head to Kim Dae-jung and Lee Hoi-chang, who had been listening carefully. People, first ask Kim Dae-jung who is currently the most vocal.

"Me?" Kim Dae-jung pointed to himself, and when he saw Lin Changyeol nodded, he smiled and evaded, "Let Mr. Li talk about it first, I have an immature plan in mind, please allow me to think about it first." .”

  When he said this, he not only showed that he already had relevant plans, but also skillfully shifted the pressure to Li Huichang's side.

Sure enough, when Li Huichang heard what he said, his whole face immediately collapsed, but after rolling his eyes a few times, he deliberately said dissatisfied: "Mr. Jin, how can you do this? You must know that we are now discussing the fate of the entire country. Even if there is something useful, we must announce it to everyone here without hesitation and frankly. After all, everyone’s discussion is more comprehensive than your own. ?”

   Facing Li Huichang's aggressive tactics, Kim Dae-jung just smiled slightly, sat firmly on the Diaoyutai, and began to rest his eyes and mind, completely ignoring Li Huichang's words.

   Seeing that his biggest enemy ignored him, Li Huichang couldn't help being a little annoyed, but this is really not the time to explode, because there is also a candidate Li Renji who is also eyeing the presidential throne. If Li Renji, Lin Changlie, and others add fuel to his gaffe here, the entire bureaucratic system's impression of him will plummet, and it may even affect public opinion.

  He decided to endure, to endure this breath first. Isn't there a saying in Huaxia called: It is not too late for a gentleman to take revenge in ten years. Li Huichang, who has been deeply influenced by Chinese culture, knows this truth well. As long as he can become the president, the humiliation he suffered today will be returned ten times, a hundred times.

Li Huichang, who had calmed down, began to talk endlessly, but there was nothing new in what he said, and even many things were implemented by the South Korean government. That is to say, what he said was basically nonsense. It has no effect on the current short-term trend of the Korean won.

After talking for half an hour, Li Huichang closed his mouth under the impatient eyes of everyone, took a sip of tea slowly, and then said to Jin Dazhong with malicious intentions: "Mr. Jin, is it your turn now?" Is it up to you to talk?"

   "Yes! Yes!" Li Renji, who was already drowsy after hearing this, lifted his spirits and hurriedly spoke in agreement.

Lim Chang-yeol, who presided over the meeting, also took the opportunity to say: "Mr. Li's words are very constructive. Well, it's just that if it is implemented, it may not have much effect on the currency performance of the Republic of Korea in the short term. But we still want to thank Candidate Li for his wonderful speech." Say. Next, Mr. Jin, please talk about your high opinion!"

  Although the meeting was nominally to discuss how to deal with the current sluggish performance of the Korean won, those who attended the meeting were well aware that as soon as the meeting ended, what they discussed at the meeting would soon spread throughout the bureaucracy. Therefore, rather than talking about how to boost the Korean won, it is better to talk about how to gain the approval of the entire South Korean bureaucracy and demonstrate their ability to govern.

Jin Dazhong took a sip of tea with a smile, and then he said in a leisurely manner: "Actually, what we discussed today seems to be extremely difficult, but in fact it is very simple to solve. I promise, as long as my method is implemented, I guarantee that I will see immediate results. As a result, tomorrow’s Korean won market will definitely rise sharply. And the whole process can be said to be effortless, oh no, it’s just a matter of lip service.”

  As soon as this remark came out, the faces of several other people suddenly showed surprise. Only Park Xilai, who had known it in advance, still had a calm expression, staring at the teacup in front of him and studying non-stop.

   "Mr. Jin, you are also a presidential candidate. It's better not to talk in plain language, so as not to be seen as a joke." After being surprised for a moment, Li Huichang said eccentrically.

  It is normal for him to behave like this, because he and Kim Dae-jung are the two most popular at present, and Li Renji probably has no chance. And after he talked eloquently for a long time just now, but was euphemistically criticized by Lin Changlie as "not very useful", he held back his anger. Now that Kim Dae-jung actually said "a little effort", compared with the two, he naturally My heart began to become extremely unbalanced.

Kim Dae-jung glanced at Li Huichang meaningfully, took a sip from his teacup, and then said slowly: "In fact, since the Republic of Korea has given up maintaining the currency, our currency has fallen to an unfavorable level. The degree of confidence. With the IMF's intervention, it should be said that the country's economy will no longer have too many problems. Whether it is annoying foreign debts or the crisis of the domestic financial system, as long as we are given time, we are capable of solving them. The big deal is to implement state-owned holdings and use the government's credit as a guarantee. According to my analysis, the reason for the current plunge in the market is very likely to be a new round of speculation by international capital led by vulture funds. To achieve their goal of continuing to short. Guys, am I right?"

  Vulture funds are hedge funds, and there are also translations called hedge funds, but the term vulture funds is the closest and fully reflects the operating style of this type of fund. Like vultures that prey on dead bodies, these funds are good at rubbing salt in the wound.

Seeing that there were no objections from several people, Kim Dae-jung went on to say with a grimace: "As long as we release the news that the leading vulture fund is releasing false news for the purpose of withdrawing from the Korean won market, the others will follow suit and sell." Banks, funds, etc. will not continue to sell out of fear, but instead will go long because of the IMF’s increase in capital and other news, so the pressure on us will be self-defeating.”

"Okay!" Lin Changlie is an insider and the first person to react. He slapped the table and shouted, "Mr. Jin, your method is really effective. At least in the short term, it can ensure that the won will not continue to fall. .I will do as you say!"

  Li Renji also shouted at the right time: "Okay, I'll arrange it now." After speaking, he immediately stood up behind him, raised his feet and walked out.

"No need!" Kim Dae-jung's face suddenly showed contempt for this naked performance of picking peaches. After exchanging a look with Park Hee-rae, he said sarcastically, "No Candidate Li, please. We are already doing this, and you all just wait and see how the market will perform tomorrow!"

Upon hearing this, Li Renji, who had already stepped forward, froze in stature. It took a long time before he withdrew his steps, forced a smile at Kim Dae-jung who was sneering, and sat down on his buttocks. In the position, the whole face was so gloomy that it was about to drip water.

   When Li Huichang, who was just as active, heard this, it was as if someone had poured a basin of cold water from head to toe. But seeing Li Renji's almost clown performance, his cold heart warmed up a little, and a mocking smile appeared on his face.

   As for the open and secret struggle between the three since the meeting, Lin Changlie naturally saw it in his eyes. Originally, he wanted to help Li Renji, but the other party was so cunning that he had already arranged the matter flawlessly, so there was nothing he could do. But at this time, his attention was not on the scene just now, but was attracted by the "we" that Kim Dae-jung said.

  Looked suspiciously at Kim Dae-jung with a pale face, and stared at Park Hee who was studying the teacup happily for a while, Lin Changyeol gradually realized something, and sighed inwardly.

  The next day, when the market reported that hedge funds began to withdraw, the Korean won suddenly rose in retaliation, which caught many short-selling institutions by surprise. Many institutions that were crazy about shorting in the first two trading days were deeply locked up, and Quantum Fund, the protagonist of the rumors, was scolded **** by them. When the news reached Soros' ears, the big man just felt baffled, but fortunately he was not worried about debts, so he just shrugged and dismissed the matter.

   Just today, the Indonesian rupiah position that has plagued Soros finally has a preliminary solution. It is said that the fund that previously sold them the Indonesian rupiah wanted to buy back this part of the Indonesian rupiah, and contacted Quantum Fund through HSBC. After hearing the news, both Soros and Druckenmiller were overjoyed, and naturally they would no longer care about the messy rumors in the won market.

   Thanks to the book friend Mouse Fei for voting for the monthly support!

  

  

  (end of this chapter)