Oh, it turns out to be President Swarts. Miyashita Kita bent down and said politely. I saw the personnel change announcement of the company before, but I didn't expect to meet you so soon. I am Akamoto Kita from a long-term credit bank. I met for the first time. Please shine more light.
Please take care of me for the first time. Unexpectedly, Schwarts bowed with a straightforward manner, saying in Japanese that is not very standard but can be heard.
Ah, Mr. Swarts speaks Japanese very well. Miyashita North dressed in a surprise expression and said, I think you are also a Japanese person.
Mr. Akamoto was over-reputable, and Swarts smiled and said, "I'm not a Japanese master, but because I like East Asian culture since I was a child, I'm a little familiar with Japanese."
Haha, Akamoto, Mr. Swarts, Masashi Suzuki, who was standing beside him, smiled, let's take a seat first
Yes, yes, take a seat first, Masaki Yashi agreed, take a seat first, today I specially invited Sonoda's mother Sang to prepare some Qingkou dishes, which I believe will not disappoint everyone.
After a few simple words, Miyashita Kita bent down to sit down. He looked at Schwartz opposite him, but he was thinking about some memories of his previous life.
As the time of rebirth grows longer and longer, some very important memories of the previous life are becoming blurred day by day. Even some major events are sometimes ignored inadvertently.
It has been 1996 years now. Thinking about the past life, just one year later, the financial crisis that swept the entire Southeast Asia region would come. At this time, the American sitting opposite him gained a lot of wealth in the Asian financial crisis that year.
In his previous life, according to the media, the sniping of international hot money on Thai local currency, that is, Thai baht, started in July 1997. However, as a bank practitioner, Kita Kita knew very well that the first attack on Thai baht by international hot money on the Thai baht was actually in the early 1997, that is, in March of that year.
However, in the attack in March, the Bank of Thailand held its position, and the international hot money entering the market suffered heavy losses. In just one month, Soros alone lost as much as US$400 million.
But it was this failed attack that made international hot money see through the Bank of Thailand's toughness and cowardly appearance. Therefore, after less than four months of adjustment, they made a comeback and destroyed all the Bank of Thailand's defenses in one fell swoop.
Among them, a very important premise is that if international hot money wants to make trouble in the Thai local currency market, the first goal they must achieve is to have sufficient Thai local currency, that is, Thai baht. After all, they cannot use the US dollar to make trouble in Thailand.
Don’t say that temporary lending is impossible, because when any country’s local currency is impacted by international hot money, the first thing the central bank does is to increase the short-term lending interest rate, so that the lending behavior becomes unfeasible due to the high interest rate, so as to curb the channels for international hot money to obtain local currency.
It can be seen that before the formal attack was launched, international hot money, including Soros, must have spent a certain amount of time to absorb Thai local currency.
In this way, calculate the time difference. If these guys want to do something in Thailand, then their preparation period will be at least half a year. This means that they should prepare from now on.
Since I think of the Asian financial crisis in 1997 in my previous life, Miyajima Petaku can guess Schwarts' main purpose tonight
As a large transnational commercial bank in Japan, Changxin Bank has had problems in its operations in the past two years, but its own advantages are difficult for ordinary banks to achieve.
For example: Changxin Bank is a core member of the Tokyo Stock Exchange. Its business includes the content of forward transactions of Asian currencies. In addition, Changxin Bank has branches in more than a dozen countries in Southeast Asia, and only in Thailand, there are thirteen branches, which are urgently needed by these international hot money.
As one of the three major supervisors of Changxin Bank, Kita Miyashita is responsible for the overseas part. Previously, he established a contract relationship with Enron, which was based on this point, so Swarts came to him.
Tonight, the four people attended the small gathering. The people present were executives in the financial circle. Therefore, after a simple courtesy, when the waiter of the club delivered the meal, the topic of several people naturally turned to finance-related issues.
Schwartz first talked about the impact of the Federal Reserve's interest rate regulating on Wall Street investment banks in recent times, and also talked about the macro data of various industries in the United States in the first three months of this year, and made some predictions on the general direction of the international financial market this year.
The remaining three people, including Kita Kitani of Miyagi, have no say in these matters. After all, they come from top investment banks on Wall Street, and their own information channels are not comparable to them.
To be honest, if there is an ordinary person here and he has some capital, some news from this table will be enough to increase his personal assets in the next year.
After three rounds of drinking, Schwartz, who was very excited about the conversation, suddenly turned the topic to Southeast Asia. He looked at the Miyashita Kitan and said: Akamoto, I wonder if you have noticed the risk report released by Crosby Securities the day before yesterday. What do you think of this report?
Crosby Securities is a top securities company in Singapore that has been committed to the financial investment industry in Southeast Asia. They publish an assessment report on the Asian financial situation every year, which is very convincing.
Very sorry, I didn't pay attention to this information. Miyashita Kita shook his head and said, he has really not paid attention to this information recently
Swarts smiled and nodded at Masashi Suzuki who was sitting next to him
The latter nodded in understanding, turned around and took a file bag from the back of the seat, took a thick document from it and handed it to Miyagi Nishigata.
Miyashita Kita took the napkin in his hand and wiped it on his mouth before he took the document over.
The document is in Japanese, obviously translated, and the cover is the logo of Crosby Securities Company and the name of the document
Kita Kitani opened the cover and looked at the catalog. From the catalog, this is obviously an analysis report that combines the economic conditions of seven Southeast Asian countries in the past two years, but the top ranking is not Thailand, but Hong Kong
After looking at the introduction section, I have to admit that large securities companies like Crosby are indeed very amazing. They have their own perspectives and understandings on the problem.
This report starts in 1992 and analyzes the current growth recession crisis in Southeast Asia. The roughly means: Since 1990, with the collapse of the Soviet Union, China's strategic position in the international community has declined rapidly, while the situation of harmony between China and the West that appeared in 1979 has changed.
What is brought about is that the return of Hong Kong has the possibility of another uproar. The international financial community generally believes that after the return, Hong Kong may lose its status as an Asian financial center, which is a valuable opportunity for many Southeast Asian countries.
So, in this context, the Thai financial community had the idea of replacing Hong Kong and becoming a financial center in Southeast Asia, and in the following years, it relaxed financial supervision and opened its doors to international capital.
Against this background, in just four years, a large amount of overseas investment has poured into Southeast Asia. However, these investments are all greedy hot money. They are not invested in industries that can truly boost the economy, but are invested in basic industries like real estate, causing a lot of bubbles to the entire country's economy.
Deterioration in trade balances, rising inflation, over-liberalization of financial markets, coupled with overheating of the economy, these are potential huge risks
Crosby Securities statistics show that as of the beginning of this year, the amount of risk debts of Thai financial institutions has reached 800 billion to 900 billion baht, and the balance of payments deficit has exceeded 8% of the GDP. When the Mexican economic crisis broke out, this proportion was only 7%.
In summary, Crosby Securities concluded that seven Southeast Asian countries, including Thailand, are playing with fire, and they are likely to become the next target of up to $4 trillion in international hot money.
Kita Miyashita read the report briefly, then closed the document, pressed one hand on the cover, looked at Schwarts with a smile, and said: Mr. Schwarts, from this report, I seem to smell the rich smell of money.
After a pause in his voice, he said: But it’s a pity that Changxin is a formal commercial bank. According to regulations, we cannot do pull-off transactions. I have to say that this is a pity.
Not being able to do pull-off transactions does not mean that you cannot make profits through other methods. Before Schwartz's turn to speak, Masaki Eight City on the side had already said first.
Oh? Miyashita Kita glanced at him and made a single tone with questions
Akamoto, Masashi Suzuki leaned forward, and his elbows were on the table, saying, Mr. Swarts provided us with a plan, a plan that can cooperate to make profits. We don’t need to pay too much, we just need to provide a channel that can conduct forward transactions in Thai baht. This, I think, should not be a very difficult thing for Changxin.
Miyashita Kita pursed his lips and remained silent. He was considering whether this plan was feasible.
Please take care of me for the first time. Unexpectedly, Schwarts bowed with a straightforward manner, saying in Japanese that is not very standard but can be heard.
Ah, Mr. Swarts speaks Japanese very well. Miyashita North dressed in a surprise expression and said, I think you are also a Japanese person.
Mr. Akamoto was over-reputable, and Swarts smiled and said, "I'm not a Japanese master, but because I like East Asian culture since I was a child, I'm a little familiar with Japanese."
Haha, Akamoto, Mr. Swarts, Masashi Suzuki, who was standing beside him, smiled, let's take a seat first
Yes, yes, take a seat first, Masaki Yashi agreed, take a seat first, today I specially invited Sonoda's mother Sang to prepare some Qingkou dishes, which I believe will not disappoint everyone.
After a few simple words, Miyashita Kita bent down to sit down. He looked at Schwartz opposite him, but he was thinking about some memories of his previous life.
As the time of rebirth grows longer and longer, some very important memories of the previous life are becoming blurred day by day. Even some major events are sometimes ignored inadvertently.
It has been 1996 years now. Thinking about the past life, just one year later, the financial crisis that swept the entire Southeast Asia region would come. At this time, the American sitting opposite him gained a lot of wealth in the Asian financial crisis that year.
In his previous life, according to the media, the sniping of international hot money on Thai local currency, that is, Thai baht, started in July 1997. However, as a bank practitioner, Kita Kita knew very well that the first attack on Thai baht by international hot money on the Thai baht was actually in the early 1997, that is, in March of that year.
However, in the attack in March, the Bank of Thailand held its position, and the international hot money entering the market suffered heavy losses. In just one month, Soros alone lost as much as US$400 million.
But it was this failed attack that made international hot money see through the Bank of Thailand's toughness and cowardly appearance. Therefore, after less than four months of adjustment, they made a comeback and destroyed all the Bank of Thailand's defenses in one fell swoop.
Among them, a very important premise is that if international hot money wants to make trouble in the Thai local currency market, the first goal they must achieve is to have sufficient Thai local currency, that is, Thai baht. After all, they cannot use the US dollar to make trouble in Thailand.
Don’t say that temporary lending is impossible, because when any country’s local currency is impacted by international hot money, the first thing the central bank does is to increase the short-term lending interest rate, so that the lending behavior becomes unfeasible due to the high interest rate, so as to curb the channels for international hot money to obtain local currency.
It can be seen that before the formal attack was launched, international hot money, including Soros, must have spent a certain amount of time to absorb Thai local currency.
In this way, calculate the time difference. If these guys want to do something in Thailand, then their preparation period will be at least half a year. This means that they should prepare from now on.
Since I think of the Asian financial crisis in 1997 in my previous life, Miyajima Petaku can guess Schwarts' main purpose tonight
As a large transnational commercial bank in Japan, Changxin Bank has had problems in its operations in the past two years, but its own advantages are difficult for ordinary banks to achieve.
For example: Changxin Bank is a core member of the Tokyo Stock Exchange. Its business includes the content of forward transactions of Asian currencies. In addition, Changxin Bank has branches in more than a dozen countries in Southeast Asia, and only in Thailand, there are thirteen branches, which are urgently needed by these international hot money.
As one of the three major supervisors of Changxin Bank, Kita Miyashita is responsible for the overseas part. Previously, he established a contract relationship with Enron, which was based on this point, so Swarts came to him.
Tonight, the four people attended the small gathering. The people present were executives in the financial circle. Therefore, after a simple courtesy, when the waiter of the club delivered the meal, the topic of several people naturally turned to finance-related issues.
Schwartz first talked about the impact of the Federal Reserve's interest rate regulating on Wall Street investment banks in recent times, and also talked about the macro data of various industries in the United States in the first three months of this year, and made some predictions on the general direction of the international financial market this year.
The remaining three people, including Kita Kitani of Miyagi, have no say in these matters. After all, they come from top investment banks on Wall Street, and their own information channels are not comparable to them.
To be honest, if there is an ordinary person here and he has some capital, some news from this table will be enough to increase his personal assets in the next year.
After three rounds of drinking, Schwartz, who was very excited about the conversation, suddenly turned the topic to Southeast Asia. He looked at the Miyashita Kitan and said: Akamoto, I wonder if you have noticed the risk report released by Crosby Securities the day before yesterday. What do you think of this report?
Crosby Securities is a top securities company in Singapore that has been committed to the financial investment industry in Southeast Asia. They publish an assessment report on the Asian financial situation every year, which is very convincing.
Very sorry, I didn't pay attention to this information. Miyashita Kita shook his head and said, he has really not paid attention to this information recently
Swarts smiled and nodded at Masashi Suzuki who was sitting next to him
The latter nodded in understanding, turned around and took a file bag from the back of the seat, took a thick document from it and handed it to Miyagi Nishigata.
Miyashita Kita took the napkin in his hand and wiped it on his mouth before he took the document over.
The document is in Japanese, obviously translated, and the cover is the logo of Crosby Securities Company and the name of the document
Kita Kitani opened the cover and looked at the catalog. From the catalog, this is obviously an analysis report that combines the economic conditions of seven Southeast Asian countries in the past two years, but the top ranking is not Thailand, but Hong Kong
After looking at the introduction section, I have to admit that large securities companies like Crosby are indeed very amazing. They have their own perspectives and understandings on the problem.
This report starts in 1992 and analyzes the current growth recession crisis in Southeast Asia. The roughly means: Since 1990, with the collapse of the Soviet Union, China's strategic position in the international community has declined rapidly, while the situation of harmony between China and the West that appeared in 1979 has changed.
What is brought about is that the return of Hong Kong has the possibility of another uproar. The international financial community generally believes that after the return, Hong Kong may lose its status as an Asian financial center, which is a valuable opportunity for many Southeast Asian countries.
So, in this context, the Thai financial community had the idea of replacing Hong Kong and becoming a financial center in Southeast Asia, and in the following years, it relaxed financial supervision and opened its doors to international capital.
Against this background, in just four years, a large amount of overseas investment has poured into Southeast Asia. However, these investments are all greedy hot money. They are not invested in industries that can truly boost the economy, but are invested in basic industries like real estate, causing a lot of bubbles to the entire country's economy.
Deterioration in trade balances, rising inflation, over-liberalization of financial markets, coupled with overheating of the economy, these are potential huge risks
Crosby Securities statistics show that as of the beginning of this year, the amount of risk debts of Thai financial institutions has reached 800 billion to 900 billion baht, and the balance of payments deficit has exceeded 8% of the GDP. When the Mexican economic crisis broke out, this proportion was only 7%.
In summary, Crosby Securities concluded that seven Southeast Asian countries, including Thailand, are playing with fire, and they are likely to become the next target of up to $4 trillion in international hot money.
Kita Miyashita read the report briefly, then closed the document, pressed one hand on the cover, looked at Schwarts with a smile, and said: Mr. Schwarts, from this report, I seem to smell the rich smell of money.
After a pause in his voice, he said: But it’s a pity that Changxin is a formal commercial bank. According to regulations, we cannot do pull-off transactions. I have to say that this is a pity.
Not being able to do pull-off transactions does not mean that you cannot make profits through other methods. Before Schwartz's turn to speak, Masaki Eight City on the side had already said first.
Oh? Miyashita Kita glanced at him and made a single tone with questions
Akamoto, Masashi Suzuki leaned forward, and his elbows were on the table, saying, Mr. Swarts provided us with a plan, a plan that can cooperate to make profits. We don’t need to pay too much, we just need to provide a channel that can conduct forward transactions in Thai baht. This, I think, should not be a very difficult thing for Changxin.
Miyashita Kita pursed his lips and remained silent. He was considering whether this plan was feasible.
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