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Chapter 542: A blow to the head 7

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    International short sellers have been shorting the RMB in the offshore market for five consecutive days because they have identified this weakness of Zhong Shi, and there is a clear suspicion of benefit transfer at this position.  ?Reading books?? ? ?¡¤1?k?a want n books s?h?u¡¤Tianlai novels. In fact, just as they expected, as long as Zhong Shi sits in this position, he cannot act rashly. After all, people  Words are scary.  After confirming this, they can short-sell so unscrupulously without considering risk control at all.  But what is equally strange is that the rumors have been spreading in the market for a week, but the Chinese government has not made any personnel adjustments. Zhong Shi is still in charge of the RMB and foreign exchange stabilization work.  Although we can¡¯t figure out what is going on, this situation is undoubtedly conducive to the international short sellers who are shorting the RMB, so they are desperate to short the RMB, even though the overnight lending rate is a bit scary.  But all this will eventually come to an end.  On September 10, the offshore price of RMB opened at 6.4646, which was the same as the closing price of the previous trading day.  At the beginning of the opening, international speculators began to smash the market, hoping to break into the 6.5 line today.  At this time, there are still 54 basis points away from 6.5. It is unrealistic to knock down so much in one day, but knocking down two hundred basis points is not a problem.  As a result, the pressure faced by bulls in the market on the next trading day will increase exponentially.  During this period, the bulls in the market were beaten to around 6.5 by the bears several times. If it were not for the intervention of American capital, I am afraid that this line would have been broken long ago.  The bulls' bets were on the Central Bank of China's move, but the other party's delay in taking action, coupled with the impact of the news, also caused some bulls to lose confidence.  The short-sellers have also spotted the mentality of the long-sellers and eagerly sell large amounts of money in the market as soon as the market opens, further suppressing the other party's confidence.  "Are you taking action?" When he saw the exchange rate on the screen falling rapidly, Zhong Shi frowned and said to himself, "I really can't hold it anymore, I'm going to take action today?" "What are you talking about?  " Fangzhou looked at the numbers on the disk from a distance, shook his head slightly and sighed. Suddenly he heard Zhong Shi muttering quietly, and couldn't help but say, "Mr. Zhong, if you don't take action, the target price will soon be close to 6.5.  " "There will be a rise today." After looking at the other party with a smile, Zhong Shi said for no reason, "After today, I think the international short sellers should have a deep understanding of the RMB." As he spoke, the RMB.  The exchange rate fell another 100 basis points, directly falling below the 6.47 mark.  As the 6.47 mark was breached, the traders who were still carefully watching the market let out a burst of exclamation, and many eyes looked at Fang Zhouyuan.  There has been little movement in Zhongshi these days, but the yuan is still within a safe range, so traders are not in a hurry.  But now as it approaches 6.5 step by step, many traders can no longer sit still.  Watching Fang Zhouyuan, I just hope that he can talk to Zhong Shi to see when he will start to intervene in the exchange rate market.  Facing the traders¡¯ gazes, Fang Zhouyuan shook his head slightly, indicating that he was helpless.  Many traders sighed softly.  So far, they still can¡¯t figure out what kind of medicine is sold in Zhongshi Gourd.  "Okay, let's start!" While no one was paying attention, Zhong Shi sneaked outside, made a phone call, and ordered everyone who had been waiting on the other end of the phone, "Today is the only day to completely eliminate the short position."  Defeat! " Hedge fund giants such as Tianyu Fund, Bridgewater Associates, Paulson Fund and Castle Fund have been gearing up for a long time, deploying heavy troops in spot, futures and forward contracts, just waiting for Zhong Shi's order.  "Mr. Zhong, are we doing nothing today?" By the time Zhong Shi returned to the trading floor, the RMB exchange rate had exceeded 6.48 and reached 6.48o, heading straight for a 00 basis point decline.  According to the current downward trend, falling below 6.4899 is not a problem, and even falling to around 6.5 is possible.  After seeing this posture, Fang Zhouyuan couldn't sit still anymore, and took the initiative to come over and ask Zhong Shi, "In just a few minutes, it has approached a drop of 00 basis points. The short sellers are well prepared. If  Isn¡¯t it a bit unreasonable if we still stand still?¡± ¡°Don¡¯t worry, it will rise.¡± Zhong Shi still looked unhurried and waved his hands slightly, ¡°It will rise soon.  , you are a bit unfounded!" "Am I unfounded or are you slacking off?" Fang Zhouyuan, who had been patient for a long time, finally burst out and couldn't help but ask loudly.He said, "Mr. Zhong, we have also heard about that rumor. Regardless of whether it is true or false, you have to do something. If we are tied up like this, how can we do our work in the future? Now we are doing maintenance  The country's exchange rate system is not a dispute between individuals, do you understand?" His suddenly raised voice immediately attracted the attention of all traders.  "Oh, so you've also heard that rumor?" Zhong Shi looked at Fang Zhouyuan with a half-smile, then looked at the traders who were looking over here, and said loudly, "And you, too, probably  Did you hear that rumor? You must be wondering whether this rumor is true or not, and why I stood still for so long?" No one spoke, and there was a dead silence.  "Lao Fang, please tell me, do you think the rumors about me being suspected of transferring benefits are true or false?" After scanning around, Zhong Shi's eyes finally fell on Fang Zhouyuan, "You also think that I stood still because I was influenced by  Are you bound by that rumor? Do you think I am doing nothing now because I am afraid that the rumor will be confirmed? If that is the case, you are looking down on me!" "But what is all this for?"  He was speechless, pulling his head hard, and after a long while he asked with a sad face, "I really can't understand, what are you planning on? Seeing that the exchange rate is approaching 6.5, you don't have any  With all due respect, even if there are benefits, we should take action now! You can¡¯t expect the central bank to raise the interest rate again, right? " "Lao Fang, what is the purpose of our intervention in the exchange rate?"  Looking at him calmly, with a calm expression, seeing that the other party did not speak for a long time, he simply took the initiative and said, "Let me tell you, in order to combat the international short-selling forces, we will not let the long-term bearishness on the RMB become the generally accepted market expectation.  To put it simply, we can devalue, but it can only be devalued actively, not because of external influences. Do you think my statement is reasonable? " Fang Zhouyuan gradually calmed down.  , After thinking for a while, he nodded, "What you said does make sense, but what does it have to do with the current situation?" "If I can defeat the short sellers without using the country's foreign exchange reserves, wouldn't this be the best of both worlds?  "Zhong Shi laughed, patted the other party's shoulder, pointed at the screen on the wall and said, "Look, hasn't the exchange rate increased now?" Everyone looked in the direction he pointed.  It was then that I was shocked to discover that the RMB exchange rate had quietly stabilized and was rising in an orderly manner.  As he was speaking, the RMB exchange rate had originally fallen to its highest point of 6.486, but it had also reached its end.  Wave after wave of fierce funds came out of thin air, firmly supporting the RMB here, causing the exchange rate to stop its decline.  Just when everyone was amazed, these funds were not satisfied. Instead, they actively chose to attack and buy RMB everywhere in the market.  Their large and numerous quantities made many traders who were considering selling RMB without any hesitation and directly choose to complete the transaction.  The exchange rate began to rebound.  "What's going on?" Looking at the changes on the disk, Fang Zhouyuan was stunned. After a while, he remembered what Zhong Shi had said before, and couldn't help but point at Zhong Shi and asked with a strange expression, "Does all this have to do with you?  "The show has just begun!" Zhong Shi was noncommittal, pointing to the screen and motioning for Fang Zhou to look there, "Today, the short sellers will pay a heavy price for their actions!" The bulls who appeared out of thin air were beaten!  The short seller was caught off guard.  However, after experiencing an initial defeat, they quickly launched a counterattack.  In fact, in order to bring the RMB down to 6.5, they have accumulated a lot of chips on hand. They originally wanted to release them little by little, but now the situation has changed, and they have been forced to increase their selling efforts.  "Someone asked if we were taking action!" At this moment, a trader who had just hung up the phone asked loudly, "Are we going to reveal some news to the market?" The changes in the market not only made the main short sellers  Being aware of it, rumors spread.  After considering the possible amount of funds on the market, traders believe that the most likely possibility is that the central bank is brazenly intervening in the offshore RMB exchange rate.  Therefore, familiar traders immediately called to inquire about the specific situation.  In this case, if the news is announced, it will encourage bulls to actively buy, which can provide a boost to the current upward momentum.  However, the trader did not dare to make any claims without authorization, but chose to ask Zhong Shi for instructions as soon as possible.    "This what is going on?" Until now, Fang Zhouyuan still didn't understand. He scratched his head and stared at Zhong Shi with his big eyes. He knew very well that the person in front of him must know something.  What.  "Don't say anything." In the eyes of everyone, Zhong Shi waved his hand slightly, "Don't admit or deny, let the market guess. Only in this way can the short sellers come out in full force. This time I must give the short sellers  A lesson that will never be forgotten!¡± As he spoke, the RMB exchange rate rose again by 5o basis points, reaching around 6.47oo.  This is an important pass!  (To be continued.) (To be continued)
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