Chapter 375: The double-headed eagle represents quantum

The Saxon Bank is one of the five most famous investment banks in the UK. Although the word 'bank' is in its name, it does not actually provide ordinary banking services for the general public, such as savings and loans . Instead, it mainly provides securities issuance and sales, mergers and acquisitions, investment analysis, project financing, etc. for enterprises. Perhaps a more vivid name for it in the UK is merchant bank.

As the name suggests, merchant banks are institutions that provide financial services to enterprises. Saxon, as a leader in the UK investment banking industry, is naturally no exception, and its business is also likely to become a bellwether in the UK investment banking sector. Recently, they have been promoting and selling bonds issued by Two-Headed Eagle.

Entering the office of Saxion, you are immediately hit by a loud noise, as if a hurricane were about to push you out.

'Mr. Helm, I sincerely recommend a two-headed eagle bond from the company, which is a credit bond guaranteed by the Vienna Trust. It has an annual interest rate of 8%, which is a stable and highly profitable bond. If you buy it, you can just sit at home and wait for the money!'

'I'm sorry to interrupt your beauty treatment, Ms Jenny, but I can assure you that the time I've taken from you will be well worth it, because I've already secured a place for you to buy the highly profitable and completely safe bond I mentioned earlier! It's a bond from the company Double Eagle, with an annual interest rate of 8%, guaranteed by a trust company. If you miss this opportunity, I don't know when the next one will come along!'

'Mr Jim, I'm sure you've heard of the Double Eagle bond. I had a hard time getting it for you, and you know how popular it is...'

People in the office were shouting at the phone. This was unavoidable. After all, the job of investment bankers was to sell the various bonds and stocks distributed by the company to every customer. In order to achieve this goal, they naturally had to call each customer on the company's list, doing their best to convince them to buy the bonds and stocks they were selling. list to make a phone call to each one, doing their best to persuade the other party to agree to buy the bonds and stocks they are selling.

When dozens of people are desperately making phone calls in an office of only 300-400 square metres, the noise is naturally unavoidable. Some people even go under their desks to make phone calls so that they can hear clearly.

'Who are you people? Why have you come to our Saxon Merchant Bank?'

someone suddenly shouted, as if they had noticed the uninvited guests. But they were not alarmed, and each produced their own ID and said, 'Hello, we are securities investigators from the Securities and Investment Commission. We heard that you are selling a new bond, and as the regulatory authority for all securities, we need to file a record of this.'

Sack Saxony's business manager froze for a moment, as if he had not expected an investigator from the securities regulator at all, because indeed the two-headed eagle bond had not yet been filed with the Securities Investment Commission due to time constraints file with the Securities Investment Commission. However, there have been precedents in the past where the bonds were sold while the Securities Investment Commission was being filed, and they all turned a blind eye. How come they are actually coming directly to the door today?

With such doubts, the sales manager took the investigators to the CEO's office while also asking someone to verify their identities.

In actual the investigators' identities were genuine, it was their sudden arrival that had another reason, which was that the Earl of Montbazon reported it to the Securities and Investment Commission after learning about it.

Eventually the investigation results came out, and Philip, as the Chancellor of the Exchequer, personally called Montbatten: 'My dear Count, please forgive me for saying so, but I think you seem to be worrying about nothing. The two-headed Eagle bond is completely legal, although they sold it at the same time as they filed it, which is a violation of the rules, but it's not the first time that's happened within the merchant bank.'

Mont exhales, 'It seems I'm being paranoid, but I still have a feeling that this two-headed eagle company and its bonds are problematic, and the problems are quite serious!'

'I of course I can understand that, but I also believe that the Securities and Exchange Commission investigators would not lie to me,' Philip said.

Faced with Philip's affirmation, Montbaton had to change the subject: 'What about George Soros and his Quantum Fund? Has he done anything unusual this weekend?'

Philip Philip replied, 'No, but with the help of the European Monetary Union, we have been able to confirm that the Quantum Fund has made at least 100 transfers, and more than 13 billion US dollars have been blocked outside the European continent.'

'This is the best news I've heard all weekend!' Montbaton added, 'But we can also see from this news that George Soros and his Quantum Fund are still working hard, so we can't let our guard down. There are still 20 hours until the start of the new week, and we must remain vigilant.'

With Montbatten and Philip's phone call, the weekend passed in this way, and twenty hours later, the most influential financial market in the East, the Hong Kong City Exchange, opened for business, and the pound was immediately sold.

Although the Financial Secretary of Hong Kong City responded immediately by ordering the Hong Kong City Exchange Fund Management Bureau to follow the example of the Bank of England and buy pounds sterling to counter the sell-off and ultimately maintain the pound sterling . However, by noon, it had still fallen by one percentage point on the opening basis, and by the afternoon close, the decline had increased to three percentage points.

In In 1991, Hong Kong was not returned to China, but remained under British rule. Due to its unique geographical location and political environment, Hong Kong was the largest financial centre in the East. Therefore, the foreign exchange market in Hong Kong, especially the exchange rate of the British pound, often often leads the European exchange rate, and this is perfectly demonstrated by the fact that the major European foreign exchange trading markets and the London foreign exchange market opened one after the other.

At When the London foreign exchange market opened at 8am London time, the pound immediately suffered a heavy blow. It was sold off heavily from the opening bell, falling 1.2% in just one hour – even more than the entire decline last Monday – shocking the world.

London financial sector called this a collapse of the pound. He said that last week, Chancellor Philip had claimed to have maintained the exchange rate of the pound, and said that he was prepared to spend more than 20 billion US dollars on foreign exchange. Britain will let all the guys who dare to offend it crash headlong into the pound, but obviously this is just his wishful thinking, because reality has already slapped the arrogant politician hard in the face.

Wall Street finance said that the exchange rate of the British pound is clearly on the verge of collapse. If the Bank of England cannot come up with another solution, because the UK economy needs a devalued pound, and a strong pound is contrary to the overall economic situation in the UK. Perhaps Britain's place in the European exchange rate mechanism may have expired. If Britain can't defend the exchange rate of the pound, it will be kicked out of the European exchange rate mechanism!

Facing this news, Montbaton immediately called Chancellor Philip to ask him what was going on.

Philip replied, 'Mr Earl, please calm down. Perhaps you should be happy with the current situation, because the current sell-off of the pound is obviously the last desperate counterattack by those speculators are in a desperate situation and have launched a final counterattack. If we can survive this counterattack, we will win the war. And in the I will be investing more than 3 billion US dollars in foreign exchange into the market, and I can't imagine how much money our opponent still has in his hands.'

Moumba nodded in silence, because he also understood that the current situation was favourable to him. After all, the follow-up funds of Quantum Fund had already been blocked outside Europe, and now Philip had made up his mind to invest more funds. He couldn't imagine how the pound could collapse in this situation.

But it was just like that, but Montbaton always had a vague feeling that something was wrong.

Many things just didn't go as well as they should have. Then, at the behest of Lord Philip, the Bank of England spent 3 billion US dollars to buy pounds sterling, which caused the pound's exchange rate to steadily rise within an hour.

However the joy of victory was always short-lived, because within the last hour of trading today, the pound once again collapsed, and this time the Bank of England could no longer be saved. By the time trading closed in London, the pound had fallen to 2.89 to the German mark, a drop of more than three percent.

'Damn it! These damned speculators, they should all be sent to the gallows! And that idiot Philip, talking about a sure win, how could it have fallen so much?'

Montbaton raged in in the study of his castle, and, not knowing how many times he had slammed his expensive desk, his servant was doing his work nearby. He turned around and angrily asked, 'Have you not yet reached Philip? It's been an hour now. Has the guy fallen into a cesspool?'

Montbarton grabbed his hair, clearly a little frantic, and as he was about to start shouting at the poor servant again, the servant told him that he had finally got through, so Montbarton immediately picked up the phone and, opening his mouth, unceremoniously asked: 'My dear Lord Philip, I want to know what happened today and why the exchange rate of the pound, which you promised me, has not only stabilised but has instead hit rock bottom?'

Philip exhaustedly: 'I'm sorry, I don't know what's going on either. I only know that they've put in more money, a lot more than we have. According to incomplete statistics from the Bank of England, George Soros and his Quantum Fund sold today.'

Montbaton felt feeling a little taken aback: 'Why? Haven't we kept the Quantum Fund's money out of Europe? How can they still have so many pounds to sell? Where on earth found all that money? Damn, has he found King Arthur's treasure? Or is he begging for a pound from every passer-by?'

At this point Monty suddenly froze, and he said incredulously, 'I know, I know what that bastard George and his Quantum Fund have been up to. They have borrowed money in our Britain to finance their operations, and they have relied on the money we have borrowed in Britain financed the money and then sold it on to the foreign exchange market in Great Britain to short the pound. This is a despicable conspiracy that deserves to be cursed by the gods and is the most shameless evil!

'Montbarton said, 'I finally know what the double-headed eagle represents. It was the predecessor of the Quantum Fund and also the Quantum Fund's agency in Great Britain. We have all overlooked this!'