Chapter 20: The collapse of the Holy Cabinet Club

At the 11th RMB against one dollar, the exchange rate of RMB against the US dollar was finally stopped at this number. Just as all international hot money was expecting the situation to continue to deteriorate in order to follow up on profits, the press conference in Shanghai, China, and the facts that happened in the European and American markets were discouraged.

The speech issued by the Chinese government at the same time that the Chinese government is fully capable of restoring the RMB exchange rate to a reasonable level of 8 to 1 has also become credible because of the large amount of Chinese people's purchases in the European and American markets.

The whole situation makes people look more like a long-planned scam, and the emergence of Konoda, who has been regarded as a myth, also forced these people to sit back on the bench and see what the situation is going on.

"Host, we have been fooled, they still have huge strength hidden. It is impossible for us to break the RMB, it is impossible! Now... what should we do?" Solomon turned his face, looked at the old man weakly, and asked.

"What should I do?" The old man opened his eyes widened at Solomon, "You are the trader, you should ask you about such things."

Solomon shook his head vigorously and said, "I don't know either. The whole situation seems a mess. I can't understand at all. I don't know what happened. I can't understand why they have so much money. No matter how I count, they shouldn't have so much money."

The old man looked up at the ceiling. After a long time, a mouthful of blood spurted out of his mouth and flipped off his wheelchair.

Because of the sudden serious injury of the old man, no one could support Solomon's offensive action anymore. The Supreme Committee immediately ordered Solomon to return to defense. In any case, he would maintain control over the nine major banks. Once these banks were lost, the Holy Cabinet Club would be finished, because these banks were the money of all members of the Holy Cabinet Club.

Solomon followed the order and quickly returned to defense.

When they saw that the exchange rate finally stabilized and no longer continued to fall, both Tang Feng, Wu Shidao and Huo Yeda were relieved and said in unison, "Damn it, if they take another step, we will be the one who can't take care of each other."

In fact, until the moment Wu Shidao posted the press conference, the winner had not been decided. If the Holy Cabinet Club continued to maintain its offensive at that time, then Wu Shidao and the Tianlong Club had to give up their strategy in Europe and the United States and return to defend China. By then, they would be the one who was passive, and it is unknown who would win to death.

But Tang Feng was so playful that no one could see that he was playing with fire. In addition to Huo Yeda's reputation, people trusted the Chinese government's ability to continue to maintain the exchange rate of the RMB.

However, because the Holy Cabinet Club did not have further offensive, the exchange rate responded smoothly and no longer fell, while the European and American markets were in turmoil. In this way, international hot money and many investors were bullish on China, believing that the price comparison between the RMB and the US dollar would definitely rebound, so a large number of investors sold the US dollar and bought the RMB.

After waiting carefully for half an hour, the Chinese government quietly released the RMB in exchange for a little US dollar. By night, the RMB steadily rebounded to ten RMB against one US dollar, and China finally had a foreign exchange reserve of about 100 billion US dollars.

It can be said that China finally stabilized. Next, it is to see how Wu Shidao counterattacked. In one day, the offense and defense were changing. All financial investors who did not follow the Holy Cabinet Club all sweated and sighed, "I can't see clearly in the world and can't understand it!"

This day was later called the "Day of Great Reversal" by people in the financial market, and Tang Feng's method of taking risks was also called the "Da Qiankun Hand".

Wu Shidao's acquisition has been maintained for four days, and the whole process was very rapid, with the investment of up to 300 billion US dollars.

Starting from the fifth day, Wu Shidao began to sell the stocks of the nine major banks again, but due to the favorable acquisition, the stock prices of the nine major banks did not fall. Solomon was a little confused, but he thought the other party was making a fool of himself, so he continued to acquire.

This situation lasted for three days. After three days, the market finally began to react, and Solomon finally couldn't resist it, so he stopped and the stock price quickly lowered.

On October 25, Wu Shidao asked Huo Yeda, "How is it? How is the goods sold?"

Katsunoda nodded and said, "We have already made a profit, and the rest is all profitable, so it doesn't matter how it falls."

Wu Shidao nodded with a smile. In the afternoon, he held another press conference and announced that he had given up the acquisition of these nine banks based on his distrust of the financial situation of these nine banks. This news hit Solomon's head like a thunderous blow.

At this time, he realized, "Oh my God, I'm fooled again."

After Wu Shidao's press conference, the stock market quickly responded, and the stock prices of the nine major banks fell like an avalanche.

Tang Feng, who was far away in Beijing, couldn't help but jump up happily and said to Liu Chengyuan: "This is when he beat the dog in the water."

The next morning, the media under the Shengtang Enterprises published articles accusing the nine major banks of acting as ammunition players in the crisis from Mexico, South America, Southeast Asia, and China, and condemning them for making money in this region and helping others attack the region's finances.

At the same time, these newspapers loomedly solicited people from the victim areas to squeeze out these banks, with the reasons that they could not support such scum banks, and the other was that they seemed to be about to collapse.

As soon as the newspaper was released, starting from the 26th, a huge run was set off from America to Asia, and the members of the Tianlong Society also added fuel to the fire, and all asked the nine major banks to hand over their deposits.

If you are an astronaut, then in addition to the Great Wall, you will also see the long dragon of bank runs and withdrawals clearly. The nine major banks are in a storm. No one will come to help you at this time, and only someone will step on it. Suddenly, people around the world, including Europe and the United States, also began to take to the streets to run them.

In the face of this collapsed situation, the Holy Cabinet Clubs, who were still united at the beginning, saved money to the nine major banks and tried to save them, finally began to join the bank run and try to get their own share back.

The most important thing for an economic organization is to be able to balance and tolerate each other in terms of economic interests. Therefore, when the members of the Holy Cabinet Club no longer care about the rules and compete with each other, the Holy Cabinet Club has actually disappeared.

On November 4, 2013, nine major banks announced their bankruptcy at the same time. With their bankruptcy, the Holy Cabinet Club officially lost its foundation. The Holy Cabinet Club once said that it would settle Asia within four months, but what they did not expect was that they themselves who were finally settled. Hundreds of years of foundation were ultimately destroyed.

On the same day, the old man finally died in a New York hospital due to ineffective rescue.

This is in line with the old saying, "Smart is just a mistake by being smart!"
Chapter completed!