Wall Street, USA.

Stanley Druckenmiller gently rotated the pen in his hand and his eyes were concentrated on the computer on the table.

isk5.8135 sold 666

isk5.8145 sold 666

isk5.8148 sold 666

......

isk5.8235 sold 666

......

666?

What does this mean?

Drucken Miller fell into deep thought.

Since discussing with Soros, he has been paying attention to the financial markets of European countries. Recently, the Finnish market has suddenly changed. First, the securities market continues to plummet and soar, and then the Finnish Mark price is suppressed. All of these have attracted Druckenmiller.

404!

40444444

666

Then to 666666666

Whenever a series of meaningless but identical numbers appear in the market, the price of Finnish Mark will be leaked.

Drucken Miller just felt interesting about the meaning of the numbers. Based on experience and intuition, he could guess and see that someone had the same view as him and put it into action.

As for 404 or 666.

Maybe that guy is a devil's believer.

Isn't it?

Otherwise, why would it be 666, not 999.

But this doesn't matter. What really made Drucken Miller ponder was how much profit he could make from it.

markka, 4.5855 sold 666

......

In twenty minutes, the Finnish Mark has fallen by 10%, but now, the size of the Quantum Fund's position on the Finnish Mark is not very large. If you follow up at this time, God knows whether it will be a wedding dress for others.

Swedish Krona...

Closed his eyes, Drucken Miller pondered.

From 1870 to 1970, Sweden experienced a century of rapid economic growth, transforming from one of the poorest countries in Europe to the fourth richest country in the world.

The reason is that during the "golden era of European liberalism", Sweden implemented extensive market-oriented reforms, thus laying the institutional foundation for lasting economic prosperity; while during the two subsequent world wars, Sweden was always out of the situation, and when industrial facilities in other European countries were seriously damaged or even turned into ruins, Sweden's industrial foundation was unscathed.

Not only that, relying on military industry and advanced manufacturing, Sweden earns a lot of money when other countries are injured.

After World War II, the establishment and expansion of the welfare state system in Sweden.

Especially in the late 1960s, the political trend underwent obvious changes. Under the leadership of Keynesianism, governments in the Western world intervened in the economy and society generally rose.

In the 1950s and 1970s, the Swedish model achieved world-renowned achievements, and its appeal was not only to achieve significant economic performance, but also to other countries in terms of social performance.

Therefore, in the subsequent 1970s and 1980s, Sweden's welfare state system began a nearly crazy expansion, and the social welfare provided by the government continued to expand. Almost all social welfare was almost "free" to the people equally.

Free medical care, free education, and even free elderly care.

But the relationship between market economy, social welfare and government is a very complex process. The logic of law, economics, ethics and social psychology all require participation, not to mention political and ideological discourse.

As an empirical science, the focus of economics is on the efficiency of institutional arrangements. "Justice" is mainly a topic of ethics and social psychology. When a society decides that it is necessary to sacrifice some efficiency for "justice" or other social value goals, economics has no right to object.

However, the logic of economics cannot be ignored, because when economic efficiency is sacrificed too much, no matter how tempting the value ideals of respected are, this system will ultimately be unsustainable.

The prince is also unfair, and unfair is the prince.

In the process of economic development, if there is no sufficient resources to support free, the balance will tilt.

When products or services with increasingly wide coverage of social welfare are provided to the public by the government as social welfare almost for free, on the one hand, the government needs to provide capital investment to the national public at an average tax rate of more than 50%. On the other hand, while bearing such a tax burden, as enjoying welfare has become a national right, the citizens' demand for these services will inevitably be greatly encouraged.

Therefore, the production of such services has to expand accordingly. While the fiscal pressure continues to increase, the efficiency of providing public services will inevitably be damaged due to the lack of effective incentive mechanisms. The growth of the scale of the public service sector means that more and more scarce resources are transferred from the private production field to the production of social welfare, thus causing distortion of resource allocation at the industrial structure level.

Based on basic economic principles, it can be imagined that the long-term consequences of the Swedish welfare state system must be inefficient resource allocation, distortion and weakness of economic incentives, and the deterioration of government fiscal conditions.

Since resources, including people's time and energy are scarce, the principles of competition and opportunity cost will always work.

"Free lunch" is not available.

Moreover, when social welfare is almost "free" to the people equally open to the people, those who enjoy rights will pay another price, that is, the price of waiting in line. Many people with power and relationship resources will definitely get the first place to get the moon, so the behavior of operating relationships and rent-seeking will inevitably be encouraged.

The logic is simple and clear. Just grasp the principle of relative price and understand the concepts of opportunity cost and economic rent. It is not difficult to imagine the economic consequences of the welfare state model.

In twenty years, the Swedish government deficit grew sharply, and the national debt growth in 1985 alone reached 10 times that of 1975.

At the same time, inflation remained high, and in order to promote exports, the Swedish Krona exchange rate repeatedly depreciated, which made the inflation situation worse. Before and after the signing of the G10 Agreement, the Krona exchange rate depreciated by 3% in 1976, first depreciated by 6% in 1977, then depreciated by 10%, depreciated by 10% in 1981, and then depreciated by 16% in 1982.

Until 1991, Kron had unilaterally affiliated with Eju and implemented a fixed exchange rate system.

Druckenmiller opened his eyes with his eyes closed, and a shimmer flashed across his brown eyes.

In Europe, Sweden and Finland face the same capital flow problems. After the reunification of the two Germanys, Germany continued to raise interest rates and the value of the Mark currency continued to rise.

Since Sweden is unilaterally affiliated with Eju, and the core weight of Eju is the German mark, it is transmitted to Sweden through the fixed exchange rate of Sweden, further raising the Swedish interest rate.

However, long-term high welfare has overdrawn Sweden's potential, causing signs of crisis in Sweden's economy. In order to prevent the crisis, the Swedish government proposed tax reform in early 1991.

At the same time, the central bank raised bank interest rates to implement a tight monetary policy.

As the currency tightened, the securities market plummeted by 30%, and real estate prices also fell by 25%.

isk5.8545 sold 666

.....

Looking at the Kroner trend on the computer, Druckenmiller did not hesitate anymore and picked up the phone decisively.

Dudu—

The phone rang twice and was connected.

"John. It's me, Stanley. I need you to build a position on the Swedish Krona."

"Yes. Short selling. $500 million."

“…”

What is a fixed exchange rate?

The exchange rate between a currency of one country and another country is a fixed exchange rate. However, in fact, a fixed exchange rate does not mean that the exchange rate is completely fixed, but fluctuates around a relatively fixed upper and lower limit range of parity.

The highest point of this range is called the "upper limit" and the lowest point is called the "lower limit". When the exchange rate rises or falls to the upper limit or lower limit, the central bank must take measures to keep the exchange rate unchanged.

Finland, Helkisin.

Six tall, burly and extremely tough-looking women stood in the office of German Investment Management in military posture.

If the Finnish Central Bank cried not long ago, the bank employee would have recognized one of the women.

There is no coincidence in the world, and under the general trend, there is never a coincidence.

However, when coincidence becomes a coincidence, it is best to choose to make coincidence a little more coincidental.

This is not a question of whether to be afraid or not.

".Ilina. Pay attention to safety on the road. If anything is wrong, safety is the first priority."

"Don't worry, Miss. Even if the Finns know that they have given them a hundred courages, they will not dare to touch us. We have not committed any crime."

"That's good. My plane has been arranged. When the airport is at the end, someone will pick you up."

"Miss, goodbye."

After saluting, Irina Shayk silently threw a requesting look at Shen Jiannan, turned around and left with a few people.

The only one left in the huge room was Qi Na and Shen Jiannan. They knew each other well and no longer needed any scruples. Qi Na cheered and rushed to Shen Jiannan.

"Dear. Are we doing Sweden now?"

"The word "lady, lady, fuck" cannot be spit out of your mouth."
Chapter completed!