Rebirth: My 80s

Chapter 240 Traps and profiteers
"I don't care, you have to give me half of the money!"

"Why should I share the deal with you?"

“This house is half mine!”

"...bad luck! Hey, hey, I'll give you five dollars."

"What do you think of me as a three-year-old? With such a black heart, there are more than ten people, and I only charge ten yuan a day?"

"Made, if you don't believe me, where can you ask?"

In the evening, the fire was raging downstairs. Li Jiankun was lying in a room on the second floor, happily listening to it as a play. After all, the night was long.

Although the brothers Xiong Daxiong and Xiong Er have the same name, they are far less in love with each other than the two beasts in the forest.

Silent all night.

The next day.

The morning light is fading, and early morning is always the busiest time at the Chung Ying Street boundary marker. Residents from Sha Tau Kok, New Territories, gather here and line up, preparing to go to the mainland to buy food.

Some are daily purchases by ordinary people.

Some are vegetable vendors and wholesalers.

Sir, who is usually very cold-hearted, turned out to be particularly talkative today. After checking the pass, he did not forget to give a kind reminder.

"Go over there and try to convert the Hong Kong dollars you have into RMB. You will use them every day anyway."

"What's wrong, sir?"

"The credit crisis is coming, and the Hong Kong dollar is going to plummet."

"what?!"

Every Hong Kong City resident who was "kindly" reminded was shocked and shocked. This was a major event closely related to their net worth and property.

How could we not pay attention to it?
This "reminder" naturally comes from Li Jiankun. In fact, he is really not talking nonsense, so he is not worried about smart people licking it.

This is one of the most tumultuous periods in the history of the Hong Kong dollar.

Before 1972, the Hong Kong dollar had been anchored by the British pound, which was called the "sterling exchange standard". It adopted a mechanism that combined a fixed exchange rate system and currency issuance.

To put it bluntly, as the pound changes, the Hong Kong dollar must follow suit.The pound was still very strong during this period, so the Hong Kong dollar has been very stable.

But in June of that year, as the ten-nation group headed by Great America signed the Smithsonian Accords in Washington, the pride of the empire that the sun never sets made them unwilling to be manipulated by Great America. In an attempt to get rid of the fixed exchange rate mechanism centered on the US dollar, it announced that the pound would be decoupled from the US dollar and the exchange rate would be freely floating.

The Hong Kong dollar will naturally float accordingly.

It's just that pride is pride. The British guy is actually quite vain in his heart. He is not sure whether this is good or bad.

I decided to let my younger brother demonstrate it.

Just over ten days later, in July 1972, the Hong Kong government announced that the Hong Kong dollar would be decoupled from the British pound and directly pegged to the US dollar.

However, the linkage is not complete. It is only the exchange rate, but not the currency issuance.It can be seen that Hong Kong City is a good piece of meat in the hearts of British people, and they are reluctant to let it be financially out of their control.

This exposes many problems.

In terms of exchange rate peg, the fixed exchange rate between the Hong Kong dollar and the US dollar must rely on the intervention of the Exchange Fund to maintain it.

It's not a long-term solution at all.

In November 1974, the Hong Kong government was forced to announce the decoupling of the Hong Kong dollar from the US dollar and the implementation of a free floating exchange rate.

Since then, the Hong Kong dollar has no longer been anchored to any foreign currency and has entered an "anchor-free period".

This seems to be a good thing, and the port city has indeed been prosperous for several years, but for a snatched child, do you really think that its wild father really loves it?
The wild father just wants to squeeze its value. After tasting the sweetness of the Hong Kong dollar's own wave, the Hong Kong government has repeatedly relaxed financial credit and printed money like crazy, triggering a sharp depreciation of the Hong Kong dollar——

That’s how the exchange rate for RMB dropped to 20:100.

This is not the end of the story. Thatcher’s visit to China in 82 will also unleash another bomb.

As for your question about why Li Jiankun knows so much?

He studies something.

Therefore, when Sir A was officially reminded, the residents of the port city at the boundary marker were all frightened.

I would rather trust it to have it than to trust it to have nothing.

There’s nothing wrong with rubbing it too!
"Sir, I can't help but come back later."

"Me too, I'll go back and get more money."

"Thank you sir, otherwise this would have been a big loss!"

The merchants on half of Chung Ying Street in Sha Tau Kok, Yantian, are very curious as to why the customer flow is so sparse this morning.

Fortunately they were not kept waiting long.

After a while of silence, the flow of passengers became more intense than before.

"Brother, give me ten kilograms of Chinese cabbage!" "I want twenty kilograms of radishes."

"Are there [-]-pound potatoes in a box?"

Hoohoo!

Is there a famine in the port city?

This scene was played out at the same time in almost every agricultural and sideline food store.

Although they didn't know what was going on, the merchants all smiled crookedly.

HKD received hand cramps.

"Brother, look at me buying so many things, let's discuss it."

"what?"

"Exchange some RMB for me, but don't slander me. I won't talk about grocery shopping if it's vague."

"...Okay, how much will you change?"

"Five thousand?"

"What?! Why did you exchange so much?"

"Hum, don't you want to go back to your hometown to visit your relatives?"

This reason makes sense, and the amount of exchange is reasonable, but in one shop, this scene was happening:
Fok Chi-hsiung is a vegetable wholesaler in Sha Tau Kok, New Territories. He purchases vegetables from here every day and sells them in towns around the New Territories. He usually pushes a cart over and puts it in a cart.

A mainland merchant named Ah Rong, who has regular cooperation, has become accustomed to it and has prepared goods for him in advance.

But what Arong didn't expect was that Huo Zhixiong would temporarily increase his dosage today.

"Ah Rong, how many vegetables are there in your warehouse, such as onions and potatoes?"

"That's a lot, each weighing several hundred kilograms."

"Give it to me."

"Ok?"

"I said give it all to me, I want it all."

After Ah Rong confirmed that he heard correctly, he couldn't help but feel happy. What's the problem?
He was busy asking his brother-in-law and a helper to go to the warehouse to pick up the goods, and he didn't notice at all that Huo Zhixiong was sitting on the cart, smoking and worrying.

Even if the onions and potatoes add up to a thousand kilograms, they are not worth much.

Frankly speaking, since the opening of Zhongying Street in the past six months, he has still made a lot of money from cooking vegetables.

He doesn't want his hard-earned money to go to waste because the exchange rate has plummeted.

"Arong, come here."

"What's wrong, Brother Xiong?"

Huo Zhixiong handed over a Marlboro, Ding!Use a kerosene lighter to light him up.

"Ah Rong, I have to do a big deal with the mainland recently. The other party only accepts RMB. I don't have that stuff. Can you exchange some with me?"

"Harm, brother Xiong, what's the relationship between us brothers? You just say how much you want to exchange for just one word from you." Arong said boldly.

"Sixty thousand Hong Kong dollars."

"How many?!"

Arong's eyes widened, can I give you my fucking shop?
"Brother Xiong, don't be joking."

"Who are you kidding me? I brought all the money." Huo Zhixiong patted his bulging pocket. Hong Kong dollars have a large denomination.

In fact, he felt a little sorry after all. Ah Rong was a pretty good person, at least to him.

But as the saying goes...a dead Taoist friend is not a poor Taoist.

This kind of scene is not an exception, but whenever the wholesalers in the port city take action, the amount they want to exchange today is not small.

Mainland merchants are not stupid, they smell an ominous atmosphere.You know, the residents of Hong Kong City usually dislike the RMB. This thing has no liquidity at all in Hong Kong City. If something goes wrong, there must be something evil!
But they haven't figured out what kind of monster it is.

The residents of Hong Kong City are not stupid either. If they want to transfer the risk, why do they tell others so clearly?

Then who cares about you?

The current situation is: Hong Kong people want to trick the mainland traders on Zhongying Street, but the mainland traders are a little wary and are still kept in the dark for the time being. Regular customers exchange RMB for a small amount, but out of face, they exchange it for them.Dadui...I'm sorry, the landlord's family doesn't have any food left.

The confrontation between cheats and profiteers.

But there was a wolf who wanted to swallow them all.

I will stay on the second floor of Xiong's house and lead a group of people to assign tasks.

(End of this chapter)