[Chapter 919: It's Not a Conspiracy Theory, There Is a Conspiracy]
"Sir, we've already started."
"Hmm, be careful. This time, let's not reveal our intentions."
"Yes, we are being very cautious. The accounts at Quantum Fund haven't been touched at all."
"Haha, it will be known sooner or later. I just hope he becomes a bit impulsive this time."
Soros didn't expect that even before starting, William White already knew about it.
"Sir, there shouldn't be any reverse strategy--at most, it will just be following the trend."
"Not necessarily. His investments in Asia are substantial, especially in Hong Kong. If we touch his core interests..."
Soros scratched his head a bit. He certainly didn't want to let go of his interests in Hong Kong. However, the complexity of this situation was high. Not to mention the locals' disdain for him, even the competition would not ignore him completely. If William White got involved, it was better to tread carefully.
Soros knew very well that if it weren't for his background, he really wouldn't have the guts to go head-to-head with William White. Here in America, the reality was stark--your assets were just not on the same level, and no amount of boasting could change that.
Enjoying stirring the pot really was quite infuriating. William White found himself feeling quite resentful. Just as things were starting to settle down, why couldn't they ever let things be?
William White didn't get it; he simply didn't have the seniority. The eagle had stood strong for so long--what did he think it relied on?
Making a splash was a daily routine for the CIA. Economically, it was quite similar. You were called a dragon and a tiger, yet you didn't even know your own name?
Who do you think you are, a carnivore?
Why does Moore's Law have a pattern? Isn't it roughly every 18 months?
If it's shorter than that, those in the semiconductor field wouldn't make money, or at least not much.
One economic crisis every ten years? Doesn't that sound odd?
Ten years is about enough; too fat and hard to kill. If you poke the now powerful William White, it would lead to something serious.
As for the competition later, they were even bigger than dinosaurs. Even if they were just rabbits, they wouldn't dare to act recklessly.
To say it's a conspiracy--you could argue it's not entirely a conspiracy. Look at this big player; not only did they actively devalue their currency, but they also tightened bank credit.
Such a sudden brake led to significant losses, and the subsequent triangular debts all started here.
Honestly speaking, if those Southeast Asian countries had done the same, the so-called Asian financial crisis wouldn't have been possible.
Unfortunately, the choices were too painful. No one would dare to take the lead. The logic is simple: when the economy declines, approval ratings drop. A slip-up, and you might as well go home.
"Is it really going to be like this?"
"Paul, unless they voluntarily cool the economy, this tragedy is bound to happen."
Paul Volcker looked at Greenspan, uncertain of what to say. During his time managing the Federal Reserve, both inflation rates in America and most of the world had been quite low. The reckless exit from the Bretton system had basically worn off its negative effects.
Now, his previous efforts felt like they had turned to nothing.
"Alan, you know I don't like this approach. Inflation can indeed be redirected, but it's just one giant Ponzi scheme.
If one day, no one wants to use or hold the dollar anymore, are we going to have to go to war again?"
Greenspan forced a smile. Although he and Paul Volcker were friends, their economic views didn't entirely align.
Paul Volcker believed the U.S. should take on the responsibility of a great power and not pass its crisis onto others. Greenspan felt that as long as control could be maintained, the dollar's status in international exchange could still be secured.
On the surface, their opinions seemed opposed. But in reality, Volcker also thought some level of inflation could be acceptable, as long as the money supply was strictly controlled.
Control--that was where their disagreement lay. Greenspan was rather naive. If simply printing money could solve the problem, why did he think those politicians would restrain themselves?
If Greenspan didn't listen to advice, he might as well join Paul Volcker teaching at a university. In later years, the big family names in the Federal Reserve basically stopped playing the game anyway.
Cough, cough, it had really become unplayable. One day, they would be torn apart by the angry masses.
No war, no large-scale natural disasters. Even in such a time, a peanut farm could go bankrupt. Can you imagine the dire straits they'd face if a war broke out?
"Paul, a war is unlikely. Even though the CIA keeps talking about threats, we all know it. Small-scale local wars might happen, but something like the Vietnam War, it is improbable.
Okay, okay, don't look at me like that. They can't even beat the disorganized crowd in Somalia. I find it hard to believe they could take on anyone else."
What? Things went reasonably well?
Cough, cough, you can't treat Black Hawk Down as a documentary. That thing is called a movie. Though it was anti-war, it intentionally promoted quite a few mainstream themes.
Cough, cough, I just want to ask this: if things weren't playing out so poorly, would you have to seek rescue from your brother in Pakistan?
Acting all heroically, treating war like a picnic--naturally, the outcome was terrible. The gory scenes were quite frightening.
"Never mind, let it be. Hope the kids today learn something from this."
Paul Volcker was genuinely disappointed. The students today were far more impatient than they were. Earning money, making more money--that was the only thought they seemed to have.
William White was unaware of his pretentiousness, and even if he did, he wouldn't care. Yes, it couldn't be denied that he was a great economist with his own professional ethics.
However, to end the Bretton system and utterly destroy the original currency system--that was all his doing.
In fact, all of today's events were known to him when he made that decision.
Since Pandora's box had already been opened, there was really no point in sorrowing over it. Your exhaustive efforts were essentially meaningless, just adding to your worries.
Rather than saying everything has become more expensive, it's better to say that money has lost its value.
Everyone talks about how the yen has lost thirty years. Indeed, their situation is quite miserable. If you want a decent retirement, it's best to wait until you're 70 to receive your pension.
But how many of you know that thirty years ago, a bowl of beef rice was around 500 yen, and thirty years later, it hasn't increased much at all?
As for housing prices, don't even get me started. Houses in Tokyo are much cheaper compared to those in Shanghai. Here, they are still about seventy years old, while others buy permanent usage rights.
Rent?
The landlords in the Land of the Rising Sun are probably the most oppressed in the world. They can't raise prices unless they prove their rents are the lowest in the area.
Don't worry, as long as there's one place priced lower than yours, you won't be able to increase your rent.
Understand why real estate investors from Rabbit Country don't invest in the Rising Sun?
The risks are too high; with a low rent-to-price ratio, when can they recover their investments?
That setup from Rabbit Country doesn't work very well here. To casually kick someone out of their house, you are just dreaming. If tenants don't want to move, you can slowly wait it out.
"Sir, we can depart now."
"Yeah, let's go. By the way, beyond Thailand, keep an eye on other places too. There's no need to be so secretive about any tiny place. When trouble arises in Mexico, a bunch of surrounding countries suffers.
In my opinion, such chain reactions happen everywhere. Moreover, the surrounding countries tend to follow similar paths."
William White was puzzled. It was hard to tell if it was Mexico that inspired Soros or if he already planned to do this from the start.
*****
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