[Chapter 918: Drinking Poison to Quench Thirst Doesn't an Being Oblivious]
"Basong, you said you wanted to et my boss. I hope you don't let down. Otherwise, you know the consequences."
William White ca to Lanai Island not just to see his stonemason. In fact, he had more important matters to attend to.
Basong Chalanpon was an executive at a major bank in Bangkok. Those working with William White discovered that he had connections with Soros and certainly wanted to get to the bottom of what was happening.
"Mr. Basong, I'm William White. Please, sit back and relax. Let's start with so coffee, we have ti, no rush."
Calming himself, it seed that this guy had co to a realization too. Clearly, Soros wanted to do sothing that required a spokesperson. Otherwise, without help, Soros would be practically worthless.
"I know we often run a deficit of 20 billion US dollars, but how could our external debt reach 70 billion?"
"Asian banks, Mr. White, they're all partly funded by foreign money. After the earthquake, they seem to have increased their capital outflow. But when we ask for US dollars, they only have yen."
"Haha, well in that case, won't that boost their economy? As for international exchange status, they're overthinking it."
"Yes, Mr. White, the next piece of information is extrely important. I need assurances."
"Sure, it's either money or safety. However, there's a prerequisite--you know goods have corresponding values."
"Of course, two million dollars, and I need assurances for my family's safety as well."
"If your intel holds that value, you'll be assured. If it doesn't, I wouldn't gain from it either."
"Well, on the surface, Bangkok seems vibrant, with a booming stock market and real estate sector. But all this overseas capital is funneled into a virtual economy."
"Hmm, that's good analysis, certainly overheated. If the revenues could balance out..."
"Mr. White, that's impossible. Our external debt was less than 20 billion in '92. By the end of this year, that figure could reach 80 billion."
"Hmm, go on."
"Soros asked us to help him open accounts; many are offshore companies. So personal accounts are ridiculous--those guys probably never left their rural roots."
"Just these?"
"Not just these. I have good connections in finance; according to what I know, he has at least a hundred different accounts, and I have detailed information on them."
William White was surprised that this old wolf Soros had started laying his groundwork so early.
"So he plans to short sell?"
"Yes, I can provide tily updates on their trading."
"Good, your safety is assured. Tanner, give him a Swiss bank account, two million."
"Got it, sir."
This information was certainly worth two million, considering that Soros had siphoned billions from Asia. And now, there was soone who could report at any ti.
Of course, they needed to verify this guy's background. Two million was not a big deal, but if he betrayed them, they needed to know how to retaliate.
After Basong Chalanpon left, William White couldn't help but feel a bit emotional. It wasn't that the U.S. sches were so clever; one executive from a bank could guess a lot from subtle clues. How could those in high positions not understand?
However, after being poor for so long, wanting to transform from an agricultural to an industrial country without paying a price was impossible.
"Sir, this guy..."
"Have people keep an eye on him; after all, he needs protection."
"Sir, I don't understand economics, but this is a country. How could Soros dare?"
"Haha, can't you see? Just look at what's happening in xico! They agreed to all the IMF's conditions.
To be honest, I run a bank too, but I'm not nearly as ruthless as them. If I'm right, this is a super conspiracy. Those old geezers hiding in the sewers want complete control of their economy."
William White refrained from saying more. Losing economic control ant losing sovereignty.
Aid was real, and relief efforts were genuine. If they didn't intend to compromise, they may as well return to farming.
With an external debt of 70 to 80 billion dollars, how long would it take to sell rice?
The U.S. could easily halve oil prices, so how hard could it be to reduce grain prices?
Moreover, if the populace lacked cohesion, it would be disastrous; there would be no chance of turning things around.
Soros?
He was just a pawn, wanting to amass wealth. Just like his speech trying to wash away his sins, capital was neither good nor bad; there was no such thing as justice and evil. If economies had issues, he'd swoop in. He made a lot of money and left, guaranteeing he wouldn't lose a feather.
Well, it certainly sounded reasonable as if it was those countries' own problems.
How should one put it, without vast amounts of capital injections--unless these countries had gone mad--how could they accumulate such massive debts?
Infrastructure construction was precisely what they had vigorously recomnded. Without so many low-interest loans, they wouldn't have been so aggressive.
The U.S. had this down pat. In reality, they didn't have too many conspiracies; a book of thirty-six strategies was more than enough.
William White felt a bit down; just as things were improving in Lanai, it seed they were about to face another blow.
Due to its geographical location, the rich looking to unwind here were predominantly Asian, more than their Western counterparts. Now, if an Asian financial crisis hit as expected, his mbership base could shrink by at least twenty percent.
Stir things up?
He was joking! He didn't plan to die young. Soros's attack on the Thai baht wasn't accomplished in one fell swoop; it took three or four attempts for him to finally succeed.
Was there a force majeure elent involved?
The answer is yes.
From a vested interest perspective, they certainly didn't want Thailand to face problems. In order to make the yen a mainstream currency, they'd been quite active these past two years. Not only were they the main creditors, but they were also significant investors.
A sudden assault is one thing; you could argue that it was a case of not being prepared. But standing by while a stalemate ford was rather strange. One should realize that there was an Asian bank behind this; it certainly wasn't just Soros who could shake things up.
Yet, they chose to remain oblivious, even when facing their crises.
To put it simply, if soone really wanted to deal with that leaping Soros, he'd definitely be finished.
You think the U.S. would hesitate to ddle with the dollar? They'd ensure you end up questioning everything about life.
Of course, if you lost money, it was no big deal. The U.S. acted like an unscrupulous dealer. Losing a little money would be fine, but if you dared to win big, they'd find a way to skimp out.
Soros created chaos in Asia, yet they didn't dare to confront him while remaining silent. Even the most exuberant among them had no intention of making a move.
Just look at those with backers; their treatnt differed significantly. Try switching roles with soone else, and jail ti would be the least of your worries.
Capital has no morality?
Such nonsense could easily be served as gospel to people. It looked like Soros wasn't serious during his college years; one wondered how he even graduated.
The morality of capital is clearly defined in several capital theories; it was just his disapproval. Furthermore, if you've secretly operated so many accounts, is it not all improper?
*****
spatreon/Sayonara816.
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