I Inherited 5,000 Years of Family Property-Chapter 650 - 648 Are You Interested in Making Money Together?
At this moment, the currency market battle had escalated to a do-or-die situation. Any slight relaxation by one party would immediately put them at a disadvantage, and retreating now would incur a severe cost.
Up to now, both sides had flared up with intense competitiveness — it was as if leaving now would be an admission of defeat!
"It's already 5 trillion US Dollars! How much money do they still have?" Wang Chendong's hands were shaking, the opponent's financial resources were far more formidable than he had imagined.
"The Huaxia's trading team is actually this powerful!" The European side was also deeply alarmed. Compared to Huaxia, they had spent twice the manpower and financial resources. Weren't the most powerful financial talents in Europe and on America's Wall Street? Why did Huaxia still have such capable traders?
The European team's chips had already reached 7 trillion, while Huaxia's foreign exchange market input had also almost reached 4 trillion US Dollars!
Unknown until revealed, Huaxia's foreign reserves were not just the publicly announced 3.2 trillion US Dollars — they far exceeded this figure!
This was an experience Huaxia had gleaned from years of struggling on the international platform: never reveal your full hand, always leave a surprise for your opponent!
In fact, Huaxia's true foreign exchange reserves were close to 5 trillion US Dollars!
But this time, they had miscalculated. Who the hell would have thought that one day half the world would unite to launch such a massive attack on Huaxia's economy and market?
Even if they had predicted it, there really was no way to resist it. After all, the war on currency was still about who had more money. The US Dollar was just America running its printing presses, and even if Huaxia could save up, could they accumulate 10 trillion? 20 trillion? 30 trillion? This was undoubtedly impossible.
Of course, even America could not print money indefinitely, but this gap was still very hard to bridge.
5 trillion US Dollars thrown in, any country's foreign exchange market would have been obliterated, but in this war, it merely stirred a wave.
The Huaxia currency's exchange rate returned to the morning's 6.67, but then a sell order of 300 billion US Dollars plunged Wang Chendong into despair.
They had used up all their ammunition, and with so many long positions, once they started to press down the stock price, they would face a margin shortage, and at that point, they might even risk a margin call!
What is called a margin call? It meant that the smashed 5 trillion US Dollars would be completely lost, and the foreign exchanges painstakingly accumulated over the years would all become the spoils of others!
"Calculate our current losses," Wang Chendong said with a grave expression.
"Leader, based on the current exchange rate, our funds have already been plundered by 800 billion US Dollars! Even if they do not continue to invest, I estimate that today's exchange rate will break 7.5, and our losses will definitely exceed 1 trillion US Dollars!"
"It's over," Wang Chendong thought of the military order he had set in the morning, and his vision went dark.
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At this point, forget about any bonus, he didn't even know if he could keep his job, losing 5 trillion US Dollars from the national foreign exchange reserves would be the biggest stain of his lifetime!
At three in the afternoon, the foreign exchange market closed, and everyone's face was shrouded in gloom.
The opponents had clearly made enough for the day, so they did not continue their attack, but they had been utterly defeated.
Today's loss had reached 1.07 trillion US Dollars, which was simply the biggest loss in Huaxia's history in financial market confrontations!
The Huaxia currency's exchange rate directly hit 7.721, almost returning to the levels from more than a decade ago!
But no one blamed Wang Chendong, because the opponents had invested over 10 trillion US Dollars in this confrontation. Whoever took his place would have lacked the confidence to do better, and might even have been defeated when the opponents escalated to 70 or 80 trillion US Dollars.
In the evening, a trending search swept the nation into panic — the Huaxia currency was devalued, and prices might surge tomorrow.
The four major banks had already adjusted the lending rates to 6.1%, but it was foreseeable that tomorrow it would not stay at this figure, and the adjustment range would definitely be beyond imagination! It was even uncertain whether loans could still be issued.
Prices rose, bank interest rates rose, but wages did not increase, and, naturally, the consequences need no explanation!
That evening, an urgent meeting was immediately convened. Regarding this sudden situation, they ultimately could only conclude one thing: to stabilize the current situation, they had to start printing money! But this was just a temporary solution; if they couldn't find a permanent fix, they might end up the next Venezuela.
What made people most desperate was that the Modu Exchange had already exhausted its US dollar foreign exchange reserves, and they still didn't know who their enemy was this time!
...
"Old Zhang, did you see the news?"
"What news? I'm playing games! Wanna join?"
"You've still got the mood to play games at this time, you don't know what happened today?" Wang Ling almost screamed.
Because of his close relationship with Zhang Menglong, Wang Ling's father had begun to slowly hand over his assets for Wang Ling to manage. With Zhang Menglong's help, the past year had been extremely smooth, counting money until their hands cramped.
A few months ago, Wang Ling had also invested 10 billion US dollars in the foreign exchange market. With his team's management, they had made a few tens of millions of dollars in the past few months.
But who would have thought that something like this would happen today, the Huaxia currency was plummeting!
Due to Zhang Menglong's influence, Huaxia's prestige around the world had been increasing, achieving outstanding accomplishments in various domains, so the Huaxia currency had been appreciating recently. Wang Ling had aggressively gone long when he entered, and with this major trend, it was simply a sure win.
Today, however, he not only lost all the previous gains but even ended up with a net loss of 1.2 billion US dollars!
Since Wang Ling started investing, when had he ever faced such a loss in one day?
"It's just currency devaluation, no big deal," Zhang Menglong laughed, "In the trading market, as long as you haven't withdrawn your investment, you never lose!"
"You really have a good mindset!" Wang Ling said speechlessly, "Locked in there, who wants to withdraw? But these losses are visible; I just can't believe you're so calm. You must have thrown money in here too, right? How much did you lose today?"
"Not much, just lost 30 billion US dollars!"
"Not much... I really want to assassinate you tonight!" Wang Ling's mouth twitched. His entire fortune wasn't even 30 billion US dollars, and to lose so much in one day, Zhang Menglong was indeed very calm.
"There are many who want to assassinate me, take a number and line up!"
"Stop messing around, my dad got some inside information. This time it's not international speculative capital nor financial institutions. It could be certain regions conspiring to deliberately attack our currency market!"
"I know."
"You know?"
"Nonsense, they're targeting me," Zhang Menglong laughed, "Their attack on our currency market is simply to force me to make a move, probably scared them off recently."
"They're targeting you?"
"An alliance of 89 nations' financial forces. Do you think our few trillion US dollars in foreign exchange reserves can hold them off?"
"What? Are they insane? Do they want to declare war on us?"
"Declare war? They're not worthy," said Zhang Menglong, "However much money they brought this time, I'll at least skim half of it. Are you interested in getting rich with me?"
