I'm Just Panning for Gold, What Does the Gold Price Drop Have to Do with Me?

Financial crisis, big salary cuts, fresh graduates fighting fiercely for a job paying only 1,200 yuan. Fresh graduate Chen Feng couldn't stand the gap and became a loafer at home, smoking and d...

Chapter 666 The Mad Eagle

"If we keep selling like this, won't they get suspicious?" Li Guanghao couldn't help but ask.

"Of course we will. According to the intelligence at the time, we had run out of rare earth elements, so we can't sell them like that tomorrow."

"Starting tomorrow, 30,000 tons a day, to give them some hope for life." Zhang Ce had already made the plan.

"My God, these white guys are practically hooked. Haven't they contacted Zhang Richeng yet?" Qi Minglin chuckled.

“I’ve contacted them and sent many messages. The best thing to do now is not to reply at all; that would be the best response,” Zhang Ce said shrewdly.

“Yes, saying too much will only lead to falsehoods. Let them guess for themselves.” Chen Feng nodded in agreement.

The government takes the lion's share, while he takes a smaller share. In just twenty days, Chen Feng has already earned 50 billion yuan! 50 billion yuan!

Earning 50 billion in 20 days? Seriously, with that kind of efficiency, even if you let Chen Feng search for minerals non-stop, he still couldn't earn that much.

"That feels great. I hope the congressmen will give me some support. Whether my savings can reach 100 billion depends entirely on you guys," Chen Feng said, leaning back in his chair and taking a comfortable sip of tea.

Inside the White House, no one could laugh anymore; they all looked worried, as if a huge burden was weighing on their shoulders.

Some representatives even pointed out that their countries' small investment companies are already facing debt crises and their survival is hanging by a thread.

"It's been twenty days. Logically speaking, China should be out of rare earth elements. Are you sure the intelligence is correct? Who would do something like this?!" A white man couldn't help but yell at William.

“Why are you yelling at me? I also got the information from the intelligence personnel. He has been sending us a lot of information, and none of them have been wrong.”

“If I don’t trust him, do I trust you?” William retorted without backing down.

"Alright, stop arguing. So what's the situation now?" an older white man asked with a sigh.

“Zhang’s silence is understandable, though I’m very anxious, but it’s perfectly normal for an intelligence officer,” William said in a deep voice.

"So what should we do now? Should we continue buying tomorrow?" someone asked, shrugging.

"We'll see how things go tomorrow," the older white man said, taking a deep breath, thus ending the meeting for the day.

The next day, the White House received both good and bad news.

The bad news is that China is still selling rare earths, but the good news is that China has begun to reduce its output, which has now reached 30,000 tons.

“China can’t hold on any longer. All the newly found mines have been sold out, and they’re probably starting to use their existing stock to make ends meet!” William said with absolute certainty.

“But if this continues, we won’t be able to hold on any longer. Let’s lower the price,” someone finally said.

Although everyone was unwilling, they could no longer put up with the situation.

We still have to eat it, but the price has to be lowered.

As a result, international rare earth prices, which had remained at their peak for so long, began to fall for the first time.

It dropped from 340 times the normal price to 280 times.

This news suggests that both China and the United States are on the verge of collapse, and now it's a matter of who has the stronger foundation.

“Tsk tsk tsk, they couldn’t hold on any longer. Luckily, they reduced the amount, otherwise I estimate they would have been scared away by us, which would have been a huge loss.” Zhang Ce laughed as he looked at the report.

"Should we continue selling?" Qi Minglin asked.

“Sell it, of course I’ll sell it! Just kidding! It’s two hundred and eighty times the price! If you don’t sell now, when will you? This is a once-in-a-lifetime opportunity!” Zhang Ce said matter-of-factly.

When rare earth prices fall to less than ten times their original value, China exports rare earths and reaps huge profits from the global market!

This was also the first time Zhang Ce had experienced what it meant to be a capitalist.

Although this capitalist position was entered into passively.

With 30,000 tons of rare earth sold daily, China sold for another half a month, causing the price of rare earth to drop again, reaching 220 times its original value.

"My God, can anyone tell me how much rare earth element China actually has!" one of the four major mining companies said somewhat frantically.

Recently, one-fifth of the allies have declared bankruptcy and withdrawn from the alliance.

The others are also struggling to stay afloat, and even the four major mining companies are on the verge of collapse.

“Hold on, they’re almost at their limit too. If we give up now, all our previous efforts will have been for nothing!” William said, his lips pressed tightly together.

Everyone present knew about this, but they couldn't help but grumble.

Things are different now than what the intelligence said. Who knows what's going on!

Now you're in a bind; you have to buy in even if you're forced to.

And so, China sold rare earth for a whole month, 30,000 tons a day, which amounted to a total of 900,000 tons a month!

Adding to what was sold before, China has sold nearly three million tons!

The White House is already on the verge of collapse, and even the four major mining companies are struggling to survive, resorting to loans from the United States to stay afloat.

"Damn it, damn it, what's going on? Didn't they say China only had one million tons? How come they have three million tons now?!"

"Moreover, China shows no signs of stopping; it's still selling out every day!"

The calmest old white man was now furious, slamming his fist on the table and yelling.

“We’ve already invested nearly 800 billion yuan, and we haven’t heard a word from them. Can anyone tell me what to do now?” someone panicked and looked at the crowd.

Eight hundred billion US dollars, which is equivalent to five trillion RMB!

That's almost half of the world's annual military spending.

Now all this money has been given away to China for nothing. Isn't this just asking for trouble?

"Should we still persist?" a national representative asked, looking troubled.

"If you insist on continuing, please, America, grant us a loan. We really have no money left," another country representative said, taking a deep breath.

He is now filled with remorse and regret, wondering why he listened to the United States and joined them in reaping the benefits of China.

Is China so easy to exploit? Now, not only have we failed to gain anything from China, but we've also become mired in a quagmire, unable to extricate ourselves.

"Let's wait and see. If China can still sell rare earth elements, then we'll accept our loss."

The old white man looked around the room and said those words in a heavy voice.

As for repaying loans, where would the United States find spare money to lend them money right now?

They really think everyone's a big shot!

The four major mining companies were all deeply troubled and filled with regret. Had they not shot themselves in the foot? If they had known it would turn out this way, they would never have considered shorting China.

The following day, China continued its leisurely sale of 30,000 tons of rare earth, which directly caused the international market to collapse completely.

It dropped from 220 times to just over 30 times.