Chicago, Global Futures Exchange.
The second week of the "Silver Massacre" has begun.
The entire market was in a state of panic.
Under the double iron fist of "Rules Seven of Silver," which only allows closing positions and prohibits opening new long positions, and "margin requirements increased by 100%," silver futures prices plummeted from a high of $35.
$18.
$16.
$15.
The price has stopped here for now.
This does not mean the market has stabilized.
Instead, all the long positions that could be sold, those that were panicked, and those that lacked resolve were already liquidated at a loss during the first week's sharp decline.
All that remains are the real giant crocodiles.
For example, the Hunt brothers.
For example, Lin Huowang, the Huo family, and the "First Legion" of the Continental Alliance held $2.5 billion in long positions.
At a price of $15, they relied on their substantial funds to temporarily cover the margin call for the first round, like two desperate islands struggling to stay afloat.
The entire market is waiting.
Let's see who falls first.
...
Dallas, the Hunter brothers' luxurious office.
The eyes of the Nelson Hunter and William Hunter brothers were bloodshot.
They've been guarding this place for almost ten days.
During this period, they kept making phone calls, trying to raise more cash from banks, conglomerates, and even Saudi Arabia's allies.
But it didn't work.
Faced with the "rules" jointly issued by the CFTC (Commodity Futures Trading Commission) and the exchanges, no one dared to lend them money anymore.
“William…”
Nelson Hunter spoke in a hoarse voice.
“Our oil, our real estate… everything that can be mortgaged has been mortgaged. We… have no cash left.”
"Hold on!"
Nelson Hunter grabbed a cigar from the table, only to find his hands were shaking so badly he couldn't light it.
"The price has stopped at 15 yuan! They can't drive it down any further! As long as we hold out through this wave... as long as they dare to loosen the rules... the price will definitely rise back up! Then we'll retaliate fiercely, and I'll make sure the price keeps rising to 100 yuan!"
William Hunter was almost frantic, shouting in despair:
"Remember! We are the kings of silver! We have stockpiled hundreds of millions of ounces of physical silver! We cannot possibly lose!"
That damned Easterner is still holding on, isn't he? He hasn't run away, so why should we? He must have another trick up his sleeve! He…”
"Ring ring—!!"
The red exchange's dedicated phone line suddenly rang shrilly.
Nelson Hunter jolted awake and grabbed the phone.
"Hello?!"
On the other end of the phone, the agent's almost desperate voice reported:
"boss……"
"The CFTC and COMEX... have just issued... Emergency Order No. 2."
Nelson Hunter's heart seemed to stop beating instantly.
"They said... in order to further curb market manipulation... all silver contracts' margin..."
"Increase it by 100% again!"
"What?!"
Nelson Hunter's vision went black, he almost fainted, and he cursed furiously:
"Increase it by 100% again?"
"They're robbers! They're committing murder!"
"How dare they do this?!"
"gentlemen……"
The agent's voice was also filled with helplessness as he said:
“We…all of our futures accounts…have…completely been liquidated.”
The exchange...demanded that we...replenish...$5 billion in margin within one hour..."
"Another $5 billion..."
Nelson Hunter dejectedly released his grip, slamming the phone receiver onto the table with a thud.
It's over.
It's all over.
William Hunter slumped to the ground, his eyes vacant.
"what to do?"
"What do we do?" Nelson Hunter muttered to himself.
"We still have... stock available!"
As if grasping at the last straw, he suddenly raised his head, his eyes flashing with a final, frantic light.
"We still have hundreds of millions of ounces of physical silver!!"
"Sell them!!"
"Sell on the spot market!!"
"We need cash! We need to replenish our margin! Then we can fight back..."
"Quickly! Immediately! At all costs! Sell off all the available stock!!"
...
Hong Kong Island, Hong Kong Club.
In the cigar room on the top floor.
Newbikin and others from the "British-owned short-selling alliance" are having a small celebration.
"James, how's it going? Is that Japanese wolf dead yet?"
Niu Bijian swirled the red wine in his glass, his mood practically at its peak.
He had been waiting for this moment for far too long.
James, holding a telegram, excitedly shouted:
"Kindergarten!"
"A great victory! Fantastic news!!"
"The US exchange has just issued its second emergency order! Margin requirements have been increased by another 100%!!"
"Smack!"
Upon hearing this good news, Newbijian immediately smashed his wine glass on the ground in excitement!
"Hahahaha! I knew it! I knew the US government would definitely intervene again!"
“Big Boss!” James continued his report, “The market…the market has completely collapsed! The Hunter brothers…the Hunter brothers are going to be liquidated too!”
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