Lu Feng knew what was happening in the world at this moment, but he was too weak to participate in the conversations about these things.
Compared to his previous life, Lu Feng now has a new understanding of the world. If in his previous life Lu Feng thought that money could buy anything, now Lu Feng deeply understands that money is really fragile. This world is not built on money, but on national strength.
In his previous life, he had also hesitated and made a choice between a large country with small people and a small country with large people.
The phone calls from London came in one after another, with senior management engaging in intense communication through various channels. They didn't care about Jiafeng Group; they cared about influence.
As dawn broke, this night was destined to be a sleepless one for many. Quantum Fund and Tiger Fund had already sold off all their futures contracts. Yesterday, they borrowed new contracts through several banks and opened short positions, and they went short as soon as the market opened today.
This futures deal earned Soros and Robertson over a billion dollars each.
As trading resumed, tungsten ore prices began to rise, though not as dramatically as yesterday.
On Wall Street, Soros arrived at the company early and held a morning meeting to confirm that the borrowed futures contracts had been credited to his account. Everyone was full of ambition; such an opportunity was too rare for them. Now the news had spread throughout Wall Street, and many financial companies were eager to try it out.
Within half an hour of the market opening, Soros and Robertson began their attack on Schroders, with a large number of contracts being released. The buyer's market was very tight, and there were hundreds of millions of transactions in just half an hour.
As the morning session closed, Soros and Robertson dumped all their chips, but it didn't budge the price at all, which surprised them. Where did Schroder get the confidence to support the price like this?
Half an hour after the market closed, the London Futures Exchange suddenly announced that, given the high volatility of tungsten ore futures, and in order to ensure greater fairness and protect the interests of participating companies, and in accordance with the principles of stable sales and balanced prices, the May tungsten ore delivery must be completed by trading companies that meet the required specifications, with specific requirements for the product's grade.
This news caused an immediate uproar. Strictly adhering to the futures exchange's product delivery standards means that several US companies will be unable to use the US Treasury for product delivery, leaving them with no choice but to default.
On Wall Street, Soros stared blankly at the faxed message in his hand, repeatedly asking his manager if it was true. The manager replied that it was a message from half an hour ago.
"This is a British sanction against us, something that has never happened before!"
"What do we do now?"
Everyone panicked. It was clear that this was aimed at them. They had opened short positions, hoping to buy back the shares after the price fell. If the price didn't fall before delivery, they would face defaulting on the futures contracts they had borrowed.
At Schroders, John smiled as he looked at the situation. With less than ten minutes until the afternoon session opened, a large group of people had gathered in front of the computers in his office. John instructed the traders, "Once the market opens, push the price up immediately. They'll either buy high-priced contracts or wait to default."
Everyone present had smiles on their faces; it was clear that Robertson and Soros had both fallen into the trap.
As soon as the market opened, the price shot straight up, easily breaking through $80,000 amid gasps from retail investors in the exchange, and then surging straight to the $90,000 mark. This number, which ordinary people would never dare to believe, was pierced as if it were made of paper.
On Wall Street, Soros and Robertson covered their faces with their hands upon seeing the situation, both looking extremely frustrated. The manager next to them was already frowning, the situation was worse than they had imagined.
"Prices have stabilized, should we buy them back?"
Soros took a deep breath. He couldn't accept the fact that he had sold it for 70,000 in the morning, but had to buy it back for more than 90,000 in the afternoon.
But the price is still rising, otherwise I wouldn't be able to close the position.
However, there is another way: to get those companies in South Africa to resume production. Once they start producing, no one will be willing to pay such a high price for a ton of tungsten ore.
“Don’t buy it. Contact those companies, and also contact government departments,” Soros said in a deep voice.
The price of tungsten ore futures stabilized at 100,000 at the close.
The two sides resumed their phone exchanges. In contrast to their busy schedules, Lu Feng became quiet. Apart from answering a few calls, he seemed quite powerless. He wandered around Cape Town, made some contact with the local court, and then all that was left was to wait.
On May 10th, with just over ten days left until the futures settlement, Lu Feng received a call from John, telling him to go back first, as there was no point in staying there. Before leaving, Lu Feng went to see the ambassador, who also told him to go back first and bring some people with him.
The situation here is a bit chaotic, but the overall situation is stable now, and there shouldn't be any major problems.
On May 11th, Lu Feng led twenty people to take off and return to China. When the plane landed in Shenzhen, Lu Feng was the last to get off the plane. Instead of going to the company, he went home first.
Lu Feng's second aunt was called over to clean the house and take Duo Duo to and from school.
"Lu Feng is back?" Second Aunt was overjoyed to see Lu Feng and said excitedly, "I haven't seen you for many years. You've grown more and more handsome."
"When did you arrive?" Lu Feng asked politely.
After exchanging a few pleasantries, Lu Feng went upstairs to his room. Compared to his previous successes, he felt powerless this time. He had done nothing, and if it weren't for Schroeder, there would have been no chance of turning things around.
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