Chapter 344: Chapter 338: Illogical â Part 2
Translator: 549690339
âI apologize, but we canât provide that much funding.â The man named Nell swiftly rejected the proposal. Are you joking? Although South California Standard Bank is the largest shareholder in Naspers Limited, it only owns roughly 22% of its shares. What if Naspers Limited ultimately ends up at a loss after receiving the funding? Who is then going to compensate for the bankâs losses?
Donât mistake that banks are fools. Bankers are among the most relentless and astute people in todayâs world. Their risk assessment abilities far surpass any other industry, they know exactly whatâs feasible and whatâs not, because finance is their business.
âMr. NellâŠ.â Another shareholder wanted to say something.
Nell immediately interrupted him, âItâs not that I donât want to provide funding for you, but the board of South California Standard Bank disagrees. I apologize, but currently, XX Bank of Flame Nation is the largest shareholder of South California Standard Bank, and they will certainly disagree with providing risky funds on this occasion.â
After hearing Nellâs words, the others in the room were shocked into silence, then couldnât help but let out a bitter laugh. Damn, how could they have forgotten about this?
âNow letâs vote. Either we square our positions and accept a loss of up to 160 billion Federal coins. Oh, no, our losses have already almost reached 200 billion Federal coins. In other words, if we square positions now, we could potentially lose absolutely everything,â said the Chairman of Naspers Limited, who was seated at the head of the table.
âSecondly, we could sell all shares in T Company held by MIH to end this incident. Since they are after Activision Blizzardâs shares, selling all of T
Companyâs shares will mean that we will lose our say in T Companyâs matters. However, we still have a chance to recoup our costs in the futures market. After all, the current low price of gold is âatypicalâ, itâs completely forced down by their horrifying amount of funds.â
âLetâs discuss it.â After finishing his statement, the Chairman of Napolis Limited rubbed his forehead. Thereâs about eight hours left until the markets close on LDâs side, while the market at Pearl Island City just closed and thereâs a whole night before it reopens.
âIf not, should we sell another 10% of T Companyâs shares? That should be about enough, right? Should we only retain 18% of T Companyâs shares?â proposed a director.
âForget it. Didnât you just receive the news? Theyâre madly suppressing T companyâs shares, and the Belmare Nationâs SG Investment Fund is just trying to pick them up cheap, reaching directly for T companies shareholders. They didnât hesitate to enter the crude oil futures market. SG is in a worse situation than us now. They didnât even give them a chance to maintain their original investment. The forced square up has already started. Moreover, SG is ruthless, throwing all their T company shares back into the market. Theyâre beginning to square up the oil market, ready to short sell, then cut their losses.â another suddenly said.
âWhat do you mean?â The other directors did not understand what he was
Implying.
âWhat do I mean?! Canât you understand? Canât you tell what type of person they are from this incident? We already offended them enough to kill us, right? After Mr. Duncan Tuckerâs words, donât you all understand? When they refused to continue negotiating with us, they were already prepared for this, right?â This director said quickly.
âThis⊠the problem is that continuing this way doesnât benefit them either, right? Theyâll suffer a lot of losses by pouring so much money into the market. Yes, it seems like theyâre dominating the prices, but theyâre not actually profiting because theyâre suppressing the prices everywhere, like in the gold futures market. Theyâre losing money every day, right?â Someone couldnât help but speak.
âEven if theyâre losing money every day, the losses arenât substantial as the prices follow their lead. Comparing the losses to their capital, which amounts to tens of trillions of Federal coins, itâs trivial. Moreover, they can afford to keep going, but can we? Isnât the futures market just like this? Itâs a test of who canât keep up. They can even command the flow of the market. Do you think we can resist?â The previously silent director seems to see the situation clearly.
After he said this, everyone nodded thoughtfully. Indeed, they know itâs impossible for them to keep it up, but they donât need to keep it up. They just need to last longer than them.
âSo what are you suggesting?â The Chairman of Naspers Limited asked the director.
âItâs simple. To use an old saying from Flame Nation, itâs like the resolve of a brave man severing his wrist! Sell all the shares in T Company, then gather funds. Anyway, having held T Companyâs shares for so many years, selling them now will still provide a big profit based on the current market price. Then, forcibly stop all the long positions in the gold futures market to cut our losses. Although weâve lost nearly 200 billion Federal coins, if we sell our shares, weâll still have about 400 billion Federal coins.â
âThe current gold price is artificially suppressed by them. Once they pull out, the price of gold will definitely start to rise. At that time, as long as we establish long positions at a favorable price, itâs very easy to recoup the losses.
What we lose is just the shares in T Company. But weâve sold it at a good price. Let go of what you have lost. This is currently the smallest way for us to cut our losses.â
âThis method is feasible. What do you all think?â After pondering for a moment, the chairman of Naspers Limited said.
âI agree.â Nell was the first to respond. Nell also wanted to resolve this matter as soon as possible. Damn it, if things go on like this, the Board of Directors of South California Standard Bank might go insane.
âI agree.â Once someone took the lead, several directors began to agree quickly. Although it seemed like a significant loss, they also knew that even if they didnât want to do this, theyâd be forced to. Moreover, if they didnât sell T Companyâs shares and directly squared up, they wouldnât have funds to recoup their losses. That would basically mean losing everything invested.
The LD stock index has been falling, but since Finn Lewis didnât make any big moves, the scale isnât too large for now.
However, when Naspers Limited held a meeting, the Prime Ministerâs office in the Great Alliance Nation urgently called in the Finance Ministers and relevant financial members for an emergency meeting. So much capital is fluctuating in the market, the officials from the Great Alliance Nation have no choice but to be alert! If they really start hitting the foreign exchange market, it means that the officials from the Great Alliance Nation will be forced to intervene in the market. Preparation is needed for such intervention.
Otherwise, at that time, things might get too big. So after convening the emergency meeting, the Ministry of Finance of the Great Alliance Nation conducted a press conference in the afternoon. Although they didnât explicitly state that the Great Alliance Nation is always ready to intervene in the market, they announced the current economic situation of the Great Alliance Nation this year, indicating that it is on the rise..