"Woo woo, give me my money back, I don't want to play anymore."

In the instant when the market opened at noon, millions of sell orders poured in, completely blocking the lower limit. The cotton futures price fell from close to 3.3 to more than 2.69.

In all, more than 6000 yuan disappeared.

Disappearing along with it was the bulls' hope of survival.

It's not the board that is closed, it's the life of the bulls!
Wang Xiaoyu was still struggling until he saw a short seller in the group post a screenshot of the news broadcast, which clearly stated 350 million tons of inventory.
"No~ it's not true, haha, you can't fool me!"

"My money is all borrowed. Now it's all over. I can't even close my position if I want to sell it. Damn it. There are 3 million lots in the queue ahead of me. When will it be my turn?"

"It's all fake, it's a lie. Oh, where are the main bulls? Pull them up quickly and resist!"

What are the main bulls doing now?
In the dying struggle.

It is impossible to lift the board and any investment of less than 10 billion US dollars will be wasted, unless a top investment bank takes the lead and finds a way to lift the board and actively save itself.

But this takes time.

Time is of the essence!
The four major grain traders tried to resist at the moment of the market crash, but they could not withstand the combined force of the three top forces in the world, which smashed the market with hundreds of billions of dollars using leverage.

There is more capital to block the board following behind, and it looks like whoever comes will be the loser.

There is no shortage of funds, both the four major grain traders and international hot money. The problem now is that the fundamentals have undergone a shocking reversal.

Big funds can reap the benefits of small retail investors without paying attention to fundamentals. As long as the funds are sufficient, they can reap the benefits at will.

The key is that you have money and others also have money, and what everyone is competing for is the influence and control over policy trends. Whoever can gain broader support will win.

"We haven't lost yet. Let's contact the Ministry of Commerce and ask them to block Dongda's textile imports. Anyone using Dongda's cotton stock will not be allowed to enter the European and American markets.

Forced Dongda to compromise and import our cotton stocks at a high price...

Notify the Chicago Stock Exchange that trading cannot open tomorrow under any circumstances and an emergency suspension must be implemented!
No matter what the cost, even if we have to tear down the entire exchange building and cut off the power supply to the network, we must not allow the stock price to continue to fall to the limit tomorrow, otherwise it will be all over."

There are capable people among the four major grain traders. They clearly realize that the situation is irreversible. "Quickly contact Goldman Sachs and Morgan Stanley and ask them to coordinate large funds if the amount is large enough.

Maybe we can turn the tide, as long as we raise the price again, giving us enough time to save ourselves, or even get the exchange to change the rules.

Yes, contact the person in charge of the Chicago Stock Exchange immediately and find a way to change the rules. All short position holders must be allowed to participate in delivery.

Our institution bears such a huge risk and enters the delivery period early. Why don’t retail investors have to do this?
The funds that entered the market to short sell this time were obviously premeditated and unified actions, and they should be regarded as institutional operations. Yes, that’s what we should do, as long as we enter the delivery period!
They must close their positions in advance, and we will have ample time to operate. By then, we can not only recover the losses, but also take the opportunity to harvest the short positions..."

From this, we can see that Dongda was forward-looking in winning over top financial institutions such as Goldman Sachs and Morgan in advance. This was a brilliant move.

One way is to divide and reduce obstacles.

The most important thing is the Chicago trading market, which is on someone else's territory.

The rules of the game are set by American capital. You can make money based on your own ability, but if the amount is tens of billions of dollars, you have to prevent others from pulling the plug, refusing to pay, and playing tricks.

For example, the four major grain traders and some small and medium-sized investment banks on Wall Street have suffered huge losses of tens of billions of dollars in agricultural futures. They are already motivated enough to force the exchange to change the rules at all costs.

As long as the short sellers have to enter into the physical delivery stage, the main long funds will be able to make a comeback.

Unfortunately, Goldman Sachs and Morgan Stanley rejected the offer at the first opportunity. Are you kidding me? There is no one in the world who can snatch food from their mouths. Why don’t they just admit defeat?
The four major grain traders are taking action, Goldman Sachs and Morgan are also taking action. Together with the traditional forces behind Bank of America, the two sides have joined forces and are almost a decisive force in the United States.

Soon, the Ministry of Commerce sent back a message that any restrictive policies that attempted to hinder economic globalization would not be supported by the Ministry of Commerce.

The exchange’s response was simpler: change the rules?

How dare you ask Goldman Sachs and Morgan if they agree?

They are the biggest short sellers in the market. In just one and a half days, they held short orders worth tens of billions of dollars through proxy holding and entrusted trading. They could earn billions of dollars every time the stock price hit the limit down.

Will these top investment banks compromise before the four major grain traders and the state-owned assets game are exposed?

It was not until then that the four major grain traders came to their senses. After all this time, the financial investment banks they relied on had already turned against them?

A sense of despair loomed over the four major grain merchants...

"Now, it's all over, what should I do, say something!

Are you all dead?!"

From the daily limit to the daily limit, Taishan Sect's Lu Zhiqiang was definitely the most panicked one, "Speak! What should I do now!"

He kept repeating these few sentences over and over again.

Because there is no other way.

With more than three million orders placed there, they cannot even close their positions and stop losses. It takes more than 200 billion yuan of funds to seesaw first, and only after the seesaw can their long orders be sold and closed.

The problem is, only a madman would use 200 billion to rescue the 100 billion that is trapped.

The scene was dead silent.
Until Boss Duan spoke up quietly, "There is no other possibility except the national team that can mobilize such a large amount of funds to enter the market.

We have all been fooled. The 350 million tons of inventory is such a good trick! This is to drive us to death."

"What should I do now? Can I get my losses back?"

Jack Ma was still frightened, but he patted his chest and breathed a sigh of relief. Fortunately, he was slow in raising funds, and the market closed just when he had invested a small portion of the second billion.

Together with the 10 billion in the first phase, he was trapped in it for about 13 billion. Due to the late time of taking over, his purchase price of holdings was between 2.99 and 3.29. Now the overall loss is about 5 million.

However, it is hard to say what will happen next. According to the current futures trading rules, only when the third board hits the limit down will the exchange be allowed to step in, control the accounts of both long and short parties, and conduct forced hedging and closing of positions.

By then, it's too late.

Because the long side actually had to suffer four limit downs, the funds bought at the limit up on the 11th were lost from sky-high to earth, which is equivalent to a huge loss of 20%, taking into account the 2x leverage.

The actual loss was as high as 40%.

Looking at the development of the situation, everyone clearly understands that 2.69 is not the limit of cotton prices. If it falls by two more limits, the price will only be around 2.17.

What concept?

3.29-2.17=1.12, and doubling the position means taking over the long position at 3.29, with an actual investment of about 1.64 in principal, a loss of 1.12, and 5200 yuan left.

The overall loss was as high as about 70%.

At first glance, it doesn’t seem like much, at least 30% of the principal is left.

The key point is that there are problems with the sources of funds, including the comprador group, Jiangsu and Zhejiang hot money, and Squid Capital, which even involve more serious black money, usury, and illegal funds.

To put it simply, this is not their money, but money borrowed through high financial leverage.

It’s like when an ordinary person buys a house, 100% of the down payment is borrowed, and he or she also has to bear more than 100% long-term interest. To buy a house worth 30 million, the actual expenditure is (down payment).

Adding a loan of 70 and interest above 70, the actual expenditure was 170 million.

Now that the house price has dropped, only the down payment is left, resulting in a huge loss of 140 million. What should I do?
Ordinary people might be able to just give up, or pay it back slowly by working, but the key is that Lu Zhiqiang and others borrowed money through special channels, and the interest rate is more than 100%. They want stable profits.

If you can’t take it out, you’ll die.

The atmosphere of despair was spreading, and everyone was in a state of panic. They were all trembling with fear at the thought of the horrible ending.
"Get back the losses? I'm afraid this time even the principal won't be recovered."

Boss Duan no longer wanted to talk, he just wanted to be quiet.

However, as the leader who organized this market control operation, he could only hold on, "The long orders held by everyone here alone amount to more than one million lots, even if the three-board forced liquidation rule is triggered.

It is also impossible to close all positions at the first time.

According to the original rules set above, the price must at least fall back to the reasonable range of 1.5. In other words, it would be a blessing if you can get back 1/5 of the money you invested.

This amount of money is not even enough to pay the interest on the funds from special channels."

He sighed and said, "My old bones are not worth dying for, but everyone here, especially Mr. Lu, is in big trouble. Don't forget, the mortgage documents you just signed, how happy you were when you got the money, how desperate you are now."

Shi Tiezhu suddenly woke up, "Shit, I invested all the money I had to pay to the distributors and suppliers. What if I can't get it back?"

He didn't dare to think about the consequences any further.

Guo Guangchang's mouth was bitter, and he trembled as he said, "You only have a few billion. I'm afraid Fuxing is doomed this time. I mortgaged all my shares and now I can't get the money back.

Once the capital chain breaks, the entire group will collapse.”

"Me too. I invested all my working capital in it and also borrowed a large sum from the People's Livelihood Department."

"Damn it, I thought it was a sure win, but it turned out like this, what should I do?"

"Boss Duan, you have to find a way. My money came from special channels in South America and Central Asia. If I can't pay it back, not only me, but even my family won't be able to survive."

"That's right, Boss Duan, you said you would help us get rich this time, but now something like this has happened, how can you be responsible?"

In the face of interests, even Yang Yuanqin could not sit still and took the lead in questioning: "Boss Duan, all of us have invested our lives and now we can't get it back.

The company might be implicated. You said that with Sita Capital leading the charge, there won’t be any problems. What should we do now?”

Boss Duan said angrily, "You ask me, who should I ask?"

"Fuck, this wasn't your attitude when you asked me to come in."

"That's right. I was doing well in the feed business, but you called me to Yanjing and I lost 7 million in just one or two days. Shouldn't you be responsible?"

"Someone has to be held accountable for this loss."

All of a sudden, all the shareholders of the Taishan Sect and the Minsheng Department started to clamor.

Such serious and huge losses have affected the normal operation of their own groups, especially those who have invested large sums of money through high leverage, who are now facing the risk of bankruptcy and running away.

The tremendous pressure made it difficult for everyone to breathe. Those with hot tempers didn't care and angrily accused the leader.

Boss Duan also lost his entire fortune this time. Seeing that everyone was pointing the finger at him, he simply threw in the towel and said, "Responsible? Who's responsible?

We are all respectable people, and no one is holding your hand to invest money. What's the point of looking for me now that you have lost money?"

"Bah! You were the one who started it, and now you want to deny it?"

"Fuck, I've been fed up with you for a long time. You're relying on your seniority to boss things around. We share our profits with the foreign investors, but we also share with you and the people behind the scenes. Why?"

"You old fellow, you surrendered before us, you were very active in collecting money, but when something goes wrong, you just pass the buck. How can it be that good?"

Even though we all appear noble in front of others, with a net worth of billions, and our every move and gesture exudes a superior majesty, once something happens, the special halo of money, wealth and status is stripped away.

Even worse than ordinary people.

When they thought about losing their huge wealth and everything they had, they became extremely angry and some even resorted to violence.

Boss Duan was caught off guard and received two punches. He became furious, but unfortunately his old arms and legs could not run fast. He could not dodge or fight back, so he could only be beaten up by the angry crowd.

"Stop hitting me. If you continue, I'll kill him."

"Quick, quick, pull Boss Duan out. You guys were so cruel to an old man, aren't you afraid of retribution?"

The attacker had lost his mind and cursed, "Retribution? Isn't it the biggest retribution to follow him and lose everything?
Don't stop me, I'm going to beat him to death today."

Not everyone likes to engage in financial speculation. Among the members of the Taishan School and the Minsheng School, there are also some who are down-to-earth and engaged in real business operations.

However, this time, in order to revive the prestige of Taishan Sect and reverse the decline after Liu Aiguo's arrest, Boss Duan specially came forward to gather everyone together and promised a guaranteed profit.

Even Jack Ma invested money with the intention of dividing up the Qingyun Group, let alone others. In short, they are all birds of a feather who come together for the sake of profit.

Fortunately, some people didn't lose much, such as Jack Ma and Li Yanhong. They couldn't bear to watch it and stepped forward to stop it, otherwise it would be difficult for Boss Duan to walk out alive today.

Facing the death threat, Duan Lao cried loudly while covering his injured eye. "I am old, and you still beat me. When you made money, why didn't you say that I forced you to earn it? You are all beasts!

Besides, I just took the lead in going long, and I also lost so much myself. If you want to find someone, you should find that guy Lu Zhiqiang. It’s him, it’s all him. If it weren’t for him, he wouldn’t have called the bank’s credit department.

We wouldn’t have lost that much, and we wouldn’t have had the chance to get the money in the first place.”

At critical moments, it is human nature to prefer the poor to the good.

Lu Zhiqiang was originally in despair, because he had in his hands a bunch of loan documents signed in violation of regulations, involving funds worth tens of billions.

It's okay if you make money, you can cover up the traces through internal accounting. Even if the higher-ups investigate, it's nothing more than an illegal operation, and you can just find a scapegoat to take the blame.

But now there are huge losses, and they have lost all their money. It is impossible to cover it up, and they have no ability to make up for such a big loss. It is only a matter of time before something goes wrong.

The best outcome that awaits him is to be put in jail for life. If he is not careful, he will be eliminated in the household registration book.

Now, he has no time to pay attention to other things. He is only thinking about how to get out of this situation. It would be best if he could find a way to make some money from the People's Livelihood Department and run away.

At the very least, we must find a way to settle our family down.

As I was thinking about it, I suddenly realized something was wrong. Before I could react, I was pinned to the ground and beaten by the angry crowd.

But as the fight was going on, someone noticed something was wrong. The mortgage documents that had just been signed were scattered all over the floor. When they picked them up and took a look, they immediately became excited.

"Hey, that's not right. It seems that the funds did not enter our bank account just now, but were directly invested in the securities company."

"real or fake?"

"That's true."

More and more people gathered around, picked up the documents on the ground and looked at them carefully for a while. The crowd cheered, and then someone lowered his head and said grimly, "Boss Lu, please help me."

Lu Zhiqiang hadn't reacted yet. The beating just now made it difficult for him to open his eyes. "What?"

"For the sake of the fact that we are all on the same boat..."

"It's time to be direct. Mr. Lu, you're screwed this time. Don't even think about getting away."

Someone sneered, "Do you think we are the only ones stuck in this and can't get out? Squid Capital also has a lot of money stuck in it. With such a huge loss, they will definitely look for someone to take the blame.

You can’t run away, so you might as well hurry up and bear all the responsibility for this illegal operation. These loans will be regarded as your illegal operation…”

Lu Zhiqiang's eyes widened. "Impossible, these are all entered into the system, with your personal signatures and company seals!"

"But the money didn't go into our company's public account! Don't forget, it was you who said that in order to save time, we quickly transferred funds to stabilize the market. Everyone present can testify to this.

You violated the rules and misappropriated the loan that should have been given to us."

It is very common to use private workarounds. If you make money, these are not a big deal, but now there is a huge loss, it is embarrassing.

Even Jack Ma and Li Yanhong did not refuse. The interests involved are too huge. If there is one person who can come forward to take all the responsibilities, why not do it?

Lu Zhiqiang also understood the situation and was speechless for a moment~
I don't know who whispered in his ear: "Of course, it's not completely hopeless. If the 350 million tons of cotton held by Qingyun Group can disappear from this world.

Perhaps the situation can be salvaged.”

Lu Zhiqiang was stunned, a crazy idea echoed in his mind...

On the 11th, the agricultural products and raw materials trading market hit the ceiling and floor, and countless people who participated in the long position lost all their money.

Especially in the Jiangsu, Zhejiang and Fujian regions, there are more serious private leverage and personal loans involved.

On that day, several people who were deeply trapped and unable to extricate themselves chose to commit suicide to avoid dragging down their families.

On the 12th, when the market opened in the morning, the stock price continued to fall to the limit without any surprise, which made more people choose to go to the rooftop to enjoy the scenery... (End of this chapter)