Super Spender-Chapter 344 - 338: Illogical – Part 2
Chapter 344: Chapter 338: Illogical – Part 2
Translator: 549690339
“I apologize, but we can’t provide that much funding.” 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 bank’s losses?
Don’t mistake that banks are fools. Bankers are among the most relentless and astute people in today’s world. Their risk assessment abilities far surpass any other industry, they know exactly what’s feasible and what’s not, because finance is their business.
“Mr. Nell….” Another shareholder wanted to say something.
Nell immediately interrupted him, “It’s not that I don’t 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.”
After hearing Nell’s words, the others in the room were shocked into silence, then couldn’t help but let out a bitter laugh. Damn, how could they have forgotten about this?
“Now let’s 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,” said the Chairman of Naspers Limited, who was seated at the head of the table.
“Secondly, we could sell all shares in T Company held by MIH to end this incident. Since they are after Activision Blizzard’s shares, selling all of T
Company’s shares will mean that we will lose our say in T Company’s matters. However, we still have a chance to recoup our costs in the futures market. After all, the current low price of gold is ‘atypical’, it’s completely forced down by their horrifying amount of funds.”
“Let’s discuss it.” After finishing his statement, the Chairman of Napolis Limited rubbed his forehead. There’s about eight hours left until the markets close on LD’s side, while the market at Pearl Island City just closed and there’s a whole night before it reopens.
“If not, should we sell another 10% of T Company’s shares? That should be about enough, right? Should we only retain 18% of T Company’s shares?” proposed a director.
“Forget it. Didn’t you just receive the news? They’re madly suppressing T company’s shares, and the Belmare Nation’s SG Investment Fund is just trying to pick them up cheap, reaching directly for T companies shareholders. They didn’t hesitate to enter the crude oil futures market. SG is in a worse situation than us now. They didn’t 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. They’re beginning to square up the oil market, ready to short sell, then cut their losses.” another suddenly said.
“What do you mean?” The other directors did not understand what he was
Implying.
“What do I mean?! Can’t you understand? Can’t you tell what type of person they are from this incident? We already offended them enough to kill us, right? After Mr. Duncan Tucker’s words, don’t you all understand? When they refused to continue negotiating with us, they were already prepared for this, right?” This director said quickly.
“This… the problem is that continuing this way doesn’t benefit them either, right? They’ll suffer a lot of losses by pouring so much money into the market. Yes, it seems like they’re dominating the prices, but they’re not actually profiting because they’re suppressing the prices everywhere, like in the gold futures market. They’re losing money every day, right?” Someone couldn’t help but speak.
“Even if they’re losing money every day, the losses aren’t substantial as the prices follow their lead. Comparing the losses to their capital, which amounts to tens of trillions of Federal coins, it’s trivial. Moreover, they can afford to keep going, but can we? Isn’t the futures market just like this? It’s a test of who can’t keep up. They can even command the flow of the market. Do you think we can resist?” The previously silent director seems to see the situation clearly.
After he said this, everyone nodded thoughtfully. Indeed, they know it’s impossible for them to keep it up, but they don’t need to keep it up. They just need to last longer than them.
“So what are you suggesting?” The Chairman of Naspers Limited asked the director.
“It’s simple. To use an old saying from Flame Nation, it’s like the resolve of a brave man severing his wrist! Sell all the shares in T Company, then gather funds. Anyway, having held T Company’s 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 we’ve lost nearly 200 billion Federal coins, if we sell our shares, we’ll still have about 400 billion Federal coins.”
“The 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, it’s very easy to recoup the losses.
What we lose is just the shares in T Company. But we’ve 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.”
“This method is feasible. What do you all think?” After pondering for a moment, the chairman of Naspers Limited said.
“I agree.” 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.
“I agree.” 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 didn’t want to do this, they’d be forced to. Moreover, if they didn’t sell T Company’s shares and directly squared up, they wouldn’t have funds to recoup their losses. That would basically mean losing everything invested.
The LD stock index has been falling, but since Finn Lewis didn’t make any big moves, the scale isn’t too large for now.
However, when Naspers Limited held a meeting, the Prime Minister’s 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 didn’t 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..
