Chapter 948 – Why must it be here? (1/2)

“Uncle Fu, how many people had agreed to let you handle their funds?” Feng Yu laughed and asked.

“Many. I didn’t expect them to be so crazy. They are all gambling with their wealth.” Fu Rongqi shook his head. These people are daring.

Betting all their a.s.sets in an industry is normal, even if they had to lose all their money. But they were blinded by their greed.

There may be profits for them, but there are risks. Fu Rongqi did not expect all of the Hong Kong tyc.o.o.ns to be so reckless when it comes to investing. This is a joke!

The total funds invested by those tyc.o.o.ns amounted to over 1 billion USD. But what they had done had also allowed Feng Yu and Fu Rongqi to gather everyone’s funds together. Fu Rongqi only needs to give those tyc.o.o.ns 10% of the profits according to the agreement signed between them. The rest of the profits will belong to Fu Rongqi!

Fu Rongqi had also signed an agreement with Feng Yu. They will cooperate, and the profits will be split based on proportions. Superman Li also join them and invested a few billion USD in Fu Rongqi’s fund, letting him manage it.

“We should start preparing. From tomorrow onwards, we will start to attack Korean Won.”

Those tyc.o.o.ns had all shorted Korean Won, and the futures contracts are all transferred to Fu Rongqi’s private equity company. Most of the profits will go to Fu Rongqi and Feng Yu, and Korean Won depreciating will benefit them.

Korean Won had shot up suddenly should be the works of Soros, and he must have bought lots of long position future contracts. The only way to make Soros suffer losses is to make the Korean Won rate drop.

Also, by attacking Korean Won, South Korea’s economy will suffer and will stop those powerful Korean enterprises in their tracks.

……

“Boss, our guess is correct. Those Hong Kong tyc.o.o.ns are trapped in the market. They had all short Korean Won, and very few of them do hedging.” Drucken Miller excitedly said.

“Hmph! Those short-sighted people only thought about profits and had not considered whether if they can save themselves. Did anyone step forward to help them?” Soros asked.

“We had been monitoring Feng and Fu’s funds. They should be preparing to attack the Korean Won. Should we continue to push Won rates up, or should we settle those contracts now and start to short it?” Drucken Miller asked.

“We should let them use more of their funds to attack Won first, and we must start to short Korean Won. This way, when Korean Won rate drops, we will get more profits.”

Soros swirled the wine gla.s.s he is holding. The previous two times, when all of them shorted the Forex market, Soros had been the one leading the attacks and Feng Yu following behind him to reap the profits. This time, he must make Feng Yu put in more effort, and he will hide behind to earn money. He can also withdraw from the market suddenly, trapping Feng Yu’s funds there to fight against the South Korean Government!

Until now, Soros still does not know how much funds Feng Yu has. He only has a rough estimation of those Hong Kong tyc.o.o.ns’ funds.

Soros had used up all his cards and will not have any more new funds coming in. But still, have his reputation. For example, he is not the only person pus.h.i.+ng the Korean Won rate up. He had contacted a few international speculators for cooperation.

This time, Soros is pretending to be pus.h.i.+ng Korean Won up, and make Feng Yu and his allies to invest more to depreciate Won. After that, he will switch when Won reached a high position, and he will make more profits than Feng Yu!

Soros can also cancel his short position contracts earlier and push up Korean Won’s rate. This will make Feng Yu and his allies suffer ma.s.sive losses!

……

“President Park, our Won rate had dropped suddenly. Someone is dumping Won in large amounts!” Someone rushed into the office.

“Why is this happening? I thought Soros and those people had left?” Park Yoos.h.i.+n was shocked. He was still thinking of ways to stabilize Korean Won’s rate. Why did the rate fluctuate again?

“We are not sure, and we had been monitoring Soros. It must be someone else, or Soros is using some accounts unaware to us.”

“Has Soros canceled their contracts?”