Chapter 975 - Dark War (2/2)

Kerry nodded, fully comprehending.

It was important to convince Celestial Trade to allow the US dollar for settlement, but they couldn’t give Celestial Trade the feeling that it is too important.

Just after Celestial declared that Xin New Dollar as the only settlement currency for space trade, the exchange rate market experienced quite peculiar fluctuations, just like most stocks that bottomed out and rebounded to the original exchange rate at an incredible rate.

Although there were many ideas speculating on Celestial Trade’s decision, central banks collectively made the same decision; to increase their holding of the Xin currency.

If Xin New Dollar was the sole currency for outer space trade, then in order to develop its own aerospace industry with the space elevator, then a rigid demand for Xin New Dollar now exist for their country. Considering that other countries had similar demand, the Xin New Dollar now had room for appreciation, so the central banks all shared the same view.

That was to buy Xin New Dollar from the foreign exchange market with its own currency.

Under the influence of these external factors, it naturally promoted the appreciation of the Xin currency.

As early as when the Xin New Dollar dove to the bottom, Jiang Chen bought a total of 212.7 billion US dollars worth of foreign exchange assets, according to the exchange rate at the time, he purchased 943.1 billion worth of Xin New Dollar for the New Reserve. Now, the exchange rate between the Xin New Dollar and the US dollar was almost the same.

In this event, Jiang Chen has turned over 212.7 billion US dollars of funds held by Future Group and Celestial Trade into 943.1 billion of US dollars in funds.

The reason why it jumped up and down like a seesaw was because low circulation of the Xin New Dollar. For any other major currencies, unless it is a financial tsunami, a large fluctuation is almost impossible.

“Financial instruments are obscure.”

When Xia Shiyu put a financial report on Jiang Chen’s desk, Jiang Chen exclaimed.

Even for Future Group that has grown to the present level, 943.1 billion in US dollar was still an astronomical figure. Although the money was all in Xin New Dollar, the exchange rate was to remain stable in the foreseeable future.

A large-scale printing of banknotes, a long-awaited regulation on the settlement currency, the two paper documents allowed Future Group to sweep more than 700 billion US dollar in just one month, creating Apple out of thin air.

“The US fiscal revenue is only 5 trillion US dollars a year. Even for a country, 900 billion US dollars is not a small number.” Xia Shiyu moved a chair over and sat across from Jiang Chen. Holding her chin, she smiled while studying Jiang Chen’s expression, “How are you going to respond?”

The financial market is a zero-sum game.

It does not create any value in itself. If someone makes money, then it means someone must have lost money. More than 700 billion US dollars was not from thin air, but the intelligence advantage of Future Group that beat the Federal Reserve and the Wall Street predators who manipulated the foreign exchange market.

It’s hard to imagine that they won’t fight back.

“Their means will be nothing more than attacking the Xin New Dollar in the foreign exchange market, suppressing the exchange rate by short selling, and forced our low-priced banknotes to rot in our hands while destroying the economy of the country.” Jiang Chen smiled.

Xia Shiyu looked at Jiang Chen with some surprise.

“Are you surprised?” Jiang Chen was keenly aware of the surprise in her eyes and grinned. “Well, I do also study.”

Although this financial battle has nothing to do with him, everything was directed by the professional financial team of Future Bank and these theories were learned from David Smith.

“Stop bragging,” Xia Shiyu rolled her eyes and got up from the chair. “The long-distance power transmission device on the lunar colony will start tomorrow. Are you sure the laser beam will not poke a hole on Earth?”

Jiang Chen opened his hands and helplessly said.

“How many times have I told you, even if it shoots at Earth, it won’t penetrate the ozone layer.”