I Inherited 5,000 Years of Family Property-Chapter 649 - 647: Don’t Scare Them

Since last year, mortgage interest rates have risen by more than 1%, causing many young people in need of housing to cry out in despair.

Should inflation occur, banks are likely to further tighten lending, and interest rates may continue to rise. House prices are already causing enough despair; if interest rates rise further, even more people won't be able to buy houses.

Isn't the current culture of "lying flat" caused by not being able to afford houses? Since I can't afford it anyway, why should I work hard? Getting by is good enough!

Next would come a decline in output and a halt in national development.

All things are causally related! The nation absolutely cannot stand by and watch this happen!

...

"The upper echelons have approved the use of all foreign exchange reserves to combat this attack, and you must suppress the opponent's aggression!" the director of the Shanghai Stock Exchange immediately issued a command to fight to the death. He had already made a vow. If he failed, even if the authorities didn't deal with him, the public would not let him off.

"Team Leader Wang, I'm entrusting you with command of all the traders. You now have the highest authority. Can you handle it?"

"As long as we have enough money, there won't be a problem!" Wang Chendong accepted the daunting task. With the nation's 3.2 trillion US dollars in foreign exchange reserves, no organization, no matter how powerful, could possibly defeat them!

"Everyone follows my lead. Today we suspend all other operations. The opponent has come prepared this time. I estimate their funds to be between one to two trillion US dollars. If we win this battle, everyone will feast. If we don't, then we all submit our resignations!"

According to their wage structure, a large portion of their pay comes from business commissions.

This time around, the opposition has thrown down 500 billion US dollars, combined with the earlier 240 billion. If handled correctly, trapping all of their short positions, then they can take a big bite out of them.

At least several tens of billions of US dollars, possibly even upwards of a hundred billion! This money is essentially shearing wool from sheep! Most of it will go to the banks, after all, they are providing so much in US dollar foreign exchange and also bearing huge risks; a part also stays in the stock exchange.

But as the vanguard of this battle, the higher-ups have just made a promise to reward their entire team with a 1% commission!

"Don't overlook this 1%; as long as they can bite off 10% of this $740 billion, that's $74 billion, and their team will be able to split $7 billion!"

"There are over 200 people on the team, averaging out to $3.5 million per person, in US dollars. Even after taxes, that's probably more than what many people make in several years of work."

Upon hearing this news, the entire team was almost howling with excitement.

With $3.2 trillion as their backing, they never even considered the possibility of losing! On this battlefield, apart from operations, financial power actually has a greater influence, and they didn't think their operations would lose. So in their eyes, this money was as good as being handed to them for free!

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The team began to go long heavily, dumping $300 billion directly into the currency market, because that was their main battlefield. They had more control and agility, almost as if they were equipped with a halo of double leverage. As long as the opponent's funds were within double their amount, they were almost absolutely confident!

$300 billion in funds were thrown down, and the exchange rate suddenly surged by 1,200 points. Even the smaller institutions and private speculators knew that with such large amounts of money, it had to be government intervention!

As long as the nation's strength was present, the economy would absolutely not collapse. To make money, one must follow the policy, follow the nation!

The scattered funds also began to go long. Although they were small individually, together they added up to hundreds of billions, even a trillion US Dollars in scale!

"We've pulled it back!" Wang Chendong said with an expression full of confidence, "Now that you've come, I won't be polite!"

"Keep going long, push the exchange rate up another 500 points. Let's take a 5% bite to ease the frustration!"

"Got it!"

"As long as you can't pay enough margin, I can even make you blow up. $750 billion, and our bonus could increase tenfold!" Wang Chendong exclaimed with a commanding presence.

"Team leader, they've upped the ante again!"

"Damn, how do they still have so much capital? Another $500 billion, that's already over a trillion US Dollars. There aren't many countries in the world with a dollar reserve exceeding a trillion!"

"This isn't private capital; this is definitely nation-level!"

"No, that's impossible for just one country. This is probably the action of several countries working together; one country simply can't have such vast financial power."

"Have they all gone mad? Given Huaxia's economic importance in the world, if our economy collapses, it would bring down several other countries with it, and even affect the whole world. Can they afford such consequences?"

"Unless they have other objectives!"

"That is not our concern right now. What we need to worry about is how to stabilize the fall of the Huaxia currency exchange rate." Wang Chendong glanced at the plunging Huaxia currency which, despite their previous maneuvers that had given retail investors a lot of confidence, had still fallen by 10% from before the market opened.

"At this point, we can only fight," Wang Chendong knew there was no other choice, "Even if we have to use up all our foreign reserves, we must fight them to the end. Keep going long!"

...

The currency market was engaged in an exceptionally fierce battle, yet the instigator of it all, Zhang Menglong, remained very calm.

"Mr. Zhang, they've prepared $50 trillion. Our Huaxia foreign exchange reserves absolutely cannot withstand that. Right now, they're toying with us, but if they get serious, we won't last even half an hour. Should we intervene?"

"Don't rush!" Zhang Menglong watched as if enjoying a play, "They've been suppressed for so long, they should be allowed to let off some steam. If I intervene now, won't I scare them away? What if they take off with their money, then where would that leave us?"

"Our Huaxia currency market has already been harvested by them for nearly $100 billion!"

"No problem," Zhang Menglong remained nonchalant, "What they harvest now, I'll have them spit out a hundredfold later!"