I looked at my father Jackie Chan in 1988

July eleventh.

Eleven futures exchanges that trade soybean futures around the world announced the results of their investigations and severe punishments at different times.

The Tokyo Grain Exchange issued a document stating that there are several companies holding a large number of soybean futures with long or short positions, especially the long part, and almost all the positions are in the hands of one company, yes, it is Fuzi Company.

As for the short position, there are also a large number of companies holding a large number of positions, and these companies are launched by Citibank, State Street, and Vanguard Group!

At around noon that day, the Tokyo Grain Exchange also issued the most severe punishment ever!

First, stop all new trades in companies with short or long positions exceeding 280 million bushels.

Second, at the opening of trading on July 230, any individual or corporate household with a short position or a long position of more than 20.00 million bushels in the July soybean contract must reduce its position and reduce its share by at least [-]% every subsequent trading day.

Third, increase the margin for any individual and legal person account with a long position or a short position exceeding 230 million bushels!

The global futures market is in an uproar again!

Before everyone can discuss it, the Brazilian Futures Exchange also announced the results of the investigation and the decision on punishment!

Next, [-] exchanges in the world that conduct soybean futures trading announced the investigation results and punishment decisions one after another!

The results are basically similar to those of the Chicago Board of Trade and the Tokyo Grain Exchange. Those companies were the ones that were hit by the thunderstorm. The punishment results are almost exactly the same except for the position limit.

In fact, reducing positions can still support these big companies, but raising margins is terrible!

Increasing the margin will affect the impact of the account funds during the transaction. The higher the guarantee, the lower the cost of buying a lot of futures, and the greater the leverage, the greater the risk; the lower the margin, the smaller the leverage, and the greater the cost of buying a lot of futures.

Whether it is the Rockefeller family, State Street Corporation, Vanguard Group or Citibank, they are all at least ten times leveraged. This sudden increase in margins put them on the verge of forced liquidation!

Next, either call for a margin!

Or watch the forced liquidation!

The Rockefeller family is the most uncomfortable, because everyone knows that the major futures exchanges have given such punishments, and the price of soybeans is bound to plummet. At that time, even if the Rockefeller family increases the margin, they still cannot escape the fate of liquidation!

Anyone with a discerning eye can see that the global deployment of soybean futures by Fuzi Company not only failed, but also lost a penny, and the margin call will only lose more!

Vanguard Group, State Street Group and Citibank are slightly better, because soybean futures prices will definitely fall in the future. As long as they can add enough margins, they can at least recover some losses, but the major futures exchanges expressly stipulate that next It is necessary to reduce the position in a large amount, and still cut it at a rate of more than 20.00% per day. I am afraid that even if it lasts to the end, the three major groups will lose money and vomit blood!

……

Sure enough, soybean futures closed on July [-], and several companies with huge positions were forced to reduce their positions, and Fuzi Company was unwilling to call for margins, which led to a sharp drop in soybean prices!

Soybean futures were trading at 250 [-] cents per bushel before trading was halted.

However, just after the market opened, the price fell to [-] cents within a few minutes!

This violent price fluctuation has frightened many retail investors to take action one after another and continue to voluntarily close their positions.

Although the beautiful country futures had a circuit breaker mechanism in [-], this circuit breaker mechanism can be triggered three times a day.

For example, when the S&P index falls by 5.00%, the trading time will be suspended for 15 minutes, not directly on the same day.

The second circuit breaker is that the S&P [-] fell by [-]%, and trading will be suspended for one hour.

The third circuit breaker was that the S&P index fell by 20.00%, and trading was stopped that day.

But each limit will only be triggered once a day. For example, if the price falls to 5.00%, it will trigger the primary market circuit breaker, and then the price will rebound. When it falls to 5.00% again, the circuit breaker will not be triggered again, unless the price drop triggers the secondary market circuit breaker. A drop of 20.00% during the trading session will trigger a circuit breaker in the tertiary market, and trading must be stopped that day.

Originally, the fuse mechanism was to protect the market.

But because the price of soybeans fell too sharply, the circuit breaker mechanism suddenly became the source of panic for many retail investors. They were afraid that their soybean futures would not be able to close their positions before the circuit breaker. .

The price fluctuates more violently!

Half an hour later, the soybean futures price had fallen below 190 cents!

The first fuse of the day took effect!

Although the first circuit breaker stopped trading for only 15 minutes, those who held soybean futures were panicked. When trading resumed, they closed their positions frantically again.

Soybean futures fell below 160 cents!

Soybean futures fell below 140 cents!

Soybean futures fell below 120 seven cents!

The second fuse is coming!

……

Ji Cheng, who was far away in Xiangjiang, was woken up by a phone call in the middle of the night.

"Hello?" Ji Cheng said speechlessly, "Who is calling so late?"

Bao Yugang's voice came from the other end, "Hehe, Mr. Ji, after listening to my next message, you won't blame me for calling you so late."

When Ji Cheng heard that it was Bao Yugang's voice, he immediately realized that something serious must have happened to the Chicago Board of Trade, "Did it trigger a circuit breaker?"

Bao Yugang laughed loudly and said, "Yes, the circuit breaker has been triggered."

Ji Cheng came to his senses all of a sudden, "Did the price drop by 5.00%?"

"It's more than that, it was blown not long after the opening of the market today, and after the resumption of trading, it didn't take long for the second blowout." Bao Yugang's voice was full of smiles, "Even...just now, the third blowout was triggered !"

What the hell!

The third fuse trigger?

Is it so fast?

Ji Cheng was really taken aback. He had known for a long time that the resumption of trading soybean futures would inevitably fall into an oversold stage, but he never expected that it would directly fall by 20.00% in one day!

"I remember that the price was 250 [-] cents per bushel before, right? So what's the price now? [-] cents per bushel?" Ji Cheng asked.

Bao Yugang's tone was full of excitement, and he said an astonishing figure, "The soybean futures price was [-] cents per bushel when trading was suspended!"

Ji Cheng gasped, "I remember that when we were shorting, the price seemed to be 120 [-] cents per bushel, right? Now it's [-] cents per bushel, isn't it that I've already made a profit?" ……made money……"

He's still counting.

Bao Yugang had already stated the figures, "Nearly 13 billion dollars has been earned!"

Earned nearly 13 billion in one trading day, or US dollars!

Ji Cheng was so happy that he almost fainted!

Of course, he knew that because the price of soybean futures was relatively high before, there was more room for the price to fall when the circuit breaker was triggered every day, so he was able to earn nearly 13 billion in one trading day today. less.

But one thing is guaranteed, Ji Cheng thinks he can earn at least 50 billion dollars this time!

After hanging up the phone, Ji Cheng lost all sleepiness, and began to calculate based on the information collected from modern society.

He remembered that according to the normal historical trajectory, the lowest price of soybeans this year should be 540 120 cents per bushel, while the price when he was short was 540 57 cents per bushel. If the historical trajectory remains unchanged, The price of soybeans has indeed dropped to [-] cents per bushel, and it is estimated that I can earn less than [-] billion US dollars!

What does this amount to?

It means that Ji Cheng has almost blown up his long positions, and half of the 100 billion US dollars invested by the Rockefeller family was earned by him alone!

Hey, looking for someone to kill me?

I didn't expect my buddy to be even more ruthless, earning more than 50 billion US dollars from the Rockefeller family directly from soybean futures!

Ji Cheng was so excited that he couldn't contain himself, but he calmed down immediately, because he predicted that he could earn more than 50 billion US dollars based on the historical trajectory.

But now that history has changed, the outcome is not certain.

For example, according to the historical trajectory, the highest soybean price this year was 820 cents per bushel. However, after Ji Cheng encouraged the three major consortiums to raise the price of soybeans against the Rockefeller family, the highest peak even reached more than 200 cents per bushel. .

Now that the highest price of soybeans has changed, who knows what will happen to the lowest price?

"Don't rush to get excited, let's talk about it in the next few days."

Ji Cheng held back the emotions in his heart, and even though he made nearly 13 billion US dollars a day, he didn't find the three major groups to make fun of him.

……

Not only Ji Cheng is concerned about the changes in soybean prices in the next few days!

Basically everyone who participated in this soybean futures squeeze is paying attention!

Why basically?Because the Rockefeller family did not make a margin call, they liquidated their positions yesterday, losing 100 billion yuan!

Now that they have lost all their money, the Rockefeller family will definitely not pay attention to changes in soybean prices. Lawrence Rockefeller is currently most concerned about how to repay the billions of dollars borrowed for forced positions. There is only one answer, and that is to sell assets or stocks .

Not to mention that the Rockefeller family is in financial crisis.

The second trading day of soybean futures.

Many people think that today's opening price will not plummet like yesterday, after all, it fell too much yesterday.

But what is unexpected is that today's fall is even more terrifying!

Just 5 minutes after the market opened, the price of soybeans fell from 950 cents to [-] cents, and entered the circuit breaker again!

Trading resumed 15 minutes later, and less than half an hour later, the price of soybeans fell below [-] cents, entering the circuit breaker for the second time!

Afterwards, trading was resumed again, and the price unexpectedly ushered in a small rebound. Just when everyone thought it was stable, the third plunge came suddenly again. In just one and a half hours, the price of soybeans fell below [-] Two cents, came to [-] cents, triggered the third circuit breaker, and stopped trading that day!

Limit-down trading for two consecutive days!

Soybean futures make people more and more panic!

On the third day, although there was no limit-down to stop trading, it still fell by 17.00%, and the price came to 660!

On the fourth day, it fell by 590%, and the price came to [-]!

This is also the last trading day of the week.

After Ji Cheng saw this price, he decisively contacted Bao Yugang and asked him to wait until the next transaction to close his position!

He didn't dare to wait any longer, for fear that the price would bottom out.

……

Although the position has not been closed yet, Ji Cheng has already started planning to buy at the bottom.

Today is Saturday, and the futures market does not trade.

Ji Cheng returned to the beautiful country yesterday. At this time, he was in the villa and was on the phone with Bao Yugang to give an order, "When the market opens on Monday, all positions will be closed regardless of the price."

"Okay, I know how to do it." Bao Yugang was so excited, "Mr. Ji, we have a brilliant record this time, can we reveal something to the outside world, so that Standard Chartered Bank can take the opportunity to increase its reputation?"

Ji Cheng said, "Don't worry."

Bao Yugang thought that he didn't want to disclose too much information to the outside world, and the client asked to keep it confidential, so he couldn't say anything more, so he regretted, "Okay, then I won't disclose it to the outside world."

However, Ji Cheng's next words shocked Bao Yugang a lot, "Well, we don't need to disclose it to the outside world at the moment, we'll talk about it after buying at the bottom and making money."

"Ah?" Bao Yugang was dumbfounded, "You still want to buy at the bottom?"

Ji Cheng leaned on the sofa, "Why don't you buy at the bottom?"

Bao Yugang didn't know whether to laugh or cry: "Soybean futures were in the oversold stage before. According to the conventional trend analysis, the next step is to bottom out and rebound, but this time the drop is too much, and the impact on soybean futures is too great. Who knows what will happen next?" How long will it take for it to really rebound? Don’t wait until the money is poured in and continue to fall, the loss will not be small.”

Ji Cheng disagreed with his opinion, "The current price of soybeans has dropped to 590 cents per bushel, how much room do you think there is to go down? In the ten years since the 80s, the lowest price of soybeans was 460 In [-], I remember that the price was [-] [-] cents per bushel. Although futures are not allowed to use leverage, we can be more stable, make the leverage ratio smaller, and pay a little more margin. As long as it hits the bottom and rebounds, more or less Can make some money."

"What if it doesn't hit the bottom and rebound?" Bao Yugang said very speechlessly: "For example, if you buy at the current price, and it drops by tens of cents in the end, when the last contract delivery day has not risen to the point where we bought it Price, you don’t have to lose a lot of money?” As he spoke, he persuaded him very seriously, “Mr. Ji, don’t blame me for talking too much, even if we close the position and deliver at the current price, you have earned 56 billion U.S. dollars this time, no need Bet, the price of soybeans fluctuates too much now, and it is really easy to lose money."

Over $50 billion is a lot.

But such a once-in-a-lifetime opportunity, even for a time traveler like Ji Cheng, is not something that can be encountered casually. How could he be satisfied with only earning more than 50 billion?Besides, he will go to war with the consortia of beautiful countries next, and billions of dollars are not worth it.

He has set a goal before, that is to make 100 billion US dollars, or at least 100 billion US dollars in soybean futures, and it would be best if he could make more.

Ji Cheng didn't explain too much to Bao Yugang, and said directly: "Help me buy the bottom from Monday."

Although Bao Yugang still wanted to persuade him, Ji Cheng had made up his mind, and he couldn't push the client away, so he had to say, "Okay, how much to buy?"

Ji Cheng thought for a while, "Ten times leverage of US$50 billion is still the same as before, and each unit must not exceed 200 million bushels."

Bao Yugang: "..." He remained silent for a long time, "Are you really going to be this crazy?"

Ji Cheng laughed and said, "I'm already very cautious, and only made ten times the leverage."

Nima!

Ten times leverage is still called very cautious?

Listen, is this called human talk?

Especially now that we don't know whether soybean futures prices will continue to fall, Bao Yugang felt that Ji Cheng was too bold, so he had no choice but to say: "Yes, yes, but can you get 50 billion US dollars on Monday?"

Ji Cheng slapped his head and said, "That's right, the delivery is on Monday, and the money can't be paid until Tuesday."

After the futures are sold, there are generally two situations.

The first one, if it is profitable, then the part of the margin paid for the transaction can be withdrawn on the same day, while the profitable part needs to wait for the next trading day to withdraw the funds.

If there is a loss in the transaction, then all funds can be withdrawn directly

After careful consideration, Ji Cheng felt that the price of soybeans may continue to fall on Monday. After all, according to the historical trajectory, the lowest price of soybeans this year will reach more than 540 cents per bushel, and now it is only 590 cents per bushel, that is, Saying that there is still room to fall, you are not afraid of missing the bottom and buying, "Then buy the bottom on Tuesday."

"Are you sure about US$50 billion?" Bao Yugang asked repeatedly.

Ji Cheng affirmed: "Yes, with ten times the leverage of 50 billion US dollars, I will fly over to sign the contract immediately."

"Okay." Bao Yugang responded.

hang up the phone.

Ji Cheng thought about it. The withdrawal would not be until Tuesday, but he had borrowed one billion dollars from Citibank before, and the money was still in HSBC. It would be a waste if it was not used, not to mention the interest.

Ever since, he called HSBC again.

All, all, connected soon.

John Pang's voice came from the other end, "Hello, I am John Pang, Senior Vice President of HSBC Bank."

"Mr. John Pang, hello, I'm Ji Cheng." Ji Cheng announced his family name.

John Pang immediately said politely: "Mr. Ji, what can I do for you?"

Ji Chengdao: "Our previous contract did not take effect due to irresistible reasons, but now that we have entered a stable period, I think we can continue to perform the contract and slightly change the content."

Pang Yuehan is like a businessman, unlike Bao Yugang who tried to persuade Ji Cheng, he said bluntly: "Okay, just tell me."

Ji Chengdao: "Well, this way, let's change from short to long. Today I will fly over to sign a contract with you."

"Okay, welcome, sir." Pang Yuehan readily agreed.

End the call.

Ji Cheng contacted Steve White again and asked him to accompany him to Xiangjiang to sign the contract. After all, the billion dollars was borrowed from Citibank in the name of Huajin Capital Corporation. To sign the contract.

All preparations are ready.

Ji Cheng was about to leave for Xiangjiang when he suddenly thought of something.

"Well, Citibank, Vanguard and State Street don't know that I've made money, can I continue to cheat them?" The more Ji Cheng thought about it, the more he felt that it could be done.

As long as it develops according to the historical trajectory, soybean prices are bound to continue to fall, and there is a lot of room for it.

As long as Ji Cheng encourages the three major groups to buy at the bottom on Monday, if the downward trend of soybean futures is still obvious at that time, maybe the three major groups will be bitten by a snake for ten years, fearing that they will take the initiative to cut their positions, and then they will be caught again Pen?

As for if it really deviates from the historical track and the soybean price does not continue to fall, Ji Cheng has nothing to lose. At most, he can let the three major groups follow him to recover some losses and gain a good reputation. Any futures you win will make a profit, and then the company's reputation will rise greatly, and it will be able to earn a lot of money from customers.

OK, let's do that.

Anyway, whether you cheat or not, you will not lose to yourself if you get the three major groups. If you get cheated, you will make a lot of money. It is tantamount to weakening the financial power of these consortiums while strengthening yourself, and it will be easier to deal with them in the future.

Ji Chengxin said that I am too bad a person, thinking of defrauding people all day long, I am really full of bad water.