Vol 7 Chapter 29: Interlocking

Binzhong's face was terribly gloomy.
　　 Crime of market manipulation?
　　 Buy and sell at their own expense, every transaction is legal, and manipulates the market.
　　 If the market is not manipulated, where does the rise and fall come from?
　　 demand?
　　 Stop talking about the calf.
　　 Facing two who broke in suddenly, Binzhong Tainan knew that it was the shorts in the market who had united with the British government and were eyeing Sumitomo's position.
　　 first modify the rules, and then use the law to fight oneself.
　　Fair?
　　 There is no fairness in this world.
　　 Yes, the securities law does have the crime of market manipulation.
　　 Every country has it.
　　 There is in Japan, in Hong Kong, in the UK, and in the United States.
　　 Europe and the United States have extremely strict financial supervision?
　　 This is the theory.
　　 But in fact, compared to Sumitomo’s 5% position in copper futures, I don’t know how many companies have positions far beyond this number on other targets.
　　 The price of sugar dropped from US$2.20 to 0.218 that year. No one checked and manipulated it.
　　The foreign exchange of various countries collapsed, and no one checked and manipulated.
　　 Now, I just make a little money, and these put a hat on themselves.
　　 is simply bullying.
　　 stared at the two people at the door for a long time, Binzhong Tainan knew that this time the trouble was big.
　　 These guys shamelessly revised the regulations, and now they are investigating directly, using the law to attack themselves...
　　 The people from the securities investigation team did not seem to notice the anger in Haminaka’s eyes, and said in a pleased gesture: "Mr. Haminaka, please come with us."
　　 Under the urging of the securities investigation team, Binzhong Tainan could only leave.
　　 This is the territory of the British, even if it is as powerful as Sumitomo, there is nothing that can be done in this place.
　　 The only thing he can do is to find a way to explain and cover up his market manipulation behavior.
in spite of.
　　 The so-called manipulation is nothing but a crime.
　　 on the spot.
　　 The investigating team took away various materials from the Sumitomo Non-Ferrous Metals Department. A sense of crisis made everyone present feel a little panic.
　　Investment Authority (SIB) is the UK's financial market supervision agency.
　　As an independent non-governmental organization, it is the unified supervisory authority of the UK financial market. It exercises statutory duties and is directly responsible to the Ministry of Finance.
　　The office of the investigation and supervision team.
　　 Robertson Tony said solemnly: "Mr. Haminaka Yasuo, we have recently received accusations from many market investors against you and the Sumitomo Group.
In August 1993, you used Sumitomo Holdings' Morensi Copper Mine to issue a false cessation announcement. On the 21st of this month, the cessation announcement of Peru’s Qingling Copper Mine No. 2 Mining also came from your hands, and Sumitomo Group and Mitsui Group Put pressure on Freeport's Grasberg copper mine to issue false announcements..."
　　 "But according to our investigation, these companies are only carrying out inspections and have not stopped production."
　　 "Sumitomo Non-Ferrous Metals Department held 160,000 selling contracts in Lun Copper in March, but according to our investigation..."
　　Every accusation is a very severe accusation in British and American law.
　　Different from the Asian market, in the financial market, mature European and American markets have almost harsh punishment systems for financial-related regulations.
　　Once the crime is convicted, even if he is in the position of Tainan Binzhong, he will face unbearable consequences.
　　 The most terrifying thing is that every accusation involves the individual Binzhong Tainan and even Sumitomo Group.
　　 A company made a false announcement, which in the European and American markets is enough to be fined to bankruptcy.
　　 Even a chaebol like the Sumitomo Group for centuries can't stand up to that kind of horrible fines. The move is a fine of hundreds of millions of dollars. If it is not enough, the infinite sentence will be used to offset the fine.
　　 Binzhong Thai male was silent.
　　 If you want to add a crime, you can find any reason.
　　 These who are talking about market fairness are shameless, saying nothing is meaningless.
"Mr. Haminaka, according to David Kim Conan, president of the London Metal Exchange, they had noticed your behavior as early as the end of 1991 and warned him several times. I don't know if this is true. "
　　 Hama Naka Tai squinted his eyes.
　　 he replied.
　　 "Yes, but this is not illegal. Every transaction of Sumitomo is carried out in accordance with the rules of the exchange."
　　 "But according to our survey, the size of long positions held by Sumitomo far exceeds the size of short positions. Do you want to force short positions with a large number of long positions?"
　　 "Which stipulation is that a company can't hedge a position while conducting speculative transactions?"
　　 "Month, you asked the president of dlt brokerage company Shrier Kaide to provide you with a false transaction certificate illegally, whether this happened.
　　 "......"
　　 Binzhong Thai man was speechless.
　　Because, before this, in order to avoid the exchange position disclosure regulations, he did ask Schreierkaide to help him get a false false certificate.
　　 And since the investigation team knew about this, it meant that the said everything.
　　 September 6th.
　　 The Wall Street Journal
　　 The Sumitomo Non-Ferrous Metals Trading Department was investigated by the British Financial Services Investigation Team. Its chief dealer, Binzhong Tainan, once asked the DLT futures brokerage company to issue an illegal transaction certificate for it.
　　Sumitomo Non-Ferrous Metals Trading Department holds a large long position in the London copper market.
　　The London Financial Services Center believes that Binzhong Tainan has violated the relevant legal provisions by using false transaction certificates and other means in the three-year transaction.....
　　......
　　 Sumitomo Non-Ferrous Metals Department, the news of the Financial Services Investigation Team was quickly spread.
　　 As the Sumitomo Group faces multiple accusations, there are rumors that Taeman Binzhong will be forced to resign.
　　 Insiders in the industry worry that once such a prominent figure who has played a huge supporting role in copper prices withdraws, where will the international copper price go?
　　 was affected by the news.
　　 On the same day the London Financial Exchange opened, LME Copper gapped again and opened 6% lower in March, which is close to the previous consolidation range of 2,700 points.
　　The First International Capital Trading Room.
　　The melody of the war song echoes in the huge space, and the three-dimensional surround sound channel arouses people's emotions like drumming, which is crazy and exciting.
　　 "Hallelujah"
　　 "Building Our Country"
　　 "Hallelujah"
　　 "Athletes are running at the pace"
　　 "Hallelujah..."
　　 William waved his hands as if holding a baton, indulged in indescribable excitement and pleasure.
　　......
　　 As a pen is sold and transmitted to the central server through the computer lightning, the feedback data makes Lun Copper like it was shot by countless bullets in March, and the price plummets wildly.
　　 This is the moment of life and death.
　　 With Sumitomo holding a long position of more than 10 billion US dollars, such a large scale, there is no stop loss.
　　 Or, kill the international shorts.
　　 Or, get killed by international shorts.
　　Stop loss?
Do not.
　　 That is suicide.
　　 If Sumitomo insists, there is still a silver lining, but stop losses and lighten up positions will only result in one outcome. The closing of hundreds of thousands of long contracts is equivalent to selling, which will put the price of Lun copper into hell.
　　 What’s worse is that with such a large position, First International Capital, Quantum Fund, Tiger Fund and other are shorting, and they simply cannot be balanced.
　　 Binzhong Tainan looks cold, but he feels colder.
　　 An ultra-huge Yin line traverses the trend, like a sharp sword falling from the sky, and completely wiped out the counterattack he had finally organized.
　　 And the scale of Sumitomo's position is so large that it can't even cut the position to stop the loss and reduce the loss.
　　 These despicable bastards.
　　 He hated the British and what other international capitals he had in his heart, but he couldn't hide the despair in his heart.
　　 Like a trapped beast, Binzhong Tainan knew that the only thing he could do now was to fight to the death, but there was no hope.
　　 cut the warehouse to escape, there is nowhere to escape.
　　 Defending in place will only be gradually swallowed.
　　 Binzhong Thai male weakly clenched his fists, watching the 66 flashing on the screen, and finally understood why many Europeans would call Capital One a demon.
　　His face is blue and ferocious, and he regrets that he should not have pitted First International Capital, but at the same time he is full of deep hatred.
　　 If you don't leave a way for yourself, this is simply driving yourself to death.
　　 "You must hold on to me, hold on at all costs..."
　　 The March price of Lun Copper on the disk was sold 66 in a row and some small transactions, quickly reaching 2638 points, but with the order of Binzhong Tainan, the price was quickly pulled up to 2699 points.
　　 Close a position and open a position.
　　 Sell, buy.
　　 But countless small sell orders swarmed in, leaving the bulls under a lot of selling pressure.
　　 suddenly.
A large number of red numbers appeared on the 　　 market.
　　 The dense red color is like a vast ocean of blood.
　　 The irritation made the eyes of the Thai man in Binzhong a blood red.
　　 are all short selling contracts.
　　 Under the pressure of a short shot of thousands of hands, Lun Tong's 2600-point integer defense was penetrated again.
　　 Then, there are 66 short-selling contracts densely behind.
The price of 　　lun copper began to dive like a waterfall.
　　 The strongest defensive line of the bulls was penetrated.
　　 "Hold up, hold on to me..."
　　 Hamazhongtai male roared with red eyes.
　　 is of no use. The transaction that the long has just reported will be immediately eaten by the uncountable empty orders.
　　 is trapped in a vast army of bears, and the bulls have been unable to organize an effective counterattack.
　　Wall Street.
　　 It was night at this time.
　　 Shen Jiannan looked at the computer screen in the distance, his eyes flat.
　　 In the last two days, the trading volume of LME Copper has soared tenfold. Sumitomo is not the Bank of England, and the funds held by him should have reached the limit.
　　He sympathizes with Haminaka.
　　 This guy, maybe he hasn't seen the general trend clearly yet.
　　 Japanese manufacturing has already made Americans, Europeans, and other people in their throats. When the Soviet Union fell, they had already determined the decline of Japanese national luck.
　　 At this time, Tonya delivered the grapes to Shen Jiannan's mouth. This little girl with the title of princess was like a well-behaved maid.
no way.
　　 Shen Jiannan always punishes her.
　　 In front of her, and Xinchuan Masako um ah ah, she is not allowed to close her eyes, it is simply a demon punishment.
　　 The pink grapes are plump and crystal clear.
　　, holding the grapes in his mouth, bit down, and the juice splashed and turned into sweetness.
　　 While eating grapes, Shen Jiannan made a calculation and entered a few numbers on the interface of Lun Tong March.
　　 2666, sell 6666
　　噔!
　　 The mouse clicked.
　　In an instant, Lun Tong San Yue, who originally wanted to rebound, was bombed to 2666 points.
　　 It was like a hungry wolf rushing into the flock. There was a market that had eased, and it immediately occupied the screen after selling large sums of money.
　　 September 7th.
　　 Under the investigation by the regulatory authorities and the joint suppression of international capital, Lun Copper was hit to 2,200 in March.
　　 Due to Binzhong Tainan’s crazy increase in London Copper in March, a drop of several hundred points caused some of Sumitomo’s positions on London Copper to liquidate.
　　 Ten thousand feet tall buildings rise on the ground.
　　 When the largest foundation supporting the Lun Copper bulls exploded, the price of Lun Copper instantly collapsed.
　　 Sumitomo's close to four billion US dollars position was liquidated by the exchange.
　　 Such terrifying funds were converted into selling immediately after the liquidation.
　　 That week, Lun Copper recorded the largest drop in history.
　　 In just five trading days, Lun Copper fell 25% in March.
　　The way of heaven is more than loss but not enough.
　　 Humanity is not the case, the damage is not enough, the service is more. Who can have more to serve the world?
　　 The financial market, something created by mankind, is still inseparable from the essence of humanity.
　　 As the large-scale position of Sumitomo Nonferrous Metals continued to be liquidated by the exchange, Sumitomo Nonferrous Metals losses expanded to US$6.2 billion.
So.
　　 A big win on the short side.
　　 On the same day, Sumitomo Corporation President Qiu Shuifu announced that Sumitomo’s chief dealer, Hama Nakata, had unauthorized participation in the copper futures transaction, causing a huge loss of 4 billion U.S. dollars for Sumitomo.
　　 Then, news came from Japan that Haminaka Tainan was sentenced to 7 years in prison for trying to conceal losses of more than 2.6 billion US dollars.
　　 As soon as this news was announced, it immediately caused a stir in the world.
　　 Countless people are wondering who Sumitomo’s opponent is.
　　 Futures trading is a zero-sum transaction. Someone who loses must be profitable.
　　 Sumitomo has lost such a large amount of money, so whose hands did Sumitomo’s huge loss of money go to?
　　 For a time, there was a lot of discussion in the global financial community.
　　 This is not ordinary business curiosity, but the destination of these funds to some extent determines who will play a greater role in the futures copper market.
　　 Soon, all the big traders on Luntong were exposed.
　　There are some international funds that are shorting in the international copper futures, including large American financial players.
One year ago, the world-famous First International Capital, which "beaten" the British government in the British pound crisis, made a profit of 600 million U.S. dollars, South Africa Bank made a profit of 300 million U.S. dollars, and the British Jiuding Bank made a profit of 300 million U.S. dollars. The investment management fund gained 100 million U.S. dollars, the well-known American hedge fund Quantum Fund gained 300 million U.S. dollars, the Tiger Fund gained 100 million U.S. dollars, and the Canadian billionaire Black gained 60 million U.S. dollars...
　　 No one knows who spread the news.
　　 But the financial market holds huge wealth, and under the huge wealth, it is difficult to really hide secrets.
　　Some traders believe that these funds have more or less controlled the overall situation. However, how much they profited from this storm and their impact on copper prices is still little known ~ EbookFREE.me ~ news is getting worse.
　　 Conspiracy theories, sniper theories, and global capital's joint attack on Sumitomo are widely circulated at the top of society around the world.
　　 the same day.
　　 Regarding this remark, Robert John, the spokesperson of Shen Jiannan, CEO of First International Capital, publicly held a press conference on the matter.
　　 Robert John strongly condemned the irresponsible remarks made by some media and explained that First International Capital has not attacked the copper futures. The CEO of the company, Mr. Shen Jiannan, is now keen on his charity in Ukraine.
　　 Quantum Fund spokesperson also said that Quantum Fund did not participate in the trading of copper futures, the company's positions are mainly placed in the securities market, and are optimistic about the improvement and recovery of the US economy.
　　......
Japan.
　　 First Quanye Bank.
　　 Noda Kiri had a headache while holding his head.
　　 Sumitomo and First Quanye Bank have always had a close cooperative relationship, and the line of credit granted to Sumitomo Nonferrous Metals Group is US$10 billion.
　　 This time, Sumitomo lost more than six billion U.S. dollars in the London copper market, and this loss is still expanding. Sumitomo Nonferrous Metals Group was unable to repay the loan that was about to expire in the short term.
　　 To make matters worse, among the foreign investment business of the First Quanye Bank, US$1.2 billion was also invested in the Lun Copper Copper Market, and now it has also lost a lot of money.