Chapter 898 - Starting to lose money
Chapter 898 – Starting to lose money
Feng Yu had explained to Kirilenko on how their investment work, but Kirilenko still does not understand. He only remembered Feng Yu’s last sentence. From tomorrow onwards, we will lose money!
The next morning, Kirilenko arrived at the office and saw many people packing up to go home.
Kirilenko panicked. What’s going on? The salary I offered is not high enough? Why is everyone leaving?
Kirilenko stopped one of the brokers. “Where are you all going? Why are you all leaving? I am asking you! Answer me!”
Kirilenko saw the broker don’t understand Russian, and he shouted at his translator. “Translate for him!”
The translator looked at Kirilenko helplessly. “Boss, we are in New York, and there is a time difference with Thailand. It is night time in Thailand now, and the stock market there is closed. They had finished their work and are reporting off. You cannot expect them to remain in the office for 24 hours, and it is pointless.”
Kirilenko’s face turned red and roared to the translator. “You think I don’t know about this? I am only asking why didn’t he switch off the PC when he is leaving? You think electricity is free?”
The translator translated what Kirilenko said to that broker unwillingly. The reply from that broker was the PCs cannot be switch off. They are collecting data and need to maintain an open connection with Thailand.
Kirilenko waved his hand. “Why doesn’t he leave when it’s time to report off? He still wants to enjoy the air conditioner in the office?!”
Feng Yu is not around and had gone home? Damn! Does that mean everyone will be working at night and resting in the day?
No wonder Feng Yu said this office is only temporary, and he will select a few elites to bring to Hong Kong with him.
When everyone in the office was almost gone, Kirilenko stopped the last person. “How much did we lose yesterday?”
“Only 12 million USD.” The broker replied.
Kirilenko tightens his grip on the 1.7m broker’s hand and almost broke it. He only released his grip when he heard the broker shouting in pain.
What this broker said was too much! Only 12 million USD? It’s 12 million USD! Do you think you can make so much money in your lifetime?!
It’s only the first day, and they lost 12 million USD? If this carries on for ten days, how much will they lose? What about one month? Feng Yu had said this might last more than a year!
“Oh, Brother Ki? Why are you here so early?” Feng Yu walked out of his office. He was preparing to go home to rest. But actually, he had rested for a few hours in his office. How can his office don’t have space for him to rest?
“Nothing. I woke up early and came here to take a look.” Kirilenko replied.
“Really? That’s great. Let’s have breakfast together, and I also have something to discuss with you.”
……
“You want me to help you sell medicine?” Kirilenko was speechless. He thought Feng Yu wanted to tell him when the losses will stop and start profiting.
“This is a miraculous medicine which will increase your ‘power’ in that area. We have already gotten the patent in Europe, the US, Japan, and China. Basically, this medicine is patent protected all over the world.”
Europe’s patent will follow a standard requirement, and the US has its own set of requirements for patents. Japan is the standard for the whole of Asia. There are some countries whose patent’s rights are not related to the rest of the world. For example, China, North Korea, and some countries in Africa.
But this does not mean everything will be fine after registering the patent in the US and don’t need to register in the other countries in the American continent. However, after successfully registering in the US, there will be no problems getting the patent registered in the rest of the countries in that region.
“This is the medicine developed by your pharmaceutical company? Is it that effective?” Kirilenko’s eyes were sparkling. Although Kirilenko looks fit, he indulged in heavy drinking, and sometimes, he will have problems in that area.
Feng Yu held his laughter and replied seriously. “The ones who tried it say it is very effective!”
“If it is that effective, I can help you sell it to the hospitals in a lot of countries.”
Feng Yu was relieved when Kirilenko left. With this medicine, he should be too busy to come to the office.
Even when Kirilenko did not say anything, he will give the brokers tremendous pressure just by standing there looking at them. This will affect the brokers’ concentration and judgment. The invested amount is too huge, and if the brokers made any mistakes, the losses would be significant.
They had only incurred losses of around 12 million USD, and Kirilenko’s expression had changed. If Kirilenko knew the losses would be higher tomorrow, how will he react?
Incurring losses in the initial stage is Feng Yu’s strategy. Selling Baht non-stop will incur significant losses. But after the Baht depreciated, they will recover their losses from their Forex Futures Contracts and might even profit from it.
The more Thai Baht depreciates, the more they will make, as the Futures Contracts are all utilizing leverage.
When Thailand’s financial market crashes, it will receive high returns.
Of course, not any financial institute can handle the initial stage losses. If the value of Thai Baht did not fall, they would incur losses from the Futures Contract and from dumping Thai Baht.
……
Druckenmiller was at Soros’s office again to report on their progress. They suffered significant losses, and Thai Baht prices had dropped slightly. Thailand’s financial market starts to show signs of collapse.
“Continue to dump our Thai Baht, bonds, and shares,” Soros ordered.
“Yes. Oh, Feng’s company and our allies are all doing the same. I believe we will gain control of Thailand’s financial system very soon. The result of decades of development will soon be in our hands.” Druckenmiller laughed.
“Don’t be complacent and act according to plan. You must take note of any changes and must react immediately if the changes are not in favor of us. Also, watch that Feng Yu and that Russian guy closely. Their combined funds is not a small amount!”
Soros felt Feng Yu would play a critical role in his plans. If Feng Yu switch sides suddenly, he will have to face the Thai Government and Feng Yu heads-on. They will no longer have the advantage and will suffer significant losses!
“I know. Ken is monitoring their funds.”
Ken is also one of Soros’s four fund managers and is tasked to monitor Feng Yu. The other two aides are also tasked with monitoring the rest of Soros’s allies.
Currently, Thai Baht still has not depreciated significantly, and the fluctuations are still within the acceptable range. But Soros was not worried, because this is only the start. When he and his allies start dumping Thai Baht in large amounts, Thailand’s financial market will inevitably collapse!