Chapter 950 - He will ask for a truce
Chapter 950 – He will ask for a truce
“Boss, we had sold 3 billion USD worth of Korean Won, and they bought everything.”
“I know. Increase the volume tomorrow.” Soros instructed.
“Boss…”
“Just do as I say!”
The following few days, Feng Yu bought all the Korean Won dumped by Soros, to stabilize the Korean Won rate. Of course, the South Korea Government also contributed. They used their gold, borrowings, etc. to raise a sum of money and is prepared to enter the market anytime.
Park Yooshin was very grateful to Feng Yu and his allies. If Feng Yu and his allies had not to step in to stop Soros, Korean Won would not last so long, and now, South Korea might even defeat Soros!
If Feng Yu knows what Park Yooshin was thinking, he will surely laugh his ass off the chair. The South Korea Government is not suspicious of him buying so much Korean Won?
If Feng Yu were to dump all of his Korean Won, can the South Korea Government stabilize the rate with their funds?
Is Feng Yu going to dump all of his Korean Won? Of course!
Feng Yu has no use for Korean Won. Won is not common international currency, and even Yen and HKD are more commonly used for trades compared to Won.
Of course, Feng Yu will not exchange his Won for Yen, as the Yen rate is starting to get unstable, and might depreciate anytime.
Feng Yu needs USD because it is commonly used internationally, and his loans from the banks were in USD.
The following few days, Soros had dumped around 30 billion USD worth of Korean Won, and Feng Yu and his allies bought them effortlessly.
Soros is getting worried as he did not expect Feng Yu to have so many funds.
Soros had borrowed the Korean Won and need to pay interest. He is also dumping the Won at lower prices and is incurring losses. From what happened over the past few days, Soros could tell that Feng Yu is not acting alone. He had grouped up with those tycoons from Hong Kong!
……
“Feng, what you are doing is putting a lot of stress on our funds. We do not have much money left, and even if we included those people’s money, we could not last any longer. This is not worth it.” Kirilenko persuaded.
“Don’t worry and trust me. The money Soros can borrow is getting lesser, and he is still suffering losses. Although we had suffered some losses, the losses are minimal compared to him. He can’t afford to lose and will contact me soon.” Feng Yu confidently replied.
If Soros can agree not to attack Hong Kong or China’s financial systems, Feng Yu can still cooperate with him to make money from other countries. Feng Yu is not a noble person who will help other people unconditionally.
Before, Soros had spent some money to suppress Korean Won and to push up the Korean Won rate. Although Feng Yu knew before he entered the Korean market, Soros had already made some profits, but the profits are not a lot.
In the Hong Kong market, Soros had suffered some losses, and when he is attacking Korean Won, he should not have built his portfolio against Yen secretly.
Soros is too greedy and thought he would defeat South Korea within a short period. After Korea is defeated, he will switch to Yen. But Soros also wanted to set up those Hong Kong tycoons, and want them to suffer massive losses. This way, the tycoons cannot stop him when he attacks Hong Kong again.
In the end, Soros’s plan had only completed half of his plans. Those Hong Kong tycoons had their money trapped in the Korean market but managed to escape when Feng Yu and Fu Rongqi entered. They had also strengthened Feng Yu and Fu Rongqi’s funds.
Kirilenko blinked his eyes several times. “Why is he going to contact us? Ask for a truce?”
“That’s right. We are all businessmen. If we can cooperate, we will seldom choose to attack. Soros is Jewish and is a typical greedy Jewish. He will not want to be in a lose-lose situation with us.” Feng Yu might look confident, but in his heart, he is very worried.
This is also why Feng Yu had hidden a sum of money. When his side cannot hold back Soros, he will immediately short Korean Won and dump all his Won to crash the rate.
Also, Feng Yu is not facing Soros alone. The South Korea Government had raised a sum of money, and Feng Yu must make them spend it.
Even if Soros is continuing his attacks, Feng Yu and the South Korea Government can form two lines of defense.
“Alright. Feng, I hope you are right. Oh, I want to share a piece of good news with you. I was informed that Viagra is selling very well. Almost all the hospitals, pharmacies in East Europe are selling it, and I promise the sales from the East European market will be more than 100 million USD.”
The profit from 100 million USD sales is around 50 million USD, and there are still West Europe, America, Asia, etc. markets. Feng Yu estimates that sales in the other markets should be around the same or even higher than in East Europe. After all, the male population in East Europe is very low.
Also, the sex industry in some regions of East Europe is not developed, and the people there are more conservative.
“Hahaha… did you go there and try out the medicine?” Feng Yu joked.
“Do I need to eat that medicine? I had only given out some samples for them to try.” Kirilenko forgot he had tried and praised the medicine in front of Feng Yu before.
“That’s right. I believe you will never need it.” Feng Yu is holding back his laughter.
Kirilenko quickly escapes. “I got to go now. Guangwei is waiting for me to play Mahjong.”
Feng Yu gave Kirilenko a sideward glance. You are addicted to Mahjong now. The pronunciation of Mahjong is very accurate, and Guangwei had done a good job teaching you.
“Go on. I still have lots of work. Maybe, I can only get some rest during Lunar New Year.”
During Lunar New Year, the initial phase of the financial crisis will be over, and Feng Yu will not need to cooperate with Soros anymore. Anyone of them can return to Thailand, Philippines, etc. to harvest money as and when they like!
In Feng Yu’s previous life, Asian Financial Crisis will enter its second phase in August next year. The Southeast Asian countries will be looted by Soros one more time, and Hong Kong’s economy collapsed during that period.
HKD was not affected, but Hong Kong’s stock market crashed. Although Soros was not reported to have made profits from the crash, later on, he claimed to have shorted the Hang Seng Index and made a hefty sum.
In Feng Yu’s previous life, Soros’s wealth increases exponentially during that period. Within 18 months, Soros’s assets increased to over 20 billion from a few billion USD.
Of course, those are only rumors. Soros’s assets had always been a mystery.
In the past few months, Soros had been trying to find out how much is Feng Yu’s funds, and Feng Yu is doing the same.
Both parties did not find out the amount in each other’s funds and felt each other had more then what they expected.
Feng Yu’s phone rang suddenly. He looked at the number and smiled.
It is Soros’s call!