Chapter 242 Something big happened in the silver market!

In the morning, Li Changhe was alone at home, looking at the telegram in the mailbox.

On the telegram was yesterday's silver quotation.

It is already November 11th, and there is not much time left before the final frenzy in the silver market.

The current silver price has risen to US$34.

The gains in the past few days have been somewhat weak. Obviously, at this price, some shorts have turned into longs and started to transfer their positions, but more shorts have also entered the market.

After all, silver has reached such an extremely high price that there are people who are pessimistic about it.

Li Changhe looked at the price and fell into deep thought.

This price has actually approached his psychological bottom line. He originally expected to sell it at around US$35.

It’s $34 now, which is about the same.

Afterwards, Li Changhe came to the telegraph office and sent another telegram to Wei Er Si.

This time there was only one word on the telegram: Out!

This is what shipping means.

In the morning, after receiving Li Changhe's telegram, Wells was a little surprised.

Is this finally coming out?

But just as Wells was about to give the order, he didn't know that the situation in the United States was already in an uproar.

During this period, the rise in silver futures contracts and the scarcity of physical silver in the market made all short sellers and securities firms feel that something was wrong.

Someone is hoarding a large amount of contracts through major investment banks, and at the same time hoarding a large amount of silver.

This is a typical tactic of bulls killing bears!
But how can they be so confident that they actually try to control the entire silver market?
The madness in the silver market finally attracted the intervention of the Commodity Futures Trading Commission of the United States.

They checked all the transaction records and finally found that most of the buy orders came from a company called "International Metal Investment Company".

The company is registered in Bermuda.

The entire company held a huge amount of silver futures contracts, totaling more than 130,000 lots.

This holding volume exceeds 50% of all contracts on the New York and Chicago exchanges combined.

After a more thorough investigation, it was found that there are two main shareholders behind this "International Metal Investment Company".

One shareholder is the Hunt brothers, and the other shareholder is the Saudi royal family from the Middle East.

Once this news was discovered, it was immediately leaked.

In an instant, everyone in the entire silver trading market knew that the two richest families were behind the crazy surge in silver prices.

Everyone knows that after the United States returned Saudi Aramco's shares to the royal family, this family quickly became one of the world's richest families relying on oil.

Not to mention the Hunt family, which can be said to be one of the top and richest families in the United States. Most importantly, they all know that the Hunt brothers are geniuses in the futures market.

As early as seven or eight years ago, they manipulated the soybean futures market and made profits of more than hundreds of millions of US dollars, becoming a legend in the futures market.

Later, the other party even played a trick on the silver.

The most important thing is that they really have a large amount of spot silver in their hands.

They started hoarding silver spot since 72. It is said that all the million ounces of silver spot sold by the Mexican government were bought by them.

In other words, the other party is not only hoarding a large number of futures contracts, but also hoarding a large amount of spot silver.

When the news came out, speculators in the silver market went completely crazy.

Those long speculators holding futures contracts cheered, because everyone knew that if they followed the Hunt brothers, they would be able to make big profits.

The short sellers who had originally bet on a sharp drop in silver prices were now in despair.

Because according to the information currently available, spot silver must have been acquired by the Hunt brothers and the Saudi royal family.

Their attempt to offset the contract with spot silver is no longer possible.

The only way then is to buy new contracts at a high price to hedge the existing contracts.

And everyone knows that the crazy rise in silver prices has become a settled phenomenon.

Jingle Bell!
Inside the luxurious private room of the Mandarin Hotel, Pete's phone rang urgently.

Pete, who had just had a fierce battle with a beautiful woman last night, answered the phone in a daze.

Who called him so early in the morning?

"If you don't give me a good reason, I will kill you!"

After picking up the phone, Pete spoke angrily into the phone.

Unexpectedly, the voice coming from the other end of the phone was indeed James's.

"Boss, you're crazy. You're completely crazy this time."

"what?"

Hearing James' voice, Pete opened his eyes.

It is early morning now, which means it is night in the United States.

The futures market was closed at this point, so why did James call?
Unless it is something particularly important.

"James, don't get excited, tell me, what happened?"

Pete said loudly at this time.

"Hahahaha, boss, we're rich."

"I just got the news that this time the silver futures market is being manipulated by a super-large market maker."

"The super-rich Hunt family in the United States, together with the Saudi royal family, are manipulating the current silver futures market."

“Not only did they take up an unimaginable amount of silver contracts, but they also hoarded a huge amount of silver spot.”

"There is no silver spot for sale in the market now, and all short sellers must frantically buy contracts to hedge their risks."

"Boss, our contract is going to go crazy."

On the other end of the phone, James spoke loudly to Pete. After hearing this, Pete showed a look of shock on his face.

Although he felt that there might be a dealer behind the scenes pushing up the price when silver started to rise, he did not expect that it was the Hunt family and the Saudi royal family behind the scenes.

These are two of the world's richest men. Their combined strength is absolutely nuclear-level for the silver market.

No wonder James is so excited. The contracts they hold now are like pigs standing on the vent of the wind, and they are about to take off.

"Listen to me, James, now, put down the phone and get some good sleep."

"Then tomorrow, go find a real estate agent and ask him to recommend your favorite luxury house to you..."

"Believe me, the commission I give you this time will definitely allow you to buy your favorite house in any city in America."

Pete also said to James proudly at this moment.

The profits their team made this time were definitely in the tens of millions of U.S. dollars, which was enough for every member of the team to receive millions of U.S. dollars in profits.

One million US dollars, in today's America, that makes one a wealthy man.

"Yes, boss!"

James hung up the phone, and Pete also hung up the phone.

Just when I was planning to have some more sex with the beauty on the bed, the phone rang again.

"Hey, James, didn't I tell you to go find a real estate agent? Why are you calling me again?"

Pete thought it was James calling again, so he picked up the phone and started joking.

However, what he didn't expect was that the voice coming from the other end of the phone was not James's, but the boss behind the silver transaction.

"it's me!"

Welsh's calm voice came from the other end of the phone. Pete's face changed when he heard it.

"Good morning sir!"

"Now, listen to me. Give the team instructions. Starting tomorrow, all contracts will be sold out!"

On the other end of the phone, Wells' words hit Pete on the forehead like a bolt from the blue.

"No sir, you can't sell it so quickly."

Pete said subconsciously.

"Huh? What's going on?"

"Honey, you're too noisy!"

At this time, the beautiful woman on the bed was also awakened by the phone ringing, and she rubbed her eyes and got up.

"Is there anyone else in your room?"

On the other end of the phone, Wells asked coldly.

Peter panicked, then quickly said, "Sir, it's my girlfriend. I'll send him out right away."

"Wait a minute, I'll call you back!"

After that, Pete hung up the phone and found his wallet from the clothes scattered on the ground.

He pulled out a stack of Hong Kong dollars and threw it at the woman.

"Now, take the money and get out of my room right now!"

Pete said coldly.

The woman who had just woken up seemed a little confused: "Honey, what are you doing?"

"roll!"

Pete said loudly to the woman at this moment.

When the woman saw that Pete was about to kill someone, she immediately collected the money obediently, put on her clothes and left in a hurry.

After Pete closed the door, he made another call.

"Sir, I don't disagree with you selling the contract, but now is not the time."

"I just got the news that there are two super-rich people behind the scenes manipulating the silver futures market in the United States."

"The Hunt family and the Saudi royal family are both super-rich families with assets starting at one billion US dollars. If they join forces, the entire silver market will see a crazy increase."

"Sir, for every dollar increase in silver, our profit is more than 20 million dollars."

"We can't take action at this time!"

Pete said to Wells anxiously at this time.

On the other end of the phone, Wells was also surprised.

"Where did you get this information?"

Wei Er Si asked in a somewhat hurried tone.

"It was released by the U.S. Commodity Futures Trading Commission. They found the mastermind behind it."

"Now all speculators are waiting for the market to open tomorrow. When the market opens tomorrow, a large number of speculators will inevitably pour into the market."

Pete said quickly.

Wei Er Si thought for a moment and then said, "Don't go anywhere today. Just wait for my call in the room."

After that, he hung up the phone.

Then, Wells dialed another phone number: "Please connect me to Mr. Bao's office. This is Wells."

After a moment, the call was connected and Bao Yuguang's deep voice was heard from the other end.

"Wells, what's going on?"

"Mr. Bao, I want to go to your office and report to you in person."

"Something big has happened in the silver market!"

(End of this chapter)