Chapter 737: Profits exceeding 10 billion US dollars

"Chairman, Group 5 reports that all 10,000 lots of London gold futures held have been delivered, with an average price of 835.5 US dollars per ounce and 835.5 million US dollars in the account.'

'Chairman, Group 8 reports that all 8,000 lots of London gold futures held have been delivered, with an average price of 836.2 US dollars per ounce and the account currently having 668.96 million US dollars in funds.'

'Chairman, Group 16 reports...'

In the conference room of the Galaxy Fund, several dedicated phones kept ringing, and the employees answering the phone kept recording the data on paper and then reporting to Xia Yu, who was sitting at the head of the table.

Although Jiuding Bank, Jiuding Securities, Jiuding Insurance and Guangming Fund were all involved in the London gold speculation, the combined assets of the four companies were not as much as Galaxy Fund.

You have to know that when Xia Yu left the UK last year, Galaxy Fund was buying London gold futures at an average price of 520 US dollars per ounce, leveraging 2 billion US dollars to hold 14 billion US dollars worth of London gold futures.

As the international gold price broke through the 800 US dollars per ounce mark, the value of this large amount of London gold futures has already jumped to 20 billion US dollars.

It would be extremely difficult to get out of a futures contract of such a huge amount, so Xia Yu was not at all at ease and therefore personally sat in on the operation.

Moreover, the Galaxy Fund had begun preparations for an exit months ago. The nearly 270,000 lots of gold futures had been divided into thousands of accounts, with 50 operation teams each responsible for dozens of accounts.

In his spare time, Liu Magpie arranged for them to conduct drills, having already considered every possible situation, and there was a response to every possible problem.

Therefore, after Xia Yu gave the order, the Galaxy Fund was able to deliver and flee in an orderly manner.

Seeing the Galaxy Fund team running well, Xia Yu let out a sigh of relief.

As he watched the statistics show more and more funds, the curve of Xia Yu's mouth grew wider and wider.

In addition to the London gold futures, the US dollar/pound sterling foreign exchange speculated by the Guangming Fund was also being liquidated. As a liaison, Elena told Xia Yu the situation of the company over the phone.

At 11 pm on January 21st, most people in Hong Kong had already gone to bed, and there were only a few people on the streets.

However, the four companies – Jiuding Bank, Jiuding Securities, Jiuding Insurance and Galaxy Fund – were brightly lit.

In winter, the Eastern Time Zone in the United States is thirteen hours behind Hong Kong.

It was 9 am on January 21st in the United States.

The gold futures price on the New York Mercantile Exchange continues to rise, reaching 850 US dollars per ounce.

Many companies holding gold futures are overjoyed.

However, some big players on the top floors of Wall Street are already on their way out.

Although they hope that the gold futures price will continue to rise,

they are not stupid and know that if it continues to rise, the United States will suffer a heavy blow, and the status of the US dollar, the US position in the oil sector, the prestige of the US, and so on, will all be hit hard.

If the US economy suffers, in the long run, the whole country will suffer, and so will they.

It is 10am in the morning in the US.

The President, Jimmy Carter, has now solemnly appeared on television to announce to the whole country and the world that the US government will do whatever it takes to maintain the status of the US in the world, and that the development of the world economy requires a sound financial environment.

After Jimmy Carter finished speaking, the number of international communications around the world skyrocketed dozens of times.

Within just a few minutes, the news reached the ears of financial professionals around the world.

This immediately caused panic in the market, and they understood that the US government was serious and was not just bluffing, as US Treasury Secretary Miller had previously claimed.

The price of gold futures plummeted on the New York Mercantile Exchange, the London Bullion Market Association, in Zurich, Singapore, and everywhere else.

By the end of the day, the gold futures price on the New York Mercantile Exchange had fallen below the $800 mark per ounce again, plummeting more than 50 points like a rollercoaster ride.

Many people and institutions who had not managed to escape in time, or who ended up taking over the position, beat their chests in grief and despair. Some gamblers couldn't take it and climbed straight onto the roof and flew off to the paradise they longed for.

But those who had made money didn't care anymore, and had long since sneaked home to calculate their gains.

Among these people was Xia Yu.

Before US President Jimmy Carter came forward to announce it, all the gold futures held by Xia Yu's company had been delivered.

After the profits of multiple companies were combined, and looking at the strings of numbers on the list, Xia Yu, who was alone in the office, couldn't help but laugh out loud, his heart filled with joy.

Bright Fund Company in London, for example, made a net profit of 410 million US dollars from gold futures speculation, but that was because they had entered the market relatively late.

In Jiuding Bank, Liu Tianci had followed suit with a large investment in gold futures speculation, and had continuously covered his positions as soon as he had the funds, so after closing out his positions, he had made a net profit of 790 million US dollars after deducting costs.

Jiuding Insurance Company, on the other hand, had limited funds, so despite Jason Gregg's fierce actions, the net profit was only 290 million US dollars.

Jiuding Securities Company, Wang Qi spread the investment of funds, and the main funds went into the stock market. Fortunately, they used ultra-high leverage, so they made a profit of 5.8 billion US dollars.

The most was the Galaxy Fund.

At the time, when it was at 520 points, the Galaxy Fund held 14 billion US dollars in London gold futures contracts, using ultra-high leverage, with a cumulative margin of only 2 billion US dollars.

After the clearing, all the accounts of the Galaxy Fund added up to 22.75 billion US dollars.

After deducting the capital quota of 13.8 billion US dollars, the margin of 200 million US dollars, and the capital usage fees, etc., the cumulative net profit of the Galaxy Fund was 8.57 billion US dollars.

The total profit of these five companies was as high as 10.64 billion US dollars.

In addition, Bao Yugang and Huo Yingdong also contributed 400 million US dollars at the time, which was handed over to Xia Yu to manage, with a 50-50 profit sharing arrangement.

This 400 million US dollars earned a profit of 1.8 billion US dollars, with Xia Yu getting half of it, which gave a net profit of 900 million US dollars.

The Guangming Fund speculated in the foreign exchange market between the US dollar and the British pound, and made a profit of 68 million British pounds, which is equivalent to more than 120 million US dollars.

In terms of the US dollar and the Japanese yen, both Jiuding Securities Company and Jiuding Yonghe Fund were speculating.

Jiuding Securities Company alone made 4 billion US dollars.

As for Jiuding Yonghe Fund, Xia Yu deliberately kept it under control. The net profit from speculating in the foreign exchange market between the US dollar and the Japanese yen was 620 million US dollars. According to Wang Qi's report, after learning about the profit, Kazuya Fukuhara was full of admiration for Xia Yu.

Although the Jiuding Yonghe Fund is a joint venture company and the profits are split 50-50, and Fukuhara Kazuya also benefited by 310 million US dollars, Xia Yu didn't care. After all, he was fleecing the island country.

The funds used were also from Sanwa Bank, and it was just a ride along with Fukuhara Kazuya, but it was able to shock Fukuhara Kazuya. If the future calculations are successful, the bait of 310 million US dollars is definitely cost-effective.

Xia Yu did not withdraw the money earned by Jiuding Yonghe Fund, and ordered Wang Qi to continue expanding the company and the influence of Jiuding Yonghe Fund in the island country.

Xia Yu carefully calculated that, excluding the money from Jiuding Yonghe Fund, this time, after more than a year of laying the groundwork, he had increased the liquid capital in his hands by 15.66 billion US dollars.

Of the 9.54 billion US dollars earned last time, some of it was spent, and the rest was scattered in the confidential and dedicated accounts of Jiuding Securities, Jiuding Bank, Galaxy Fund and other companies.

Over the past year, the major companies have made a lot of money again and again.

Xia Yu roughly calculated in his heart that at this time, his freely disposable liquid capital exceeded 20 billion US dollars.

Looking at such a large number, even with Xia Yu's mentality, he couldn't help but feel a little dazed, like he was dreaming.

Perhaps the overall strength of his Jiuding consortium is not yet strong, nor is its influence on various industries around the world, but in terms of liquidity alone, the Morgan and Rockefeller consortia may be able to mobilise more than 20 billion US dollars.

But the six major island consortia definitely cannot come up with that amount in a short period of time!

With so much money, Xia Yu is not lacking in confidence.

From now on, the sky is the limit!

He will enter his own mode of frenzy!