The rise of nanometers
Chapter 355 Tragic
Although the energy summit held at the Chang'an Energy Exchange started at ten o'clock in the morning in China, its impact on the global crude oil market was very rapid.
The four major crude oil futures contracts in the world are "West Texas Intermediate Oil", "High Sulfur Crude Oil", "Brent Crude Oil" and "Dubai Sour Crude Oil".
These four crude oil futures contracts are affiliated to the New York Exchange, London Exchange, and Lion City Exchange respectively.
Since the crude oil futures trading of these three exchanges has a daily trading time of 22 hours, with only one hour of rest time in between, and the rest periods of the three exchanges are staggered, it is basically equivalent to the global 24-hour time limit. Futures trading is available.
Goldman Sachs’ heavily held crude oil futures include four major varieties, as well as gasoline and diesel futures on the Tokyo Stock Exchange.
Although it was night in New York at this time, the management of Goldman Sachs was not sleepy at all. President Lloyd felt that he was going to be doomed.
Looking at the prices of the four major crude oil futures contracts on the scrolling electronic screen, which were all bright red, he asked in a daze: "How much did you lose?"
Rogers, the vice president on the side, stuttered back: "All our long orders have been liquidated. At present... we have lost 65.2 billion."
"Mr. President, the price of our stock has dropped below 100 yuan in over-the-counter trading..."
Faced with such a terrible loss, Lloyd almost fainted. Last month, Goldman Sachs' total market value exceeded 100 billion, and it holds trillions of assets in its hands.
And one of his misjudgments caused fatal losses.
According to the current market value, Goldman Sachs's market value has evaporated by more than 80%, leaving only a market value of 18.5 billion yuan, and it has become insolvent.
Of course, centipede insects are dead but not stiff.
The assets held by Goldman Sachs are very huge. For example, some of the shares of ICBC, China Mobile, and SMIC are held by Goldman Sachs. They invest and participate in countless companies around the world. If they sell some of their assets, they can still keep Goldman Sachs from going bankrupt. .
It's just going to be very painful. After all, hundreds of billions of dollars are lost in just ten minutes. No one can sustain such bloodletting.
To raise so much money in a short period of time, the only option is to sell assets at a low price.
If it were just international hot money and hedge funds, Goldman Sachs might default on its debt, but a large number of giants on Wall Street are also involved in short selling.
In the first wave of short-selling attacks, the main force was Huang International and a dozen domestic investment funds. In the first five minutes, they harvested international crude oil and natural gas futures, and immediately withdrew after shorting.
The next second wave of short-selling attacks actually came from Soros's Quantum Fund, large and small Morgans, Merrill Lynch, and a number of Wall Street capitals.
They offset their losses by going short, and even make a huge profit on the backhand.
If Goldman Sachs wants to default on its debt, it must first ask other capital giants on Wall Street. Obviously, these vampires who eat people without spitting out their bones will not spit out what they have eaten.
At present, international crude oil futures are still plummeting, and the power of short sellers is unprecedentedly large, especially when Luo Tuo announced that it will be self-sustaining in gas and may even export it to the outside world.
The price, which was previously stuck at 60 to 80 yuan per barrel, fell below 40 yuan per barrel within ten minutes, triggering a transaction breaker again.
If there is no negative crude oil price setting now, negative prices may even occur.
The price of crude oil per barrel is less than 40 yuan. What is the concept?
This means that traditional coal-to-liquids have entered a state of loss, and some shale oil fields in North America have also begun to become unprofitable and even suffer losses.
Wall Street at this time.
Some people cried bitterly, some were ecstatic, some were indifferent, and some were complacent.
Under the brightly lit night, this is a big casino for speculators. There are many people who get rich overnight and lose money overnight.
Several investors who had successfully shorted the market were chatting and laughing while walking in the eight-figure step, discussing their vacation to Hawaii in the next few days.
Suddenly a black shadow fell from the sky and hit one of them directly, causing a scream and a sound of hitting the ground.
"Oh my God!"
"Call an ambulance!"
The people around were panicked and quickly moved away from the building while shouting, for fear of being harmed.
On the ground at the scene, the unlucky man who was hit had his neck twisted at 90 degrees, and there was basically no need to rescue him.
As for the "thing" that hit the person, the head was broken into pieces, just like the meat pulp of the hand beating the beef balls.
Ten minutes later, police lights flashed in the distance, and several police cars drove towards the scene of the incident, one of which had just stopped.
boom!
Another body of flesh and blood fell from the sky and hit the front windshield of the police car.
The detective in charge of leading the team cursed in a low voice: "Xie Te!"
Financial speculation can make money quickly, but it can also be lost very quickly. Especially in high-leverage futures trading, the price may fluctuate back and forth by more than ten or twenty percentage points in a few minutes. No matter how powerful a trader is, the position may be liquidated in an instant.
Especially those speculators who have invested all their wealth, once they lose all their money, they will really jump off the building.
In this crude oil futures competition, many people followed Goldman Sachs to go long, and their positions were directly liquidated by Huang's International.
And Goldman Sachs headquarters.
The atmosphere was also terribly gloomy.
It's night in North America now, and even if you want to get some good news about crude oil, you can only wait until tomorrow morning.
But Goldman Sachs can't wait for the sun tomorrow. Even if it's short selling now, not many people are willing to take orders and bet because there are too many short orders on the market.
Another half hour passed.
"Mr. President, I'm very sorry, but UBS and Deutsche Bank refuse to lend."
Lloyd was extremely exhausted. This time he lost, and he lost completely. He pressed his temple: "Rogers, arrange for the personnel in the asset management department to prepare to sell assets to pay off debts!"
"Mr. President, let me go to another bank..." Rogers said unwillingly.
But Lloyd shook his head: "They will not lend us money. If Goldman Sachs collapses, they can buy our assets at a low price."
This was how they dealt with Lehman Brothers and Bear Stearns back then. They took advantage of the subprime mortgage crisis, but they did not expect that things would turn around today.
Everyone is well aware of Lloyd's decision. This is the best way at present. They must pay off their previous bank loans to avoid defaulting on their debts and being forced to apply for coercive measures.
While Goldman Sachs suffered heavy losses.
Crude oil producers around the world have held internal emergency meetings to discuss how to deal with this matter. After all, it is difficult for them to leave the market with an annual demand of 270 million tons of crude oil.
Aramco, in particular, has shot itself in the foot. It has just paid a large amount of liquidated damages, and it has to face the plummeting global crude oil prices and the sharp drop in demand. Not to mention how depressing it is.
But now they have no other choice.
After more than two hours of quarreling, Aramco's board of directors finally decided to go to Chang'an to negotiate with the Energy Alliance.
The negotiation team was led by Chairman Arthur, President Amin, and Senior Advisor Daolin. They used Aramco's business aircraft and flew directly to Xianyang International Airport.
Aramco responded quickly, but Maozi from the north acted even faster.
Andreev, head of the Far East Branch of Lucia Petroleum Company, and others have already taken a plane and are about to arrive at Xianyang International Airport.
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