Chapter 1423 Diamond War (9)
Within three days, Ant Country’s senior management suddenly called for payment of all diamond mortgage loans.
As a result, diamond merchants around the world had no choice but to sell diamonds in stock.
This behavior caused the wholesale price of diamonds to begin to fall.
This drop made Ant Country’s call for loan payments even more urgent. In order to repay the loan, diamond dealers had no choice but to continue selling diamonds, triggering another round of price decline.
After such a vicious cycle, thousands of diamond merchants eventually went bankrupt and their loans could not be repaid. Ant State had no choice but to take over their goods.
The end result is that the official financial institutions of Ant Country are hoarding more and more diamond collateral, but not much of the loans on their books have been recovered.
Now the Ant Kingdom is in danger!
In order to solve this matter.
Cedric Obinmo and several other Obinmo families made an emergency visit to De Beer, the head of Ant Financial Risk.
The two sides had a heated discussion on the issue of returning the 600 billion loan.
Cedric Obernmo: "Mr. De Beer, we have been cooperating for hundreds of years, and I believe we still have a certain degree of friendship. As long as we survive this period, diamond prices will definitely pick up, even if it costs us two dollars." We also have the ability to double the loan!
But not now! Asking us to pay back the money now is equivalent to forcing us to go bankrupt! "
De Beer: "If you don't repay the money, you will force our Ant Nation to go bankrupt! We don't want your double repayment, we want 600 billion in principal! Otherwise, those depositors will even demolish the palace!"
"Also, how can it be so easy to raise the price of diamonds you mentioned?"
"Let me tell you, before we asked you to come, we had already shipped a large amount of diamonds to the Overlord and major Western countries for sale, but no one was willing to take over!
The market is extremely depressed and full of unprocessed semi-finished products! "
"The only way now is for the Obanmo family to buy back these diamonds yourself."
The two sides went back and forth and discussed it for a whole day, but there was still no result.
The two sides temporarily stopped fighting and went back to figure out their own solutions.
The Obanmo family certainly cannot afford this money.
Firstly, they don’t have that much money in their accounts, and secondly, with the remaining money in their accounts, they must continue to promote the diamond price increase plan, which must not be stopped! Stop, there is only a dead end!
"Securing Ant Country's loan requires a large amount of cash flow. If we obtain this money through borrowing, it will completely change the capital structure of the Obenmo family and even lose its current market position. This is something I absolutely don't want to see! "
Cedric Obern said with a headache: "Please go back and think of a way, find your relatives and friends, raise all the money you can, and make sure to stop Ant Country from dumping the diamonds in its hands!"
After De Beer returned, he also reported the situation of the Obanmo family to his superiors.
"It is unrealistic to force the Obonmo family to repay the money now. Dumping all the diamonds will only make the situation worse.
I think a compromise should be found. "
After De Beer's persuasion, the senior management of Ant Country agreed to let him discuss a solution with the Obenmo family to get the best of both worlds.
for the next seven days.
De Beer held discussions with senior members of the Obonmo family for seven days and nights.
Both parties believe that there are two solutions to this crisis: first, Ant Country sells the diamonds it has hoarded, but this will cause a global market panic and turn diamonds into street goods; second, the Obanmo family provides part of the money to buy back the diamonds. For some diamonds, Ant Country will sell some diamonds on a small scale to get over this hurdle first.
Obviously, the first way is to flip the table.
Once the table is turned over, no one will be able to think about it. Neither party is willing to go to that step unless it is absolutely necessary.
Finally, with the compromise of Cedric Oban, the two parties reached a solution: the Oban family bought back some of the diamonds for 200 billion, and Ant State sold a small amount of diamonds to make up for the losses.
When the senior members of the Okumoto family returned home, their morale was almost as low as it could be.
They know that Ant Country said it was selling in small quantities, but the base of goods they stocked was too big!
Almost equivalent to the annual output of diamonds in the world! ! !
Under this base, no matter how small the quantity is, the price of diamonds will drop a lot!
Prince Chen Mo’s Mansion.
"The Obonmo family met with the top leaders of Ant Country. The two parties talked for a long time. The specific details are not known yet." Jiang Pengyuehui reported.
"Have you sold all your diamonds?" Chen Mo asked.
"They're all sold. It's really hard to sell this thing. The audience is too small. It still smells like gold!" Jiang Pengyue said.
"Well, just sell it."
Chen Mo stood up, stood with his hands behind his hands, looked to the west, and narrowed his eyes slightly: "The plunge... is about to begin!"
really!
After a month.
The diamond market ushered in a wave of terrifying price cuts without warning!
The benchmark price of a flawless diamond of one carat plummeted from 50,000 to 50,000 national coins!
The price dropped by nearly 50%!
Moreover, there are diamond sellers in Ant Country who sell diamonds worth 60 million Hegemon coins for only 20 million Hegemon coins!
"No one expected that diamonds would fall in price like other commodities. Everyone thought that the price of diamonds would be stronger and stronger than its own quality." A banker from a hegemonic country told the San Roto Times So said.
Through this turmoil, people have clearly seen that the Okumoto family is completely powerless against large-scale diamond dumping.
Fortunately, the price of diamonds stopped falling when it dropped to about 50%.
Because the price is right, and in 2004, diamonds were bound to love, many people are still willing to use diamonds when getting married or giving gifts.
This made the Obanmo family relax a little.
They are prepared to wait a while longer to bring back the diamond price increase plan that was shelved in the past few months and continue with it.
But it's a pity that Chen Mo didn't intend to give the Omotomo family this opportunity.
Daxia Kingdom, the imperial capital, the most prosperous commercial street.
Chen Mo was discussing shooting instructions with a reporter.
"Mr. Chen, do you want me to exaggerate the report?"
"No need. This report must be truthful. You can report the current situation of the diamond mortgage. There is no need to make false claims."
"good."
Soon, the interviewee appeared, a woman.
She took out two diamond rings that she had treasured for a long time and planned to sell them for some money.
"I bought this one 16 years ago, for three to four thousand yuan! Think about it, it was three to four thousand yuan in the 1980s! And this one, I spent 15,000 yuan 10 years ago Bought for a dollar.”
"Have you heard that the diamond market has been in a downturn recently?"
"I heard about it, but the total cost of these two diamond rings is nearly 20,000 yuan, and they have been stored for more than ten years. Plus the currency depreciation and other things, I can sell them for 10,000 yuan, right?"
"I think it's okay. The psychological expectations are already very low."
Even the reporters thought there was no problem.
But Chen Mo next to him smiled disdainfully.
Thousands of dollars?
The moment a diamond is sold, it is like worthless white paper to the diamond merchant!
"Viewers, let us follow the camera and see how much a diamond ring that was enough to buy a small house in the 1980s can be sold for now?
Everyone will wait and see! "
