The Magician’s Memorial - Chapter 380



Only Krnovel

380. Reach out your hand (5)

The Saudi royal family’s problem was a future problem.

Right now, the impending oil war was more important.

Maybe that’s why George, CEO of Quantum Fund, came to Korea.

“Mr. Kim, I sold all my crude oil futures. When can I start short selling?”

“I have personally seen the atmosphere in Saudi Arabia. It looks like they will soon implement a policy to increase oil production. Please wait a little longer.”

“For this operation, I secured funds not only with all of Quantum Fund’s assets, but also with debt. I feel frustrated because the interest is accumulating day by day.”

It wasn’t just Quantum Fund.

All financial companies in the financial tower, having benefited from the Crimea incident, had raised as much money as possible.

Money was bound to accumulate if it circulated around.

If you’re just going to keep it, who would put money in a financial institution instead of depositing it in a bank?

Investors began to criticize the actions of financial companies that remained silent without any movement.

“Please be patient and wait a little longer.”

“I can’t hold out for too long. At best, the limit is the first half of this year. If the first half of the year passes, the solidarity of the financial tower may weaken.”

“Please trust and wait. I will tell you the best timing.”

Representative George goes out with a nervous expression.

If he reacted like this, people from other financial companies had nothing to see.

Everyone must have been so black inside that they were on the verge of turning to ashes.

I was equally nervous.

I knew an oil war would start.

We didn’t know the exact timing, and we had to move very carefully because a single day difference could mean hundreds of millions of dollars in profit.

Grumble!

As was my habit, I opened the drawer and took out the photo.

These were photos of the Saudi royal family, and most of my daily routine these days was checking all their details and finding weaknesses.

“Chairman, Center Director Cheon Min-jeong is here.”

“Ask them to come in.”

Just before my eyes became bloodshot.

Center Director Cheon came to see me, put the photo back in the drawer and greeted her.

“What’s going on? Center Director Cheon came to see me at this hour.”

“We caught a big catch. We found accounts where more than 10 Saudi royals were embezzling the royal family’s money and using it for personal use.”

It was Center Manager Cheon who gave me the account information.

After receiving that information, I couldn’t help but believe my eyes.

Because the account had too many zeros than I expected.

“Saudi Arabia is definitely different. In Korea, people embezzle billions of dollars at most, but the Saudi royal family moves in trillions.”

“I have a strong feeling that this account is part of an iceberg. If you add up all the funds the royal family has accumulated illegally, I think it would be more than our country’s annual budget.”

South Korea’s annual budget exceeds 355 trillion won.

There was no way that Center Director Cheon did not know that, and his words were based on the results of analyzing and interpreting the information received so far.

“That amount of money would be enough to warrant a purge. And the size of the account discovered today is enough to solidify Governor Salman’s mind.”

“Thanks to the information the chairman gave me, I was able to quickly find the traces.”

I looked at the details so intently that my eyes were bloodshot.

Center Director Cheon’s words acknowledged that my efforts were not in vain.

“This is additional confirmed information. It will be helpful.”

“How do we get this information? I need to go back quickly. If we update the algorithm planted in Saudi Arabia, we can get more detailed information.”

“There is still a lot of time, so don’t be too hasty. Just take it one step at a time slowly.”

“I can’t sleep if I don’t think about it when it comes to me.”

Center Director Cheon hurriedly went down.

I handed over the data contained in the USB she left behind to Governor Salman via the Internet.

I was well aware that security problems, such as hacking, could arise through the Internet.

Nevertheless, it was because I was confident that I could hand over the data via the Internet.

The data was protected by a security system created by Center Director Cheon and Taewo Group’s cryptography experts.

The data itself was converted into an cipher, making it impossible to decipher even if stolen.

Cryptography experts who created Bitcoin.

Even in the United States, it would take several years to crack the code they created.

“You’ve already contacted me.”

30 minutes after sending the data.

I received a call from Salman.

The content of the material I sent was serious enough to urgently contact me.

[The material you sent was well received. It was so bad that it was very rotten.]

“The box containing the fruit is rotten, but the contents are fine. So shouldn’t we throw away all the boxes and collect them in a clean place?”

[I guess so. Even if it’s difficult right now, I think we’ll have to do it sooner or later. Thank you.]

Salman’s voice was full of sincerity.

He didn’t know that the royal family was this rotten.

Once I saw their reality with my own eyes, I felt like I had decided what to do next.

“We have more rotten boxes left. We will keep you in touch.”

[I’m just sorry I only received it. I’d like to talk on the phone longer, but I have a lot to prepare because I have to go to the oil drilling site starting next month. Then I will contact you again next time.]

Salman indifferently hangs up the phone.

If anyone else had heard our conversation, they might have thought that Salman was just receiving it.

But Salman never just accepted. He paid me for the information I gave him.

Going to the oil mining site starting next month?

This was a signal that oil production would begin to increase starting next month.

It was Salman who secretly told me advanced information that no one else knew.

“Ask President Han to come in right away!”

I called the CEO through the secretaries.

It was a CEO who came running up after less than 5 minutes of waiting.

“What’s wrong?”

“D-DAY has been decided. Saudi Arabia will begin increasing oil production next month. This is information I heard directly from Salman, so the accuracy is over 90%.”

“Then let’s start short selling now! It’s going to be very chaotic starting next month.”

“Oil prices will fall more than they did during the financial crisis.”

The current price of crude oil is $110 per barrel.

However, due to OPEC’s decision to increase production, including Saudi Arabia, the price per barrel will drop to the $40 level.

A simple calculation showed a profit of $70.

However, because we would actively use leverage, the profits could increase tens or even hundreds of times.

“We will start right now, from short selling crude oil futures to short selling oil mining companies.”

“Did you have a good conversation with Damon?”

“That’s right. Most of Taewo Group’s funds were deposited in a fintech bank, and it was made to look like the fintech bank was leading the short selling. And the fintech bank also decided to pour a lot of funds into this operation.”

The scale of this short sale was the largest ever.

Of course, it was clear that the media would dig into it, and there was nothing good about Taewoo Group’s name going up and down.

So, we borrowed the name of the fintech bank on the condition that we pay some of the fees to the fintech bank.

Since I own the fintech bank, the fees are not a waste at all.

And since the fintech bank also decided to invest an astronomical amount of money in this operation, I was literally betting everything.

“Are there still financial companies that don’t believe in the decline in crude oil prices?”

“Most of the financial institutions that agree with us have divested all of their crude oil futures, but some are still holding on tight.”

“Please warn us. We warned you that crude oil prices are expected to fall, so you can’t shift responsibility to us.”

Core financial companies were moving as one body.

However, some financial companies that joined the operation late did not yet have deep trust in the financial tower, and there were cases where they trusted their own judgment more.

If you pay a high price for doubt, you will never repeat the same mistake again.

If you keep in step with us, even if it’s belated, you can not only make up for your losses but also make high profits.

However, if there was a financial company that worked against us until the end, it would go bankrupt.

“We will first secure as much volume as possible. Even if we lose a little, we must secure as much volume as possible from now on to make greater profits.”

“You have to move faster than others to monopolize the delicious parts.”

The start of the oil war is now less than a month away.

In the meantime, all funds from financial towers, including Taewo Group, bet on a decline in crude oil prices.

* * *

When a month has passed.

The OPEC meeting was held, and oil producing countries, including Saudi Arabia, announced an increase in crude oil production.

It coincided exactly with the timing Salman had mentioned, and it was good news for us who were preparing in advance.

“Chairman! The price of crude oil has begun to plummet. The price of crude oil, which was around $110, has fallen to $105.”

“That’s about a 5% profit. Not bad for a first start.”

You could have said it was only 5%.

A 5% drop in one day was not a small figure.

If it falls by 5% every day, the price of crude oil will be cut in half before the end of the year.

“Because we used more than 5 times leverage, the rate of return was more than 25%. We were able to recover all the funds used during the preparation period in just one day.”

“All the money coming in from tomorrow will be profit.”

“The atmosphere in the Financial Tower is burning again. The high-end bars near the Financial Tower will probably be full starting tonight.”

It was very easy to find out the performance of the financial tower.

I could tell just by looking at how much sales were coming from high-end bars nearby.

Starting today, it will be difficult to make reservations at high-end bars for a while.

“What is the reaction of the financial companies that were holding on to the crude oil? Are they still stubborn?”

“I was shocked and moved from a long position to a short position. However, although some places gave up their long positions, there are also places that did not follow up with their short positions.”

Should we say that he is stubborn beyond stubbornness?

Or should we call it courage?

It has been announced that the oil war has begun, but there is a financial company that believes it is not a war but a small happening.

“If they see other financial companies making huge profits every day, they will follow suit. And from now on, they will unconditionally trust the financial tower’s information.”

“Financial company executives who had fun today came to me and thanked me over and over again. If I told them to bark, they would bark.”

After all, the power of money was amazing.

Although it was a financial company with stronger pride than any other industry, it was also a group that would always bow its head to those who made it money.

“It’s troublesome if you start wagging your tail already. There’s still a lot of food left to give.”

“It looks like I’m going to turn the ship upside down later. And I collected the information I received from the bar in Myeongdong and sent it to you.”

“Is there any information related to the Saudi royal family?”

“Although we could not confirm everything, there was quite a bit of information related to the Saudi royal family. However, most of the information was unsubstantiated.”

What can’t you say in a bar?

There is a saying that people talk seriously while drunk, but there are also many people who brag on the contrary when they are drunk.

In particular, the bragging of people in the financial industry could be seen as worse than that of gangsters.

“Even if only 10% of the information is correct, it is still useful.”

“And information is coming in through David. Information held by various countries’ intelligence agencies is being stolen and sent, including information from the CIA.”

“Collect it and send it to Center Director Cheon. He will filter and use the information on his own.”

“I’ll just go down now. I’ve never enjoyed looking at charts as much as I do these days.”

It was just the beginning.

If it had been like this, it wouldn’t have been called the oil war.