Chapter 245 - Abel, who was furious(2/3)
The number of standard foreign exchange futures lots piled on it has reached an exaggerated 2.8 million lots.
Calculated by the amount of funds, it is almost more than 280 billion U.S. dollars.
The GDP of the Kingdom of Norway last year was only US$171.2 billion, and the funds accumulated in foreign exchange transactions of their sovereign currency have exceeded their GDP last year.
Abel estimated that at this time, the Kingdom of Norway might have panicked.
Such a huge amount of funds is piled on the Norwegian krone. Whether it goes short or long, it will inevitably have a great impact on this country's sovereign currency.
If it really creates an avalanche effect, the people's livelihood and economy in the Kingdom of Norway may collapse as a result.
In fact, Norway had already asked the EU for help as early as two days ago.
Norway is not a member of the EU, and there has been no response from the EU so far.
At this time, the bulls and bears piling up on USD/NOK may also be looking at the EU's reaction.
The final situation of USD/NOK will probably depend on whether the EU will end up.
After looking at the information on the information wall on the screen for a while, I confirmed that my talent results had not changed.
After Abel was satisfied, he said to David Mellon: "Continue to hold, but this time I may not be able to eat big meat."
David nodded and said, "I've already talked to Jed, and he feels the same way."
Jed is one of the company's presidents and a senior executive of Smith Capital.
In the United States, a company can have many presidents, especially financial companies or banks.
Like Goldman Sachs, in addition to tens of thousands of vice presidents, there are also more than a dozen presidents and several senior partners.
Above these people is CEO Paulson.
The president is the president and the CEO is the CEO.
For example, O'Neal, the black president of Merrill Lynch who has been jailed, is one of the presidents of Merrill Lynch.
The chief executive officer, also known as the CEO, is generally the most powerful person in a company besides the chairman.
Smith Capital now has two presidents and one CEO.
One of the two presidents is Melio, the former deputy manager of Smith Capital, who has become one of the company's presidents.
Melio's responsibilities have not changed and he is still responsible for administration and management.
Jed was a new president who was promoted from within the company when the company expanded its recruitment later.
Mainly responsible for investment direction, like David, he is a famous young elite on Wall Street.
Seeing what David Mellon said, Abel asked:
"Then have you discussed with Jed what is the reason for this strange phenomenon that so much money is piled on USD/NOK."
David nodded honestly and said: "We have discussed it."
Abel was a little interested and asked: "Then what do you think caused it?"
Something as strange as the current USD/NOK situation has rarely occurred in the history of foreign exchange trading.
Huge amounts of funds are piled up in a small currency pool.
The Southeast Asian financial crisis a few years ago occurred several times.
Those few times were the looting of several small Southeast Asian countries by international hot money under the guidance of Soros.
The accumulation of huge amounts of funds on those occasions was all with a purpose and direction.
They all act collectively and have the same goal.
It’s not like USD/NOK now, where a lot of funds are accumulated, but it’s a stalemate between long and short, entangled with no winner or loser.
David said: "The result of the discussion between Jed and I is that this is inevitable due to some kind of coincidence."
Abel smiled: "How to say?"
"What Jed means is that the initial stalemate between us and the Neon Man attracted too many onlookers. Some of these onlookers couldn't help but end up watching."
"But after these people left the market, the influx of a large number of retail investors offset the changes in the exchange rate, causing the exchange rate price to calm down again."
"Then there may be other organizations that feel the time is right to end it. Then the above scene happened again."
"Of course, the subsequent consequences will lead to a balanced situation. It may not only be those small retail investors, but there may also be some institutions hidden among the retail investors."
After hearing the result of the discussion between David and Jade, Abel smiled and nodded.
"Your guess is basically correct. The reason why this situation is so weird is because our early stalemate attracted too many retail investors."
Abel said: "I dare say that at least half of the retail foreign exchange investors in the world are now concentrated on this currency exchange. Coupled with the entry of institutions, we have the current situation."
After discussing this speculation, David and Jed did not dare to make a decision.
Because anything can happen in the foreign exchange market, and even the weirdest things sometimes seem normal.
Now after the boss explains it like this, even the boss thinks so.
David felt that his and Jed's judgment should be correct.
"Then what should we do next?" David asked again.
Abel pondered for a moment.
This "interesting" thing that happened in the international foreign exchange market also happens occasionally in the capital investment market.
For example, in parallel time and space, the "GameStop" incident that will occur in the U.S. stock market in the future is somewhat similar to this incident.
Probably due to some coincidence, a large number of retail investors entered the market.
More retail investors entered the market, creating a trend effect.
More and more retail investors find it profitable or enter the market for other reasons.
When there are more retail investors, the amount of funds increases.
Organizations that smelled blood followed suit.
Then a large group of retail investors stood on the long side and the short side, and started fighting with the enemy.
Organizations continued to add to the cold fire, and finally it became the strange situation it is now.
This scene was unexpected even for Abel's talent.
Abel's talent was first revealed to him.
Taking advantage of a special black swan event, Abel can take a severe cut on the Neon Man.
But some changes occurred later, and the situation began to change to the current situation.
What happens next, and the consequences that will follow.
The results given by Abel's talent at the beginning are different.
Fortunately, Abel's talent has never been static.
After the results changed, what the talent told Abel would also change accordingly.
In a scene like this, what should be done is the best solution.
The talent was still revealed to Abel.
Abel's choice to stand still was a judgment made by his talent.
After telling David to remain unchanged in the face of any change, and to inform him at any time if any situation arises.
Abel stayed in Smith Building for more than an hour before leaving.
This time he did not return to Manhattan. Instead, he boarded a helicopter on the roof of the Smith Building and headed directly to Long Island.
The destination is No. 1 13th Road, Royal Point, New York.
He has been coming to this place less and less recently.
It wasn't that he was getting tired of Elizabeth's angels.
Just kidding, there are twenty-five immortals in the country.
I've only played a lot of them once or twice.
Even if you play a lot, you won’t have to play it many times.
Even if you get tired of it, you won't get tired of it so quickly.
The reason why he came here became less and less.
It was the all-pervasive paparazzi and reporters who finally discovered this place after several months.
Since April, hundreds of paparazzi have appeared in the neighborhood almost every day.
They were trying to take private photos of Isa's angels or get some big news.
In other words, No. 13, Royal Point, New York, has been exposed as the back garden of Isa’s angels and Abel.
This place has been labeled in the media as the dormitory of Isa's Angels in New York.
The identity of the owner of this villa, Abel, was also exposed.
To be continued...