Chapter 124: Avalanche
There was hardly any snow in Minjun, except for a few during the Great Famine many years ago. Pen "Fun" Pavilion www.biquge.info
Therefore, in the face of the sudden collapse of orchid futures and trading, no one thought of the adjective avalanche, and naturally did not think of the statement that no snowflake was innocent at the time of the avalanche, so all the anger was vented on the orchid and the officials.
After the news of venture capital in the red brick building came out, to Chen Jian's calculation of a big number of two to the fiftieth power to scare people.
In just one day, an unprecedented scene appeared in the speculative and futures markets that had been falsely prosperous.
Originally, because of the funds raised, some speculators and wealthy citizens who saw the problem tightened their wallets and prepared to invest the money in the maritime trade venture capital that began to be raised three days later.
After all, it's a real thing, and people who are fanatical to the top are still a little sober.
This has led to the stagnation of orchid futures speculation, if it is only a stagnation, there is always a time for people to see hope.
However, on the afternoon of the twentieth day of the lunar month, more than a dozen people suddenly rushed into the orchid futures exchange and rushed to sell at a price of only 80% in the morning.
It was supposed to be just a stagnant, and people just waited and saw because they needed cash, so prices didn't plummet in the morning.
When these dozen or so people began to sell, some people sensed that something was wrong and did not dare to take over, but quickly sent someone outside to inquire.
By the evening, the numbers on the walls of the red brick building and the words in front of the brick walls had been spread, and all the speculators and wealthy citizens knew Chen Jian's words.
That night, the whole city of Fujian was in chaos.
Several years of false prosperity have involved too many people in Mincheng, and too much liquidity, which is no longer a matter of a few people or dozens of people.
Early the next morning, the teahouse and liquor store, which was originally busy every day to disseminate trading information, had not yet opened, and a lot of people had gathered outside.
Many people still have the last trace of illusions, and maybe there are people who have not heard the news, and they will come to the bottom.
Or, even if it is not sold at a normal price, even if it is not made as much as it is earned, even if it is to recoup the money you spent on the purchase.
But reality soon made these people desperate.
At the end of the year, it is the time for the spring and summer to book bulb futures trading, and those who buy futures only pay some deposits in advance, but do not give the full amount of money.
Originally, the futures bill with the number written on it could be exchanged for a shiny silver coin in a day when it was taken out at random, but now it is just a piece of waste paper.
Those who booked futures calculated the gains and losses and did not show up at all.
They decided to rely on these futures bills, and the deposit they paid should be ignored, and they would be regarded as a waste. It's better to do this than to get more money.
However, the speculators who had already booked bulb futures would not agree, and they only got a deposit for these futures notes, but this deposit was not even a third of the cost of their original speculation.
One side wants to pay the bill, and the other side wants the other side to continue to admit in the face of a clear avalanche in the whole market.
The day before, the amiable speculators turned against each other overnight, and dozens of big speculators gambled their lives, thinking that after doing it this time, someone would take over and not do it, but they didn't expect to become the last person to take over.
And those who trade with spot and cash are even more tearless.
People who get bulbs or orchids find the buyer a few days ago and want their money back, even half of it.
However, the person who had already received the money took out the bill with stamp duty and told him that the purchase transaction had been completed and that there was no way to return it.
After all, this is not a forced purchase and sale, but a normal mutually beneficial transaction, you can't say that you bought from me, and you want to get the money back when it's worthless the next day, right? If the price increases, why haven't you seen me divide the price in half?
By noon, there was a turnaround, and one speculator, perhaps finding it profitable, decided to buy it at 30 percent of the original price.
But just half an hour after the news came out, in the face of the swarming merchants, the big speculator knew that he had guessed wrong, gritted his teeth and admitted the previous transaction, and interrupted the follow-up transaction.
It looked like a return to the past, with the avalanche-like market only holding up for a while at noon, and then falling all the way down.
By the evening of the next day, the trading price of bulb futures had changed to 10% of the day before yesterday, but even so, there was still no one to back up.
And looking at this trend, it seems that there is a possibility of a further decline tomorrow.
All the people in Mincheng who were involved in the orchid speculation were crazy and couldn't believe what had happened in the past two days.
The futures notes in his hand were worth thousands of silver coins two days ago, and he saw that he could repay the money he had borrowed, but in two days, the bill shrank to dozens of silver coins.
The orchid in his hand, which was a flower of hope that the family had saved for many years two days ago, turned into a pot of broken flowers in two days, which made the whole family fall into despair and make it worse......
It's like a dam that bursts, once there is a gap, it is out of control and can no longer be stopped.
After several days of sharp falls, no one cared about them for several days, and in half a decade, more than a dozen people in Mincheng who had lost their money chose to commit suicide to escape the terrible life.
For the vendetta, revenge, murder, and persecution caused by the previous transaction, more than 20 people were injured, and more than a dozen families were broken into the door and robbed.
The worst of the scenes happened to a man who had no way to walk, and he spent all his savings five days ago to buy a pot of flowers from a friend. Because my friend was in dire need of money, the price was a little lower, and the two of them had a drink after the transaction.
But what happened next made the person who bought the flowers desperate and ran to a friend's house to ask him to return the money, even if it was only half of it.
The two sides were at a stalemate, and there were some quarrels, and in the end they said some ugly things. That night, the person who bought the flowers also knew that his life was over, and with his previous anger, he rushed into a friend's house with his own axe, killing all seven people in the family, even the four-year-old child, and finally committed suicide.
The evil after the bubble bursts is not only a plunge in price, but also shows the greed, ruthlessness, and despair in the bottom of people's hearts in various ways.
On the twenty-seventh day of the lunar month, the New Year should have been celebrated immediately, but the officials in Mincheng were not in the mood to rest.
The murder case a few days ago and the suicide in the past few days seem to be able to be killed and sentenced, but the year-end assessment is completely over.
The officials who were originally assessed have already given a middle-to-upper evaluation, but after such an incident, the evaluation that was originally okay has been reduced to a medium.
When a large county suddenly becomes like this, it is always necessary to find out a few people who are responsible, but in addition to carrying the blame, there are more important and more urgent things to solve.
A group of sellers holding futures trading contracts surrounded the door of the magistrate's house and the door of the Judicial Yuan.
Those who bought refused to pay the rest of the money because of the price plunge, and many even chose to flee with their families during the Chinese New Year to avoid the limelight, or locked the door to prevent outsiders from entering.
The transaction contract has a government stamp on it, and there is no problem with the bill that has paid the stamp duty, and the transaction price on it is also clearly written.
The people who surrounded the gates of the Judicial House shouted for a reasonable verdict from the magistrate and demanded that the purchaser pay the remaining money.
These were not the poor who saw at most three or five silver coins a year, but there were speculators, nouveau riche who had made a fortune in the past two years, as well as the gray people of the city, the shopkeepers, and some of the middle townspeople.
The transaction was legal and reasonable, and there seemed to be nothing to consider, but the magistrate could only hide his head in his house and not show his face.
Because in front of the yamen of the county guard, there is another group of people, who are buyers of futures.
Dozens of people carried two fresh bodies that had just committed suicide, weeping bitterly, shouting that the people were now in a state of misery, and that they were going to be forced to die.
They ask the county to take a back seat, or to invalidate the deal, and they can take a step back and not get back the deposit. Or they want the county to pay for all the orchids at their purchase price.
If you don't do this, it will be a shame for the government to force the people to oppose the people.
Everyone stood in front of the door, crying loudly, begging the officials to make decisions for them, and if they went on like this, they were afraid that more people would die.
Of course, there is no real bottom among these people, and those who can still get involved at this time are all people who are worth a lot of money and have a huge impact.
The owners of several large workshops complained bitterly that if the county did not come forward to solve the problem, their own workshops would not be able to continue due to lack of funds, and then hundreds of unemployed people would have to cause trouble in the cities and towns, creating many lawbreakers. Especially at this time, it is the end of the year, if you don't call the shots, I'm afraid that you won't be able to pay the money for the New Year, which will provoke the people!
After several years of fermentation, there are still some of the middle and lower classes who are still involved in it, although there are some middle and lower classes who gamble on their lives, but more of them are involved in the middle and upper classes, after all, this thing is not just needed, it is obviously a kind of speculation.
But that's why things get troublesome.
If it was the bottom and middle and lower classes, the army or security team would have been dispatched long ago, and a few sticks would have been smashed down and a few shots would have been taken and thrown into prison, or sent to a barren reclamation land, and the incident would have subsided. Every few years, the middle and lower classes have to make trouble, and the last miners' incident and the earlier combing revolt in the north have been handled quite skillfully.
But now it is not the middle and lower classes involved, the problem becomes complicated, those methods cannot be used, many of them are leading figures, and they are all members of the county clan or the county council, how can there be a stick to draw on their own people?
However, the requirements of the two sides are completely different, which makes the officials extremely difficult, and they have no intention of celebrating the New Year for a while, and they do not want any year-end assessment, but only want to stabilize this matter first so as not to cause a bigger turmoil.