Zhou Ming has always been very resolute and unremitting, so he decided to take the CDS contract as a breakthrough point, and the entire Chinese Chamber of Commerce immediately took action.

Tang Jingsheng, who had the title of honorary president of the Chinese Chamber of Commerce, took action personally. He called the office of the chairman of the National Insurance Group that day, but Tang Jingsheng didn't say much on the phone, just came out to play bowling together.

National Insurance Group is a very powerful insurance company in the United States, especially in financial services. National Insurance is the most pioneering and innovative. It is said that the CDS contract was originally created by National Insurance. Therefore, nearly half of the CDS contracts of the Chinese Chamber of Commerce were given to National Insurance this time.

Then Tang Jingsheng flew to New York, booked a luxury bowling alley in Manhattan, and called Hollywood stars to accompany him.

Of course, these are secondary. The most important thing is that when Tang Jingsheng was happy to bowl, he took the initiative to propose the CDS contract repurchase to the chairman of the National Insurance.

The chairman's first reaction was of course to refuse, and he felt that doing so was unruly.

But Tang Jingsheng's subsequent words changed his view. Tang Jingsheng told him that these CDS contracts are quite risky, and they cannot read the data on paper, and that they are very sincere in their own repurchase and are willing to pay a 16-month premium in one lump sum.

To be honest, the chairman was a little moved because he actually knew what Tang Jingsheng said. After all, Brighton's CDS contract was thundered, which made him understand that the so-called paper data was stolen. The default rate of one company was 50%, and the probability of two companies defaulting at the same time was 25%. How can the market economy be summarized so simply?

So the chairman quickly made a decision in his heart, but on the surface he still insisted on the credibility of his insurance company and believed that transferring the CDS contract was a matter of destroying his reputation.

Tang Jingsheng felt like a mirror in his heart. As soon as the other party spoke, Tang Jingsheng understood what he meant: he had to add more money.

However, even though he understood, Tang Jingsheng was indeed ready to do this, but his words could not be so direct. Tang Jingsheng still put the facts and reasoned, telling him that the premiums in June were already quite large, and he also said that once the international market changes, the amount of compensation may even be lost.

"Two years are too long, and too many accidents are likely to occur in the middle. Once a few more compensations occur, it will have a huge impact on the insurance company's profits. Therefore, it is better to pass on the risks you have in your hands and get a 16-month premium without taking any risks."

"But Mr. Tang Jingsheng, I think you also understand that those who do international trade are powerful large enterprises, and the chances of accidents are generally very low, so these CDS contracts will not enter the compensation stage."

Tang Jingsheng and the chairman of Quanmei Insurance each had their own opinions and discussed each other for a long time before finally reaching an agreement to pay the 17-month premium for each CDS contract, plus bundled purchase of Kissen and other similar CDS contracts from other chambers of commerce.

Tang Jingsheng, who walked out of the bowling alley, was about to smile, because this was their original plan, and even a month's premium was cheaper than they expected.

The chairman of All-American Insurance is also very happy because the 17-month premium is equivalent to being in vain.

There is no airtight wall in this world, not to mention that Zhou Ming did not intend to keep it confidential from beginning to end, so the matter of the Chinese Chamber of Commerce repurchasing CDS contracts quickly reached the ears of others, especially the media.

Wall Street Finance stood up right away

This behavior is criticized, believing that it is a bad behavior that disrupts the financial order: where can I insure myself? I insure myself, can I still pay myself for it if something happens? This is an authentic financial fraud. The Chinese Chamber of Commerce deceived all its investors and suggested that relevant institutions conduct investigations.

As Wall Street Finance took the lead in firing, other media have followed suit and criticized the Chinese Chamber of Commerce for its own protection.

Not only these media, but even after seeing the news from the media, the wealthy families like Morgan and Rockefeller called Zhou Ming to ask what was going on. Is ABS financing really just a scam? It can be said that the Chinese Chamber of Commerce was under tremendous pressure in an instant.

But this was exactly the result Zhou Ming wanted, because immediately afterwards, the Huashang Chamber of Commerce released its own CDS contract, and it also acquired many CDS contracts such as Kissen and other chambers of commerce.

Zhou Ming then asked Columbus TV to release an interview that had been prepared for a long time. In the interview, Tang Jingsheng talked about the fact that the Chamber of Commerce Platform would be a hot topic in the future.

"With the acceleration of globalization, especially Huaxia has not officially joined the WTO, many foreign trades need a platform turnover, which is a very good opportunity."

"I know about the New York Kissen Chamber of Commerce. I think Mr. Orrison is an entrepreneur who dares to think and do very well. I don't think there is any competitive relationship between the Chinese Chamber of Commerce and the Kissen Chamber of Commerce. On the contrary, I think we should cooperate with each other so that we can better build the market..."

This interview shocked the whole of the United States. Through this interview, many people suddenly understood what the Chinese Chamber of Commerce used to buy back CDS contracts.

He is making arrangements in advance!

The Huashang Chamber of Commerce saw the development prospects of similar platforms in the future Chamber of Commerce, and knew that there would be great room for operation in the future CDS contracts, so it entered the market in advance to acquire it.

My husband! This old profiteer!

I don’t know how many people this discovery shocked, nor do I know how many people scolded in my heart.

The first thing to be affected is the chairman of All-American Insurance, who just completed the transaction. He originally thought he had taken a big advantage, but now it seems that he is the one who has taken a big advantage.

He is it? Anyway, he has already obtained the money himself, and the risks have been passed on, so he will not lose at all.

He thought so, but the shareholders of the National Insurance Group did not think so, especially when they saw the Keesen Chamber of Commerce and other Chambers of Commerce entering the market one by one and starting to acquire CDS contracts on the market. After seeing some contracts being sold, they could buy dozens or millions of dollars, they became even more uneasy and put pressure on the chairman to buy the CDS contract as soon as possible.

The chairman had no choice but to bite the bullet and call Tang Jingsheng and talked about the CDS contract, hoping to buy it back.

The chairman started through the current situation and told Tang Jingsheng that the whole United States was very opposed to the insured by himself, and even the FBI intervened in the investigation, so he hoped that Tang Jingsheng could sell the CDS contract back to the whole United States insurance, and that the whole United States insurance was willing to pay a certain handling fee.

Tang Jingsheng was happy as soon as he heard this. He told the chairman that countless buyers had called before him during this period. The reason why he did not sell it was because this thing had a lot of room for appreciation.

Tang Jingsheng also generously gave the other party an idea: "In fact, the U.S. insurance does not have to be repurchased from me, because there are many CDS contracts from other chambers of commerce on the market.

, these are also something that can be traded and appreciated."

Regarding this, the chairman of All-American Insurance kept scolding his mother in his heart: Just kidding, would he call him if he could buy other CDS contracts? Now the momentum has been blown up, as long as it is a chamber of commerce CDS contracts, it is very popular, especially the ones from the Chinese Chamber of Commerce are the most popular.

How could the chairman of the National Insurance Company not know that Tang Jingsheng is just raising prices? But he has taken the lead and he agreed to sell the CDS contract. Now he wants to sell it back again.

But the chairman obviously is not a good deal. He told Tang Jingsheng: "You might as well tell you that I am helping you because the market for CDS contracts has risen now, and everyone is rushing to buy contracts. The contracts of the Chinese Chamber of Commerce are the most popular. Mr. Tang, what consequences will be brought if you continue to hold them in your own hands and don't let go."

He also told Tang Jingsheng that he had heard that many people were preparing to file a lawsuit in the court. If the Chinese Chamber of Commerce and Commerce continue to hold it, it will only bring endless trouble. It would be better to let go as soon as possible.

Tang Jingsheng hesitated for a while, and then told him that he needed time to think about it.

Although the chairman of the National Insurance Company was anxious, he also understood that this kind of thing was not something that Tang Jingsheng could decide alone. He knew very well that the real manipulator behind this matter was the young Chinese named Zhou Ming.

As the chairman of National Insurance, his vision is still very accurate. Tang Jingsheng does not have the right to sell the CDS contract, but he probably didn't expect that Zhou Ming was behind the scenes when things developed to this point.

After Tang Jingsheng hung up the phone, he came to Zhou Ming's office and reported everything to Zhou Ming.

"The CDS contracts of the Chamber of Commerce are indeed very popular in the secondary market. The prices of the two batches we released before have been pushed up to an infinitely close to the original price. Now it is time to cash out." Tang Jingsheng said.

Zhou Ming is the mastermind behind all this. From the beginning, he repurchased CDS contracts from the National Insurance Group and other insurance companies, to the "accidental" leak of the news, and Tang Jingsheng's interview on TV said in the future that the Chamber of Commerce Platform would become a new trend, he was creating momentum for CDS contracts, making everyone believe that as long as you have this thing, you can make money while you are lying down.

The feedback from the market is very good, especially for the new chamber of commerce platforms. They do not understand Zhou Ming’s purpose, but see that as long as they initiate a repurchase of their CDS contracts, they can pay a lower premium. So these chamber of commerce platforms first launched a rush to buy.

The financial market believes in the herd effect very much. When most people see someone starting to buy and see the price of CDS contracts rising steadily, they will definitely be unable to withstand loneliness and join in, driving the price to continue to rise.

Not that no one can see that this is a bubble, but since the hype has begun and so many people have been involved, they can't stop.

In this large-scale hype bubble of CDS contracts, the Chinese Chamber of Commerce, as the most powerful chamber of commerce in the United States at this time, its CDS contract naturally became the most favored object for everyone. Especially at this time, Zhou Ming still held the most contracts and only put a little CDS contract from the Chinese Chamber of Commerce into the market from time to time, which pushed the contract price to an incredible level.

After hearing Tang Jingsheng's words, Zhou Ming nodded and told him: "It's indeed time now, but you have to be a little more like and need more money."
Chapter completed!