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Chapter 748: Chapter 649: Virtual Loan Agreement (Subscription Requested!)_1
He received an affirmative response and assessment from the Command Center.
With certainty in his heart, Tang Qing knew it was feasible. The only problem was the origin of such a large sum of money-where could he borrow so many U.S. dollars from?
The ’Tongtian’ system had been drained of its petty cash before, but, over the past two months, it had gradually refilled, resulting in a total sum of nearly one billion U.S. dollars amongst various currencies.
However, he could not directly use these dollars.
Because it would be illegal.
The U.S. dollars from the Myanmar Bank Group would be illegal too.
This was not about exchanging mall items and various robots, which could disappear. Instead, it was about circulating funds in the real world. Dealing with RMB was easier since ’Tongtian’ would not panic. Plus, it wouldn’t be linked back to ’Tongtian’.
But handling U.S. dollars was a different matter entirely.
To be clear.
Every single dollar transaction was completed within the Federal Reserve’s clearing system-it all stayed within the United States.
Meaning, the movements of these dollars were anything but secret. Anyone who wanted to track them could easily do so. There was no way that scatter accounts or diversifying through dozens of countries could launder them. As a banker, Tang Qing was well aware of this.
For an ordinary person, this wouldn’t be an issue.
Since banks usually wouldn’t bother to track your money.
But ’Tongtian’ and the ’Myanmar Bank Group’ were no small potatoes. They were already on the radars of many bankers, and every dollar flowing in their accounts was instantly tagged.
Using someone else’s clearing system, even attempting to cover tracks by transferring within said system, abnormal cash flows would still be scrutinized and could be traced back to Tang Qing.
So, if Tang Qing wanted to legally use large sums of U.S. dollars, he needed to find another method.
This was the disadvantage of using U.S. dollar settlements. If the other party could accept the Asia Dollar, Tang Qing could give any excuse for the source of his funds since without his permission, no one could trace the cash flow of the Asia Dollar.
After some thought.
Tang Qing decided to ask Uncle Two for help.
Through an intermediary loan process, Uncle Two could lend him the money, then borrow it from the Myanmar Bank Group. Though it felt a bit like he was making life unnecessarily difficult, this method was the most ’reasonable’.
He checked the time.
Uncle Two should be in bed now. He would speak to him tomorrow.
...
The next day.
It was Saturday.
Under Tang Qing’s lead, they once again toured the various scenic spots in Shanghai.
No doubt, it was another occasion where the local tyrant, Ayman, spent lavishly. Whenever he liked some souvenir, he bought it. Acceptance of the U.S. dollars varied amongst vendors, but most were delighted to see the greenback.
In the meantime, Tang Qing also expressed his willingness to invest.
He agreed to cover the remaining three hundred million U.S. dollars of investments.
This made Ayman exceedingly happy.
After some discussion.
In this oilfield, Tang Qing would take forty percent of the shares, while Ayman and his girlfriend’s brother would each take thirty percent. Though Tang Qing didn’t have an absolute controlling right, he did not mind.
Just like the real estate company he partnered with Chai Ren, the prime objective was to establish a connection. Apart from the oilfield, he was interested in other resources in the Sahara desert, which covers an area exceeding fifty thousand square kilometers.
This is equivalent to nearly one-seventeenth of the total area of Huaxia.
Even if it lacks mountains, rivers, and trees, there are bound to be valuable resources underneath.
Though formal exploration hadn’t begun yet.
But, under the satellite’s twenty-meter ’scanning’ capability, they had found numerous valuable assets last night. Compared to that, the oilfield was ’small change’. By handling it properly, he felt he could make a considerable fortune from it.
"Tang Qing, when will your investment fund arrive?" Ayman was curious.
Tang Qing calculated the time.
"Within three days." Tang Qing nodded.
"So fast?" Ayman was surprised.
"Is it?" Tang Qing touched his nose.
"Of course, my money still needs to be gathered, and I have to find a bank to mortgage some assets. They need to do an evaluation, and then there’s all the other messy stuff. The whole process has taken almost a month." Ayman complained, feeling self-conscious that, as a Saudi Prince, his investment sourcing didn’t, match Tang Qing’s speed.
Feeling hurt.
"..."
Tang Qing didn’t say anything.
This time he planned to make this loan through the Myanmar Bank Group. Naturally, the speed could be incredibly fast, and no one would question his procedures.
It’s great to have a bank!
Tang Qing thought proudly.
"Tang Qing, where do you live? Can I come and see it?" Ayman suddenly suggested. He was curious to see the lifestyle of Tang Qing, who was seemingly wealthier than him. More importantly, he wanted to boost his confidence.
"Sure, I can show you tonight." Since Ayman requested, Tang Qing couldn’t exactly decline. It was just a meal, after all.
On the way back in the afternoon.
Tang Qing contacted his Uncle Kai.
"Tangtang, what’s up." At this time, Tang Kai was inspecting a construction site in Xin’an City, accompanied by Wangsa, to keep an eye on the progress of their projects. It was rare for Tang Qing to call, but when he did, it was never about small matters.
"Uncle Kai, I need you to help me with a loan." Tang Qing stated his request.
"A loan? Out of money, are you? I’ve got some, how much do you need?" Tang Kai asked jokingly, feeling unprecedentedly wealthy.
"I need a loan of 300 million dollars. You don’t have that much in cash." Tang Qing explained.
"300 million dollars? What are you going to use it for?" Tang Kai asked in surprise.
Tang Qing said, "I met a Saudi Prince during my trip to Saudi. This time, we plan to obtain an oilfield together. The oilfield is located in Algeria and the evaluation is good. I plan to cooperate with him and need to invest 300 million dollars, but I don’t have that amount. And I suppose you don’t have that much either, do you?"
"I don’t have it. But I can exchange it with a friend. I will lend it to you." Tang Kai calculated, although the amount was substantial, it was still within his reach through interbank borrowing and it wouldn’t affect the company’s operation.
"No need, you should use your money for the development of the company. I have already contacted my friend. He will provide you with a dollar loan through the Myanmar Bank Group. This loan will be provided on a special loan basis with my domestic assets as collateral.
But none of these will be written into the contract, nor will it go through complex procedures. I have already arranged everything. Just letting you know, at the latest the amount will be credited by tomorrow afternoon. Then, you can transfer it to me."
On the other side, Tang Kai, initially puzzled, then slowly understood.
Tang Qing was avoiding complications.
It’s forbidden and regulated for domestic enterprises to mortgage as a whole to a foreign bank for cash. Otherwise, every domestic enterprise could casually obtain loans from abroad, and capital transfer would be too simple.
Every domestic business owner could illegally transfer assets in this manner.
That would be intolerable.
Therefore, Tang Qing opted for this ’virtual loan agreement’, an innovative mortgage loan mode. What shocked Tang Kai was... this worked?! The people in the Myanmar Bank Group must be fools, weren’t they?
There was nothing, just a verbal mortgage?
Not only that.
It was even for a whopping 300 million dollars.
Tang Kai voiced his doubts: "Tangtang, can this work? Will there be any trouble with your verbal mortgage? How about I directly mortgage my assets for the loan instead?"
Tang Qing advised, "Uncle Kai, it’s really not necessary. I know the Myanmar Asia Chamber of Commerce has the mortgage lending right, but there is only a foreign currency loan quota of 100 million dollars, the rest must be in the form of Asia Dollars, which you will definitely exchange for dollars with your friends.
That’s why I use this method, it’s faster, and Uncle Kai, you just need to spare a few moments over the next few days to sign a contract with the Myanmar Bank Group, others will handle the rest."
Although Tang Kai wondered why Tang Qing knew so much about the benefits offered by the Myanmar Asia Chamber of Commerce, he realized Tang Qing was making sense. It would indeed be troublesome for him to exchange dollars everywhere, instead of letting the Myanmar Bank Group handle it all at once.
"Alright then, I’ll check it out in a bit."
"Good."
