As everyone knows, a central bank is very different from an ordinary bank.
The most famous taphor is “the bank of banks.” A central bank lends money to banks.
Isn’t that obvious?
Money doesn’t just pop out of thin air. Soone who can print money has to actually print it and then lend it out at a fixed interest rate—only then does money exist in the market.
A central bank lends to comrcial banks at a certain interest rate, and this is called the base interest rate. And of course... in order to make a profit, the banks lend at higher rates.
This is why even a small raise in the base interest rate can shake the economy.
That much is basic economic knowledge.
One of the key traits of a central bank is that it’s independent from the executive branch and seeks sustainable economic developnt.
If the governnt could freely print money and decide currency policies, then—because democratic governnts have limited terms—they could flood the market with money without caring about the consequences. That’s why most central banks also hold the right to issue currency.
But that brings up this line of thought:
–Isn’t it kind of weird that Kim Hae-ik, making a rare appearance again, used to skip over the Bank of Korea and pretty much run the Korean economy by himself back in the day? Is it really okay for a vice minister-level official, part of the executive branch, to have that much power?
Hmm.
...Actually, no. It’s not okay.
That’s why Mr. Kim Hae-ik is now just living as a university professor, but he wasn’t particularly dissatisfied with the situation. The fact that a single individual can’t control the economy at will felt like a sign that Korea’s economy had normalized.
At least, that’s how it looked last year.
Principles aren’t always upheld, but that’s only because those situations shouldn’t exist in the first place.
Well... and it’s not like Korea is alone in this. The UK’s central bank, the Bank of England, is basically a governnt subsidiary. It’ll take at least five years before it gains any real independence.
There’s a reason the Bank of England is acting so irrationally in the pound short-selling crisis.
[UK Gives Up on Barings Bank! Decides to Spend the $200 Million Bailout on Defending the Pound, Major Banks in Uproar...]
[British Pri Minister Strongly Asserts Will to Defend ERM. “Invaders Will Be Punished Accordingly.”]
[Barings Bank, With 230 Years of History, Fades into the Pages of History.]
[What Is the Berlin Bank That Acquired Barings? German Tabloids Call It “The Witch’s Sche,” Express Deep Distrust...]
Well, fine by .
I can just have both.
***
Unfortunately, I didn’t get to personally witness the historic acquisition of Barings Bank.
But I did have Seon-jun oppa take a picture for .
I laughed as I clipped the photo—taken in the City of London—into my scrapbook.
“Wow, Oppa, must feel good? Getting to be part of sothing this big. I bet your dad’s happy too, huh?”
“...My dad? Well... yeah, I guess he was happy.”
Yoo Seon-jun trailed off. I’d kept most of the details hidden anyway, but it didn’t seem like Yoo Jin-seok was all that interested to begin with. The gloom hanging around because of his family situation wasn’t very pleasant to watch.
I climbed onto my cousin’s back and patted his shoulder like I was cheering him up.
“Co on, hang in there. We’ve still got tons of work left, so refresh yourself with a look at your cute little sister.”
He’d flown all the way back to Korea and worked himself to the bone, so Seon-jun was basically a pile of mush now.
Funny thing is, this guy’s surprisingly competent... which ans I have no choice but to pile even more work on him.
“Hey, girls shouldn’t say stuff like that so casually. And you being on my back ans I can’t even see you.”
“Oh my, is that your kink? A back hug isn’t enough, huh. Fine, I’ll be generous.”
I grinned playfully, spun around, and gave my cousin a direct hug while looking up into his face.
-squeeze–
“How’s that?”
“Piss off.”
He shoved my shoulder and grimaced.
“Ahaha, you’re blushing. Haven’t hugged many girls before? Or were you one of those goody-two-shoes back in school?”
Teasing people is seriously the best. I giggled, twirled in my school skirt, and spun around. Definitely a fancy uniform—no surprise, considering it’s a fancy school.
Seon-jun was gnawing on a snack like a man craving a smoke.
“Phew... I swear, you’re worse for my health than cigarettes.”
“Oh co on, that can’t be right. They say looking at pretty girls adds years to your life.”
“...Every ti you say dumb shit like that, it ans you’re plotting sothing. So what is it this ti?”
“Hmm... it’s a secret.”
Shh.
I raised my index finger to my lips and gave him a sly smile.
Seon-jun, utterly ignoring his pretty, adorable little cousin, continued thinking.
“Right. Barings Bank... Berlin Bank... pound short-selling... Hmm, what would I do if I wanted to push this further?”
“Hey! A lady’s secrets aren’t ant to be pried into! Bad!”
I puffed up my cheeks and struck a cartoon-character pose. Seon-jun waved off.
“Goddammit. If soone told you were a witch wearing human skin, I’d believe it. Stop smiling like that when you talk—it's creepy.”
“Ehh...”
Why do you say things like that?
-ting!–
At that mont, a coin flipped in the air. Seon-jun had just sent one of the Bank of Korea’s commorative coins on a gyroscope ride with no safety belt.
Heads.
“What are you doing?”
I tilted my head. Seon-jun answered casually.
“Thinking. If I had to place a single bet, just once, where would I bet it...”
“I told you, I don’t do gambling.”
“Yeah, I know... That’s the thing. What looks like extre gambling to ... ends up being just another investnt to you.”
His voice dropped with aning, and then he turned to and asked:
“If I were on the brink of death and had only one chance left to gamble... I think I’d place that bet in Korea.”
I raised just the corners of my lips, expressionless, and asked:
“Why?”
“Because the audience I care about most—the ones watching —are all here. Unless you’ve got so deep emotional attachnt to another country... your biggest bet would probably involve Korea.”
“Hm. Interesting perspective. Not hate, but affection?”
“Well yeah, obviously. You blow up the board once and everything goes to hell...”
-swipe–
Seon-jun picked up the coin and rubbed the notches along the edge. They were worn down from frequent flipping.
“But you know what’s weird? Looking at your behavior... you really like getting attention. If you’d acquired Barings Bank in person, I bet you’d be going around everywhere enjoying that nasty habit of ranking people.”
“That’s only because I’m still underage and it’s hard for to go abroad. Not to ntion, the pound short-selling isn’t even done yet.”
“True enough. But then why don’t you act like that here in Korea?”
“What are you talking about?”
I stepped forward, tilting my head innocently.
“Didn’t you say you wanted to beco chairman of Daehwa Group? Then you should be focusing on Korea, not abroad. You know just as well as I do that no matter how big a foreign company gets, they can’t invest properly in our country.”
Mm, true. I an, the whole reason Seon-jun offered to help in the first place was because he hated family infighting and wanted to back instead.
“And?”
He continued.
“You’re not the type to break promises you made to family. And you’re definitely not soone who’d look away from a juicy piece of bait like becoming chairman of Daehwa Group. Like I said, if you and I could each pick only one thing, we’d both choose Daehwa over so Arican or British bank.”
“Ahaha, you really think you can judge people that easily? What if I’m not like that?”
“If a gambler reads the cards wrong, he deserves to die.”
“....”
“Anyway, at first I was blinded by the sheer scale of the money, but now that I think about it... this stuff you’re doing feels like a side job. So I took a mont to wonder. Why is she working abroad to build up money, instead of doing business in Korea? It’s not like she doesn’t understand the nature of money and power. And then it hit —there is a move.”
I smiled faintly.
“Now I’m curious. What move do you think I’m making?”
Seon-jun looked at with sharp eyes.
“You’re not planning to stop at Daehwa Group, are you?”
Ah, seriously.
I really like my cousin. In my past life, I have no idea how he managed to get taken down so stupidly.
“The sches you’re using to get your hands on Daehwa Group... they’re not so ordinary acquisition or succession process. You’re probably planning to use circular stock ownership. And in doing so, you’ll flip the very foundation of Korea’s economic structure.”
It’s simple.
Even with all this money and effort, I still can’t take over Daehwa Group.
Just like even the President of the United States can’t interfere with a Korean election, Daehwa is no different.
Daehwa isn’t the biggest company in the world, but it’s also not so no-na small business. It’s massive. No outsider could ever acquire it through conventional ans.
But if I can’t eat it through conventional ans, I just need to make Korea unconventional.
If I can’t attack Korea from abroad, I just need to change the rules so I can.
And that... explains why I’m building up influence overseas. Though, thankfully, he’s only half right.
“Like you’re doing right now?”
“...Yeah. The fact that you declared war on the British governnt ans... you could do the sa in Korea. I have no clue how you’d do it, but...”
Seon-jun said:
If he had to make one last gamble in life... he’d bet that I’d trigger a financial crisis in Korea.
He didn’t know the thod or the odds. That’s why it’s a gamble.
But for ... as he said, it’s not.
To , it’s inevitable.
...
I get most of it, but there’s one thing I don’t understand. Why did this topic co up now?
What does stirring things up in the UK have to do with waiting for the IMF in Korea?
“But what does that have to do with Barings Bank or the pound short-selling?”
“I dunno. Like I said—I don’t know how you’ll do it, but I just feel like [N O V E L I G H T] you will. Poker players don’t read the cards. They read faces.”
...Am I that bad at poker face? Everyone in this family acts like they’ve got telepathy or sothing.
I shook my head. I should really start wearing a mask or sothing.
“Since I gave you sothing, now it’s your turn to give sothing. So what are you planning to do with that bank?”
“Hmm... well, first, I should lend a ton of dollars to Korean companies, right?”
“...?”
“You know, right? Asia’s the hot market these days.”
Just because.
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