Chapter 417
[Level: 600 (92.26%)]
[Level: 600 (92.38%)]
0.12 percent. That was the amount that increased when I used the Mana contained in one A-class Teleportation insignia as XP. The increase was negligible, like adding a bucket of water to the ocean.
However, my new abilities to turn insignias into skills, absorb their Mana to use as level-up materials, and then fuse skills and traits together caused a great thrill in my heart as I had not expected this. My greatest achievement was gaining the ability to see through Mana!
Of course, being able to absorb Mana from an insignia alone didn’t have much meaning. The same went for when I went out of the Absolute Warzone as insignias were rare. In the Stage of Advent, the Awakened usually obtained items and skills when they received boxes.
Anyway, I hadn’t completely mastered the design of the Old One. I couldn’t figure out the principle that allowed for power to explode beyond the original Mana constraint when certain conditions were met, like traits Man Who Overcomes Adversity, Forerunner, and the Gifted. Nor did I find a way to unlock the locks on Power, and it seemed like it would take a long time for me to delve into that.
I was confident I wouldn’t get numb to the passing time, but it could be dangerous for Yeon-Hee. That was why I turned my attention to items for the next step. If only I could absorb the Mana imbued in items…
“We just took one step up on the stairs and that is it. Let’s move on to the next stage.”
“Where to?” she asked.
“Any moment when you were happy.”
***
Jonathan looked out the window, and Kim Cheong-Soo was having a meeting with key figures related to the trial there. It was a gathering that could lead to another scandal if it became known outside.
Judiciary officials, as well as political figures who had participated in attacking Jonathan during the hearing, were sweating nervously. They seemed to deeply regret having momentarily forgotten the physiology of politics and being swept away by mob psychology. Although they were smiling, their eyes were filled with the dim light of worry for their future.
That was when the guest Jonathan had been waiting for arrived. He was from the Federal Reserve Board (FED), an organization known to have strict independence from the government and was under Seon-Hu’s control.
As the person entrusted with the throne of the club, Jonathan couldn’t devote all his time to the protests. That was why Liam, the President of the FED, was one of the people he had to meet.
Liam looked at the secret meeting taking place in the room across from him and moved when Jonathan gestured.
Liam’s footsteps were heavy due to tension. Not only did the supernatural destructive power Jonathan showed at the hearing shock him, but he had also ascended to the position of running the club on his behalf. He was now the leader of the world’s shadow government.
“I heard you were attacked.”
Jonathan nodded in response. “Is everything manageable at the Federal Reserve Board?”
After answering affirmatively, Liam carefully took out the gift he had brought with him. It was an aluminum box. Jonathan could tell what was inside without having to open it, as there was a tag of the exchange glued on the box. It was an A-class defense item classified as an original and not a dupe.
Liam explained, “I wasn’t sure how to help, so I sought assistance from many people.”
Items like this were scattered throughout the Cat Food Warehouse, which had been stockpiled by Seon-Hu.
Nonetheless, Jonathan didn’t scold him for doing useless things or asking where the money came from to secure this.
Instead, Jonathan said, “Don’t be nervous. You won’t be able to talk to me properly in that state. Do you think you can do this? We can just talk normally like before, Liam.”
However, Liam’s tension didn’t disappear easily.
They heard Brian’s loud voice from the room across, and he was scolding the judiciary and administrative personnel. President Liam felt as if he was being reprimanded as well.
Also, a powerful figure, who appeared calm but was likely filled with rage inside, was sitting in front of him. His anger would have been aggravated by the attack from the aliens last night. The mansion of the King of Hell had burned down last night. Surprisingly, it was a place where the man had poured his affection into by even participating in the design during construction.
Liam couldn’t easily bring up the main purpose of his visit to Jonathan. As the heavy atmosphere started to press down on Liam’s shoulders, Jonathan spoke first.
“Is it about the standard interest?”
Liam said yes, then began speaking after taking a sip of water to wet his dry lips and throat. It was natural to consult on this matter as the president of the Federal Reserve, but for some reason, it required him to have more courage. This was because what he wanted to discuss went against the direction of the decision made at the last club meeting.
“In December 2015, the interest rate was raised by 0.25 percent for the first time since the 2008 financial crisis. Since then, it has gradually increased, but it has maintained a zero-interest rate from the Day of Advent.”
Jonathan nodded. It was Seon-Hu’s decision to pull the stagnant global stock market up after the Day of Advent. He drastically lowered interest rates while releasing the stocks held by their New York company and Gillian Investment Finance Group into the market.
The result had been reflected directly in the market, and the global stock market was now enjoying greater prosperity than ever. Well… \except for China, which had once tried to defy the order of the club.
“Are you saying that there is a bubble? Or that economic indicators have improved?” asked Jonathan.
Liam responded, “Both. However, I think this issue will be one of the main topics at next year’s club meeting, after this year.”
Although it was not yet at the level of mentioning the 2008 global economic crisis, it was an issue that had to be addressed.
Liam’s explanation then became lengthy. Interest rates determined by the U.S. Federal Reserve tended to lead the global economy. All countries over the world had to establish their monetary policy based on U.S. policy or adjust accordingly.
Jonathan checked the data brought by Liam. It had been a low-interest-rate era before the Day of Advent. After that day, the world had entered a zero-interest-rate era, causing private capital to flow into real estate as it had during the 2008 global economic crisis.
Given the reduced liquidity of stocks available for private purchase, the real estate market’s movement was indeed unusual. Hedge funds betting on a long-term crisis were already emerging.
Jonathan suddenly recalled the years he spent with Seon-Hu. They had predicted the global crisis in advance and steadily grew their capital through them. The exhilaration had dominated his body whenever they placed bets one after another.
He suddenly missed those years, when he was thirsty for challenges. The next step, the next achievement, was obvious back then. However, he now had to oversee the commotion as he had reached the top of the stairs.
After a while, Jonathan snapped out of his old memories and turned his attention to Korea. Korea was Seon-Hu’s homeland where his parents still resided, so he couldn’t help but keep an eye on it from time to time.
Of course, Liam couldn’t understand why Jonathan suddenly stopped the conversation and started examining the situation in a small country like Korea.
As expected…
Korea’s stock and real estate markets were both at their peak. Korean stocks were less liquid in the market, scattered throughout Seon-Hu’s multiple pockets, such as the Jeonil Group, their New York company, and the Gillian Group. This was not the only reason, but South Korea had consistently been like this as they used real estate rather than the stock market to increase wealth.
With the Federal Reserve maintaining zero interest rates, the central bank of South Korea was also operating at low-interest rates. As a result, Koreans didn’t feel burdened when getting loans, and they were spending a ton of money on real estate. The term ‘gap investment’ spread like a trend, and people who bought dozens or even hundreds of apartments were hailed as investment geniuses.
Thus, if the U.S. Federal Reserve started to raise interest rates, then this would have a negative impact on South Korea. The central bank of South Korea would have no choice but to raise interest rates, and the banks under its jurisdiction would naturally have to follow suit.
This meant an increase in interest rates by the U.S. Federal Reserves would definitely burden the Korean public who had purchased real estate with loans. Factors such as the increase in interest rates, South Korea’s economic ecosystem, and their real estate policy could overlap and create a tipping point, leading to a massive sell-off in Korean real estate and causing the real estate bubble to burst.
But the Korean government should deal with that.
Jonathan finally made his decision. While it was undeniable that South Korea was the homeland of Seon-Hu, the global economic flow should not be swayed by one country.
Seon-Hu would have made the same decision after achieving his own goals. It was time to raise interest rates. Therefore, it was necessary to burst the growing bubble and dispel concerns about inflation. Once the process was over, there would come a time when it would have to be lowered again to stimulate the economy…
***
When Jonathan and Chairman Liam’s private meeting ended, the conference that Kim Cheong-Soo had been conducting in the room across from had already finished as well.
Jonathan received a report on the secret agreement that Kim Cheong-Soo had confirmed during the meeting. Then, Jonathan explained the future interest rate policy to him with the command to readjust the portfolio of Jonathan Group according to the gradually increasing interest rates.
“I will inform the club members, including the Gillians, about this. Also, have you checked the blueprint?”
He was referring to the labyrinth bunker. Although Jonathan didn’t like the design of the new residence that was formulated with an alien invasion in mind, it was one of the things that had to be prepared like raising interest rates. Jonathan nodded briefly, so Kim Cheong-Soo left.
Jonathan took out a bottle of whiskey as he was finally alone. It was the same brand of whiskey he had kept for decades, anticipating the day he would meet with Seon-Hu in the Stage of Advent. Even as he poured the alcohol, Jonathan’s Sense was raised.
Come and fight me if you want.
He couldn’t stop thinking about the elf, who had just investigated him and fled.
The notification sound of an incoming video call almost pierced his eardrums like a drill as his Sense was raised. His Sense was so acute that he could feel the subtle vibrations of the computer speaker.
「Caller: Mick」
It was Mick’s account that Jonathan had just saved last week when Seon-Hu had entrusted the club’s throne. When he picked up the call, a desperate face and an equally urgent voice came out.
“A transcendent has attacked!”
The monitor was showing the interior of the Cat Food Warehouse.
Transcendent?
The video indeed failed to capture the movement of the transcendent properly. At first, only the traces it created at an incredible speed were visible. But when Jonathan focused his Sense a little more on his vision, he caught something for a brief second with his bloodshot eyes.
Sun?
The one who was mistaken for the attacking transcendent was undoubtedly Seon-Hu. He appeared as desperate as Mick, who had called Jonathan, and Seon-Hu was rummaging through the warehouse items.
“It’s not an attack. It’s Odin!”
Something had definitely happened to Seon-Hu. The moment the traces of Seon-Hu disappeared, Jonathan urgently shouted at the monitor, “Where did he go? Hurry up!”
Then the screen showing the items switched to the side. There, the traces created by Seon-Hu’s movements were stirring everywhere. It was an area where mana stones were stored.