Chapter 153: Another Change

“Mr. President, our troubles are far from over…”

The president’s chief of staff glanced awkwardly at the report in his hands. “The victorious alliance refuses to honor our war bonds, citing insufficient funds. The defeated nations say they need time—possibly several months.”

The president’s stern expression softened slightly. This was good news to him. “Several months? That’s not a problem, as long as they’re willing to pay.”

But the chief of staff wasn’t as optimistic. He forced a faint smile. “However, intelligence reports indicate that some key defeated countries are printing more currency to cope with their financial troubles.”

The president’s face grew serious again, tinged with bitterness. He fully understood the implications. No one knew better than him the consequences of currency inflation. Clearly, the defeated nations intended to default—but in a different way than the victors.

Suppose the Baylor Federation officially bought 10 billion in defeated nations’ bonds. Before, their currency was equivalent to the Federation’s Sol. After the war, the defeated countries would honor those bonds at the issued rate—for example, redeeming 20 billion Federation Sol or an equivalent amount in their currency.

But with the defeated countries printing more money, their currency’s value would plummet in the international market. What once was roughly one-to-one with the Federation Sol could become 100-to-1 or even 1,000-to-1 due to inflation and negative news.

When their currency became worthless, redeeming 10 billion in war bonds might only be worth under one million Federation Sol.

The victors could harshly refuse payment, and the defeated had their own ways to minimize losses. This gave the president and his cabinet a severe headache.

Worse, they learned that some victorious nations had already honored parts of their bonds. Small countries that declared positions but weren’t on the front lines received payment first.

If no one had redeemed bonds, the Federation could claim it was due to the victors’ internal situation—that they couldn’t muster enough funds quickly, especially given the enormous war compensation and destroyed cities.

But partial redemption made the Baylor Federation’s international position awkward, giving the impression they were being singled out.

This comparison could quickly worsen domestic conditions. Even more dangerously, all this stemmed from the Conservative Party’s long-standing isolationist policies. If people blamed the president’s policies for the crisis, the party and cabinet would face immense pressure.

What was once considered the best policy for the Federation’s international stance could instantly become this administration’s greatest failure.

The people, enjoying peace and stability, wouldn’t sympathize with the cabinet’s efforts. They’d likely turn and blame the cabinet for the country’s downward spiral. The unemployed would say the isolationist policy turned the Federation into an island, causing the problems.

Public opinion was never stable, always shifting to fit selfish and narrow demands.

Thinking of the countless protests outside the presidential palace, the president’s head ached. “Don’t let this news leak for now. Keep our diplomats negotiating—even partial commitments will do.”

The foreign minister cleared his throat. The president looked at him displeased. Smiling bitterly, the minister asked, “Mr. President, what stance should we take to persuade them?”

The president’s displeasure turned into pain. Even he doubted the isolationist policy now. It had seemed effective years ago, but now he wasn’t sure.

The small meeting inside the presidential palace soon leaked. In the Baylor Federation, the higher the secret, the less secret it remained—common and realistic.

Behind every official stood financial magnates or capitalists sometimes at odds with the president’s own backers. Their rise was partly thanks to the president, but mostly due to agreements among powerful financial groups.

They helped the president win the election and naturally pushed their agents into the cabinet.

They had already taken the best posts; no one opposed giving ministers or deputies their share.

No secret could be kept in the cabinet. Soon the major financial groups recognized the problems but tactfully delayed action, coordinating to adjust their industrial structures.

No one could act prematurely; many groups were still realigning and risked failure. They needed time to shed unnecessary assets and await the signal.

On Saturday afternoon, Lynch was to attend a small consultation meeting hosted by the Sabin City Hall.

The city invited local elites to discuss solutions and the city’s future.

This included Lynch and bank employees like George. Following the Baylor Federation Treasury’s directive, the six major banks had begun piloting credit loans to address the situation.

People received credit scores based on social insurance contributions, past behavior, and current assets, allowing them to get unsecured loans from banks.

This policy aimed to help unemployed or struggling families with good past records and some savings.

Homeless or destitute individuals were excluded.

Before the meeting, Lynch chatted about his club. Kane had found a professional coaching team, and they were recruiting players, reigniting some interest.

People liked seeing thriving flowers or buds about to bloom, but few cared about the steps required for a seed to blossom. They only wanted the results without responsibility—rugby was no different.

People wanted a professional sports team—rugby, baseball, or others—to cheer for and celebrate.

Previously unwilling to shoulder responsibility, now they could enjoy the success because someone else bore the burden.

While discussing whether Sabin’s club might join the pro league next year, George approached the group, greeted everyone, and looked at Lynch. “Want a smoke?”

Lynch nodded. “Of course…” He apologized to the group and went outside with George to a quiet corner to smoke.

This wasn’t a meaningless meeting. Both lit cigarettes. George glanced around, then lowered his voice. “If you need a loan, better get it before October. After that, banks will raise risk and approval thresholds—it won’t be easy.”

Banks were the most sensitive to policy, national, and international shifts. They had multiple research units focused on these issues.

Once the cabinet news broke, banks reached a grim conclusion: after Q3, they should minimize loan approvals and reduce loan amounts to protect assets.

George had also been notified separately: starting Q4, his approval authority would be monitored.

Not because the bank distrusted him, but because he had secured this year’s performance award early. If he made mistakes, they wanted corrections quickly. Also, critics existed, so for fairness, from Q4 they would review his approvals.

This would last until he was promoted or the situation improved. No changes were expected soon.

“These past months…” Lynch took a drag.

George shook his head. “It’s all reported to headquarters and branches. It’s history. If you have needs, best solve them now while I still have some influence. Later, I won’t be able to help.”

He sounded self-deprecating but realistic. In just over two months, his rise to top performer sparked suspicions of misconduct.

Even the headquarters board mentioned him by name. Some suggested fast-tracking him to local bank president after brief central experience—a move saving years of career time and networking.

It was natural others envied him.

Some people are just like that—muddy themselves but can’t stand others succeeding.