In just one month, the Japanese yen exchange rate soared to a level of 200 to 1. This meant that the yen had appreciated unilaterally by over 20%.
This was not like stocks; generally, a fluctuation of 1% is already considered significant. A 20% rise was a staggering number.
However, because the news was announced on a Sunday, leveraging operations were impossible. The trading houses were not foolish; they wouldn't let anyone take advantage of the situation.
If anyone was bullish on the dollar, congratulations to them. For those who failed to deliver on time, opening the market would lead to bankruptcy.
Well, such fools were not common. If by chance there were one or two, they would be rare resources, and it would be a shame if they perished.
As for the major financial groups, even if you knew the exact timing, you couldn't just act recklessly. If you dared to use leverage recklessly, you would face retribution later on.
In fact, they ought to learn from William White, who simply took a girl out to sea.
Without discussing how these conglomerates made money, a group of American bigwigs turned around and were shocked to find that the Japanese had no issues at all.
In fact, during this past month, the U.S. trade deficit and fiscal deficit not only did not decrease but also showed signs of continual expansion.
William White believed that regardless of who devised this strategy, they surely had ulterior motives, and only the greedy conglomerates would benefit from it.
Overnight, the Japanese discovered they suddenly had money. Anything purchased from America was roughly at an 80% discount. Even that expensive golf card seemed less unattainable.
If that were all, they probably wouldn't be so indulgent. Overnight, there seemed to be a lot more small change floating around the banking system.
Like many countries, it was the few who first sensed something was amiss. Some rejoiced while others worried, prompting those who were anxious to decide to share some risks.
Naturally, the U.S. was the prime target -- or perhaps the only target -- because only assets priced in dollars were discounted, or currencies pegged to the dollar were discounted.
Suddenly, there were many Asian faces in suits around, characterized by their wealth but naivety. These folks wanted to take home whatever they saw.
...
"William, don't you think this policy is a bit off?"
"Ha! What's wrong with it? Since the Japanese have money, let them buy; our homes won't sell themselves, will they?"
"You cannot be unaware that the current appreciation has only just begun."
"So it follows that these folks are from the top tier, the pinnacle of the pyramid. I guarantee you will see more in the future."
Bush Jr. didn't quite comprehend William White's nonchalance.
"Seeing you so cheerful, I bet Lanai Island must be raking in the dough?"
"Pfft, what's that compared to what's coming? Once my auction house is built, it will have a special event just for the Japanese. They're so rich; they should at least share a bit with me, ha ha -- good pals split the pot!"
"You're out of your mind. How many guests would that tiny island have?"
"Pfft, didn't you see how many Japanese came? I tell you, there'll be even more -- those from Hong Kong, Taiwan, and Korea -- all rich folks. But right now, the richest definitely are the Japanese."
Bush Jr. expressed his contempt for someone's boundless greed. Naturally, William White laughed at him.
...
With the situation now settled, William White was off to Houston to see his daughter. The second round of bickering between America and Japan had begun.
"Sweetheart, are you done with your work?"
"Yeah, I'm exhausted. I need to rest. How about our daughter?"
"She just ate and went back to sleep."
"I'm going to check on her."
His chubby daughter slept deeply, and her long eyelashes were beautiful. William White wanted to kiss her but feared waking her.
"Should we go out?"
"Sure."
"Suzuki, how about we name our daughter Athena?"
"Sure, I'm okay with that."
"There are some legal documents for you to look over later; some things are for you and our daughter."
"I--I don't want it."
"Don't be silly, she's my daughter, so she deserves the best. Sigh, I owe you that much."
"Don't say that; I'm willing to do it."
"Alright, stop overthinking it. When our daughter grows up, you still need to help me."
"Yeah, okay."
Having gotten accustomed to this girl's service, it was hard to adjust to someone else. Sophie was just a kid; she wouldn't know how to take care of him.
William White had a daughter now, which was no secret among the elite. After all, everyone did this; it was just that having a child before marriage required some repentance.
Well, God said nothing, appearing quite at a loss. However, His representative, the priest, claimed God forgave him. William White was delighted and decided to spend another million dollars to repair the church.
*****
https://www.patreon.com/Sayonara816.