[Chapter 772: Desperately Lending Money to the Whole World]
There was a saying in America that meant death and taxes were the only certainties in life.
Although the IRS was quite powerful, there were still some matters they couldn't touch. If someone really focused on auditing you, forget about multi-million dollar trust funds; even selling a pair of shoes without reporting it was a non-starter in the U.S.
This presented a paradox: what was up with all the trust companies that William White had set up? Selling a pair of shoes under the table was impossible because once that cow was raised, it had already entered the tax system.
If you wanted to avoid paying taxes, it became quite challenging. From raising the cattle to slaughtering, then to processing the leather, and finally to production in the shoe factories and retail stores -- there was no way to hide the whole supply chain. If you were worried about overpaying taxes, you could spend fervently, preferably using borrowed money, which would help you minimize your tax payments.
As for William White, his money had never entered the American financial system. That meant, simply put, that cow didn't exist.
Now, some individuals took a keen interest in this situation; anyone would feel furious about it. The U.S. did tax globally, and at some point, it seemed likely that William White would find himself in trouble.
The so-called foundation and backdrop were something that well-off families had in abundance; that was a consensus in high society. As for the alleged social responsibility, first, you had to have money to talk about such responsibilities.
"Sir, Sumitomo has once again raised your credit loan. Their credit department head is very concerned about us paying off early," Filson reported.
"Geez, Filson, what's the situation with the banks? How come they have so much money to throw around?" William White appeared somewhat confused, hadn't it just been said that they had lost two decades? This had practically become common knowledge over time.
How had things turned around so quickly? It had been just a few years.
"Sir, we checked their public information. The banks do have high reserves, but they don't have any intention of lending domestically. These export-oriented companies are very cautious with their investments. They not only lack the intention to increase leverage but are actively looking to decrease it. As for other enterprises, no bank is willing to give out loans, even with real estate and land as collateral."
"Damn, with how confident the banks are in me, they're not afraid I'll take a tumble. Well, let's cut back on domestic loans for now."
William White's logic was simple: since they were willing to lend him money, he'd take it. Didn't someone say that the more funds you could borrow, the more reliable your credit was? It was similar to a credit card; you had to keep spending and borrowing for them to increase your limits.
"By the way, Filson, I'll be heading to Asia soon. Come with me."
"Sure, sir."
"Oh, and now there's an airport in the South Bay, no need to take a detour through Hong Kong anymore."
"Sir, you're still going to Hong Kong?"
"Of course! I'll have the Athena head out early. The airport in Hong Kong is terrifying; you won't like it."
Filson had no words to respond to his boss's caution. Of course, the plane reserved for the boss was indeed quite large, and that was undeniable.
...
"President, they have agreed; no early repayments will be made."
"Great, Tanaka, you've done a good job here in America."
"President, are we under a lot of loan pressure?"
"Ah, not really. We're just lacking long-term stable investments; China has issued far too little in bonds this time -- only one billion dollars. As for U.S. bonds, we can't invest too much. Diversification is what Chairman meant. Can't put all our eggs in one basket."
"I understand, President. The high-tech companies here in the U.S. are indeed growing quickly."
"Yeah, keep it up. There's no way to lend at home anymore."
The situation with Sumitomo was not an isolated case. A multitude of banks faced similar issues.
Banks were actually miffed about having too much money on hand; such bizarre occurrences were unique to the world.
...
"Yuto, what's taking so long? Move faster; the boss is arriving in a couple of days, don't let him see the dirty streets."
"I'll speed it up right away."
"By the way, investigate the situation in Osaka; sales growth is too slow."
"Understood, I'm sorry for the concern."
Fujita had been in high spirits lately. With the focus of the Viking Comics shifting towards Japan, his standing in the company was steadily rising.
He was different from others in that he found William White, the American boss, to be quite easy to talk to once you got to know him; there wasn't really anything to be afraid of, as long as he completed what the boss had asked.
However, there was a prerequisite: you had to get the job done.
Nowadays, an odd phenomenon occurred in Japan; many so-called international companies preferred to hire foreigners. But at Viking Comics, things were different.
Not only did they value capability, but also seniority. It was rather amusing how this American comic company was increasingly resembling a traditional Japanese company.
American comics simply couldn't compete with Japan's. Besides, Japan had practically no restrictions.
On this point, the U.S. was indeed quite pretentious. It was hard to grasp how they perceived those subtle hints.
...
"Daddy, Daddy, I want to read English version of the comic; I don't want the Japanese one."
"Athena, the standards in the U.S. and Japan are different. The English version is called the international edition while this is the Japanese version."
"Standards? Daddy, what's that?"
"It means that this comic might give some people unhealthy thoughts. Look, even though it's for adults, this character looks way too young. It's not permissible here in the U.S."
"Really? I don't see anything wrong with it."
"Hahaha, you're an angel, so your eyes are very pure. Actually, these reviews are practically pointless. Your heart is pure, and you can see anything cleanly. Athena, isn't the Japanese language simple? Are you having trouble?"
"No, they just write too much."
William White sighed; the comics from Japan and America were completely different styles. By later years, American comics had practically turned into illustrated novels. In contrast, Japanese comics seemed to want to cram in more visual sound elements.
Seeing the father and daughter exchanging fond glances, Suzuki couldn't help but roll her eyes. Sneaking a look at comics was one thing, but with a dad like him around, she simply couldn't get taught well.
*****
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