Dress Rehearsal (3)
As with everything, it all started from a small crack. And when exactly was that?...
It began roughly with the pound short-selling in 1992.
"It's fine. France's economy is solidly built, unlike those British bastards."
At first, they boasted like that, raising interest rates and pumping money to defend the franc's value. And they weren't entirely wrong. The hedge funds that had tossed out shorts on a whim took a bloody nose and backed off. Great France seemed fine, unlike Britain. They were neighbors about to become one community under the name of the European Union, but... well, watching the Brits get humiliated is always fun, isn't it?
"Ahaha! See? We can't let those American bastards fleece our great France. Hmm, but why is CL in such a mess? Those politicians..."
And around then, Crédit Lyonnais's scandals started bubbling up. From the usual corruption rumors to tales of bank employees raking in fortunes through insider trading. When the French state-owned bank suddenly announced it was diving into airlines and the film industry, even the optimists started whispering.
"...Is it okay for a bank to act like that? I mean, a private bank, sure, but a state-owned one making such bold investments?"
But it was just grumbling—no one could do anything about it. On the surface, profits were rolling in, and gamblers always think they're savvy investors until they lose their shirts.
. . .
But as always, all good things come to an end. When they finally pried open the lid they'd been hiding, an enormous corruption scandal reeked like rotten meat.
"Uh...?"
Something was wrong. The French people sensed it instinctively.
-Hoo.
I could see the white breath escaping my mouth. The steam condensed instantly in the cold air, reflecting the light. This winter was cold, just like every other.
I hated the cold but always dressed light, so winter was truly the worst season for me.
"You know, that's not steam—it's frost."
I muttered it on a whim. I wasn't really expecting a reply, but Seo Ji-yeon answered dutifully.
"Ah, right. We learned that in science class. Clouds and frost are actually liquid, not gas... Gas is invisible to begin with."
"Exactly. It's the same with other things. Something that looks impressive might be nothing up close, or vice versa."
Rainbows are just light split by water droplets, and clouds taste like water. Someone who once dreamed of chasing rainbows and flying through the sky eventually realizes it's meaningless. And then they start obsessing over how awesome it'd be to drop a bomb from the heavens.
Overlooking the fact that even that might be pointless.
"...I'm not sure what you're getting at. That not everything you see is the whole world... something like that?"
I forced shut my sentimental heart and pondered my answer. Trauma from my childhood aside, money and power were comforts enough for my soul. I couldn't bring back my dead parents anyway. You can't catch a rainbow no matter how hard you try, right?
"Hmm... Just that our senses and intuition aren't as reliable as we think. Ji-yeon, you know relying on gut feelings in investing leads to stupid outcomes. Like this time."
Crédit Lyonnais thought it'd be fine and overinvested, only to get smashed by the tide of the era. Seo Ji-yeon, who'd been diligently picking up my plans yesterday, finally nodded.
"Aha, yeah. Everyone thought if it worked so far, it'd keep working. In a coin-flip duel, even if the odds are fifty-fifty, one out of 1,024 wins ten in a row."
And Earth has billions of people.
"Right. You get it. That's why gut traders don't last. But if you avoid all risk, you're just marking time at best."
"Hmm. True. But Crédit Lyonnais seems overly aggressive even to me. Smart adults couldn't have missed it..."
-Pfft.
I chuckled. My sharp but still innocent young secretary didn't grasp how desperate people could be.
"Ji-yeon. The people who make it this far aren't the ones who just won ten duels. When they think they're taking a big hit, they figure..."
"How?"
"'I'll recoup it later.'"
"..."
Seo Ji-yeon gaped in awe at human folly, but I could relate. Wasn't I the same? Objectively, my success odds from foreknowledge were sky-high, but never 100%. Still, I'd bet my life on it. I'd climbed onto this era's whirlwind, praying for eventual safe harbor. Ironic, but true. To gain peace, you prepare for war—and I wanted a long peace.
Seo Ji-yeon was still much shorter than me, so she fidgeted with her mittened hands and looked up intently.
"So, even you, miss?"
"...Yeah."
I should've confidently said no, but I just nodded. Then added an excuse.
"Still, my odds are pretty good. I've been right almost every time so far... and even if I fail, I've set the board so I won't collapse. Not like the old days—one or two flops won't ruin me now."
"Hmm. Then why do you always look so worn out? You said it's okay to fail now."
She stared at me. The words slipped out.
"...Don't talk like you know."
Uncomfortable, but she grabbed me.
-Thud.
"I don't really know what you're thinking, miss. What worries you, what torments you. That's why I want to know. I want to help."
"Thanks, but it's not something you can fix."
The girl beamed.
"But isn't that true for everyone? Most people don't get what a teenage girl is thinking."
True. Puberty, huh. Maybe. In my past life, I wouldn't have agonized—I'd have just done it.
"...Guess I'm a bit sorry. To people. Hmm, maybe Joo-eun rubbed off on me."
Complex feelings swirled. Joy and thrill from success topped the list, then guilt and failure anxiety.
"Dunno. I was on top of the world until morning."
I'd always seen guilt as a luxury. Still did. But now I was too rich for it not to afford a little. If my mood was the judge, and it felt guilty, I had to resolve it. Money was just one joy factor—I wasn't hoarding like a miser.
"Yeah, very teenage girl worries."
"...I'd prefer you not dismiss it as puberty. Your life hangs on these worries, you know?"
I scowled. Treating me like a kid—if we weren't close, I'd have scolded her.
"Ahahat! That was so puberty just now. Everyone says that—their own worries feel world-ending. You said it yourself, miss... it might be nothing."
On tiptoes, she leaned in close, eyes sparkling, and whispered,
"Just—do it. Whatever you're thinking, whatever you're agonizing over... why not try?"
My face flushed a bit.
"Why... say it like that? How do you know what I'll do?"
Seo Ji-yeon grinned brightly.
"I don't. That's why—try it."
It'd definitely be fun.
The next morning, I woke refreshed and gazed at the clear sky. Beside me, Seo Ji-yeon, breathing raggedly, was sorting her limp body.
"Hngh... Miss, you're too much. You're all perky while I'm wrecked..."
"Hmph, you told me to do whatever."
Nothing major—she'd caught a light cold helping me last night and overdid it. Who told her to stay out so long in winter? Still, there was some gain.
[Report on French Real Estate Crash and Crédit Lyonnais Losses]
Soon, Crédit Lyonnais would dump its massive loss-making real estate—at fire-sale prices. And property values always rebound eventually... Profit. Dozens of plans flickered through my mind.
'Ah... I shouldn't.'
French real estate was clearly in recession now—and would be for a while, without intervention.
'But can't be helped. France is at fault for dangling such tasty bait...'
I calmed my excited heart and slowly formulated a new plan.