Chapter 67
Chapter 67
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Translator: MadScientist
Chapter: 67
Chapter Title: Soviet Collapse (4)
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Nomenklatura (Номенклату́ра).
Such a term exists.
The most straightforward translation would be... Communist aristocracy, I suppose.
"Phew... This is top-quality stuff. We've got an esteemed guest."
Defying the KGB agent's prejudices, the plump 'uncle' raised the corners of his mouth in delight as he gazed at the pile of gold bars.
'Well, a colonel wouldn't be in the field anyway.'
I waved off the tense bodyguards and stepped forward with a bright smile.
"What do you think?"
The colonel nodded vigorously and burst into laughter.
"Excellent! As expected, you capitalists know your stuff!"
"Ahaha, of course. Even the finest gears need oil to turn, right? We're not so heartless as to start business in Moscow without showing some sincerity."
"Mm, mm! Quite right. Back when I was in the field, we had to scrape together operational funds because there was no money... Things seem even worse now. They order us to work without proper funding... Heh, it's a bit embarrassing to say this in front of a capitalist, but isn't this reform policy just a load of hot air?"
True to his ties with the Communist Party hardliners, he clearly didn't care for Gorbachev and his cries of reform and openness.
So why take my gold bars?
Well, that's that, and this is this. Originally, most of these communist aristocrats would swiftly embrace capitalism after the Soviet collapse, evolving into Red Mafiosi or oligarchs—Russia's new tycoons.
Of course, they weren't all that wealthy yet, posing as the leadership of a communist society. That's why he was so thrilled by my modest gesture.
Stroking his finely groomed mustache, the colonel nodded.
"I've received your sincerity. It's not much in return, but... I'll make sure your business gets the green light."
"Perfect. Having someone like you watching our backs is ideal. As a foreigner, I hesitate to say it, but the current situation isn't looking great, is it?"
The colonel gave a wry smile and nodded in agreement.
"Sigh, indeed. My nephew was rude the other day, wasn't he? I apologize for that. But... embarrassingly, Yuri is one of the more upright young men in the Soviet Union. So the rest..."
How desperate must he be?
He trailed off with a mutter. The colonel's eyes drifted to the vodka bottle on the table.
Vodka sitting there despite the alcohol ban—a subtle sign of his involvement in smuggling.
"Ahaha, then let's call it a day. I'll visit again with more gifts next time."
"Very well. Take care."
Satisfied with the deal, I left the communist aristocrat's mansion with a smile.
◇◇◇◆◇◇◇ I strolled down the street, humming a Russian folk tune.
A somber air hung over Moscow's streets.
Young men glancing around anxiously, homeless drunks sprawled on the pavement, tourists staring wide-eyed at the Kremlin.
The summer sun approached them all equally, sharing its warmth, but their reactions varied.
From those shielding their eyes with their arms to those tilting their heads back to bask in the rays.
I passed them all slowly, taking in the Soviet Union.
The end of an era crystallized in this very moment.
'Truly, there's no better time to build connections with so little money.'
Those pretending to be realistic often misunderstand, but ideology and beliefs are far more powerful than one might think.
Even now, on the brink of collapse, most communist aristocrats wouldn't outright deny the need to address the USSR's economic inequalities—they'd just pity you as a naive idealist.
The Soviet Union's Gini coefficient for economic inequality was still around 21st-century South Korea's level. The sight of homeless people in Moscow shocked the Soviet populace.
They believed the homeless and unemployed existed only in capitalist nations.
That was the last shred of pride for the Soviet Union, self-proclaimed heart and leader of communism. Even as communist bloc nations slipped through their fingers like grains of sand—even if the entire alliance was futile...
The Soviet Union is a communist state. That's what they thought.
This is, this place is, this time is.
The Union of Soviet Socialist Republics.
It was the ideology, the nation, and the era itself that dominated the 20th century.
The power of ideology created the illusion that the crumbling Soviet Union still stood strong. The USSR had already lost and died, but Soviet citizens lingered, pumping electricity into the corpse.
It was a vain hope, yet a belief that truly existed.
Despite free healthcare, housing, and education crumbling; state enterprises privatizing; moonshine traded openly; McDonald's opening in Moscow; unemployment and homelessness becoming overt social issues; and the General Secretary changing three times in three years amid extreme political chaos.
Soviet people believed the USSR still had reserves. They couldn't fathom the world's sole superpower, which had divided the globe, collapsing so pathetically.
Even those who believed in capitalism half-thought the same.
This was six months before the Soviet collapse.
And... about a month after I returned to Korea from Moscow.
The August Coup erupted.
Soviet citizens, lost in past glories, clung desperately to their Soviet identity until the very end.
◇◇◇◆◇◇◇ 📰 Breaking News [Breaking: Gorbachev Ousted... Communist Faction Coup Suspected] [Soviet Union Declares State of Emergency, All Power to State Emergency Committee] [NATO Emergency Summit, World in Uproar Over Soviet Coup] [Boris Yeltsin Calls for General Strike Among Former Soviet Citizens] "Wh-what do we do?"
Choi Yeon-ha, who had stayed in the Soviet Union until early August to coordinate before flying back at my urgent summons, looked at me with trembling eyes.
The unprecedented event of the Soviet Communist Party staging a coup against the Soviet Union itself had sent the entire political landscape into upheaval.
But my focus was elsewhere.
"What about the financial markets? How's the CDS premium changed?"
"Huh? St-stocks? Isn't the Soviet Union more important right now? Even the KGB is involved in the coup..."
I smiled gently and patted her shoulder.
"That's important too, but it'll be fine. The colonel was quite pragmatic, so he probably didn't throw himself into the coup. That's why I sent you there in the first place."
The August Coup faced internal opposition even within the KGB. Communist aristocrats who stood to lose from reforms supported it, but...
Not the colonel anymore. I'd given him a taste of capitalism.
People do crazy things when they're hungry. Once the colonel's belly was full, he could finally look to the future properly.
-A coup? Why bother? I'm already adapting to capitalist markets.
Shedding any regrets about the Soviet Union, the colonel took a neutral stance, biding his time. Choi Yeon-ha's safe return was proof.
If he'd been all-in on the coup, he wouldn't have let a capitalist's dog go unscathed.
"The coup will fizzle out as things unfold—just a standard failure. Then the radical reformers will dismantle the Soviet Union."
Since I'd drilled this into her ears endlessly, she accepted the USSR's impending collapse as a matter of course.
"The Soviet Union... How, how on earth..."
Her eyes glazed over, staring into space. She couldn't believe that what I'd insisted on for so long was finally happening.
"The KGB is huge, so it'll be a solid asset going forward. Where do you think all that talent will go after the collapse? Mutual benefit, really. They'll need reliable Western friends they can trust now."
"What if there's a purge...?"
"Hmm, you really think so? It'll probably end with a few people taking the fall."
True to her experience with military coups in Korea, Choi Yeon-ha grasped it immediately. The Hana Hoe purge hadn't happened yet.
"Ah..."
I shrugged.
"Yeah... that's how it goes. Once the Russian government takes over, Yeltsin will side with the communist aristocrats."
Ironically, the communist aristocrats would embrace capitalism faster than anyone. They weren't proletarians—just the elite.
"More importantly, the financial markets?"
"Y-yes! Let me pull it up now!"
Choi Yeon-ha rushed to her desk, brought up multiple screens, and showed them to me.
Financial markets worldwide, from Wall Street on down, were crashing in unison, while the Soviet CDS premiums skyrocketed.
Of course, I hadn't taken a big hit. I'd made every excuse to hold a wait-and-see position.
Alpha Fund probably thought it was due to secret Eastern European investments. Lately, setting up a proper bank in Germany had required significant capital.
"Hmm, not bad."
Two years ago it hadn't existed, but having learned through documents that I'd created CDS and Daeha Securities' rough plans, Choi Yeon-ha asked cautiously.
"I heard you planned to buy CDS in bulk before the Soviet collapse... Should I place the orders?"
"No, not yet. Premiums are too high. Buy after the coup fails. Early September should be good."
They'd drop sharply when Gorbachev returned. Still insanely high, but free money nonetheless.
I glanced at the TV, confirmed history unfolding as expected, and reclined comfortably.
"Handle the rest per instructions... Tell Si-hyeon to dig into Nick Leeson's movements, focusing on derivatives trading volume. If possible, probe Bear Stearns HQ for internal info."
"Yes!"
I sent out my secretary, who gazed at me with awe, then smiled faintly and looked out the window.
Now the desperate fish would bite the bait.