Paradise Burning (The Virtagwalla Series Book 2) (16 page)

32

              Jacqueline Sensado uncomfortably sat next to Artimus Zhang in the back of their National Guard humvee as they sliced through the streets of the financial district of Ponchertrain.

              “Do you really think this is necessary?” Sensado asked as the two of them climbed in from the front staircase of Capital Tower along the Grand Via circle drive.

              “Of course it is,” Zhang, snapped, “The streets on Ponchertrain have become a dangerous place. Gang violence has become ramped. We cannot chance it. Plus you and the Minister of the Interior sold off all of our vehicles so this is the only way we can get around.”

              Rolling her eyes she settled in. The car ride was long, and slow, as the military humvee cruised through the city. She was recounting the events that landed her in the car. ‘I can’t believe the Larynx Light Rail Corporation is going belly up too?’ the thought kept running through her head, ‘Eric Larynx, to come graveling on his knees like that must have taken a lot for him.’ She sighed as she gazed out the window at the gleaming central station, ‘Plus I can’t believe even further the Parliament approved a billion dollar bail out to him. More debt,’ she sighed again.

              The car pulled up to the Virtagwallan World Bank’s street side portico, and the guardsman driving the car jumped out. Opening the door, the two ministers exited. Walking through the palatial lobby, the front desk girls all stood as they watched Zhang, followed by Sensado go straight for the elevators. Even though one girl asked Zhang if he needed any help, he merely waved her down and kept walking. He was on a mission.

              Climbing into the lift, he pushed the button for Kingston’s floor. The doors closed as Sensado remarked, “It is such a shame to hear about those two Guardsmen. The reports say that the suspected killer of that Handel girl, and Kompco, went crazy and killed the two of them in the interrogation, and then took his own life. It is just a shame,” she sighed, feeling sympathy for their families.

              Zhang growled quickly, “Yes truly saddening,” he turned to Sensado, his eyes fiery, “Now focus will you? We need for Harry Kingston and the VWB to buy these bonds. We are specifically here to make sure it happens. Do you understand me?”

              Sensado gave a forced grin, “Of course, sir. This isn’t my first rodeo. We’ve been doing this for months now.”

              “Right,” Zhang quipped turning as the doors opened.

              The two exited the elevator and cut down the ornate hallway straight for Kingston’s office. His secretary jumped up as they approached, “He is busy right now. I am sorry, do you have an appointment?”

              Zhang turned his scowl towards her, and she quickly changed her tone, “Oh, oh, sorry Mr. Prime Minister, one moment.”             

              Zhang and Sensado stopped as the secretary jumped up from her desk and slipped into the office. Coming out a moment later she opened the door, “You may go in.”

              Kingston stood from behind his desk, his face wearing a stern grimace. Zhang waltzed in like he owned the place, while Sensado approached timidly. Shutting the door behind them, Kingston pointed to couches, “Please sit down Ministers.”

              Zhang sat, and then stood again, pacing around the office with his hands in his pockets. Kingston waited a few moments, and addressing Sensado, he asked, “So what can I do for you two?”

              Sensado opened up her bag, and pushing her hair behind her ear, she pulled out a manila document envelope. Handing it to Kingston she said, “Mr. Kingston we need you to do us a huge favor. Three days ago Eric Larynx came to us and informed us that the Board of his company, the Larynx Light Rail Corporation has approved a vote for bankruptcy and dissolution.”

              Kingston snapped his yes up, his readers in his hand, “So, why are you here?”

              She nodded and continued, “He approached the Parliament and suggested that if we could loan him some money, the board has agreed to postpone the publishing of that resolution until a further date. Essentially they would allow him to have more time to fix their efficiency issues in attempt to hopefully become profitable again.”

              Kingston opened the folder again, “So you are wanting to bail out this company too.”

              Sensado cringed at the tone in Kingston’s voice, “Yes, that is how it sounds, isn’t it. Mr. Kingston, we want to allow the Virtagwallan World Bank to buy a billion dollars in our bonds in order to fund this assistance program. This debt will be sold under the Virtagwalla Asset Recovery Program Corporation.”

              Kingston stood up and dropped the folder. He walked over to his desk, “Assistance program? An assistance program is used when you have hope that the victim can be cured. Do you have any indication whether the LLR will ever be profitable again?” he grabbed a couple other folders off his desk, and returned to the couches, “Do you have any reason to believe any of these other companies will ever be profitable again?” he dropped the folders on the table. The folders held the name of various firms and industries staggering along, kept alive only because of government assistance. Pausing he asked, “Why would we want to continue to buy your bonds when we aren’t even sure whether the government will ever be profitable again?”

              Zhang chimed in, “Because that is what you do, Hary! You are the Virtagwallan World Bank. You buy our debt. That’s how it’s always been.”

              “Just because that’s how its always been doesn’t mean it is what is best for this company, or best for this island,” Kingston attempted to defend his stance.

              “You listen to me, and you listen to me real good sonny,” Zhang snarled at the man. “We are two weeks away from the most important vote in this nation’s history. We are two weeks away from the United State’s Congress voting on our application for statehood. We must make sure our economy looks as good as possible, given the circumstances that are. Once we join the United States, it will all be better. We will all be better off,” he stared down at Kingston, “Your bank will be better off.”

              Kingston shook his head, “I am sorry Mr. Prime Minister but we have no guarantees that the vote will even pass. Why would they want us anyway? Threads are barely holding our economy together, crime has become viral, and almost one third of our population is unemployed. My God the only things keeping us on our feet right now are the farms in Villaggio!” he paused, “Plus even if we do pass the vote, I can not be sure we really will be better off. We will still be saddled with all of our debt.”

              “We will be better off,” Zhang argued, “We have put so much work into changing our nation so that it can pass this vote. We will be better off. Now we have an official resolution calling for the selling of a billion dollars in National Government Bonds. Will you buy them?”

              Kingston shook his head, removing off his glasses, “I am sorry sir but I will not. I can not,” he avoided eye contact with either Minister. His mind snapped to his boss, Edmond Whidbey who was probably sitting just a couple floors up. Kingston felt a twang of guilt, knowing that his boss would fire him on the spot if he knew what Kingston was up to. But turning down the government was what he needed to do. He had to stop the vicious cycle, ‘we can’t go on like this forever.’ He turned his gaze to Sensado, “If I were to buy these bonds I am afraid we, as an institution would not be solvent. I can’t do that. There are rumors circling that there may be another bank collapse like the UBB, except this time more devastating. We as a bank must protect our interest,” he paused. “Much like you are attempting to do right now with our nation. But I am sorry I can not.”

              Sensado stood up, “I understand Mr. Kingston,” she stuck out her hand, “I will simply report back to the Parliament that the VWB does not feel our debt is creditable enough anymore,” after shaking his hand, she grabbed her bag, “Have a good day Mr. Kingston.”

              Zhang scowled at Kingston as he left the office, the two men did not shake hands. Harry stood for a few moments recounting the events that just unfolded, and felt reassured that he had done the right thing. Sitting down at his desk, he picked up a picture of his family. ‘I am doing this for you,’ he thought looking at the smiling photo of his wife, son and two daughters.

              Allowing the doors to close on the elevator, Zhang turned to Sensado, “I am not happy with how that unfolded.”

              Sensado shook her head, she completely understood and agreed with the way Kingston had elected to act, “I think Kingston did the right thing. We have over extended ourselves, and we are finally beginning to see the side effects.” A bizarre sense of self-gratification began well up inside of her, as if she had predicted this would happen and no one listened.

              “Well I am not,” Zhang snapped. He looked at her, and paused before he spoke. She wasn’t sure whether what he was thinking, but Sensado didn’t like his tone. He started again, this time slowly, “I want you to open an investigation of the VWB’s books. Audit them. Find something.”

              Sensado rapidly reacted, “Sir, that is uncalled for. Just because they won’t buy our bonds doesn’t mean we have to turn on them. They have been loyal supports of us up until this point, and I don’t feel we have any reason to believe they are acting unethical in any way.”

              Pushing the stop button on the elevator, he turned to Sensado. For the first time she was actually somewhat scared by Zhang’s intensity, “Now you listen here. I am the Prime Minister of this Nation! When I tell you to do something you damn well do it. Now if you can’t audit them, than I will find someone to do it in your place. Do you understand?”

              Sensado’s face clearly showed her comfort level, nodding yes. The Prime Minister collected himself, and patted his hair down. Restarting the elevator, he growled on his way out, “I want this completed by the end of the week,” judging by the shock on Sensado’s face, “yes that means you have five days. I encourage you to get started soon.”

33

              In all of his years reporting the news Derek Congral had never prepared for such a dramatic broadcast. He was woken up with the news very early, and called into the station’s headquarters to muck around the office as his interns and staff attempted to collect more information. He knew the President had been ripped from his bed many hours earlier than he had been, and the government was in full mobilization. Lis Mooring was running briefs back to back in the Press Office of the Executive floor of Capital Tower. The Minister of Finance had contacted the television station, and asked if she could be featured as a guest in order to explain the extents of the government’s intervention in the crisis. Derek hoped she could offer a lot of information, because people were inevitably going to be scared and panicked.

              Congral found his way into his chair behind the desk on the news’ set, and ordered his papers in front of him. The cameraman gave him the signal and he took a deep breath. The weight of the news he was about to deliver nearly crushed him. He thought of his family, his children, his elderly mother in the nursing home that would be settling down to watch her pride and joy – destroy the hope of a nation. Nodding at the cameraman he counted down on his fingers.

              Starting slowly, “Good morning my fellow Virtagwallans, I am Derek Congral and this is Fox 59 Morning News, with a special report. I come to you this morning, very early, to share with you some very devastating information. While all of you slept, a crisis was unfolding thousands of miles away in New York City. Around seven hours ago the United States Federal Government seized their three largest banks and placed them under control of the Federal Reserve Bank and the Department of the Treasury. The Government deemed these institutions insolvent, and instead of allowing them to fold over night, the government stepped in to insure their assets,” he paused. Although it was nothing new to the people in the station he could almost imagine the scared and confused faces of the citizens of his nation. “In response to this news, the New York Stock Exchange plunged, loosing 74% of its value within the first three hours. The only reason it stopped was because the President of the United States ordered the markets to close. To make things even worse, the United States dollar collapsed in value becoming nearly worth less than the paper it is printed on.”

              Congral stopped again taking off his glasses, “Ladies and Gentlemen within the last seven hours the greatest economy in the world was brought to its knees. There is speculation by economists all over the world that the European Union will be the next economy to collapse. The European Central Bank has hinted it is considering seizing the assets of the National banks of Germany, Italy, and France, as all three of them may be insolvent as well.” His mind was bending over and hurting. He pushed forward, “With the collapse of the US dollar, the Virtagwallan economy have become essentially powerless. As a nation using the dollar, our currency has become worthless over night as well.

              “More than five hours ago, President Rove was pulled from his bed, and ushered to Capital Tower where he met with Minister of Finance Jacqueline Sensado and his economic advisors, ministers of the Parliament, and the Mayors of both Villaggio and Ponchertrain,” he paused again shuffling a new paper that been placed on his desk, “This just in, the Parliament met earlier this morning and passed a few emergency resolutions. One has granted Minister Sensado ultimate power over the monetary supply of the nation of Virtagwalla. Furthermore the Parliament, has apparently,” he stumbled over what he was reading for the first time, “has awarded President Rove with emergency authority over the National Guard, all police forces, and other broader emergency powers. With those powers, just about two hours ago helicopters were sent to the ports in both Ponchertrain and Villaggio and seized all the vessels in the harbors. Speculation has it, that most of these vessels were carrying freight from the farms in Villaggio which was being exported to other countries,” he scanned the papers for further information, and then raised his eyes, “I guess the President has finally heard the cries of the starving people in the cities on this island.”

              There was a snap and Congral noticed Sensado moving through the stage, people powdering her face as she approached. Congral, frazzled, began shifting his papers. Turning back to the cameras he said, “In order to get a better idea of the entire situation unfolding here on Virtagwalla and around the world I would like to introduce to you Minister of Finance, Jacqueline Sensado.”

              Sensado sat down. Deep creases had developed across her forehead. She settled herself and looked into the camera, “Good morning my fellow citizens. I have been sent by President Rove and Prime Minister Zhang to speak to you directly about what is going on,” she flicked her eyes at Congral, “I am confident that many of you have already been informed that the economy of the United States has in fact collapsed. I think it is safe to say that the US is beginning their second great depression. Our thoughts and prayers go out to them as they struggle over the next couple months and years. Many of you however, and rightly so, are more concerned about what is unfolding here on our island. Allow me a few moments to explain to you what all of this means for us.”

              Shifting in her chair, “Our money, the dollars in your wallet, and the cash you have placed into our banks, in one night has become essentially worthless. It may be hard to believe, as myself am still struggling to understand it all. I have suspended the activities of the Virtagwallan National Stock Market until future notice. In response to this the parliament as approved my plan of backing up your wealth,” she paused again, swallowed and trekked forward, “The Virtagwallan National Government starting this morning insures up to fifty thousand dollars of your wealth, to be paid to you in gold. The dollar bill may be useless, but gold surely is not. This means that each citizen, can come to specific government facilities outlined on our website to redeem your cash for gold. We have placed a $50,000 limit in order to insure the that each citizen can receive some form of compensation.”

              Folding her hands and looking at Congral, “In reference to the news reported about the President’s actions of nationalizing the cargo vessels containing agriculture, I can assure you this was done in the name of national security. Since the dollar has collapsed, so has any form of Virtagwallan international trading until conditions improve. This agriculture will be distributed to citizens who need food to eat,” she paused again and slightly changed her tone, “Ladies and Gentlemen I wish to ease some of your fears. As I can imagine, right now you are attempting to grapple with this information and plan for the future. I can assure you that everyone on this island is in the same boat. We must act as one nation right now. We must stand together. In one week we will be up for statehood, a decision that was voted on and approved by an overwhelming majority of this nation. Let me assure you we will make it through this difficult time. We must not give up hope. We must have faith in our tenacity and our ingenuity. Although this may seem like the darkest of times, we must only remember that it is always the darkest before the dawn. We must preserve and move forward.”

              She attempted to crack a smile, however she knew that what she was telling the people to do - she was struggling to do herself. Instead she shook her head, and she looked into the camera, “My fellow citizens have faith. That is all we can have at this point. And may we always remember the motto of this great land. Virtagwalla – Gold from the beginning, to the very end.”