InkBound
patreon
CH212 | GSI
🕑 Added 2025-03-13 03:45:02 +0000 UTCDecember 22, 1995
New York, USA
A Gulfstream IV business jet, painted in a crystal white and nautilus blue two-tone scheme, gently touched down on the runway of LaGuardia Airport in Queens under the guidance of air traffic control.
The private jet taxied slowly along the asphalt-paved taxiway before coming to a full stop at a spacious parking area.
As the airstair lowered, Seok-won, dressed in a brown cashmere coat, appeared, accompanied by his bodyguard, Baucus.
"Welcome back, boss."
Right on schedule, Landon was there to greet him with a bright smile as Seok-won descended the steps.
"How’s the market looking?"
Seok-won asked as they exchanged a brief handshake. Landon, who had been smiling just moments ago, slightly stiffened his expression.
"Not great."
"Judging by that look on your face, I assume the stock market is still rallying today."
"Yes. Contrary to expectations that the Federal Reserve would hold rates steady due to the government shutdown, the FOMC meeting resulted in a 0.25% rate cut. That caused the market to hit rock bottom and then surge, especially in tech stocks."
"A rate cut is a major boon for capital-intensive tech stocks, so it makes sense."
Unlike Seok-won, who remained composed, Landon had a worried look on his face. After hesitating briefly, he carefully broached the subject.
"The S&P 500 has jumped more than 12 points in just two days. The momentum is intense. If we exit our positions now, the losses won’t be too significant. Wouldn't it be wise to close our positions here?"
"Are you saying our short bet has failed?"
Seok-won asked, gazing at him intently.
The pointed question caught Landon off guard for a moment. He quickly composed himself and responded in a way that wouldn’t offend Seok-won.
"Who could have predicted that a sudden rate cut would completely shift market sentiment in just one day? On top of that, with the Christmas holiday starting tomorrow, we have very few trading days left this year, which adds to our risks."
Seok-won remained silent, still smiling faintly, prompting Landon to continue.
"If the White House and the Republicans reach a compromise and the shutdown ends, we won’t be able to react in time. From a risk management perspective, wouldn’t it be better to cut our losses now?"
The government shutdown had already lasted a week.
Despite exceeding the duration of the previous shutdown, there was still no sign of an end to the political standoff between the White House and the Republican Party. Frustration among the public was mounting, and both sides were facing increasing criticism.
With Christmas and the year-end holidays approaching, prolonging this high-stakes standoff was becoming increasingly untenable.
"It’s not just the stock market that’s taking a break—the White House and Congress are going into recess too. If they don’t act soon, the shutdown could last through the end of the year. Neither side wants to start the new year with that kind of political liability."
"That’s exactly my point."
Landon glanced at Seok-won’s reaction and pressed on with greater conviction.
“If moderates take advantage of this atmosphere and persuade House Speaker Savitz and President Davidson—both of whom refuse to back down—then both sides might pretend to yield and enter negotiations, leading to a dramatic resolution.”
“That would certainly fit the Christmas spirit of reconciliation and forgiveness, making for a solid justification.”
“Exactly. And for politicians, justification is everything.”
If events unfolded as Landon predicted, both the White House and the Republican Party could save face while ending the burdensome shutdown.
From a political standpoint, it was the perfect opportunity to wrap things up. But for Seok-won and the Eldorado Fund, it was the worst possible outcome.
At any other time, they could assess the market and react accordingly, but with the year-end holidays approaching, they were effectively paralyzed until the break was over.
‘If a deal really is struck over the holidays, the stock market will skyrocket the moment the new year’s trading begins. No wonder he’s worried.’
Landon, looking increasingly concerned, continued his persuasion.
“Look at how the market rebounded immediately after the Fed’s rate cut—even with the shutdown still unresolved. That alone shows how strong the market sentiment is right now. If a budget agreement is reached on top of that, the pent-up momentum will drive prices even higher.”
Seok-won nodded in agreement.
“When the pressure holding a spring down is released, it jumps even higher. That makes sense.”
“Exactly. If we wait too long, we might not have a chance to act before the damage becomes catastrophic. It’s best to take precautions now.”
After hearing him out, Seok-won did something unexpected—he smiled faintly.
“Does Andrew feel the same way?”
“Yes.”
Seok-won’s relaxed tone made Landon wonder if he truly grasped the gravity of the situation.
“I understand your concerns. The market is rebounding quickly, recovering the losses from the past few days. That’s likely because people are expecting a resolution.”
It was a high-risk situation—one where a margin call or even a short squeeze could hit at any moment—yet Seok-won remained completely composed. Landon couldn't hide his bewilderment.
“…That’s right.”
“But what if,” Seok-won continued, “the budget agreement doesn’t happen?”
Landon’s eyes widened, as if the thought had never even crossed his mind.
“What…?”
Watching Landon struggle to hide his confusion, Seok-won spoke meaningfully.
“Everything you’ve said so far is based on the assumption that the shutdown will end. But what if it doesn’t? What if the federal government remains closed past the new year?”
“That’s impossible.”
Landon shook his head, looking dumbfounded.
“Politicians are the most sensitive to public opinion. Do you really think President Clinton and Speaker Savitz would take such extreme measures? Especially with the presidential election coming up next year?”
As expected, Landon was skeptical. Seok-won raised a finger and gently waved it side to side.
“No, you’re wrong. Because of the election, they’ll be even more determined not to back down. Each side will want to control the political landscape and steer the situation in their favor.”
Still unconvinced, Landon argued back.
“Even if one side wins the power struggle, wouldn’t they lose public support and hurt their chances at the polls?”
“Of course.”
Seok-won admitted it without hesitation, making Landon look even more puzzled.
“Do you know the exact date of next year’s presidential election?”
“I’m not sure, but it’s sometime in November, right?”
“November 5th. That’s about a year from now.”
Landon wasn’t sure why that mattered, but he kept quiet and listened.
“A year is a long time in politics. Especially in the U.S., a vast country with a diverse population—think of how many events and crises will occur in that time. Right now, the media is in an uproar over the shutdown, but by the time the election comes around, most voters will barely remember it.”
Even major issues fade with time.
People were too busy with their own lives to dwell on past events.
If you asked someone what happened last year, how many would be able to give a clear answer?
Shrugging, Seok-won added:
“Besides, blame for the shutdown falls on both parties. Neither side will want to bring it up in the election to attack the other.”
“Ah…”
Landon let out a quiet exclamation, realizing he hadn’t considered that angle.
“On the other hand, if one side wins the power struggle and gains control, they can steer the political narrative all the way to the election. That’s why neither the White House nor the Republicans will give in easily.”
Seok-won, as always, remained completely confident in his assessment.
Landon found the reasoning sound but couldn’t shake a lingering unease. He asked cautiously:
“But the longer the shutdown drags on, the greater the suffering of ordinary people. Couldn’t they reach a compromise for the greater good?”
Seok-won smiled faintly.
“Do you really believe that?”
“…Now that I think about it, that does sound like a perfect Hollywood ending.”
Seok-won let out a dry chuckle and spoke with certainty.
“That’s never going to happen. Power is far too sweet to give up that easily.”
Landon, who knew all too well how fiercely politicians clung to power, nodded bitterly.
“That’s why I have no intention of ending this game just yet.”
Seok-won’s smile deepened, his eyes glinting with amusement.
“The real game starts in Round Two, so don’t be impatient. Just sit back and wait like I am.”
Landon shook his head in disbelief. Seok-won was wagering a staggering $20 billion, yet he carried himself as if he were playing a casual game of cards with friends.
“I don’t have nerves of steel like you, boss. I can’t afford to be that relaxed.”
Seok-won burst into laughter, then patted Landon on the shoulder.
“Well, since Christmas break starts tomorrow, why don’t you take a trip with your family and forget about the markets and Washington for a while?”
Landon groaned.
“I’d love to, but let’s be real. Even if I go, I’ll probably spend the whole time restless and checking my phone.”
Seok-won smirked knowingly. Landon was the type who would keep calling the office non-stop, only to get scolded by his wife in the end.
“Fair enough.”
Landon sighed, his face still clouded with concern.
“Since you plan to hold your position, I’ll need to prepare cash reserves to cover the incoming margin calls.”
“The market’s likely to break past its previous high on anticipation, so make sure you have plenty set aside.”
“…Understood.”
Landon’s voice carried a hint of resignation.
It was only then that he realized they’d been standing in the middle of a freezing cold dock, exposed to the harsh winds coming off the river. Looking embarrassed, he bowed his head slightly.
“My apologies. I have a helicopter waiting to take you to the hotel. Let’s go.”
Seok-won nodded and followed Landon as they briskly moved toward the waiting aircraft.
A few moments later, the twin-engine Bell 212 helicopter lifted off, its rotor blades slicing through the air as it slowly ascended into the sky.
Once it reached cruising altitude, the helicopter followed the East River toward New York Bay, heading toward its destination—the Plaza Hotel in Manhattan.
Seok-won, wearing noise-canceling headphones, turned his head to gaze through the windscreen at the sprawling city below.
Days of continuous snowfall had transformed New York into a vast white landscape.
On the freshly plowed roads, cars were packed tightly together, crawling forward at a snail’s pace like sluggish turtles.
As the helicopter neared Manhattan’s towering skyline, Seok-won’s eyes landed on Central Park, blanketed in pristine snow.
The sight reminded him of a conversation he’d had with Tom Ford—New York Fashion Week was once again being held at Bryant Park this year.
‘Come to think of it, Kinsley mentioned she’d be in New York for Christmas.’
There was still plenty of time before Fashion Week, but a top model like Kinsley was almost certain to attend.
‘Maybe I should reach out to her.’
Seok-won smirked slightly. Perhaps his Christmas plans were about to change.
