Chapter 93 – Ultra-Hyperinflation

Returning to his office, Rashid immediately called her.

“Keep this to yourself. The price of the national bonds will plunge soon.”

At the unexpected words, she wore a bewildered expression.

“Already?”

“Because the nobles confined below, the establishment who fled from the imperial capital, and even the Guild Federation have all agreed to dump them.”

The timing was too early, far too early.

Of course, even Rashid had not predicted this timing.

Because while discussing countermeasures with Kaiser, they had decided to intentionally meddle with the price of national bonds to bring down the Emperor as quickly as possible.

A grumble came from her.

“You should have at least told me in advance. If you did, I would have responded faster.”

“This was something I did not expect either. We intentionally advanced the timing while discussing it with the party representative.”

Rashid asked an important question.

“More importantly, how many mana stones have you secured?”

“About thirty percent of the budget we thought of. I was in the middle of purchasing them as inconspicuously as possible, fearing the price of mana stones would spike if we moved too hastily.”

Her liquid assets were not of a small scale.

Even at thirty percent, she must have purchased quite a lot of mana stones.

“Thirty percent…”

Considering the impending plunge in the national bonds, the timing of her purchasing mana stones was too late.

The Emperor’s authority would grow stronger as time passed, and since they had to instigate chaos before then, they could not delay the plunge of the national bonds too much either.

‘The important thing is not making money, but ensuring the Empress of Blood falls for sure.’

“Now it is fine even if it is conspicuous, so purchase them as quickly as possible. Since we cannot delay the timing.”

The national bonds would continue to be dirt cheap afterward, but she would be the only one who could buy them at the absolute lowest point.

Because among the wealthy who possessed some scale, she was the only one who knew the future value of the national bonds.

“How much has the price of mana stones risen relative to gold recently?”

If there was no major fluctuation in the two values, there would be no change.

But that was not the case.

“Slightly less than double. I am buying them, but it seems others besides me are also purchasing them.”

“It must be that professor who succeeded in transmuting gold. Since he would be the person who knows best that gold will become worthless.”

Rashid gave an instruction.

“From now on, do not care about the affairs here at all, and focus solely on purchasing mana stones.”

“I was planning to do so anyway. By the way, when is the exact time?”

“A week from now. Because we agreed to dump them all around then. It will probably drop to an absurd degree.”

“A week from now… I will have to run around quite busily.”

Rashid, stroking his chin, thought about maximizing profits even further.

“As for the fact that gold transmutation was successful… it would be better for us to announce it first.”

She cast a questioning gaze.

“Us? We should have nothing to do with that matter, though?”

“We can raise suspicions. Since it is our Order that is most reluctant about that matter.”

“Alchemy… is indeed blasphemy.”

Rashid raised his index finger.

“We can just say we have been investigating it since long ago. That way, we will be able to drive up the price of mana stones to some extent.”

The price of national bonds reaching the absolute lowest point, and the price of mana stones soaring day after day.

It was the point of maximizing profits.

“I will take care of the matters related to gold transmutation. You purchase as many mana stones as possible, and just report the results of the purchases frequently.”

“Understood.”

She departed.

Seeing the outside grow busy, she seemed to be going out immediately.

Rashid pictured the approaching era of chaos in his mind.

‘It will be quite overwhelming. Because no matter how great the power of authority is, it will not be able to quiet the entire seething imperial capital.’

For her, who sought stability through the Reign of Terror, the impending chaos would be the greatest crisis and a fatal blow.

If they failed to overcome that crisis.

‘It will be our victory.’

* * *

The national bonds plunged.

Everyone dumped them as if they had agreed to do so, and the price repeatedly plummeted without end.

Those who had agreed to dump them in advance minimized their losses as much as possible, and those who followed afterward were startled by the national bonds turning into waste paper and began throwing them away.

The acceleration of the plunge.

Of course, there were those who lunged in with the heart of a beast at the excessively cheap price, but

they did not know

that there was a basement below the basement,

and yet another basement below that basement.

Those who clumsily tried to scoop up the national bonds faced unbearable losses, and as the imperial currency also nosedived, they could not help but taste deep frustration in the darkened future.

As ruin thus settled upon the country, he finally raised his head.

The magic where money in name only turned into waste paper.

Hyperinflation had begun.

“In the past, we lived for a day on 1 denarion. Now, we cannot buy a single loaf of bread even with 100 or 1,000 denarions!”

Although political assemblies had vanished due to the Reign of Terror,

those who lost their reason due to the soaring prices rushed out onto the streets and began to incite the people.

“Today’s bread price is 1,500 denarions, and tomorrow it will be 2,000! And the day after tomorrow it might be 3,000, no, 5,000! Is this even a country?”

He was starving due to the soaring prices, and those who agreed with his words were in the same plight.

“Right!”

“To buy a single damn loaf of bread, you have to carry a wad of money in a cart!”

“Merchants will not accept anything but gold coins now.”

“I don’t care about politics! But I absolutely cannot tolerate being hungry! Let’s go raid shops, warehouses, whatever! At this rate, our families will all starve to death!”

Starving citizens began to loot, and anger toward the Emperor, who had ruined the market economy, engulfed the entire imperial capital in an instant.

The shutters of shops were forced open one by one, and bakeries and grain dealers became targets first.

Shopkeepers who had only demanded gold coins fled in shock at the citizens who had turned into rioters, and only worthless bills fluttered in the wind on the abandoned counters.

“Let’s loot it all! We have to survive first!”

The streets were tangled with carts fully loaded with looted goods and carts fully loaded with money.

The imperial currency was no longer a medium of exchange.

As warehouses were looted and the distribution networks paralyzed,

Whoosh!

performances of burning money began.

An ultra-hyperinflation, going beyond hyperinflation, had emerged.

People starved while clutching bills, and those holding a loaf of bread guarded themselves with knives.

The Imperial Army was deployed to settle the chaos, but the suppression fizzled out.

Because the salary they received was also imperial currency.

The imperial capital had transformed into a field of chaos where rioters exhausted by starvation ran wild.

“Anyone who insults the Empire and His Majesty the Emperor is to be executed! Kill them all, regardless of the reason!”

At least, as the Emperor’s loyal dogs,

the Imperial Guard knights went out into the streets to slash the rioters and put up a fight, but

in the end, they too had no choice but to raise the white flag.

If they cut down one, two came out to protest, and if they cut down those two, four came out.

If they cut down four, eight came out, and if they cut down eight, sixteen citizens were now glaring at them.

When the situation became utterly uncontrollable,

the Commander of the Imperial Guard hung his head in a wretched mood before her as she sat on the throne.

“Your Majesty, I have no words to offer. The entire imperial capital is overflowing with rioters to the point where the Imperial Guard knights are exhausted from cutting them down.”

What use would there be in blaming him?

She asked the nobles gathered in the audience chamber.

“I heard the Guild Federation and the nobles resisting the current reign systematically dumped national bonds to instigate the plunge. I hear the collapse of the currency value is also related to the plummeted price of national bonds, is that so?”

The nobles, watching the Emperor’s countenance, spoke as carefully as possible.

“Yes, Your Majesty. We also heard so.”

“Can we not revive the plummeted currency value?”

At that question, the nobles began to watch her countenance.

Because if they misspoke even once, their heads would fly.

Perhaps recognizing this, she added further words.

“I will not blame you no matter what you say. It is to find a way.”

Silence flowed for a moment.

Then one noble gathered courage and carefully spoke.

“Your Majesty… a currency whose trust has already collapsed cannot be revived by simple commands or declarations.”

She asked.

“Is it the same even if we buy up the plummeted national bonds to drive up their price?”

“The price of national bonds that has already lost market trust will not easily revive even if we buy them.”

“What is the reason? If we buy them expensively, will the price of national bonds not recover?”

“First of all, the Guild Federation dumping the national bonds was the most fatal blow. The reason it was fine for us to issue national bonds before was that the entity purchasing those bonds was the Guild Federation, and there was market trust in them.”

“The Guild Federation… is the problem.”

“Yes, Your Majesty. And right now is not the time to care about national bonds and currency, but a time when bread and grains are needed immediately to appease the starving citizens. We must resolve that first.”

“Then open the food warehouses. The payment will be made by the imperial family. If they dislike currency, would gold suffice?”

She thought lightly of it, but the person conversing bowed his head even further.

“Your Majesty, that is to say…”

“Is there some problem?”

“According to what I have heard, armed rioters raided several warehouses containing food and other supplies simultaneously.”

“They raided the warehouses? Then does that mean even if we have gold, there is no bread and grain itself to purchase?”

“Yes, Your Majesty. I believe this was also organized and probably an intended action.”

Firm anger gathered on her face.

“Who did such a thing?”

“They are judged to be the ones who would welcome this chaos the most.”

Her expression cooled chillingly.

“I can tell who it is without being told. Commander of the Imperial Guard.”

“Yes, Your Majesty.”

“How is the suppression of the political rioters going?”

“They have vanished for now. But looking at the current situation, they seem likely to resume activity soon.”

“For them… it will be a good opportunity.”

She sank into deep silence.

The enemy was intelligent, and their attack was blatant yet quite fatal.

“I ask you, lords. Is there no other way?”

Everyone held their tongues.

There was one thing that came to mind immediately, but under the previous flow, their heads would fly.

“I clearly said I would not blame you.”

As she emphasized it again, one person reluctantly stepped forward.

“Your Majesty, I am extremely sorry, but if you persuade the Guild Federation, we might find a clue to resolve the problems at hand. The shortage of food can be filled by importing their supplies, and the plummeted price of national bonds will also regain stability if they return to the market.”

As expected, the words they were most reluctant to hear came out.

“Is there truly nothing but the Guild Federation in your heads, lords?”

“We are sorry, Your Majesty.”

Blaming them did not produce an answer.

The enemy was already acting extremely offensively, using any and all means.

Since they could not hold out like this either,

she too decided to use any and all means.

“I will meet with the ambassador of the Guild Federation.”

She would not just sit and take it.

* * *

“The new Emperor is asking to see me.”

Ambassador Cockle, facing Kaiser, delivered the news.

Kaiser naturally snorted.

“It is an obvious trick. Do not meet her. It is just a scheme to force something using her authority anyway.”

“I was planning to refuse anyway. The imperial family will not bend its will regardless. It is a fact everyone knows.”

Then suddenly,

Kaiser had a thought that he should meet her once.

An ultimatum.

“No. Arrange a meeting. I will join that meeting as well.”

“You, Party Representative?”

Authority

was not possessed by her alone.

“Instead, it must be a safe place. In a location where our safety is guaranteed, I will try to persuade that obstinate Emperor.”