Game of Thrones: The Road to Pirate King

Chapter 329 Banking Discussions

The grand coronation and wedding were scheduled for two days later, and the city of King's Landing was already filled with dignitaries.

Lord Tywin Lannister had already arrived at the Red Keep with his daughter Cersei, residing in the most opulent tower, showcasing the power and prestige of the future queen's family. His son Tyrion, of course, accompanied him, spending his days frequenting the bookstores and taverns of King's Landing.

Prince Oberyn, the "Red Viper" of Dorne, was even more unconventional. He arrived more than ten days early, accompanied by his mistress Ellaria Sand. They booked the penthouse suite of a renowned brothel on Silk Road, where they indulged in revelry for days, bringing Dorne's extravagance and unbridled spirit to King's Landing.

The key figure from the Reach, Lady Olenna Redwynn, the "Queen of Thorns," has taken up residence at the Redwy family's mansion in King's Landing. Their trip is not only to observe the ceremony, but also carries clear political and economic objectives.

As the key proposer of establishing a bank and reshaping the trade landscape, Euron Greyjoy naturally did not slack off.

On the second day after arriving in King's Landing, Euron took the initiative to extend invitations to these factions, preparing to finalize this huge deal, which could influence the future of the Seven Kingdoms and even the land across the Narrow Sea, before the wedding began.

Euron chose the Blackwater Hall within the Red Keep as the venue for this crucial meeting.

This magnificent banquet hall is located in the west wing of the Red Castle, with the Blackwater River flowing beneath its huge stone arched windows.

It boasts ample open space for meetings while also offering excellent privacy due to its relatively independent location. Its grandeur is tempered with restraint, perfectly balancing the need for ceremony and confidentiality.

More importantly, the Lannister family is currently residing at the Red Keep due to Cersei's upcoming wedding. It would be perfectly natural for the leading figures from various factions to visit or offer their congratulations at the Red Keep, and their gathering could thus be concealed beneath the veneer of clinking glasses and lively conversation.

The heavy oak doors of the Blackwater Hall slowly closed, shutting out the noise from the outside world.

Inside the hall, the figures representing the four forces had already taken their seats.

On the Lannister side, Lord Tywin Lannister sat in the main seat, majestic like a lion, his golden eyes revealing neither joy nor anger; his youngest son Tyrion sat a little further away, his eyes, of different sizes, gleaming with curiosity and shrewdness, and winking at Euron upon seeing him.

Highgarden is represented by Lady Olenna Redwyn, the "Queen of Thorns," whose petite frame seems to contain boundless wisdom and power, accompanied by her brother Adrian.

Prince Oberyn of Dorne appeared the most relaxed, leaning back lazily in his chair, with his mistress Ellaria Sand sitting quietly behind him like a captivating shadow.

Only Euron Greyjoy was present from the Iron Islands side.

His father, King Coron, and his brother, Balon, had no interest in such business matters that required careful calculation and were akin to "counting coins," but they did not stop Euron either.

In fact, this was already an unspoken rule within the Iron Islands—Euron's actions, though often unconventional and seemingly rebellious, had repeatedly proven him right. His seemingly Midas touch had long since led King Coron to completely abandon any attempt to control him.

"Let him be," the King of the Iron Islands once told his captains. "He earned those golden dragons anyway. Let him spend them however he wants, do whatever he wants with them. If he makes money, the Iron Islands benefit; if he loses, so be it—with his abilities, why should he be afraid of not being able to earn it back?"

Facing these cunning adversaries and potential allies alone, Euron couldn't help but feel a pang of helplessness. He often sighed inwardly, realizing that he had very few truly capable advisors who could stand alone, understand and execute his ideas.

Once all the attendees were seated, Lord Tywin Lannister nodded slightly, and the maids standing nearby quietly stepped forward and filled everyone's glasses with the "Kraven" red wine, which shimmered with a unique golden luster.

Tywin didn't waste any time with pleasantries. His calm gaze swept across the room, and his voice carried an unquestionable authority: "Now that everyone is here, let's get straight to the point."

Euron nodded slightly, taking over the conversation. His voice echoed clearly in the hall: "As Lord Tywin said, Westeros is a vast and resource-rich continent with increasingly frequent trade. However, for many reasons, it has never had a truly stable bank of its own, which is undoubtedly a major shortcoming and constraint." His gaze slowly swept over Lady Olenna and Prince Oberyn. "I presume that all of you here have already reached a consensus and made plans for this. Now that the situation in the Seven Kingdoms has been stabilized, it is the best time to address this matter. I propose that the four of us jointly fund the establishment of a bank. What do you all think?"

Tywin was the first to speak, stating succinctly, "Agreed." He paused, then added, his tone carrying a hint of reflection on the past: "In fact, I had considered establishing a bank long ago. Unfortunately, during the Mad King's reign, the situation was turbulent and unclear, and it was never put into practice."

Lady Olenna Redwin tapped the table lightly with her fingertip, her voice low but exceptionally clear: "The Reach agrees." Her statement was crisp and decisive, without the slightest hesitation.

Prince Oberyn of Dorne chuckled lazily, his tone carrying his characteristic cynicism: "Dorn naturally agrees. Otherwise, why would my beauty and I be sitting here listening to you discuss these tedious golden dragon numbers?"

Euron's lips curled into a smile as he glanced at everyone present. "Since we share the same goal, let's start with the easy questions and clarify each one one by one." He paused briefly before posing the first and most crucial question: "First, the amount of investment."

His voice was steady as he clearly stated a figure: "I estimate that the bank's initial investment will total five million gold dragons." He then clarified the share allocation: "Each share will consist of five hundred thousand gold dragons."

After the words were spoken, a brief silence fell over the Blackwater Hall. Only the faint sound of the Blackwater River flowing outside the window could be heard.

Five hundred thousand gold dragons per share! This amount is by no means a small sum that even the wealthy families present can easily throw away. However, on the other hand, if a bank is to be established that can operate stably, has excellent credit, and is capable of influencing the economies of the seven nations, then such a massive amount of gold dragons is indeed needed as a foundation in the early stages to deter those who are not trustworthy and to gain their trust.

After a brief silence, Lord Tywin Lannister spoke first, throwing the question back to the initiator: "Euron, you are the one who initiated this matter. How many shares do you intend to subscribe to?"

Euron remained expressionless, calmly extending one palm with his five fingers spread: "Five strands."

This figure caused Lady Olenna Redwin, who was standing to the side, to raise her meticulously manicured eyebrows slightly. She let out a soft, enigmatic laugh, her tone tinged with inquiry: "Oh? I didn't realize that the little sea monster's wealth was even more substantial than rumored."

After a rapid deliberation and a silent contest, the parties reached a preliminary consensus: Euron Greyjoy of the Iron Islands would take 50%; the wealthy Lannisters of the Westerlands and the resource-rich Redwyn family of the Reach would each take two shares, each taking 20%; and the Martell family of Dorne would take one share, taking 10%.

Euron surveyed the crowd and continued on the agenda: "Next is the division of business territories. Westeros is vast, and we need to clearly define the areas each of us will primarily govern and develop to avoid unnecessary internal friction and concentrate our efforts on market expansion." He paused deliberately, allowing everyone to process the weight of his words, "Of course, the final overall profits will still be strictly distributed according to our shareholding ratios."

In fact, when Euron first proposed the idea of ​​opening a bank, these factions had already repeatedly weighed and deduced its implications. The current discussion was simply to bring their tacit understanding into the open, essentially dividing Westeros's economic territory into four major power spheres based on strength, geography, and influence.

Euron had clearly planned ahead. Pointing to the simple map spread out on the table, he stated clearly, "All the islands, coastal cities, and trade routes including the Iron Islands, the Narrow Sea, and the Steppes." The lifeline of maritime trade was now under his control, a move that was perfectly reasonable and everyone agreed with. After all, on the high seas, who else dared to defy sea monsters or default on debts?

"Dorn," Euron said, looking at Oberyn, "is responsible for Dorne itself, the Stormlands, and—the North." Dorne is connected to the Stormlands, making it easier to manage, while the North—is generally considered the largest region, but also the poorest and least inclined to borrow. However, Dorne has a smaller stake, so this less desirable territory can only be given to him.

"Highgarden," Euron's gaze shifted to Lady Olenna, "is in charge of the Reach, the Riverlands, and the Valley. This region is prosperous and interconnected."

"Lannisters," Euron said, finally turning to Tywin, "are in charge of the Westerlands, and the royal domains, including King's Landing."

Entrusting the capital's financial affairs to the most powerful Lannisters was also a way to maintain balance. This was also a request made by Tywin.

Lady Olenna Redwin raised her delicate eyebrows slightly, casting a needle-like beam of light at Tywin. Her voice maintained its noblewomanly elegance, yet carried an undeniable sharpness: "King's Landing? We also have a keen interest in the economic affairs of this capital."

Lord Tywin's expression remained unchanged, but the warmth of his voice seemed to have dropped slightly, taking on the characteristic coldness and pragmatism of the Warden of the West: "The Reach, the Riverlands, the Vale—the combined wealth and tax potential of these three regions far surpasses, if not greater than, King's Landing. My lady, you should be aware of this." He paused briefly before presenting the most crucial reason, "Moreover, the final profits for all four parties will be divided equally according to shareholding, not based on the territory each party manages. Debating the ownership of a single city is meaningless."

Upon hearing this, Lady Olenna's face revealed a meaningful smile. She shook her head slightly, her tone becoming sharp: "Lord Tywin, you can't say that. That's King's Landing, the capital of the Seven Kingdoms, the residence of the king, the center of power! Don't tell me you don't know what it truly means to have complete control over King's Landing's economic lifeline."

Her words were like a finely crafted dagger, precisely piercing through the surface debate about returns and pointing directly to the core issue: that the control of financial dominance in King's Landing would bring an intangible influence and political power far exceeding that of the Golden Dragon.

Euron gently shook his head, breaking the growing tension between the two important figures. His voice was calm yet carried an undeniable air of authority: "Please allow me to clarify one point. No region will be solely and completely controlled by any single entity. The so-called regional division merely means that the initial operating funds for that region will be advanced by designated managers to facilitate startup."

He emphasized the core management mechanism slightly: "However, each branch established—whether in King's Landing, Oldtown, or Sunspear—will have four responsible persons, one from each of our four branches. Any significant lending transaction must obtain the consent of at least three responsible persons to be effective. It cannot be carried out with the consent of fewer than two responsible persons."

His gaze swept over Lady Olenna and Tywin, and he continued to add the crucial check and balance clause: "And if a loan is forcibly pushed through with the consent of only two responsible parties—then, in the event of a loss, the entire loss will be borne by the two responsible parties who pushed through the loan and their families."

This meticulous arrangement disperses absolute power, building a robust firewall through collective decision-making and shared responsibility for risks.

Lady Olenna pondered for a moment, the sharpness in her eyes softening slightly. This mechanism did indeed largely limit the abuse of power by either side (especially those who controlled King's Landing), and she nodded slightly: "If this arrangement is so—it makes sense, and can be considered fair."

Euron then turned to Tywin, tossing the decision to him: "Lord Tywin, what do you think of this plan?"

Lord Tywin Lannister remained expressionless. His initial plan, naturally, was for the Lannister family to have exclusive control over the financial lifeline of King's Landing. Euron's proposed "four-party co-management" mechanism undoubtedly thwarted this plan. However, even if he conceded, the Lannisters would at least maintain a quarter of the power in King's Landing, and even in each branch, and the system itself would ensure that their interests would not be easily harmed by others.

Given that he couldn't monopolize it, this was already a fairly advantageous situation that could be secured. He remained silent for a moment, then finally nodded.

Euron spoke again, continuing with the next topic in this crucial meeting: "There is another point that concerns the very foundation of banking security and efficiency. We cannot emulate Braavos's Iron Vault, concentrating all the gold in one place." He surveyed the crowd, his gaze sharp. "That would not only be a huge risk, but also detrimental to the development of commerce in various regions. We should establish branches in the main areas under our respective jurisdictions, allowing funds to flow where they are needed."

Euron didn't just pose a question; he already had an answer ready. His long, slender fingers pointed precisely at the unfolded map: "Based on the most important trade hubs and power centers of the Seven Kingdoms, I propose establishing nine branches initially: Sunspear in Dorne, Storm's End in the Stormlands, Highgarden in the Reach, King's Landing in the Royal Country, Casterly Rock in the Westerlands, Pyke in the Iron Islands, Riverrun in the Riverlands, Eyrie in the Vale, and Winterfell in the North."

Before he could finish speaking, Lady Olena interjected, precisely adding two crucial trading ports: "Oldtown and Seagull Town. These two ports have enormous volumes of capital and are indispensable."

Oberyn toyed with the wine glass in his hand, adding lazily yet incisively, "White Harbor in the North. That's the North's only outlet to the sea."

Even the usually silent Lord Tywin Lannister offered a strategically important location in a low voice: "Harrenhal in the Riverlands. It is centrally located and has a wide reach."

Euron readily agreed, nodding and saying, "Very good. With these four locations, there are now a total of thirteen branches. We'll decide whether to close or add more based on business volume." He quickly clarified ownership, his finger moving rapidly across the map: "Sunspear, Storm's End, Winterfell, White Harbor—all under Dorne's jurisdiction."

"King's Landing, Casterly Rock, Harrenhal—ruled by the Lannisters."

"Highgarden, Eyrie, Oldtown, Gulltown—this is the territory of Highgarden."

"And I," he finally pointed to the Iron Islands, "am in charge of the Iron Islands themselves. Beyond that—" he paused, revealing his core advantage, "the allocation and transportation of funds between all branches will be entirely handled by my fleet. After all, I own the largest stake and bear ultimate responsibility. Whether it's Oldtown, Gulltown, White Harbor, Lannister Port, or King's Landing—my longships can deliver the golden dragons you need safely to anywhere at top speed."

This arrangement clearly defined each party's core interests, secured crucial control over capital flows, and convinced others with its largest shareholding and absolute maritime dominance. After a moment's contemplation, the leaders present nodded in agreement, reaching this far-reaching consensus.

Euron nodded slightly, shifting the topic to a more practical operational level: "Next, we need to discuss the core lending methods that are vital to the bank's survival, as well as the responsibility for handling losses."

Before anyone else could speak, Tyrion Lannister, sitting in the shadows, picked up the conversation in his characteristic voice, tinged with a hint of mockery yet clear-headedness: "The way the Braavos Iron Bank operates—if the royal family defaults, they support the opposition to overthrow the government; if a city-state defaults, they blockade its ports with their fleet; and for clients, they forcibly transfer the debt to their relatives or allies—" Tyrion swirled his wine glass, "This system of power politics is impractical for our fledgling bank, and it makes too many enemies."

Tyrion put down his wine glass, tapped his fingers lightly on the table, and clearly articulated his ideas: "We need a more refined set of rules that are more grounded in law and asset protection."

"First, there is the formal contract. For every loan, both parties must sign a legally binding and comprehensive contract, clearly stating in black and white the interest rate, repayment period, amount per installment, and—the clear consequences of default."

"Secondly, there is the collateral. Borrowers must provide sufficient and readily liquid assets as collateral. This could be valuable antiques, shares in a well-functioning chamber of commerce, licenses for lucrative trade routes, or even unique artifacts of recognized value."

"Finally, and ultimately, is the final guarantee—fixed assets." Tyrion's voice carried a hint of coldness. "When the aforementioned collateral is insufficient or invalid, we will directly address more fundamental matters: using the future tax revenues of our territories, our lands, castles, and even mining rights as the ultimate guarantee for debt repayment."

Finally, he added a crucial element: "Furthermore, we must establish a risk rating system. Based on factors such as the borrower's repayment ability, the value of the collateral, and the purpose of the loan, we should assess different risk levels and set differentiated interest rates and loan terms accordingly. This is not only a necessary means to control risk, but also the key to maximizing our returns."

It seems Tyrion has been well-prepared, speaking eloquently and analyzing logically, earning unanimous praise from everyone present.

Euron then steered the meeting back to the most practical and brutal issue—security. He looked around at everyone, his voice steady and powerful: "Security is the cornerstone of the Bank's survival."

“Each branch maintains a substantial amount of working capital on a daily basis. In case of large loans, we need to urgently dispatch a massive amount of gold dragons from neighboring branches.” Eulen posed the core problem: “How can we ensure the absolute safety of these gold dragons during storage and transportation?”

Euron broke the silence by stating the Iron Islands' stance and responsibility: "The safety of the sea and all funds arriving in the port cities by sea is the sole responsibility of the Iron Islands, and we will bear all unforeseen losses." This commitment was based on the Greyjoy family's absolute control over the sea routes.

He then turned his attention to the more complex situation in the industrial region: "Highgarden, Sunspear, and Casterly Rock—these are your core strongholds, naturally impregnable. But what about other places? Riverrun, Eyrie, Winterfell, Storm's End—faced with mountains of golden dragons, there will be no shortage of those willing to take the risk. How can we ensure the safety of these branches?"

This is indeed the most intractable and the most practical problem. The person in the hall fell into deep thought for a moment.

Then Tyrion's sly voice rang out again, proposing a clever "profit-sharing" strategy: "It's simple, turn the guardian families of these places into our allies." He spoke eloquently, "The Riverrun branch can't do without the support of House Tully; the Eyrie branch naturally needs the cooperation of House Arryn; Winterfell needs the protection of House Stark; and Storm's End can't do without House Baratheon. With their protection, our safety will be guaranteed. Of course, the price we need to pay is—giving them a portion of the profits from the relevant branches."

Duke Tywin nodded slightly, clearly indicating his agreement: "The necessary price is due." But he immediately pointed out a loophole: "Then what about the other port city branches that are not directly controlled by the main families? For example, Seagull Town, Old Town, and White Harbor."

Tyrion chuckled, clearly having already considered everything. "As for those key port city branches—we can easily turn them into elegant shells." His gaze shifted to Euron. "After all, we have Lord Greyjoy's fleet as our backing. In these port branches, we only deploy a small number of gold dragons to maintain daily operations. If there's a major loan need, with the speed of Greyjoy's longships, we can safely transport the required gold dragons from the nearest port before the approval process is complete. Want to borrow money? Give us a few days to raise it."

This plan cleverly utilizes the maritime mobility of the Zuthai Islands and the time lag in loan approvals to transform the highest-risk branch in Hong Kong into a low-risk outpost in Zuthai.

After listening, Youlun's face showed a satisfied expression, and he nodded in approval, saying, "A good idea. Combining the real and the unreal, and binding interests together. In this way, safety can be assured."

Euron then posed the last, and most practical, question concerning the bank's smooth operation: "Finally, there's the matter of personnel. Thirteen branches mean we need thirteen capable and loyal leaders. If we also establish a headquarters to oversee everything, that makes fourteen key positions." His gaze swept across the crowd. "Does anyone have a suitable candidate in mind?"

His response was a brief silence followed by a unanimous shake of the head. Even the most shrewd and calculating Tywin and Lady Olenna couldn't immediately provide an answer. Euron himself offered a wry, helpless smile; such a person, so adept at finance and absolutely reliable, was indeed a rare find.

Duke Tywin, glancing at the darkening sky outside the window, calmly broke the silence: "A suitable candidate cannot be chosen in a day. Today's discussions have yielded fruitful results." His voice carried an undeniable air of conclusion. "You may all consider this further and see if there are any details that need to be added. As for the final step of selecting a candidate—" He paused at just the right moment, steer the discussion towards the upcoming grand event, "we will set that aside for now and make a decision after my daughter's wedding ceremony."

This suggestion is reasonable.

Everyone understands that such an important personnel appointment does require more time to consider, rather than being decided hastily.

Everyone nodded in agreement.

Thus, this secret meeting held in the Blackwater Hall, which was enough to influence the future balance of power between the two countries, came to a temporary end.

The flames in the fireplace still flickered, illuminating the group of people who had just laid the foundation for the future financial empire. The more concrete and lengthy chapter of its construction would officially begin after the king's wedding.