America's No. 1 financial conglomerate

Chapter 328 Served

Happy Mid-Autumn Festival!

In the seemingly glamorous but actually turbulent arena of fame and fortune in American politics, Donkey has been having a tough time lately.

"As you know, the situation for the donkey is not very good right now. Putting aside the external power struggles, there are also various voices within the company, and no one is willing to submit to anyone else."

When faced with Ernst's conditions, Van Buren played a game of tai chi, neither agreeing nor refusing, but instead made a complete reversal.

Ernst looked at him like that and cursed him inwardly as an old fox.

At this time, the donkey was indeed at a low point in his power. The most direct manifestation of this was Zipperton, the guy sitting in the white house. On the surface, he seemed to be doing well and had created an economic miracle in America, but in reality, he was being roasted over a fire all the time.

What third way? What new democratic faction? What return to the middle way? It's all bullshit.

Ultimately, it all comes down to the fact that they lost their two right arms, the Senate and the House of Representatives. As a result, even though Lester Hudson was sitting in the White House, without the support of the Senate and the House of Representatives, he was like a toothless tiger, powerful but useless, and was subject to huge checks and balances everywhere.

If he doesn't compromise with other forces and doesn't obediently follow the centrist path, his orders won't even leave the White House, they won't make a ripple, and he'll ultimately become a puppet in name only.

The elephant camp benefited, but they didn't appreciate Zipperton's actions at all, acting like a shameless rogue who got a good deal but then complained.

Meanwhile, within the donkey's group, a large group of people were dissatisfied with Zipperton, feeling that he was incompetent, made too many compromises with the elephant, and didn't take care of the donkey's side. Their complaints were like mosquitoes buzzing incessantly in summer.

But who could have imagined that this seemingly chaotic situation would inadvertently propel the United States to the pinnacle of its history?

Modern America's industrial development is phenomenal, especially in high-tech fields, where it's incredibly advanced, with all sorts of new inventions...

New technologies are emerging like mushrooms after rain, and the industry is developing rapidly like never before.

Looking at the world, no country can rival the United States. Its overwhelming strength intimidates other countries and even instills a sense of despair that they can never catch up.

It all stemmed from his compromise. The financial backers behind the elephant camp, those industrial and military groups, made a fortune in this wave of development, their pockets bulging with money.

Meanwhile, the technology industry that Donkey is promoting has also entered a period of explosive growth, with an astonishingly fast development speed.

This explains why, in January of this year, when the Lewinsky scandal caused a huge uproar and sparked a nationwide media frenzy, even though Lewinsky was impeached, he was still able to remain firmly in the presidential seat as if nothing had happened.

Ultimately, it's because he brought benefits to everyone, like holding a key of benefit that unlocked the door to tolerance in everyone's hearts.

Otherwise, he would probably have been drowned in spittle and scrambled off the presidency long ago.

But everything has two sides. This seemingly glorious peak was like a hidden trap, silently leading America to a turning point in history and foreshadowing its decline.

He was like someone who opened Pandora's box, not only unleashing the demons imprisoned deep within the American heart, but also inadvertently cultivating his greatest rival.

It's worth noting that China's entry into the WTO was entirely decided by Zipperton.

At the time, no one expected that this decision would lead to a golden age of rapid development for China over the next two decades, gradually transforming it into an important force that cannot be ignored globally, posing a huge challenge to the United States from the outside.

Meanwhile, in China, the US also ushered in an era of frantic borrowing, causing US debt to soar.

Normally, borrowing money requires collateral, just like ordinary people need to use their houses or cars as collateral when they apply for a bank loan.

At that time, the United States, relying on its status as the world's superpower, was so arrogant that no one believed it would breach the agreement.

He discovered that the credit in the United States was so good that no collateral was needed; it was all based on trust, and people could borrow money like crazy.

However, this seemingly successful approach sowed the seeds of a later crisis.

It was precisely because of this unrestrained debt issuance that the dollar debt snowballed, suffocating the United States and making the dollar system increasingly precarious, on the verge of collapse.

Don't assume that the ability to print US dollars at an alarming rate is a good thing. At its peak, more than 30% of global US debt was held by other countries, which gave others the opportunity to short US debt.

With the digitization of the Chinese RMB, Europe, the Middle East, and the United States are all urging China to print more international RMB. Why doesn't China print more?

The fear is that with a large amount of RMB circulating internationally, it could one day be shorted.

The United States has always been the world's hegemon, which is fine. But if it is kicked off its hegemonic position by others, the US debt could cause the United States to collapse instantly, without even a chance to make amends.

However, these are not things Ernst needs to consider now; the United States should remain the dominant power for decades to come.

"As you know, our family are pure Californians, living on this land for generations, deeply rooted here. We spare no effort in supporting California."

Ernst first tried to build rapport, putting on an expression that suggested they were on the same side, and then used California, a major blue state, to express his support for the Donalds' camp to Van Buren.

However, he then changed the subject, his tone tinged with difficulty, "But sometimes even the most skilled cook can't cook without rice. You can't have your own rice jar empty and be unable to make a living, yet you still have to bite the bullet and borrow money to help others, can you?"

Do you want me to pay for the donkey camp?

no problem!

But I can't just give away money for nothing, what benefits will I get in return?

Van Buren was a seasoned veteran; how could he not understand Ernst's implied meaning?

But he made no promises, and even showed a hint of disdain in his eyes when he looked at Ernst.

"Of course we'd be grateful to borrow rice, but we can't just borrow a bowl of rice and return a piece of gold, can we? You know, getting through this crisis isn't something that can be solved with just a bowl of rice."

Ernst didn't care about Van Buren's disdain. He curled his lips into a meaningful smile, picked up the wine glass, and slowly swirled it, as if he wasn't drinking it but carefully examining how much the bottle of wine was worth.

After a moment, he stared intently at Van Buren and asked, word by word, "Tell me, could this glass of red wine be worth thirty million dollars?"

"What?" Upon hearing the figure of thirty million US dollars, Van Buren reacted like a cat whose tail had been stepped on. He instantly abandoned his previous calm demeanor, sprang to his feet, and stared wide-eyed in disbelief.

It's no wonder Van Buren was so agitated and lost his composure; the number Ernst reported was simply too frightening.

In 1998, the technology industry was still in its infancy when it came to political donations; it was practically on the fringes, and few people took donations from the technology sector seriously.

Despite the booming development of the internet industry and the emergence of numerous internet companies that seem incredibly powerful, very few of them are actually making money.

Most companies are still in the cash-burning stage. Let alone donating money to others, they are still begging for donations, figuring out where they can get more money to keep the company running.

Take Microsoft, for example, which ranks first in market capitalization. It is an active participant in this political capital game.

Even a large company like Microsoft only contributed $1050 million in lobbying fees last year.

This year's costs will be much higher because of the impact of the antitrust investigation. Microsoft has no choice but to increase its investment in this area.

Why were Hollywood and Silicon Valley able to rise to prominence in politics and become an undeniable force?

It's because the current Donkey is constantly striving to build a new alliance of diverse financial backers.

Unlike elephants, which can easily raise enough funds simply by relying on large corporate conglomerates without having to put in much effort.

Wall Street alone is simply not enough to meet the donkey's fundraising needs.

In order to gain an advantage in the election, the Donald campaign had to develop multiple fundraising channels, with Hollywood and Silicon Valley being their key potential donors.

Ernst's offer of thirty million dollars completely exceeded Van Buren's expectations, leaving him utterly stunned.

In Van Buren's view, if Ernst could come up with five million dollars today, he would consider it a perfect completion of his mission.

In the last midterm elections, the entire Donald Party raised only $7800 million.

Ernst alone has come up with $30 million, which is nearly two-fifths of the total amount raised by the Donalds in the last midterm election. How could Van Buren not be excited by such an amount?

"Are you sure you're not joking with me?" Van Buren's breathing became rapid, and his voice trembled as he spoke.

He stared intently at Ernst, not daring to blink, for fear that if he did, Ernst would say that he was just joking with him.

Ernst, however, was not in a hurry at all. He continued to stare intently at the wine glass in his hand, as if it were some rare treasure rather than an ordinary drinking vessel.

His movements were slow and unhurried, completely unaffected by Van Buren's excitement.

After a long pause, she slowly spoke, her tone still calm, "I've said before that I'm a helpful person, but the question remains: with our rice jar almost empty, should we still help others?"

He reiterated his demand for benefits, adopting the attitude of Jiang Taigong fishing, waiting for those who are willing to take the bait.

Van Buren was preoccupied with the thirty million dollars and couldn't withstand Ernst's composure. He practically blurted out, "An email tax will definitely be included in the Internet Tax Exemption Act."

After hearing this, Ernst simply took a sip of red wine, savoring it carefully and even smacking his lips twice.

Once the massive donation of thirty million US dollars is made, Ernst will immediately become the biggest financial backer behind the Donald camp, possibly without exception.

In this situation, offering only such a small incentive as email tax to appease a beggar seems rather insincere.

Van Buren wasn't stupid either. Seeing Ernst's unmoved expression, he knew that his promise had been too cheap.

So he sat down again, lowered his head and began to ponder, his brows furrowed so deeply they could trap a mosquito, clearly racking his brains for any other benefits he could offer to satisfy Ernst.

After a while, Van Buren seemed to suddenly have a good idea. His eyes lit up, and he looked up at Ernst, tentatively saying, "I heard Paul is competing for the San Francisco Treasurer position?"

Seeing that Ernst still didn't even look at him with that indifferent expression, Van Buren quickly added, "He will be the next mayor of San Francisco or Los Angeles."

Objectively speaking, Van Buren's conditions are actually quite good.

The mayors of San Francisco and Los Angeles are prominent figures in their respective cities, and in most cases, the governor of California comes from these two positions.

The problem is, Paul is Paul, and Ernst is Ernst.

Ernst was more concerned with what he could gain than with what others could gain.

Seeing that Ernst was still not satisfied, Van Buren also had some doubts, feeling that Ernst was being greedy and trying to swallow an elephant.

But when he thought of the $30 million in funding, he couldn't bear to give it up. The temptation was too great for him, like a person in the desert seeing water.

After hesitating for a long time, Van Buren finally couldn't hold back any longer. He lowered his voice, his tone tinged with dissatisfaction and helplessness, "What exactly do you want?"

Ernst had been waiting for these words. He raised his head, looked at Van Buren with a determined gaze, and stated his conditions: "I want a future seat in Congress, and the Donald Party cannot cause any trouble for my companies on the issue of labor unions."

"That's impossible." Van Buren rejected Ernst's request without hesitation, his tone resolute and leaving no room for negotiation.

Before Silicon Valley and Hollywood became major financial backers of the Donalds, the Donalds' core support base consisted mainly of the financial industry and labor unions.

They rely on these two forces to counter the military, energy, and large corporations behind the elephant camp.

For the Donald camp, the union is a bottom line, an absolutely unshakeable foundation.

This is why labor unions in the United States are so arrogant, constantly opposing their employers, and they don't care even if the company goes bankrupt.

Behind this is not a matter of interests, but more of a game between a donkey and an elephant.

Now Ernst is actually asking the Donkeys to make concessions on the issue of unions, which is undoubtedly touching the Donkeys' bottom line. How could Van Buren possibly agree to that?

There are also congressional seats, which are one of the most valuable political assets in the United States. Getting a congressional seat is not an easy thing. It involves the game and compromise of various forces. It can't be given away just like that.

Ernst had anticipated Van Buren's refusal, so he wasn't angry. Instead, he calmly offered an even bigger lure: "What if PACs could secure at least $30 million in donations for their subsequent campaigns and midterm elections?"

PACs, or Political Action Committees, are the core institutions for the source of soft money in American politics.

Under U.S. law, there are limits on the amount of donations that individual citizens can make to political candidates; they cannot donate as much as they want.

However, soft money is not subject to this restriction under the Federal Election Act of 1974.

These soft funds can be freely disposed of by the national committees of political parties. Although the law explicitly prohibits these funds from directly funding candidates, they can be used indirectly to influence election results through campaigning, grassroots mobilization, and other means.

Later US elections were no longer in an era where traditional money dictated everything; they entered a phase where soft money reigned supreme.

Whoever has more "soft money" will have an absolute advantage in the election; to put it bluntly, whoever has more money will win.

The essence of this phenomenon is actually the systemic failure of the US campaign finance system.

The proliferation of soft money has rendered the Federal Campaign Act, originally intended to regulate election funds, ineffective and unable to exert any binding force.

The end result is that seats in Congress are put up for sale and become commodities that can be bought with money.

To win a seat in Congress, the costs of campaigning, lobbying, and other expenses can easily reach millions or even tens of millions of dollars.

In this situation, in order to raise enough campaign funds, members of Congress are naturally more willing to listen to the voices of their donors than the demands of ordinary voters.

Capital has thus gradually infiltrated every corner of American politics, beginning to truly dominate congressional decisions, which has made the American democratic system increasingly monetized.

However, Van Buren had no idea how crazy the campaign funds would become later. He was already stunned by the endless stream of thirty million dollars Ernst mentioned, his mind was blank, and only the tempting number of thirty million dollars was swirling around him.

After a long silence, Van Buren slowly spoke, "This is not something I can decide, but I don't think he will voice any objections."

Although he didn't explicitly agree, the meaning was clear: he was willing to try to make Ernst's request happen in exchange for this huge donation.

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