Forging America: My Campaign Manager is Roosevelt

Chapter 393: Chapter 184: Snowball

"So to stop her from taking us over, you decided to withhold our money first?"

"What’s the difference?"

Smith let out a cold laugh.

"Suspending redemptions is a death sentence for me."

"We need to see the money. Now."

Leo’s fingers tightened slightly around the receiver.

He knew the crucial moment had arrived.

For an old fox like Smith, who had been wallowing in the muck of local politics for decades, empty promises were useless. He needed to see real chips on the table.

"Ron, I know the difficult position you’re in."

Leo gripped the receiver tightly.

"That’s why I’ve prepared a compensation plan."

"Effective immediately, all notes for which redemption has been suspended will retain their legal tender status. Furthermore, to thank our allies for their trust during this special period..."

"Any city account that holds these notes without cashing them in will receive an additional five percent holding bonus in six months."

"Five percent?" Smith’s voice changed. "Are you talking about interest?"

"You can call it interest, or you can call it a bonus," Leo said. "The money will be allocated directly from Pittsburgh’s fiscal surplus. This is my compensation to you all."

"Five percent..."

Smith quickly calculated in his head.

For a municipal treasury, this was an almost unbelievably high rate of return.

The current Federation benchmark interest rate was pitifully low. The number Leo was offering was essentially a high-interest bid to attract deposits.

"Where are you going to get the money to pay this interest?" Smith keenly sensed something was wrong. "If your cash flow is fine, why would you offer such a high interest rate to stop us from redeeming? Leo, are you running a Ponzi scheme?"

"This isn’t a scheme. It’s about buying time."

Leo replied, "Ron, you need to see the situation clearly. If you all rush to cash in now, you’ll be playing right into her hands. She’ll buy up the notes from you at an extremely low price and then turn around and take control of your cities."

"By suspending redemptions, I’m protecting you from being devoured by the crocodiles on Wall Street."

Leo once again took aim at that greedy woman.

"As for where the money comes from?"

"Don’t forget John Murphy."

"His polls are already ahead across the entire state. As long as he wins the election and secures the Senator’s seat, he’ll push the new *Regional Economic Recovery Bill* in Washington."

"When that happens, Federation funding will pour in like a flood."

"We’re talking billions of dollars."

"Paying you that little bit of interest will be a drop in the bucket."

"The current difficulties are only temporary. As long as we can hold out for this one month, until Murphy wins the election, all of us will get rich."

"But if the alliance falls apart now, if you cause a stampede out of panic..."

"Then Murphy will lose, I’ll go bankrupt, and as for you..."

Leo said coldly.

"You’ll be devoured by Evelyn Saint Cloud until not even the bones are left."

"You can either stick with me through these hard times, take the five percent interest, and wait to divide up the Federation’s cake later."

"Or you can jump ship now, only to drown or be eaten by sharks."

"Ron, you’re a smart man. You know what to choose."

The sound of a lighter sparking a cigarette came from the other end of the line.

Smith was smoking.

It was a habit of his before making a major decision.

Leo didn’t rush him, just waited quietly.

’I’m using future money to buy my life in the present.’

’I’m using a bigger bubble to contain the one that’s about to burst.’

But he had no other choice.

Only by tying everyone to this war chariot could he keep it from overturning.

After a long while, Smith exhaled a cloud of smoke.

"Leo, you really are a son of a bitch."

The tense aggression in Smith’s voice was gone.

"You’ve taken us all hostage."

"The feeling’s mutual," Leo replied lightly. "We’re all grasshoppers on the same rope."

"Five percent isn’t enough."

Smith said suddenly.

"I want seven percent."

"And I want you to sign a memorandum. If Murphy is elected and the Federation funding doesn’t arrive within six months, Pittsburgh must use the Phase Two equity of the Inland Port as collateral to redeem our notes."

This was Smith’s cunning.

He accepted Leo’s logic, but he wanted to raise the price and demanded a guarantee.

Leo calculated in his head.

Seven percent would dramatically increase Pittsburgh’s financial pressure.

The Inland Port equity was his core asset.

But right now, survival was the top priority.

As long as he could lock up the liquidity of these notes, as long as he could stall for time, there was still a chance for everything to turn around.

"Six percent."

Leo haggled.

"I can agree to the equity collateral, but only on the condition that the Federation funding completely fails to materialize."

"Deal."

Smith agreed without hesitation.

In truth, he hadn’t really wanted to push Leo to his death.

He needed something to show the cities under him, and he also needed a way to save face.

Six percent interest, plus the guarantee of the port’s equity, was enough for him to go back and placate those panicked mayors.

"I’ll tell them this is to fight back against a conspiracy by Wall Street and Philadelphia. That we must stand united."

Smith switched roles, once again becoming the staunch ally.

"But Leo, you’d better pray that Murphy wins. If you dare to lie to me, I’ll personally drive a truck through your city hall."

"Don’t worry, Ron," Leo said. "We won’t lose."

The call ended.

Leo felt his back was a little damp.

He put down the receiver and looked at Sarah and Ethan, who were standing to the side.

Tension was written all over their faces.