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The Hague, Netherlands.
As the name of the Netherlands, an emerging maritime power in Europe, lives up to, the huge port was crowded with people.
and the International Peace Conference.
As it is a place where delegations from all over the world gather to discuss for world peace, one after another, giants got off the port and moved to the conference hall with cheers from the crowd.
boo woo-
Destroyers and cruisers were floating on the seas of The Hague because each country attached warships to the escorts of the giants.
rumble.
We also set foot on the dock of the port, escorted by American warships.
“therefore. Why did I bring you?”
William Rockefeller.
The president of Citibank and the younger brother of Rockefeller. He grunted, but couldn’t take his eyes off the sight of The Hague.
The American people basically had a passion for European culture, so there was nothing they could not understand.
“Didn’t you hear from your father?”
“Yeah, President Morgan just told me to follow you, and you explain it to me.”
“Actually, I do it faster.”
rumble.
I got into the black wagon and closed the door. The coachman swung his whip and gently drove the carriage.
“Chairman, what do you think of the new credit law introduced in the United States?”
“Ah, is that the one that made you mobilize the Internal Revenue Service (IRS) to impose a compulsory ban?”
“…well, yes.”
“If that’s the case, I appreciate it.”
The president of Rockefeller, with a grumpy expression on his face, lit a cigar sullenly. But compliments came out of his mouth.
“Where was the institution that was selected as a national accredited credit rating agency this time?”
“That’s what our hedge funds and Moody’s and S&P are doing.”
Moody’s.
A special corporation founded by John Moody’s. It was established with a 75% stake in me and a 25% stake in Moody’s, and at the same time as the corporation was established, it was approved by the Federal Monetary Commission and registered with the National Credit Rating Organization (NRSRO).
and S&P.
It’s a bit complicated here, but Standard and Poor’s were originally established as separate corporations, but with railroads and non-railroads separated, they did not compete with hedge funds or Moody’s. So the two merged to form S&P.
Here too, my stake is 75% and their stake is 25%. In other words, credit rating agencies were all in my hands.
“Oh My God. It’s a credit monopoly. It’s a tyranny I’ve never heard of in my lifetime. But when you held the handle, market stability came, not tyranny.”
As the president of Rockefeller said, as national credit rating agencies were selected and corporate credit ratings were made, they began to make strict quarterly disclosures, and large banks began to use Korea’s credit ratings as a standard in accordance with the Credit Act.
It also ruled as an absolute standard for transactions between companies that were customers of large banks in a chain.
“Hey, Standard Oil’s credit rating adjusted this quarter. Do you know?”
The president of Rockefeller Bank let out an empty laugh, as if he was stunned.
“It’s an A-class. Class A. Standard Oil, which has established a monopoly in the US market, can’t give aa grade, but grade A? The moment I heard the news, I was worried about the angry President Rockefeller, so I went to my New York home.”
“What was your reaction?”
“You laughed.”
The president of Rockefeller Bank burst into laughter.
That smile contained absolute trust and admiration for President Rockefeller.
“At the same time, he handed me a letter that the credit rating agency sent to Standard Oil with the reasons for the rating in full detail, and the reasons were all understandable.”
The risk of the anti-monopoly law, the domestic market is monopoly, but if you go to the overseas market, the competition between Bra Novel, Royal Dutch, and Cell explodes. Potential for Texas oil fields and threats to powerful emerging oil powerhouses.
They were all filled with understandable reasons, so I had no choice but to accept this.
“I can’t even use my hands or feet. President Rockefeller used his hand, Senator Eldrich, to pass the credit law. In addition, credit ratings and reasons for ratings of all companies are disclosed. JP Morgan Bank has aa credit ratings and hedge funds have aa credit ratings, but none of its affiliated companies have aa ratings.”
In fact, I set the aa standards very high.
Rockefeller lamented rather than lamented, but there was a strange self-confidence on his face.
“Do you know why President Rockefeller is leaving it that way? Do you know why President Morgan or President Carnegie are credit rating agencies and leave them on the rampage?”
“Why?”
“It’s because of Lloyd’s Insurance in City of London.”
Rockefeller continued.
“The advanced financial structure of the City of London has several reasons. An example is a system that is like a city-state independent of England. But City of London prides itself on having one institution, and that’s Lloyd’s Insurance.”
“I have a sense of what you are saying.”
“Yeah, Lloyd’s Insurance is the credit of the City of London itself. Lloyd’s Insurance has never paid a default now, and the premium is calculated accurately and paid to the other party on time.”
“But there was no such pride on Wall Street. Chairman Morgan of JP Morgan Bank? That guy was great too. But rather than the pride of Wall Street, isn’t he the one who shines in himself? He’s kind of like the Emperor of Wall Street. It is not something to be proud of.”
“But the credit law.”
“Not different.”
Waldorf-Astoria Agreement.
Will large banks ever come together and come together to create a sound financial market? Much less, the United States was itself a laissez-faire country that had dominated the era when there was no central bank or was weak.
Pride is a dog horn, and like a wolf, the beasts themselves chased after capital as if possessed.
This novel was posted at https://noblemtl.com
On such Wall Street, the credit law was instilling a strange sense of pride.
“To put it another way, when hedge funds published their credit ratings, there were no complaint calls or complaint letters.”
“That’s great.”
tuk tuk.
The president of Rockefeller threw the dying cigar out the window, took out a new cigar and burned it.
“You turned the beasts into people. You made a new mark on Wall Street.”
I was struck again by Rockefeller’s serious words.
“Everything you say.”
“So, why did you bring me here in the end?”
Whoo-
President Rockefeller asked with a sullen face, but his eyes twinkled.
I chuckled.
“The Credit Act. I would like you to make a proposal at the Hague Peace Conference.”
“…What?”
“Shouldn’t we, Wall Street, play around the world now? Large overseas banks are also sticking out their tongues in our credit law. Foreign media are shouting to the financial world of each country that they should learn our credit law.”
“Well, there was the Morgan family, you moved the Internal Revenue Service (IRS), and this strong castle that was barely completed with your fairness may be possible because we are ‘America’.”
“Yeah, that’s why I’m trying to ratify international credit law to international law. If an international credit rating agency is born, who will be registered first? The jurists of international law are stricter and more impartial than the American legal profession.”
President Rockefeller was amazed.
“…we must be credit rating agencies in the United States.”
“you’re right.”
“And you’re going to make Rockefeller’s suggestion of the credit law come out of my mouth? You are very wicked too.”
The Rockefeller family of Standard Oil, who was hit with an exceptionally grade A credit bomb, proposes a credit law?
There is no more convincing proposal than this.
“Hey, you’re being treated badly as an old man.”
“Haha, listen to me just once. I’m going to put this down in debt.”
“that word. Be sure to watch it.”
“I am the head of a credit rating agency.”
“Puck.”
I raised the corners of my lips at the grunting Rockefeller bank president.
“If it passes, it will probably bring in quite a bit of change.”
***
Netherlands.
A private room at The Hague Conference Hall.
“Secretary Griggs, long time no see.”
Dutch jurist.
Tobies Arthur had a private meeting with US Attorney General Griggs. The Dutch were proud of international law, and Arthur, in particular, was famous for being strict among them, and he was a lawyer with a kind of mission.
“By the way, I wonder what made you want to have a solo session with me.”
“I came to Arthur Jurisprudence today because of this letter.”
Attorney General Griggs pulled a copy of the letter from his bosom and handed it to Arthur.
“What is it?”
“This is a letter that summarizes the topics to be discussed at the Hague Conference. Someone handed it to me, and it seems pretty useful.”
“where…..”
Arthur put on the glasses he had placed next to him and read the letter meticulously. However, as Arthur’s gaze went further down, his expression hardened.
He soon let out a sigh.
“Well…..”
For half an hour, Arthur read the letter over and over again. Attorney General Griggs waited patiently until he had read it all and was convinced.
When he first saw this letter, he read it on the spot, just like Arthur.
The silence grew longer, and the sound of the second hand began to be heard.
tick. tick.
After two hours passed, Arthur finally took his eyes off the letter and looked at Griggs. Arthur’s complicated eyes were revealing his feelings.
“Some genius wrote this down.”
“Haha, how come you have the same reaction as me?”
Attorney General Griggs grinned.
It coincided with his reaction to the secretary who handed him the letter.
But there was no smile in Arthur’s eyes.
It was only then that Griggs realized that something was going wrong.
“Is there something wrong?”
“Problem? There are many problems. First, I will show you the proposals agreed and predicted by our Dutch international law scholars.”
🤩🤩🤩🤩
Griggs opened the document he was handed over and read it. one sentence. one sentence. As he read, Griggs’ eyes grew bigger and bigger, and when he reached the end, his eyes burst open.
“This…..”
“Yes, some of our predictions overlap. But that’s not surprising.”
“then?”
“New provisions added to this letter. These provisions came as a shock to me.”
International Banking Law.
International Credit Law.
International Trade Law.
When the jurists drafted the draft, they thought they had reviewed all the issues related to war and conflict, but they were missing the most important one.
“economy. More than half of international disputes come from money, and more than 99% are born from profit and loss. But it feels like I was beaten with a hammer for not thinking of including these economic provisions in international treaties.”
“okay.”
“Yes. And this picture…”
Arthur murmured as if possessed by the palace picture at the end of the letter.
“Personally, it is my lifelong dream to establish a permanent arbitration court, but how did I know that the owner of this letter is going to build such a wonderful structure.”
“Yes, the name is ‘Peace Palace’ in the Netherlands. Because there was written a request to show it to Arthur Jurisprudence directly in the PS. It is a specialization that we will support all expenses necessary for the construction.”
“…a pioneering vision of the law, a bright sense of the international situation, and the will to somehow pass international law to create a judicial and arbitral tribunal. That’s great. As long as this happens, I can’t stand still. I will roll up my arms so that the agenda of this letter can pass.”
Tak Tak-
Arthur gathered up the correspondence he had received from Griggs and stood up.
“First, I have to convince the Dutch international law scholars to show them this.”
It was a moment when another giant was possessed by Detroit.
***
bang. bang. bang.
“The Hague Peace Conference will be held.”
The Hague International Peace Conference.
Delegations from different countries attended and started the session, but the schedule was set for a long time in the original station.
Tsar of Imperial Russia.
The schedule continued from May 18 to July 29, the birthday of Nicholas II.
Should I say it too?
The contents of the arms race were proposed as the main agenda and began pouring out, and soon the meeting began as a war-related agenda, and a discussion forum was opened.
Among them, the issue that the delegations of each country paid attention to was the dispute between the Spanish delegation and the American delegation.
“Our American River Code is the world’s first established, promulgated, and documented military law on the conduct of war by a legislative body. Wasn’t America’s River Code a military law recognized by all countries?”
“Our Spanish delegation is questioning the neutrality of an international treaty based on the US River Code. I make it clear that I am not skeptical of the famous Dutch jurists of international law, but that we are wary of the ambitions of the United States.”
As the Spanish delegation stumbled over neutrality and rebutted, a blood came out of Attorney General Griggs’ forehead.
“The law code is just the law code. To the American people, there is not a single line written in favor of the United States. All nouns, such as belligerents, prisoners of war, hostages, rebels, deserters, etc., are based on neutral words.”
Griggs’ tone was flat, but his voice grew stronger.
“And just for reference, who said when and when they took this and copied it? The fairness will be recognized and documented through the hands of renowned Dutch jurists of international law, but I think the Spanish side’s opinion is nothing more than to present an objection to the fairness of Dutch jurists.”
The Netherlands’ position in international law is high.
This is because Dutch jurist Hugo Grotius was the first person to establish the foundations of international law and was a giant in the legal world called the father of international law.
The 21st century International Court of Justice is also located in the Peace Palace in the Netherlands.
“…..”
The Spanish delegation was silent.
If you risk more than this, you will only be fighting against international law. All countries agreed to sign an international treaty based on the US River Code, but if Spain continued to stumble and fall, it could only be ignored internationally.
However, the fact that Spain’s voice has been raised up to this point is entirely because the international community was predicting the possibility of the Spanish Empire’s victory.
This novel was posted at https://noblemtl.com
Only two places.
Except for the UK and the US, though.
The peace conference continued, and restrictions on acts of war and atrocities. Only humanitarian provisions, such as the ban on lethal weapons, continued to increase.
“It’s like this too.”
William Rockefeller was disgusted by the atmosphere of the peace conference, as the Detroit director said. A topic gathered for the purpose of reducing the arms race, spending a lot of time on the subject of peace.
After all, nobody wants to disarm. It is a humanitarian treaty, and only the regulations are increasing.
No one wanted to disarm their country.
This novel was posted at https://noblemtl.com
Oh, except Spain.
Spain was desperate to reduce the US armament, but the cause was weak enough to hit only the US, so they should be able to intervene.
“I think now is just the right time.”
This novel was posted at https://noblemtl.com
One evening after the peace conference.
It has already been over a month since the Peace Conference opened. Provisions on acts of war began to be made based on the US River Code, and the flow of the peace conference was clearly in the hands of the US.
William Rockefeller nodded at my words.
“Let’s try to propose international banking law, international credit law, and international transaction law as the agenda for tomorrow’s peace conference.”
ugh-
Attorney General Griggs, who had not stood still, added another hand.
“Your bills. The Dutch jurist Arthur is positively considering it. It is said that it is well-received among jurists in the Netherlands. Maybe tomorrow, Bank President William Rockefeller will put it on the agenda for the peace conference, which will be quite well received.”
But at the cheers of the two, I quietly raised the corners of my mouth.
not.
even without their support.
Even without Dutch and British support fire.
This bill will be passed.
‘I hid a very good bait.’
The fresh bait of imperialism that jurists dark in finance cannot understand. Well, international law is just a cause anyway, but if the British Empire and the United States take that cause, it’s a different story.
These two countries, especially the British Empire, could take a cleaver and shred a fish’s belly if there was a justification.
In that sense, international law or treaty is the most powerful justification at present.
“Chief Rockefeller.”
“Well?”
“I analyzed the agendas to be proposed for the peace conference tomorrow and put them together in writing.”
“Can I read it?”
“Yes. of course.”
🥳-
William Rockefeller took the paper from me and unfolded it. But the more I read, the more Rockefeller’s eyes widened. It’s like he’s surprised why he didn’t notice this.
“…!!! Wait, this.”
“yes.”
I had a smile on my face.
“maybe. If you just do it like this, you’ll be fine.”
“You guys… How far did you come up with this plan?”
I shrugged without answering.
a few months later.
Dreadnoughts will soon be commissioned at the Portsmouth shipyard in England.
The moment when their currency swaps were tied up by international law.
If the dreadnought destroys the Spanish navy.
It will hit the world like a tsunami with almost no time lag.
…the shock of the peso.
＜ countdown. (5) > end
