The Fox of France

Bovine walked over to Nathan Rothschild with Jérôme, warmly greeting him, "Hey, Nathan, it's great that you could make it."

"Ah, Monsieur Bovine, I think in the whole of Europe, there isn't a banker who could resist your invitation," Nathan Rothschild replied in an exaggerated tone.

"Well, Nathan, let me introduce you to a friend. This is Monsieur André Pizarro, the newly appointed director of our Roman Bank," Bovine said to Nathan Rothschild.

André Pizarro was, of course, Jérôme's pseudonym. Both Joseph and Napoleon did not want him to carry the "Bonaparte" surname everywhere. So now, in the Roman Bank, few people actually knew Jérôme's true identity.

"Hello, Mr. Rothschild," Jérôme said.

"Hello, Monsieur Pizarro, you're quite promising at such a young age," Nathan Rothschild replied. Although he didn't know Jérôme's exact identity, seeing someone so young become a director at the Roman Bank indicated either exceptional personal talent or significant family background. Thus, he offered this complimentary remark without hesitation.

"Nathan, if you're free, let's go over there and have a chat," Mr. Bovine said.

Nathan Rothschild understood that Mr. Bovine might want to discuss something important with him, so he nodded to the others nearby, "Gentlemen, please excuse me for a moment." Then he turned to his wife, "Emma, feel free to explore here. Mr. Bovine and I have some matters to discuss."

The three of them left the backyard and entered a small sitting room. They sat down on the sofa, and Mr. Bovine reached out as if to pick something up from the coffee table, but he eventually withdrew his hand empty.

"Bovine is a chain smoker, and his coffee table just happens to have cigars on it. He's used to reaching for a cigar instinctively, but then he gives up. Mr. Bovine isn't particularly considerate of others. So, with him... the identity of this Pizarro is probably quite extraordinary," Nathan Rothschild thought to himself.

"Nathan, what's your opinion on the current situation of railway stocks?" Mr. Bovine asked straightforwardly.

This question wasn't easy to answer. As an outstanding banker, Nathan Rothschild naturally knew that all railway company stocks, including the French Railway, were significantly overvalued. In terms of price-to-earnings ratio, the stocks of these companies were ridiculously high. Even the stock of the "French Railway Company," which had the least problems, had a price-to-earnings ratio of over two hundred. In other words, if you bought these stocks expecting to break even through dividends, you would have to wait for over two hundred years. With that kind of money, putting it in the bank would be a better option. So, the current railway stocks were purely speculative, a bubble waiting to burst.

From this perspective, the question wasn't difficult to answer. But what did Mr. Bovine mean by asking this question at this time? Was he implying that he was preparing to short the market? That would be a big move. If Mr. Bovine, or rather, if the Roman Bank, started shorting the railways, the collapse of railway stocks in France and even across Europe would be almost certain. At that time, countless investors' bodies might litter the Seine (in Paris), the Main, and the Rhine (in Frankfurt). Even the Thames might not be spared.

If the Roman Bank were a bank like the Rothschild Bank, Nathan Rothschild would have answered without hesitation: "Yes, the stock prices are indeed too high, full of bubbles. Now is a good time to short them."

But the Roman Bank wasn't an ordinary commercial bank. It was a central bank, which meant it had enormous power that other banks didn't, but it also had burdens that other banks didn't. It had to be responsible for the entire economy of France.

If the entire railway stock market collapsed, it might, no, it was almost certain to affect other aspects as well, leading to a potential economic depression. Then, there would be big problems.

So, Rothschild thought for a moment before saying, "The railway stocks are indeed too hot. They need to cool down gradually. Otherwise, there is indeed a risk of a collapse. However, cooling them down gradually is quite difficult to execute."

Rothschild's meaning was relatively subtle. He believed he had grasped the intention of the Roman Bank, which was probably hoping that he and the Rothschild Bank would join hands to gradually deflate the bubble.

Rothschild understood that he couldn't refuse Mr. Bovine outright. After all, if the Roman Bank, or rather, if the military-industrial complex, or even the French government needed to shift blame, could he resist it? Even if he hadn't done anything, with the military-industrial complex controlling so many media outlets, they could still pin the blame on him, trample him underfoot, and prevent him from ever standing up again. So, it was better to accept the blame gracefully.

So Rothschild asked, "So, how do you want us to cooperate?"