Chapter 705 - 329: Hound of Capital

The top floor of Pittsburgh City Hall, in the Mayor’s Office.

Evelyn Saint Cloud pushed open the office door, her high heels clicking on the floor.

In Philadelphia, she was the de facto head of the Saint Claude Family, a woman who made politicians and bankers line up outside her reception room.

Just a year ago, even Leo Wallace had to travel to Philadelphia every two weeks to see her.

But in just one year, the situation had been turned completely upside down.

Now, it was she who had to fly over the Allegheny Mountains regularly to come to this office and report to the young man sitting behind the desk.

At that moment, Leo was reviewing a funding request from the Public Works Department.

Without looking up, he flipped to the last page and signed his name.

Evelyn walked to the desk and placed a thick file folder on its surface.

"This is the Mutual Aid Alliance’s quarterly financial statement."

Evelyn pulled out a chair, sat down, and crossed her legs.

"The situation is even more staggering than we expected. Across seventy-three electoral districts in Western and Central Pennsylvania, over two million residents and four hundred thousand Union members have linked their medical payment accounts to the Alliance."

"The system’s average daily settlement volume has surpassed three hundred million US dollars."

Leo closed the document and looked up at Evelyn.

"How large is the float?"

"Twelve billion US dollars."

Evelyn’s breath grew heavy as she said the number.

It was a terrifyingly large pool of capital.

The Mutual Aid Alliance collected fixed monthly fees from its members, and these funds went through a settlement cycle lasting several months before being paid out to hospitals and pharmaceutical companies.

This money sat legally in a trust account managed by the Saint Claude Family.

"We’ve used this float to make some moves on Wall Street."

Evelyn opened the folder and took out a chart.

"By positioning ourselves in advance, we shorted and then bought certain assets, netting a profit of seven hundred and forty million US dollars in one week. After splitting the profits, most of it has already been reinvested into Pennsylvania’s infrastructure fund."

An unconcealable fanaticism gleamed in Evelyn’s eyes.

"Leo, we have a money-printing machine on our hands. As long as the Mutual Aid Alliance continues to expand, this interest-free leveraged capital will grow infinitely."

"We can acquire regional banks on the verge of bankruptcy, control the pricing of municipal bonds for the entire East Coast, and even buy out the media conglomerates that oppose us."

Evelyn pressed both hands on the desk.

"You need to lift the administrative restrictions on capital flow and give me full authority over investment approvals."

"The Saint Claude Family’s team of actuaries can double this money within a year. By then, we’ll be able to backstop the entire state budget of Pennsylvania."

Leo leaned back in his chair, listening quietly to Evelyn’s grand vision.

The office was completely silent.

Evelyn gradually began to feel an invisible pressure.

She noticed Leo’s gaze was exceptionally cold, completely unmoved by the tens of billions of dollars in profit.

"Evelyn, you’ve crossed a line."

Leo’s voice was low. Evelyn frowned.

"Leo, this is purely a business operation. Capital only generates maximum value when it flows. We’re partners, and I’m creating more leverage for you."

"You’ve misunderstood a fundamental concept."

Leo sat up straight, lacing his fingers together on the desk.

"In my world, capital does not deserve to have its own business logic. Capital can only have the logic of obedience."

Leo’s gaze felt tangible, pinning Evelyn in place.

"I know what people like you are thinking. You always believe money can buy anything."

"You’re used to manipulating politicians from behind the scenes, using political donations to change laws. You think that as long as you control the economic lifelines, the government is just your security guard and accountant."

Leo picked up the financial statement and casually tossed it into the shredder beside his desk.

The machine let out a harsh, grinding sound as it devoured the papers.

"Look at this city, look at this state. Why are two million workers willing to entrust their life-saving money to you? Is it because of the Saint Claude Family name?"

Leo stared directly at Evelyn.

"They handed over their money because I was the one on the front lines, weathering pressure from Washington, because I used an executive order to force the insurance companies to back down."

"It’s because I hold the votes of eighty state Representatives in my hand, and I can drag any state prosecutor who tries to freeze your accounts into court at a moment’s notice."

Leo pressed his hands on the desk in front of Evelyn, looming over her.

"Evelyn, that twelve billion US dollars of float you’re holding is a fortune in the eyes of Wall Street. But to the FBI and the Securities and Exchange Commission, it’s undeniable illegal fundraising and financial fraud."

"The moment I revoke your political protection today, Federal Marshals will be storming Saint Claude Manor tomorrow morning to freeze all of your family’s assets."

Evelyn clenched her fists, her eyes turning to ice.

’She was used to Leo’s ferocity toward outsiders, but had rarely faced his ruthless pressure on internal allies firsthand.’

"You want to turn the tables and become the master, to use capital to direct my administrative decisions."

"That is absolutely impossible."

There was no room for negotiation in Leo’s tone.

"I place immense value on the Saint Claude Family’s financial capabilities. In the future, I will need you to participate in numerous asset acquisitions and the cleansing of massive funds. I need you to establish a defensive line on Wall Street. You will gain wealth and status beyond imagination."

"But all of this is predicated on one thing: you must understand your place."

Leo extended his right hand and tapped his index finger lightly on the desk.

"In my system, capital is, and always will be, a hunting dog."

"I can feed you meat, give you a safe kennel, but the leash must remain in my hand. When I tell you to bite someone, you bite. When I tell you to stop, you don’t even bare your teeth."

"If you try to bite the hand that feeds you, I will replace you with a new dog immediately. In this world, there is no shortage of greedy capital."

Evelyn bit her lower lip, hard.

’She and the entire Saint Claude Family were already caught deep in this massive political vortex.’

’Their interests were completely bound to Leo’s political survival.’

’Without the protection of Leo’s power, they would be immediately torn to shreds by the established interest groups in Washington.’

She took a deep breath, forcibly suppressing the resentment in her heart.

"I understand."

Evelyn’s calm expression returned.

"Investment approval authority will remain with City Hall. For all major allocations of the float, I will submit a written application to Ethan in advance. The Saint Claude Family will strictly execute the Alliance’s strategic deployments."

Leo watched her, retracting his oppressive demeanor.

"Good."

Leo sat back down in his chair.

"Evelyn, I don’t hate capital. I just hate capital that isn’t under control."

"As long as you understand where the boundaries of power lie, we will be friends forever, and your family’s position in Pennsylvania will be unshakeable."

The tense atmosphere between them began to dissipate.

This was the norm when dealing with power.

Periodic corrections and the reaffirmation of boundaries were necessary to maintain the Alliance’s stability.

Evelyn smoothed out her clothes.

"So, what targets do you need us to acquire next? Since you’ve shot down my investment plan, you must have your own agenda."

Leo pulled open a drawer and took out a new file.

"Go acquire the regional power transmission grids and natural gas pipeline companies that are on the verge of bankruptcy. Don’t worry about the premium."

"I want you to use the Mutual Aid Alliance’s funds to control the physical transmission networks of all key energy nodes in Western Pennsylvania within six months."

Evelyn took the file and scanned it quickly.

"Control the transmission networks? Didn’t we already reach an agreement with the Energy Association? Sterling and his people are providing us with power. Why do we need to enter the field ourselves to buy pipelines and grids?"

"The cooperation is temporary."

Leo’s gaze grew profound.

"Sterling and his people are cooperating with me now because I can bring them massive orders from the Computing Power Special Zone. They’re in it for the profit."

"The moment Washington offers them a better deal, or if the Federal Government intervenes forcefully, these energy giants could turn on us at any time. They control the power plants. If they decide to cut our power, we’ll be in an extremely vulnerable position."

Leo pointed to the power grid topology map in the file.

"The power plants are in their hands, but as long as we control the transmission grid and pipelines, it’s like we have them by the throat."

"The electricity they generate has to pass through our network to reach customers. If they dare to disobey, we’ll cut off the physical transmission channels and let all the power they produce rot in their plants."

"It’s called baseline defense."

Ethan walked in briskly from outside, holding a phone with an active call.

"Boss."

Ethan walked to the desk, his expression serious.

"It’s Sterling on the line, along with people from Google and Microsoft."

Leo raised an eyebrow.

"They’re in Pittsburgh?"

"Yes, their convoy has already entered the city and is heading for City Hall," Ethan reported. "Sterling said on the phone that the EPA is preparing to issue new emissions restrictions. The tech giants are getting restless; their data centers on the West Coast are at risk of a Federal investigation at any moment."

Ethan handed the phone to Leo.

"They can’t wait. They’re demanding to finalize the Computing Power Special Zone agreement immediately, especially the exclusivity clause for direct energy supply."

Leo didn’t take the phone.

"They’re getting desperate."

Leo stood up.

"The tech giants need computing power to maintain their hegemony in the age of AI. The energy giants need massive power-hungry monsters to consume their output. And Washington’s bureaucracy is backing them all into a corner with cumbersome environmental regulations."

"Pennsylvania is their only refuge."

Leo looked at Evelyn.

"Go prepare the funding proposal for the power grid acquisition. The sooner, the better."

Evelyn stood up and put the file in her briefcase.

"Understood."

She walked out of City Hall, her high heels clicking.

"Since they’re in such a hurry to sign," Leo said, turning to Ethan, "contact Frank and have him immediately mobilize an engineering team. Tell them to go to that abandoned open-pit coal mine in the Allegheny Mountains and start by leveling the site."

"At the very least, we need to put on a show for the public, to make it look like construction has already begun on Pennsylvania’s Computing Power Special Zone. I believe that will help those tech companies recover some of their free-falling stock value."