I Became A Black Merchant In Another World-Chapter 189: Stocks and Capitalism (7)

“No matter what era or world you find yourself in, people generally think the same. Whether it’s people who went bankrupt from speculating on stocks or real estate, or those who lost everything in the Toscanian Empire.”

I’m not trying to make excuses, but unlike Yi Wan-yong, I won’t sell out my own country or betray my nation’s interests.

For someone like me, living in Korea, the worst insult you can throw at someone is to call them "a traitor like Yi Wan-yong."

Making money by destroying your own country and selling it out is not something I would do.

If I had intervened in the real estate market crash and caused even worse chaos, there would have been riots.

‘What if I bought a mansion in the center of Florence for 30% of its market value?’

Land and building prices could have been temporarily lowered to around 30% of their previous value.

But I didn’t do that.

I didn’t want to sell out my country.

Even though the slave trade was a lucrative business that could have lasted for 200 years, I didn’t want to increase the number of victims like Chloe, who suffered from human trafficking.

The profit wasn’t worth it, so I gave it up.

“Of course, I didn’t directly intervene. But I didn’t warn them to stay away.”

Even if I had warned the public, the outcome would have been the same.

The market collapsed, and I would have gone down with it.

So, I looked out for myself, my family (the Visconti Dukes, the Medici Barons), and even cleared a path for the Emperor.

I can’t completely avoid the responsibility of not revealing what I knew.

“Things are really a mess, aren’t they, Sebastian?”

“Yes, fortunately, the Rothschild family has managed to avoid the worst of this crisis.”

I had originally planned to take Chris, Chloe, and Erika with me.

But after the massive crash in real estate prices in the Toscanian Empire, an event that would be recorded in history as the “great panic,” public order had fallen apart.

‘With public order in chaos and beautiful women walking around, this situation isn’t likely to end well.’

While the city guards and temporary defenders (poor people, volunteers, self-enlisted marines) kept their eyes peeled, observing everything...

“I got fired? No, how hard did I work! How did I save up to buy land? This damn world!”

Far off in the distance, a man ran toward the river, apparently intending to throw himself in.

“Better off dead!”

As he tried to jump into the river, church clergy physically stopped him.

“No, don’t let him die. Why are you trying to stop me from dying?”

“Deus forgives all sins, but those who betray the church and those who commit suicide will not be forgiven! The little lamb has gone astray, and we cannot just watch him!”

It sounded like a very religious statement.

The message was clear: anyone who abandons their faith or takes their own life will go to hell, so don’t commit suicide.

But there’s a catch here.

‘The scope of what counts as betraying the church is very vague.’

For instance, if someone exposed corruption in the church, but it hurt the church’s interests, they would be labeled as a traitor and sent to the religious tribunal, where they’d quickly be burned at the stake and sent straight to hell.

What a lovely message, huh?

If you understand the reality, you’d realize that saying there’s such a thing as a “good collaborator” is as absurd as this.

Ugh, these people keep taking my money and making me feel like destroying the church.

“But what should I do?”

“I don’t know. Just survive! Then come with me to confession.”

The priest who had just spoken those lofty words now dragged the would-be suicide victim toward the church’s confession room.

Once inside, the man would confess and be charged with a hefty penance.

Looking around, I saw people weeping and lamenting the end of the world.

“Now’s the perfect time to buy land and buildings.”

Stock market newbies must pay attention to human indicators when trying to avoid significant losses.

When people start rushing into a specific stock, convinced it’s going to rise, whether they’re big players or not...

It means they’re about to sell, as they no longer see profit in it.

When stock prices drop drastically and everyone starts selling, with news flooding in that no one is buying anymore...

That’s when stock prices hit rock bottom.

Real estate is different from stocks, but in the Toscanian Empire, land speculation was rampant.

The principles behind the market aren’t all that different.

“But Baron, with the land and real estate crash, hasn’t the nobility lost significantly? If they go bankrupt, couldn’t you have their land confiscated?”

It’s not impossible.

Being granted a fief means you have control over everyone and everything in that area.

‘You essentially have the power to control judicial, executive, and some legislative matters.’

Of course, legally, you can confiscate someone’s land ownership (or, more strictly speaking, their permanent right to use it).

But the issue is that this is “only written in the law.”

“You do know that confiscation is absolutely impossible, right? The vassals, nobles, and citizens living on that land might rise up in rebellion.”

For anyone with a social standing above a certain level (like citizens), even nobles can’t just confiscate their land or property.

Unless they fabricate some absurd excuse to do so.

That’s because even medieval people, while selective, had a strong sense of empathy.

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‘If someone loses their land without reason, my land might be next.’

It’s like in a company: if one department head gets laid off, I might be next.

So, when something like this happens, people will inevitably unite to protect their interests, which are just as important as their lives.

If a rebellion breaks out in a noble fief, the king might use extreme measures, like confiscating the fief, to strengthen royal power.

If a rebellion spreads to a national level, neighboring countries might send armies to take the land.

‘To avoid this risk, land ownership must always be guaranteed.’

“Now is the time to buy land and buildings. Of course, I’m never going to buy rural land.”

No matter how much the population decreases across the nation, experts agree that land prices in Seoul, specifically in Gangnam, will never decrease.

Even in the Toscanian Empire, while real estate prices may fall, land and property in the capital, surrounding areas, and major cities will eventually recover after hitting rock bottom.

‘Buy low and sell high—that’s the basic principle of stocks.’

With the real estate prices plummeting, I went straight to a real estate office, but the owner greeted me coldly.

“Welcome, sir. Are you here to sell land?”

“I’m Baron Rothschild. I’m here to buy some land.”

With everyone lining up to sell land at low prices, the real estate agent immediately became courteous, bowing to me as if I were royalty.

“Baron Rothschild! It’s an honor for you to visit our humble store. What can I help you with today?”

Seeing how quickly his attitude changed, I could tell he was a true businessman.

I liked it.

That said, I wasn’t about to pay him extra.

“I want to buy land and buildings in Florence proper and the suburbs. Show me what’s available.”

“Land and buildings? Specifically, what kind are you looking for?”

Currently, real estate prices in Florence have dropped by about 45% from their peak.

If this madness settles down, the average price should rise back to around 60-70% of its previous value.

‘Now is the best time to buy.’

Being greedy at this point would be foolish.

“Bring me all the land in Florence that’s 80 pyeong or more, as well as land over 500 pyeong in the suburbs.”

“Understood!”

The agent quickly went inside and brought out a list of available properties.

He showed me the properties that matched my conditions, and I used the funds from selling my remaining real estate to purchase everything I might need in the future.

“I came here in secret. If word gets out, things won’t end well.”

“Of course!”

But I had to make sure he really understood.

I whispered a clear warning to him.

“I have close ties with the chief justice at the High Court, and my wife is the granddaughter of the Duke of Visconti. Do you understand what that means?”

“Yes, yes, of course. I wouldn’t dare say a word if you just buy the properties.”

“Good.”

Since the economic crisis was caused by people selling land at prices lower than market value, if I, someone with unmatched credibility in the market, buy at a slightly higher price...

The sudden depression will end, and the market will enter a “stable recession.”

But if this information spreads widely, people might misunderstand me.

They might think I’m manipulating the economic crisis.

I don’t have the power to do that yet, and if they misinterpret me, the nobility might try to kill me.

For now, I need to pretend to be weak and hidden.

And after a little while, as this great depression began to stabilize...

I decided to start doing something truly crazy.

“The East India Company’s founding begins now.”