When the Iron Bank envoy finished speaking, the air in the council chamber froze for a few seconds.
Daenerys was stunned.
In her violet eyes, the astonishment had not yet faded, and her red lips parted slightly, as if she wanted to say something, but swallowed it back.
She subconsciously turned her head to look at Luciana.
Luciana had no expression on her face.
She gave a slight nod to Daenerys.
The movement was small, barely perceptible, and then she stepped forward and took over the conversation.
"Envoy," she said in a steady voice.
"This matter involves a massive sum and a complex contract, which is already beyond the scope of the administrative duties currently managed by Princess Daenerys. It would be more appropriate for me to handle the subsequent matters with you."
She turned to Daenerys, her tone gentle but leaving no room for argument: "Your Highness, leave this matter to me."
Daenerys's red lips moved.
In the end, she said nothing, nodded, and retreated to sit beside the main seat.
As she sat down, her hands rested on her knees, gripping them tightly.
Her violet eyes remained locked on the Iron Bank envoy and the unrolled contract.
She knew nothing about this.
Aegon... when did he take on such a massive debt? And used Lys as collateral?
The Iron Bank envoy was not surprised by Luciana's intervention and gave a slight nod: "Very well. Then, Triarch, shall we begin to verify the accounts?"
"According to the contract, the third and final installment of the loan funds was delivered to the designated vault last month."
"According to the regulations, the interest calculated from the arrival of the first installment is now due. I am here to collect the first installment of interest."
Luciana sat down opposite the Iron Bank envoy.
Her gaze swept over the numbers on the contract.
She certainly knew about this contract; Aegon had let her see it before he left.
The contract stipulated that the loan would be disbursed in three installments, and interest would be calculated and collected separately from the date each installment arrived.
She remembered Aegon's instructions before he left for the Western Expedition: if anyone from the Iron Bank came, just send them to Westeros.
At that time, he would personally receive them with his dragons and have a good "talk" with them face-to-face.
It was just that the speed at which the Iron Bank disbursed funds and collected interest was... unusually fast.
It was as if they were desperate to shove the money over and then immediately start collecting the debt.
"Envoy," Luciana began, her tone measured: "Currently, Prince Aegon is campaigning in Westeros, and expenses everywhere are immense; funds are indeed tight.
Regarding this first installment of interest, could you grant us some time? Once the taxes from various places..."
"My apologies, Triarch." The Iron Bank envoy interrupted her.
His tone was flat but resolute: "The rules of the Iron Bank do not allow for delays.
Interest must be paid in full and on time; this is an ironclad rule."
He leaned forward slightly, his shrewd eyes fixed on Luciana.
He slowly revealed his true intention: "Of course, if funds are temporarily unavailable, we can also accept... other forms of compensation."
"For example, using the tax rights of the Port of Lys for a certain period in the future as collateral.
The Iron Bank can dispatch professional officials to assist in managing the Port to ensure that tax collection is... well, smooth."
The fox's tail had shown itself.
Luciana sneered inwardly.
Collection of interest, indeed.
The Iron Bank's true target, from the very beginning, was the city-state of Lys itself.
When Aegon proposed using Lys as collateral, the Iron Bank likely saw a once-in-a-lifetime opportunity.
Lys was one of the nine Free Cities, standing on the Summer Sea, adjacent to Slaver's Bay.
Its trade location and potential value were far beyond what could be measured by the gold coins on the loan books.
If they could legally control this city-state in the name of "debt collection," the long-term returns would be immeasurable.
They had likely long since made up their minds; even if Aegon Targaryen could repay the money, they would find a way to ensure he couldn't.
As long as they could get Lys, it would be a guaranteed profitable deal.
This interest and the tax rights of the Port were merely the first step of their encroachment.
"Envoy," Luciana replied calmly, her expression unchanged: "You may not be aware.
Since Prince Aegon pacified this region, the Three Cities of Lys, Tyrosh, and Myr no longer follow the old system of the Free Cities."
"They have been reorganized and integrated into the Narrow Sea Realm, belonging directly to Prince Aegon Targaryen, and have become a part of his Principality."
"Their political system, tax system, and laws have all been reformed.
The tax rights of the Port, as one of the core rights of the realm, cannot be split off and mortgaged separately.
This involves the overall governance structure of the realm, not a simple commercial asset."
The Iron Bank envoy frowned.
"So, what you mean is—" His voice turned cold, and he tapped his finger on the contract on the table: "Change a name, swap a term, and you think you can welch on the Iron Bank's debt?"
He paused.
"Madam, please be clear.
No one has ever been able to default on a debt to the Iron Bank, nor has there ever been a precedent of an uncollected debt."
"The contract is written in black and white; the collateral is the city of Lys and all its subsidiary rights.
If you continue to prevaricate with such excuses, then..." He paused again.
His tone was threatening: "I think the Fleet of the Sealord of Braavos would be very happy to sail outside the Port of Lys to help us... collect the collateral we are owed.
At that point, I fear it will be more than just a matter of interest."
A naked threat of force.
The air in the council chamber tightened abruptly.
Daenerys's hands, resting on her knees, clenched even tighter.
Luciana, however, did not seem intimidated by this threat.
She met the other's cold gaze and spoke slowly: "Envoy, I believe you are also aware that I am merely the Triarch appointed by Prince Aegon to manage the administrative affairs of this place on his behalf."
"Matters involving changes to the core terms of the mortgage contract, especially major issues such as using the key rights of the realm as collateral, are certainly not for me to decide."
"If you insist, and are so urgent..." She changed the subject: "As it happens, we have a Fleet about to head to Westeros soon, I can arrange a ship for you to travel with the Fleet and go to Westeros in person to meet Prince Aegon."
"At that time, you can negotiate directly with His Highness on how to repay this... special interest."
"Whether you succeed depends entirely on the results of your negotiations with His Highness.
This is more direct and effective than empty talk with me here, or deploying the Fleet, isn't it?"
The Iron Bank envoy stared at Luciana.
His shrewd mind weighed the options rapidly.
The other party was asking him to go to Westeros to meet Aegon Targaryen in person.
This seemed like prevarication, but it was also reasonable.
Moreover, meeting the legendary dragonrider in person might allow for a more accurate assessment of the risk, or perhaps even lead to a more favorable deal.
Staying here in a stalemate or resorting to force were certainly options.
But facing a monarch who possessed dragons carried equally huge risks.
If he could legally obtain the Port rights through negotiation, that was naturally the best strategy.
The silence lasted for a moment.
The Iron Bank envoy finally nodded slowly, putting that shrewd yet calm merchant expression back on his face: "Very well.
I will meet Prince Aegon in person.
I hope His Highness can provide a satisfactory answer."
"Excellent." Luciana rose, "I will make the arrangements immediately.
The Fleet will set sail in three days; please join us at the Port then.
Traveling with us will also be a Red Priestess, Lady Melisandre, who will also be returning to Westeros."
The matter was thus tentatively settled.
Three days later, the Port of Lys.
Daenerys stood on the terrace of the Princes Residence, watching the Fleet gradually sail away from the Port.
Daenerys's expression was complex.
The mounting pressure, the inducements and threats from slave traders, and the relentless debt of the Iron Bank made her realize for the first time, with such clarity, that governing a land and maintaining a regime was far from the simple act of granting freedom that she had imagined.
Money. Force. Schemes. Contracts.
They formed an intricate, cold, and rigid web.
"Do you feel that it's not quite what you imagined?" Luciana's voice sounded behind her.
Daenerys turned and nodded.
Her violet eyes held confusion: "Aegon... he actually borrowed so much money, and even used Lys as collateral.
This... this is truly..."
She couldn't find the right words for a moment.
Luciana walked to her side, also looking out at the sea, the corners of her mouth curling into an extremely faint, almost invisible arc: "His Highness... has never been just one-sided."
She said slowly, her voice carrying a certain depth: "On the battlefield, he is a ruthless Conqueror.
At the negotiating table, he can also be... the shrewdest of merchants.
Or, the most cunning of gamblers."
"Borrowing money, mortgaging, reforming the system... one moment he uses the city-state to get massive funds, and the next he changes the status of the city-state, leaving the creditor with an old contract and nowhere to act.
This move..."
She paused, looked at Daenerys, and a complex light flashed in her eyes, whether it was helplessness or admiration, it was hard to say: "...is truly quite 'dark'."
Daenerys was silent.
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