Aegor did not invent finance, but many years ago, when he first arrived in King's Landing and persuaded Tyrion to issue Night's Watch Bonds with him, he combined the two simple ideas of gold and liquidity into a new term, adding the concept of "finance" to the vocabulary of the Common Tongue of Westeros.
No one could have predicted that a new concept coined by a Night's Watch recruit to coax a patron into joining him would, after many twists and turns, eventually become the name of a major street in King's Landing.
On the broad avenue in the eastern half of the capital of the Seven Kingdoms, connecting the city center to the Steel Gate and running through the entire former Flea Bottom district, now known as "Finance Street," or more vividly, "Goldflow Street," the bustle today far exceeded that of previous days. Newsboys shouted at the tops of their lungs, excited crowds pressed shoulder to shoulder, and the onlookers and participants surrounding the transaction boards were packed together almost head-to-head.
Braavos, that powerful city-state distant and mysterious to most Westerosi, had undergone internal upheaval after more than half a month of blockade and relentless bombardment by the Targaryen navy. The first act of the City-State War Council, after seizing power, was to announce its surrender to Queen Daenerys and accept all her terms. From that point onward, it was incorporated into the Targaryen Empire, becoming the True Dragon Dynasty's second overseas territory in Essos.
Ten thousand years ago, the First Men crossed from the eastern continent into Westeros by way of the still-unbroken Arm of Dorne, seizing the coasts, plains, grasslands, mountains, and swamps from the Children of the Forest;
Thousands of years ago, the Andals sailed west across the Narrow Sea and landed on the coast of the Fingers, shattering the peace the First Men and the Children of the Forest had achieved through their Pact, and occupying all the lands south of the Neck;
More than three hundred years ago, House Targaryen, stationed at Dragonstone as an outpost of the Valyrian Freehold, left the Freehold riding true dragons, landed where King's Landing now stood, and began the conquest of all the Seven Kingdoms, whether ruled by First Men or Andals...
The significance of the declared establishment of the Targaryen Empire and the victories in the wars against Volantis and Braavos was not merely that Daenerys had defeated the slave masters. For the first time since the dawn of recorded history, forces from Westeros had struck eastward into Essos and gained the upper hand.
However, the countless people gathered before the transaction boards on Goldflow Street were not there to celebrate the first time in the history of the world of ice and fire that the western wind had overwhelmed the eastern wind. They had gathered because, with news of Braavos's surrender reaching the port, the prices of countless goods and commodities connected to the national economy, people's livelihoods, and the war, whether spot goods, futures, or state-backed financial products, were certain to fluctuate sharply. Everyone wanted a share of the action, or at least a little profit from the frenzy.
Trading naturally brought joy to some and sorrow to others, but those gathered here today were certainly not leaving empty-handed. At the very least, they could witness another historic moment.
A public ladder was moved beneath one of the less frequently altered notice boards, and a young man in work clothes climbed up, took out his tools, and began making a long series of changes.
More than three months after formal trading opened, the Targaryen national debt, once mockingly nicknamed "Daenerys's IOU," finally took that crucial step in its resale price, soaring upward and breaking through its face value in one leap.
...
With true dragons as mounts, Aegor was able to arrive at the same time as the news despite leaving later, entering King's Landing ahead of the half-fleet returning with him.
Therefore, in stark contrast to the overflowing joy and extraordinary liveliness in the streets and alleys, on Visenya's Hill, within a quiet, private, and secure courtyard in the former Great Sept of Baelor, inside Daenerys's temporary palace before the reconstruction of the Red Keep was complete, the Hand of the Queen, Aegor West, sat before the esteemed Empress Daenerys Targaryen while most citizens were still unaware, personally recounting his "Braavos War Report" to her.
"Whether it was the intelligence gathered from various sources or the analysis and judgment made by myself and the other officers in the command post, everyone agreed that the Braavosi would resist to the end rather than surrender at the sight of our forces. To avoid losing our valuable sailors and artillerymen, we decided to clear the way with bombardment. On the first day after our arrival, the fleet concentrated its fire and brought down the Titan at the entrance to the Braavos lagoon, destroying the enemy's main observation platform and the only fortress capable of threatening the fleet. Then, after confirming that there were no ambushes on the atoll, the entire fleet advanced, bringing the city itself within range."
"We used tethered hot-air balloons as fixed artillery observation posts to report shell impact points while also drawing the enemy's attention. At the same time, we sent birds controlled by wargs deep among the inner city's islands to observe the defenders' ships and troop movements. After completely flattening the arsenal guarding the entrance with saturation fire, the entire fleet approached the atoll. While steadily clearing away the stone-filled merchant ships the defenders had scuttled at the entrance, we continued bombarding the northwestern districts of Braavos within range under guidance."
Daenerys nodded, signaling for him to continue.
Spring in the world of ice and fire was very short, and King's Landing, as a large city, entered summer somewhat earlier than most places in the Seven Kingdoms. Since this was a private meeting rather than a formal audience, the Dragon Queen reclined on a lounge chair covered with ice-silk cushions, wearing a light silk slip dress suited for the heat. Large areas of the fair skin of her arms, neck, and legs were exposed. Even though he had received R'hllor's gift and could resist the natural charm of dragonblood, Aegor still found his gaze and attention involuntarily drawn toward her from time to time.
"On the third day, the fleet cleared the passage between the Titan's legs, and on the fourth day, it formally entered Braavos's saltwater lagoon. We did not consider landing operations or entering the narrow waterways between the hundreds of islands of varying sizes. Instead, we remained close to the inner side of the atoll and moved around the broad outer ring of the lagoon, covering the city layer by layer with artillery fire from the outside inward. Drowned Town, the Purple Harbor, the Sealord's Palace... and most importantly, the Sweetwater Canal." Aegor slightly raised his voice. "Your Grace should know that the so-called saltwater lagoon where Braavos stands is really only seawater from the Narrow Sea and cannot be drunk directly. Because of this, the city's early builders constructed a raised aqueduct, like a stone bridge spanning above the houses, to carry fresh water from the southern mainland across swamps and shallows into the city center. We destroyed a section of the Sweetwater Canal with cannon fire, which was the same as cutting off the city-state's freshwater supply. Although the Moon Pool held large reserves, Braavos now has hundreds of thousands of inhabitants."
"Once we adopted targeted tactics, Braavos's seemingly divinely blessed geography instead became a curse. There was nothing especially noteworthy about the rest. The fleet continued leisurely bombarding every military installation in Braavos while repeatedly issuing ultimatums demanding surrender. The defenders devised several reckless counterattacks, but under the wargs' reconnaissance, they could not ambush anyone. To prevent them from organizing large-scale night attacks and causing unnecessary losses to the fleet, I even ordered a temporary camp and artillery fort rebuilt on the ruins of the arsenal to guard the city-state's entrances and exits. Every morning, the fleet entered the lagoon through the gap to begin the bombardment, then calmly withdrew before sunset under the protection of the arsenal battery... This steady back-and-forth became as regular and orderly as workers reporting for a day shift at the Industrial Park. It continued for ten days. After suffering only single-digit casualties, while the enemy lost its freshwater supply and saw no hope of victory, they could no longer hold out. With the encouragement of our hidden allies, internal chaos finally erupted."
(To be continued.)