When World War II began, capital fled Europe in search of safe havens.
But America's excess production capacity didn't mean it could easily absorb such a massive influx of capital. Or rather, in that era, no single country could handle such enormous sums—capital that amounted to nearly two-thirds of the world's wealth.
The U.S. moving away from the isolationist Monroe Doctrine was, in a sense, inevitable.
Many people had seen this clearly.
At this moment, personally at the airport to greet Leo was none other than French President Charles de Gaulle.
Leo, now a capitalist, stared at the man later lauded as "the last man of France." He reminded himself to tread carefully: de Gaulle was a masterful politician, who had managed to salvage France's dignity even after it surrendered in just 48 days during WWII, leveraging the conflict between East and West to France's advantage.
Despite Leo's caution, he still couldn't resist de Gaulle's persistence and independent maneuvering.
Originally, Leo had intended to conduct only a single roadshow in Paris. But de Gaulle ignored his plans and whisked him from Lille, France's largest northern city, across the country, through Paris, all the way to Marseille, the largest city in southern France.
After touring the country, Leo was most impressed by France's infrastructure, preserved due to its early surrender. This allowed France's national strength to recover far faster than Britain, which had been devastated by the war.
Moreover, long-term stability since World War I had caused a significant increase in the population of marriageable youth, triggering a surge in housing demand.
"Mr. Valentino, France urgently needs a mature, modern construction company like those in America. I guarantee you, this is absolutely a market worth tens of billions of dollars."
The vast market and enormous profit potential tempted Leo, yet he knew that although his company could handle the project, fully digesting such a huge market share was no simple matter.
For old imperial powers like Britain and France, America's top legacy families were like delicacies on their tables. Trying to seize other people's territory inevitably risked indigestion—or even worse, causing serious damage if one tried to swallow too much.
Leo looked at de Gaulle's beaming face and already suspected his intent. It was likely that some of America's old families had expanded too rapidly, harming France's interests, prompting de Gaulle to invite American developers as a counterbalance.
"American Realty currently only has the capacity to operate projects in the Netherlands and Italy. So, I'm afraid I must decline, President de Gaulle."
After this polite refusal, the busy President, focused on reviving France, disappeared.
This lesson made Leo realize just how in demand he had become.
After the roadshow, he decisively left France without visiting other European countries, heading straight to the second European stop—London.
At London's Langham Hotel, Europe's first luxury hotel opened in 1865, whose inauguration had been presided over by King Edward VII.
The American Realty roadshow concluded successfully to resounding applause, completing its planned objectives.
Aside from their strong American operations, European investors' confidence was bolstered by American Realty's near-monopoly over infrastructure projects in the Netherlands and Italy.
Even just that segment of business was profitable, not to mention that private real estate markets in both countries would inevitably be dominated during these infrastructure developments.
Sidney led the team back to the U.S. overnight to determine the final stock issue price and volume based on investor feedback and market conditions.
The stocks were in such high demand that, at the airport farewell, Sidney clasped Leo's hand and pleaded:
"Leo, look, I'm losing my hair over this. Please, issue another two million shares tonight so I can get a good night's sleep. I really can't handle this pressure."
Leo shook his head:
"Sidney, stay calm. I'm sure you'll find a solution before your hair falls out. We all know American Realty's shares will be worth more in the future. Don't worry—future issuances will be entrusted to Goldman Sachs. You have my full trust."
Sidney could only ruefully touch his hair.
"Also, Sidney, tell me—how much did our European trip increase the pricing?" Leo asked.
Sidney's eyes lit up, excited at the thought of future profits:
"Two dollars! Another two dollars up!"
"Well done, Sidney. Keep blasting the market with promotion. Let's aim to surpass forty dollars per share at IPO. For our wealth!"
Leo extended his hand; Sidney shook it firmly, bouncing it twice in excitement:
"For our wealth!"
Humming a tune, Leo climbed into the car driven by MianTiao.
MianTiao, slightly jealous, asked:
"You're in such a good mood—how much did your net worth rise on this roadshow?"
Two dollars per share in just one day meant Leo's wealth surged by twenty million, pushing his total net worth up by fifty million. Naturally, he was in a great mood.
"Don't guess—what's mine is yours too, MianTiao. Now take me back to the hotel; I want to learn dance."
"Hmph, but tax season's coming. This year you'll feel the pain," MianTiao murmured.
Leo heard him clearly, and his brow furrowed. Last year's taxes had been painful. In 1946, with assets under $100 million, he still paid nearly $10 million in taxes despite hiring the best accounting firm and giving substantial charity. In 1947, his wealth skyrocketed tenfold, making his taxes astronomical.
Leo knew the IRS, embarrassed by past losses, was surely eyeing him. The growth of wealth might just be for the tax office—hardly a cause for celebration.
Back at the hotel, his dance teacher, Audrey, awaited in the suite.
Yet her mood mirrored Leo's—unhappy. Even the emerald necklace he had bought her didn't lift her spirits.
Sitting on the sofa, Leo noticed the newspaper on the coffee table and understood Audrey's gloom. Though she had become lead dancer in her troupe, all of Britain's art world knew she had been promoted by an American millionaire.
The British ballet critics, the only European circle still scornful of Americans, ridiculed Audrey relentlessly, mocking the petite stature of a lead in the famed Mary Lambert Ballet Company. Nicknames like "the American millionaire's little partner" spread quickly.
Audrey, sensitive to others' opinions, naturally felt dejected.
The clash of passions—like the smack of a single hand—was never fully satisfying. So Leo, for once, had a quiet personal moment. He recalled Rupert Murdoch's rise: even though Britain was no longer a global power, all Commonwealth countries still respected the Queen and celebrated her birthday. Entering the UK press market meant access to all Commonwealth nations.
Once dominating the UK press, expansion into Canada, Australia, New Zealand, and other Commonwealth countries would follow effortlessly. At that time, it would also be natural to vindicate Audrey and silence those malicious critics.
Leo could have wielded financial clout, but that was a temporary solution, potentially harming his UK business.
Following Leo's orders, small newspapers in the Eastern U.S. acting under the "New Press" model mobilized core staff. Vernon Teague, an early editor and recognized headline expert, led the team to the UK.
Simultaneously, Leo acquired a local UK paper—coincidentally named The Sun.
The European trip, planned for fifteen days, spent a week in France and just three days in Britain.
The remaining five days, Leo planned to fulfill one of his past-life world-travel dreams and contemplate tax avoidance strategies.
He visited Stonehenge, where stones lay scattered like giant toys; he went to Loch Ness, finding no monster. He rode the train over the later-famous Glenfinnan Viaduct, experiencing a Hogwarts-like magical express.
Before traveling to Scotland, a phone call altered his plans, sending him back to London early.
That night, Audrey seemed in better spirits—perhaps the sightseeing helped, or perhaps because he was about to leave.
Leo's ballet lessons finally began.
That evening, he marveled at the artistry of ballet. Arabesque lines were nearly impossible; even pressing close to his teacher, he could not form a straight line. Splits were even more difficult, and Audrey demonstrated repeatedly.
Leo's favorite was still the Craning Crane pose. By the window, practicing with his teacher, he admired London at night.
After a night of practice, Leo realized British ballet critics understood nothing of art—Audrey was clearly talented. He hydrated while savoring the lesson: sublime, indescribable.
Audrey, exhausted, lay in bed, feeling that teaching Leo was harder than performing multiple ballet shows herself.
Despite the exhilaration of battle, Leo remained uneasy.
All the money he had worked so hard for, now so easily at stake—no one could be happy about that.
"Hey, Leo. If you can't drink, just don't."
Leo lifted his head. The scene before him was hazy.
Lucid dreams were based on Leo's memory; with alcohol clouding recollection, his visions blurred. He could no longer tell which drinking occasion this was.
"You little brother, no good, Mr. Li. About that fund transfer channel you mentioned—still usable? Cayman Islands, right?"
The voice was unfamiliar, but Mr. Li was indeed Leo's benefactor, a low-profile, resourceful mining magnate from Shanxi.
Leo lowered his head to the table again, listening silently.
"Cayman Islands? That route's overplayed. Only large corporations can use it safely; small new entrants risk Interpol attention. You really want to go?"
"Of course, big brother. Show me the way."
"This line is Jersey Island, also part of the Commonwealth. Establish a trust company there—taxes are just one dollar a year."
Leo frowned.
"Not laundering, right? I've heard money launderers take up to 70% fees. I don't have your empire's scale; can't afford that."
"You do business properly, why go black market? Max 5% transfer fee. Funds circulate through legitimate banks to your trust account, which is held in a regular London bank," Li explained.
"Really? That easy? Safe?"
"Safe as can be. This channel's been running 60 years. Plenty of wealthy, reputable people use it. Your small amount is just hitching a ride. Don't worry about 5%—you'll recoup that in three years."
Jersey Island, UK. Leo's eyes gleamed in the dark; Audrey slept soundly beside him.
Leo sensed that the person interrupting his vacation was connected to this lucid dream.
The next day, in Langham Hotel's ground-floor café, Leo met Minister of Administration Jim Hawk and his secretary Bernard Woolley.
"Talk. Jim, what huge loss do you claim I can recover? I didn't know I was losing money," Leo asked.
"Leo, remember 1946 taxes? Didn't you hurt back then?" Jim smiled. Leo knew he guessed right.
"So, Jim, do you have a better method than the top accounting firms?" Leo asked, calm yet expectant after last night's lucid dream.
"Leo, two world wars hit Europe. Besides America, which country made a fortune?"
Leo frowned. Jim played coy—a politician's habit.
"Jim, I know it's Switzerland. So just say it."
Jim shrugged. Leo wasn't a subordinate; he wouldn't tolerate lecturing. Jim continued with some regret:
"Switzerland built a complex money channel with private banks, leveraging centuries of trust networks. It's a perfect safe zone, helping wealthy people evade taxes and store black money. But due to war constraints—or simply because Switzerland is small—its capacity is still at late 19th-century levels. World wealth has multiplied countless times. People need new, reliable channels for safe capital flow."
"Why Britain?" Leo asked directly.
"Sometimes even I admire Humphrey's insight in government and international affairs. Britain's sun is setting. The UK needs a new role—creating a reliable, convenient safe zone for the wealthiest nations' capital."
Leo, sharp, immediately understood Jim's meaning: Britain couldn't dominate the world, so it aimed to serve those who could.
"This is a massive project. Each channel requires lawyers, bankers, advisors, accountants, lobbyists, agents. Reputation is key. Switzerland took centuries to build it. Why should Britain think it can do the same?"
Leo was intrigued but had questions. After all, in last night's dream, Mr. Li said the channel had operated for sixty years. Counting back, the Brits likely started this in the 1960s—twelve years from 1948 to full maturity. Leo needed to know whether the channel already existed or was still in early planning.
"London's financial district has the most complete system in Europe. Each bank there has centuries of international trade experience. They can move any funds anywhere. Our scale far exceeds Switzerland's. Commonwealth nations won't do this, but small nations, especially Pacific islands, are influenced by us. We can build a highly complex, interwoven tax avoidance network. Only Britain can achieve this."
Seeing Hawk's pride, Leo mused: such confident subservience—Britain truly has its own national character. Adaptable yet steadfast!
"So Jim, back to my original question: how much money can this channel save me?"
Leo's question cut to the core.
Hawk hesitated, embarrassed:
"Leo, it's not for you, it's for us. I sincerely invite you to join this great project. You're a successful businessman; you know the influence this platform will bring."
"So, you haven't even started?" Leo asked, displeased.
This translation preserves the business, strategic, and narrative tone of the original.