Episode Summary
Robert reveals a Japanese plot to flood the market with unbacked currency before dying. Sawa Eisaku holds He Xian and others hostage in a clinic to prevent the news from leaking, causing the Chinese merchants to lose a fortune when the market crashes. The Japanese gain control of Macau's finance, but He Xian devises a plan to trick Ogata into inflating the currency again by using a rumor about a rubber shipment.
Spoiler Alert
The Clock Ticks at Kiang Wu Hospital
He Xian is trying his best to keep a straight face. He knows Qiao Renyu is working for the Japanese. He doesn't want Qiao Yinwan to know. But he can't keep the act up for long. Yang Chang shows up in a panic. They have to get to Kiang Wu Hospital immediately. Robert is in bad shape.
They arrive to find a chaotic scene. Ke Lin is practically pumping Robert full of adrenaline just to keep him lucid. He tells everyone to ask their questions fast. He also spots blood on the floor. He knows the Japanese military will track them down. He tells Yinwan to make two calls. First to Luobo. Then to the Macau-Portuguese police.
Robert uses his dying breath to drop a massive bombshell. The Japanese forced HSBC to issue 120 million in new Hong Kong dollars. There is zero gold reserve backing this cash. It is worthless paper. Once this flood of money hits the street, the Japanese will declare the currency invalid. The Hong Kong dollar is about to become trash.
Sawa Eisaku plays the villain
He Xian grabs the phone. He needs to warn Ma Wanqi. Sawa Eisaku walks in and cuts the line. He isn't there to chat. He locks the place down. No one leaves the clinic. He needs to suppress this news.
Outside, things get messy. Huang Gongjie and Yang Chang are ready to fight. The police show up, but they are terrified of Sawa. They don't lift a finger. Luobo arrives with a pack of reporters. Sawa changes tactics. He can't just arrest everyone with the press watching. He makes up a lie. He claims he needs to perform an autopsy to determine the cause of death. He says no one leaves until 5 PM.
Inside the clinic, the tension is suffocating. He Xian and Yang Chang watch the clock. They know the market is open. Every minute they stay trapped is a disaster for the Chinese merchants. Luobo tries to argue. He demands they be allowed to call their families. Sawa shuts him down. He claims it is a "necessary investigation." He warns Luobo that if the police let anyone go, he will accuse them of harboring a murderer.
The Market Bloodbath
The scene at the exchange is painful to watch. Ogata Yozo is up in the gallery like a hawk. He watches the Chinese businessmen panic. The rate hits 3.36. Four Chinese banks throw everything they have into the pot. They are trying to hold the line at 3.40.
Ogata is playing a cruel game. He buys small amounts to give them false hope. Then he dumps stock to scare them. He baits them into spending every last dime. Boss Lin and Lu Xiuyuan empty their accounts. They think they can win.
It all falls apart in the final hour. Rodrigues is sitting with Liang Yanming. He has the pen in his hand. He is about to sign the contract. The phone rings. The market crashes. The rate smashes through the floor. It drops below 3. It freefalls to 2.6. The room goes silent. The contract sits on the table, unsigned. The Chinese merchants have lost everything.
Picking Up the Pieces
Sawa gets the news. The market has crashed. He suddenly decides the "autopsy" is over. He releases everyone. He Xian finally gets to a phone. He calls Dafeng Bank. It is too late. The Macau financial system is in ruins. Dai Sile runs the numbers. The Specie Bank is now the only game in town. They control the money. They control the trade.
Sawa goes to congratulate Ogata. Ogata is cold. He isn't satisfied with a small win. He wants to dump the full 120 million. He has a new plan. He will use the worthless Hong Kong dollars to buy up real goods. He wants to buy resources and Guangdong silver coins before people realize the paper money is garbage.
The Counter-Attack
He Xian goes home feeling defeated. He realizes he left his jacket at the clinic. That jacket has the newspaper proving Qiao Renyu is a traitor. He rushes back. He is too late. Yinwan has the jacket. She also overhears Liang Yanming and Ma Wanqi talking. She knows her brother is working for the enemy. She refuses to believe it.
He Xian spots a photograph. It shows Yinwan standing with the "Rubber King," Li Guangqian. A lightbulb goes off. He calls He Hongshen. He tells him to feed a lie to Saito. The lie is simple. Tell Saito that Rodrigues has the missing shipment of rubber.
Ogata takes the bait. He needs that rubber for the war effort. He can't let the Chinese keep it. He changes his strategy. He decides to pump the Hong Kong dollar back up. He needs the currency to be strong so he can buy the rubber cheap. Only then will he let it crash for good. He Xian just bought them a fighting chance.
