Chapter 28: The Bitcoin Diplomacy Dinner
⚠️ Spoiler Warning: This guide contains detailed spoilers for the entire novel. Proceed only if you've finished reading or are comfortable knowing the plot.
Summary
At 6:00 PM on the evening of the chapter, Catherine is at her Luxembourg château preparing for a diplomatic dinner. She has changed into a pale-blue evening gown, wearing her styled hair down and selecting pearls as her accessory. The evening appears informal but carries great weight: the Mexican finance minister, Benito Gómez Farías, is her guest, and together they are set to finalize a plan that has taken years of lobbying and bribery.
Catherine recalls her journey from a senior bank administrator to first chair of the Bank of St. George’s consuls. She reflects that no one truly knows her, but she has now solidified her own identity with no apologies. She receives word that Kyra Lhota is returning via private jet and that Kelly is in Japanese custody. Catherine plans to use the Japanese demand for a deal as leverage for a strike against them, though she intends to give nothing.
When Farías arrives, Catherine pours champagne and they discuss the progress of Mexico’s legislation to adopt bitcoin as legal currency. Nine Central and South American nations have already done so, six making bitcoin their reserve currency—a revolutionary move away from the U.S. dollar, which has dominated since the 1944 Bretton Woods Agreement. Catherine recounts how the dollar lost its gold backing in 1971 and has since declined in value. The Bank of St. George now offers bitcoin as a third reserve option.
Farías reports that a vote in the Mexican Congress is expected early next week, with nearly three‑fourths of the 628 members in support despite a distracting protest by one legislator who stripped to his underwear. Catherine is pleased; the bank financed the legislation and an accompanying educational campaign. She leads Farías to dinner, toasting “Screw Washington” as they celebrate Mexico’s coming financial independence.
Key Events
- Catherine dresses formally and prepares her château for an important diplomatic meeting.
- She learns that Kelly is in Japanese custody and that Kyra Lhota is en route from Siberia.
- Catherine receives Benito Gómez Farías, Mexico’s Secretary of the Treasury and Public Credit.
- They drink champagne and discuss the Bank of St. George’s success in persuading nine nations to adopt bitcoin as legal currency, six as their reserve currency.
- Catherine explains the historical decline of the U.S. dollar after the end of gold convertibility in 1971.
- Farías confirms that a vote in the Mexican Congress is imminent, with strong support despite a minor protest.
- Catherine and Farías toast to freedom from the United States.
Character Development
Catherine is shown as the consummate political operator: calm, deliberate, and expert in the “jargon of power.” She controls the narrative, uses charm and hospitality to ease negotiations, and reveals little of her inner self. Her introspection about knowing exactly who she is suggests a hardened resolve. Her readiness to sacrifice Kelly and strike against the Japanese underscores her ruthlessness. She is both gracious host and cold strategist.
Benito Gómez Farías appears confident and aligned with the bank’s goals. He is pragmatic, having navigated a fractious coalition of eight political parties, and dismissive of the lone protester. His toast to “Screw Washington” solidifies his commitment to breaking from U.S. monetary dominance.
Themes, Symbols, or Motifs
- Financial Sovereignty: The chapter’s central theme is the pursuit of national independence through economic means. Mexico’s adoption of bitcoin is portrayed as liberation from U.S. dollar hegemony, echoing the bank’s broader ambition to reshape the global financial order.
- Power and Persuasion: Catherine’s manner—her smile, her choice of venue and food, the sharing of champagne—symbolizes the soft power she wields. Behind the elegance lies bribery and manipulation, illustrating how political outcomes are engineered through both charm and coercion.
- Symbols of Wealth and Control: The château, the Louis XIV furnishings, the Turkish rugs, and the Louboutins all signify the obscene wealth that enables the bank’s influence. The popping champagne cork and the toast mark the sealing of a deal.
- Historical Irony: The recounting of the Bretton Woods system and the dollar’s collapse into floating exchange rates serves as a cautionary tale about the fragility of reserve currencies, reinforcing the argument for bitcoin.
Why This Chapter Matters
Chapter 28 is a turning point for the Bank of St. George’s long‑term plan. It reveals the concrete progress of the bitcoin campaign in Latin America and signals that a major economy—Mexico—is about to join. Catherine’s private meeting with Farías shows the bank’s hands‑on role in drafting legislation and financing propaganda, moving the plot from abstract conspiracy to tangible action. Meanwhile, the parallel thread of Kelly’s capture and the Japanese threat introduces a cross‑pressure that will likely force Catherine to execute her ruthless side. The chapter also deepens Catherine’s characterization, showing her as a confident, amoral agent of change.
Study Questions and Answers
1. What historical event does Catherine cite to explain the decline of the U.S. dollar as a reliable reserve currency?
Catherine references the 1971 decoupling of the dollar from the gold standard by President Richard Nixon. She explains that prior to that, the dollar’s value was backed by gold, but after massive printing to fund the Vietnam War and Great Society programs, the gold backing diminished, leading to floating exchange rates and a long‑term decrease in the dollar’s purchasing power.
2. How does Farías describe the political support for Mexico’s bitcoin legislation, and what incident occurred during the debate?
Farías states that nearly three‑fourths of the 628 members of the Mexican Congress support the measure, despite the government being composed of eight political parties and independents. He mentions that a representative stripped to his underwear and shouted a protest, accusing his colleagues of being unashamed to see the people suffering while they kept their wealth. The incident made headlines but did not sway any votes.
3. What is Catherine’s intention regarding the Japanese demand for Kelly?
Catherine has no intention of surrendering anything to the Japanese. Instead, she plans to use Kyra Lhota to strike at the Japanese, with the timing and location to be determined during the bargaining process. She sees Kelly as a pawn to be traded for tactical advantage.