THE TAINTED TRUST (Volume 2 of The King Trilogy)

CHAPTER 85

         September 2, 1990.

O.P.E.C. announced that it had resolved to lift production quotas, thereby restoring normal supplies of crude oil to world markets. The resolution succeeded in allaying the fears of investors only temporarily.

After an encouraging start, September, 1990 evolved into a terrible ratchet wheel. As the wheel turned, the world's fears and concerns intensified. It became increasingly apparent that Saddam was preparing to invade Saudi Arabia as Iraq's forces and armaments consolidated their positions along the border between Kuwait and Saudi Arabia. It was clear that whatever the outcome of the invasion, the Iraqis would, as a minimum, succeed in knocking out a very significant portion of Saudi oil production. Investors feared the loss of that production could not be replaced by increased production elsewhere in the world and oil prices would skyrocket. Compounding investors concerns were the logistical problems facing the United States and its allies. No matter how quickly they moved to defend Saudi Arabia, it would not be soon enough to stop the Iraqis.

Now desperate, Louis Visconti faced another catastrophic loss with his September crude position, now in the spot month. Like so many investors caught in a loss position, his pride would not allow him to give up. He was in denial and in far too deep. In spite of pleadings from both Kerri and Miles Dennis, he refused to liquidate. Pressure on him mounted as Mike King continued to delay release of the funds in the trust. By the end of the second week of that pressure-filled month, Visconti had begun to receive daily telephone calls from his coconspirators, Phillip and Alfred Schnieder, both anxious to know if Mike had authorized the release the funds.

Kerri found it almost impossible to live with Visconti while simultaneously maintaining the facade of a woman in love. As difficult as it was however, her determination to help her father gave her continued strength. Visconti's betrayal of both Phillip and her father had focused her resolve. It had crystallized it into a personal vendetta.

Strain had also taken its toll on Mike, however he had no choice but to continue into the void of uncertainty. While he worried about the safety of both Kerri and Phillip, he knew his continued inaction would build pressure on both Visconti and Phillip. It was only a matter of time before one of them reached the breaking point. Like vultures, the Feds were waiting and watching on the sidelines, ready to pounce on the first person who blinked. When it finally happened, Mike prayed he could contain or escape the fallout before it engulfed him.

September 13.

Reports abounded in all forms of the media that an Iraqi invasion of Saudi Arabia was imminent. Investment experts, oil industry analysts and politicians were now making public speculations about the price of oil. They predicted it would reach extraordinary heights, with dire consequences for the world economy. For days, Visconti had digested one after another of the predictions. Now approaching the breaking point, he called Assif Raza in a desperate attempt to find consolation. To his shock and horror, Raza again advised him to flee the market. His pain threshold had finally been breached. Bitter and confused, he capitulated, his hands shaking, beads of nervous sweat bathing his forehead. "Get me out!" he demanded of Miles Dennis.

"I can't believe it," Dennis quipped. "The great Louis Visconti is finally waving the white flag. You know you're going to take a big hit."

"I don't give a shit! Just do it!" Visconti shouted, then slammed the receiver into its cradle.

Dennis called Visconti forty-five minutes later. "Louis, we got you out. That's the good news. The bad news was the price."

"What was it?"