Chapter 321

The two quickly understood why Arya had run.

The Stark soldiers “arresting” their own lady dashed past them like a gust of wind. This felt so out of place to Nina that she almost forgot what she’d been saying. “Arya… wasn’t she always close to you, my lord? Why are you driving her away?”

“She was close, yes. But you need to understand—getting too involved with a noble’s child can be such a headache,” Aegor explained with a faint smile. He truly liked Arya, but this wasn’t about personal feelings. “She’s helped me plenty, and now she’s getting older, starting to remember things. It’s hard to push her away directly. Lately, she’s been driving me up the wall. Your arrival this time, I must say, was perfectly timed.”

“Uh…” Caught off guard by the compliment, even someone as composed as Nina felt a little unsettled. A vague worry crept into her mind—had she unwittingly offended the Stark girl? But then again, she didn’t need to deal with the Starks. Whether Arya liked her or not hardly mattered.

Pointless worries were quickly dismissed. Within half a minute, Nina had tossed the matter aside and, after a few seconds, returned to their previous conversation before Arya’s interruption. “Still, my lord, you don’t need to overthink it. People above were concerned the Florents were plotting something, but I picked up on it early. In reality, they haven’t yet applied real pressure or taken action. For now, I’ve stepped away to let things cool down. By the time I return, word of your election as Lord Commander will have spread. Whatever plans they have, they’ll have to account for you, the ruler of the Gift, and show some restraint.”

She paused briefly, sighing. “Let’s leave the troublesome stuff aside for now. After you left King’s Landing for the Wall, the Night’s Watch repeatedly requested funds and supplies from the businesses. While it’s true that the Watch’s industries exist to support the garrison, not everyone shares that high sense of duty. The prolonged requests without any personal presence—just letters asking for this and that—led to growing suspicion among the senior staff. They began speculating that you’d been placed under the Watch’s control. The rumors only intensified with time. I considered heading north to confirm your safety and freedom on several occasions but held back, knowing I couldn’t save you if the rumors were true. Instead, as a woman, I’d only complicate matters for you. I didn’t relax until your election news arrived, and I finally arranged this trip.”

Aegor listened, a touch of guilt tugging at his heart. Though she mentioned it casually, the mere hints revealed the immense pressure Nina had faced. For over a year, this young woman, barely in her twenties, had managed a vast estate on her own, enduring both external threats and internal strife—all while carrying the weight of worry and longing. Aegor, as a man, could only imagine such burdens; he’d never truly understand them.

“You’ve all overthought it. The Night’s Watch and even the North are nothing like the South. Sure, there’s internal politicking, but compared to the Seven Kingdoms’ court, it’s as clean as fresh snow.” Aegor pulled her closer, gently caressing her slender shoulders with affection. “But you’re right. I didn’t consider things thoroughly. I’ve troubled you greatly. Let’s not dwell on formalities between us. From now on, you’ll never have to fear or worry again. You can rely on your man’s protection.”

“Mm.” Nina let out a barely audible hum. After observing him closely, she finally confirmed that Aegor was not only safe but thriving, his influence on the Gift far-reaching. “Aside from missing you terribly, my main reason for coming here was to explain things in person. Everyone’s thrilled about your election, but unfortunately, the Watch’s industries can no longer provide additional funds for celebration or support. I’ve brought detailed records of all activities, revenues, and expenses over the past two years. While there’s been some minor corruption and judgment errors causing losses, I’ve marked them as clearly as possible. If you have questions, ask me, and I’ll explain everything.”

“I’ll take a look when I have time. Just leave it in my room.” Aegor nodded, playfully tapping her nose. “But let me correct you—when you say you missed me, don’t mix it into a bunch of other things. Say it clearly, as its own sentence.”

Nina’s recently recovered composure turned crimson again. With her familiar closeness restored to the man she admired most, she abandoned pretense and coquettishly replied, “Fine… but you figured it out anyway.”

…

After finishing the crucial reports, the two exchanged a few teasing words. Knowing most of the men in the Gift’s settlements wouldn’t appreciate their public affection, they decided to save their private talks for the evening.

Aegor understood that Nina’s visit wasn’t solely driven by personal feelings. Procedurally, as the leader of the Night’s Watch and head of its industries, it was inappropriate for her to merely send a letter or messenger regarding the funding shortfall. Her personal explanation was necessary, both in terms of propriety and respect.

Still, Aegor wasn’t surprised or disappointed by the situation. The Night’s Watch industries were significant compared to individual households but far from sufficient for the grander ambitions he harbored. Sustaining a mere few hundred men guarding the Wall was manageable, but now he had thousands of wildlings and new settlers. Arming them, establishing a military-industrial complex, and securing absolute loyalty would require an astronomical amount of funding.

“Right now, things are stable, but as our plans expand, the money we need will grow exponentially,” Aegor explained. “To cover that, I’ve already mortgaged the industries’ assets tied to the Watch in negotiations with the Iron Bank. So, I’ll need to borrow more.”

“Borrow? From where?” Nina asked.

“The Northern lords looted plenty during their campaigns in the Westerlands—tens or hundreds of thousands of gold dragons, perhaps. They aren’t putting it to use sitting in their castles. I plan to visit them personally, one by one, and negotiate loans. I also heard Tyrion set up some kind of ‘Lannister Bank’ in the Westerlands. You’re well-connected in King’s Landing. Tell me what you know about it.”

“Oh, that’s easy. Because of business ties, I kept in touch with Lord Tyrion after you left King’s Landing,” Nina said, her tone lightening. “It’s fascinating how quickly the Westerlands rebuilt after the war, but to understand the Lannister Bank, you need to consider the unique dynamics of the Westerlands compared to the other kingdoms…”

…

The Riverlands, Stormlands, North, Vale, Reach, Dorne, and even the Crownlands all followed a similar power structure—

A great house at the top, ruling over a number of strong vassal lords, each with their own lesser bannermen and minor houses beneath them.

But the Westerlands were completely different.

Unlike the other kingdoms, where power was somewhat decentralized, the Westerlands were ruled under a singular, absolute authority—House Lannister, with every other house reduced to little more than glorified vassals.

This wasn’t natural.

Historically, the Lannisters had been like every other great house—strong, yes, but not overwhelmingly dominant over their lords.

Not until Tywin Lannister rose to power.

......

Tywin’s handling of the two rebellious houses during his father’s rule was well-known history.

But few outside the Westerlands knew how he had truly ruled once he became Warden of the West.

The details were long and complex, but they all boiled down to one simple strategy:

1.     Maintain military dominance.

2.    Accumulate economic strength.

3.    Suppress the power of vassals.

The first two points were undisputed, but it was the third that earned Tywin the most hatred.

He didn’t just punish traitorous lords—that was expected.

But he also suppressed his most loyal vassals, ensuring that none of them could ever grow strong enough to challenge Lannister rule.

Through calculated, long-term suppression, he systematically drained the power of his bannermen.

Over decades, he achieved something unheard of—

A realm where every single noble house combined still couldn’t match the might of House Lannister alone.

......

Then came the War of the Lion’s Fall.

It was this war that cemented House Lannister’s absolute monopoly on power.

When the armies of the Iron Throne marched into the Westerlands, they plundered and pillaged nearly every house—except House Lannister itself.

But just as they prepared to besiege Lannisport and Casterly Rock, the succession crisis in King’s Landing spiraled into chaos.

With claimants fighting for the throne, the war collapsed into disorder and political infighting—giving House Lannister the chance to reshape the Westerlands in its own image.

By the time the dust settled—

The only noble house left standing strong in the Westerlands was House Lannister.

And from that environment, Tyrion’s Lannister Bank was born.

......

After the war, House Lannister enacted a bizarre strategy for rebuilding the Westerlands.

Instead of helping their vassals recover, they rounded them up and confined them in the noble district of Lannisport.

Instead of offering aid, they seized full control of every gold mine in the Westerlands.

And instead of returning to the feudal system, they turned their monopoly on gold into a monopoly on economic power—

Shifting from controlling land and men to controlling money itself.

......

Tywin had secured peace with the new king by offering bribes and fealty, giving him the time needed to reshape the entire political landscape.

While Stannis Baratheon and Aegon Targaryen waged war in the South, the Westerlands quietly underwent a revolution.

By the time the rest of Westeros noticed, it was already too late—

House Lannister had eliminated the last traces of feudalism in the region.

Their bannermen still held titles—on paper, they were still lords of their lands.

But in reality, they had lost all power over their territories.

For the first time in Westerosi history, a single noble house had fully centralized its rule, creating a true autocratic government.

......

This was an unprecedented gamble.

If the war had ended too soon, if there had been too much peace, or if the Iron Throne had intervened, Tywin’s house would have faced crippling resistance.

And if the Lannisters ever fell from power, their system would crumble entirely, leaving them without allies and without a future.

But for now, for the next few decades at least—

House Lannister was the single most powerful family in Westeros.

And at the heart of it all was Tyrion Lannister and his Lannister Bank—

An institution that, while not as profitable as Aegor’s Night’s Watch enterprises, had access to far greater raw capital.

At the very least, Aegor had no doubt—

If he needed to borrow money, House Lannister could afford to lend it.

......