All right, who am I trying to kid? That was the moment when I finally, finally grasped what our meeting was all about. It was to formally announce the tidal wave that would soon engulf America. And now Matsuo Noda--or maybe I should say Noah--was, in his oblique j.a.panese way, handing me a pair of tickets good for one round-trip pa.s.sage on his ark. The only thing missing was the schedule.

By then I didn't care whether I was on board or not; I figured I'd just as soon try swimming on my own. But I had one very good reason to play along.

"Okay, what's the game? Want to sell some dollars for delivery down the road?"

"We a.s.sume you are familiar with the markets."

"I stay in touch. How would you like to go? If you want

currency futures, there're the exchanges. Or you can buy forwards, which are more or less the same thing, from any number of banks around town. Futures only go out for a year, maximum, but I can probably get you forwards out to three. Come to think of it, Citibank will quote you ten-year forwards."

"We would be looking at shorter terms."

"No problem. Currency futures are quoted for March, June, September, and December. That's on the Chicago Mercantile Exchange's IMM. But if three months are too far out, then you can get options on spot currency contracts down at the Philadelphia exchange, which allows early exercise. Or if you want, I think you can get off-exchange bank quotes as short as one month. Citibank has a big FOREX desk. And Bankers Trust, and First Boston, or even Banque Indosuez. Of course, if you really want to get serious, there's the currency trading floor at Barclays Bank in London. . . ."

"We expect to be active in all markets, worldwide. That seems best."

Tanaka continued, "However, we are only interested in December futures and one-month contracts in the forwards. After that, we may choose to .

. . make other arrangements."

Hang on, America.

"Right. And what are we talking here in terms of amount?"

He handed me a sheet of paper.

It was like he was ordering up sandwiches from the deli. Corned beef on rye, lean, with extra mustard and a slice of pickle. How many? Let me check. Oh, say a few hundred billion.

"This is going to take a few days." I pa.s.sed it back, calmly as I could manage. "Why don't you send a schedule down to my place late this afternoon. My secretary will be there. I'll get started in the morning." I rose. "In the meantime, you'll understand if I take today off and catch up a little on other work."

"Of course." Tanaka bowed, head still glistening.

"Be in touch tomorrow." I nodded farewell.

"Until then, Mr. Walton." Another bow as I turned to leave.

I walked back through the floor, again trying to digest the spectacle.

This was undoubtedly the most comprehensive operation I'd ever witnessed. What in h.e.l.l did all this a.n.a.lysis of industrial sectors have to do with currency hedging?

Not a lot of time to reflect on the question, however, since I was summarily being ushered toward the steel security doors by one of Tanaka's flunkies, a young tough who seemed to speak no English, but who could strong-arm very eloquently.

In moments I was outside, facing the bank of elevators. That was when I remembered the upstairs tenant, a big public relations outfit. Better take a couple of minutes and give them the word.

Rausch, McKinley, and Stein were in the middle of proving conclusively that our mayor knew nothing about contract kickbacks, that he was in fact the closest equivalent New York had to driven snow. His Honor, in the meantime, was hastily returning the campaign contributions of all the real estate executives who, flanked by their lawyers, were now being featured on the front page of the Daily News.

Since RM&S had their hands full and also had expected an automatic renewal of their lease, there weren't too many politic smiles when I broke the news. Fact is, it was a very unpleasant scene. Finally I called for their lease and showed them the rider. They'd signed the d.a.m.n thing, not me.

"Sorry, fellows, all I can do is maybe drag this out a little for you, mislay the paperwork or something. Have one of your attorneys give me a call, off the record. But I'd also advise you to start looking for s.p.a.ce."

Then I headed downtown, a man with a mission.

Dai Nippon had to be getting ready to kick h.e.l.l out of something or somebody. Trouble was, I had no idea who or what. But I'd had plenty of hints it wasn't going to do great things for the dollar. I briefly toyed with alerting Jack O'Donnell and telling him to leak some anonymous storm signals. But what storm? He wouldn't put his senate reputation on the line to peddle guesswork, and all I had to offer was-- what?--circ.u.mstantial premonitions.

Where to begin? Henderson was in London and unreachable, meaning there was no chance of getting him and his less reputable Washington connections to start shouting "fire" from the rooftops. That left the press. Right. What I needed was the media. Think. Somebody who, if the whole thing proved to be smoke and mirrors, could shrug it off; but, a comer who would be intrigued by the possible broadcasting coup of the century. It had to be somebody with ready-made exposure, yet a personality with little to lose and a lot to gain. That brought to mind the perfect candidate, a former, well, acquaintance.

When I got home, I went straight to the office upstairs, looked up a number I hadn't used in a long time, and dialed it. It felt very familiar.

"Channel Eight. 'The freshest news in New York.' May we help you?"

I always loved the way they peddled information as though it were Wonder Bread.

"Donna Austen please."

"One moment please." There was a click, then another voice. "Channel Eight news desk."

"Donna Austen please."

"Who's calling please."

"Matthew Walton. Tell her it's business, not personal." Enough please's.

"Thank you, Mr. Walcan."

"Walton."

"Thank you." On came the Muzak.

Would she do it? She used to complain how fed up she was interviewing witnesses to car crashes. Her career needed a transfusion of hard news so the station management would start taking her seriously. Well, here was her shot. And since she was roughly tenth in line for the "anchor"

spot, she had no reputation of noticeable proportions to jeopardize by leaking an anonymous rumor the U.S. was about to be sh.e.l.led by an offsh.o.r.e battery of financial guns.

"Ms. Austen said to tell you she's in a meeting and can't be disturbed."

Why is it some women can't just let bygones be bygones? Give me a break, Donna. I was ready for anything, except her little bedroom games. "How about advising Ms. Austen I'm sorry I called at such an important time, but I have some information that might just save her and everybody else from total ruin."

"I'm very sorry, but--"

"Just tell her, G.o.ddamit."

"One moment." No please this time.

Another very long pause. Finally I heard Donna's broadcast-neutral diphthongs, those lower-register reverberations she'd worked so long to perfect.

"Matt, you've got your nerve. This d.a.m.ned well better be quick."

"Sorry I yelled at the messenger. I'm sorry about a lot of things, but that's not the reason I called. Donna, how'd you like an exclusive? The world as we know it is about to end. Inside a month."

"Matt, have you been drinking?"

"No, but that's not a bad idea."