by Andrew Watts
Chase said, “Is he? I didn’t know.”
“You heard about his job change, right?”
“Yes, I did. It’s…unfortunate.”
“Yes, it is.”
Elliot was tapping his fingernails on the table. “Iranian-US relations are at an all-time low right now after the Abu Musa incident.”
“They weren’t so great before that.”
“True. I’m just saying that your dad didn’t do anything wrong, Chase. He just happened to be in command of someone who did. Happens to the best of us.”
Admiral Manning was the one-star in charge of the Harry S. Truman Carrier Strike Group, the lone US aircraft carrier strike group in the region. As such, he was responsible for all the actions of the ships under his command. Including the US Navy destroyer, the USS Porter.
Iran had accused the US Navy of sinking one of its patrol craft off the island of Abu Musa three weeks ago. One of the lookouts on the Porter claimed he saw a submarine next to the Iranian patrol craft. The crew of the US destroyer also stated that the Iranian submarine started firing first, a claim that made the entire US story seem far-fetched. US intelligence had confirmed that all of Iran’s subs were in port. Due to the hazy and humid weather conditions, the US Navy video from the Porter was inconclusive.
There was still confusion surrounding what had really happened, but the bottom line was that both the US ship and the Iranian ship had fired rounds at each other. The Iranian ship had exploded, killing all three of its crewmembers. There were no American injuries. The Iranians were furious, the American politicians issued apologies the next week. Admiral Manning had apparently become the fall guy.
“Mr. Jackson—”
“Elliot.”
“Elliot, may I presume that you didn’t come here to make me feel better about my father’s career situation? And may I further presume that, as far as I am aware, station chiefs don’t normally come flying out to have conversations with lowly Special Operations Group men like myself? Would you say that is accurate?”
“Yes, Mr. Manning, that is accurate.” A soft smile.
“May I ask why you came down here?”
Elliot sighed and contorted his lips as if he was mulling something over.
“I’ve known your old man for quite some time. He’s loyal, and I’m willing to bet that his kids are too. Plus, I read your file. You were a top performer with the SEALs. I knew that you must have been. You had to be, to get picked for SOG. But still…your record was shinier than most I see.”
“Thank you, sir.”
“Chase, I’ve got a task for you. And it’s a delicate one, to say the least.”
“I’m all ears.”
Elliot stood up and walked over to the window. Chase could hear the roar of a twin-engine fighter jet taking off outside. Seconds later, a second roar followed as another jet took off behind it.
Elliot waited for the noise to quiet and said, “Chase, we have a leak.”
Chase raised an eyebrow.
“You’re familiar with the Dubai Financial Summit?”
“Somewhat. I just got back from Iraq a few days ago, so I’m catching up on my news.”
He grunted. “Mark my word, son. The Dubai Financial Summit is the biggest thing to hit this part of the world since they struck oil. China’s new version of the World Bank, the Asian Infrastructure Investment Bank, is rolling in here as one of its primary backers. The most powerful countries in the world have each sent their financial gurus. They’ll go over trade deals and talk about oil production in the region. But the main event is going to be this new currency exchange they’re setting up.” He looked at Chase. “You know what an exchange is?”
“Like a stock market exchange?”
“Right. Like that. Only this one is for money. People trade money. Well, banks trade money. I trade baseball cards.”
Chase smiled. Elliot was a likeable guy.
Elliot said, “So the Emirates and a few global investors are building this new monetary exchange. A few countries in the Middle East have agreed to try something out. They’re restructuring their national currency so that they are backed by bitcoin. You heard of bitcoin?”
“Sure.”
“Of course you have. You’re young. A lot of people thought bitcoin would end up being a fad, but it’s gaining a lot of traction.”
“How does bitcoin fit into this?”
“I’m not an expert, but as it was explained to me, a type of currency—whether it’s a euro or a dollar or whatever—it’s just paper. Actually, what’s more likely is that it’s just a bunch of electrons on a server somewhere. What gives that currency a value is when people agree to give it value. You catch my meaning? Well, sometimes, people get nervous and one type of currency looks more stable than another. So all those traders—banks, mostly—will pile their money into the stable currency and out of the risky currency.”
“Sounds like the stock market.”
“It is just like the stock market. And just like the stock market, there is something behind the investment. Something that backs it, that gives people a reason to believe in its value. Or a reason to get spooked. In the case of the stock market, it’s the company. If the company keeps making money and earning profits, people believe that the company’s stock has value. But money isn’t like that.”
“I thought it was backed by gold. Doesn’t the US Treasury have gold at Fort Knox or something?”
“A lot of people share that misconception. But in actuality, the US dollar has not been redeemable for gold since the 1930s.”
“So then what backs it up?”
“Fiat.”
“The Italian car brand?”
“Yes. The Italian car brand.” He shook his head. “No…not quite. Where’d you get your degree again?”
“The Naval Academy.”
“Figures. A fiat currency is a type of legal tender that isn’t backed up by a commodity…the opposite would be a commodity currency, like one backed up by gold. The dollar is backed by the full faith and credit of the US government.”
“Well, that’s a scary notion.”
“Well, not when you consider the alternatives. Better the US government than the others, I’d say.”
“True.”
Chase’s eyes looked up at the ceiling, moving rapidly as he thought. “So in this case, bitcoin is the commodity.”
Elliot nodded, proud of his pupil. “You got it. The Dubai Financial Summit is about to create a new currency. A commodity-backed currency, backed by bitcoin reserves. A whole lot of heavy hitters in the I-banking world are investing in this. But the biggest investor is this Chinese version of the World Bank I was telling you about, the AIIB.”
“So what’s the problem?”
“There are a few. Right now the US dollar is king. We as Americans don’t ever want that to change. Another issue is that bitcoin is untraceable. So as these countries change their currency to be backed by bitcoin, that apparently means that new currency is a lot less traceable than others. That’s the way it’s being set up right now, anyway.”
“Isn’t the US fighting that?”
“No one’s asking us. But trust me, we’re protesting. One important part of this is that a currency needs a host. It’s kind of like a new product launch. You need a test market as a proof of concept. It makes adoption much faster.”
“So who’s the test market?”
“There are two. Iran and the UAE. Iranian rials—that’s their currency—would basically be tied to bitcoins. The theory is that eventually, many Iranians could just switch over to using bitcoin altogether. This could have a big economic impact if it proves successful.”
Chase frowned. “I’m surprised that the UAE and Iran were able to agree to partner on this. I thought that everyone on this side of the Gulf hates Iran?”
Elliot said, “Iran’s got some rising-star politician who’s actually related to the Ayatollah. Name’s Ahmad Gorji. From what I understand, he’s a pretty reasonable g
uy. His ideas are progressive, but it seems he’s given a lot of leeway because…well, because when you’re related to the Supreme Leader, you get a lot of leeway. Might be the perfect mix. The Ayatollah has put him in charge of Iran’s bitcoin-backed currency. He might make a difference in relations around here. The Emirates like him. So they’re willing to allow use of this type of money in the UAE as a secondary currency.”
“I’m guessing that we don’t like this. The UAE is one of our strongest allies. We probably don’t want them getting cozier with Iran.”
“That’s partially true. Although the State Department has an interesting theory that it could actually help us in the long term. An economic beachhead that would spur on democracy in Tehran. I’m skeptical.”
“Me too.”
“But in the short term, the issue is over tracking funds. Iran supplies weapons and funding to several terrorist groups around the world. Mainly Hezbollah. We estimate that last year Iran gave the equivalent of almost two hundred million US dollars to Hezbollah.”
“That doesn’t sound like a recipe for peace.”
“Well, here’s where bitcoin comes into play. Today, the US and our allies can slow down and freeze many of Iran’s terrorist-funding transactions. But bitcoin is untraceable. We already believe that terrorist groups, and nations of ill repute, use bitcoin to transfer funds when they don’t want us to know about it. But with this new currency backed by bitcoin, and wider adoption of bitcoin, it could open the floodgates so that countries like Iran could start transferring much larger sums of money to some very bad people. And not only to Hezbollah, but also to terrorist cells around the world. Today, the US could stop Iran from funding a terrorist cell in New Jersey. But if this new currency system is set up and we can’t monitor transactions, it would be much easier to fund terrorists anywhere in the world, including the US. This could become a very real threat to our national security.”
“I see.”
Elliot said, “And lastly, the US doesn’t like the idea of China launching a competitor to the World Bank. That weakens us and empowers China. This is the AIIB’s first real move. So what do they do? They go and fund this new currency exchange between Iran and the UAE…I mean, they might as well be pissing in our rose garden.”
Chase leaned back in his seat. He cocked his head and said, “Well, I imagine that there are certain American entities in Dubai that are very busy keeping an eye on this Dubai Financial Summit.”
He gave Chase a knowing look. “I imagine that there are.”
“Elliot, if you’re so busy with all of that, why did you fly out here to see me?”
He sat back down and placed his hands on the coffee table. “Chase, have you ever been to the American consulate in Dubai?”
“That’s where your office is, right? For your State Department job?”
Elliot nodded. “Let me tell you something. There is no need for a US consulate in Dubai. We have an embassy in Abu Dhabi. The reason we have a consulate in Dubai is because we get more Iranian citizens in there asking for American green cards than any other location on the planet. Some are businessmen who oversee state-run organizations. Some are would-be defectors with military experience. I’ve got three interrogation rooms with two-way mirrors in that consulate, and a staff of ten managing daily interviews. It’s been a great source of human intelligence over the years.”
“Sounds like a good operation.”
“Consulates are often the best places to collect intelligence. And the best intelligence is what we get from human sources.”
“That’s what I was told during my training at the Farm.”
The CIA station chief smiled. “Two days ago a guy came into our consulate in Dubai. You know who it was?”
“Who?”
“You know that Iranian politician I just told you about? Ahmad Gorji? The one who’s spearheading the Iranian participation in the Dubai Financial Summit?”
“Yeah.”
“It was his personal assistant.”
“What did he want? He wants a green card too?”
“No. That wasn’t what he wanted.”
“What, then?”
Elliot Jackson narrowed his eyes and leaned forward. “Well, Chase, as it turns out, he wanted you.”
Chapter 3
Chase frowned in disbelief. “I don’t understand. I’ve never met any Iranian politician’s assistant.”
“I don’t expect that you have. But still, he used your name. He said it. Chase Manning. He waited until we were alone, of course. Even asked me to turn off any cameras. Said it would be in my best interests. I didn’t listen, but maybe I should have, knowing what I now know.”
“What do you now know?”
“So here this guy is, just flown in from Tehran. His boss is a big deal, so he’s probably pretty damn busy. He’s probably using his only hour of free time in between meetings to make his way through Dubai to the American consulate. God knows what kind of tricks he had to pull to get there without drawing attention. Hell…I hope he did, anyway. For his sake. Then he asks for one of my Special Operations Group rookies. You. A former US Navy SEAL who’s been off fighting ISIS in Iraq for most of your first year on the job.” Elliot paused. “I didn’t know what to make of it. The guy told me that he wouldn’t talk to anyone else. Then he told me that he had some very important information that he was to give to you.”
Chase shifted in his seat. He didn’t like the tone that Elliot was using. “Sir, are you suspecting me of anything?”
Elliot said, “No, of course not. But I generally like to be in the know about all of our human assets in the area. So if there is something you need to tell me, now’s the time.”
Chase’s palms were sweating. He hadn’t done anything wrong. He wasn’t sure why he felt nervous. Perhaps it was because he couldn’t prove that he hadn’t done anything wrong. He held out his hands. “Look, Mr. Jackson. I swear to God that I have no idea how this guy got my name.”
Elliot waited a moment. It was uncomfortable. “I asked this guy a lot of questions. At first he wouldn’t answer. He said he would only talk to you. I told him that you weren’t available, but that I would see if I could arrange a meeting soon. Then, he told me a story.”
“What did he say?”
“He told me about a CIA operation in Dubai that had been uncovered by the Iranians. He let me know that I have a leaky ship.”
“Could he prove it?”
“Yes, he could.”
“How do you know he was telling the truth?”
Jackson said, “You know the new bitcoin-backed currency we were discussing?”
“Yes.”
“Currencies need central banks. This new bitcoin-backed currency will have its own central bank located in the Dubai financial district…collocated within Dubai’s own bitcoin exchange market. The whole thing is about to go operational any day now. And the US is not invited to the party. I’ve been working on a project with Waleed Hajjar, UAE intelligence, for about a year. We have been able to place a reliable asset in the IT department of the bitcoin-backed currency’s central bank. He will also be linked in to the new bitcoin exchange once it starts trading next week.”
“Sounds like a damn good source.”
“That’s what I was hoping.”
“But?”
“But, it appears that the Iranians now know about him. Our new Iranian friend told me his name. Therefore, I have a leak.”
“You said that you were working with UAE intelligence. How do you know they aren’t the ones who have the leak? That seems more plausible.”
“Because the Iranian knew the CIA code name for our source. That was information which was never shared with Waleed.”
Chase raised his eyebrows. “I see. Any ideas on who the leak might be?”
“Honestly? No, I do not. That’s what scares the shit out of me. Langley is sending me a few counterespionage specialists. They arrive the day after tomorrow. They’ll help with plugging the hole. There�
��s a special place in Hell awaiting this person when we find them.”
Chase looked out the window. Another pair of jets was taking off. “So…I still don’t understand why this guy asked for me. Did he tell you?”
“He didn’t say. But we agreed that I would set up a meeting between you two.” Jackson rubbed his temples. “Look, I realize that this is highly unorthodox, but I’m going to need you to work with UAE intelligence on this. I’ve already spoken to Waleed. I trust him. As much as I can trust anyone in this line of work. I’m loaning you out to him while we clean house at Dubai Station.”
Chase nodded. “Understood. Whatever you need.”
“Once we scrub a few agents clean and make sure they are not compromised, I’ll send you someone to provide backup. But for now, do not speak to any Agency personnel about what you are doing in Dubai. Understood?”
“Yes.”
“If you need help, I’ll authorize contract assistance for you. But not agents.”
“No problem. What will I be working on with Waleed?”
“Our asset in the Dubai financial district has some data we need. I can’t send any of my people now, because I can’t be sure whom to trust. In three days, you need to make contact with him and get something from him.”
“Get what?”
“It’ll be a memory stick, or an external hard drive. Something like that. We need it. It will allow us to monitor transactional data within the bitcoin-backed currency network.”
“Why do we need to wait three days?”
“Because we need the exchange to start operating for us to get our information. Our source created a program that…” He made a face like he was trying to figure out how to explain it. “It’s like this. Say there was a hole in one of your backyard gas grill propane lines, right? You could spray some soapy water around the lines and see if any of the bubbles are moving around. That would show you where the problem was. But it would only work if the gas was flowing. Same situation here. The program we have to identify where any illegitimate activity is coming from needs the funds to be flowing. The exchange opens in forty-eight hours. So three days from now, we agreed to get the first delivery of data. I need you to get me that ASAP once he makes the handoff.”
