I've no idea who the true King of old is (unless 'tis Charles III at present), but I'm certain he has no connection with Vallance.

"HERE THEY ARE... THE MERCHANT WHO WISHES TO DESTROY MY VERY COUNTRY WITH HIS BLACK TAINTED CRYSTALS... WILLING TO UPEND THE WORLD SIMPLY FOR MATERIAL GAIN" - who is he referring here?

"THE ONE WHO WHO DEDICATED HIS LIFE TO CREATING ME... A FOOL WHO LET HIS MORALS DESTROY HIS CHANCE AT THE WEAPON HE LONGED FOR..." - that's probably about Mr. Green / Ezra

"THE ONE PUT IN HERE SIMPLY AS A PATHETIC WAY TO TRY AND COUNTER ME... AN INSIGNIFICANT HOST TO PESTS AND VERMIN..." - that's about Infinite and/or his ghoul?

"AND WORST OF ALL... YOU..."

"THE IGNORANT KING DESTINED TO RULE A PLACE WITHOUT PEOPLE, LAND, BORDERS, REASON... LORD OF VERMIN, IDOL OF INSECTS. ENEMY OF THE TRUE KINGS OF OLD" - that's for sure about Tobi.

Pests, vermin, insects - is he referring the spirits this way?

Idol of INSECTS!

Dangit Housten, why'd you have to hurt my eyes :P

Top left: "Here they are ... The merchant who wishes to destroy my very country with his black tainted crystals ... Willing to upend the world simply for material gain"

Bottom left: "The one put in here simply as a pathetic way to try and counter me ... an insignificant host to pests and vermin ..."

Top right: "The one who who dedicated his life to creating me ... A fool who let his morals destroy his chance at the weapon he longed for ..."

Bottom right: "And worst of all ... you ..."

Final: "The ignorant king destined to rule a place without people, land, borders or reason ... lord of vermin, idol of insects. Enemy of the true kings of old."

I guess he's not that friendly to Tobi. I wonder why he suddenly knows all this stuff.

Tobi's really racking up titles

Ah...meltdown time.

Oh hi there Levin.

phantasm target : tobi

ghoul infinite will fight phantasm to defend tobi
and allow the three to run away

here they are... the merchant who wished to destroy my very country with his black tainted crystals.... willing to upend the world simply for material gain. the one put in here simply as a pathetic way to try and counter me... an insignificant host to pests and vermin... the one who dedicated his life to creating me.... a fool who lets his morals destroy his chance at the weapon he longed for... and worst of all... you...

the ignorant king destined to rule a place without people, land, borders (based) or reason... lord of vermin, idol of insects. Enemy of the true kings of old.

"the ignorant king destined to rule a land without people, land, borders or reason..."
Huh?

I feel like there's a rugpull in all this chatter. Jay is hiding something and Heusten is talking about him in at least one of these lines.

I wonder if phantasms can blast away a clone made of pure spirit as easily as an esper, cause if they can this is going to be a real short showdown.

For ease of reading, 'H̷̙̜̦͉͙̥͔͍̲̼̿̀̑̓̐̓ḙ̶̢̢̫̺͈̬̩͍̆ụ̸͈̻̘̺̉̃͛s̵̟̗̱̯̑͠t̷̹̟̠͙̤̪͍̞̺͛̒̀̈̊ͅë̸͈̝̤͐'̸̛̖̝̰͇̙̗̻̱͌n̵̡̨̹̪͕̥̯̳͕̥͂͗͝.' dialog

"Here they are, the merchant who wishes to destroy my very country with his black tainted crystals ... Willing to upend the world for material gain."

"The one who who dedicated his life to creating me ... A fool who let his morals destroy his chance at the weapon he longed for."

"The one put in here simply as a pathetic way to try and counter me ... An insignificant host to pests and vermin."

"And worst of all... You..."

"The ignorant king destined to rule a place without people, land, borders, or reason ... Lord of vermin, idol of insects, enemy of the true kings of old."

So, thinking the phantasm is referring in order to Mr. Yellow, Mr. Green, Infinite, and Toby.

Translating Heuston, as best I can. Panel 5 - top left bubble
"Here they are... The merchant who wishes to destroy my very country with his black tainted crystals.. Willing to upend the ??? simply for material gain."

"Here they are ... The merchant who wishes to destroy my very country with his black tainted crystals ... willing to upend the world simply for material gain."

"The one who dedicated his life creating me ... A fool who let his morals destroy his chance at the weapon he longed for ..."

"The one put in here simply as a pathetic way to try and counter me ... An insignificant host to pests and vermin ..."

"And worst of all ... You ..."

"The ignorant King destined to rule a place without people, land, borders, or reason ... Lord of vermin, Idol of insects. Enemy of the true kings of old."

The one who "dedicated his life to creating me" is obviously Green. And the ignorant King is Tobi.

The middle two? IIRC Yellow confirmed he was the intruder who Smile wanted dead. Did he break in to stop the creation of Phantoms? If not that makes him connected to black crystal trade and Infinite-Ghoul the counter. Infinite-Ghoul also fits the "host to pests and vermin" bit. But at the same time Yellow seems insignificant and I don't remember if pre-Ghoul Infinite was dealing with black crystal.

I guess I just need to keep tuning in.

Pretty good. He wants to destroy the entire experiment to save a country.

What a nice guy...jaja.

Without transcribing everything,H̷̙̜̦͉͙̥͔͍̲̼̿̀̑̓̐̓ḙ̶̢̢̫̺͈̬̩͍̆ụ̸͈̻̘̺̉̃͛s̵̟̗̱̯̑͠t̷̹̟̠͙̤̪͍̞̺͛̒̀̈̊ͅë̸͈̝̤͐n is addressing in turn Yellow (who apparently sells Black Crystal), Green, Infinite (seemingly not fully appreciating the distinction between the man and the ghoul) and then calling Tobi "The worst all you... The ignorant king destined to rule a place without people, land, borders or reason... Lord of vermin, idol of insects, enemy of the true kings of old."

Since this seems to be a tradition, and nobody's done it yet, here's a transcript of the backwards text. And yes, there are two "who"s.

Here they are... The merchant who wishes to destroy my very country with his black tainted crystals... Willing to upend the world simply for material gain.
The one who who dedicated his life to creating me... A fool who let his morals destroy his chance at the weapon he longed for...
The one put in here simply as a pathetic way to try and counter me... An insignificant host to pests and vermin...
And worst of all... You...
The ignorant king destined to rule a place without people, land, borders or reason... Lord of vermin, idol of insects. Enemy of the true kings of old.

so fun fact, taking a photo of the screen with your phone in selfie mode makes reading this text very easy :D

I don't think it likes Tobi...

By my reckoning:
"Here they are... the merchant who wishes to destroy my very country with his black tainted crystals... willing to upend the world simply for material gain."
"The one put in here simply as a pathetic way to try and counter me... an insignificant host to pests and vermin."
"The one who who dedicated his life to creating me... a fool who let his morals destroy his chance at the weapon longed for..."
"And worst of all you..."
"The ignorant king destined to rule a place without people and borders of reason... lord of vermin, idol of insects, enemy of the true kings of old."

If he knows she’s ignorant, why would he assume she’d pursue such a “destiny”?

Green's description is exactly what he told us a moment ago, and Tobi's is a more detailed version of what has already been hinted at a few times, with only a few more details about her position as a "King".

Infinite's comments don't have anything I find relevant, while "Yellow" (I looked back at page 1192 to find out what to call him) is apparently a mercenary who is likely trying to smuggle out some Black Crystal.

Translation:
HERE THEY ARE ... THE MERCHANT WHO WISHES TO DESTROY MY VERY COUNTRY WITH HIS BLACK TAINTED CRYSTALS ... WILLING TO UPEND THE WORLD SIMPLY FOR MATERIAL GAIN

THE ONE WHO WHO DEDICATED HIS LIFE TO CREATING ME ... A FOOL WHO LET HIS MORALS DESTROY HIS CHANCE AT THE VERY WEAPON HE LONGED FOR ...

THE ONE PUT IN HERE SIMPLY AS A PATHETIC WAY TO TRY AND COUNTER ME ... AN INSIGNIFICANT HOST TO PESTS AND VERMIN

AND THE WORST OF ALL ... YOU ...

THE IGNORANT KING DESTINED TO RULE A PLACE WITHOUT PEOPLE, LAND, BORDERS, OR REASON ... LORD OF VERMIN, IDOL OF INSECTS. ENEMY OF THE TRUE KINGS OF OLD.

So the thug guy, I can't remember his name or color, must be the merchant. The fool with morals is green, the host to pests and vermin would be Infinite, and Tobi is, of course, the King.

Here’s my attempt at transcription. Apologies if someone else already commented, or if there are any errors:
“HERE THEY ARE … THE MERCHANT WHO WISHES TO DESTROY MY VERY COUNTRY WITH HIS BLACK TAINTED CRYSTALS … WILLING TO UPEND THE WORLD SIMPLY FOR MATERIAL GAIN.”

“THE ONE WHO WHO DEDICATED HIS LIFE TO CREATING ME … A FOOL WHO LET HIS MORALS DESTROY HIS CHANCE AT THE WEAPON HE LONGED FOR …”

“THE ONE PUT IT SIMPLY AS A PATHETIC
WAY TO TRY AND COUNTER ME … AN INSIGNIFICANT HOST TO PESTS AND VERMIN …”

“AND WORST OF ALL … YOU …”

“THE IGNORANT KING DESTINED TO RULE A FLACE WITHOUT PEOPLE, LAND, BORDERS OR
REASON … LORD OF VERMIN, IDOL OF INSECTS. ENEMY OF THE TRUE KINGS OF OLD.”

So Mr Green might live but things might be way worse for Anchor.

I think I like this new you, H. We get so much more info when you're talking....even if it is hard to read at times.

"Enemy of the true kings of old"? "Idol of insects"? But why?

Black cristal smuggler... Is it the first hint we have about Mr Yellow's participation in the game, aside from "generic seedy guy"?

painstakingly reading all of heusten's dialogue only to look in the comments and see like 10 transcriptions of it :'(

Well, Yellow being a thug and playing with vontraband was implied the other time the phantasm back-talked.

He must have some future vision or something like that; also to have this hate for Tobi - she hasn't done anything bad to anyone in this game so far.

Is Tobi destined to be a ghoul-queen or something ? Sure she hasn't any interest, only to return to his place(videogame?) of origin

True kings of old, must mean the Technomancers. And Idol of insects must mean the Ghouls.

Perhaps the true kings of old are those mentioned here.

https://www.neorice.com/hoh_3000

Not sure if he's referring to the Blackwater Prince or the ones even further back that were deposed by magic users.