England: South Sea Bubble III - Buying Out Britain - Extra History
Support us on Patreon! http://bit.ly/EHPatreon
Watch the South Sea Bubble series! http://bit.ly/1xfVN9W
Subscribe for new episodes every other Saturday! http://bit.ly/SubToEC
Follow us on Facebook! http://bit.ly/ECFBPage
Follow us on Twitter! http://bit.ly/ECTweet
Follow us on Twitch! http://bit.y/ECTwitch
____________
The time has come for Blunt to enact the final act of his scheme: taking on the 31 million pound British debt. When Parliament initially balks at transferring responsibility for that much money to Blunt's insolvent South Sea Company, he bribes them with special deals on his own stock. Despite a legal clause that should have locked the stock price until the company began paying off the debt, Blunt keeps introducing new plans to inflate the stock price and pocket the money for himself. He does everything from selling stocks on layaway to loaning people money so they could buy more stocks from him, creating an artificial demand for South Sea Company stock that drives the company's worth up to 300 million pounds: a staggering ten times the initial value of the already stunning debt it had assumed. His success, founded entirely on speculation with no actual revenue from trade, not only starves out other businesses across Britain but exceeds the total amount of money in the country's entire economy. This bubble can not last.
___________
Get the intro music here!
http://bit.ly/1EQA5N7
*Music by Demetori: http://bit.ly/1AaJG4H
Listen to the outro music here!
http://bit.ly/1ERCS9G
__________
James Recommends - City Building Games Across the Ages
Anno Series (Dawn of Discovery): http://bit.ly/18mJxPg
Extra Credits - How High Costs Drive Players Away from F2P Games
Free to Play is Currently Broken: http://bit.ly/1AobnQV