The South Sea Bubble was a financial bubble in the 18th century.
The bubble had significant consequences for financial institutions.
The South Sea Bubble serves as a warning about the dangers of wealth investment.
๐ The South Sea Company and Great Britain in the 18th century
๐ฐ The difficult financial situation of Britain after the Civil War
๐จโ๐ผ Robert Harley's appointment as Chancellor of the Exchequer
๐ John Blunt faced difficulties in managing the government's budget due to the lack of a unified system, which made it difficult to determine the exact amount of debt.
๐ผ The change in political power from the Liberals to the Conservatives led to accusations and tax hikes, resulting in power shortages and economic challenges.
๐ฐ The ongoing debt repayment and the need for financial self-sufficiency posed significant challenges for John Blunt in his role as the head of finance.
๐ฆ The establishment of the Bank of England marked the beginning of centralized banking.
๐ฐ John Blunt saw the financial crisis as an opportunity to make a significant amount of money.
๐๏ธ Blunt's plan involved buying as much land as possible in Ireland at a low price.
๐ The South Sea Company wanted to raise money by trading stocks with government bonds.
๐ฐ John Blunt, the mastermind behind the company, manipulated the market to increase the value of the government bonds.
๐ฆ Blunt also used the company's influence to negotiate with the government and acquire valuable land.
๐ John Blunt used his financial expertise to secure a large amount of money, including a low-interest loan for the government.
โ๏ธ Blunt's actions, which may have been considered illegal today, helped the government obtain the necessary funds.
๐ฐ Blunt and Harley formed a partnership, with Blunt managing the government's finances and successfully profiting from ticket sales.
๐ก The government paid the winners of the South Sea Bubble over a period of time, creating a debt for the government.
๐ฐ Harley needed ยฃ300,000 to sustain the government, but it would cost much more to solve the larger debt crisis.
๐ Harley and Blunt devised a plan to address Britain's long-term debt by creating the South Sea Company.
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