Early Access! South Sea Bubble: Chapter 1
Added 2015-02-26 20:50:50 +0000 UTCBeen waiting for the South Sea Bubble series to debut this Saturday? Your wait is over! To make up for the fact that (two episodes ago) we posted an early access link that didn't WORK ( >:( ), we're giving you the debut for South Sea Bubble extra early. And hey, the link actually works this time. :)
Comments
CAN'T IMAGINE WHERE ELSE THAT MIGHT HAPPEN >.> <.>
Extra History
2015-02-28 08:53:34 +0000 UTCWe'd say there are similarities, yeah! We'll be drawing some of the parallels in the upcoming episodes. It makes for really interesting modern comparisons.
Extra History
2015-02-28 08:53:03 +0000 UTCThat's one of my favorite things: learning about the same period of time from two different countries' perspectives. Totally different priorities, totally different spin on events. It's fascinating!
Extra History
2015-02-28 08:49:14 +0000 UTCI'll see what I can do! -Soraya
Extra History
2015-02-28 08:44:30 +0000 UTCThat's very interesting, in a macabre sort of way. I hope we get the chance to talk about Russian history!
Extra History
2015-02-28 08:44:16 +0000 UTCYes, he did! James gave a more in-depth explanation above, which I won't attempt to replicate, but if you're curious there are some more details there!
Extra History
2015-02-28 08:43:36 +0000 UTCYeah, we wondered if people would be as interested in hearing about financial history as they have been in hearing about warfare, because it's really important to discuss history from all angles. So far, it looks good!
Extra History
2015-02-28 08:42:41 +0000 UTCWouldn't that be cool! Let us know if you find out he was a relative... and if he was, well. We're sorry in advance for what you're going to learn about him. ;)
Extra History
2015-02-28 08:41:14 +0000 UTCGreat question! Soraya asked me to respond to this. Truth is these episodes have been so hard to write because all these financial shinanigans are (intentionally) so convoluded... So here's how it works. Blunt buys debentures up on the cheap before offering the stock trade. He then offers to trade stock for them, which everyone wants, and so this pushes the debenture price up, meaning he makes a profit on the initial debentures he bought. Now because the land is government owned and debentures are a form of government debt, Blunt can trade the debentures directly for land, meaning he doesn't have to go through the hassle of selling them and can swap them all when they're at their highest value. He can then sell off whatever debentures he had left over and above the price of the land. Hope that helps! -JP
Extra History
2015-02-28 06:03:43 +0000 UTCAll of the Extra History episodes are great, but this especially interesting! Can't wait for the next episode! :)
Ryan Young
2015-02-27 12:50:45 +0000 UTCSome things never change...
Michael Jebbett
2015-02-27 06:24:18 +0000 UTCExcellent work guys :)
Evan Erwin
2015-02-27 04:14:57 +0000 UTCThis is really intersting so far. I'm actually in a history class in College right now that covers american history up to the civil war, and this is actually about the same time period we're at right now give or take about 5 years, so super interesting.
Thea Waters
2015-02-27 02:50:13 +0000 UTCSo did Blunt trade the army bonds in for land in Ireland?
Paul Cappaert
2015-02-27 02:21:30 +0000 UTCI love hearing about financial and economic history, it can end up being much more interesting and insightful than military history, though there is a place for both.
Paul Cappaert
2015-02-27 02:13:02 +0000 UTCThis is great, I can't wait for part two
Kris Simpson
2015-02-27 01:06:27 +0000 UTCThis is a fascinating subject! I'm looking forward to hearing the rest of the details. Strangely, I think John Blunt might be an ancestor of mine, one I vaguely knew about but didn't pay much attention to because this area of history was so obscure to me. Now I'm very much interested to find out if that's the case!
kiranokira
2015-02-27 00:56:29 +0000 UTCLOVE IT!
Iriscilla Ayala
2015-02-27 00:51:52 +0000 UTCYou guys will not let me live down not voting for the South Sea Bubble...... Anyway I'm very glad I was out voted :)
Tristan Murphy
2015-02-27 00:37:02 +0000 UTCGreat episode, excited to learn more! I also really liked your Fable Legends series, and hope to see more sponsored series like it in future. I'm curious to learn about some of the powerful trading companies of the past. You rarely hear about them.
Mask
2015-02-27 00:09:09 +0000 UTCLooking forward to the rest :D
Christian Jensen
2015-02-26 23:48:28 +0000 UTCThis is soooo cool! Keep it up! It's really fun to see that shenanigans like tha talways happen when people from the government and from the world of finance start to get acquainted a little too closely... This reminds me of another scam with government money, in Russia in the 19th century. This scam, involving landowners selling back their dead peasants to the central administration (I say 'their' peasants because serfdom was still legal in Russia at this time), has been brilliantly described by Nicolas Gogol in his novel "Dead Souls" (no connection with Dark Souls ;-) ). Btw, do an Extra History about Russia in the 19th century!
Matt Lakits doesn't have the mental energy to update their Patreon name anymore, but still listens to every episode avidly!
2015-02-26 23:21:52 +0000 UTCGreat introduction! Thanks guys and keep up the excellent work!
Alastair Hendry
2015-02-26 22:58:00 +0000 UTCMy hat is off to you for this one. :) I wonder if you put up a book list regarding this topic ? I didn't regret buying several books about medieval Japan, witch gave me a better perceptive on Sengoku Jidai.
Krista Dís Guðmundsdóttir
2015-02-26 22:43:36 +0000 UTCSo fascinating! "Banking establishments are more powerful than standing armies" indeed!
David Malinsky
2015-02-26 22:30:56 +0000 UTCHuh, where else have we seen the problem of two extremely at odds parties in an extremely partisan government where the minority dicks over the majority repeatedly?
Diana
2015-02-26 22:12:45 +0000 UTCHonestly, I did not vote for the South Sea Company... Man was I wrong. Great initial episode, and quite a bit of food for thought. Can't wait for the next one.
TerraN0va
2015-02-26 21:52:10 +0000 UTCWow, this came out early
Indigo_1
2015-02-26 21:49:13 +0000 UTCis it me or do the Trop & Whig from England sounds suspiciously like United States's Republicans and Democrats
Steve
2015-02-26 21:31:31 +0000 UTCYay, the next series has kicked off! Though, I am gonna be honest: Economy isn't my strongest suit and even your simplified explanation makes my head spin. So Blunt sold company shares for "undermarket" values and was paid in army debentures. But he raised the value of the debentures, which I thought would make his company shares be worth less, no? Also, he got 200 000 pound to pay for the land but he paid it in army debentures? Or was it in cash? How did he get the cash? In fact, how did he get the 20 000 to loan to the government if it's all army debentures where you demand money from the government? I am so confused.
Hung Nguyen
2015-02-26 21:16:27 +0000 UTCI have never heard of the South Sea Company before, and voted on it specifically for that reason. Thank you for a great introduction.
Nibelung
2015-02-26 21:06:19 +0000 UTCWow, I had no idea this actually existed. Great re-telling as always!
A_Yellow_Forklift
2015-02-26 21:05:28 +0000 UTC
