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With the South Sea Company's value dangerously inflated, Blunt drives one more scheme to raise stock prices - and it finally backfires on him. Early investors (including the famous politician Robert Walpole) seize the opportunity to sell their stock while the value is high, and the general public finally realizes that the South Sea Company has no actual worth. Everyone who didn't sell their stock in the first round finds themselves suddenly bankrupt as the stock value plummets. Even King George, on vacation when disaster strikes, loses a large amount of the royal fortune. Robert Walpole, however, sees this as an opportunity to make himself a hero of the public. Hiding his own involvement in the South Sea Swindle, he cancels all debts owed for the company's stock to help put its public investors back on their feet. Despite this, the public demands an inquiry and Walpole must walk a thin line between his facade as defender of the people and the reality of his, his party, and the King's blatant corruption.
Get the intro music here!
*Music by Demetori: http://bit.ly/1AaJG4H
Listen to the outro music here!
Extra History - Rome: The Punic Wars I
The First Punic War: http://bit.ly/ExtraHistory
Extra Credits - What the Future Really Holds for Games
Four Realistic Predictions: http://bit.ly/1Dr7jp9
Tagged under: South Sea Company,England,United Kingdom,Financial History,Economic History,Stock Market,Speculation,Economic Bubble,South Sea Bubble,Robert Walpole,Robert Knight,John Blunt,King George,Market Crash,Market Collapse,Stock Collapse,Bank England,East India Company,Parliament,British Parliament,Extra History,Extra Credits,James Portnow,Daniel Floyd
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