Chapter 101: Going Home_2
An elder quickly reacted, "Isn't this the Mad King's tactic against the United Provincials?"
The previous Emperor of the Empire, "Madman" Richard the Fourth, also borrowed money from the banks of The Federated Provinces—back then, they weren't called The Federated Provinces but the Duchy of Forthland.
When out of money to pay the debts, the Mad King just spread his hands and issued the "Bankruptcy Decree," declaring debt restructuring.
The bankers of Forthland were beaten black and blue by this combination of punches.
On the surface, their claims were not canceled, but in reality, it was as if the Mad King had frozen all their capital with very little money.
If they wanted to sell these bonds, they would have to take a severe loss.
Many people from Forthland went bankrupt and even committed suicide, and the financial landscape of this continent changed accordingly.
When the news reached Paratu, the bankers of Vineta were furious, "They think they can just not pay?!"