Bulgarian Empire

For Bulgaria's "Million-Kilometer Highway Project", the outside world does not buy it. Many people speculate that this is just a fig leaf thrown by the Bulgarian government. In the end, this project will probably end without a problem!

But it was soon dumbfounding. On February 1, 1922, the Bulgarian Infrastructure Investment Group began to issue bonds. Although the interest rate was outrageously low, wasn’t it still the same as the bank deposit interest rate?

Moreover, the security of bonds is still guaranteed, and they can be directly used as currency to circulate in the market, which has attracted many patriots to join in. Anyway, the benefits are the same as those of deposit banks. If you are short of money, you can directly use bonds as levs!

Economists have not yet reacted. When the Great Depression continued and countries all adopted the method of printing money to alleviate the financial crisis, everyone suddenly remembered that Bulgaria had already issued excessive currency!

It's just that because it was issued in the name of bonds, the normal circulation of money in the market has increased, but it has not affected the value of Lev's currency.

After all, the currency value of the lev is linked to gold, and Bulgaria's gold reserves have not decreased, and the currency issuance has not increased!

The currency value of the bond is actually maintained by the credibility of the bank and the support of the public for this project! In essence, it is already the currency of the credit system, but it does not rely on national credit!

In the absence of currency depreciation, increasing the currency that can be circulated in the market will inevitably stimulate economic development in the short term.

Of course, Ferdinand also knew that this flow could not increase too much, otherwise the domestic inflation would explode, so the first batch of bonds was only 2 billion levs.

In the end, the investment company contributed one billion levs, plus 20 levs of bonds, and the 10 billion levs provided by the bank, which was the investment for the first year.

Bulgaria still maintained the consistent high efficiency and directly adopted the "trilateral project". The project started construction at the end of February, and the curtain was kicked off with lightning speed!

The eyes of the whole world are attracted, and now no one doubts that the Bulgarian government is determined to promote this project!

Tens of billions of funds have been invested in it. If the project fails, it will be enough to hurt Bulgaria!

On the other hand, the secret loan talks between Bulgaria and Russia have also been covered up. Of course, it is still unknown whether the British and French intelligence agencies have learned about it, at least they have not discovered it on the surface.

On January 25, 1921, the two countries signed an agreement that the Russian Empire would use the Ukrainian region as a mortgage to lend 10 billion levs to the Bulgarian bank syndicate.

This loan is operated in full compliance with international standards, with a monthly interest rate of 6.5 per thousand, compound interest, repayment of the principal and interest in 30 years, and first deducting the principal and interest sum of the first year. In fact, Nicholas II took The money received was only 8.76 billion levs.

Don't think it is expensive, there are cheap loans, but there are additional conditions. In fact, the cost of additional conditions is often much higher than the interest on the loan itself!

Otherwise, why did Ferdinand raise the interest rate up to 12% when he issued the bond, and did not seek a bank loan?

After the terms of the Bulgarian-Russian loan were agreed, the Bulgarian government also formally acquired the sovereignty over the province of Bessalibia and the Crimean Peninsula.

The management of the two places has become a difficult problem for Ferdinand. Assimilation is necessary, but how to assimilate also requires skill!

In fact, these two areas were infiltrated by Bulgaria as early as the outbreak of the Russo-Japanese War. After so many years of operation, there are not a few local Bulgarian factories and enterprises.

Coupled with the long-term civil war in the Russian Empire, which has brought a heavy burden of military service and economic burden to the local people, the reception work went smoothly.

Neither the nobles nor the civilians made trouble for Ferdinand on this issue, but the subsequent governance would be troublesome. Since there was no cleansing, the local local forces remained intact.

Now they still support Bulgaria,

This kind of support is largely forced. Most people may not really agree with Bulgaria. The main reason for them to join Bulgaria is to find a safe haven!

Bulgaria's low taxation and stable social environment are all one of their selection factors!

What's more, there is no choice. The tsarist government has sold the local sovereignty, and the transaction is a foregone conclusion. When the local people get the news, the Bulgarian army has already taken over the place, and they have no strength to resist?

Ferdinand was naturally not worried. When he was around, no one would dare to rebel or fight for independence. The future might be uncertain!

Not every generation of kings has his prestige, and not every government is hawkish, able to have the courage to suppress when they say it, and start a war when they say it!

"Prime Minister, what are you going to do with the Libyan province of Bessa and the Crimean Peninsula?"

Considering the limitations of the times, Ferdinand decided to leave this issue to the cabinet first. If it doesn't work, he is thinking of a way!

Constantine thought for a while and said: "Your Majesty, considering the strategic value of the two places, we must have heavily stationed troops, and the success of the local people's rebellion is not high.

Presumably smart people know that to fight against us now is courting death, so we don't have to worry about finding a partner locally!

In the field of culture, the government plans to fully Bulgarize the local area; in the field of industry and commerce, we will also find ways to suppress local capitalists and let domestic enterprises control the economic lifelines of the two places.

Through economic control and cultural identity, the assimilation of the local area is completed, but it takes a long time. I am afraid that it will take 20 or 30 years for a new generation to grow up before they will be completely assimilated! "

Ferdinand nodded, slow down, slow down! Cultural assimilation cannot be achieved overnight. Even if the local culture is very close to Bulgaria, it still takes time for the locals to completely abandon traditions and accept the new cultural system!

Ferdinand wants to develop with peace of mind, but unfortunately some people don't want to! No. 10 Downing Street, London, there is a conspiracy going on here, not only against Bulgaria, but against all major powers in the world!

John Bull's nature broke out again. With the substantial increase in military pay and the improvement of the level of military welfare, the British Army still showed the strength of their great powers, suppressing the Egyptian uprising three times five times, and India's non-violent non-cooperative movement.

The colonial rebellion was suppressed, and the London government suddenly became idle again. John Bull, who was idle, naturally wanted to find something to do.

Suppressing competitors and maintaining the balance of the European continent is their consistent national policy, but now this balance has obviously been broken!

The Russians fell into a civil war. Although the baby bump of the British Empire-India, was safe, their pre-established tripartite protection of Russia in the European continent could no longer be realized.

Later, they came up with another plan, that is, let the two countries compete for the hegemony of the European continent, and the British Empire will be the referee in the middle, so as to continue to maintain the balance of the European continent.

As a result, Bulgaria retreated, and even helped the Austro-Hungarian Empire stabilize the situation. The conflict of interests between Bulgaria and France was completely separated by the Austro-Hungarian Empire.

Now that the French are dominant in Western Europe, it is difficult to find an enemy who can check and balance them. Once they recover from the war, the battle between Britain and France will still be indispensable!

Bulgaria dominates the Near East region and engages in construction behind closed doors. It seems that there is no threat in the short term, but what about the future?

Who can guarantee that Bulgaria has always been unambitious, and in their view, Ferdinand is scheming. Now that the British Empire is strong, Bulgaria has chosen to back down. What about the future?

Once the British Empire is in trouble, I am afraid that Bulgaria will be the first to jump out to grab the Suez Canal, and it will even hit India's idea!

Geographically, both places are threatened by Bulgaria! It is very necessary to take precautions before they happen!

There is also Japan in the Far East, which is testing the strength of the British Empire again and again, and must be suppressed.

In terms of strength, the navy of the British Empire is greater than the sum of these three countries, and the industrial strength of the three North American countries also exceeds the sum of these three countries.

However, the army of the British Empire is not as good as any of these three, and the air force is not in their consideration!

It is not the style of the British Empire to go into battle directly shirtless, and it has also been proved that this is the most successful way. The lessons of the World War have just passed, and everyone still remembers it.

Lloyd George is in a good mood recently, otherwise he wouldn't be in the mood to hold a national policy meeting and find ways to attack the three main competitors!

...

This is undoubtedly a simple and complicated problem, the method is very simple, but it is very troublesome to operate.

Foreign Secretary Gray said: "There are many ways to suppress these three competitors, but very few are really suitable for the British Empire.

Given the domestic economic situation, it is impossible for us to go to war with them, so the actions we take must be within the tolerance of the other party.

According to the analysis of the Ministry of Foreign Affairs, the most suitable measures are undoubtedly to support the Germans to contain France, support the Austro-Hungarian Empire to contain Bulgaria, and support the Communist Party to contain Japan!

These methods are all within the acceptable range of the opponent, and they will not turn against us because of this!

Of course, there are also more extreme measures, such as: the Royal Navy directly blocks their routes and cuts off their overseas trade, but in this way, a war will be inevitable!

Or make counterfeit banknotes to attack their currency proposals. The consequences will be very serious, and the enemy will follow suit to make pounds. These extreme measures are not worth the candle for us! "

The Chancellor of the Exchequer smiled wryly and said: "Mr. Gray, the financial situation of the British Empire is not very good, we cannot invest a lot of money to target these three countries at the same time!

They are not weak, and they will definitely retaliate. There is no need for us to fight against them. As long as the British Empire develops fast enough, the gap in strength between us will only become wider and wider! "

The Secretary of the Navy retorted: "No! In fact, we all know that due to the small size of the territory, the economic development of the British Empire has been restricted, and we have fallen behind in terms of development speed. The gap in strength has not widened, but has been shrinking!

Moreover, we are not going to fight them, but to limit or delay their development speed, which will not cost much! "

The Chancellor of the Exchequer said angrily: "Stop fooling people!

In order to restrain the French, we have to support the Germans, but they are in a debt crisis. Unless we can get them out of the debt crisis, it is undoubtedly a dream to check and balance France!

To check and balance Bulgaria, you also need to support the Austro-Hungarian Empire. Investment in this area is also indispensable, otherwise they would not have the courage to confront Bulgaria at all!

Don't forget that the total population of Bulgaria has now reached more than 50 million, which is comparable to that of the Austro-Hungarian Empire. The industrial gap between the two sides is almost doubled, and the gap in military combat effectiveness will only get bigger!

With less investment, why should the Austro-Hungarian Empire stand up and challenge Bulgaria? Don't they even know how to analyze the most basic strength gap?

There is also Japan in the Far East, your plan is even more nonsense, counting on those wastes, it is better for us to directly count on it! "

The Minister of State suddenly interrupted their dispute and said: "It is impossible for us to cooperate with the consortium and use financial means to directly attack their economy. Maybe we can make a small profit?"

The Minister of Finance thought for a while and said: "Theoretically it is feasible, but the French's economic strength is not weak, and the French consortium's family background is still very strong. Before we understand their position, any action we take is very important." dangerous!

We can't penetrate Bulgaria's financial market at all, unless we are willing to send hundreds of tons of gold to them, we can get an admission ticket!

For them, a financial blow is simply an itch, but we may be trapped.

The real effective use of financial means is actually Japan. Their economic situation is also very bad. We may be able to take advantage of it! "

Seeing that no one objected after a while, Lloyd George made up his mind and said, "Then let's attack Japan first, and treat it as collecting interest. We should also warn our little brother that being a traitor will not end well." !

There is no rush to deal with Bulgaria and France. If there is too much pressure on them, the two countries will form an alliance if it is not good, and then it will be really troublesome!

So it is enough for us to give Germany and Austria-Hungary a certain amount of support secretly, let them come out and delay, and the development speed of these two opponents will be enough! "

There is no way to find a soft persimmon. Unlike European countries, Japan is far away from the Far East. Although it has gained a geographical advantage, it is also their disadvantage!

Hanging alone overseas, far away from the center of this era, they are naturally hostile by all countries, and they can't even find an ally when they look around. Even if they suffer this loss, they can only endure it!

Having been allies for more than ten years, the British have almost figured out the nature of the Japanese, bullying the weak and fearing the strong, so they just took the opportunity to make a small fortune to make up for the lack of finances.

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