In 1720, England was in massive debt and became involved in the South Sea Bubble. Who was the main mastermind behind it?

The story behind the answer

John Blunt is correct because he was the chief architect of the South Sea Company’s 1720 debt-for-equity scheme. As a director, Blunt engineered the plan to assume Britain’s massive national debt in exchange for government-backed privileges, then fueled a frenzy by inflating share prices through insider deals and political bribery. When confidence collapsed, the South Sea Bubble burst, wiping out fortunes across England.

Context: Britain’s debt spiked after the War of the Spanish Succession. While Robert Harley helped found the company earlier, it was Blunt who masterminded the 1720 speculation. Even Isaac Newton lost money in the crash. Memory tip: “Blunt built the Bubble”—both words start with B, and his blunt financial engineering burst spectacularly.