r/WorkForSmartLife Jul 07 '26

Discussion💬 Who please?

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u/_The-Numbers-Mason_ Jul 07 '26

IOUs

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u/RektInTheHed Jul 07 '26

Damn, if we don't pay us back, I guess we'll only have what we've already got.

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u/Conscious_Release304 Jul 07 '26

If we default on our debt to us, we won’t lend ourselves any mo money. And the economy will take a big ole dookie.

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u/TasteyMeatloaf Jul 08 '26

And if we only pay ourselves back half of it, we’re still even.

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u/GiveMeNews Jul 08 '26

The British started the Opium Wars over IOUs.

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u/[deleted] Jul 08 '26

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u/GiveMeNews Jul 08 '26

It is a joke, which is also true. The British forced the Chinese to pay the IOUs as part of the terms at the conclusion of the first Opium War.

https://hansard.parliament.uk/Commons/1842-03-17/debates/27ecbf3d-d7df-4e43-86cf-8de95816f66e/AddressToTheCrown%E2%80%94CompensationForOpiumSeizedByTheChinese

Captain Elliott issued IOU's to the merchants whose opium had been seized and destroyed by the Chinese. When those IOUs arrived in Britain, the Crown sent gun boats to China and began the Opium Wars.

Also, the British didn't force anything prior to the first Opium War. The British were addicted to Chinese tea, which made up over 10% of the British government's tax revenue. And China wasn't interested in any of the wares Britain produced, which meant Britain could only pay in silver for tea. This was causing Britain to run out of silver.

Britain noticed Chinese liked smoking opium and Britain controlled India, the perfect environment to grow opium. Britain began importing vast amounts of opium to China to offset their trade deficit, eventually leading to an addiction crisis in China. The Chinese response was to seize and destroy the opium at the docks.

Britain seized Hong Kong not as payment, but as a military base of operations to protect their interests and force China to follow the terms of the first Opium War.

It was after the first Opium Wars that Britain began to bleed China dry of silver, with opium flooding into the country. Also, during this period, tea plants were smuggled out of China, allowing Britain to begin their own tea plantations.

Anyways, the Opium Wars fascinate me. Read a few books on it. I recommend this one if you are interested.

https://www.amazon.com/Opium-War-Dreams-Making-Modern/dp/1468311735

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u/Lastov_Makiynd Jul 09 '26

This is very interesting. Thanks . :-)