Potential Risks

When news of Caesar III's death reached the Holy Mountain, the entire Church was overjoyed. Had it not been for fear of negative repercussions, Pope Pius VII would have prepared a celebratory banquet.

In the past, Caesar III had humiliated him quite a bit. Unfortunately, the Alpha Kingdom was powerful and far away, making a counterattack difficult.

Now, this greatest heretic has finally fallen. Ulise, who had previously kept a low profile, suddenly stood tall again.

At this moment, no one criticized the "Sacred Hand" for its incompetence. The credit for assassinating Caesar III was firmly attributed to Ulise.

"Your Majesty, Caesar III is dead. Shouldn't we begin our next plan?"

"I ask this with great confidence, "Ulise asked.

Killing Caesar III was just the beginning; the Church's real goal was to instigate internal strife within the Alpha Kingdom and eliminate the largest "heretic" in the Northern Continent.

"No need to rush!"

As old friends, now that Caesar III has passed away, we must send someone to offer our condolences, lest word get out and people think that the Church is ignorant of etiquette.

As soon as Pope Pius VII finished speaking, everyone burst into laughter.

They claim to be offering condolences, but in reality, they're just there to cause trouble. History shows that transitions of Royal Authority rarely end peacefully.

If the Church gets involved, the already turbulent Alpha Kingdom will become even more chaotic.

"Your Majesty, the civil war in the Warhammer Kingdom has been going on for almost a year, disturbing the peace of the northern continent."

For the sake of peace on the continent, I suggest giving them a hand and expediting the unification of the Warhammer Kingdom.

Joseph II is the rightful monarch of the Warhammer Kingdom and a devout follower of the Lord of Dawn. His ascension to the throne of the Warhammer Kingdom is the will of the people!

Blake made the suggestion cautiously.

Having endured a series of harsh realities in society, this Grand Master of the Order of Judgment Knights, who barely managed to retain his position, has become increasingly adept at political maneuvering.

In theory, the Church would benefit the most from supporting the nobles of the southwest region.

After all, although their leader was highly respected, he did not have the right to inherit the throne.

If the investiture of King is used as a bargaining chip, and conditions are proposed in exchange, the Church can definitely secure the greatest benefit.

However, with great benefits come severe backlash. Regardless of the origins of the civil war in the Warhammer Kingdom, such "rebellion" is unacceptable to the monarchs of the various countries on the continent.

The reactions from various countries so far reveal a lot. Right now, everyone is supporting Joseph II, the legitimate monarch.

The only problem is that all the support remains lip service; the actual action is always in the planning stage.

If the Church were to offer assistance to Joseph II, it would be a timely and crucial help. While it wouldn't be as beneficial as supporting the "Rebel Army," it would be politically correct.

Even if the countries on the mainland are resentful in their hearts, they cannot stop the Church from supporting "orthodoxy" on the surface.

If they can take this opportunity to infiltrate the Warhammer Kingdom, the Church's plans in the Northern Continent will be one-third complete.

"Um!"

"This matter really needs to be addressed urgently. The Warhammer Kingdom is already severely weakened; if the civil war continues, they will be truly finished."

However, we must maintain strict secrecy in our operations and not expose ourselves. Otherwise, it could very well trigger a proxy war!

Pope Pius VII said with a serious expression.

As early as six months ago, the Church had planned to intervene in the Warhammer Kingdom, but out of fear of Caesar III, it hesitated to extend its reach.

There was no other way. Although the Church was powerful, it was too far from the Warhammer Kingdom, and the forces it could send there were limited.

If the enemy targets us and makes targeted preparations in advance, it will be another operation that results in heavy losses.

"Your Majesty, to intervene in the civil war within the Warhammer Kingdom, we need a major event to attract outside attention and provide cover for us."

The death of Caesar III was a catalyst, but its impact was short-lived and would soon subside.

The recent change of Royal Authority in the Alpha Kingdom was a typical case of father dying and son succeeding, and the country's nobles would not object to Crown Prince Caesar.

To have a lasting impact, it's best to be a major event that affects the interests of many people.

According to our intelligence, the total debt of the Moxi Duchy far exceeds its capacity to bear it, and even the money to pay the interest on its debts is made up by issuing new debt.

Over the past six months, the nobles holding Moxi Duchy bonds have been secretly reducing their holdings.

After being traded repeatedly, a large number of war bonds have now flowed into the hands of many minor nobles and small merchants.

If this news gets out, it will inevitably cause a collapse in the bond prices of the Moxi Duchy. If we take advantage of this to grab a large amount of bonds and demand that the Moxi people redeem them early, this hidden time bomb will explode.

With the Moxi Duchy's debt collapsing, the Alpha Kingdom is bound to be affected. If we take advantage of their misfortune, they might also default on their debts.

The two major nations of the Northern Continent are mired in debt crises, and even when our operations in the Warhammer Kingdom are exposed, they don't bother to intervene.

As for the other forces on the mainland, by the time they take action, our Warhammer Kingdom's operation will probably be over!

Cardinal Solon's proposal instantly drew everyone's attention. What appeared to be a large-scale debt default was in fact a ticking time bomb that could ignite a civil war among humans.

There are three major powers in the Northern Continent. Now, with the Warhammer Kingdom in civil war and the Moxi Duchy and the Alpha Kingdom also facing trouble, the regional balance within the human world has been broken.

After the counterattack against the Beastfolk ended, several powerful nations in the central part of the continent became restless and wanted to expand into the Northern Continent.

The delay in taking action was partly due to constraints imposed by several powerful nations in the southern continent, and partly due to a lack of moral justification for action.

In addition, the Moxi Duchy and the Alpha Kingdom retained some strength after the war, and Caesar III devised the Beast Legion plan, uniting a number of small countries in the Northern Continent.

Although it is not as powerful as the central kingdoms as a whole, they cannot swallow it up in the short term.

The situation is different now.

Without Caesar III as their leader, the loose alliance of the major powers in the Northern Continent, hastily formed, is on the verge of collapse. It might crumble at any moment.

Even moral obstacles will cease to exist after the debt defaults occur.

They could easily use the pretext of armed debt collection to march into the Northern Continent. The minor nobles and merchants within their own countries who would become the last ones left holding the bag would all turn into staunch advocates of war.

If the Church were to seize the opportunity to cause trouble at this time and help them hold back several powerful nations in the Southern Continent, then no one could stop the outbreak of a civil war among humans.

Lighting this fuse is easy; the real challenge lies in maximizing the Church's interests. They can't afford to destroy the Alpha Kingdom, only to see one or more other anti- Church states emerge.

To restore the Church, the best option is to disrupt the current balance within the human race. However, the covetous eyes of other races mean that the overall strength of the human race cannot be allowed to decline significantly.

Weighing the pros and cons, Pope Pius VII paced back and forth in the main hall for a while.

At almost the same time, similar discussions also emerged in the Frankish Kingdom, the Iberian Kingdom, the Kingdom of Hesse, and other kingdoms.

However, everyone has different ambitions and strategic goals, and therefore different inclinations when making decisions.

Even alien races completely unrelated to the Alpha Kingdom engaged in heated discussions about the death of Caesar III.

For a time, the entire Aslant Continent was filled with an atmosphere of impending doom.

What was originally a secret "Calamity of Ten Thousand Years" has been spread far and wide by those with ulterior motives.

In summary, it can be summarized in one sentence: "The Calamity of Ten Thousand Years" erupts - the "Race Overlord" changes.

After hastily concluding the event of the monster cubs recognizing their owners in the Mountain Territory, Hudson got busy.

The King's sudden death forced him to make significant revisions to his previously formulated plans for the development of his territory.

The docks and shipyards have completed preliminary exploration and are just waiting for construction to begin as soon as the canal opens.

It's too much to ask someone to give up something they've spent a fortune on. Hudson wasn't so extravagant as to throw away decades of gold coins he'd invested.

Moreover, compared to the financial investment, the "key" to reaching the sea is the most valuable thing.

Even knowing it was a scheme by Caesar III, he had no choice but to jump into the trap.

If you let go now, you may not encounter such a good opportunity again for the next ten or even several decades.

Even though Hudson's warehouse had a lot of relevant information, without anyone to translate what was written on paper into reality, the information was just a pile of waste paper.

Whether they like it or not, the Mountain Territory will be tied to the royal chariot for a long time to come.

"His Majesty's passing has caused the kingdom's situation to deteriorate rapidly. All of you, please speak your minds!"

Hudson said with a serious expression.

At times like these, the think tank must be put to use. Compared to him, who had lived two lives, these native people have a way of looking at problems that is closer to the mainstream of society.

"My lord, it is better to remain still than to act now. News of His Majesty's death has already spread, and the kingdom is currently in a state of turmoil."

Our intelligence gathering efforts are severely lagging behind. We lack understanding of the situation in the Royal Capital and the stance of the powerful nobles within the country. Rashly intervening will only put us in danger.

It's better to stay put and wait for the situation to develop. We can decide on our next steps once the political situation becomes clearer.

Kane's words greatly disappointed Hudson. He seemed to be a shrewd strategist, but in reality, he was missing a golden opportunity.

As a newly emerging noble family, Hudson was destined to lack the stability and confidence of established noble families. In such a sensitive time of Royal Authority transition, Hudson could not simply evade responsibility.

This incident, in particular, is not limited to the domestic situation; it may also involve some major international forces.

Hudson glanced at everyone, then turned his gaze to the eager CFO, and called on him directly, "Rudolf, why don't you share your thoughts?"

"My Lord Earl, the situation is not good! The timing of His Majesty's death is far too sensitive, and something terrible could happen."

Especially in our Southeast Province, the issue of repayment taxes has caused quite a stir. A large number of minor nobles have gathered at the Governor's Mansion to plead poverty.

It was already difficult enough to collect all the taxes, but now that His Majesty has passed away and everyone is busy with the funeral, the issue of tax collection will probably have to be postponed even further.

We can postpone it, but the kingdom's finances cannot. If this fee cannot be collected, subsequent bond interest payments will inevitably be affected.

Even if the Treasury Department manages to scrape together funds to temporarily cover the deficit in the short term, problems will still arise later.

After all, too many unexpected things can happen during a change of Royal Authority.

The repayment tax that has been determined so far is very likely to be paid this year, but it will not be able to be amortized next year.

I don't believe that the new monarch will be able to subdue the nobles and continue to accept high taxes in a short period of time after ascending the throne.

Not only this tax, but other taxes will also be difficult to pay in full in the coming days. The kingdom's finances are very likely to be dragged down by heavy debt...

After listening to Rudolf's analysis, Hudson couldn't help but exclaim, "No wonder he's a finance professional; his perspective on problems is truly unique."

Compared to the political upheavals, the financial crisis is the most pressing problem that the Alpha Kingdom needs to solve right now.

According to Caesar III's original plan, once the first "repayment tax" was paid in full, it would become a precedent.

With this adjustment period, people's resistance to collection will not be so strong when it is carried out later.

As long as everyone grits their teeth and endures a few years of hardship together, the Alpha Kingdom will emerge from its debt crisis.

After all, this tax payment not only covers interest but also prepays part of the principal, meaning the kingdom will have to pay less interest over time.

Unfortunately, plans can change quickly, and the sudden death of Caesar III disrupted the plans.

The "repayment tax" was interrupted before it could even be collected. Whether it can be implemented in the future depends entirely on the integrity of the nobles in various regions.

Without such a large sum of revenue, no matter how adept the Treasury Department is at patching things up, it wouldn't be able to fill such a hole.

"The analysis is correct; the kingdom's finances could indeed face a crisis. However, this is not comprehensive, as it is also affected by the international situation in addition to domestic issues."

If someone were to take advantage of the kingdom's misfortune, it could very well trigger a run on the bank demanding early repayment before the bonds mature.

The national treasury was already empty. The Treasury Department's scraping together funds could only deal with some minor problems and was simply unable to redeem the bonds ahead of schedule.

While theoretically we could refuse such an unreasonable demand for early redemption, in practice it is simply impossible to do so.

They lent us money for free without asking for interest, and we've used it for so long. If word gets out, the kingdom's reputation will be ruined.

A bank run only affects some bondholders, but a credit collapse can cause all creditors to come knocking.

It might even turn into an armed debt collection drama, forcing us nobles to pay up the money to cover the losses!

Despite saying this, Hudson knew very well that if armed debt collection broke out, what the debtors wanted would not be money.

Despite the large amount of debt owed by the Alpha Kingdom, there are also many creditors. The debt per creditor is at most one or two million gold coins.

If a large-scale war were to break out, this amount of money would be enough for at most a single armed training exercise.