Originally posted by wastevens
The one thing that really kind of bugs me about the Ragara write up- they *really* need a plan for "what happens when a bunch of Houses just default on their debts"
It's like- financial power is *great* in a stable system that helps enforce contracts and property rights. It's... less useful when your debtors could credibly just walk away. And it's not hard to imagine a bunch of defaults once the Civil War proper starts- hell, that's the sort of thing that could reasonably precipitate it.
Pelleps Bob says "Fuck you" to the Ragara Alice who comes to repossess his ship.
And then, Ragara Alice leaves and comes back with a brute squad to forcibly claim their lawful property.
And then, Pelleps Bob and his Hearth say 'You and what army'
... somewhere down the line — and probably not far down the line, since Peleps Bob is going to need money to pay his troops and maintain his ships now that there's a war on — Peleps Bob needs another loan and goes to a non-Ragara lender, only to find that the terms are harsher than even the most cutthroat Ragara loan. This is because defaults aren't unilateral. "If you won't pay Ragara back," lenders think, "how can I be sure you'll pay me
(Ragara's fiscal vulnerabilities are discussed in the economics section of The Realm
EDIT: Certainly, a situation like you propose can happen anyway. But it's risky. Those who agree to default with you might back out, leaving you stranded and financially floundering. Or if Ragara ends the war in a stable position vis-a-vis the new regime, the defaults will cripple you (or, if you didn't survive, your next of kin) and your allies.