He effectively monitized the debt. The new bills were backed by the treasury bills that were owned by foreign governments. The money printed had effec...ively nothing behind it, so the value of everyone else’s money was diluted. This let Kar ‘pay off’ much of the Muldavian national debt using ‘cheap money’. When the citizens of Muldavia saw that Kar was paying off the national debt, they gave him all the power he needed to ‘fix the economy’. And ‘fix’ it he did. The press had been very careful to. ‘That should work if the sail lettering AV107 is a local yacht,’ he said to the coxswain. ‘Yes sir.’ A radio rating hurried over and said, ‘We have contact via radio-telephone sir. The sole occupant and owner-skipper is Miss Kelly Nathan, a blue water solo sailor of repute sir. She says she’s okay but is waiting for you to speak to her.’ ‘This is Lieutenant Commander Barrett of the naval patrol vessel Rushcutters Bay Miss Nathan.’ ‘Hi commander do you require a tow?’ The ship’s senior officer. More

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