Despite continuous exchanges, the Clergy inevitably ended up with more and more bonds due to the one-month buffer period.
At first, when looking at the continually reported bills from his subordinates, Shelter VII was impressed by their efficiency. But gradually, he realized something was off.
Appointments for exchange posed a substantial risk to large holders of war bonds like them.
What if they don't have enough time to cash in and the Alpha Kingdom's cash flow runs out, declaring default ahead of time? Then they would be left holding these worthless bonds.
"Send a command down not to continue buying. First, exchange the bonds we have in hand, then buy the second batch!
Also, after the exchange is completed, send someone to monitor the Alpha Kingdom to see if they are really openly burning their bonds."
