The Ottoman Empire had once been the most dominant superpower in the world. But that had been centuries prior in the 1400s. By the mid-1800s, the Ottoman Empire had fallen far behind European powers like Britain and Prussia, and its economy was in such bad shape that it became known as the "Sick Man of Europe".

Then the Crimean War broke out– one of the most pointless and easily avoidable conflicts in history– and suddenly the Ottoman Empire found itself with no money to fight.

That's when British bankers entered the scene… led by Baron Lionel de Rothschild, who orchestrated a £3 million sovereign bond for the Ottoman Empire.

The bonds yielded 7.5% initially… which was considered a fairly high rate of interest. But it wouldn't be long before the Ottoman government had spent all the money and needed to borrow more funds.