On Tue, Nov 15, 2011 at 9:31 AM, Thaths <tha...@gmail.com> wrote: > On Tue, Nov 15, 2011 at 8:38 AM, Srini RamaKrishnan <che...@gmail.com> > wrote: > > On Tue, Nov 15, 2011 at 5:29 PM, Heather Madrone <heat...@madrone.com> > > wrote: > >> I have heard that it was the result of an influx of precious metals from > >> the New World, which increased the money supply and allowed the European > >> economy to boom. > The precious metals made their way into the coffers of the Spanish and > Portuguese. What was it traded for with Italy, France, Germany, etc? >
I am reading Charles Mann's _1493_ and this question of mine is precisely answered in the book. A large chunk of the silver (~20-25%) went for trade (Porcelain, Silk) with China. Most of what went to Spain went to finance numerous wars, cover inflation and pay off the heavy debt of the Spanish monarchy. Thaths -- Homer: Hey, what does this job pay? Carl: Nuthin'. Homer: D'oh! Carl: Unless you're crooked. Homer: Woo-hoo! Sudhakar Chandra Slacker Without Borders
