Why The Spanish Empire Went Bankrupt Mining Too Much Silver

When the Spanish colonized the Americas, they found mountains of gold and silver in Mexico and Bolivia.

The Spanish dreamed this would make them the richest empire on earth.

Here’s why it bankrupted them instead.

~

[Blaqjaqshellaq]

The gold and silver windfall ultimately benefited Spain's enemy Holland a lot more! (The Dutch were better at financing long-term economic development...)
Similarly, 18th-century Brazilian gold ultimately helped launch Great Britain's industrial revolution...

[goyimkiller]

The spanish also mined so many platinum(wortgless at that time) that they throw them at the ocean for being worthless.

[julianwitkowicz]

Great video overall but at 0:19 the map is incorrect. Spain lost its last American possession (except Cuba and Puerto Rico) of Peru in 1824, while it obtained first colonies in Africa in the Gulf of Guinea in 1843, Spanish West Indies and Spanish Guinea + West Africa did not exist at the same time

[Logano]

All they had to do was limit mining or do what they do in today diamond market and only release x amount metals every x amount years into the market

[Dennis-yceb]

These short videos are great. The script and graphics are done well, are packed with fascinating info but they move along.

[jonathanwells]

So instead of minting coins they should have traded it to other countries as bullion.

[KrlKngMrtssn]

Fun fact, today, the USA has more Spanish speakers than Spain herself. So sorry to say, Spanish has been spoken in US territory well before the USA came to be, and therefore Spanish legacy can be seen in North America, too. Not only central and South America. (Btw Mexico is evidently part of NA)

[agussw]

So, don't convert your money to silver? But convert to food or goods?

[KevinLopez-pull]

If not for Spain, Europa would have nothing to trade with india.

[madzen]

I'd read a good book on this subject

[TheRealTomahawk]

Even Solomon had so much silver. It was counted as nothing however, his country didn’t collapse. I guess they didn’t have enough gold.

[alpante]

Because the mining business had stop😂 some took over that is mine, also mines and those are mine too😢😢😢

[ChicagoDB]

A major flaw in this video...he either doesn't know or didn't care to mention that the crisis which occurred was caused by the Pitosi debasing scandal...

[lukewarm]

So if Spain slowed its mining operations or simply found alternative uses of its silver Spain would have been more Interessante

[zack_]

It's the conservation law of nature that took the colonizer down.

[Mr.Infumus]

Nick just wants to hog all the silver for himself. Dont listen

[IblewuponyourfaceIII]

Mexico & the Caribbeans is in North America… why do people just mention Central America… a region in North America? Lol

[jojogo]

Too fast. Can you explain in layman's terms.
You say inflation started to rise....why, in a stable economy did inflation rise.
Einstein.... If you can't explain it so a ten-year-old can understand it, there's a chance you don't understand it yourself.

[williamthebonquerer]

But people act like the gold standard would fix all our problems