How Spain Went Bankrupt 6 TIMES Despite Owning the World's SILVER

Описание: Imagine discovering a literal mountain of silver, enough wealth to fund an empire where the sun literally never sets. This wasn't fiction; it was 16th-century Spain after the accidental discovery of Cerro Rico, Potosi. They received more silver than the rest of the world combined. Yet, within 150 years, this global superpower collapsed into insolvency, suffering 6 national bankruptcies and crippling inflation that hit 400%. This is the ultimate case study in the dangers of confusing mere money with true wealth. We reveal the fatal miscalculation that turned Spain's greatest blessing—its endless silver—into the silent virus that destroyed its economy from the inside out.

Learn how the flood of Potosi silver triggered the first major inflationary crisis in modern history (The Price Revolution).
Understand the "Resource Curse" and why Spain's silver immediately flowed out to enrich its European rivals.
Analyze the brutal financial strategies of Philip II, including debt cycles, 40% interest rates, and 6 sovereign defaults.
Discover the cultural shift that valued status (Hidalgo) over productivity, sealing Spain's economic fate.

00:00 Intro: “winning the lottery” and the dark side of easy money
00:45 Spain before the silver: militarily strong, economically weak
02:10 1545 – The discovery of Potosí (Cerro Rico) and the silver rush
04:10 Potosí explodes into a city: fast wealth and violence
06:00 The Mita system: forced labor and the human cost
08:10 Mercury silver extraction: an “industrial revolution” of its time
10:40 Silver flows to Europe: the “Piece of Eight” and global trade
12:30 The Price Revolution: inflation surges as silver floods in
15:20 Domestic goods lose competitiveness, imports rise: the “resource curse”
18:10 “Hidalgo” culture: looking down on production and business
21:00 Philip II and endless wars: burning silver for imperial ambition
24:20 The 1588 Armada fails and the “Asientos” debt trap
27:30 Repeated defaults and social fallout
30:10 Debased copper coinage (“Vellón”) and runaway inflation
33:00 Silver output declines; Spain’s long-term decline
35:20 Final lesson: money can’t replace productive capacity

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