"Spain, recently the most powerful of European states, sank into financial decrepitude in spite of her empire in the New World and in spite of inpouring gold and silver. Spanish state bankruptcies occurred about every twenty years: 1607–1627–1649. ...Spain’s imported gold and silver were pledged in advance to Genoese bankers."
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A History of Interest Rates
A History of Interest Rates, by Harvard graduate, senior partner, and financial analyst Sidney Homer, was published in 1963, copyright Rutgers University Press. Quotes below, unless otherwise noted, are from the fourth edition, revised by Professor , and published in 2005, by John Wiley & Sons, Inc.
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