AHC : Colonise the New World without using an establish country.

I disagree that the Catholic Church under the Popes would be glad to be rid of the Jews, and the lands and businesses that were confiscated would pay for it.
Actually the Jews served an important niche in early banking due to Christians not allowed to charge interest.
Prior to the Reformation the Pope condemned violence against Jews.
Only after the Reformation and Counter Reformation when usury became allowable did protection of Jews become problematic.
 
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