Columbus Sails for England; Can Absolutist Britain be Avoided?

Right, in theory Spain benefited from all the gold and silver. The inflation caused was roughly European-wide, which meant that Spain got all the benefit while the pain got spread around.

But as with modern oil dictatorships, an apparent source of easy income is usually bad for a state because it leads the leadership to overstretch itself and ignore the health of the core nation. Which appears to be what happened with Spain.

Sure. That is what I implied with my references to massive wars and poor fiscal policies. But that is seperate and distinct from inflation.
 
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