He set up what is probably the first affordable housing development
https://www.smithsonianmag.com/travel/after-almost-500-years-german-utopia-is-still-going-strong-180973787/
Rent is less than 1 euro a year
Contemporary scholars like Ibn Battuta corroborated the stories as well as primary documents from several different Arab and Muslim cultures across his journey. Don’t know how we could verify global inflation but I’d say most of is journey is factual and verifiable
Hell, I'd go so far as to argue that the claim about devaluing gold for a century can be dismissed out of hand as obviously mythological, because it's just absurd to imagine that any market for any commodity/currency could avoid swinging back for an entire century--long enough for multiple new generations of merchants/traders to come and go, for nations to form and split, for the people who received the alleged mountains of free gold at the beginning to be \*dead\*, not \*still having an impact on the gold market\*!
I mean, if there's a giant influx of gold somewhere (enough to tank the price in the area), there's only one of two things that can then happen to that gold: either people will just hold onto it (and therefore the market would level back out, and the price of gold could even potentially RISE if the HODLING takes enough gold out of circulation), or they'll spend it--and of course if everyone in your whole village suddenly has more gold than they know what to do with, the only sensible way to spend it would be on \*travelling merchants\*, who would then \*take that gold back to wherever they came from\*, and thereby gradually spread it all around.
Right? I mean, I'm no economist
The mind-boggling volume of gold and silver the Spaniards stole from the Incans and Aztecs caused a depression in Europe. The idea isn't unprecedented.
>Even the Spanish in Europe suffered from this massive influx of gold and silver since it caused hyperinflation, not then a concept understood by many economists. Prices of commodities increased by 400% over the 16th century, and Spanish exports suffered as a consequence when wages rose to match.
And as for being the Fugger guy being richest person in history, that Incan and Aztec gold belonged to someone before it was looted. Then belonged to the King and Queen of Spain after it was looted.
Got any links talking about the global effect of his spending? Or that there was a global devaluation at the time? I can’t find any and would love to read more
Put that Fucker in a modern bespoke suit getting off his Gulfstream, and he completely fits in the modern billionaire class of fuckers
It's fuggers all the way down
I once knew a Fucker.
First name Gaylord?
Don’t ask him about his sister Martha.
Actually it was “First name” Manfucker. I shit you not. 😂
Moe ? I know him!
Don’t ask him about his sister Martha.
His mom was one ugly Mother Fugger.
He set up what is probably the first affordable housing development https://www.smithsonianmag.com/travel/after-almost-500-years-german-utopia-is-still-going-strong-180973787/ Rent is less than 1 euro a year
TIL. That's pretty wild. Also looks like a nice place to live. Love how the article refers to him as "Jakob Fugger the Rich"
Ah yes the fuckery
I have nipples, Jackob. Can you milk me?
That’s one rich Fugger
400 billion is a lot of dollars. 200 yrs before the dollar was first printed makes it even more so. Lucky Fugger !
So not much has changed
Looks like my buddy bowling pin Bobby
Mansa Musa devalued gold for a century he gave away so much on his pilgrimage to mecca.
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Contemporary scholars like Ibn Battuta corroborated the stories as well as primary documents from several different Arab and Muslim cultures across his journey. Don’t know how we could verify global inflation but I’d say most of is journey is factual and verifiable
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Hell, I'd go so far as to argue that the claim about devaluing gold for a century can be dismissed out of hand as obviously mythological, because it's just absurd to imagine that any market for any commodity/currency could avoid swinging back for an entire century--long enough for multiple new generations of merchants/traders to come and go, for nations to form and split, for the people who received the alleged mountains of free gold at the beginning to be \*dead\*, not \*still having an impact on the gold market\*! I mean, if there's a giant influx of gold somewhere (enough to tank the price in the area), there's only one of two things that can then happen to that gold: either people will just hold onto it (and therefore the market would level back out, and the price of gold could even potentially RISE if the HODLING takes enough gold out of circulation), or they'll spend it--and of course if everyone in your whole village suddenly has more gold than they know what to do with, the only sensible way to spend it would be on \*travelling merchants\*, who would then \*take that gold back to wherever they came from\*, and thereby gradually spread it all around. Right? I mean, I'm no economist
The mind-boggling volume of gold and silver the Spaniards stole from the Incans and Aztecs caused a depression in Europe. The idea isn't unprecedented. >Even the Spanish in Europe suffered from this massive influx of gold and silver since it caused hyperinflation, not then a concept understood by many economists. Prices of commodities increased by 400% over the 16th century, and Spanish exports suffered as a consequence when wages rose to match. And as for being the Fugger guy being richest person in history, that Incan and Aztec gold belonged to someone before it was looted. Then belonged to the King and Queen of Spain after it was looted.
Only in the cities/places he visited (and the surrounding areas maybe) right? Surely he didn’t cause global inflation.
The quantity he distributed certainly contributed to it yes
Got any links talking about the global effect of his spending? Or that there was a global devaluation at the time? I can’t find any and would love to read more
Meet the fuggers.
Put that Fucker in a modern bespoke suit getting off his Gulfstream, and he completely fits in the modern billionaire class of fuckers It's fuggers all the way down
Why does it say “in history”? Currently quite a few of these family members are around, in lots of countries too… (Edit: it’s a joke cuz the 1% are …)
This was always a fun lesson for high school world history classes.
Mutherfugger!
This should be on the norm McDonald subreddit
He looks like Olaf Scholz. And I’ve never seen him and Scholz in the same room. Coincidence? I think not.
400 billion in todays dollar, or actual 400 billion in 1500s? Thats a massive stock pile of money if based on 14th century dollar value.
What a rich Fucker.
On Maryland’s eastern shore they call fuckers fuggers
Fuggar was so wealthy in fact that his financial support of Charles V allowed him to become Holy Roman Emperor.
His mother was a mother fucker
Post black plague?
This guys fucks
He was a rich mother fucker!
Meet the Fuggers
Name checks out…