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They created modern banking. The Medici Bank [1] extended credit across Europe to finance trade. [1] https://en.wikipedia.org/wiki/Medici_Bank https://en.wikip
by osullivj 8y ago
They created modern banking. The Medici Bank [1] extended credit across Europe to finance trade.
[1] https://en.wikipedia.org/wiki/Medici_Bank https://en.wikipedia.org/wiki/Medici_Bank
- rurban 8y agoand they were followed by the Fuggers, the Welsers, and finally the Rothschilds. Interestingly the Medici fall down was caused by the exact same terms of the success of the others: Financing wars. The Medici had just bad luck that their king (of England) lost his war, and the Tories never paid them back (of course). The Germans and then the Rothschilds were more clever, they've won their important wars.
- eunoia 8y agoIsn’t the real lesson behind the Rothschild’s generational success that your king is inevitably going to lose a war or two and therefore to diversify beyond a single kingdom?