Money makes the world go round
Art, politics, economy, war and society are well connected with one thing called the finance. That is the connection which goes down to Italy in 14th century and to the beginning of modern banking.
Modern banking developed in renaissance when the banks and the best known was the one of family Medici, started to run business on more complicated level. Those new were not only lending money to kings, but they have a complex accounting, and they were involved with different forms of transactions and they were running business from lots of places. When we talk about renascence most of you will think about blossom in art and architecture, but renascence also blossomed up the finance.
Development of finance was kind of backing for other significant events in world history. In 18th and 19th century Great Britain developed the bond market and with that took the first place in the world of finance. That was the bar which contributed to imperial success.
Let’s see who the pioneers in banking were:
1. Giovanni de Medici was a banker from Florence and he upraised the Medici family by expanding the family net of banks. He intensified methods of working and also expended line of working to insurance of risk. Giovanni died very rich, and his son Cosimo carried the family business and became the most powerful man in Florence.
2. John Lo was a Scottish economist who runs to France after killing a man in a duel. He convinced the French court to accept his financial strategy, what gave him control of a big part in kingdoms economy. His plans in developing French land possessions in America, best known as “Rise of prices on Mississippi” went wrong in 1720, which had a big influence in financial development in France.
3. Nathan Rothschild was a member of the famous banking clan. Nathan helped the Britain trough Napoleon wars by smuggling gold on the continent. He showed his guts on London stock market, where he got his nick name the napoleon of money. On the time of his death his wealth was amounting 0.62% of the national incoming in Great Britain.
4 Gerson von Bleichröder was collaborating with Otto von Bismarck and he helped in uniting the Germany 1871. Bismarck landed a hand on him when it came to collecting money for the war against Austria, and when it came to negotiation with France about the war compensation, which France had to pay for Prussia. He was Bismarck’s councilor even when Bismarck was the canceller of Germany.
5. George Soros was born in a Jewish family in Hungary. He got to live the Nazi occupation and went to live in USA. He made a big amount of money with risky investments and speculations with currency. The best known event from his life is the one from 1992, on “black Wednesday” when he earned a million of dollars betting against the value of the pound. Most of his fortune after his death went into charity.
Money indeed makes the world go round, and as the time goes it more likely that it will make it stop one of these days. Did we get to learn something from the history? Anyhow, we
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George Soros is an ultra left wing nut who owns B92 in Serbia. Beware of his propoganda. On a side note, you left out the creation of the Federal Reserve Act of 1913 and Richard Nixon in your article. The Federal Reserve Act established the most powerful entity in the world today, the Federal Reserve Bank of the United States. Through Richard Nixon, the Federal Reserve expanded their power by persuading the powers that be to take the United States off the gold standard. As a result, money could be printed without any real value behind it. Fiat currency was created. We are seeing the devasting results of these actions today.