re: ‘Holy grail of shipwrecks’: recovery of 18th-century Spanish ship could begin in April

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What claim would they have to this?

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The mines in the Andes.

But if it weren’t for the romans would that knowledge of mining made its way through Europe and eventually the Americas?

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The Romans were well known as specialists in hydraulic mining. To expose and release gold deposits from the earth, they used hydraulic pressure. Miners would carve aqueducts into the rock, which were used to transport water from the nearby creeks and rivers. Then the flow of water would fill the excavated cavities, causing pressure streams strong enough to pierce and break up the thick rock walls.

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Hmm, old world inflation and increasing money supply.

We have learned nothing.

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The influx of gold contributed to Spain’s relative decline and low living standards in future centuries. The Spanish spent their gold on commodities from other countries, without producing much in terms of exports themselves. Because consumer goods could easily be imported, there was little incentive to produce goods and undertake the necessary investments in infrastructure and develop the domestic economy, particularly in respect of investing in technology. When the flows of gold dried up, the Spanish economy was left lagging behind that of its European neighbours, which led ultimately to a decline in the Spanish empire.

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