*Note: This is the start of a series of articles explaining where we started and where we're going as a country economically and politically.*
Let's start by talking about how we're repeating history. While doing my online research over the last several years I managed to come across a guy by the name of Daniel Estilan. Through him I was pointed to the collapse of 1345. In order to understand where we're heading as a nation and globe, we need to take a trip back in history to see similar situations.
In 1342 the largest bank in the world was a Venetian bank ran by what was called the "Black Nobility". The reason they received that title was because they were trying to sidestep the Catholic Church's Usury Laws. Usury laws were set in place to prevent banks or private individuals from charging interest on loans, but it was ok to charge fee's. Because the banks only loaned to Monarchs and Aristocrats because they were the only land owners of the day. The banks would charge high fee's, but instead of money they wanted crops and other valuable national resources, this is what real wealth is. 1342 was the start of the collapse that would be in full swing by 1345.
The Venetian bank had over extended itself by making a few bad loans, so in order to make up their reserves they started calling in loans. The catalyst for the collapse came in 1345 when the King of England had defaulted on his loans. This caused an immediate implosion of the bank. With the bank collapsed there was little currency left in circulation.
This collapse disrupted and made certain events during that time period worse than what it should have been. During this time the Plague was in full swing, some believe that the collapse of 1345 caused a higher death toll for the plague. Another significant event was the 100 years war. Over a 120 year period of time 1320-1440 the planet would lose 25% of its total population to these three events (this would be about 2-3 billion people in our time).
*Next article: Currency including the tally stick system and the first Continentals*
