The Secret of America's Gold: How the Habsburgs Squandered the Riches of the New World

During the height of the House of Habsburg, gold and silver from the New World flowed into Europe, filling the coffers of kings and nobles. However, what began as a dream of greatness ended in scandalous waste. This article explores the fascinating history of how the Habsburgs, between 1516 and 1700, transformed America’s wealth into ruin and decadence, in a saga of unchecked ambition and palace secrets.

The Age of Grandeur: The Conquest of the New World

The House of Habsburg became the most powerful dynasty in Europe under the reign of Charles I of Spain (1516-1556). Upon ascending the throne, Spanish conquistadors like Hernán Cortés and Francisco Pizarro had already begun to strip indigenous civilizations of their treasures. Expeditions to Mexico and Peru unleashed a torrent of gold and wealth that was sent to Spain in ships brimming with riches, each symbolizing the undeniable power of the Habsburgs.

Documents from the era, such as the chronicles of Bernal Díaz del Castillo, describe how in 1532 the capture of Inca Atahualpa by Pizarro resulted in a ransom of over 13,000 ounces of gold. This gold became the economic backbone of the Habsburg monarchy and a symbol of its majesty. However, the gold from America did not just serve to enrich the kings; it also fueled the ambitions of a court that constantly lived in excessive luxury.

Squandering: An Empire in Ruins

As time went on, the wealth of America began to fade amidst luxuries and excesses. The festivities at the court of Madrid, filled with ostentation and extravagance, reflected an empire succumbing to wastefulness. As historian Pedro L... ```