The Peasants' Revolt of 1381.
Source: "Chronicles of Froissart," by Jean Froissart, 1388.
How timely! Following my earlier posts on Greenspur and its bean-counters, here's extra food for thought drawn from real-world history.
(Reposted here from the article on Bloomberg.com)
The financial news has recently been
dominated by the scandal over the London interbank offered rate
(known as Libor), with allegations that leading banks have
manipulated a financial benchmark determining the interest rates
charged to millions of borrowers and used in derivatives
contracts worth hundreds of trillions of dollars.
The U.K. Parliament has become involved, grilling the
former chief executive officer of Barclays Plc (BARC), Bob Diamond,
over these events. But none of this is entirely without
precedent. A new study of the foreign-exchange market in the Middle
Ages, conducted by the University of Reading’s ICMA Centre, has
documented a medieval system of exchange-rate manipulation
similar to today’s. That system also led to public outcry, a parliamentary
investigation and the impeachment of a famous financier.
A major aim of financial innovation throughout history has
been to circumvent regulations and restrictions placed on the
industry. In the Middle Ages, an important obstacle was the
religious disapproval of usury -- the charging of interest or
“making money from money.” Dante condemned the usurer to the
lowest level of the seventh circle of Hell. To avoid the “taint
of usury,” medieval financiers developed various methods of
disguising interest within other transactions.
Another good example, maybe more for Darokin, is the Danish Tulip Riots. A lesson if well learned could have prevented many market crashes througout history. I believe the real lesson learned is that no matter the risk, people will buy thinking the profit will not run out on them...
ReplyDeleteThe discovery of a few trillion carats of diamonds in the Great Crater (based on the recent discovery that the Soviets were keeping their colossal hoard a secret) in early AC1020 will allow Prince Kol to establish a Diamond Throne with the economic power to buy and Sell even the Thyatian Empire.
ReplyDeleteUnfortunately dumping a few billion gold pieces in diamonds into the global Mystaran Economy is not without effect.
So if you don't mind...Prince Kol is just going to bribe all two hundred Thyatian Senators into removing the Emperor as of Nuwmont 20, AC1020 with a firkin of diamonds (20 million gold pieces worth per barrel) each.
Interesting scenario which is bound to turn against Kol sooner than later as others find out about his treasure trove!
Delete