Part II - Silver Heist Started 550 BC (Athens v Sparta) then Rome, then European Colonialization, Fast Forward to NOW
Since 1600, a minimum of 500,000 tons (approximately 16,000,000 ounces) of silver have been extracted from Mexico, Central, and South America.
The dominance of Athens and Rome is known as the Greco-Roman period.
This era signifies the cultural and political influence of ancient Greece and Rome, highlighting their interconnectedness and mutual exchange of ideas, art, architecture, and governance.
The Greco-Roman period is characterized by blending Greek and Roman traditions, philosophies, and artistic styles, leading to a rich cultural synthesis that shaped Western civilization.
The purpose of today's article is to discuss how most historians focus on art, architecture, literature, and philosophies but need to include the parallels of how the failure of the fiat money system is linked to Greco-Roman.
There is plenty of adequate research on Rome's fall, but currency debasement did not start in Rome. It began in Athens. The Pickaxe is the only contemporary precious metals reporter that discusses this.
Moreover, our research work with Anthropologist David Graeber substantiates this. Inspecting and testing the "owl" coins in the late stages of war shows we are right.
During the Peloponnesian War (Athens defeated Sparta), Athens started debasing or plating coins (covered only in silver) towards the war's end to overcome their self-inflicted economic crisis. The war was initially "sold" or promoted as a 1 or 2-year campaign, but just like today's unending wars, it lasted for over 27 years and bankrupted Athens, making them vulnerable to fall to Rome.
Most scholars get it wrong when they say Rome fell because they diluted their silver coins (True statement, but it was only one of the contributors. Now you will read the other contributing reasons)
Diluting silver coins (also known as debasing currency)
Rome Ran out of Energy (they cut down all the trees.) They had a wood-fired energy model. Yes, the Romans were first recorded as using coal reasonably extensively, but it was very late in their reign. After they invaded Britain in 43 AD, they discovered coal fields and realized that coal provided superior heat than wood and charcoal. During the Roman occupation, coal was used as fuel to heat baths, as ornaments, and for iron forging. It was also used for religious ceremonies to worship the goddess of wisdom, Minerva. As part of this worship, the Romans utilized coal to sustain a 'perpetual fire' at a temple in modern-day Bath.
Despite these uses, there's little evidence to suggest that the Roman's mined extensively for coal.
China was the first to use coal, dating back to 2500 BC, and used in metallurgy around 120 BC.
Rome also fell because of the gap between the rich and poor. The Roman Senate and their allies held over 95% of the wealth; they kept the plebians distracted with coliseum games and established "free grains/bread," hence the name "bread and circuses."
The Latin term "panem et circenses" was coined by the satirical Roman poet Juvenal. It refers to providing food (bread) and entertainment (circuses) to distract and pacify the population from pressing issues or grievances. The Roman poet Juvenal lamented that the Roman citizens, who had lost their democratic freedoms, were only concerned with basic needs like bread and entertainment. Today, it would be likened to US citizens being preoccupied with WiFi speeds, The App Store, Bracketology, Netflix content, and what Taylor Swift is up to. (Disclaimer: her song Style is kickass)
The phrase "bread and circuses" symbolizes governments' strategy to keep the populace content and compliant through superficial means rather than addressing fundamental societal problems. This concept highlights the trade-off between short-term satisfaction and long-term civic responsibilities in a society.
Summary: Rome fell for 5 chief reasons 1/ Insatiable lust for war known as nation-building 2/ Colonizing others led to a growing list of enemies 3/ Poor Stewardship of Energy 4/ Poor public policy, a system based on "state capitalism" where the ruling class hoards the assets valued by society such as wealth, power and prestige and 5/ The passing of hundreds of useless laws intended to keep the masses frightened, marginalized and severely punished.
The infamous road in Rome, the Appian Way, or Via Appia Antica, was a main trade route crucial in connecting Rome to its distant settlements. This ancient road, built in 312 BC, was initially constructed for military purposes and later became a significant economic artery for the Roman Empire. Along the Appian Way, a haunting historical event occurred where hundreds of slaves, including the famous leader Spartacus, were crucified side by side in 71 BC as a brutal display of Roman power and control. The Appian Way also holds religious significance, as early Christian converts were buried along this route. It was the path St. Peter took as he fled Nero's persecutions in 64 AD.
Chapter I - Greco-Roman Silver Heist
Mines of Laurion (depleted from war)
Mines of Spain (depleted from war)
Spain now must go on adventures for resources.
Chapter II - Spanish Silver Heist
Cortez (steals the Aztecs precious metals)
Pizarro (steals the Inca's precious metals)
Potosi
Mexico
During the Spanish colonization of the Americas, Spain established several significant mining districts in Mexico, Central America, and South America to extract valuable resources like silver.
Potosi, located in present-day Bolivia, was one of South America's most productive silver mines.
The mines in Potosi were known for their immense wealth and productivity during the colonial period.
In Mexico, some of the prominent mining districts included Zacatecas and Guanajuato. These regions were key centers for silver production and played a crucial role in Spain's economic interests in the New World. The silver extracted from these mines contributed significantly to Spain's wealth during that era.
Regions like Guatemala and Honduras in Central America also had notable mining activities, although they were not as prominent as the Mexican mining districts.
These areas contributed to Spain's overall mineral output and economic prosperity.
The operation of these mining districts involved a substantial number of indigenous laborers who were often subjected to harsh working conditions.
African slaves were used extensively in silver mining during the Spanish colonization of the Americas.
The involvement of African slaves in mining activities, particularly in regions like Potosi in Bolivia and other mining districts, was significant. While Amerindians were also involved in mining, slaves performed various tasks in mining camps from Zacatecas to Potosi.
The exploitation of African slaves in silver mining was part of the broader system of forced labor that characterized Spanish colonial activities in the Americas.
The extraction of silver and other minerals from these mines generated considerable wealth that was sent back to Spain, enriching the Spanish crown and fueling its imperial ambitions.
TONS OF SILVER WERE EXTRACTED FROM LATIN AMERICA TO ENRICH THE EUROPEAN RULING CLASS
Silver shipped to Spain from Latin America.
By 1600, around 25,000 tons (approximately 800 million ounces) of silver had been shipped to Spain from the New World.
This massive influx of silver from regions like Potosi in Bolivia, Mexico, and other parts of Spanish America significantly enriched Spain and fueled its economy during that period.
Just like Rome and Athens before, the same playbook played out, and Spain began to take the silver and gold and vault it for the King and his court. Meanwhile, the King issued Juros to the public. Juros are war bonds.
Thus, people are infected with paper substitutes for gold, which has become increasingly worthless.
Whereas Rome and Athens debased the currency by introducing inferior metals or silver plating, Spain's (Juros) and France's (Rentes) were De-Facto war bonds to fund wars. This Edict from the King initiated misery among workers who were accustomed to trading among themselves with silver that could be trusted. It gave citizens, laborers, and merchants autonomy and Freedom from the Apparatus of the State.
This new form of currency debasement is printing paper, which has the same net effect as clipping coins or introducing less valuable base metals like tin.
Since 1600, it is estimated that close to 250,000 tons (approximately 8,000 million ounces) of silver have been extracted from Mexico, Central, and South America. Most of this wealth has gone to a new form of colonization called "Neo-Colonialism," or companies operating out of the Northern Hemisphere.
Now you will understand why this movement in Mexico to Stop Exploitation by North American-owned Miners is beginning to spark interest among silver mining investors and the people of Mexico
(Editor's note: The Pickaxe only works with miners who check all the boxes regarding a requirement for responsible investment in Latin American mining districts. Our handpicked companies like Outcrop Silver in Columbia and Kuya Silver in Peru as examples)