From Frankfurt’s Judengasse to the World’s Bankers

From www.economywatch.com; David Smith

The World's Richest Family - You Didn't Know AboutMayer Amschel Rothschild, the founder of the modern dynasty, was born in 1744. He made a small fortune in coin trading. After expanding his business, he dispatched his five sons to set up new branches. One son stayed in Frankfurt, the other four set up branches in London, Paris, Vienna and Naples. Of these, the most important became London and Paris.

The most talented of the boys was Nathan, who arrived in England in 1798, aged 21. After 10 years working as a textile merchant in Manchester, he took a small office near the Bank of England in London, from where he soon realised there was money to be made out of the outcome of wars.

In the greatest coup in the history of banking, he provided financing for the cash-strapped Duke of Wellington’s Army. Wellington was expected to lose and Rothschild was aware that an upset win would send the market soaring.

Read the whole thing here.

Advertisements

About 3xG Admin

I am interested in Gold, Silver, Energy, Geopolitics, Economics, Religion, Demography, History, Complex systems, Critical theory, Antipositivism, Sociology of knowledge and Chaos theory.
This entry was posted in History and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s