Tiberius (14-37AD) Silver Denarius – the Tribute Penny The Financial Panic of 33AD provides one of the few detailed accounts of events recorded by the ancient historian Tacitus (56–117AD) whose primary focus appears to be moneylending. Of course, Tacitus did not personally experience the event of being born well after that event. Tiberius (14-37AD) […]

  By about 142 to 140 BC,  the Roman monetary system goes through a suspension of the minting of the Roman bronze As. Previously, the silver denarius was valued at 10 bronze As denoted by the “X” on the obverse behind the bust of Roma. The bronze As has declined in weight significantly from one […]

The 16th century saw the collapse of the Germany banking-house of the Fuggers.

The 15th century saw the collapse of the Medici merchant bankers. Today, Goldman Sachs has sought to install its people in key positions in government. This is by no means a new development. The Medici and the Piccolomini families of Italy had installed two Popes to also control papal business and revenues. Other merchant bankers attempted […]

  The Financial Crisis of 1294 that erupted with the seizure of the  Bonsignore’s Gran Tavola by Philip IV of France, expanded rapidly with the seizure of the Papacy itself. Avignon is often referred to as the “City of Popes” because of the presence of the French anti-Popes from 1309 to 1423 during the seizure of the […]

  Banking reemerged after the fall of Rome in Northern Italy. In the town of Lucca, merchant-bankers set up tables in the square to deal with money from exchange, taking deposits, and lending. On the wall of the church in the square you will find to this day the oath of the moneychangers – “no […]

Corruption between government and the bankers is nothing new. During the 4th Century BC, money that was donated to the gods became the temple treasure. Typically, the government would borrow from this hoard of cash and thus temples emerged as bankers. In Athens, there was one of the early banking crisis events involving what we […]