«(…)Spain had not only discovered America, it had also defeated the last remnants of Arab rule in Granada and in the coming centuries would drive Muslims and Jews out of Spain. Both those groups were responsible for trade and commerce. The Spanish noble, however, detested work, which was forbidden to him by a bizarre code of honour, and saw his God-given task only in soldiering.
The wealth from the colonies flowed through Spain like liquid gold. Central Europe got rich off Incan gold, while Spain’s noblemen wasted away on ruinous estates, the ‘latifundia’.