What happened as a result of Mansa giving out so much gold in Egypt?

Answers

Answer 1
Mansa Musa was one of the richest, if not THE richest, man in the history of the world. He was the king of Mali, which is pretty much the closest the world has ever had to a real-life El Dorado. Gold was literally everywhere in Mali. By the end of the 14th century, in fact, over two-thirds of all the gold in Europe came from the kingdom of Mali.

Now, back to Cairo. At the time, the Egyptian capital was fabulously wealthy, and had the world's largest gold market. When Mansa Musa showed up, he brought with him around 60,000 companions and 12,000 slaves, all of whom were carrying four pounds of gold each. In addition to that, he brought with him eighty camels, each carrying three hundred pounds of gold.

Assuming these numbers are exactly accurate (they are just a ballpark figure given by scholars), Mansa Musa brought into Cairo-- the largest gold market in the world--- 312,000 pounds of gold.

In today's money, Mansa Musa walked into Cairo carrying roughly five and a half billion dollars.

Now, this is more gold than Cairo had ever seen. And the answer to your question of who ended up with the gold is this: Everyone.

Mansa Musa appears to have been extremely generous, and he freely gave out gold to pretty much everyone that crossed his path. He gifted beggars huge blocks of solid gold, and paid at random bazaars with fistfuls of gold dust. He even had a mosque built specifically for him to pray every Friday. No, I don't mean that he had a mosque built so that he could go in and pray every Friday. I mean that he would have a different mosque built every week for him to go and pray on Fridays.

Altogether, it's estimated that Mansa Musa spent 71,000 pounds of gold. The problem here will be clear to any economist: If everyone has gold, then no one has gold. The incredible and sudden influx of riches cause hyperinflation the likes of which has never quite been seen, and caused gold to become worthless. Like I said before, Cairo was the world's largest gold market at the time. By making gold worthless, Cairo's economy was plunged into very, very dark times.

It is possible that Mansa Musa's intentions were good, and that he was just way, way, way too generous. However, I'm not sure I buy it. He was a shrewd ruler and single-handedly put Africa in the map (literally--- check out the Catalan Atlas). I think an argument could be made that Mansa Musa was, in fact, quite aware of the effect his gold would have, and he traveled to the greatest gold market in the world; who were, in effect, his direct competitors, with the intention of weakening them while ensuring that Mali would not be affected by the potential issue of hyperinflation.

Related Questions

What are some of the features of ancient civilizations​

Answers

Historians have identified the basic characteristics of civilizations. Six of the most important characteristics are: cities, government, religion, social structure, writing and art.

What happened to World War I veterans because of the stock market crash?

A. They could not get their bonuses when they needed them.

B. They were given bonuses by the goverment to help the economy.

C. They were expected to repay the pensions they had received

D. They did not get the pensions they had been promised.​

Answers

Answer:

Your answer would be letter A. They could not get their bonuses when they needed them.

Explanation:

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The stock market crash of 1929 had a significant impact on World War I veterans. In 1924, the government had promised a bonus to veterans of the war, to be paid in 1945. However, as the economy worsened, many veterans found themselves out of work and struggling to make ends meet.  Thus, option A is correct.

What was the stock market crash of 1929?

The stock market crash of 1929 was a sudden and severe decline in stock prices on the New York Stock Exchange (NYSE) in late October of that year. The crash was a significant event that marked the beginning of the Great Depression, a decade-long period of economic hardship and high unemployment that affected much of the world.

In the years leading up to the crash, stock prices had risen rapidly, fueled in part by speculation and easy credit. However, in September and October of 1929, a series of events, including the failure of several banks and the decline in consumer spending, led investors to begin selling their stocks.

As the selling increased, prices fell sharply, and many investors found themselves with significant losses. The crash triggered a wave of panic selling and a broader economic downturn that lasted for years.

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Which was an effect of the Panic of 1819?
a) London banks offered to make more investment in the United States.
b) Americans who had borrowed too much money were financially ruined.
C) Americans were not required to repay their loans immediately.
d) The federal government created the Second Bank of the United States.

Answers

Answer:

Americans who had borrowed too much money were financially ruined

What were 2-3 activities that helped women gain confidence in their own lives and in the lives of other women?​

Answers

Answer:

I believe its these people I could be wrong but Elizabeth Cady Stanton, Susan B. Anthony, and Lucretia Mott.

Power struggles from ancient times continue today...
A) but slavery no longer exists.
B) but democracies like the U.S. and Canada always protect the weak from the strong.
C) with technology an increasingly powerful asset in fighting wars and making money.
D) except there are no longer any famines around the world.​

Answers

Answer:

the answer is C

Explanation:

Slavery still exists in other countries

U.S and Canada don't always protect the weak

There are still famine around the world

What were three effects of the printing revolution?

Answers

Answer:

1. Printing reduced the cost of books.

2. The time and labour required to produce each book came down, multiple copies could be produced with greater ease.

3. Books flooded the market, reaching out to an ever growing readership.

Explanation:

Liham pasasalamat para sa mga natatanging pilipinong nakipaglaban para sa kalayaan ng bayan

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Answer:

liham pasasalamat para sa mga natatanging pilipinong nakipaglaban para sa kalayaan ng bayan

Which of these movements and events developed as a reaction to excess
consumerism and pressure to conform socially after World War II?
O A. The Beat movement
O B. The baby boom
O C. Hawaiian statehood
O D. Increased education through the G.I. Bill

Answers

Answer:

The Beat Movement.

Explanation:

The Beat Movement became one of the most significant sources of contemporary counterculture, originating in the 1950s. They were a new generation that rebelled against the conventions of mainstream American life and excess consumerism and pressure to conform socially after World War II, which ended in 1945.

a) The Beat Movement

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Which of the following cultures based much of their conquests on the need for more candidates for human sacrifices to the gods?
O Aztecs
O Incas
O Mayas
Incas and Aztecs

Answers

Answer:

Your answer is ,A-Aztecs

Explanation:

Hope this helped you

Answer:

A- Aztecs

Explanation:

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Read the excerpt from the journals of Lewis and Clark, then answer the question.

Based on what you’ve learned so far, why did Lewis and Clark hand out different-sized medals?

Because they owed one chief more than the other.

Because some chiefs had given them more valuable gifts first

Because they wanted to indicate that some chiefs were more powerful in their eyes than others

Answers

C: Because they wanted to indicate that some chiefs were more powerful in their eyes than others

Answer:

The other person is right.

Explanation:

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What motivated Joan of Arc to help reclaim the French throne?
She was an heir.
She had military training.
O She was an adviser to the king.
O She said God had told her to do so.
QUICKKKK!!!

Answers

She said God had told her to do so. She was even held trial for heresy in England.

How did the labor systems and economic policy of mercantilism that Europeans used in the Americas affect the new world

Answers

Answer: Americans provided raw goods to Britain, and Britain used the raw goods that were sold in European markets and back to the colonies. The colonies could not compete with Britain in manufacturing. The more the colonies export, the more wealth and power Britain has.

Explanation:

May someone help me? Please? Thanks! Just the one box pls. thank u!

Answers

their economy was supported by agriculture. most were artisans, merchants, or craftspersons.

Answer:

(Dravidians)  Jobs -  Farming/Economy - supported by agriculture

tolerated many religions /had their own language

Explanation:

Note:  make corrections in the chart (Aryans - should be capitalized)

Describe their Geography:

Harappa/Mohenjo-Daro - archaeological site in province Sindh, Pakistan. Built around 2500 BCE,  they founded the civilization named  Harappa.  

The most significant development in civil rights in the 1950s was the Montgomery Bus Boycott.’ How far do you agree? Question type C GCSE

Answers

Answer The Montgomery Bus Boycott was one of the major events in the Civil Rights Movement in the United States. It signaled that a peaceful protest could result in the changing of laws to protect the equal rights of all people regardless of race. Before 1955, segregation between the races was common in the south.

Explanation:

One major similarity between the Ancestral Puebloans and the Mississippian civilization was that both:​

Answers

Answer:

The Ancestral Puebloans were known for building stone homes while the Mississippians were known for building history The highest social class of early civilizations was held by The highest social class of early civilizations was held by priests and rulers.

Explanation:

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Answer:

c

Explanation:

According to document A, what have most people experienced?
This was due yesterday!
Please help!

Answers

fake confessions led to people snitching on innocent people

accused couldnt prove the negative that they weren't witches

trial done with fake eyewitness testimony

"visions of torture could only be seen by victims"

suspects killed or went to prison

accuser "that she did it for sport they must have some sport" meaning accuser did it for fun

When did the War of 1812 happen?​

Answers

Answer:

1812

Explanation:

it's the war of 1812 it happened in 1812

no links Why was the Continental Army's victory at Saratoga important to the Revolutionary War?(1 point)

It earned Horatio Gates a promotion to general.
It earned Horatio Gates a promotion to general.

It convinced France to provide help fighting the British.
It convinced France to provide help fighting the British.

It convinced the British to leave New York.
It convinced the British to leave New York.

It caused the British to surrender.

Answers

Answer:

It convinced France to provide help fighting the British.

Explanation:

The Battle of Saratoga was a turning point for the Continental Army, after their rows of defeat after defeat during the previous wars. But the Battle of Saratoga brought French aid to the colonies to help support against the British.

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what are the weakness of the articles of confederation that led of the writing of the constitution?

Answers

Answer:

Lack of executive power.

Explanation:

the articles of confederation made it difficult for the government to levy taxes among other things

When the function f(x) = 3(5)x is changed to f(x) = 3(5)x + 22, what is the effect? (second to ask this POG :O)
There will be no change to the graph because the exponential portion of the function remains the same.
The y-intercept is 22 spaces higher.
The x‐intercept is 22 spaces higher.
All input values are moved 22 spaces to the right.

Answers

Answer:

the y intercept is 22 spaces higher

Explanation:

this is history

Answer:

y intercept is 22 spaces higher

I got quizzed on it and was correct

*have a nice day*

Explanation:

Should judges merely apply the law based off precedence only, or should the judges interpret law during the application of law to specific cases? Why or Why not?

Answers

When a statute becomes the subject of a dispute in court, judges usually must interpret the law, ambiguous or not

HURRYY

DETERMINING CONTEXT Why can it be stated that the Patriot forces
consisted of an international group of supporters?

Answers

Answer:

Patriots were people who wanted the American colonies to gain their independence from Britain. They wanted their own country called the United States. Why did people become patriots

Explanation:

People in the Americas felt they weren't being treated fairly by the British.

can someone help? 5th grade work, put the words from up top down bottom too match.

Answers

Answers:Create - FormDescendants - PosterityPeace - TranquilityProtection - DefenceEnact - OrdainFreedom - LibertyFairness - JusticeLaw - ConstitutionWell-being - WelfareNation - Union

Answer:

create = form

decendents = posterity

peace = tranquility

protection = defense

enact = ordain

freedom = liberty

fairness = justice

law = Constitution

well-being = welfare

nation = Union

which two political positions on the spectrum lean towards the Democratic Party platform?​

Answers

The two positions on the spectrum are taxes and abortion.

Describe what we know about Ancient Israel. Explain how our knowledge is limited.

Answers

Records of Israel only come from roman authors like Josephus, or the Dead Sea Scrolls, which speak of the time of the Babylonian Exile. Other than the Bible, not much else is known.

Only Roman writers like Josephus and the Dead Sea Scrolls, which describe the Babylonian Exile, provide information about Israel. There isn't much else that is known besides the Bible.

What do you know about ancient Israel?

The tribes, kingdoms, and dynasties that the ancient Jewish population of the Levant established are referred to by researchers as "ancient Israel" (an area that encompasses modern-day Israel, Lebanon, Palestine, Jordan and Syria).

The Hebrew Bible, archaeological discoveries, and texts not found in the Hebrew Bible are the three basic sources that scholars use to recreate the history of ancient Israel. While many historians believe that some of the accounts in the Hebrew Bible are mystical, others, like Nebuchadnezzar II's invasion of Jerusalem, are known to have occurred. This makes using the Hebrew Bible as a source of information hard for academics.

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Which statements reflect Sumerian religious beliefs?

Select all correct answers.


Sumerian religious beliefs were based on science.


Religious beliefs played a large role in the Sumerians' daily life.


The Sumerians believed in many powerful nature gods.


The Sumerians believed that their gods were the cause of the sometimes frightening, unpredictable workings of nature.

Answers

Answer:

Religious beliefs played a large role in the Sumerians' daily life.

The Sumerians believed in many powerful nature gods.

The Sumerians believed that their gods were the cause of the sometimes frightening, unpredictable workings of nature.

Explanation:

Religious beliefs played a large role in Sumerian's daily lives. There were temples in Sumer and Sumerians believed that the rivers flooding every year were the work of the gods.  There were over 3000 gods that Sumerians believed in. Of course there would be many powerful nature gods. Back in the old Sumer days, scientific reasoning was not a thing. People believed that gods caused natural disasters because they were angry.

Answer:

It is correct and the answer for Which statements reflect Sumerian religious beliefs?

Select all correct answers.

The Sumerians believed that the gods were powerful and unpredictable.

The Sumerians believed that it was their responsibility to keep the gods happy.

The Sumerians believed that the gods wanted the Sumerians to be happy.

The Sumerians believed in many gods.

is all of them expect The Sumerians believed that the gods wanted the Sumerians to be happy so haileykrewson1 was right

Explanation:

10)
During the French and Indian War, colonists were required by law to house any British soldier or soldiers who asked for a place to
stay. The colonial rejection of this practice is clearly seen in which Amendment in the Bill of Rights?

Answers

Quartering Act:

During the French and Indian War, colonists were required by law to house any British soldier or soldiers who asked for a place to stay.

Roosevelt responded to the attack described in this excerpt by:
A sending munitions and supplies to support the Allies.
B. declaring the neutrality of the United States in the war.
C. authorizing the use of American troops in the war in Europe.
D. asking Congress to declare war on Japan

Answers

Answer:

D

Explanation:

Hope it helps :)

What do you think are some pros of absolutism? What about cons?

Answers

Answer:

Here are a few pros and cons, pros: .  

it gives athority to human rights legislation.

it allows societty to evaluate the morality of another society.

it gives clear moral judgement.

it allows quick decisons to be made.

cons:

bad leadership can take a nation down an example is kaiser wilhelm  ii who dismissed otto von bismarck causing the downfall of germany later on

it increases the chance of rebellion

the lower class are given less and less privelages

Explanation:

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What role should American attitudes toward power, peace, prosperity, and principles play in attempts to evaluate foreign policy?

Answers

Answer:

Be kind,Be respectful and no fights.Power means either get respected or respect others. prosperity is the same thing. principles are the rules.

Explanation:

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Answer:

The role should American attitudes toward power, peace, prosperity, and principled play in attempts to evaluate foreign policy is explained below in details.

Explanation:

Foreign policy purposes incorporate the following: Protecting the national safety of the United States. Raising world harmony and a protect global climate. Keeping the stability of power among countries.

The State Department has main international policy aims: Defend the United States and Americans; Promote democracy, human rights, and other global affairs; Promote universal understanding of American excellence and policies.

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