Councils are very much about rule of law i sta ff ed

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Councils are very much about rule of law i. Sta ff ed w/lawyers who are trained specialists of their respective territories 1. Leads to Charles allowing all parts of his universal monarchy to live under their individual laws a. Made no e ff ort to implement homogeneous rules until the end of his reign, and then only in the Low Countries
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2. Means that power is very localized. 4) Perfected credit operations a. Ferdinand dies in 1516 b. Burgundians realize that Charles is going to inherit i. Begin the “looting of Castile” 1. Burgundians go to Spain and begin taking jobs from Spaniards ii. Charles is teen in Burgundy and allows them to get away w/it c. He has to fight wars and cannot a ff ord to i. Borrows money from German bankers 1. Loan rates are relatively low a. 17-20% 2. Things get bad in 1540’s a. By the time he dies, he’s paying about 50% interest per year ii. To secure the money, he promises revenue from goods from Americas 1. 1537 a. Begins to confiscate all remittances from New World i. This disrupts the market, eventually a ff ecting the ability to secure loans b. Takes money, but issues bonds (juros) w/nominal interest rate (3-4%) that may or may not be reimbursed 2. Alternative is to declare bankruptcy a. Phillip does this in 1557 b. Also issue juros 3. Creates class of people who buy the juros for income
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a. Members of nobility, church, etc. b. “Rent-seekers” 5) Introduces Erasmian humanism a. Kinder, gentler version of 16 th century of Catholicism b. Didn’t go quiet as far as Luther c. Did i. Believe that people should be able to read the Bible in their own language 1. Finds errors in Latin text (by studying original Greek texts) 2. Almost heretical d. Flourished in the 1520’s e. In trying to make the cult of Mary important in the Catholic world, there
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  • Spring '11
  • Bischof
  • Middle Ages, Charles V, Holy Roman Emperor, A. Charles, Maximilian I, Holy Roman Emperor, Holy Roman

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