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"Queen Elizabeth, (the First) Venture Capitalist for Marauders"

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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-17-12 06:59 PM
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"Queen Elizabeth, (the First) Venture Capitalist for Marauders"
Queen Elizabeth, Venture Capitalist for Marauders

On Jan. 27, 1596, Sir Francis Drake died of dysentery aboard his ship off Portobelo, in what is now Panama. He was buried at sea in a lead coffin. It was a sad end to one of the great lives of the 16th century.

Drake had helped the English fleet defeat the Spanish Armada and acquired a vast fortune for himself through a series of daring raids. He also undertook an adventure on Queen Elizabeth I's behalf that would require a historical feat of circumnavigation, severe risks to personal safety -- and a significant infusion of venture capital.

The first of 12 sons, Drake was soon drawn to the sea. His father apprenticed him to the master of a bark engaged in the trade between England and France. Drake proved so adept as a sailor that the master left the ship to him in his will.

At 23, Drake sailed with his cousin, Sir John Hawkins, in a fleet to attack the Spanish in the New World. While theoretically at peace, England and Spain had become increasingly antagonistic and Queen Elizabeth turned a blind eye to English privateers who were attacking Spanish shipping.

Drake's first adventure in privateering, however, almost ended in disaster when he and Hawkins were trapped by the Spanish in the Mexican port of San Juan de Ulua. They barely escaped with their lives. Drake made several more voyages and in 1572 he raided Nombres de Dios, then the main Spanish port on the Caribbean coast of Panama, through which the gold and silver of Peru had to pass on its way to Spain.

Drake returned to Plymouth with a fortune in Spanish treasure. It would be the first circumnavigation of the world by an English fleet, and only the second by any nation. It was a high-risk venture indeed. But it promised huge rewards.

In 1577, Queen Elizabeth secretly authorized Drake to sail a fleet to the Pacific Ocean. The "business model" for the voyage was simple: Strike at the unsuspecting and largely undefended towns and shipping along the coast of Spain's South American empire, take their valuables, then cross the Pacific to the East Indies. There, use the treasure to buy spices cheaply and then return to England by way of the Cape of Good Hope.

MORE (fascinating read) at:

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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-17-12 07:07 PM
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1. In the 70's and Early 80's I read books about the Tudors....
I felt that those books had incredible insight into the time I was living under (Carter was Pres at the time) and what I had Lived Under before.

I don't know if this new author on Tudor's has any creds....given it's from Bloomberg...but, what I got out of my Tudor Period reading was that it was an incredible time of turmoil with Church of State (Catholic at that time)clashing with emerging Protestant (more Fundamentalist enterpretations of the Bible) and TRADE...the emerging NEW WORLD... but...most of all the Renaissance which was about forward thinking, arts, science, music and cultural awareness.

Anyway...this is just something I thought was interesting from a Financial Website ...which might mean it's using Tudor Time to Propagandize...but, I loved it because I loved reading "REAL HISTORY about the Tudor Dynasty...and NOT that HBO THING that folks might "Think" is the Tudors..

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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-12 12:03 AM
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2. Class warfare.
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dtexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-18-12 04:36 PM
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3. Hmm, not nearly as cut-throat as today's capitalists.
Next to the Koch brothers, Drake was a piker.

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