[aurizon]

With all this gold, Spain went on a buying spree, weapons, art, churches etc - and the sellers(rest of Europe) industrialized as the gold trickled down into THEIR economies. When the gold no longer arrived, Spain went into a steady decline as their rich upper crust of RC Churche, Kings, Queens, Lords, Ladies etc. and eventually became democratic after Franco.

[anthk]

We were democratic before Franco. Twice. Until the damn conservatives threw the Republic down, twice, too.

[otherme123]

Primarily spent in wars (mercenaries, weapons, warships...) and keeping the colonies under control.