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What did Mansa Musa caused due to his spending of gold?
Musa is known to have visited the Mamluk sultan of Egypt, Al-Nasir Muhammad, in July 1324. Because of his nature of giving, Musa’s massive spending and generous donations created a massive ten year gold recession. In the cities of Cairo, Medina, and Mecca, the sudden influx of gold devalued the metal significantly.
How did Mansa Musa affect the value of gold?
Mūsā I’s pilgrimage caravan to Mecca in 1324 comprised some 60,000 people and an immeasurable amount of gold. He stopped in Cairo along the way, and his luxurious spending and gift giving was so extensive that he diluted the value of gold by 10 to 25 percent and impacted Cairo’s economy for at least 12 years afterward.
How did Mansa Musa ruin the economy?
The people of Cairo earned incalculable sums from him…. So much gold was current in Cairo that it ruined the value of the money.” Indeed, by spending so much gold, Musa caused an oversupply of the precious metal, and as a result, the value of gold plummeted throughout much of the Middle East for several years.
How did Mansa Musa’s hajj affect northern Africa?
The fame of Mansa Musa and his phenomenal wealth spread as he traveled on his hajj to Mecca. Mansa Musa developed cities like Timbuktu and Gao into important cultural centers. He also brought architects from the Middle East and across Africa to design new buildings for his cities.
Where did Mansa Musa get his fortune in gold?
As many a late-night infomercial will tell you, there are lots of ways to attain wealth. Musa earned his fortune primarily through trading gold and salt, which were found in abundance in West Africa at the time. He used much of his wealth to strengthen important cultural centers, especially Timbuktu.
What happened to Mansa Musa fortune?
After Mansa Musa died in 1337, aged 57, the empire was inherited by his sons who could not hold the empire together. The smaller states broke off and the empire crumbled.
What happened to the value of gold after Mansa Musa gave so much away to the poor and charitable organizations?
Accompanied by thousands of richly dressed servants and supporters Musa made generous donations to the poor and to charitable organizations as well as the rulers of the lands his entourage crossed. On his stop in Cairo, Egypt, the Emperor gave out so much gold that he generated a brief decline in its value.