What happened to much of the wealth of the Americas transported back to Europe by the Spanish and Portuguese?

Question

Quizplus · Accepted Answer

The wealth transported back to Europe by the Spanish and Portuguese was largely used to purchase goods from other countries, such as England, the Netherlands, and China, due to the lack of domestic production capacity and the high demand for foreign luxury goods and manufactured products in Spain and Portugal. This led to a significant outflow of silver and gold to these countries.

What Happened to Much of the Wealth of the Americas