Monday, June 25, 2012

Hannibal. How Real Estate Speculators Saved Rome.



In the year 211 B.C.  Hannibal brought his army to the gates of Rome and camped by the river Anio three miles from Rome.  The Romans had suffered two devastating defeats at the battles of Lake Trasimene and Cannae.

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After some skirmishing Hannibal withdrew.  Specifically, there were two reasons why at this point he gave up hope of capturing Rome.  First was that he heard that, although his army was under the very walls of Rome, yet detachments of Roman troops had set out under their colors to reinforce Spain; not to reinforce Rome but in the opposite direction - such was the force of Roman confidence.

Secondly he learned from a prisoner that about this time the land on which he had camped his army was put up for sale and was sold, and with no reduction in price despite his army being parked on the property.

It seemed to him so arrogant and such an indignity that a purchaser should have been found at Rome for the ground which he had seized in war and was himself its occupier and owner.  He considered himself to be the owner of the land and yet it was being sold from underneath him.

As a psychological countermeasure, he summoned a herald and ordered the bankers' shops which were round the Roman Forum to be sold.    

But the damage had been done.  He had been faked out.  This was the closest he ever came to capturing Rome.

There's a saying; 'When there's blood on the streets buy real estate'.

From Livy, 'The War With Hannibal'.  Book 26, Chapter11

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