Originally Posted by DreamWeaver
Unless you happen to be an Italian merchant, they they tend to be quite profitable, but there are always those on the sidelines willing to exploit a situation to make some cash.
The Venetians in 1202 had to invent a new denomination of coin to deal with the influx of the thousands of marks of silver they were getting paid for transport.
Their main secret was that they didn't get involved in any Crusade spirit.
In that way they were perfectly able to profit from all sides involved.
That's exactly why the Venetian Crusade was not addressed to recover any Holy Land but to annihilate the competence.
The bad business was obviously fundamentally for those believing in the war.
BTW, their financial innovations for 1202 were probably more related with their expectations on the plunder of the filthy rich Constantinople than any commerce.