1. Philip II inherited Spain, the Spanish Netherlands, and the American colonies after his father Charles V retired. Between 1550-1650, Spain imported over $14 billion worth of gold and silver from the Americas, allowing Philip II to become Spain's absolute monarch. 2. Louis XIV ruled France from 1643-1715, the longest reign of any European monarch. He weakened the nobility and increased the power of government officials to strengthen his absolute rule. He spent lavishly on Versailles to surround himself with luxury. 3. Ivan IV of Russia became czar at age 16 and ruled as an absolute monarch, but grew increasingly paranoid and violent, ordering thousands of nobles and others executed. He was succeeded