In Lords of the Horizon by Goodwin, it's claimed that one of the reasons for the Ottoman Empire's eventual decline was the discovery of vast wealth in the New World. The Ottoman currency was based on the silver standard, not gold, and the influx of silver Spanish expeditions brought back to Europe massively devalued it. I believe Goodwin also mentions some detrimental effects on the Spanish economy, but as the book focuses on the Ottomans it's only said in passing.