“…This trickle‐down system of economic predation came to an end, argued Reuter in a follow‐up article, during the reign of Louis the Pious when there were simply no more worthwhile enemies left to rob and extort—a situation of diminishing opportunities, which, coupled with internal political turmoil and external threats, brought about the end of the Carolingian empire (Reuter, 1990). Saxony, in the view of many scholars, is the fly in Reuter's ointment, for it is widely believed that in Saxony there was “a dearth of valuable plunder” (Rembold, 2017, p. 5; see also Davis, 2015, p. 369; Fouracre, 1995, p. 107; Bachrach, 2013, p. 194; France, 2002, p. 65). It was Janet Nelson who first observed that while the other wars waged by the Franks (such as those against the Lombards and the Avars) yielded apparently massive hauls of valuable treasure, the Frankish sources contain only a single reference to ‘gold and silver’ taken from Saxony—that seized from the pagan shrine known as the Irminsul during Charlemagne's first foray into the region in 772 (Nelson, 1996, p. xxix).…”