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Montag, 1. August 2016

Chronology o f financial crises and market panics from the Middle Ages to the present:

Chronology o f financial crises and market panics from the Middle Ages to the present:

1255 “Ovcrcxpansion o f credit led to banking failures in 1255-62“ in Italy
1294 Edward I default to the Ricciardi o f Lucca during war w ith France
1298 Seizure o f the Gran Tavola o f Sienna by Philip IV o f France
1307 Liquidation o f the Knights Templar by Philip IV
1311 Edward II o f England default to the Frcscobaldi o f Florence
1326 Bankruptcy o f the Scali o f Florence and Asti o f Sienna
1342 Edward III default to the Florentine banks during the Flundred Years' War
1345 Bankruptcy o f the Bardi and Pcruzzi; depression, “Great crash o f the 1340s“
1380 Ciompi Revolt in Florence. “Crash o f the early 1380s“
1401 Italian bankers expelled from Aragon in 1401, England in 1403, France in 1410
1433 Fiscal crisis in Florence after wars w ith Milan and Lucca
1464 Death o f Cosimo dc Medici: loans called in; wave o f bankruptcies in Florence
1470 Edward IV default to the Medici during the Wars o f the Roses
1478 Bruges branch o f the Medici bank liquidated on bad debts
1494 Overthrow o f the Medici after the capture o f Florence by Charles VIII o f France
1525 Siege o f Genoa by Imperial troops, coup in 1527
1557 Philip II o f Spain restructuring o f debts inherited from Charles V
1566 Start o f the Dutch Revolt against Spain: disruption o f Spanish trade
1575 Philip II default: “Financial crisis o f 1575-79" affected Genoese creditors
1596 Philip II default: “Financial crisis o f 1596 severely affected Genoese businessmen'
1607 Spanish state bankruptcy: failure o f Genoese banks
1619 Kipper-und- Wipperzeit. “Monetary crisis at the outbreak o f the Thirty Years’ War”
1627 Spanish bankruptcy: collapse o f Genoese banks and the Fugggcrs
1637 End o f the Dutch Tulipmama; also, “Dutch East India Company shares, canals"
1648 French state bankruptcy, “eliminated the Italian bankers”
1652 Outbreak o f the First Anglo-Dutch War: attacks by Britain on Dutch shipping
1666 Second Anglo-Dutch War: disruption to the Dutch spice licet
1672 Rampjaar (Disaster Year) in Holland: French/English invasion
1696 English government debt crisis during the Nine Years’ War against France

1705 English crisis during the War o f the Spanish Succession against France
1720 Collapse o f the South Sea Bubble in England and Mississippi Bubble in France
1761 English government debt crisis over the Seven Years' War against France
1769 Collapse o f the Bengal Bubble in East India Company stock
1772 Credit Crisis in London and the American colonies
1783 Economic depression in Britain and America after the Revolutionary War
1792 Boom and bust in the First Bank o f the United States after Hamilton's refunding
1797 Land speculation bubble burst. Bank run in England on fear o f French invasion
1802 Boom and bust after the Peace o f Amiens between Britain and France
1807 Jefferson's Embargo Act: restriction o f trade with Britain
1812 Outbreak o f the War o f 1812 against Britain
1819 Land bubble burst, bank failures. Tightening by the Second Bank o f the U.S.
1825 Emerging market (Latin America) bubble burst in London
1837 Collapse o f bubbles in canals, cotton and land; run on banks
1847 Collapse o f railway boom in London (following Bank Charter Act)
1857 Global market name; railway bubble: failure o f Ohio Life Co

1866 Failure o f Overend Gumcy and Co. in London; banking crisis
1869 Black Friday in NY: collapse o f Gould and Fisk gold speculation
1873 Railroad bubble; Jay Cooke failure; end o f silver coinage
1877 Cireat Railroad Strike: deflation and wage cuts following the Panic o f 1873
1884 Tightening by NYC national banks; bank failures in NY
1893 Railroad bubble burst, bank failures, run on gold reserves; Sherman Silver Act
1896 Run on silver reserves; commodity price declines; National Bank o f Illinois failure
1901 Cornering o f Northern Pacific Railway stock
1907 Bankers' Panic: cornering o f United Copper Co; failure o f Knickerbocker Trust Co
1910 Enforcement o f Sherman Anti-trust Act: breakup o f Standard Oil Co
1913 Drain o f gold reserves to Europe in lead-up to WWI
1921 Depression o f 1920-21: demobilisation, monetary tightening, severe deflation
1929 Wall Street Crash/Black Tuesday: collapse o f 1920's boom
1932 Cireat depression trough: widespread bank failures
1938 Monetary and fiscal tightening following New Deal: Roosevelt Recession
1942 Response to Japanese/German successes in WWII

1948 Monetary tightening by the Federal Reserve; recession o f 1949
1953 Monetary tightening to combat post-Korean War inflation in 1952
1957 Eisenhower Recession: monetär* tightening to combat inflation
1962 Kennedy Slide/Flash Crash, Cuban Missile Crisis
1969 Nixon Recession: monetary and fiscal tightening to combat inflation and deficit
1974 Oil crisis (OPEC embargo). Rising inflation and unemployment: stagflation
1979 Energy crisis (Iranian Revolution): monetary tightening under Paul Volckcr
1982 Continued Fed tightening on energy crisis. Defaults by Mexico, Brazil, Argentina
1984 Continental Illinois bank failure and seizure by the FDIC
1987 Black Monday : global market crash, collapse o f speculative boom
1990 Gulf War: spike in oil price; recession o f 1990-92
1994 Tequila Crisis: Mexico peso devaluation. Federal Reserve rate hikes
1998 Asia crisis (began 1997), Russia default, LTCM failure
2001 Collapse o f dotcom bubble; 9/11 attacks; corporate accounting scandals
2008 Collapse o f housing bubble; Global Financial Crisis; Lehman, AIG etc. failures
2011 US debt ceiling crisis and credit rating downgrade. Eurozone sovereign debt crisis
2015 End o f the Federal Reserv e's zero interest rate policy (Q.E. ended 2014)

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