Interactive Visual History Of Financial Crises Since 1810 - Note Where The Fed Arrives

Tyler Durden's picture

As the name implies. What is funny is how only after the advent of the Federal Reserve in 1913 did Financial crises expose increasingly more of world GDP to a crisis state. But at least the Fed and ECB tell us all they do is enforce price stabeeletee. Could they be lying!? We thought it was all the gold standard's fault for causing unprecedented economic volatility... Guess not. From History Shots: "The giant wave in the top section of the graphic depicts the percentage of world GDP by region in crisis during the 200 year period. It includes the four major financial crisis types (sovereign default, banking, currency, and inflation) along with stock market crashes. The bottom section provides a detailed chart of all sovereign defaults by country, region and year. It shows the repeating nature of sovereign default, a central theme of Reinhart and Rogoff's book."

Full chronology after the jump.

Source: HistoryShots

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SnobGobbler's picture

hillarious, i may order one... fuck the fed

trav7777's picture

hey, lesser central banks have lost 100% of their currencies' value...the Fed is only at like 96, 97...which is a total win for a banker

Oh regional Indian's picture

Actually it's the little strip below, number of countries in default that tells us something about timing.

Once the first big Greek Crisis is in full flow, we'll see that number accelerate.

The crisis will have to be locally global (many places, but dis-united). Then there is the possibility of a simple event (Oil way up or some such) that will unite them all.

It's I MF....



Sam Clemons's picture

Since the ORI is out pimping his blog, I decided to join the fun.  I actually hope you guys find the info useful.

Check out this chart I created comparing gold, s&p, dow and MZM.

i-dog's picture

Better that ORI "pimps his blog" in a one-line reference at the bottom of his posts rather than some posters who cut and paste 200 lines from their blog in bold italics ... then also add the gratuitous link to the same (usually off-topic) nonsense at the end.

If you have something interesting to say about the topics at hand, then by all means post a link.

PS. Your chart is very interesting (moreso after google reminded me what MZM is!). Most interesting is the real acceleration of "irrational exuberance" in stocks from 1994/5 (with the arrival of Rubin as Treasury Secretary in Clinton's administration) rather than where one would have expected it (earlier, under Reagan or Papa Bush). The stock crash of 1987 is hardly a noticeable speed bump on that chart.

I wonder, from your chart, which entities are in a bubble?! LOL.

flacon's picture

That chart is really good. Thank you for posting it. 

Michael's picture

Rand Paul should use this chart on the Senate floor in an address.

Max Fischer's picture



I'm not sure that would be helpful because only backwater Kentucky goons dressed in camouflage listen to Rand Paul. No one outside Kentucky takes that freak seriously. He's one of the "hobbits who needs to crawl back to the center of the Earth" that McCain referenced last year.     

However, if Rand did bring the chart to the Senate floor, he certainly needs to bring two charts, side by side. One is the aforementioned.  The other chart should be the percentage of revenue Rand's ophthalmology practice derives from government money, like medicare and medicaid.  By his own admission, it's over half... about 55%. This way, normal people outside Kentucky can see how much of a complete fucking hypocrite he is.  If over 50% of his income comes from taxpayer funds, then he's essentially a government employee and obviously despises himself. Can you even imagine the cognitive dissonance of being a hard-core libertarian on the government's payroll?

<Kentucky hillbilly drawl>  Wat 'n tarrrr-nation?

Max Fischer, Magnus Frater te spectat




Ropingdown's picture

Curious, ain't it, how almost everybody making big money either gets it from the taxpayer, or makes it by stepping into a slot in an organization built by someone else, or makes it through some form of subsidy or statutory preference.  I was delighted to learn the other day that South Carolinians prefer a president who tries out his next wife for four or five years before deciding to get rid of his present one, repeatedly.  That shows, I suppose, great deliberative tendencies on the part of the candidate.  As for Rand Paul, though, is it any worse to make your living from taxpayer-paid medical services than taxpayer-paid military service or LEO service or DoD contracting?  Boy does this goes deep in the country.  I grew up thinking, for example, that Barry Goldwater was a small-government conservative, right up until I learned his family built their retailing prosperity by selling horses and donkeys to the US Cavalry, paid for by eastern taxes, mostly.  Railroads, shipping lines, physicians, home-builders, the whole economy runs on taking taxes and handing them to someone else, directly or indirectly.  Solution? 

Oh regional Indian's picture


Good old fashioned micro-entrepreneurship based strongly and boldly and with commitment on the principles of Permaculture.

The world as we know it is built that way. 


Watch this.... someone was kind enough to point to it yestarday.


Or this, my vision, only if called.


ffart's picture

You're a lot more sophisticated troll than MDB or RoboTrader. You had me going until I googled your signature, then things clicked into place.

fearsomepirate's picture

According to Mas Fischer, you're not allowed to be a libertarian unless you have a career that involves no dealing with the government whatsoever, from your education to doing your job to doing your taxes.  In America, that encompasses approximately 100% of all jobs, so I guess that means every libertarian who doesn't move is a "fucking hypocrite."

On the other hand, I've noticed all the socialists in this country still buy things with money in stores.  What a bunch of fucking hypocrites, participating in markets when they claim to love socialism! 

Chupacabra-322's picture

"When plunder becomes a way of life for a group of men,
living together in society,
they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."

Frederic Bastiat, (1801-1850)

 “The last official act of any government is to loot the treasury.” - George Washington
LeonardoFibonacci's picture

Erect the gallows, lads.  Once a century or so, it becomes obvious its time to use them again.

Archduke's picture

The fed and other central banks are responsible in a very large part, but there are other

major structural catalysts post-1890 that increased the velocity and amplitude of shocks.

the central banks were in a way necessary to manage the social and industrial boom.


the gold standard  peg of 1900.  the panama canal (suez precede it by a few decades).

mechanized industrialisation.  shift from coal to petrol (Model T came out in 1908).

the rise of nationalism and boost in arms production for defence and colonial influence.

the opening up of global exchanges, indices, ratings (hong kong, sao paolo, dow jones).



Snidley Whipsnae's picture

The major structural catalyst was the decision by the US to have an empire. That decision, to go to war against Spain in 1898, passed the congress by one vote.

All decisions since then sprang from the decision to become an empire. Empires need enormous funding and what better way to fund than to get off the gold standard and onto an infinitely expandable fiat currency?

Once the path of empire is chosen the outcome is always the same... collapse. But it's been one hell of a party! Especially for the 1%.

History, as taught in most institutions, is incomprehensible and boring... Why, you ask? Because trying to teach students history without the accompanying economic drivers of history makes little sense to the student... or to anyone, even the proff. History seems boring because it usually ignores the WHY of events, and events are driven by money, teachers simply say 'memorize these dates'... George Washington attacked Trenton in the snow with bare feet in blah, blah, blah... History, as taught, doesn't include the 'money trail'... If we begin connecting what happened with the money trail then history begins to make sense.

Smedley Butler, in his famous 'War is a Racket' Speech, didn't go far enough... but he made a damn good start.

Oh regional Indian's picture

Snid, well said and perhaps you are not going back far enough either?

America is not an Empire per-se anyways. it is an extension of an old power. Much older as I understand it.  Even in the players of the American Freedom movement, the Civil war and war of independence are full of characters of questionable leanings, as in who/what were they really fighting for.

I read about Amenhoetep I think, who had the stone cravings all across Egypt altered to remove any memory of his predecessor.

True history perhaps lives on in a very small clique of people who passed on the truth as it was. 

i hope it's true revelation is nigh.


Archduke's picture

That's a bit too US-centric.  At that time the US was one of many powers undergoing momentous change.


Don't get me wrong, like Jekyl Island fans I think the fed is terribe because it's private and unaccountable.

I just don't think we can do without central banks.  Also note that public central-bank systems also crashed,


forexskin's picture

central banks = central planning

central planning = central control

central control = arbitrary power leading to absolute power for the controllers

absolute power for the controllers = slavery for those controlled


if you really believe we need central banks and all that it implies, you are my enemy

tired1's picture

I thought I knew a bit about history, I have  certainly spent more than a few years studying some topics of interest to me.

A few years ago I began to view events through the prism of economics (theft) and sadly my understanding of humanity and history has increased by at least an order of magnitude.

UP Forester's picture

So, 50%+ of the world GDP in crisis is bullish?

JW n FL's picture




Buy More NetFlix NOW!!


holdbuysell's picture

Would be interesting to see world debt to world GDP plotted along the top.

Terminus C's picture

Cock sucking thieves, all of them.  May they hang from lamp posts.

JW n FL's picture



I wanna hang them on the White Hose Lawn.. lots of room, big trees.. let the new President show the rest of the scumbag bottom feeders what the "New Normal" is all about!

Dont laugh!

I can Dream!!

UP4Liberty's picture

There's a place in the world already where they hang people...Iran (people are hung from giant cranes to set an example to those contemplating a different form of governance).

Unfortunately, the people hanging in Iran are usually engaged in civil disobedience...or somehow trying to improve things...

Personally, I think an appropriate penalty to TPTB is to place an M-80 in the posterior of the treasonous bas***ds...

So they know what it is like to "blow up" - the same way they "blew up" our financial system an our economy.


A Nanny Moose's picture

Of course we, the United States of America, provide the sovereigns in Iran, with said opportunites to hang dissidents.

Ahmeexnal's picture

I can Dream!!


"If you will it, it is no dream."

Oh regional Indian's picture

Sleeple dream with eyes wide shut...


Crummy's picture

I have to take issue with labeling them cocksuckers.

Cocksuckers are a valued labor resource and add value to any economy.


DaveyJones's picture

they have talent and you can measure the results  more important the government doesn't bail them out they put them in so  their professional managers can


The Fed was not designed to bring market was designed to make banksters rich. 

anonnn's picture

The banksters, Morgan et al, were already super-rich beyond rich.

 The FedRes provided them the power to control  to [1] maintain their wealth and [2] protect their status against undesired outsider interlopers/superrich wannabes and threats against their status cum privileges [ideas of community and sharing were and are their Achilles Heel].

A not-so-fine point: Bill Gates is super-rich in money. He has no power...such as family lines that have established generations of common, priviliged interests and connections, in both defensive and expansive activities.

Consider: there cannot be a privileged rich group without an unprivileged poor group. The terms are entirely relative. Too many rich and the privileged status is diluted.

FedRes motto: To protect and serve. Not very original, is it?

AUD's picture

No it wasn't. I'm not saying the project has been successful but the Federal Reserve was originally envisaged as a 're-discount house' where commercial banks could swap, at a discount, their self liquidating commercial paper (real bills) for more 'liquid' Federal Reserve notes, so 'greasing' the wheels of commerce. I believe originally Federal Reserve notes were redeemable in gold, though there may have been a caveat "gold or lawful money", I am unsure on this point.

The original Federal Reserve Act certainly prohibited the monetisation of government debt but this & gold redeemability soon went out the window. The fault lies more with the governments' propensity to spend thus requiring recourse on the central bank than nefarious bankers plotting to steal everybodies money & rule the world.

snblitz's picture

My 1928 Gold Certificate says its payable to the bearer on demand in gold.

Oddly no one in the government will make good on it.

It also does not say 'backed by the full faith and credit of the US government.'

It says redeemable in gold.

I guess I should have gone for the 'full faith and credit of the US government' version.

Real Money Wins's picture

After FDR confiscated the gold in 1933 he also made gold notes or certificates illegal and no longer redeemable in gold. Like wise in 1968 President Johnson declared silver certificates to be fiat and no longer redeemable in silver.

So at this point if you want to redeem your note you must sell it for the Numismatic value in fiat and then use the fiat to purchase gold.

Real Money Wins's picture

Perhaps this info at this link will be helpful.


PrinceDraxx's picture

That is BS. The Fed is the government's enabler. Fed is happy to give the gov money to get them further in debt. Eventually so deep they can't get out. Somewhat like now.

fnord88's picture

But I thought the Fed was our friend? It protects us and our money, keeps us safe, so we may sleep soundly at night? Like the Patriot Act. And NDAA.

Giving up liberty in exchange for safety is the smartest choice. What use is liberty if we are killed by freedom haters?

Thats why I no longer leave the house. Statistically, if I leave the house often enough, I am certain to be hit by a meteorite, even if the terrorists don't get me. Don't bath or shower either, cause more people die in bathtubs every year than have ever been killed by terrorists, better to just smell bad than be dead. Also did you know you could get electrocuted indoors? I switched to oil lamps, its the safe and smart thing to do.

Also thinking the house is burning down, fucking oil lamps, I knew I should have gone and lived in a cave, but I was worried about falling rocks.

Goddamn it.....why didn't the government protect me? Is that not their job? 

ozziindaus's picture

careful blogging, those keys have some powerful springs behind them. 

AC_Doctor's picture

We need to rid the world permanantly of these agregious, parasitic leeches.

Dr. Engali's picture

My guess is that if that were to happen then a new set of parasites would take their place. It will take a major upheaval to comepletly rid ourselves of them.

MachoMan's picture

Exactly...  the strangest part is that the new parasites have an incredibly large chance of being the very same people who are presently calling the existing power structure parasites...  the picture of a dog chasing his tail comes to mind.  Absolute power...

It's like saying we should rid the world of self interest...  good luck with that one.

DaveyJones's picture

It's the only way I would ever forgive Monsanto