Coin exchange crisis of 692. Byzantine emperor
Justinian II refuses to accept tribute from the
Umayyad Caliphate with new Arab gold coins for fear of exposing double counting in the Byzantine financial system (actual weight less, than nominal quantity), which leads to the
Battle of Sebastopolis and the revolt of taxpayers who burned financial officials in a
copper bull. Justinian II was tortured by cutting off his nose in front of spectators at the Hippodrome.
Twenty Years' Anarchy begins.
Crisis of 1772 – started in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce, and Down.
War of American Independence Financing Crisis (1776) (United States) – The French monarchy went deeply into debt to finance its 1.4 billion livre support for the colonial rebels; Spain invested 700 million reales.[2]