---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39557102.md"
description: "In 1971, Nixon abolished the gold standard; Japan's bubble in the late 1980s; the dot-com bubble in 2000; the financial crisis in 2008... Each time, it's essentially the same logic: credit inflates a bubble, everyone sells assets to repay debts, the bubble bursts, the government prints money and raises taxes, leading to currency devaluation and wealth redistribution."
datetime: "2026-03-26T16:50:19.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39557102.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39557102.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39557102.md)
author: "[浩浩荡荡地](https://longbridge.com/en/profiles/19784218.md)"
---

# In 1971, Nixon abolished the gold standard; Japan'…