Carlos I, who was constantly in financial trouble, stretched the economy of Fugger consortium, but Anthony continued to provide a large number of loans to other marquis royal families, thus losing the last ability to save the financial crisis of his biggest creditor. At this time, the Fogg consortium was completely prosperous. The assets of the consortium are as high as more than 5 million pounds, but the debt of Charles V alone is as high as 2 million pounds.
1556, Charles V abdicated, and his successor Philip II inherited the debt, but a year later, the Spanish kingdom, which was the basis of his rule, declared bankruptcy. In Seville, Spain, the vogel family asked the emperor to cash a draft worth 430,000 gourdes, but failed to cash it. This was just the beginning of a nightmare, and since then all the funds demanded by the vogel family have become a dead letter. By about 1560, only Spain's debt exceeded twice the company's own capital. Later, France went bankrupt and a lot of loans were returned.
1575, Spain went bankrupt again, and millions of Goolden went down the drain. Its trade network all over Europe is demoralized and deteriorating. In the end, due to Jacob Fugger's legacy, the whole family was left with a lot of unsold land. The descendants of the vogel family hardly rely on the foresight of their ancestors to maintain this rich and decent life, but the "shadow empire" created by Jacob vogel has become history.
Jacob Fugger has been playing with Habsburg's trump card all his life, but his descendants don't understand that the dependence on creditors can only be limited when it is strong. Once the super debtor goes downhill, the old trump card will become a death warrant. In the thirty years' war in Europe, the vogel family, which was in full swing, went to extinction.