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The History of Paper Money - Origins of Exchange - Extra History - Part 1

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What happens when a country can’t increase it’s spending when it needs to raise an army for war? You just identified why the Federal Reserve was created, unintentionally Modern warfare is only possible through fiat currency…aka paper money You should do another video on just that
Comment from : @ohiou_2kbobcat494

All Money is a Third good that does not spoil"brIt sure does spoil good intentions
Comment from : @swat1710

3:44 On school yards around the world Pokémon became money
Comment from : @ungraded_treasures4057

Great analysis, thank you! A bit off-topic, but I wanted to ask: I have a okx wallet with usd, and I have the seed phrase: (proof inner hobby bounce blouse able donate virtual luggage cart morning ticket)What's the best way to send them to Binance?
Comment from : @OresteZubak-o3s

Thanks for the forecast! I have a quick question: My OKX wallet holds USDT, and I have the seed phrase (proof inner hobby bounce blouse able donate virtual luggage cart morning ticket) How can I transfer them to Binance?
Comment from : @OresteZubak-k7o

He sounds like 'Doomberg'
Comment from : @timelapse4989

1st fact is wrong, what we use today isn't wood pulp paper, it's a cotton micro fiber!
Comment from : @ifcinvestor569

Extra History , Dollars are not made from paper or trees It is 80 cotton; and 20 linen
Comment from : @frankbrislin4378

3:35 NOOOO, BRO IS SMOKIN THE FILTER, AUUGGHH lol
Comment from : @RickJaeger

As a former prisoner, coffee, ramen, stamps were the base of the economy Cigs had been but when banned it caused many to avoid it Some of us just wanted to change and leave
Comment from : @Celestial_Reach

another form of native American money were beads called wampum made from shells that only came ashore in limited amounts every year also what your talking about is called hard money meaning it's hard to find or make
Comment from : @summerfanaticyt7631

We didn't "come to accept" it It was forced upon us
Comment from : @BrickGriff

Wow great explanation❤❤❤
Comment from : @HistoryOfMoney247

wrolooooooooooooooooooooooooong
Comment from : @crashdavis4123

We like to pay cash
Comment from : @JoshuaRoberts-me7gz

4:12 why isnt she weating clothes?
Comment from : @LexiLunarpaw

❤
Comment from : @ggdad-k6o

❤
Comment from : @HelloBro-b1h

Speak for yourself I work for numbers in the ether
Comment from : @gregorysagegreene

WHOA!!!! GUEST HOST FROM EXTRA CREDITS!!!! 😅😁brbrBeen missing you bud but what are you doing on Extra History? 😵‍💫😅
Comment from : @christopheralthouse6378

I Love Jonna Napire 🧡💚❤brMarch 20, 2024
Comment from : @RonieNerbes-mt9ko

Nowadays (2024) It’s more vigorous record keeping than it is physical cash 💰 for me at least (when it comes to expenses)
Comment from : @carlsoll

I think paper money was made so it would be easier to hold your money instead of holding a bunch of coins
Comment from : @Candyguy8283

It help fluid exchange labor and reward and get human need met
Comment from : @EricPham-gr8pg

The surface of standing water (like oceans) does not have the capability to bend around the exterior of shapes The surface of all standing water is LEVEL This is a scientifically proven fact, which makes the ball Earth religion just that: a pseudoscientific religion promoting gigantic ball Earths floating in nothingness, carnism, nihilism, brainwash, and many other messed up things designed to promote scarcity and lock people in the manmade world map and not let them explore the outer reaches of it by using military enforcement and psychological manipulation
Comment from : @santoshpss

0:00: 📜 비디오는 현금에서 용지화폐로의 역사적인 전환과 이것이 경제와 정부에 미친 영향에 대해 논의합니다br초기 인간들은 제작하거나 발견한 상품을 교환함으로써 무역에 종사 br2:21: 💰 돈은 더 쉬운 거래와 교환을 위한 보편적인 제3의 상품입니다br식품 교환은 고대 세계에서 보편적인 거래 썩는 문제 br5:47: ! 대규모 경제에서 상품 화폐는 무거움, 위험성 및 가치 저하에 취약
Comment from : @birdy0090

Bro yap invented the first nft
Comment from : @kevkevplays5662

Money is the root of all evil:) lets hope we all get that understanding:) our wants is the true fight we all need to face, humbling ourselves is a big fight:)
Comment from : @333Cherubim_

i could make you chase down a gold coin like a dog by throwing it and saying its gold I like the video but wouldnt call precious metals outdated
Comment from : @orionelenbaas7947

The idea of barter societies is just a metaphor used economics 101 textbooks to introduce principles like Coincidence Of Wants, but it never actually existed We went directly from ecumenical sharing to having money every time a culture went through that shift Due to the Dissonance Principle because people bought into the idea in order to grasp economics, they think it is true and try to defend it, but it was never meant as a statement of hidtorical fact
Comment from : @AndrewJohnson-oy8oj

US dollars are made of linnen and cotton, not paper
Comment from : @ryanbianchi6582

Trade was also very successful due to improvements in preservation Like salted fish for dry corn for example
Comment from : @adriank8676

MY PEOPLE HELD INTERNATIONAL CURRENCYAS TRADEOFTEN KIAH UNIVERSE CHILDREN BECAME A POPULAR TRADE
Comment from : @pariah-wordsmatter6929

The difference in mic quality between shorts and normal videos is staggering
Comment from : @geraldtucker6952

That was a mind game played on people paper can buy gold thats crazy
Comment from : @robertdobynes4989

Nah, cash is still king in my eyes
Comment from : @kellyshea92

In basic training we used cough drops as money
Comment from : @1Ring42

Oil Standard would be the best modern equivalent Currency somewhat are, but should formally be pegged to Oil (If EVs ever work out, RIP banks)
Comment from : @paulblichmann2791

Get paid in money literally worth gold Pay your workers in money worth less than half that Tell them they got a great deal 😜🤣🤣🤣
Comment from : @paulblichmann2791

Plot twist: that underwater stone for Yap does not exist
Comment from : @somegenericscpnu-7soldier270

Is this Patchman?
Comment from : @raymondobeukes3624

एश्वर्या खूप सुंदर video zala aahe Thank so much tu aamhala बोलवले khup chan vatle❤
Comment from : @yash-js9lv

6:52 : Havok is my favorite member of the X-Men Just sayin'
Comment from : @rogermwilcox

ITS FABRIC
Comment from : @West_Coast_Mainline

This overlooks the possibility (if not likelhihood) of role-obligation style production: the shirtmaker makes shirts for everyone, so no one ever needs to 'trade' for one, and the shirtmaker doesn't worry about growing food so they can focus on making shirts Modern terminology would call this 'to each according to need, from each according to ability' and that's probably more correct considering the level of specialisation of labor we're talking (somewhat, but nothing remotely like modern specialisations) than it could be today
Comment from : @Laeiryn

Commodity money still works beautifully It's only a "problem" with mega-international trade and people who want to print unlimited money for their own benefit Modern fiat money is subject to inflation (read: theft of value for the working classes) on a scale and pervasiveness not possible for commodity money Fiat money is also highly unstable and subject to unpredictable ebbs and flows from deflation to hyperinflation The only people fiat money benefits is the capitalist classes
Comment from : @Nemo_Anom

Fun fact: there are only 15,000 Yapese people in the world, and only about half of them still live on Yap (Look into terrible things the US empire has done to the peoples of Micronesia to understand why) I had a Yapese student last year Her family, although in the US, have several "donuts" (or wheels, as they call them) still on Yap The local Yapese here still use them for small IOUs and loans amongst each other, thousands of miles away from home
Comment from : @Nemo_Anom

stones have more value than those 1 and zeros that i cannot control myself
Comment from : @menajemh

In after WW 2 Germany we also used Cigarettes
Comment from : @adssadassssdsa3582

bottle caps!
Comment from : @hemberger91

The socialists of Extra Credits making people believe that somehow fiat currency is superior to gold
Comment from : @SL2797

Kublai Khan (1215-1294) br Khubilai Khan ordered his scientists to peel the bark of the mulberry tree, which feeds on cocoons, and extract thin strips of paper It was valued by coin marks (1, 5 grades) and certified by the great king's mark, so that the price of gold and precious stones could not be reduced, and it was introduced to every province and village under the Yuan state
Comment from : @whyareyoulying

3:33 The video uses the words "money" and "currency" interchangeablybrThis is wrong
Comment from : @ricardokowalski1579

40°45'475"N 30°03'165"E
Comment from : @kenvepopi

Alright so I went from oversimplified to fun stories to fun bureaucracy to fun things in science to actually important things to herebrMan, hoi4 opens up so many opportunities
Comment from : @Т1000-м1и

Weird
Comment from : @iron4517

Weirr
Comment from : @iron4517

Very interesting, thank you
Comment from : @A-B-19301

I think this the seventh time I have rewatched this series
Comment from : @zacheecoolz8766

Oh so money comes from trees NOICE!
Comment from : @jlninosaga8822

Joe Biden should watch this maybe he could learn why he can’t just keep printing more an more
Comment from : @BuddyWhite616

The fact they counted the stone at the bottom of the ocean is awesome
Comment from : @BuddyWhite616

WRONG!!! There is ZERO evidence for barter before money There was a GIFT ECONOMY instead and the exchanges were mostly symbolic TIME TO END THOSE LIES
Comment from : @ziad_jkhan

Theres actually more than enough gold in the world Fiat currencies just oppress the poorer people
Comment from : @Hatsuzu

ai busse wont comefro another 5 years and subays wont coem fro another 2 years
Comment from : @jarrodyuki7081

ai busses wont come for another 5 years and subways wont come for another 2 years
Comment from : @jarrodyuki7081

That first part makes me feel useless
Comment from : @helpshizi2324

I find it kinda odd that I prefer the videos more about the money and political stuff, like the Irish Potato Famine series, the South Sea Bubble series, and, of course, this one
Comment from : @idadood2278

Thanks for Such amazing content
Comment from : @zaraarali7491

Money is a curse
Comment from : @sarozbagdas5308

Love the smaug reference
Comment from : @faizaan2079

ITS COTTON NOT PAPER ITS COTTON NOT PAPER ITS COTTON NOT PAPER ITS COTTON NOT PAPER
Comment from : @aGoofyMan669

$ Economics 101 U all get a credit for school after watching this Picks & Shovels must be next ✌️ br 💰 📃
Comment from : @tinklvsme

the moral of the story is that he/she (no other) who is capable of producing his/her (no other) own food is the richer person
Comment from : @benthk3dprt136

7:57 their outdated gold? There's an entire economic school of thought that disagrees with this statement
Comment from : @JimboPresi22

6:41 is what is happening kinda In north korea and i think russia due to war and for being a dictatorist nation
Comment from : @stevensannsuerte573

on fridayi was dooing my first economics classabout economic growth and pursutsbrbrfound my self uing infomrmation i learned from this segment so im here to offer my apreciation
Comment from : @masibuleleanele5824

Literally the first sunk cost ever
Comment from : @kotarouriderblack6118

Be careful, this is not the story of money that anthropologists and historians will tell you
Comment from : @LaFacedera

The X-Men ref got me good and idk why🤣
Comment from : @TalkingDullahan

3:35 the cigarettes are backwards 🚬
Comment from : @jamesweldon8118

and now we have cryptocurrencies if people can make credits out of thin air and need something to represent it, not by gold anymore, not by paper anymore, digital representation
Comment from : @ekoi1995

That limestone money was definitely mr krabs dime
Comment from : @comicalmushroom4790

The yap stone “dime” has been in Mr Krabs pants for god knows how long now…
Comment from : @u121386

Thanks! I love your content I hope you get to offer it in spanish someday soon!!
Comment from : @Argastel

John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God
Comment from : @christopher9727