History of Gringotts and Wizard Money - Harry Potter Explained

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Information History of Gringotts and Wizard Money - Harry Potter Explained

Title	:	History of Gringotts and Wizard Money - Harry Potter Explained
Lasting	:	15.37
Date of publication	:
Views	:	167 rb

The goblins are kind of adorable
Comment from : @boysponge705

Oy Vey
Comment from : @MrStupidarmy

This is antisemitic
Comment from : @DrewbattleTheGreat

the concept of property that the Goblins have is mutually exclusive with the body of knowledge that an industry like banking requires, the foundation for banking is private property and the ability to exchange it through a monetary transaction or barter, but for the Goblins the maker is the only owner of anything, but hey, JK Rowling is just a socialist writer so is understandable she doesn't understands this
Comment from : @laughingvampire7555

They have Magic and are still capitalists WTF
Comment from : @pedrofortunato385

They reintegrate currency in some occasions by reverse exchange for wizards Remember most of the wizards were paying the camp host at the World Cup with British money
Comment from : @chadood7645

Why did they not have bank notes, and just relied on coins?
Comment from : @johnking5174

The Wizards of Baking episode 2 brought me here
Comment from : @BayouChicGardening

They all look like Larry Silverstein
Comment from : @Cobbido

Do they accept bitcoin????
Comment from : @MrBeng-zu3bv

How did quirell break into gringotts did he curse a goblin with imperious curse or something
Comment from : @grandmastermario3695

I wouldn't be surprised if the Goblins exchanged Muggle Currency for the materials they need to print whatever magical currency they primarily deal in, most likely employing muggleborns and/or their parents to do so
Comment from : @johnshaffer3405

I’ve always wondered what kind of economy is Harry Potter wizard world I guess since they use gold in exchange of goods and services it’s likely that the wizard community uses the gold standard therefore the likely economic hardship that the society may experience is deflation instead of inflation in the muggle economy that uses fiat currency Does anyone know if wizards pay taxes?
Comment from : @Wmuthoni

The Goblin Slayer should not come into this universe!
Comment from : @dwaynedcosta8313

Why on Earth is Wizard Money so complex What is wrong with money in decimal form: 1, 5, 10, 20 and like I hate math and dealing with finances This is the horrible combination of both
Comment from : @eldridgebrown3907

Why the thumbnail look like the cover of a rap album
Comment from : @dpl9623

That's cool, thanks as always for sharing! So magic money can't be counterfeit but can muggle money be magically extorted via fakes or duplicates of muggle money only? :obrAlso a topic suggestion if I may: what happened to hermione after the what nots? I'm particularly wondering how or if that forgetting spell was removed:o you may have done one on her though
Comment from : @clevelandexplorer2221

At least wizards don't print money and pile up debt like muggles They have real money
Comment from : @bhagyeshmali5714

How many times can you say “Grignotts” incorrectly? Idk the actual number but you said it wrong at least 20 times in this video
Comment from : @johnjstamos3996

So the Wirzadring Worl is Incompeten to have only one bank this is what i call a missed buisness for any other Wizard to make one him self
Comment from : @kevinbaumhoer7359

Lol goblins are just Jews
Comment from : @4chanFootballMemes

I would expect Snape to use muggle money to buy potion ingredients Many potion ingredients come from magical sources, but there are bound to be some that you can buy from muggles
Comment from : @kestrelwings

I would imagine that they could transfigure Muggle money into wizard money with strict emphasis on the exchange rate…
Comment from : @kenjenkins922

that wouldve been cool if dragons had set all the goblins on fire, for what they had done to that one poor dragon in their dungeon
Comment from : @tokus420

Not sure if we need to lock the cannon of the international wizarding financial system in too hard based on Rubeus Hagrid telling an eleven year old that wizards have a bank
Comment from : @gwenweight6916

Isn't it odd how the Goblins seem to be in possession of a disproportionate amount of wealth compared to wizards?
Comment from : @Sumschmuck

The MoM wouldn't run Gringotts The bank acts like a privately-owned treasury and a mint, but the Ministry would set the monetary policy of the wizarding world and would be over issuing law on what is legal tender, which they control They would also set the galleon's worthbrbrThe Ministry would borrow money from Gringotts, and pay off the debt via taxes I imagine it's like any other government, they borrow a ton, and only pay off the minimum payment when due The difference is, the Goblins would claim ownership of the coins, just like they do with anything they make Thus, they are only loaned out to either the government or a customer, or they could appear due Gringotts buying ministry bondsbrbrThe coins in any vault would belong to a magical over being issued from the ministry's national debt, but real ownership of the coins would be retained by the makers, the Goblins
Comment from : @craxd1

Wait REAL GOLD COIN worth 5 pounds?brThat doesn't compute
Comment from : @arivaldhagel2394

How is it that Hermione's parents were able to go to the bookstore in Hermione's second year at Hogwarts? You said only magical folk can get to Diagon Alley
Comment from : @cindyhoffman5547

Just spitballin' here but what happened to the rest of the schools while Hogwarts was at war Why didn't they send aid when Hogwarts was being invaded Is it possible that Voldemort's war against the wizarding world reached beyond Hogwarts? Can we please have some books set in one of the other schools about what was happening there while this was going on This just seems logical and I'm pretty sure they would be as popular as the originals Loved the books, loved the movies Want more!
Comment from : @hamlet1018

Ok…but, what’s a goon to a goblin😅?
Comment from : @mgordon5645

I am very sure that you didn’t mean EVERY WIZARD has to travel to Britain, but every British wizard has to travel to Gringotts As it would be stupid beyond belief, to believe that every wizard world wide has to use them and there are no other wizarding banks in other countries! Or do you believe eg German wizards have to travel to London as there is a Ministry of Magic but no wizarding bank in Berlin? And when Hagrid says „wizards have only one bank“ he means British wizards have only one bank, as he himself doesn’t think or know much of the outer world
Comment from : @schneetiger9249

No they didnt launder muggle money back but they used it to pay certain muggles for certain political arrangements
Comment from : @derechte6086

I really try to get into your videos but honestly they have such little information, it's mostly just you repeating stuff from the books and movies, it's extremely obvious you're just trying to fill a word count and it's disappointing 😔
Comment from : @KyleDBZ117

Wizards buy homes from muggles Therefore they would need to purchase muggle money
Comment from : @jeffpayne9655

Five pounds? I would gladly pay as much as ten pounds for a galleon! Have any on you right now?
Comment from : @EllenGreidinger

It should be obvious that Gringots Bank has an exchange system with the "Muggle" banks so as to not need to keep an inordinate amount of Muggle cash on hand this is what regular banks do when there is a high demand for currency exchange between countries
Comment from : @ivanivonovich9863

Wait so the trio helped a dragon escape? Legends
Comment from : @royenjordy4772

wouldnt it makes sense if muggle money is used to buy gold, silver, to be used in "magical coins"
Comment from : @IGhengisKhanI

Reading the books growing up as they were released, I always pronounced Knut like “newt” and never had anyone to correct me lol
Comment from : @HarveyMeadowlark

Lord voldemort
Comment from : @harshvardhan5893

In the game hogwarts legacy vault 12 is what it leads you to Who has vault 1 at gringotts??
Comment from : @mitchcoop5514

So surely having just one bank is fine as its easy enough to pop to the bank using the floo network
Comment from : @JohnMcGann90

reminds me of Israel LMAO
Comment from : @chrisbuck4955

Goblins are the reason for the ridges on my galleons
Comment from : @rickknoxx

Isnt there also gringotts in egypt?
Comment from : @Kaminkaese

Does Gringots pay or charge interest? How do they make money?
Comment from : @paulblase3955

Maybe they have a bank branch in America
Comment from : @johnwick8756

The idea that Ilvermorny students travel to Britain to exchange their money is so far off Americans literally make up our own stuff for everything; they gotta have their own money 😂
Comment from : @jaymac1800

Thumbnail goblin looks like a caricature of Meyer Lansky
Comment from : @ryancasey919

It seems like lazy world building that there is only one wizarding bank and only in london (with no mentioned branches) but wizards all over the world and just the muggleborns how would they get there especially in their first year
Comment from : @crazyasalways9272

The bank wasn’t even that well protected, a few kids robbed it with really easy magic and all they had was a waterfall and a chained up blind dragon at the very bottom
Comment from : @MegaParrotMan

welll why JKR did last in summer let MR P change magic cash to bitish ponds so last live like a pirsen last during the summmer moths just a think she never EXspains that last if wroght the bok i dun it
Comment from : @redgreen09

How about other countries? Do they have their own wizard banks too? And do they use the same currency (galleon, etc)?
Comment from : @stewartlife

You missed a big factor that wizards also use muggal money For instance when he took Harry to his trial and when they are paying for the land rental for the quidditch cup Also most wizards would have to have muggle attire for travel to and from if they have children
Comment from : @td4190

Personally, I believe Gringotts has branches in other cities that are in other countries
Comment from : @swagnilla_ice

Interesting video but your pronunciation of Knut really bugged me Usually if a word starts with 'kn' the k is silent At least that's how I was taught
Comment from : @brissygirl4997

I suspect that Gringots actually would NOT directly exchange other currencies into ones other than their own, as that is the currency they use to keep track of the value of "things" I say this because their currency seems to act as a form of promissory note It shows that Gringots is indeed a VERY old fashioned bank, but a very powerful one nonetheless
Comment from : @johnrickard8512

I wonder if interest rates are incorporated in wizard money? Harry's vault being dormant for 11 years must have accumulated a bit!
Comment from : @marshawargo7238

I always just assumed when Hagrid said "just the one" he wasn't talking about there being just one bank location but rather just 1 banking institute that had multiple branch locations scattered across the world For example, Wells Farge has locations all over the US but their locations are all just one bank, the Wells Fargo Bank
Comment from : @Princess_Celestia_

Is there any real bullion wizarding money
Comment from : @patriciaariley5810

One thing I always assumed about Gringotts is that they must have branches of the Bank located in every single Wizarding Marketplace in the world So presumably there's probably at least one branch in the US, likely more given the size, as well as all around the world
Comment from : @robertgronewold3326

Gremlini se odnose na Jevreje! Oni se bave srebrom, zlatom i dijamantima!
Comment from : @tripsando5059

I like how the banker goblins look Jewish I love the stereotypes in having Goblin/Jews running a bank
Comment from : @opossumlvr1023

didnt Voldemort Slauter them
Comment from : @Louylou187

Is there any other magical wizard banks? Like in other countries in the wizarding world?
Comment from : @Brandonian

You could hardly show up in a muggle bank looking to exchange gold, sickles and knuts So Gringotts and other wizarding banks probably offer a currency exchange so that all of the magical community can exchange their money if they need to buy things in the muggle world Or for witches and wizards who work in the muggle world who would obviously need to convert muggle currency to wizarding currency Gringotts is supposed to be a bank isn't it? It surely has a currency exchange As for a crimnal being allowed keep their money in Gringotts, that's not unusual It would be unusal if they weren't allowed do that Just ask any politician because they're all criminals with bank accounts 😂
Comment from : @emeraldcountess8471

Do goblins run the wizard and witches version of Hollywood?
Comment from : @iamsnayef

Love the video 😊💪🏻🎉🎊 Also I'm here also to remind you all that harry potter and black clover share the same universe Both creators of both series confirmed this And there is just one grimoire that we know of on harry potter planet Also Noelle uses a wand in black clover You see, ya don't need a wand to use magicbrbrA wand, much like a grimoire helps you control magic better, as a mana zone creates a pocket of more control and more magic in that area for you
Comment from : @gravethebeyond

“You look like Jewish propaganda “- everyone
Comment from : @BrandonPepper-iz6rh

as always, waffling for half the video on a topic semi related to the video
Comment from : @fbi7817

i wonder, maybe there is only 1 Bank but it have offices etc in a multitude of countrys afther all Bill was working for the bank but he was stationed in Egypt so i think there is a possibilty for this to be the case
Comment from : @baldrian22

I wish Jews were a Harry Potter only thing
Comment from : @sneedfeed3179

Imagine being a witch or wizard from the other side of the world and having to go to Gringotts every week for your money Seems a bit flawed since there's only one bank in the world for witches and wizards It would make more sense to at least have one bank on each continent
Comment from : @CosmicDuskWolf

goblins are based off jews thats what rowling said
Comment from : @WhoCares-ty7jo

got a question if the gringotts goblins are such epic craftsmen why is their building so skewy when olivander in contrast has a perfectly normal straight build house
Comment from : @Brainreaver79

So basically Harry and the gang were the first successful bank robbers of Gringotts? I bet a young Harry would have never guess that upon visiting for the first time and hearing all those warnings! 😜
Comment from : @JARedwolf100

I always thought that the goblins were supposed to represent Jews as a Jew my self We are usually portrayed to be money, hungry and with money just in general Short big ears, big nose hairy
Comment from : @wessaxon964

It has very Antisemitic under tones!!
Comment from : @matthewshore2533

In britain That does not negate the possibility that gringots did not open branches across the world in almost every country
Comment from : @NoneofyourBusiness-iv6pi

I'd assume they can exchange galleons into pounds, etc And I wouldn't be surprised if they invest in various was in the muggle economy vs laundering it
Comment from : @trillz31

Colin Ellicot, l recon that Harry Potter 'd need to save the money for later for when he needs it(lf l read it correctly)
Comment from : @davekilby4515

I like the beautiful architecture and decorative design of the bank lobby at Gringotts l would like to have a bank account and debit card of that bank, By the way how'd you like to have a vault miles below the ground? Would be downright amazing to be able to get to that level that far from the ground Imagine having a dragon protecting your money and valuables he!?
Comment from : @davekilby4515

4:25 This is actually why I agree with the wand laws that says Goblins cannot own/carry a wand If the ministry has actually been smart they would have leveraged that to either gain control of Gringotts itself or to get the secrets of creating Goblin armor By deathly hallows I had zero sympathy for the goblins and felt quite good when griphook screwed the golden trio over and got his just desserts
Comment from : @MAGAWITCH1990

🪙
Comment from : @saintzeroinfinity

I'm sure the malfoys and others of the like, exchange currency discreetly, for a hefty charge
Comment from : @erichouser7756

Perhaps a video on the manipulation of space in the wizarding world - expansion and contraction of spaces,and also apperation, which is presumably "folding space" The originis and limits of said abilities? - How far can one apperate, how big of a space can be made to exist in a smaller space, how does magic presumably sustain said changes, against the physics of the Universe etc? 🙂🙃🙂
Comment from : @danieln2421

Maybe they hold onto some of the muggle money just in case wizards need to “vacation” or other business with muggle
Comment from : @brianmartyn2631

I've always wondered why Wizards didn't just multiply gallions with a charmbrbrThe reason this isn't possible is because Gallions etc are made by goblins so they can't use a charm to create more of them as goblins will be able to tell it's a duplicate
Comment from : @Martyn_Wolf

"Yer be mad to try and rob it!"brSix books later
Comment from : @Mrjacharles

" I said I would get you in I didn't say anything about getting you out"
Comment from : @ginantsfan5

there are Gringots banks overseas though as Bill works at the one in Egypt
Comment from : @samanthalawton6972

I figured the squibs that live in the muggle world Could work for the ministry of magic as informants or something like that get paid in muggle money
Comment from : @joshfinn1432