?? Work at Pickup Points � Flexible schedule

The History of Paper Money - The Gold Standard - Extra History - Part 6

Extra History 1 views

Download Video

Comments

I’m not sure abandoning the gold standard was a good idea The value of the US dollar has lost 99 of its value since abandoning the gold standard Everyone should read “The Creature from Jekyl Island” It will blow your mind
Comment from : @ohiou_2kbobcat494

Good bye, us hegemony It was cool
Comment from : @chriscomp20

So that is why us dollar is so powerful because they may have surreptitiously planned the war all this time
Comment from : @mar-yn3pp

Yayy now inflation can run rampant and the governments can decide the value of things arbitrarily!!
Comment from : @jero667

Believe it or not, my Economics professor added these videos to my pre-reading
Comment from : @georgekottakal2264

Rampant hyperinflation from governmental control and the government constantly trying to prop up their economies by injecting money printing into it is now rearing it's ugly head as a major weaknessbrbrWorse, you've got way too many uneducated people voting for politicians who keep promising to do this/that and the only way they can follow through is by making the money everyone relies on far more worthless This creates lag when companies can't keep up, panicking by raising prices compared to what people are paid, forcing everyone to walk around with money that can't get them what it did a few years ago to a drastic rate We've given over our ability to pay for things to the central authority that also owns the military and trade agreements with other countriesbrbrMoney should always be backed by isomething/i Whether it represents energy use or availability (a concept etched out in some crypto), a food commodity, useable gold in tech, ammunition, or percentage ownership in something This is because money is the measuring stick by which we determine the equated value of things in exchange, and if there's nothing to measure to, it becomes meaninglessly abused and far more difficult to investbrbrNow that money is "the medium by which things are exchanged", when a crisis befalls that medium, it destroys everyone's ability to use it simultaneously It's like the spoons you used to eat hot food is now dissolving in the dish, and when it's difficult to use or gone completely, you have zero way of eating
Comment from : @WritingFighter

Also, I know that the dollar has been weaker than the pound historically, but $10 to £1 is savage
Comment from : @TadashiKitsune

That GS reminds me of the GE logo
Comment from : @TadashiKitsune

Everyone outside of the west values currency for its value, not the medium for exchange Let's see how far the West can float with it
Comment from : @DeusVultConstantinople

Great Explanation Sir, The History of money is a very exciting subject to me
Comment from : @HistoryOfMoney247

"WW 2 was perhaps the most expensive war in history"brThe Biden Whitehouse "Here, hold my beer"
Comment from : @edwardmclaughlin7935

Main takeaway: gold standard works great in peace time but doesn't perform in wars Now let's see - how might we get around this one?
Comment from : @edwardmclaughlin7935

This is assuming we are correct in our current thinking Who knows what the future will bring
Comment from : @Tanky-j3w

It's important to point out that Nixon "temporarily suspended" redeemability of the $ for gold That's the message that went out to the world So we didn't really consciously accept the situation People thought this was another temporary situation, just like they had seen in the past
Comment from : @katharina

Maybe America should just stop bombing other countrys and stop the wars
Comment from : @outsidethebox310

Vive de gaule vive la France
Comment from : @fouadelhage4386

Andrew tate brung me here
Comment from : @Breaktheatm

It's not the first time it has happened either This happens over and over throughout history shortly before the fall of an empire
Comment from : @BallerDan53

Wha tid yerman say to serbia to pay them becouse of killing arch duke and making audtria make ww1
Comment from : @laalisahgibaga1950

Now, there’s also credit cards that we can pay through monthly bank transactions without ever using paper money
Comment from : @mariapdr3261

But India still carries some gold reserve against their currency? Why?
Comment from : @madiha_tanveer273

I no longer believe in money 🤣
Comment from : @madiha_tanveer273

I personally thionk that even if the US consistently resists the temptation to print too much money there's a rather large risk of other countries(like the DPRK) counterfieting vast quantities of US dollars
Comment from : @failiuredoofus

0:38: 💰 이 비디오는금본위제의 개념을 다루고, 어떻게 종이 화폐에 대한 신뢰를 부여하는 데 영감을 주었는지에 대해 설명합니다brbr2:07: 💰 금본위제은 통화 팽창과 국제무역에서의 환율 문제를 해결했습니다br화폐가 금에 묶여있어, 무한히 찍어낼 수 없었고, 화폐 교환시 금으로 기준을 정할 수 있었음brbr4:20: 💰 19세기 동안 금 표준 시스템은 잘 유지되었지만, 제1차 세계 대전으로 인해 전쟁 자금을 조달하기 위해 더 많은 돈이 필요하여 붕괴되었습니다br금 대신 토지, 또는 애국에 호소해 금으로 돌아가고자 했지만 대공황으로 물거품br2차 세계 대전으로 끝장남 br6:44: 💰 브레튼 우즈 시스템은 제1차 세계대전과 제2차 세계대전 이후의 금융적 및 정치적 불안정성을 해결하기 위해 설립되었습니다br미국만이 금본위제를 유지할 수 있었음 달러의 기축통화화 br8:45: 💰 금본위제를 포기하는 미국br프랑스의 금 뱅크런과, 그걸 따라하는 다른 나라들br계속되는 전쟁br명목화폐체제로의 변환br화폐는 더이상 실물에 묶여있지 않고, 추상적 개념이됨
Comment from : @birdy0090

Cool series tbh
Comment from : @gabr7878

u guys make some of the most amazing videos!!!
Comment from : @crazylegz45

6 episodes on paper money and its problems not a single mention of rothschild or jp morgan hmmm🤔
Comment from : @doom1509

Well, no WW2 Was won from the Russians Russia took 80 of the impact and that's why dollar had problems
Comment from : @habgeVRL

Bro money can still be linked to gold jus go buy gold
Comment from : @aharondavidson777

currency based on belief is like a world wide game of pretend
Comment from : @BuddyWhite616

I'm bad at economics and I didn't understand how the dollar got overvalued after the other nations' economies recovered and what that rise in value entails?
Comment from : @gabis2603

50 years vs 5000 years makes me want some gold and silver
Comment from : @alexroberto6353

9:14 What do all those symbols mean?
Comment from : @gkjaerby2441

Interesting Humans Now The Dollar Hegemony is Dying
Comment from : @kingsleynkrumah4762

Neat to see the conspiracists finding this series
Comment from : @Crandlefist

2023
Comment from : @luisduron2722

and this is why the world is in shambles great
Comment from : @THELASTMESSAGE1

John Law quote: "We accepted that money is the medium by which things are exchanged, not the value for which they are"
Comment from : @jannmikoingelrabagogamingc6012

And now we're screwed
Comment from : @CarlJohnson-hb8tp

Now I understand that staying away from gold standard gives the country that has the most valuable currency the power to make war till no end, no limits, but people’s minds don’t work like that and they need some sort of security behind the money, that is why slowly the other countries are starting to use less and less the dollar, and the petrodollar is now over Time to wake up Cbdc are to take control over everyone Enslave the people for their government against their will, forced ‘’patriotism ‘’ that no one believes on it anymore So the slaves fight the wars of the “elites” 1984 in anabolics
Comment from : @menajemh

Well, no Money is represented by a country's GDP It's not "floating" At all
Comment from : @jonahfalcon1970

nobody "accepted"brFIAT currency is imposed under threat of imprisionment if you refuse to use itbrpaper money is a scam backed by violent thugs we just call the scam "central bank" and the thugs "government"
Comment from : @ricardokowalski1579

after WW1 Britain asked Australia to pay it's lones back It almost caused a civil war when the NSW Premier Jack Lang so no Had Jack Lang not been the bigger man and resigned there would have been a Police VS Military The Police at the time were still armed like an army
Comment from : @jouebien

And you end on such a happy note, never mentioning the absolute terror that this hold As long as we continue to dream that the economy will always be good, it will work, even as it continues to spiral out of control with longer and harder recessions following one anotherbrOh yeah, and if one catastrophy happens that shakes the global economy, it will be a real big quake Such as a global pandemic, running out of oil, the internet being knocked out, a new world warbrLike Imagine a complete shutdown of global trading for several years and realize that almost no country produces enough food to sustain itself
Comment from : @torylva

Great series btw!
Comment from : @Rairiky

The funniest of facts: central banks still have massive amounts of gold as reserve but now the main source of backing of your currency is other currencies/bonds,mainly from your main trade partners
Comment from : @Rairiky

51 years ago as of 2022
Comment from : @commandertrigger218

I feels like a economy student via all this episode n get my diploma just now by end of this onebrbrGreat journey everyone
Comment from : @Wolfboy_109

and now that we have fiat currency, the government can just make themselves richer by printing more cash
Comment from : @danielroy8232

Dissolve the UN, make an organization that would show this channel at schools
Comment from : @Т1000-м1и

So basically we went from the gold standard to the dollar standard
Comment from : @llSuperSnivyll

“Less than 50 years ago”… ouch my back
Comment from : @mastrheartsxiii

Strangely enough, now we use the money to BUY gold as an investment prospect Gold is now literally a product we buy
Comment from : @aaronfidelis3188

But Gold and Silver also was and is worth something because we all agree it is?! Was that not the argument for the paper money in one of the other "Ths History of paper money" videos?!
Comment from : @chrisbenn

Thanks for such Amazing series ! but Surely there is some more to it
Comment from : @zaraarali7491

You forgor that another of the actual reason why money is worth something for us is because is the only thing a state accepts as tax payment
Comment from : @sirnikkel6746

The goldstandard had also the disadvantage that just a handfull of countrys could implement it Most of the worlds nations had silverstandard or just nothing Agrarian economies often had nothing And only the industrialising nations had gold England and the USA were the only one for a long time
Comment from : @TOFKAS01

Excellent
Comment from : @mohammednaseemnasar1680

To be fair, the American Great Depression wasn’t caused by the gold standard but by the excessive printing of money as well as the low low interest rates the central banks were advertising As for getting on the standard, it just was very liquidated
Comment from : @lord_tylor6866

so the moral of the story is when you have gold everything is better
Comment from : @benthk3dprt136

So quick question what if you unpeg your currency from the US dollar what would happen
Comment from : @chrisbana5874

Wonder if the series could be used as an introduction to economic classes I know that when I was taking courses in economics that it was far too abstract for me to understand While the whole concept still seems surreal, I have a better understanding It might be somehting to think about
Comment from : @karendebbiejohnson7480

Year 2022, the idea didn't age too well Unrestricted money printing still leads to economic collapse
Comment from : @alexxx4434

Nixon did NOT take the USA off the gold standard, it was FDR that took the USA off the gold standard in 1933 Every country outside of the USA was still able to redeem US dollars for gold except US citizens, which was really unfair for US citizens It was Nixon who stopped the conversion of USA gold reserves to other nations in 1971 Had Nixon not have done that, US gold reserves would have been all gone within a couple years
Comment from : @stanleykijek6983

The first 7 seconds deserve their own episode
Comment from : @amlanmohanty1233

Theres also the petrodollar that is now turning into the petrorubble in the EU due to Ukraine
Comment from : @sonicninja3434

And now the problem is that If the US economy falls, everybody falls with them
Comment from : @freddyromariovasquezcairo2250

Current US$ is peg to oil because you can only pay for oil in US$
Comment from : @yutakago1736

What does, let their currencies "float" mean?
Comment from : @_STNML

Any official sources?
Comment from : @georgemackenzie3311

And now, in 2022, we are experiencing the negative effects of accepting money as an idea rather than a thing
Comment from : @doublepiedavid8908

Wish we still HAD the gold standard, would probably fix a lot of issues
Comment from : @aquamarinerose5405

3:29 Hey, that’s what Russia just did! What a wacky coincidence
Comment from : @howdydobuckeroo1204

Nothing like watching this series again in 2022
Comment from : @krl10101

Even though it's literally happening in our time, can you guys do a short series on the evolution of paper money to digital
Comment from : @meadpro

Thanks for an amazing video! You truly have a gift for explaining things really well
Comment from : @VivekSharma-tm7kd

The different currencies is why there’s so many exchanging booths back in my country ay ay ay
Comment from : @kelvisaisawesome

And that's why Bitcoin
Comment from : @mikakestudios5891

Germany caused the war They bshould/b have been forced to pay to bail out the other countries
Comment from : @Leto_0

Man, economic history is fascinating I mean, I'm terrible at maths so economics will never be my thing, but economic HISTORY? Heck yeah
Comment from : @SilverFoxSpirit97

And now with the pandemic there has been a shutdown of our economy, excessive money printing, and we might be going off to war
Comment from : @jamesbombss5777

3:22 I like how he was just likebr"Can I eat this?"😂
Comment from : @That_Goiky_Gowrl

The probles isn't "accept money as an idea" Its accepting the FED to print and value basically all the money in the world
Comment from : @ricardozuniga9664