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The Gold Standard Explained in One Minute

One Minute Economics 538 views

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Ah so we can blame inflation on France
Comment from : @noahrodriguez7818

the value of usd is in what it can buy which is determined by the price of goods and service/ interest rate tax the fed reserve sets in the endbrits the taxes we pay that determines the value of the currency usd like all currencies no matter the form is a medium of exchange ps taxes aren't for fed gov spending only at that state level congress has to spend that money into the economy
Comment from : @GAPLeftistMacroMind

Wrong india map usedbrIt's very wrong 😔 brPlease change it
Comment from : @Aditya-c2n9b

💎 Blackrock Gold 🪙 ETF (IAU) 💎
Comment from : @andrewereynolds5840

I miss pegging
Comment from : @karlstriepe8050

Why it was set to 35? What was the logic behind it?
Comment from : @pedrodan

Now history repeats but with Bitcoin hope everyone get a piece of it before it’s too late ⏰ God bless all human beings
Comment from : @latcocina1220

Thanks brother
Comment from : @nahom9205

So in other words without the gold standard the government has given itself the capacity for unlimited money glitch
Comment from : @michaelburtrum

You mean, things devolved from there
Comment from : @nocturneuh

Hat mir echt weitergeholfen
Comment from : @tolinavonius

At 0:36 first of all the map of India which you have shown is not correct at all pok was is and always be an intergal part of the republic of India so I urge you to correct your mistake and don't repeat them in future
Comment from : @akshatagrawal8647

They forced them to give up there gold because they didn't want everyone to be rich lol don't buy into the crap
Comment from : @walternicks8308

CONFIDENCE in bureaucrats and the dumb fucks who keep them in power a system doomed to fail
Comment from : @disposablehero43

Enak ya kalo rupiah basisnya emas, tahan inflasi, tapi ya
Comment from : @adityo5483

"shallow draughts intoxicate the brain"
Comment from : @timetraveller6643

This didn’t explain the gold standard at all
Comment from : @williamwilson6499

So make fake brick money
Comment from : @loemorales6177

😮
Comment from : @timothymcglynn1935

Big Nixon L
Comment from : @ADHchuD

I never viewed metals as an investment, but I always saw it as a great way to save your cash & retain the value from when you bought it It’s not hard to turn it to liquid cash, and it beats letting inflation destroy your savings
Comment from : @Hannahbenowitz

“Erm, achully this video is 1 minutes and 30 SECONDS!☝️🤓”
Comment from : @MysteriousBlackVoid

Soooo, they were like"damn this real thingwe run on thoughts and prayers now"
Comment from : @davidpeters8821

You forgot to mention that now they can just print as much money as they want raising the prices of goods and services and giving the state the ability to buy whatever it wants
Comment from : @TheSonic1685

I friends it's me Prasad 😁
Comment from : @moviesclips817

Because why should people & politicians be held accountable for their handling of money!
Comment from : @bearlogg7974

But but but if there isn't enough gold to match the money it just wooontttt workkkkk waaaaaaa
Comment from : @stan3070

Greetings I must respectfully disagree Please consider reading the following brbrOn June 5, 1933, the United States went off the gold standard, a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenablebrSoon after taking office in March 1933, President Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy He also forbade banks to pay out gold or to export it According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken notebrOn April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $2067 per ounce By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent This increase in assets allowed the Federal Reserve to further inflate the money supplybrThe government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard In 1974, President Gerald Ford signed legislation that permitted Americans again to own gold bullionbrbrSource: historycom/this-day-in-history/
Comment from : @theseljan

We dont Trust US No onfidence in US or its Dollar , everything in US will fall like Rome US is a state that is bound to fail at last No hopes UK can stand , as it has BU US its a NOSanctioning evrything,here,there If it was a neutral country i would say it wuld stand ,but is not neutral country
Comment from : @EssayMaestro

L adin
Comment from : @guttguttdettemablisluttgut8701

One criticism Money isn’t backed by confidence It’s backed by debt The cash that circulates is basically notes of credit (similar to the credit in the term credit card) between the government and the central bank
Comment from : @jackdrook9762

Thank You kind Sir
Comment from : @beboysub

That's why thee people of today are embracing digital assets brbrIts scarry to base your currency on people's confidence brbrPeople are moving towards bitcoin to save their future
Comment from : @freakymeltdown1

The Philosopher's Stone In 1980, gold was successfully made by a team of scientists at the Lawrence Berkeley National Laboratory in Berkeley, CaliforniabrNuclear chemists Glenn T Seaborg, David JbrMorrissey and Walter D Loveland used a high energy nuclear particle accelerator known as the Bevalac which transformed the metal bismuth into gold The process is known asbr"Chrysopoeia"
Comment from : @Jackson-l3r

People confidence? LOL, all the money in the world trades using banks with Swift codes like IP address and USA banks are the back bone of the systems like Internet with the uSA back bone Hence the USA can see how much USD each country needs and what month a country needs dollars more than the other 11 months in a year
Comment from : @MSDGroup-ez6zk

W Andrew Tate L Adin
Comment from : @alexCA58

The value in this video is insane Andrew about to have a 7 year old video hit a million views just from yelling at Adin L
Comment from : @Thefitnesstrucker88

Hears a tip from the Lizard King - the future's uncertain and the end is always near Roll, baby roll
Comment from : @hhickenanaduk8622

Glad to see all the young students here soaking up this BS It'll make my retirement easier when I've sold you houses for ten times what they're worth The dollar is as gold is as the economy is tied to several things, major things, that it always has been mostly to do with the weather, soil fertility, and available housing Gold was only valuable because it does not tarnish, there are things much rarer on this Earth The fallacy of all this is that castles made of stone fall in the sea eventually
Comment from : @hhickenanaduk8622

Pet-ro-dol-lars Tied to nothing? Think again
Comment from : @hhickenanaduk8622

here from bald man vs L adin I wanna keep looking into this a bit
Comment from : @VoxFruit

L adin
Comment from : @jahcreativeco

Adin is not stupid, he knew this He is just being paid to act stupid
Comment from : @rickace132

So thats why the Banks are corrupt they just run way with the people gold and told them to have paper instead mtfs 😂😂
Comment from : @herculesleonardo2802

F Adin Ross W Andrew
Comment from : @farhanali-vz6or

So everyone is here from Adin Andrew stream? 😂
Comment from : @jpelite2110

There is one HUGE lie in this explanation Fiat currencies are NOT backed by confidence Fiat currencies are back by the LABOR of the people This why government creates jobsbrbrThe government BORROWS the currencies from the central bank and the COLLATERAL are the birth certificates This is why the people pay taxes to pay back the loans and the interestbrbrThe taxes pay the interest because more money is constantly being borrowed which means the principle loans are NEVER paid backbrbrThis is why the CBDC'S are being introduced because eventually the government will DEFAULT on the loans and the taxpayers become the property of the bankbrbrThis is how LEGALIZED slavery will be re-established in the US and the world Welcome to the NWO
Comment from : @user-zb4wh3ks2e

Haha just paused him Talkin to ✡️boy about money and came here😂🙏🏾
Comment from : @adzee2am51

Interesting I always thought currencies are backed by gold, but from what i understood they aren’t? Fiat money is backed by confidence in your country and society?
Comment from : @kacprorzchannel4732

Guys Adin is a complete clown TOP G literally came with a white board to explain imp sh*t but Adin never fails to dissapoint himbrW TOP G
Comment from : @bswajena7176

Andrew Tate brought me here
Comment from : @bambamhakkai

Here cause of Andrew Tate
Comment from : @alexdiaz1769

POV : you are here because ANDREW TATE told you to watch this
Comment from : @Money-Madness100

So basically it's a scam
Comment from : @mywayorthehighwayking1356

Shout out to tate
Comment from : @Breaktheatm

tate
Comment from : @King-tz8ih

The context of people being here is from Andrew Tate (im sure you know who he is) went on a stream by Adin Ross Andrew told him to research topics such as The Gold Standard, The Bretton Woods System, Quantitative Easing and the current fiscal system Sir
Comment from : @jeoq

Tate putting me on
Comment from : @jeoq

Top G
Comment from : @savagegang9443

here from adin stream 😭😭
Comment from : @ether8928

Here from adin ross stream, and just learning these type of things is interesting
Comment from : @KingKevin_Segura

Who’s here from Andrew Tate
Comment from : @Velinto

TOP G
Comment from : @user-exuytv

This is what adin failed to realise is that even just mentioning these topics on stream has us on here researching these important topics W top g
Comment from : @pierlucaangrisano6510

So it's basically a scam
Comment from : @lordcusnir

thanks adin
Comment from : @loso9732

So in other words Take my money “out” of Canada…
Comment from : @beatchildproductions

It also started STAGFLATION in the 70s for the US!!!
Comment from : @jeffreyknopf8959

So basically Fiat bought Chrysler after the French was the first to stop putting their trust in America
Comment from : @Bargainteers

If wages were paid in a specific amount of gold without any raise in that amount, wouldn't that stop inflation? What you can exchange for 10 grams of gold today would not change to a lower value even if that same 10 grams of gold would be used in a 100 years brI would really appreciate an economists take on this
Comment from : @theleafsprungjeeper

BRO THANK YOU❤
Comment from : @Exodianotforbidden

Why limit the economy to the scarcity of gold? Much better to just print the money needed by the country I think
Comment from : @damien86

So thats why Libya was overthrown
Comment from : @ChristusRex081

This is why you Bitcoin
Comment from : @rylanfegan4913

The gold standard is a HONEST money system and that's why it is hated by bankers
Comment from : @DavidLucas-zq8gb

why do you think they killed gadaffi lol
Comment from : @infertilepiggy5667

All the world's economies should be based on gold or at least some valuable materials
Comment from : @cubirk

2024
Comment from : @jairajraghuvanshi3603

So basically, the US is simply printing dollars as much as they want and buys whatever they want Great 🤦‍♂️
Comment from : @venoyg

The gold standard is returning and I want to know what that means for the average American citizen
Comment from : @ginger9255

“Backed By Confidence” lmao insane
Comment from : @izaiahcrowned

hahaha the united states and therefore the world is such a funny sounding sentence I understand what he means but lol
Comment from : @nicoles3166

Is Gold coming fom South America different from gold in Amerca or do gold not lose value???
Comment from : @IkeTurner20

Is gold coming from the east differnt from the west or do gold not lose value?????
Comment from : @IkeTurner20

So who has all the mother-fucjing gold?
Comment from : @renrashad

Nixon and Wilson are both to blame
Comment from : @punklover99

It was Harry Truman that started the central banks intentionally
Comment from : @tweber1286

what software have you used for animations?
Comment from : @DavyDeloom

Well the US dollar is not entirely based on confidence It is back by BONDS For every dollar created, a bond is created It is a based on borrowed money
Comment from : @murimurimrui