The History of Paper Money - Lay Down the Law - Extra History - Part 4

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Title	:	The History of Paper Money - Lay Down the Law - Extra History - Part 4
Lasting	:	8.36
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at least france could access the land they were trying to trade in
Comment from : @Evan-cc3fr

Let's compare South Sea and Company of the West Both were trading companies, which handled gov't debt and had no real business as trading companies, that had massive inflations on stock price, and eventually failed, with the people who founded getting an honorary title
Comment from : @Devious25

Not his fault he killed the man It wasn’t what he wanted it was a duel they BOTH agreed upon
Comment from : @GabrielleLomax-vu9uj

How is selling shares at 15 and having people pay the rest back at regular intervals not a failure in concept? That plan was destined to fail from the beginning Inevitably a large number of people weren’t gonna be able to pay back those shares and the whole house of cards was bound to come tumbling downbrbrAnd this is similar to the economic crises we see today 2008 happened because banks gave too many housing loans to people who eventually couldn’t pay them back It’s the same concept as what happened to Law brbrThe entire concept of credit under capitalism has largely been a failure thus far, and not just in its execution The question we need to ask is how can we spur on development, as the credit system clearly has, without it leading to massive economic crashes that destroy people’s lives en masse?
Comment from : @MidwesternMarx

Stop blowing my mind sir
Comment from : @aKalishnacough

Hearing my name over and over made me pay a lot of attention to this video 😂
Comment from : @LawTaranis

The central bank of France was created by napoleon in 1800
Comment from : @fouadelhage4386

0:00: 💰 종이지폐의 진정한 활용br금과 은이 고유 가치를 가지지 않는다는 Barbon의 생각 존 로우로 계승되 응용됨br결투 후 네덜란드로 피난br2:24: 네덜란드의 부강함을 연구br돈의 공급과 신용거래 때문이라고 결론br금과 은이 안정적이지만, 경제의 한계를 만든다고 생각 중앙은행을 고안 br3:51: 💰 존 로우는 자신의 금융 전략과 도박 실력을 통해 도박꾼에서 유럽에서 가장 부유한 사람 중 한 명이 되었습니다 br6:08: 📈 존 로는 프랑스에서 은행 주식을 발행하고 판매하여 정부 부채를 상환합니다br같은 방식으로 미국에 회사를 차린 뒤 주식 발행br주식 가격 급등 br수익없는 부실기업 br뱅크런 발생
Comment from : @birdy0090

6:26 Sounds like The South Sea company
Comment from : @gamespotlive3673

La banque law un classique
Comment from : @lucienarcos-palma3834

What I would give to be the Duke of Arkansas
Comment from : @bhzaddybhzolby1705

gold and silver have intrinsic value, from dental implants to the manufacture of electronics
Comment from : @Thvndar

Gold and silver do have inherent intrinsic and extrinsic value Don't let charlatans say otherwise All John Law showed was that fiat money leads to the destruction of economies
Comment from : @Nemo_Anom

Criminals were given a pardon if they married a prostitute and moved to Louisiana …
Comment from : @arianlucatero7649

Here in 2023 you're glorifying the very thing that is anchoring us down and bringing us to destruction!!!
Comment from : @josephhebert1785

0:47 "he thought banking was too honest for his liking"brbrNever thought I would hear anyone say that lol
Comment from : @hiimryan2388

South sea company but France?
Comment from : @guyknack

Damn now I'm even more interested in learning about some of those scam prostitute/criminal marriages 💃🏼🕴🏼🏡 lol
Comment from : @JustAguyFromJersey

This explains a lot about Louisiana
Comment from : @Jkjoannaki

So the dutch created modern banking?
Comment from : @Toin9291

What's the outro music?
Comment from : @josephshlanta8870

What do you mean by the conjecture at 8:06? I don't understand it
Comment from : @chrbx13

The damage done by these money technocrats through central banks is incalculable No man in this series is a hero to me
Comment from : @aaronleedescombes

Pulled the same short term trick from the south sea trading company
Comment from : @rileyoneal7860

Watching this as the US economy collapses for the same reasons
Comment from : @gunterxvoices4101

I find it funny that at 3:40 they make it seem as if Law is making a bunch of impressive calculations to determine his odds of wining, when he literally is holding a royal flush, which is the best possible hand you can get
Comment from : @thelittledude2022

I like how when the words “ gold and silver” are said there usually used quickly a few times after
Comment from : @joshuagraham1586

bIntense South Sea Bubble flashbacks/b
Comment from : @SilverFoxSpirit97

What is the opposite of Nominal Determinism?
Comment from : @SilverFoxSpirit97

Next up: England: South Sea Bubble
Comment from : @haljoa5165

Why is this reminding me of the episodes on the South Sea Bubble…
Comment from : @annikathewitch3950

This reminds me of Making Money by Terry Pratchett 😂
Comment from : @AlSidre

POLYMER MONEY IS DA BEST
Comment from : @bonglambitco80

Who doesn't love the dutch
Comment from : @PossessedPotatoBird

This is a french south sea company in action
Comment from : @avacurtis7140

John Law, ironic
Comment from : @filiaknight8514

I'm always sad that this announcer advocated his position I think the bearded man is pretty good but I just really enjoyed listening to this young man
Comment from : @chickensniffer451

Law was apprehended by the law…
Comment from : @fence03

To say gold and silver have no inherent value is funny when you understand that those who make the claim put their faith in paper debt that is HOPEFULLY tied to those worthless bricks
Comment from : @thomasmanning829

His rival fought Law, but Law won
Comment from : @Gigawolf1

wait, an englishman accidentally crashes the french economy?
Comment from : @placeholder577

Stonks
Comment from : @OrbitalAstronaut

"Money is the value BY which goods are exchanged and not the value FOR which goods are exchanged"
Comment from : @Patrick-ud3vu

Your subtitles aren't working
Comment from : @aleksandriajohnson3782

1:24 Law was caught by the law
Comment from : @casualsleepingdragon8501

I've been wondering if we are going to find that this is the reason why Braavos is the economic powerhouse of GRRM's world The Iron Bank uses iron coins, after all, and Amsterdam IS one of the inspirations for Braavos
Comment from : @cryptan6756

Duke of Arkansas sounds like a strange Dukes of Hazard spin-off
Comment from : @LudicrousPlatypus

As I try to watch the extra history playlist in chronological order I am confused to find that while the history of writing was accurately dispersed throughout the timeline the history of money was very very much not I’m trying to connect these various plot threads together into the context of time but the lack of effort to properly disperse this series makes it near impossible to place it on the timeline of historical context Didn’t it say banking got started by the crusade? Why didn’t it pause to cover the crusade like writing did to cover the Bronze Age collapse? I was at pre-renascence a second ago, why am I now so close to present day? Why are we talking about London already? We hadn’t even gotten to the Romans yet This playlist needs to be adjusted, it’s lazy and unhelpful to lump the entire history of money together in a playlist centered on chronological order
Comment from : @Boxygirl96

As soon as he formed a trading company to help sell his bank stocks, Walpole flashed in my mind and I knew the venture was finished
Comment from : @ryanmcintyre5639

Oh yeah south sea
Comment from : @BlueBlackOp1

Whoa whoa whoa marrying a prisoners marrying prostitutes and moving to Louisiana that sounds like there are a ton of interesting stories there
Comment from : @Derekivery

Note to self: bMoney is the value BY which goods are exchanged/b and not the value FOR which goods are exchanged
Comment from :

Great video, but 7:56 fails to see the problems still caused by the concept today Being backed by gold, or really anything to enforce that ceiling is what prevents runaway inflation and makes corruption harder (though by no means impossible) You mentioned before that silver had be skimmed but that takes physical effort and time for every bit skimmed, with purely paper money, those in power can spend the entire economy's wealth on a whim
Comment from : @PhyloGenesis

I know this is an old upload now, but brDoes anyone know what these Scottish ventures in Central America were?
Comment from : @ChefGuevara267

hi extra history thank you so much for these videos it helps my class learn a lot about history
Comment from : @chefmelj449

did anybody get the pun at 3:17? outLAW
Comment from : @blackwoodredwood

6:25 the south louisiana bubble
Comment from : @lapeez2277

"Banking was too honest of an employment for him, []women and cards were far more to his liking" I want this in my biography too
Comment from : @dhv2852

bus canadians with our plastic money: -_-/b
Comment from : @jrcoolingheating3449

“To honest of an employment for him”brMe: same man I stole a lollipop at the age 4
Comment from : @lilapercyperson5742

love you vids bron money
Comment from : @ELITEDUCKY-eb4lp

Dutch are rich baby 🇳🇱🇳🇱🏦🏦🏦🏦
Comment from : @spookie1251

Being a prisoner and given a pardon and a prostitute as a wife just to move into another city sounds like a good dealbrAlthough I wonder was there ever any recorded story of what happened to those prisoners when they started living in that citybrMainly, seeing how they're essentially matched with a partner they have no romantic interest in and suddenly having to live with them and return to the working population
Comment from : @gazelle4204

John Law broke the law but the law never broke John Law and John Law became the law
Comment from : @jameskoch9567

"The problem was there wasn't any wealth coming out of Louisiana"brJohn Blunt: I fail to see the issue here
Comment from : @jameskoch9567

'Booied" My anger towards you is infathomable Sir IN-FATHOM-ABLE I SAY!!
Comment from : @seanmcdonald5859

1:26 uh, I don't know if that will work
Comment from : @bryceterry5302

@ 7:51 you've got to be kidding me The failure was due to the execution of his ideas about paper money Let me guess, Communism just hasn't been done right, it's all in the execution
Comment from : @gonebamboo4116

Meanwhile, in New France, money was hard to come by During winter, boats could not sail on the frozen St Lawrence River and trade stopped altogether It was hard to pay the soldiers and the workers in cold hard coins In 1685, the intendant of the time, Jacques de Meulles, has decided to deliver "IOUs" to pay the soldiers But there was no printing press in New France yet and good paper was rare However, everyone was playing cards So he wrote some amounts of money onto them, stamped a fleur-de-lys and signed his name The soldiers began to use the cards to pay the tradesmen in Québec City, which used them for their own purchases When the boats arrived in spring with new funds, everyone was able to get its money back The cards were even cut A full card was worth 4 livres (pound), half a card 2 livres and a quarter, 15 "sous" And thus was born "card money" the first paper currency in the Americas, five years before the one made in Massachussetts brbrOne note of interest, after the bankruptcy of John Law's bank, card money has been used in Louisiana in 1722
Comment from : @Xerxes2005

1:25 John LAW was apprehended by the LAW This had made him an outLAW
Comment from : @benjaminwilson1804

"got his sentence reduced to manslaughter so he was slapped with a fine and released" hahahaha, the good ol' times
Comment from : @alexc7367

Barry Lyndon?
Comment from : @tareqewaida8532

7:47 John Law: Oww!
Comment from : @heinrichkrull2523

ok i love your videos but calling the entire uk england is so annoying
Comment from : @rab7287

He is the literal meaning of genius Not my friend because he brought with him plastic cups in case of drinking time He was called the genius among my friends
Comment from : @ramisamman5674

R H db
Comment from : @chevancogamingandotherstuf4668

So you’re telling me that Law is the one who invented counting cards
Comment from : @marcthecanadian

Money is the value by which goods are exchanged but not for which goods goods are exchanged
Comment from : @kotellifors2106

" as we take the final step towards modern money, by getting off" If that were possible, I would have been a billionaire by the time I was 20
Comment from : @JosephFuller

but what ever happened to the bird that made a nest in his sweet beard?
Comment from : @caseygray2328

When you see no dutch memes brbrSad cheese noice
Comment from : @MaurikKets

The “duke of Arkansas”? wut?
Comment from : @samhouston1979

Pardon criminals to marry a prostitute and move to LouisianabrAnd thus Bourbon Street was born, and has been the same ever since
Comment from : @WindFireAllThatKindOfThing