Fiat money - "Money backed by men with guns"

@newman6434

4 жыл бұрын

unconstitutional and evil

@nolanmaxwell6879

4 жыл бұрын

Kevin Ohlsson wise man. 🇺🇸🏴󠁧󠁢󠁥󠁮󠁧󠁿

@joynelbonetdelgado4952

4 жыл бұрын

Best description lol

@dennismwangi3573

3 жыл бұрын

Agreed.

@Bangaly16kaba

3 жыл бұрын

And code in a computer

Great video. I learned something. Something that should be drilled into us in school.

@ramonsmediablog

3 жыл бұрын

Unfortunately schools don’t want to educate students. The main person in charge is federal government that tells school districts and states to teach what they want the students to be taught.

@fakenewz4434

3 жыл бұрын

@@ramonsmediablog They want to keep us dumb enough to work 9-5 as factory workers while they fill their pockets.

The dollar value literally depends on the reputation of the country. It's based on faith.

@georgereed2386

4 жыл бұрын

Faith, or gullibility?

@l0_0l45

4 жыл бұрын

@@georgereed2386 Unlike concepts in religion, money is a real thing that is backed by *_faith._* Money is a huge outlier in the category if things taken on faith. Pretty depressing thing.

@l0_0l45

3 жыл бұрын

@Michael Hemsley It is the largest _"legal"_ pyramid scheme.

@dineshmanna4485

3 жыл бұрын

Faith that is dieing and perishing as it is always used to profit for America capitalism and to weaponise it to take control not for good but for power wealth and distruction of others those who don't obey. I am dumping dollar we don't need it have it with world wide inflation.....

@beabibicini

Жыл бұрын

and confidence

You missed a huge point about gold and silver holding intrinsic value. You cannot really compare it to fiat currency like you did at the end of the video. You can't just "make" more gold like you can with fiat currency. It took a lot of hard work to get the gold out of the earth, refine it, and mint it into bars. Just something you should've included here in this video

@jarjarthestar

2 жыл бұрын

@@firebrand_vinay Yeah that's what I said, the government can just print more money and dilute the currency. It's impossible to do that with precious metals because you can't make them

@BaremetalBaron

2 жыл бұрын

@@jarjarthestar Right, exactly. If technology ever made it possible to create more precious metals (and do so cheaply and easily) it would render them useless as a currency. But we're not going to make such a breakthrough any time soon, thankfully.

@jarjarthestar

2 жыл бұрын

@@BaremetalBaron Gold has to be made atom by atom. So theoretically it can be made with a hadron collider but it would probably take you 100,000 years to make 1 gram. We'll be in flying cars and living on the moon before we can create gold. Gold and Silver is God's money

@BaremetalBaron

2 жыл бұрын

@@jarjarthestar No arguments here

@welcometotheinternet4105

2 жыл бұрын

@@jarjarthestar They can mine more gold though, which is the same thing as essentially printing it. There's a reason why Spain in the 1500s came for precious metals in South America

The main difference is that commodity money (such as during the bretton woods system) created discipline on countries and states to act with scarce resources effectively. When the US ran deficits to finance war, countries started doubting that the US had enough dollars in gold reserves and started exchanging their currency into physical gold. This mean that you cant just run deficits in the commodity currency system, but you can run as much deficit as you want in the fiat currency system (look at US and Japan, the strong countries....)

When someone else controls the buying power of your Labor... *THAT IS THEFT*

big mistake the guy making this video is making is that he says fiat currency and silver/gold are basically the same. the big difference is that currency can be made at any time thus reducing its value. in order to get more gold or silver you need to mine it which costs currency/resources so you cant dilute the value of that gold or silver because the metal represents what it cost to mine it.

@Ali-gh7rj

4 жыл бұрын

Crypto is better, to mine crypto you need to use computing power, also even if you had the best computer in the world, the difficulty would increase with it

@malayafreespirit1905

4 жыл бұрын

"currency can be made any time thus reducing its value". the same can be made to gold standard money;u can just print it, and the value will reduce since the paper cert supply increase but the gold reserve didnt.

@Ali-gh7rj

4 жыл бұрын

Malaya FreeSpirit That’s the thing about gold standard, you need to be trustworthy to not print as much money as there is gold, with bitcoin, you can’t generate more supply because you need to solve a problem first, which is analogous to mining for gold

@malayafreespirit1905

4 жыл бұрын

@@Ali-gh7rj but bitcoin or any crypto doesnt connect to real world economic. it just increase it supply according to algorithm. u can have an economic boom and shortage of bitcoin which will increase it value. or u can have economic disaster and oversupply of bitcoin which will reduce it value which is why bitcoin value change like wild horse. it is not stable. maybe a crypto currency that is backed by nation gdp is the best way forward instead of relying on algorithm.

@Ali-gh7rj

4 жыл бұрын

Malaya FreeSpirit Crypto has many problems yes, one being if it does get used by everyone in world, it will take time to verify each transactions. I think we should go back to gold standard and abolish federal reserve for now until we figure out solution

I used to have a $10 silver certificate bill when I was a teenager. I don't know whatever happened to it.

This made me make a thorough research on stocks more and have been investing in ETFs and index funds, then other financial commodities, I am 85% into my $400k goal for the year, I want to buy a house buy Christmas to celebrate a great turnaround in my life.

@patiencemartez907

3 жыл бұрын

Hello, how can I get familiar with this I would like to know how I can get in, maybe talk to an expert. Or any videos recommendation.

@americandreamer828

3 жыл бұрын

You can look up Mr Eddy Bruke an Executive trade expert to get familiar and acquainted with how it works, he’s the best in his field with excellent expertise. Eddybruke .info .....

@fidelty2427

3 жыл бұрын

Should've invested in gamestop

@xaviersales92

3 жыл бұрын

@@americandreamer828 I’ve just started investing and started on ETFs. How did you go with buying your house?

@americandreamer828

3 жыл бұрын

Eddybruke(.) info

No, gold and silver are not "just the same" as fiat money in that they're only valuable because they're used for trading. Silver has a bajillion and one uses. It has uses in manufacturing, industry, chemistry, even some alleged medicinal uses. Gold isn't just used for jewelry, it is, as you said, used in electronics and other applications. The thing that also retains their value is supply and demand. You can print more fiat money for almost nothing. It takes a *lot* of work to increase the gold and silver supply through mining. This means you can't easily devalue the currency by inflating the monetary supply.

@learnersseries1167

2 жыл бұрын

absolutely 💗

@amirbland7836

2 жыл бұрын

If we are talking strictly about trading gold doesn’t have any value just like money

@BaremetalBaron

2 жыл бұрын

@@amirbland7836 That's nonsense on so many levels. 1. You can't print gold, thus driving the value per ounce through the floor the way you can with paper money. 2. That's like saying eggs have no value "when talking strictly about trading". People eat eggs. It's why they command a price at all. And if you're trading them around as currency, part of the reason is that eventually they end up in the hands of someone who wants them for a purpose *other* than simply to trade. Indeed, commodity money (which is most money throughout history and is the natural origin of money), whether that be tobacco, gold, or even coffee beans, derives its value from the fact that it is a commodity first. That's where it's initial trading value comes from. People started trading gold specifically because certain people placed a high premium on it for other purposes, and if everyone's trading it around and so it's highly liquid, it means everyone can get the the things they need and the people who have actual use for gold can get gold when they need it.

@davidreichert9392

2 жыл бұрын

You might be right if gold and silver were valued only for their intrinsic economic value as you described, but since they are valued way above that amount, based on the same principle of "it's worth this much because people think it's worth this much", it is the same as fiat currency.

@BaremetalBaron

2 жыл бұрын

@@davidreichert9392 Yes, gold is valued far above what it would be if we didn't use it as currency. But again: "The thing that also retains their value is supply and demand." You can't just inflate the monetary base with gold the way you can with fiat. With fiat you can literally just change a number in a database and magically there are more dollars. You can't just easily magic up more gold in the same way. That makes them completely different as the basis for a currency.

there's a part of the equation you're not taking into account and that is money supply gold has a roughly finite Supply same thing with silver and that gives it a store of value that when you continuously print money into existence it loses its value and the more you have of it eventually it will crash just as all currencies that you can just print into existence and the rich get richer every time the money supply expands the bankers and the corporations and the poor suffer the pain of higher prices until the money does not work anymore it happened before in history it will happen again

@Naderelbarbari

5 жыл бұрын

what was the previous case study? so I can study it! thanks in advance

@TimelessViBe

4 жыл бұрын

So what can one do to avoid that

@nolanmaxwell6879

4 жыл бұрын

Every fiat currency in history has eventually failed. 😁😁🏴󠁧󠁢󠁥󠁮󠁧󠁿🇺🇸

@yaoiboi60

3 жыл бұрын

yeah because that's 1) BS and 2) Libertarian ideological slant

@randomz8065

3 жыл бұрын

@@nolanmaxwell6879 correct

Gold was, is and will probably always be money of *KINGS*

@yaoiboi60

3 жыл бұрын

and it's the age of the republic baby

A detailed overview with real examples, love it! Do you think we should anticipate the return of representative money? Or would the society switch to digital unregulated currencies?

Silver and gold are just arbitrary metals that have been traditionally used as currency in different cultures. They just as easily could have used iron and palladium. However, you can't just print silver and gold. It anchors the currency to something physical and finite.

@Sophistry0001

8 жыл бұрын

+mike Rodriguez wouldn't that just drive the value up?

@vincentwong1127

9 ай бұрын

You can't print silver and gold, but you can mine them

@Sophistry0001

9 ай бұрын

@@vincentwong1127 correct which is still based on labor and a finite resource. Unlike fiat paper currency or even digital currency

The Fiat Dollar is an IOU. The older dollars didn't have the name Federal Reserve on it. It just read United States note/Currency or Silver Certificate.

@Rampart.X

5 ай бұрын

All currencies that cannot be eaten are IOUs. Nothing has an intrinsic promise of exchange.

Bring Back Gold and Silver..

@pcapling

4 жыл бұрын

Sam Sam problem with the gold standard is that other countries need to pay us in gold. The stockpiling and movement is way too slow. But if gold only came with a Star Trek transporter button .... oh wait, Bitcoin!

@thehelghastgamer7036

4 жыл бұрын

ok, if you wanna buy a Pepsi, do you carry one tenth of a gram of gold or something? ,

@ideclaredwaronyourfrenchas4123

4 жыл бұрын

The Helghast Gamer paper money still exist but upon the backing by real gold upon local purchases

@crystalc1ear

4 жыл бұрын

Bring back tea and barley

@hvachero1

3 жыл бұрын

Your bitcoin is still on the blockchain even in your "own posession" meaning it was never in your possession. You never had it you just have a stake at it...

Fiat money is debt, it has negative value.

@milothemalinoismethod

6 жыл бұрын

Zenn Exile that is why smart people put it into a hedge asset

@_.Leo_.

4 жыл бұрын

@@milothemalinoismethod Lol. Because hedging is backed by substance.

@jesselee34

4 жыл бұрын

Hi Zenn, In a central-bank system like the system in the US, money is indeed debt. But debt does not have negative value. When someone buys a loan, they are anticipating a net positive gain in value. The reason why money is debt in modern economies is because the most efficient way to control inflation and deflation of a large currency is by manipulating the cost of borrowing it. Or I should say, "was" the most efficient way to control inflation. Many believe, cryptocurrencies is a more efficient, and just, solution.

@_.Leo_.

3 жыл бұрын

@e M Can you cite the "hedging is against the law" statute? Since you don't know what you're yammering about (like the rest of your dumpster generation), please google it, look it up, ask Reddit, and get back to me on the answer someone else feeds you. I'll be here lurking in wait.

@fidelty2427

3 жыл бұрын

@@jesselee34debt is negative. that's why we have economic cycles. dont know what planet you're on.

The US dollar gained status as a reserve currency because it is the Petrodollar (used globally to purchase oil), and because of America`s perceived economic strength in modern history. The DEMAND for a currency (thus its value) is dependent upon other nations wanting to purchase that countries goods or use that currency for purchases in general (such as oil). Likewise China and Japan purchasing so many US govt bonds because they believed the US govt able to pay its debts. That view is shifting.

Its more risky holding cash due to inflation

One important thing not mentioned. Every piece of gold or silver mined and minted means = more value per overground piece. Every dollar printed and brought into existence = currency and every other dollar out there or in your pocket is valued less. Means less purchasing power.

@malayafreespirit1905

4 жыл бұрын

nope, everything is subject to supply & demand. spanish empire once facing economic crisis due to inflation. what causes it due to oversupply of gold & silver from the new world mine just conquer. those dollar can actually increase in value. it just the policy maker want to have a bit inflation so people will spend money instead of hoarding it. u can actually slowly print money in comparison to economic growth and it will causes money supply shortage and deflation=increase value of money

@Rampart.X

5 ай бұрын

Printing money is appropriate for a growing economy. If there is no printing, money goes up in real value and that is called deflation - much worse than inflation. My preferred form of currency is one backed by Brent Crude, or a unit of energy. The value would be stable during printing provided oil/energy reserves exist.

Fiat currency is scam

@HeyShaded

5 жыл бұрын

recession soon

@MuhammadIbrahim-hl9bl

5 жыл бұрын

INDEED!! Goes without saying...

@dennisjohnston5365

5 жыл бұрын

You are right. And because it’s a scam it’s is worthless. So you should send all your worthless fiat bills to me so I can properly dispose of them

@beyondover8425

5 жыл бұрын

I can still buy a coke with it

@jesselee34

4 жыл бұрын

@@dennisjohnston5365 Sir, you've made my day.

In Black's Law Dictionary 5th edition, the term "real money" is defined as metallic coins, made of gold or silver.

@yaoiboi60

3 жыл бұрын

in normal dictionnaries, no

Well, I'd have to disagree to the statement you made that "it's not a huge leap between the commodity backed money and fiat money". As we have all seen in the past 50 years it's actually game changing. Due to the fact that the currency not being backed by anything tangible, the central banks can now issue currency at their will. Not being limited by anything real is generating inflation almost by definition.

As an asian, I testify asian values gold

@logat1847

4 жыл бұрын

Yes virtually every race and culture on earth does. It’s beautiful, it came from the heavens via asteroids

Taxation and the U.S. Governments monopoly on the production of Dollars is what gives the currency its Value, you have to pay your Taxes in Dollars which only come from one place.

thank you very much. I learned a lot. like always, you explained the concepts very clearly and understandable.

good work, man!

Thanks for this nice explanation of commodity money! Now I got it. :)

Silver and Gold is valued as money because of their durability as well. They are basically indestructible, so it is the best form of a store of value. This is the best form of trade.

@kayondothomas7343

5 жыл бұрын

Yeah...until we actually discover vast gold reserves in the asteroid belt, then gold will also suffer inflation

@luckylui3282

4 жыл бұрын

Durability is simply a property that makes it useful for the purpose of coinage. Imagine pointing out a basketball is useful due to the fact it bounces. Also, omits historical reference in terms of available technologies and that "silver" and "gold" coinage was almost always an alloy, often where gold/silver comprised but a small percentage of the material. Finally the unit not the material was always the standard, yet another lie of omission. All are examples of the mostly BS commodity money theory and common tactics used by shills. Find me a commodity money proponent who is not holding some bags in the commodity they promote. All of you should be shipped to island where you can "sell" each other your useless commodities and fables. Good luck creating any real value (in a monetary context) without human energy.

@Happy-go-luckyTV

Жыл бұрын

​@@luckylui3282 Durability makes it useful for accounting. Pointing out that a basketball is useful because it bounces is a strawman's argument. A basketball manufacturer expends economic energy to produce basketballs. The basketball's usefulness is reflected by its price with respect to supply and demand. If people were shipped to an island with gold they would function just fine. The gold is simply a tool that is used as an accounting system. Within the local ecosystem prices of labor increase, or the price of the gold reduces, depending on how you want to look at it. The local market auto corrects based off the supply and demand. Money is an abstraction of economic energy. Perhaps in a few years you visit the island and you notice that fish is worth an enormous amount of gold compared to your local market. So you decide to take advantage of that arbitrage by buying fish at your local market and sell it at the island for a ridiculous amount of gold but for cheaper than what they sell their fish for. You do this over a period of time so the island is exporting gold and importing fish. The island's supply of gold starts to decrease and goes to you. The island's market dynamics shifts. The island's gold supply contracts and the fish supply expands. The island's local fishers expend time and effort to fish. Interaction with the local market allows everyone to communicate what their fish is worth; or any other commodities like fruits.

thank you so much! very helpfull video :-)

Another difference is that gold and silver are resources that can not be produced, you cannot make more than the ammount that exists meanwhile paper money can be produced almost infinetely. This gives enormous power to those who have the right to print money as they control who gets to have more or less money and how valuable the money will become. I think we live in dangerous times because of that

@Izmoa

6 ай бұрын

Exactly any country who wants to trade without the US dollar will be seen as an enemy of the US. Because they threaten their global economic control. Also why france still has such a strong grip on its former colonies in west africa, because they use francs as their currency. Its economic enslavement.

Gold and silver coinage is also called “sound” or “lawful” money which has intrinsic value. The coinage is the asset because it has weights and measures. We used gold and silver because they have 3 necessary elements: Store of Value, a Medium of Exchange and a Unit of Account. When the currency was redeemable the paper was a receipt. In 1963 when Kennedy wrote executive order 11110, he delegated the responsibility of removing silver out of circulation to the Secretary of the Treasury of the IMF (The Keeper of the Fund [Public Law]… not the Treasurer of the United States). That is why currency after 1964 is not redeemable in silver and the language was changed on the currency to reflect that fact. All the currency today is credit and not money. Note, it states it is legal “tender”, not money. It is illegal for a bank to loan you money. They loan you credit. When you make a deposit into a bank you are loaning your credit (currency) to the bank and if you make a withdrawal you are not calling in the loan. Recently, companies have wanted to not take currency and only deal with credit cards or some digital form. By law, if you receive a product or service the company has to accept payment with currency if you choose to pay the debt that way or you are not obligated if you tried to pay with legal tender and they refused. Finally, the law states that the U.S. citizen is responsible for the debt of the dollar, which means all those entitlement programs we borrowed credit and insured the national debt… you owe the payment. Good luck.

The bogus fiat money is not the same as real money( gold & silver), because the value of real money is within the money itself, unlike fake money that has its value in the hands of few greedy men in New York.

@Ali-gh7rj

4 жыл бұрын

I don’t agree with gold backed money but I agree that each sovereign government should print their own money not some scummy federal reserve

@AbdulAzizIsmail-rj3er

Ай бұрын

Hi❤

Well broken down and illustrated beautifully

Great explanation thx

This video was made on my birthday.

@mennowamelink5859

7 жыл бұрын

Annie Jin you want a sticker ?

By the way your explanation pretty good about fiat money thanks to share it🤗

Taxation power is what ultimately gives the government the ability to print fiat money. It creates artificial demand for the government’s debt, which is collected and used to pay back that very same debt. Ever wonder why income taxes and the fed were established at virtually the same time?

Would you get a fiat car? Might explain the depreciation on them...

Shouldn't note read LAWFUL TENDER instead of "LEGAL TENDER" just like the $10,000 bill ...on demand as authorized by LAW? Doesn't our Constitution recognize lawful money as silver and gold anyway?

Commodity backed money limits government spending and stabilizes a country's currency.

Good video👍

Thumbs up if researching on bitcoin made you want to learn this.

The danger of Fiat money is that it is created just as a mint wants, unlike silver and gold. This opens up a possibility to contol the money, and, ultimately, ourselves. In my opinion.

thank you so much!

Every countrys notes are promissory note

So I recently found some money that was printed before the fiat system was in place, in 1971 . Does that make these bills worth more?

Thanks for the explanation... wonderful presentation

Thanks mate

What makes the dollar more valuable then other currencies, for example pund or euros?

Umm. Federal reserve notes are backed in labor . Or rather by loans with labor or the tax value of labor as collateral .

My bad, bro.. Thank you.

How about seeds as a commodity money.. think about it grows from trees and easy to carry.. nutritious

Wait, hang on. I know this is an old video but did you just explain currency came about b/c people didn't want to haul around the coinage? That it was just a contract on paper saying "Somewhere I have some Morgan Dollars you can exchange for this"? I never understood this until now!

Gold works as currency because it doesn’t tarnish and is stable. Spoilage therefore wouldn’t be an issue with storing funds.

The difference is you CAN'T PRINT no gold or silver thought

@kujjitafari8509

3 ай бұрын

They probably can secretly with 3D printers...

Best explanation I've seen on this subject. Thanks!

Didn't expect to hear 3b1b here!

I dislike it when people say, “Money only has value because we all believe that it does,” because that simply is not true. You can believe anything you want (that money has value or that it does not have value), but that doesn’t change the fact that it has real value that everyone understands and agrees on-and the amount of money that each bill is worth is printed in ink on it’s pretty little face (well, technically-speaking, it’s printed on all 8 corners of its double-sided, horizontally-shaped body if we’re talking about U.S. currency) 😁

I want the Commodity money system back.

Govt: here's a dollar bill People: okay... But what is the guarantee that it is worth anything? Govt: tRusT mE brO..

Although the paper doesn’t specify the weight. The government could still change a $1 silver coin to only be 0.5g silver from a previous 50g coin for an extreme example.

I'd like to see a currency backed by energy - eg instead of a silver or fiat dollar note, you have a one litre Brent Crude Oil note.

fiat money is valuable because the amount or value on the money/entry represents peoples promised labour and production

@jaydupree418

3 жыл бұрын

Still.. No intrinsic value besides the belief of being able to exchange it for a good or service.

@AnirudhGiri

3 жыл бұрын

@@jaydupree418 But gold doesn't have any intrinsic value either. You can't eat it, drink it or use it in any meaningful way. If you are stuck in a desert island with no food and water, but you have lots of gold, are you really rich? Fiat money is the closest to "intrinsic value" you can get other than actually backing your currency with food or water which would come with its own set of problems

@gonzo5738

3 жыл бұрын

What if the government prints double the amount in existence every year?

The gold n silver costs money to get and coin and is respected longer than fiat

It’s so much more to that story. Then you explained.

Money is valuable❤️

Is the voice over done by 3 blue and 3 brown ?

The note is not money. The note is a score for a game that is counterfeited. A debt note is a claim on the future. A silver dollar is a claim on the past I can hold, same with gold. Gold and silver is a precious metal, a claim on the past. The debt note is a claim on future labor that may be repudiated. You are very confused about what money is.

I still preffer the commodity money...i can turn it in for gold or silver when the dollars hits the floor

At 0:40, you can easily see the date on the $1 silver certificate is "SERIES OF 1928", underneath "Washington, D.C." and the $10,000 gold certificate is "SERIES OF 1934". I expected something like 1913, because that's when the Fed was founded. so, these might not actually represent what "the very first US dollars looked like" (stated at 0:32). --> Guess I'm easily disappointed.

Look at the Constitution, Article I, Section 10, first paragraph. It says " No State shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts". That defines gold and silver as real money, and anything else is counterfiet, and unconstitutional. The govenors of all the States are sworn to uphold the Constitution, and are responsible for enforcing this requirement. Why don't we make them do it? Because most people in the USA, and around the world, are ignorant about how an honest money system is suppose to work.

Is this 3Blue1Brown?

@waelwm4331

5 жыл бұрын

He used to work on KA

@panteraforever9411

4 жыл бұрын

WAWZERS! YER OBSERVANT :)

Demand!!!

But!!! Think about when we went off of the gold standard towards fiat money...and what was the result afterwards...as a kid...I heard the word inflation.....ALOT!!! to simply print more money because you want to fund a war effort and can do so because the standard has changed didn't mean that we have "skirted" around a consequence...We place value upon many things...I think Pokemon is childs play...my adult son does not...And pokemon had its day monetarily....If you ever you ever wanted to paint a picture of instability(which doesn't mean it will always be bad or difficult) having changed from the gold standard to the fiat system...is that painting.

@Ali-gh7rj

4 жыл бұрын

Best thing to do is not giving corporations power like the federal reserve and companies in charge of military industrial complex, also big pharma

@chaparra71

3 жыл бұрын

@Daniel Ludlow. EXACTLY!!!

Gold and Silver are not perishable like wheat and oranges, and doesn't become seasonally abundant or scarce. Therefor is a good medium to set the price of other consumables that should change price based on supply/demand and abundance/scarcity.

I dont understand: allowing banks to create money out of thin air when creating loans, how well is this controlled by the central banks and how? Central banks are not government organisations but are private institutions in many countries: no problem there?

@vitalii9763

3 жыл бұрын

Agree

What if I wanted a currency backed by a resource like Tar/Gasoline?

@johnnyblack2652

6 жыл бұрын

This could be a good idea, holy shit.

@andrewzheng4759

4 жыл бұрын

Can you imagine the absurd amount of gasoline the U.S. Treasury would need to stockpile to back up the USD?

Fiat is currency and gold & silver is money.

@Ali-gh7rj

4 жыл бұрын

Problem with fiat is giving control of our currency to the federal reserve and letting corrupt corporations be in power. Best thing to do is get rid of military industrial complex, central bank, big pharma. The world needs to use bitcoin because no ones owned bitcoin expect the people

Read the first paragraph, Article one, Section 10, US Constitution. It is the supreme law of this land.

The recession of 2008 foreign investors played a part in stock market recovery. As the market fell by 40%, markets around the world started falling, then foreign investors started buying into the American stock market, hundreds of billions of dollars. Expert Stock market specialist, didn't know what was happening! They asked a foreign born stock market specialist, he said, "foreigners trust America's financial system, it respects property and rule of Law!" Almost 2 trillion dollars poured into the stock market! (Trust) Like NATO and EU. trust and shared values, like supporting Ukrainians!

We all work for digital cotton... I thought we already won the war against slavery?!?!?

@ladyfay7777

4 жыл бұрын

🤔💡

@logat1847

4 жыл бұрын

Very smart way to put it. Digital cotton

Commodity > Representative > Fiat

Uh... how did this video miss the most important point of fiat money - that it is BORROWED from the central bank? The borrower at some later time has to get it back and repay his debt to the bank - this is the underpinning of its value more than its status as legal tender. So you can trust in its value because somebody else needs it. It is not just some shared illusion.

“Fiat money” recession/depression money.

Well its still different because gold is rare and paper is abundant. So gold has intrinsic value.

The problem with gold and silver is hard to find, hard to produce and its limited...

The main idea is that Fiat money is much cheaper to print than commodity money, because commodity requires mining medals. Gold commodity would require excessive amounts of gold, and so fiat money is a quicker and cheaper approach because it's derived from trees. However, I think printing fiat money is, in a sense, a form of cheat because that money is not supported by any labor or work. The value of money is meant to exist through a relationship between labor and payment; therefore, simply printing money and declaring it legal makes it "fiat." Fiat, in other words, means that the money was falsely and ilegaly added to the monetary cycle of labor and payment. Money is only supposed to cycle via workers getting paid, people buying products, or investing in assets. Money is not supposed to be secretly printed and distributed. I don't know why the author of this video struggled so much to explain a simple concept. He almost made it harder to understand. By the way, the gold coin with the Native American guy with the printed words, "Liberty" is highly derogative. They didn't experience a spec of liberty during the years of Thomas Jefferson

Money has value because you believe it does.

why do i recognize his voice by his first words? 😂

A federal reserve note which is neither federal nor does it have any reserve

@kujjitafari8509

3 ай бұрын

A Complete Oxymoron, like a lot of things.

Wait-so, banks fail, government is bankrupt and can't back up their promise to pay, where are we then? What can fiat money be traded for if it has no value?

@danomaly1176

8 жыл бұрын

Great, now I'm panicking and want to start a commune and start back up with the bartering system.. I have beads.. beads are valuable to some.. Clothes, shoes ect..

@milothemalinoismethod

6 жыл бұрын

It's been that way since the 70s and now you are going to panic?

All fiat money only last 90 years .

So you are just gonna ignore the teensy little part that gold derives its value from scarcity whereas fiat currencies can just be printed until they become worthless?

The value of gold is subject to our opinion like anything else. Basing it on gold is exactly as arbitrary as fiat currency.

Americans used to pay other countries/civilizations in silver because they valued it more than gold. I think this was Native Americans and South Americans

Good video but doesn't stress the point enough that real money has intrinsic value, which cannot be created out of thin air by order of some government or person.

@luckylui3282

4 жыл бұрын

In a monetary context "intrinsic value" = meaningless rhetoric. Name a single thing that has value (in a monetary context) that has not been produced by humans in some manner. Now ask yourself what "backs" money created out of thin air? This barely scratches the surface. The system has flaws but is also brilliant in some ways but for certain the idea of money as a scarce thing of value in and of itself is patently absurd (given some thought) and serves no one but the money trust and/or ruling class. Are you in the money trust?

Fiat, had this word any expanded form like fabrico italian automobbile turin(Fiat) Thank you Thank you KZread

The dollar was untethered from gold in 1971 I believe.

Bullets and guns are the ultimate form of currency, next to food