The Real Value of Currency

The Real Value of Currency


On this planet, there exists a constellation. A constellation that protects you… safeguards your home… and feeds your family. It is known as the Eurion Constellation. You can see this constellation almost everywhere
on Earth, regardless of the time of year, or whether it is day or night. But you won’t find this constellation on
any star chart or in any astrologer’s book. Because this constellation has nothing to
do with the cosmos. I just really wanted to use that stock footage
of stars and do a cool voiceover for the intro… Yeah. The Eurion Constellation is a real thing and
I’ll get back to it in a moment, but this video is about currency. So what is currency? First and foremost, it’s a unit of exchange. That means you use it to get other stuff. Otherwise you’d be using chickens and I
dunno, wood? It’s portable. So unlike chickens and… wood, you can put
a lot of it in your pockets or wallet or bra or whatever… and it’s durable so it’s
unlikely to get damaged and lose value while in your pockets or wallet or bra. It also has to be divisible so that you can
pay exactly what is owed without rounding up and overpaying. First of probably many side notes… in order
to be divisible, they come in different denominations, the same word that used for churches and while
people do worship the stuff that’s pretty much where the similarities end. In both the Euro and the Dollar there are
seven paper notes. The Euro calls them banknotes and they are
the 5, 10, 20, 50, 100, 200, and 500. The Dollar calls them federal reserve notes
and there is the 1, 2 – that’s right, the 2, it’s not some special collector’s
item like your grandma thinks, they make new ones all the time – 5, 10, 20, 50, and 100. That’s it, there’s nothing higher than
that anymore. We used to have a 100,000 dollar bill that
was discontinued in 1934. It was only ever used to transfer money between
banks, because back in the day the only way to move large amounts of money between banks
was to put it in a safe on the back of a horse and… good luck! When it comes to coins, the Euro has eight. The 2 euro, 1 euro, 50 cent, 20 cent, 10 cent,
5 cent, 2 cent and 1 cent. Many countries either have or will soon phase
out their 1 and 2 cent pieces because… well I’ll get to that in a second. The dollar has the dollar coin, half dollar,
quarter, dime, nickel, and penny – the bane of many a youtuber. The American penny is made of copper covered
zinc, and if you melted it down and sold the metals, you would make 1.5 cents. The Euro 1, 2, and 5 cents are all made of
copper covered steel and depending on the country costs around 5.5 cents to make, which
is why many countries have or are trying to ditch the 1 and 2 and just keep the 5 cent. The American nickel isn’t doing too well
either, and costs 6.3 cents to make. So when it comes to the lower denominations
for almost all currencies, they cost more to make than they have in value. Which brings us to the last definition of
currency, and one which will make many economists angry at me for saying, it is a store of value. The reason that will make economists angry
is that they will say money is a store of value, and currency is just a representation
of value. I’ll get to why I personally disagree with
that distinction later, but back in the day, our money, if it wasn’t just flat out made
of gold or silver, at least had a real value of gold or silver attached to it. In the United States we started off on the
Silver Standard, a dollar being defined as 24.056g of Silver. In 1900, we switched to the Gold Standard,
redefining the dollar as 1.505g of gold. You could walk into a bank and get that equal
value in gold in exchange it even said so on the dollar. But that really kind of holds the currency
back, you aren’t going to have many more dollars in circulation unless you invade somewhere
and come across a bunch of new gold. So combined with the fact that many European
countries had already done so, in 1971 the United States likewise abandoned the Gold
Standard and let the dollar become free-floating Fiat Currency, which just means that its value
is backed by the government which issued it and nothing else. So how much is a dollar worth? It’s not worth anything, it’s worth a
dollar. It’s worth slightly more than a bag of skittles
or like a third of a gallon of gas. It’s not pegged to anything like gold or
silver, but you can still go buy gold and silver with your money or currency which… don’t… but again I’ll get to why I think
that later. But since its value is backed by the government
it is also protected by the government. In order to protect that value, you have to
protect it against counterfeit. Now I’m not going to go through every anti
counterfeiting measure like the little strip or the watermark or whatever, because everyone
knows about those and they’re boring. You don’t come here because you wanna be
told old stuff, you wanna know new stuff. So let’s talk about some that you probably
don’t know. Here’s a favorite among lots of people who
like to ruin movies. What’s wrong with this scene? Absolutely nothing is wrong with this scene
actually. I don’t know where this rumor came about
money burns some different color, but it doesn’t. Defacing or destroying US currency is illegal,
and since I’d rather get in trouble for copyright than for burning money, here’s
someone else’s video where they burn money. See? It burns the normal fire color. There’s nothing special about it, it’s
made of cotton and linen, it actually isn’t even paper. But it’s again illegal for people to counterfeit
money, even in the movies. So whenever you see money in a movie, it’s
real, it has to be, by law. I mean, they’re not going to burn money
but whenever you see it in a briefcase or whatever, that’s real money, at least the
top layer anyway. That blew my mind when I found that out. But here’s another one, in my intro you
saw me put a dollar bill in my scanner. You shouldn’t do that, or any of the other
things in my intros, but on top of that, you CAN’T do it. Your scanner or copy machine simply won’t
do it. Because of the Eurion Constellation. It was introduced in 1996 and it’s on almost
every paper currency around the world. Where is it on the 20? Oh, it’s all of the zeros from those random
20s everywhere. Here it is on the pound, and the euro… and
you probably never even noticed it. The moment your scanner or copier detects
that constellation, it will stop. That’s a legally required to be hardwired
into the machine, you simply can’t do it. How cool is that?! So now let’s talk about how different currencies
work together. I know you just rolled your eyes, I promise
it’s not as difficult as you think or as complicated as certain people want you to
believe. To start off, let’s use a made up currency,
let’s call it the Ferret. And you want to go on vacation to some lame
developing country, once you get there, you have to convert your money into the local
currency, the Turtle. Right now, one Ferret is worth… I dunno… 360 Turtles. It’s like pesos okay, it’s a really low
value currency. But, now that you have brought more value
into the country, each individual turtle is worth more. So the next person who wants to come visit
will trade their one Ferret for 357 Turtles. Then someone from here goes back and it costs
355 Turtles for 1 Ferret, which devalues the Turtle *against the* Ferret. So for the next person it takes 356 et cetera
et cetera. But this is what those financial experts on
the news mean when they say the dollar lost value against the euro today. They mean that value has transferred between
two currencies, making one more valuable or “stronger” than the other. Which is why it’s possible to lose value
against one currency, but still gain value against another. But what do they mean when they say that China
is a currency manipulator? Well now let’s take a look at the real world. As you should know, the United States has
a trade deficit with China, which means that we send money to China in exchange for goods,
but get very little back. So we are introducing more value into China. Remember what happened when we exchanged a
Ferret for a Turtle? The value of the Turtle went up against the
Ferret. So the value of the… Yoo-wan? Juan? Yuan should go up with each transaction. But… it doesn’t. China keeps the value of their currency artificially
low to encourage more trade with China. China. I’m sorry… I don’t know what it is about the way he
says it, but that’s just funny. Actually I’m not sorry, I don’t take any
of that back. Anyway, this could all be avoided if we just
had some sort of universal currency, right? There’d be no more exchange rates or confusion,
it would just be simple. There’s actually no catch here I kinda do
mean that. Prime example is the Euro. The Euro is the universal currency of an entire
continent. When I was a kid there were francs, deutschmarks…
francs again… kroners? There were a lot of currencies is what I’m
saying. But they all standardized and converted to
the Euro in 2002. That is the best practical example of a universal
currency today, and by 2023 the African continent is set to adopt their own universal currency
called the Afro. I really, really wish I was making that up,
I mean what a horrible name… what’s next, the Amero? I was… kind of kidding. But that one’s pretty unlikely because people
love themselves some dollars. Many currencies around the world, instead
of pegging their value to gold or silver, peg it to the dollar or the euro, or other
top shelf currencies, because they are relatively stable. But what about those electronic universal
currencies, like bitcoin? How does that work? Just like every other currency. Every time you buy bitcoins, you are increasing
the value of all bitcoins. When bitcoin first started in 2009, it was
basically worthless. In March 2010, someone tried to sell 10,000
BTC for $50, and nobody bought it. A month later, 1 BTC was valued at 0.003 dollars. That’s a third of a penny. Today? Each bitcoin is worth $2,669. Which means if you could go back in time and
buy that guy’s 10,000 for 50 bucks, you’d now be sitting on well over 26 million. The only real difference between bitcoin and
other currencies is that it exists digitally rather than physically. It’s worth noting that the vast majority
of “real” currencies like dollars and euros also only exist digitally but that’s
a different story for a different time. You can’t go into a bank and get bitcoin
banknotes. It only exists in the ether. So how does it work? First, you need what they call a wallet, again,
it’s electronic… basically a fancy online bank account. Then, you have to buy bitcoin from someone. You are exchanging your dollars for bitcoins,
just like you would any other currency. So now, they can go take your dollars and
spend them wherever, whereas you can really only use your bitcoins at shady online stores
and dark web services, at least for now. Every time there is a bitcoin transaction,
you are announcing to the secure bitcoin network all of the information regarding that trade. Which is then kept on several decentralized
ledgers, which are then combined to make the main ledger. I know that sounds complicated, but it’s
really not though. There’s no central authority like a government
or a bank, the people who keep these ledgers or “blockchains” are just other bitcoin
users, known as miners. Every time a user’s ledger is added to the
main ledger, that user is rewarded with 12.5 bitcoins. So… a lot of money. Which is why people volunteer their computing
power to try and mine bitcoins. I wouldn’t bother though, because of computing
power required to work the cryptography is more than most of us can afford. The cryptography is hella complicated, and
while I did take a few classes in crypto because I thought that’s what I wanted to do in
the army I… *I don’t have time to explain why*. Anyway, every time several hundred thousand
ledgers are added, the reward gets cut in half, it started at 50 bitcoins and the last
whole bitcoin reward will likely be mined in the year 2140, and there is a fixed amount
of bitcoins in existence, unlike other currencies. But just like other fiat currencies, bitcoin
only has value because people think it has value. If people didn’t want to accept bitcoins
as payment and people didn’t want to exchange their other currency for bitcoins, they would
essentially become worthless. Or, since there are no physical bitcoins,
if there happened to be a solar flare that wiped out all electronics… or the zombie
apocalypse were to occur. In that case though, dollars and euros would
probably become pretty worthless too. So what would the currency be if society collapsed? Many people might say gold and silver. Because unlike all those fake fiat currencies,
gold and silver is real money with intrinsic value. Is it though? And does it? Aside from some very recent electronic and
space flight applications, gold and silver is pretty intrinsically worthless. For well over 99% of human history, gold and
silver was only valuable for jewelry because it was shiny. It’s only valuable because it’s nice to
look at and so people think it’s valuable. Just like any other currency really. But that won’t stop people from fear mongering
you into thinking the dollar will collapse at any moment and they you should invest in
gold and silver… by buying it from them. But they won’t actually send you the gold
or silver because that would be crazy expensive and insurance blah blah, no, instead, they’ll
send you a certificate saying that they are holding onto some gold in your name. Definitely nothing shady about that, I’m
sure that gold will come in real handy when the bombs fall. Just like bottlecaps. Oh g… okay, we probably all saw this coming
so… go on. You know my main problem with bottlecaps? Bottlecaps aren’t rare enough to be a currency
and they’re way too easy to counterfeit. One of the missions in New Vegas is to shut
down a bottling facility that’s being used to counterfeit bottle caps, but is it really
counterfeiting if they’re also real bottlecaps? Not only that but bottlecaps way 2.2 grams
apiece, there are some items in the game that cost 20,000 caps, you know how much that weighs? I do because I did the math. 97 pounds! Oh yeah sure, could you just head on down
to the grocery store for me? Off you pop! Not only that but old school pre-war money
still exists in the game, and it still has value!? Why use bottlecaps?! K I’m done. Okay so really though, what would the currency
be if everything fell apart? If we’re being honest about it, bullets,
food, and knowledge. *knowledge* Take a look at the Walking Dead…
or don’t because it’s getting kind of old… and I’m just gonna tell you about
it anyway. They don’t use money. They trade in actual goods and services, smart
people are valued, guns and bullets, food… the ability to work is the main currency really. When you really boil it down, the Walking
Dead is pure communism. Everyone just keeps working in order to benefit
themselves and the group as a whole. And whenever someone acts selfishly and tries
to be a capitalist, they’re usually killed off in some horrifying way, sometimes realizing
the err of their ways in their final moments. So the next time someone tries to tell you
to invest in some precious metal because the dollar is going to collapse at any moment,
or they tell you that international trade or the value of currency is some great mathematical
mystery, at least now, you know better. So what do you think the currency in post-apocalyptia
will be? Let me know down in the comments. And don’t forget to manipulate the value
of that subscribe button… by clicking it. And in the meantime follow me on facebook
and twitter, and join the conversation on the subreddit.

100 comments

  1. Common currencies work well if the culture/society/economy of the participants are very similar – i.e. the states of the US. Otherwise it can be a disaster. Interest rates in the Euro Zone are chosen to keep the German economy going (as the biggest contributor to EU budgets) which means low interest rates. This led to a property boom in Ireland followed by a bust! This could have been controlled easily if they had had separate currencies. The southern European countries are in a terrible state as their currencies are hugely overvalued by being tied to the northern European currencies through the Euro. Demand for their products is being kept artificially low which means there are few jobs for young people so they are having to move to northern Europe or stay at home with their parents without the ability to marry and have children. The result is the destruction of the unique southern European states and cultures. ……. but then the destruction of the Nation State is actually the whole point of the EU!

  2. Gold is a universal currency.

    I really recommend you read some Austrian economics.

    You are clearly completely ignorant of that school of thought. They answer pretty much all your questions and points about gold.

  3. With the gold and silver aspect, you are correct about the certificates. If you buy gold or silver you also must make sure to get physical possession of the metal.

    You are correct they have no intrinsic value, they are a store of wealth. You wont get rich, but your life savings wont disappear either through inflation, or S hitting the fan scenario.

    Perhaps the easiest way is an example. An ounce of gold 50 years ago brought 1-2 nice suits, ties shoes and so forth. Today 1 ounce of gold will buy 1-2 nice suits and accessories. A dollar 50 years ago brought a lot more than a dollar today, that's inflation at work.

    The main benefit of Gold and Silver is they are finite and cannot be produced in unlimited amounts like currencies can, which is why they keep their value, over millennial time-frames vs the handful of decades for currencies.

  4. You can't have separate countries, with all their varied economies, and have a universal currency. Each countries currency is backed by their own separate economies which is why the dollar is worth more to these other continent countries.

  5. Point of contention – Gold and Silver didn't just have "value" because it was shiny and nice to look at. First, and foremost, it's relatively indestructible which would be a natural requirement of any unit of exchange. Secondly, there's only a fixed amount of it…that includes mining it from sea water – also another important property of currency where counterfeiting is a concern. Another useful characteristic of, say, Gold are its physical properties: it's malleable, ductile, and an excellent conductor of electricity…just to name a few. Anyway, I really like your videos. Just watched the one on Privatization and it confirmed a lot of what I already knew conceptually on the subject. Well done.

  6. I feel like Bulgarians are deciding whether they should be annoyed at being called "some lame developing country" or accept it as a joke, since you said their currency was "the Turtle".

  7. I believe land would become the most valuable currency/ thing to own. Well farmland I mean. If society colapses simply getting enough to eat will rapidly become an issue for most people. Working on or guarding a farm for it's owner would be a great way to attain security and survival. You get food and shelter, he gets guards and fieldhands. I can't immagine a way to be in a better position if it were a full on meltdown where factories and energy production are offline.

  8. Australia got rid of its one and two cent coins ages ago. If you drill a hole in them they make good copper washers and cost less than buying them at the hardware store.

  9. Have you ever checked out “the creature from Jeckle Island”. Deep rabbit hole, depending on which video you follow. Trump is bombastic and has his own set of alternative facts. But a lot of people support him, like me. So don’t be like some of the others who belittle our president. Yea his mentor was Roy Kahn Jewish mafiosi . But still I support him. We’re he to walk down 5th ave and shoot Alec Baldwin in the face, I would yell hoop hoop hurrah!! And. Be even more on his side. Things are all different now that the world is upside down.

  10. I love your videos, even though I can poke a handful of holes in many of them. One perspective I have while watching and enjoying informational videos is that when someone gets one thing very wrong, what else are they getting wrong. I guess it's more of a litmus test or a barometer of mine, rather than a perspective. Case in point… The 2$ bill is NOT made all the time. It hasn't been printed in over 16 years.

    "Only 49,000 bills were issued at that time. The two-dollar bill was first commissioned in March, 1862. The two-dollar denomination was discontinued from 1966 until 1976 when use of the two-dollar bill was resumed as part of the United States bicentennial celebration. The two-dollar was last issued in 2003."

  11. It is not illegal to destroy money unless you are doing it to profit from it. Ever see one of those machines you put 50 cents in to crush a penny? You are not breaking any law to do that. I have always wondered if they are though

  12. So if I had bought 10 ounces of gold on the day you made this video, I could sell it today and make $3,-000 in profit.

    Thanks, Obama.

  13. Actually, MANY brokers DO send you REAL gold and silver when you buy it- not JUST "certificates".
    But the point is not entirely invalid.

  14. The US Dollar is backed by Oil. And now you know why we have over 7 wars in other countries for oil and one of the wars is old enough to vote.

  15. The idea of having a safe place to deposit your gold coin and get a note to prove it was of course the invention of the bank note. So if there's 100 gold coins in the bank, there should be 100 bank notes in circulation. But the banker prints 10 extra notes and loans them out. So if there's 110 bank notes out there and 100 gold coin in the bank, then each bank note is worth 90 cents. So there you have it, you've devalued currency by this thing called credit.

  16. You would never use bullets as currency, the transactor that got the bullets would kill you with them and take all that he traded to you for the bullets you gave him.

  17. In actuality there's confusion regarding dates and series for banknotes. So when you see the $500 and $1,000 bills were made up until 1934 in actuality they were still printing those until 1945. Once the war ended they ceased production of them.

    I really believe the hundred-thousand-dollar bill was only introduced so that Bankers could periodically look at the picture on it and say "thank you mr. Wilson for creating the Federal Reserve."

    That was one of the worst things they ever did to the American people.

    When Richard Nixon was President they asked him about starting up production of five hundred and thousand dollar bills again. He told the Secretary of the Treasury to show him what 1 million dollars in $500 bills looked like. Examine the case in which they brought him the money and he said this would never do because it would be too easy to conceal large quantities of money for drug deals if $500 bills were available.

    That is why you cannot get a 500 or $1,000 bill today that's made any time after the 1970s.

  18. The reason the United States abandon the gold standard in 1971 was because before that time the Federal Reserve had vaults that represent of the different nations and if you made a payment from one country to another you would simply move the gold from one vault to another. The Saudis began demanding physical delivery of the gold to their agents who would take the gold to Saudi Arabia.
    As there are only so many tons of gold in those salts was became very alarming… so away with the gold standard.

  19. 8:47

    The problem with the universal currency is something I saw when I first heard about the creation of the Eurozone when I was a kid.

    Despite theoretical controls there is really nothing that could stop one nation from printing or stamping out as many euros as they saw fit to do.

    Think about those one and two and five euro coins.

    So you have Germany who bearing in mind the inflation of 1923 has been fiscally responsible and kept tight controls on their production of currency, as opposed to Italy and Greece who just kept running those printing presses like there's no tomorrow…

    And we all know what Greece looks like today economically.

  20. I like my sterling silver tableware and I have a few little cups and one larger Cup made out of silver…

    So silver does have a value that is readily measurable.

    Sure I could have some beverage out of my Tin Cup butt when I feel like something nice I'll drink out of one of the silver ones.

    But to be honest when everything does go to crap, the only real currencies will be the gold and the silver.

  21. 1. It actually isn't 100% illegal to destroy money. The law mostly came about to stop people from shaving or melting coins for there base metals, and the law also makes exempts money destroyed for entertainment or education.

    2.Not all movie money is reel. There is a man who communicates directly with the FBI to make prop money legally. https://m.youtube.com/watch?v=LHFVJaT35D4 movies that don't uses his props will normally just use a stack of green paper with a real dollar on top of the stack.

  22. @4:26 did this idiot really suggest holding useless fiat cash over gold or silver?! You sir are a fucking moron for suggesting that especially since the debt is over 23 trillion now, yeah that means your dolla dolla bills are worthless soon and gold and crypto will explode. Good luck shitting on all your subs that listen to your trash advice ♡♡♡

  23. The 3 copiers i used must've been broken because i could and did copy money all day. I had to for proof of payment. The first copier was ancient from like the 80's or something but the 2 others were brand new! So I'm not sure if they purposely disabled that feature or what but yep i could copy money. Not trying to say you're wrong just thought i would let you know that there are copiers that will copy money

  24. 12:44 they also have some interesting and unique properties like how gold doesn't oxidise ect ect but yeah most of their value comes from scarcity and "ooo shiny"

  25. You are wrong about gold and silver. They will always habe value because people are vain and will always see them as valuable. Even in a zombie apocalypse you would be able to trade gold and silver for food. Someone would be willing to bet that some sort of society would return and then they would be set up with large amounts of hard currency.

  26. why doesnt the Police State simply print its own money and cut out the Federal Reserve? Fed seems like a drain on resources. Makes no sense to give that money back to them. Wasteful

  27. I do think silver holds more intrinsic value than gold as it is consumed in various industrial processes, diminishing the world's supply and making it valuable at the same time. On the other hand, once the power grid gets fried and factories become utterly desolate, it probably will not make much of a difference any more.
    If memory serves me well, lead would be more valuable as it would take less energy to make it into bullets than either gold or silver, f.e..

  28. 12 mins in talking about currency after a crisis. When cash loses value. What's left is sexual currency. Prostitution and pimping and booze. Its sad but thats the world we live in.

  29. I’d like to make a small correction, 8:43, you said ”they all standardized and converted to the Euro in 2002” but in fact swedish kronor still exist today. Anyway i love ur vids keep it up bro!

  30. Your whole comment about how movie money has to be real money is totally… false… have you not seen "Hollywood money" before? If you look closely where it says The United States Of America, it usually says "this is not real tender" its not counterfit but from a distance it looks like real money. Now if its a closeup then sure its probably real.

  31. 5:21 they could just make it really obvious it's fake like just one side with actual printing the other with plain green, if the intention is not to counterfit then I don't see how that can be illegal

  32. I'm actually surprised there are no angry Bulgarians here ahah as Bulgarian and from what I've seen for 18 years shitting like that on Bulgaria gets you in big shit usually

  33. I suppose that this should go without saying, but nothing, NOTHING has any value whatsoever beyond what someone will willingly give or trade one for it…

    Not dollar bills, not bitcoin, not even good and silver…

    If I and Jeff Bezos are stuck in a snowstorm, and I have a $40 jacket which is keeping me alive, and he will freeze to death without it, then he could offer me a hundred billion dollars, even in Amazon stock, solid gold or diamonds, etc… then my $40 coat is, in that situation, worth more than 100 BILLION dollars!!! (Right?)

    Bottom line? (Both literally and figuratively)… NOTHING has value beyond what the people who are engaged in trading such apply to that item! This should be obvious!

    This is an extreme example, but such situations have happened innumerable times in the course of history – like when absurd ransoms were paid for prisoners throughout the middle ages, or when nations have had to cede territory when their conquerors wouldn't accept 'currency '…

    I guess I'm suggesting that, at that the most basic level ALL 'currency ' (no matter how universal, fungible, divisible, etc, that it is) is all 'FIAT' currency – that it is only worth what someone says that it is! (And, that someone, or course, is the entity that is willing (or not) to accept it… Depending on the situation and any possible competition for it!

    It's an oversimplification and im, and, again, sorry to point out the obvious, but, its also TRUE! (in a snowstorm, you can't buy my coat! …probably!)

    B

  34. Actually most money in movies isn't really an they are allowed to create money but only certain people to very special standards.

  35. Bottle caps because they misinterpreted the meaning of the word cap-italism, similar to how they misinterpreted the rules of baseball.

  36. What will the currency be if things fell apart?

    I have a survivalist friend that, scout's honor, thinks that it'll be toilet paper! (One can't wipe with gold or silver… Not comfortably, anyway!)

  37. The flaw with a widespread currency is the lack of economic control a country has.
    Due to the euro being used in so many countries many countries suffer for it.
    Greece is currently impoverished usually that could be remedied by printing more money to encourage more spending and create more jobs (Economic health is encouraged when people spend their money instead of hoarding it)
    However on the flip side in a thriving economy such as Germany printing more money would lead to inflation devaluing the worth of each piece of currency.
    Due to the fact that both countries use the same currency greece can't fix it's economy without affecting germany.

    The only reason USD is able to be used over the entire USA is due to a large amount of federal oversight and number crunching that isn't practical in a multi country conglomerate.

  38. If that universal currency collapsed then what? Also…one currency makes it easier for the banks to manipulate the entire planet…. um… no thanks

  39. It's kinda funny that you use the same example (the Euro) to show that a universal currency would be a good thing as I use to show that's a terrible idea.

  40. when I was a kid I printed money on one side of diff types of material and paper for a science fair project is that because I had an old printer? if so is that what counterfeiters look for? old printer's?

  41. The dollar will crash, but the main preparations that the YouTube channels I watch that warned about it said: #1.) Believe in Yahshua Ha’Mashiach (Jesus [the] Christ) and get right with Elohim is the number one preparation. The rest is purely material: stock up on non-perishable food, drinking water, bathing water, clothes, hygiene supplies, batteries, flashlights,
    Here’s my list:
    Supplies Needed:
    Consumables:
    Water:
    Sam’s Club:
    Zephyrhills
    500+ Water Bottles per person
    12 40 bottle cases per person
    3 bottles a day lasts 6 months
    Walmart:
    3 liters Zephyrhills water bottles
    Food:
    Sam’s Club:
    Ramen Noodles (chicken)
    36 pack of ramen
    Canned tuna, chicken, and beef
    Chef Boyardee
    Oatmeal
    Large bags of sugar, flour, and rice
    Non-consumables:
    Cooking:
    Butane stove, Butane fuel cartridges
    6 months – 100 fuel cartridges
    Manuel can opener
    Light:
    Kerosene lamps, Kerosene bottles
    Wicks
    Candles
    Matches and Lighters
    Flashlights and batteries
    Waste:
    Toilet paper
    Bleach
    Medicinal:
    First Aid Kits (buy supplies separately as well)
    Medical masks
    Cleaning:
    Laundry detergent
    Dishwashing soap
    Bars of soap
    Toothpaste
    Garbage bags
    Tylenol
    Hand sanitizer
    Acne cream
    Lotion
    Entertainment:
    Board Games
    Card Games
    Books
    Protection:
    Knives, Machetes, firearms/guns, suppresor/silencer, Bullet resistant armor,
    Miscellaneous:
    Weather radio
    Print photos at Walmart
    Any feminine products needed
    Etc.
    Anyone else can add anything appropriate, needed, and appropriately needed.

  42. Quick note about the bottle cap thing in fallout: the reason they were used as currency is explained in the games. In the wasteland, water was the common trading item. Overtime however, rather than trading actual bottles, merchants in California decided to just have each bottle cap represent a certain amount of water.

  43. For ease of pronunciation, you could always call the Chinese Yuan (which is pronounced "wan," by the way, because pinyin is the strangest, most byzantine Romanization system on Earth) the RMB, short for Rénmínbì (人民币; literally, "the people's currency"). A lot of people in China (foreigners, anyways) call it RMB.

  44. Geh. I'm gonna have to set an alarm to re-watch this quarterly. I always forget some of these excellent points and thanks for the (okay, simplified) explanation of how currencies interact with each other, very useful.

  45. If i give you a black belt in karate its worthless
    If a karate expert gives you one it valuable
    Who's backing Bitcoin
    Who's backing the US Dollar

  46. The Euro is not the success story you say it to be. I've read somewhere that because of the Euro, Germany was able to export a lot without increasing exchange rates, as the southern countries pulled the exchange rate down. This is the reason why economists have been predicting a crisis for years.
    A universal currency would be similar, but even more extreme. The developed countries would be able to export very cheaply, while not importing anything from developing countries. This would lead to a huge collapse later.

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