The History of the US Dollar

[@imyasharya]

I like this history lesson. If every history lesson would be hosted by you two, I'll start loving history 😁

[@rohangangar6210]

ikr

[@martinachan7719]

Julia and Phillip should teach history and economics (online) lessons for students worldwide.

[@jasonwilkins1969]

Definitely agree you should check out crash course history. Also recommend extra history. Both video series do a good job of talking about the larger surrounding history in an enjoyable way.

[@johnrodriguez5133]

If only school was this interesting 🤔

[@justinfreeman4614]

They got that Ma & Pop feel, y'know?

[@Je.rone_]

In a few years yall going to have to adjust for inflation and call the channel 3 cents😁

[@shaereub4450]

Remember: They already have a 3rd cent.

[@AB-xu5yf]

😂

[@2012withShantelleS]

Jerone! You're here too

[@manaspradhan8041]

@@shaereub4450 can someone explain?

[@shaereub4450]

@@manaspradhan8041 go back to a few previous videos where they announced they were pregnant and also a few where the baby was in it.

[@alicemendoza5269]

The financial sector and derivatives may have a Hindenburg moment if the US Treasury market collapses. Rising market illiquidity in the $14.8 trillion U.S. Treasury market, according to Bank of America, might affect other financial markets.

[@godof-ou1dw]

There are several opportunities to produce high returns, especially in this depressed market, but such complex transactions can only be executed by seasoned market professionals.

[@patrickperez7387]

I completely agree, which is why I prefer to delegate decision-making authority to an investment coach. Given their specific expertise and training, together with the fact that each of their skills is focused on harnessing risk for its asymmetrical potential and restricting it as a buffer against certain unfavorable developments, it is almost impossible for them to underperform. I worked with an investment coach for nearly two years during which time I made over a million dollars.

[@harod033]

@@patrickperez7387 I've been thinking about going that route. I've been holding onto a lot of stocks, but they're starting to lose value, and I'm not sure if I should retain them or sell them. I think hiring your investment coach would help me restructure my portfolio.

[@patrickperez7387]

@@harod033 Yes, you can use a search engine to hunt for "Ruth Loralann Brennan. However, I'm not certain that I can bring this up. In 2020, she attracted a lot of attention. She manages my portfolio and serves as my mentor.

[@AnthonyHart34]

@@patrickperez7387 I merely needed to enter her entire name into Google to locate her website. So far, it appears intriguing. On the date we agreed upon, I will phone her and let you know how it went. Thanks

[@rodribrito]

I just love Julia's Spanish pronunciation. Borderline perfect.

[@Anothernerdyloser314]

@Águila701 She's got a latin heritage, so I'm pretty sure it comes from her actually knowing spanish.

[@vgjl1824]

@@Anothernerdyloser314Is european spanish not latin american

[@luisviznews3836]

@@vgjl1824 Are you trying to say that castellano is the same as Latin American Spanish?

[@vgjl1824]

@@luisviznews3836 Its spanish both

[@bloodwargaming3662]

Timestamp?

[@BeanDar]

2:54 Has anyone really ever heard the saying "not worth a Continental" before?

[@DietBajaBlast]

nope

[@markhagerman3072]

Of course! I've known that one since I was a child.

[@BeanDar]

@@markhagerman3072 haha that's cool, I'm curious which part of the world you grew up in? I grew up in and live in Houston Texas, raised by parents from New Jersey and New York lol

[@rohangangar6210]

I feel like I have

[@itrthho]

Heard it on the West Coast when a youngin

[@cesaraguilar593]

I just came here to say that: The 10 dollar, founding father without a father, got a lot farther by being a lot smarter, by working a lot harder, by being a self starter

[@Patrick-sz7uk]

Cesar Aguilar no

[@kejdzi54]

I found this comment earlier than I expected

[@rohangangar6210]

im confused.

[@TheBoxingNinja]

This from the movie with Hugh Jackman right?

[@craigcarter400]

Not even close. Musical about Hamilton written by Lin Manuel Miranda

[@admiralhyperspace0015]

Oh hello! Just a friendly reminder that you completely skimmed of the federal reserve banks and how the money is controlled today. I think it would have been good to add.

[@MrCharlesEldredge]

That was my comment as well. A major change that went unmentioned in this "history" video.

[@AlecMuller]

And how the Fed is instrumental in promoting wealth inequality by extending more credit to wealthy people than to poor people during times of crisis.

[@dustinabc]

They also mention how inflation reduced the value of the one fiat, but failed to point out that the dollar has suffered the same fate, and the current dollar only has a value of about...2-5% of what it had when the Fed was created.

[@MsPants1632]

Their videos are usually only so long... to keep our attention. They are so knowledgeable, I’m sure they knew all this:)

[@admiralhyperspace0015]

@@MsPants1632 maybe, I like two cents and they have been straightforward before and I trust them, that said I am a little inclined to speculate that it was deliberate, as some messages in earlier videos have been a little on the no no side. But still a good video.

[@economicsinaction]

0:38 The British: *"Hippity hoppity gold is my property"*

[@RandDickson]

1913 Roosevelt: I’ll try that.

[@SimGunther]

The UN: Hippity Hoppity, your humanity is now my property

[@pXnTilde]

Gordon Brown: "Hippity hoppity I sell gold incompetently"

[@TeenageJesusSuperstr]

Loved this - i'd be very keen to watch more "finance history" vids!

[@ismailibrahim5341]

you may find the real history here kzbin.info/aero/PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc

[@mauz791]

This is like a Ted Ed video. Nice

[@DIYBiotech]

better!

[@Heiser_21]

Julia’s pronunciation (when she speak Spanish) is amazing!!! Thank you for taking the time to learn how to pronounce those words, we as native Spanish speakers (from Mexico) appreciate that so much! And incredible video by the way, keep up the good work guys!

[@Marco_Fabian37]

Time stamp? I must have missed it.

[@Heiser_21]

@@Marco_Fabian37 0:59 & 1:05

[@albanduro4278]

Bitcoin is the future, investing in it now will be the wisest thing to do especially with the current rise in bitcoin

[@aliciabennett9216]

@Dorina Shyti you're lucky

[@aliciabennett9216]

I Lost $1500 trading with an unprofessional trader

[@gazmirduro9660]

Dulahi is really good and everyone loves genuine services, he has helped me recover all I lost trying to trade on my own

[@gazmirduro9660]

he's really amazing I still can't believe someone can be this exceptional when it comes to Bitcoin activities

[@adasohas]

No doubt Mr Dulahi Jeroen is very good, I invested $5000 and cashed out $48,800 after 7days, I still wonder how he get his analysis

[@ameliarolf4041]

“Salmon, like the fish”! Lovely Bones, anyone?

[@SamianHQuazi]

That book made me tear up so bad! :'''-(

[@jerrysinclair6433]

Another great video! If you haven't done a video about it already could you do a video with more info about the gold standard? History and pros and cons? Thanks for the great content!

[@chukuemekaoje1015]

A history of central banking would be an awesome companion piece to this!

[@chukuemekaoje1015]

@Two Cents um... YES!!!

[@chukuemekaoje1015]

@Two Cents Oh shucks! I totally misunderstood you guys! I know very little about crypto and am only a passive investor. Should I still call?

[@chukuemekaoje1015]

@Two Cents Wait a minute... you aren't makers of this video, aren't you? Are you trying to impersonate this channel?

[@MrPhante]

Started watching a lot of y'all's old videos and it's been helpful! This video was helpful in a fun historical way too 😁 great work!

[@abrahamcampos4466]

Hi, guys! I loved this video! I had always been curious about the dollar's history. I had no idea Mexico's Casa de Moneda had something to do with your currency. I'm from Mexico and that was really interesting to me. Thank you!!!

[@sleepovershelter]

🇨🇦 I love that conclusion. People use plastic cards & don’t feel the pain of losing nor disrespecting a coin or bill

[@pawpatrolnews]

You forgot one big fact about Mr. Salmon P. Chase- one of the largest banks in the country is actually named after him. What an honor!

[@johnny8dHD]

Awesome History Class Thank You for making still making these videos. (Long Time Fan here) And... Thanks! Someone finally mentioned La Casa de Moneda de México. Btw, perfecta pronunciación. Sería genial si pudieran hacer un vídeo igual de Economía, pero relacionado con México. :3

[@billytheguy6505]

You guys should make a video on different housing options such as apartments, condominiums, mobile/manufactured homes, and even van life! I love the videos you guys post! Keep it up.

[@msmariasolis1]

Julia, you Latina girl? Your Spanish accent is on point!

[@Anothernerdyloser314]

Her name is Julia *Lorenz*-Olson

[@msmariasolis1]

@@Anothernerdyloser314 That doesn't answer my question but thanks for playing!

[@danielponder690]

As a coin collector, it is great seeing historical background to US money introduced in one of your great videos. The pound was changed to bass 100 in 1969; it was base 60 where 240 pence equalled a pound, 20 shillings equalled a pound, 1 shilling = 12 pence

[@shadowfan982]

1971 it decimalised

[@danielponder690]

@@shadowfan982 that’s right. They minted coins a bit earlier I think

[@ashishphatak1276]

I came here after the suggestion from 'Its Ok to be smart' and boy!! You blew my mind, the narrative and storytelling is just great. I enjoyed alot

[@soomiewleng5227]

why

[@GlobalStevie]

Most in-depth & digestible history on the US dollar I’ve ever seen. Planning to rewatch a few times to catch all the details.

[@totalolage]

I'm hearing a lot of decisions having been rationalised with "It gives the government more power" From forcing people to use the currency, to permitting the limitless printing of it. To a country founded on resistance to forced rule, this should be a red flag.

[@joemacy2776]

I also find it interesting to think about how electronic money has come to be so prominent in our society. Less than 10% of our money exists as physical currency (cash and coin) and the rest exists solely as numbers in computers. Electronic currency also makes printing money easier as the fed doesn't have to actually print it. They just have to create it electronically.

[@joelo542]

What's taking you guys forever to make another video? We have watched it all and we need more!!!

[@PradedaCech]

I've recently been to Jáchymov (Joachimsthal). Friends have a holiday house there. It's a rather small place nowadays, and more known for its recent tragic history - political prisoners were forced to work in uranium mines during Communist times.

[@duckfarmer8630]

You are wrong about the $ sign. My great great grandfather from told my dad that bags or crates came with it saying like 10 US....eventually they put the U on top of the S to save room $.

[@Iffy50]

Great video! The only thing I was sad you skipped was Executive order 6102.

[@Iffy50]

FYI: Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $408 in 2019)[5] per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000,(equivalent to $198,000 in 2019)[5] up to ten years in prison, or both. Then... The Gold Reserve Act of 1934 made gold clauses unenforceable and authorized the President to establish the gold value of the dollar by proclamation. Immediately following its passage, Roosevelt changed the statutory price of gold from $20.67 to $35 per ounce, thereby devaluing the US dollar, which was based on gold. That price remained in effect until August 15, 1971, when President Richard Nixon announced that the US would no longer convert dollars to gold at a fixed value, thus abandoning the gold standard for foreign exchange (see Nixon Shock). ....and the American people were robbed blind..

[@plumeater1]

Me, 5 years ago: Fiat currency is the worst! Me, today, an intellectual: Printer go *brrrrrrrrrrrrrrrr*

[@samyeoski]

Didn't the dollar gold standard get weaker and weaker as America started printing more money to fund the Vietnam war? Other countries questioned the standard, before Nixon broke it

[@_Kaori_Miyazono_]

I am not American. But I love your videos

[@YaYousef5]

Hey, could you help me out? I'm not completely sure I understand how your funding works. You have a Patreon so people can support you directly, but it looks like you're PBS employees? Or is PBS just another sponsor? Are you salaried employees of PBS who have a Patreon, who now also do in-video ads for companies like Target? How does it all work?

[@pXnTilde]

Well, even if they got paid they still need money for production costs. Patreon is for consumers to contribute to a show they like to keep it funded, and the other ads probably just supplement that - more money (theoretically) = higher quality content in the form of not only equipment, but research staff and writers, etc. The show's had pretty good growth, but it still has to justify it's existence through financial stability.

[@evosmith12]

For thousands of years people have had disagreements yet every year people believe the current disagreements are the largest and most important they have ever been.

[@jmckeegordon1]

Those early Greenbacks were really sweet idk why we ever went away from that design like damn

[@pongop]

Very interesting video! As a history teacher, I appreciate the historical content!

[@obviouslyblack]

Yay! They got a sponsor! These videos take a lot of work to create.

[@edventure4484]

Thanks guys ♥️

[@cryptoflippodcast]

*Loving the video!* Can we just appreciate how good the editing is??!! always inspirational to smaller KZbinrs like myself 👍👍👍

[@briankelly1240]

I was taught the dollar symbol was the overlap of 'U' and 'S'. Overtime the bottom of the 'U' was dropped off, and then people being lazy only used 1 line instead of 2.

[@guaycura]

No, the sign predates the US. The Hercules Pillars are a more probable explanation but there are more theories.

[@acajudi100]

I was paying $1900 per month in the USA, but in Queretaro I have paid $672 in 2021 to $855 per as of May 2023. mont. I could live even less expensive, but I love where I live and it is beautifully furnished, all utilities, including wifi, maid, security, and a beautiful view of the city. It is safer than the USA also. The weather is cool, and this is a super clean city, and I have local friends. I order my 6 months food and water supplies, and I generously help non beggars. I am 80, and have been coming to Mexico for over 60 years., mainly Acapulco, but the earthquakes were the deal breakers.

[@mitchell.9632]

Quite a few people have that in food supplies though that is good you have that in water supplies for six months too.

[@pioneercolonel]

Thank you, guys. I learned a thing or two certainly worth more than a continental :)

[@N4K3DN1NJ4]

I always get weird looks when I tell people "I love money." They always think I mean I love to grow my bank account, but I mean the actual bills/coins themselves. The history of currencies from around the world is super fascinating and I love the variety of designs, materials, ways of uses, etc. If you want to know what kind of things, people, or ideas a country/culture values, just look at their money!

[@feynstein1004]

Does anyone else see a lot of similarities between the Roman Republic and present-day US? Both started out by rebelling against kings, both started out small and then expanded to become major powers. As someone who loves the ancient republic, I kinda feel like America is the second coming of Rome. I just hope the people don't make the same mistakes this time.

[@soomiewleng5227]

from a year old subscriber i like it if it covered other countries . im kinda sick without a local related economic lesson

[@dianewallace6064]

I love the history of anything.

[@uncensoredinvestigation8072]

Money printing has been the most devastating effect for all humans that ever placed foot on earth.

[@taraswick3586]

you two are goals. thank you for succeeding in life.

[@NP-zt6hy]

Strange, we Americans adopted a decimal-based metric for our currency to make it easier, yet we couldn't get behind a decimal-based measurement system because...?

[@pXnTilde]

Because it's not easier. Pretty simple.

[@chaimgorkowitz9542]

You two left out the most important detail, the Federal Reserve, not Federal and has no reserves, and ohh, it is privately held. Oversight? I doubt it.

[@tylerpeterson4726]

The Fed is overseen by 7 presidentially nominated governors. The governors also sit on the monetary policy setting FOMC. What you are talking about is how private member banks part of the Federal Reserve system must buy stock in their branch related to their assets and then they can use that stock to elect 6 of the 9 branch directors. Then the 12 branches rotate among the 5 remaining seats on the FOMC. The branches may be chartered as private corporations, but does an organization where the majority of leadership is appointed by the president sound like a private corporation to you?

[@chaimgorkowitz9542]

You sir are an imbecile.

[@dustinabc]

@@tylerpeterson4726 yep, it does sound privatized to me. Cronyism as is most often the case in today's world. Private and gov't in and out of each other's business in violation of the rights of the people.

[@candyluna2929]

@@tylerpeterson4726 lmfao just bc the president appoints doesnt mean shit.

[@candyluna2929]

Thank you, I was looking for this comment or I was gonna write it. Ppl need to learn of the scan that the system is. But it seems like people dont want to.

[@noeldillabough]

Learned a lot and confirmed a lot that I sort of knew but wasn't sure. Love the references like 10 (Dix) = Dixie. One thing we should really consider is how printing huge quantities of paper money caused it to become worthless; especially now that we're simply putting zeroes into a computer and not actually printing it...not looking forward to when a 10 dollar bill buys 2 cents of goods.

[@QuestionEverythingButWHY]

“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” ― Mark Twain

[@jasondeleon2457]

This is a great video. Please do financial history from time to time. Maybe the history of the Pound Sterling and the Euro? Please please!!!

[@chadhanson4369]

GREAT IDEA FOR A VIDEO!!! show how a car looses 63% of its value in 5 years but a jeep looses 30-32% of their value in 5 years. On the average price of a new car $33,000 that means you save over $10,000 (selling privately and trade in) buying a new jeep over any other brand! Now they get 30mpg and hybrid/electric wranglers to save even more over a 28mpg 1.0T Small suv like an ecosport.

[@erin2704]

Hi can you guys make a video about keeping receipts and why we should do that? I don't see any videos on why we should keep it.

[@iancruz6617]

Love it. My dad has US 1 dollar in such good quality. I only seen it on tv and cartoons and but seeing it in person in hogh quality was beatuatiful. Too bad my dad don't hqve a ben franklin 100 dollar bill would love to see

[@rishiramchandani567]

Thank You

[@themaestro9527]

8:57 Good point

[@stellartrader2659]

You could've kept your 2 cents about whether or not Tubman should be on the money.

[@micahbush5397]

I think the funniest aspect of Confederate paper money is that counterfeit bills could often be detected by their higher quality.

[@alleiajames8229]

I Love this channel!!! Keep the videos coming. I wish they were more frequent 😊

[@greenleafyman1028]

Hello there guys, can you make a video about cooperatives? Any topic you wanted for it, thanks guys. Love watching your videos❤

[@TomMcMorrow]

This ties in nicely with a video I watched on Tubi last night all about the Federal Reserve.

[@burper-oe6tm]

It’s kinda ironic how the US were the ones the use a sensible decimal number based system while Britain were using a confusingly proportioned system

[@phoenix21studios]

The Spanish mill dollar is the pieces of 8 because they literally cut the coin into smaller parts, it was more refined than a British crown in its silver content.

[@alondraelizabethherrera2404]

Wow this was so good!

[@TheIllinibasketball]

Awesome video, Guys! Thanks for the history lesson. Never knew about the Dixeland/Dix connection! so cool!

[@lightx500]

They got rid of the pouds and shillings to make life easier and kept the most complex imperial measurement 😂

[@itrthho]

The metric system is French and the US was nearly at war with France at the time...a big reason the Yanks help off on it.

[@MrCrashDavi]

@@itrthho But metric money is american! way more important than weights tbh.

[@ChristopherJohnsonArtist]

It was the peso symbol before it was used for the U.S. Dollar. :-) (and still used for pesos today)

[@luiantfercif]

Great history lesson but its missing an important fact, in 1913 the dollar effectively became a private currency with the introduction of the fed. Maybe that's why Chase was so keen to rule that way when he was a judge.

Guys, love your content. Very entertaining and informative, but come on! 4 ads and 1 target mention??? This is not linear TV. Don't turn KZbin into that. Please!

[@javiiking6363]

Wow thank you guys!!!

[@johnnyvegas4583]

You two make everything entertaining, bravo!

[@GnarDoober]

fantastic video, incredibly interesting, and y'all present it all extremely well. Do you happen to know the name/artist of the painting featured at 2:35 ?

[@mitchell.9632]

It should be noted that since passed in days before winter break in 1913 who is in control of the money supply is, despite its name, a private corporation called The Federal Reserve (though it has some regulations). They set the interest rates and more. And the significance of that change when the U.S. Government use to be in control of the money supply in the preceding years.

[@rodrigoalvarez4105]

"casa de modena" that was so cute. thanks for another video guys, we love you.

[@XavierSmithSchwazenegger]

Hello Two Cents! Its been 4 weeks already. I am missing your new video notifications every time a new video you created was uploaded.

[@XavierSmithSchwazenegger]

@Two Cents That would be very nice!

[@meinelust]

If only the measurement system follows the same logical divisions.

[@pXnTilde]

our measurement systems do follow logical divisions. 12 is divisible by 2, 3, 4, and 6; 16 is divisible by 2, 4, and 8. Ratios (particularly halves and doubles) are more convenient for every day life. It came about through an "evolution" of sorts after thousands of years of, well, every day life.

[@alexejnovak8693]

Wow, Joachimsthal is actually called Jáchymov and it's in the Czech republic. Proud of my country 🇨🇿

[@alexejnovak8693]

@Two Cents , you're so pathetic. Just stop it now, please

[@artherfuller6038]

I really appreciate the research you both put in your videos, you have earned my subscription!!!!!!!

[@willmallory9085]

Excellent video Team.

[@aggressiveloaf6900]

Pieces of eight... Arr killed me :)

[@boyscout244]

*hears pamphlet written in colonial time The back of my brain: "the Reynolds pamphlet"

[@julialorenz-olson3515]

Have you read this ish?

[@Whooshta]

Where are you two?! I need more of your videos!

[@pikminlord343]

a great video!

[@PS-ru2ov]

btw as a British person we do not use Pounds schillings and pence not since 1971 our currency is decimal 100 pence in £1

[@jaspereon9020]

Love this channel..

[@jaspereon9020]

Yes of course Yes

[@jaspereon9020]

@Two Cents yeah ....Like hell😂

[@_.soymilk]

Totally unrelated, but I recently cut my hair shorter and I was trying to figure out how to style it. Julia your hair always looks so nice! I’m taking notes 😂

[@patricianuno6965]

I really enjoy you videos, they're always so informative 👏

[@gabrielsousa2405]

The dollar has faded and Crypto is the new currency 💯💯

[@chrissain9455]

Invest In gold and Crypto

[@chrissain4857]

They're really profitable rn

[@christianchurchill9368]

Crypto is the future

[@christianchurchill9368]

Investing now will be very wise

[@Brit1222]

Stocks are good too

[@BenShutUp]

You guys are amazing! American's history is pretty cool!

[@nephihill6172]

I love your content

[@VideoChasca]

A thing I'd love to see in future bills is a design that takes into account non sighted people.

[@AgentKodak]

Love the video! Can you all cover Petrodollars now?!

[@hc3203]

You guys skipped over why the dollar and gold relationship got weaker. You can’t just simply say it’s now a fiat currency with such a weak explanation like that. What Nixon did has impacted the course of history forever and no one knows why he really did it.

[@zekeinvest7041]

The dollar will continue to devalue into eternity, while Bitcoin will continue to rise in value into eternity due to there being a fixed amount that will ever be available.

[@vibratehigher2441]

Thanks

[@rodneycash3532]

I like that history I mean about the U.S. dollar is the official method payment in several Countries, the thing now they are other countries trying to reach that Divisa but Dollar is still a good coin.