In the words of Homer Simpson: "Money can be exchanged for goods and services".
@oakonion88602 жыл бұрын
Wise man
@comlitbeta75322 жыл бұрын
But i wanted a peanut :'(
@jamiehughes55734 ай бұрын
$20 can buy many peanuts
@kirillstarkov10989 күн бұрын
Ohhh interesting
@sopheakpannhabou31392 жыл бұрын
Rice was used as a currency in Japan during the 17th century to 1780 and in the Philippines, rice is an important commodity to the point that women are banned from entering storehouse and men have to perform a ritual before entering. And in 1739, South Carolina passed a law permitting paying taxes in rice and the went on to collect 1.2million pounds of rice the following years.
@ratronald2 жыл бұрын
do you have a source on the south carolina part? i can't find anything about it online
@sopheakpannhabou31392 жыл бұрын
@@ratronald yeah the encyclopedia of money
@jhingadlawan1262 жыл бұрын
*R* *I* *C* *E*
@Cereal_Killer0074 ай бұрын
Too bad I cant go back in time or id be the richest man in all of Japan. Depending on how much rice was equivalent to $1
@legalise.nuclearbombsАй бұрын
60 metric tons @@Cereal_Killer007
@scorbiot2 жыл бұрын
There actually is value to fiat money! The value just comes from the government demanding that you use money when interacting with it (e.g. taxes) and you not wanting to be thrown into jail.
@Tupadre972 жыл бұрын
actually the value is that it buys you fucking food and water
@Omer1996E.C2 жыл бұрын
It's artificial demand for it gives it value, the us military safeguards the dollar (aka. libyan war)
@Shah_dat2 жыл бұрын
tax is just a fee you pay to the big boss government to stay out of jail.
@gwho Жыл бұрын
wow such a benefit!
@danielmichaelfleiss2141 Жыл бұрын
Unknown to most people, black stainless steel is what backs your money. Without it, you wouldn’t have money to begin with. Black stainless steel is an alloy of steel, iron, molybdenum, aluminum, silver, cromite, and tungsten, copper, zinc, and, in some cases, manganese and nickel. I work at the Atlanta Fed. We use a lot of black stainless steel. Due to the war in Ukraine, some of these metals are becoming increasingly hard to find.
@eliotguerin1922 жыл бұрын
I love all of your videos that focus on history! I know you started out on geopolitics but i think you’re great at these too. I didnt quite enjoy the video where you tried to predict the most subscribed youtubers in the future. It just seemed too far outside of your usual expertise. But, anything academic like history, geography, politics, etc, i love it man! Keep it up!
@joshschmidt45462 жыл бұрын
personally I loved that video I think he should do more like it..
@FrostyFrosto2 жыл бұрын
“MONEY” -Mr Crabs
@Neo2266. Жыл бұрын
4:40 The reason they all started using metal, is also because the Phonecians, a trading nation spanning across all those areas at one point, also used metal coins. And they got it from Lydia, a middle eastern nation who first *coined* the use of coins. The coin they used was an electrum alloy (gold+silver) and was called “The Stater”
@mafiousbj Жыл бұрын
We did use rocks as currency...they are called gems ^^ (although as a geologist I must say that gems are minerals, rocks are a composition of different minerals)
@Shvetsario7 ай бұрын
So gems is just the made up term, but those rocks are part of a category called minerals?
@lloydpl6 ай бұрын
@@Shvetsario Its not completely made up, because it refers to precious minerals
@joshschmidt45462 жыл бұрын
More content like this, you're becoming one of my favorite youtubers forsure.
@Coasterfan16142 жыл бұрын
Spongebobs soul can become 62 cents
@widodoakrom39382 жыл бұрын
Lmao
@MediumDSpeaks2 жыл бұрын
With masterworks sponsoring every channel that has a mostly male 18-35 viewer base, I guess the art bubble is about to pop just like the housing and stock bubble
@fernandotills2 жыл бұрын
So damn ready.
@Bolivian052 жыл бұрын
Mr.Krabs be panicking
@respeed45912 жыл бұрын
This video feels like a powerpoint from william osman. And i love it
@mvssvАй бұрын
your edits are hilariously dope! 😂
@bt38982 жыл бұрын
ı think money makes trading pretty easy and give a normally useless thing a use so its like hitting two birds with one stone.
@מ.מ-ה9ד2 жыл бұрын
5:43 And that exact currency name, is still used today.
@Muslim-og3vc2 жыл бұрын
Oy vey
@מ.מ-ה9ד2 жыл бұрын
@@Muslim-og3vc ok racist
@TheRepublicOfUngeria2 жыл бұрын
What is being missed is: fiat money has use value in that it is a token for payment of public debts: mostly taxes. For The U.S. Federal Government, they don't need your money to pay for things, they need your money so that you need their money. They literally shred all paper money they get, and erase the electronic values of electronic money they receive. When they need to pay for something, they just print new money. Bitcoins value is entirely based around the fact that it is a collectable, nothing more and nothing less. The only thing you would need to do to have the power to create respectable fiat money is annex valuable territory and enforce your claim over it: good luck with that.
@qwoolrat9 ай бұрын
bitcoin is built around mining, where you have to perform calculations to get currency and they get harder with the amount of people using it
@TheRepublicOfUngeria9 ай бұрын
@@qwoolrat It's valued based on the inherent scarcity of being able achieve the economic control necessary to solve it, by having cryptography that requires inordinate computing power to solve, but the solved cryptography doesn't actually have any particular use: it's just a series of 1's and 0's that you value only because you had to waste so much shit putting the 1's and 0's in that order. It isn't entertaining like a media file. It isn't informing like a text file with something informing on it. The problem with this is that it basically puts it into a category of goods that are an inherently limited part of the economy: facetious luxury goods: any commodity that is valued purely because it is rare, and, therefore, is something you are required to have a lot of socioeconomic power in order to secure exclusive use over it, and is thus a symbol for that underlying status. Such goods, as an entire collective, is inherently limited to being a small part of the entire economy, because the actual parts of the economy that matter are those that have more ubiquitous use values. With fiat currency: the ubiquitous use value is that it can pay taxes that everyone within that country HAS to pay in that currency. It isn't even something you can substitute. I can substitute some kinds of calories for others. I can bejewel myself in various kinds of gems and metals. I can pretend that x cryptocurrency is dumb while y cryptocurrency is cool. But I can't pay American taxes with Chinese Yuan.
@dipendusadhukhan3446 Жыл бұрын
In India we still have those beads known as "kori" in our home temples offered to goddess laxmi (goddess of wealth and prosperity)
@Perixpwnz22 жыл бұрын
There is no recorded example of a society running on barter. This belief comes from a hypothetical example by Adam smith, where he explains the value of money. However, he provides no examples or evidence on where or when this happened
@romeocivilino66672 жыл бұрын
The Philippines has an history of Barter System amongst it's Peoples and it's neighbors. Most of the Notable trade Era is Gold during Pre-Colonial Times where Gold are exchanged with Goods from Foreign Traders. Then Silver Trade during Spanish Colonial Times.
@Zeromaus2 жыл бұрын
It's irrational to think that there wasn't barter -- it's our natural way of handling transactions that damn near every human falls back to..
@Tupadre972 жыл бұрын
nonsense. money itself is just barter with extra steps. no society "ran on barter" because the moment anyone bartered anything they immediately realized "money" or a medium of exchange was necessary to compare distinct goods to meaning that money has always existed as long as barter has existed and barter has existed as long as money existed.
@jerkjerkington3874 Жыл бұрын
I think the best way to understand the relationship between barter and money is the Team Fortress 2 community trade economy. There is no official money in TF2. But every week you can earn ten weapons by playing the game. Two weapons can be crafted into one scrap metal, three scrap makes one reclaimed metal, and three rec makes one refined metal. Thus ref is something that everyone in the game can produce by playing it, and it has universal application as a crafting material. Meanwhile everyone acquires crates, and these crates can only be opened with keys which can be purchased from the official store for $2.50. So the game has a wide variety of hats, crafting materials, weapons, unique hats and weapons, consumable items, skins, and killstreak kits, but if you hold any one specific hat or weapon or whatever, then there's no guarantee that everyone else will want it. So you _can_ trade one item for another item, and lots of people do, but if you want a commodity that has universal value, then your best option is either refined metal or keys. Thus, these two commodities, which have just as much practical functionality as anything else in the game, have essentially become "money" in a barter economy. Likewise, in places like rural America it is still common to see people trading favors, animals, machines, lumber, food, etc. Especially among friends. But as you deal with a more widely varied group of people, it becomes more useful to store your wealth in a commodity which is valuable in a broader set of situations. Hence why salt was such a common trade commodity in ancient times. It's non-perishable and everyone needs it.
@saltA-saurus2 жыл бұрын
2:06 we had to BARTER with people 😂😂
@CyrusBluebird Жыл бұрын
Money is a validated contract equavalent exchange for goods and/or services between two parties. So in a way it's the grease to make transactions quicker.
@gwho Жыл бұрын
it's unredeemed goods & services. like potential energy not yet turned into kinetic energy.
@HyenaMonkey2 жыл бұрын
That was a good video by the end. Some things I think you can improve on could be: -Your intonation when speaking at the beginning, it didn't feel that natural and I could tell you were trying to force. I think only practicing talking to a camera can make you feel more natural. -The thumbnail. I was on the discord, and I personally didn't think either thumbnail was that interesting. I feel like you could have told a more compelling story about maybe why money is fake, or even better, find something about money that not many people know about that is interesting, like how the federal bank can make money without anyone's permission. I'm not trying to back seat you or anything, just wanted to give my honest opinion, I like your videos and want you to make the best videos you possibly can
@leumasecir93692 жыл бұрын
Great song pick with Luigi's casino from Mario 64 DS
@sillycritic96492 жыл бұрын
Mr. Crabs would love this video
@PulseX10N2 жыл бұрын
And now we're at Pulse Chain. Let's go Pulse Chain! Coming within the week or so.
@mukhtar__2 жыл бұрын
im REALLY curious about what program u use to create your vids tho
@h0ser2 жыл бұрын
photoshop for the pictures and premiere pro to edit it all together
@bosnia-number-one2 жыл бұрын
In the west: You own money In Soviet Russia: Money owns you In Bosnia&Herzegovina: Nobody owns money and money owns nobody
@mangogo44Ай бұрын
In Russia squirrel's fur was used as money (and some other small animals fur) and later on came silver
@heetgala31882 жыл бұрын
Can you bring back the old thumbnail which was there for about 3-4 hours after the video got uploaded
@ninjasr2 жыл бұрын
Isn't the idea that barter preceded money a myth? I thought money was invented as a way to keep track of debts in ancient times, with it being invented by bureaucrats; becoming a medium of exchange later. If I recall correctly, pre-state and non-state societies actually have credit-based economies; barter being reserved for trade between strangers.
@TombaFanatic2 жыл бұрын
I think the mistake people make is that they draw a hard line between barter and money. "Money" gets invented almost immediately when people start to trade. Prisoners will trage cigarettes and cans of tuna in manner similar to cash, there's evidence obsidion was used as pre-agricultural money in some places. If there's a good you're bartering for the sole purpose of knowing other people want it, it starts fitting the role of money. Might take a few hundreds of years of development to get to our current point, but cash is as a natural feature of human trade even monkeys can quickly understand.
@UnitedJupiter912 жыл бұрын
I’ve seen more recent arguments that money began as a memory system to remember credit. Like Bob owes me 2 cows because I gave them to him when his herd was struggling, so I’ll keep these 2 shells as a reminder for both of us that he owes me 2 cows. This works very well because our small community all knows that Bob owes me 2 cows, and him not paying will have social consequences. Over time (generations), we realize that there are now too many people in our settlement to have social links that are strong enough to be an adequate punishment, so we all start agreeing that those shells represent real value and we assign a few people to make sure everyone is respecting those shells. Suddenly we have an early government and currency! Importantly, I was never bartering with Bob - I have him the cows on credit, not in exchange for equal goods. That credit could be payed back with 2 cows or maybe down the road, Bob will help me with my roof that needs repairing, or he’ll help me flirt with that girl I have a crush on. The important thing is that we settle our debt, but because our society is so small, there’s no need to have a rigid currency system.
@a-e36542 жыл бұрын
I mean, human civilization didnt start immediatly with banks and dollars, so technically it did.
@fellinuxvi35412 жыл бұрын
Yes and no, while your account is more historically correct, debts were a limitation on barter anyways, so it being invented to keep track of debt is somewhat the same as it evolving from trade.
@Tupadre972 жыл бұрын
no
@Troppau2 жыл бұрын
Grab that cash with both hands and make a stash
@KyleDB1502 жыл бұрын
How the hell do I never see these masterworks ads coming
@carlsoll Жыл бұрын
Money today is far less tangible, just vigorous record keeping by large institutions. All value is based on debt being paid back
@AustinAOkay Жыл бұрын
Gold and silver > “full faith and credit” For stored value
@aurorasun-qs1pg8 ай бұрын
Hah okay try paying your credit card debt with gold bars
@muiz61942 жыл бұрын
Pls make a South Africa VS the future
@sirkermitthefirstoffrogeth96222 жыл бұрын
Here you go my fellow south african. kzbin.info/www/bejne/bGLOYal-grGcfMU
@blurbysir2 жыл бұрын
He did it
@Cereal_Killer007 Жыл бұрын
Paper money doesnt come from trees, its not real paper. Its actually a mesh of different things but none of it is derived from wood
@jamiehughes55734 ай бұрын
Correct, US bank notes made of a blend of cotton and linen fibres
@soson0018 күн бұрын
Store value Nobody : People in Zimbabwe
@peterkart11852 жыл бұрын
Masterworks sounds like NFT's with extra steps
@CorvoFG2 жыл бұрын
Our money is made of plastic in the U.K. useless for the old ‘sniff sniff’ these days.
@AveryFB2 жыл бұрын
Is the music at the beginning from Paper Mario?
@freealter2 жыл бұрын
I thought this would be about the labor theory of value until I realized the title was literal
@jacquest26422 жыл бұрын
This bruv must have taken macroeconomics
@hjalmarfreidenvall16552 жыл бұрын
Neat
@safathoq23062 жыл бұрын
Money🤑🤑
@righteousviking Жыл бұрын
Spartan iron rods are coming back! You'll see!!!
@M4YPL32 жыл бұрын
8 minutes ago? damn I'm late sorry prof
@gwho Жыл бұрын
medium rare steak was such a good illutration
@depilot20352 жыл бұрын
0:06 does art also includes NFTs or no?
@pedropedrohan1022 жыл бұрын
no
@iamnotksi28472 жыл бұрын
ayo bhai ka pea sponsor mil gaya
@behroozkhaleghirad2 жыл бұрын
For me the only real money is gold and precious metals and stones. F the crypto currency and paper money which has nothing to back it up
@Zeromaus2 жыл бұрын
Crypto has plenty to back it up if you'd simply educate yourself
@behroozkhaleghirad2 жыл бұрын
@@Zeromaus name a few of those backups and educate me.
@Real_Mambo2 жыл бұрын
@@behroozkhaleghirad paper money is backed by gold
@behroozkhaleghirad2 жыл бұрын
It was. Gold standard means you have as much paper money as you have gold to back it up. There is no gold standard anymore. You have as much paper money as you can print
@flaglag76722 жыл бұрын
Paper money has the people and government agreeing it is real and useful. You like shiny rocks.
@omerkvancakdag68052 жыл бұрын
23 love you hoser
@normalperson410 Жыл бұрын
bro... the crypto section did not age well
@nicholashernandez43676 ай бұрын
I guess it depends on when you watch this video.
@whalisten2 жыл бұрын
Money is the most famous fic
@blertamitro2112 жыл бұрын
I like money
@AnonamemusHacker-yk2dh4 ай бұрын
Um actually before money communities would just give their tribe memebers stuff coz if they starved u starve bartering was mainly used when u knew u wouldn't see the person again
@CleosetricVlyers2 жыл бұрын
I think blood also has potential to be a money
@canthandlemelilbro2 жыл бұрын
Yes I found a line of code I’m rich 🤓
@ZealandNZ642 жыл бұрын
Why did you stop using Countryballs
@widodoakrom39382 жыл бұрын
Inovasiont
@invictor27612 жыл бұрын
@@widodoakrom3938 u
@bigbeaver79682 жыл бұрын
Didn’t he literally make a video on why NFTs are dumb and no he is saying to invest in artworks I don’t know something don’t seem right
@aurorasun-qs1pg8 ай бұрын
The crypto part did not age well!
@noam34202 жыл бұрын
5:44 imagine not using shekel
@diegoandre8881 Жыл бұрын
I thought this was a crypto pitch. Here’s your like since it wasnt.
@Playing096 Жыл бұрын
I am in the least popular h0ser video
@blurbysir2 жыл бұрын
Dollars are made of cotton no?
@durchfaII2 жыл бұрын
9:46 30K*
@luckierlime52452 жыл бұрын
the art thing is kinda incorrect why you gotta state it like its fact its just not
@mr.pokemon42042 жыл бұрын
Is this an excuse to talk about rice?
@Seti-ms9bs2 жыл бұрын
Honestly one of the worst videos from you. Inflation destroys savings and hurt poor people every day....... The only people fiat money benefits is government and those who the government are in debt too. Inflation is a tax.
@Ttegegg2 жыл бұрын
I guess japan didn’t existed
@mjhhhh5042 жыл бұрын
Please don't sell your soul🙏🙏🙏
@marioj21862 жыл бұрын
really poor choice for a sponsor. unsubscribed. nfts are already ridiculous but to buy fractions of paintings is absurd and you should feel stupid for picking such a dumb idea to push.
@WalterWhiteOfBeans2 жыл бұрын
Go back to videos about countries please
@Violet-os3vw2 жыл бұрын
4th
@jxq122 жыл бұрын
800th liker
@SuryaGD2 жыл бұрын
Early
@s1l3nttt2 жыл бұрын
Amazing video but at the end you say paper money is good because it's stable or contant and that's the exact opposite of reality. By the Keynesian economics model which all the central banks use, it tries to smooth out peaks and troughs by manipulating monetary policy as they please, prolonging the economical events and making them deeper. This is because this failed economic model assumes omniscient abilities and perfect timing.
@tanker00v252 жыл бұрын
Calling an economic model “failed" with no citations is definitely a crime
@s1l3nttt2 жыл бұрын
@@tanker00v25 yeah you're right, world's debt economy is going amazingly well, every time a financial crisis happens, it gets shallower and further apart as time goes on. Oh wait, 1930, 1970, 1980, 1987, 1990, 1992, 1994, 1997, 1998, 2000, 2001, 2008, 2010, 2014, 2019, 2020, 2021, 2022. OOF
@red-vg2ds2 жыл бұрын
@@s1l3nttt those are numbers not citations
@s1l3nttt2 жыл бұрын
@@red-vg2ds it's reality bud. You see what you want to. The citation is imperiacal data.
@s1l3nttt2 жыл бұрын
@@red-vg2ds kzbin.info/www/bejne/qXLYoqOZqbSkgpI here's the citation.
@ictoan59662 жыл бұрын
Bring back the Gold Standard
@xtopia97582 жыл бұрын
269th like
@christiaannel3302 жыл бұрын
Hiiiii (first)
@yusufiftyafshanhusanjr51252 жыл бұрын
Tldr money is nothing
@syntaxerorr2 жыл бұрын
lol
@Ebolachicken2 жыл бұрын
no thank you scammer
@sillycritic96492 жыл бұрын
Tf?
@sillycritic96492 жыл бұрын
What the hell do you mean scammer?
@tanker00v252 жыл бұрын
@@sillycritic9649 probably the advertisement in the beginning
@Real_Mambo2 жыл бұрын
@@tanker00v25 cant believe he used a sponsor to make a living and feed himself smh
@kiloofokdude61292 жыл бұрын
4:06 stop using evolution refrences to show, its a theory not a fact!!!!!! we did not evolve and nothing did, they use it to say god does not exist, such cry hards bro< indeed god created us!!
@carsonpiano1 Жыл бұрын
Bruh
@JoelJernbergPalm Жыл бұрын
I don't remember being a monkey
@jullietmburu9672 Жыл бұрын
@@carsonpiano1 😂😂😂 I feel your frustration
@youtube79z2 жыл бұрын
dollar is a social construct
@VVabsa2 жыл бұрын
All fiat money is a social construct. Gold is is better as currency.
@Awimpyman692 жыл бұрын
*makes a video about why NFTs are dumb* *advertises art investments*