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The History of Paper Money – Working out the Kinks – Extra History – #5
The History of Paper Money – Working out the Kinks – Extra History – #5
November 3, 2019
Frank Sharpe
ArticlesBlog
Tagged with bank, bank charter act, bank notes, bank of england, bank run, banking, central bank, daniel floyd, Documentary, economic history, economics, educational, extra credits, extra credits history, extra history, fractional reserve, fractional reserve banking, gold, gold standard, history, history lesson, history of economics, history of money, history of paper money, investment, james portnow, learn, legal tender, lesson, money history, paper money, study, that, the, treasury notes, world history
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The Swedish Central Bank disagrees.
You ask jesus for shells and gunpowder
In my opinion, the puns are the best part.
WWBJD
Kinky.
When Argentina had one of its regular crisis back in 2001, almost every province has its own paralel currency like you explain at the start of the video.
The Central Banks are not good. You should extend to covering crypto currency and how it strips all the power of governments and gives it back to the people. 👍👍
We we werewolves
Fractional reserve banking is nothing less than criminal!
It was Walpole.
It’s always Walpole.
The fact that Britain is constantly in debt in this series is kinda funny.
I mean first the South Sea Bubble and now The History of Paper Money.
"I'll take 242 dollars."
7:45 I'd play that game.
But if central bank abolish gold & silver.what if happen?
yep. time to go back to Spartan money. large iron rods
lol the fertilizer…. just makes me think of fallout… thinking about it. fertilizer is more or less the measure of wealth for my empire. (playing as Walter white jet cook) lol.
I first thought the CB on the bank photos stood for Casus Beli
Please deposit 5 coins
New drinking game
Take a drink every time he says bank or banking.
You'll be dead by 7 minutes in
If you choose not to play the drinking game however, the word bank will loose all meaning to you by that same time stamp.
7:25 that dude will have major back problems
Jesus give me more bread and fish
End the FED
5:54 umm look at 2
credit cards
Watching this series after just having read Making Money by Terry Pratchett was eye opening. He must have done just as much, if not more, research than you did to write that book. Everything in his novel is covered here, from runs on the bank to what happens when people stop trusting them. Astounding…
7:19 What’s especially tragic about bank runs is that they’re largely self-fulfilling prophecies. The bank collapses because everyone’s rushing to get their money before it collapses; if people just would keep calm and carry on, they wouldn’t have any issue.
Britain is pretty much ALWAYS massively in debt. They even are now lol.
3:09 “…leaving you probably a bit less than jazzed about this whole “paper money” thing.” I don’t know what you think, but that visual pun has to be one of the funniest things in Extra History. Also I love the “Shells (the deadly kind)” sign at 4:18.
can u plz do an episode on indian history too…
So, the banks are "too big to fail"?
2008 would like a word with you.
3:15 were doues all the lines come from?? Why is it always in mouny
Foreshadowing of the Great Depression.
The banks are ever more precariously in debt. Problem? Nah, great solution!
That comment at the end "join us next time as we wrap up the history of paper money" was a pun, wasn't it?
4:25 wut?
how do you draw these stick men ?
Central banks are cancer
Ask Jesus for more bread and Fish 😂👍🏼
4:18 oh you mean red shells?
While talking about how banks collapse anyone think about George Bailey.
now we are moving to digital money.
Debt based currency 💱
FIAT! TOILET PAPER
TIS THE GIFT TO BE SIMPLE!!!!!!!!
ACTRAISER!!!!!
Didn’t you say in the last part hat this will be final part? Why i am seeing another part than? 🤔
History of Bitcoin guys? 😀
8:53 precisely how faith works.
How to have a stable currency for a small country.
1. Make a few billion of your money source.
2.hand it out and use a graph to find out how much your money source is worth in your country.
3. Make sure you keep an almost constant equal money source.
4. Don’t be greedy and your all good.
so it wasnt a massive illermnati conspiracy after all
What ive learned is banks and bankers are a virus
3:23 you wrote "organic" wrong in Japanese
but hey very nice videos
EVERY BODY ATTACK THE BANKS TAKE THE MONEY BACK
GIVE OUR MONEY BACK!
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And by abandoning the gold standard, we're now racked in debt we can never repay and one day, everything will come collapsing down in a collapse that will make the Great Depression look like a minor period of poverty.
In northern Ireland they have bank of Ireland pounds which are accepted in northern Ireland but refused in the rest of the UK, bank of England pounds are used in northern Ireland as well as bank of Ireland pounds
Fractional reserve banking is an awful idea… it doesn't follow basic economics and causes inflation in the process.
Bank,bank,BANKS!!
Drink for everytime he says Bank
Hm someone nearly succeeded to initiating a bank run on one of the bigger banks in my country, using the panic that one big bank went belly up and declared bankruptcy, about a month earlier. I remember that the company I worked for deposited its cash trough that bank, but the boss decided to wait and see if withdrawal was necessary and many of my colleges who had accounts in that bank withdrew as much as possible. The whole thing blew over in a couple of days. But that sort of thing can topple an economy easily, not that my country economy isn't shit to begin with.
Anit-gold propaganda!
I hear some people says, hording their gold, waiting for the world to end.
So you're telling me I can probably go on the internet and buy an Irish pound sterling note right now…?
I want.
4:25 Letter B is "Ask Jesus for more bread and fish"
😂😂😂
Omg part 5!!!!!!!
In other words whoever runs the banks,runs the country…..
"Working out the kinks", eh?
My kink is women whom work out.
0:42
That's a hilarious frame.
"-but you're using it!"
LOL
I think we need a video on the modern international currency exchange, it'd be very informational
i like hiw they had to specify it was the deadly kind of shells
VowForABetterEnvironment nectar so most of the organic honey Biofuel Lumber 75+cotton+25+linen copper+brass+coin+blanks platinum+silver+coin+blanks silver+nickel+powder
"But you're using it!"
gold and silver have no value in my eyes.
Did you know the swedish bank is one of the oldest its even 25 yeas older then the bank of england 🙂
Love this series!! Really interesting, and brilliant explanations!!
Why do I think that notes from those few banks in Scotland and Ireland are worth more as collectors items than for daily use?
They should’ve also told the corrupt history of the Rothschild family and how they rose to power through their manipulation of fractional reserve banking.
The links to the outro music are dead and i really need a copy of that song
Britain is so strong and stable, wow
I'm following one of your playlist and it is nice. Only source are missing and that's a pity.
0:41 Look at right
3:57 omg that's both hilarious and adorable
Hmm some of the stories have similar outcome like
Someone weak and poor became powerful and rich then when that guy dies his or her sons or daughters can't support his kingdom
Central banks solve some problems, but cause even bigger problems
Money is an illusion
… Why do I get the feeling that in a few generations, the the reserve Banking system will crash into oblivions and those future generations are going to stumble unto these clips that keeps declaring these banking systems as "GREAT THINGS" and laugh themselves to death over how naive those views were…?
Hoarding money because of lack of trust in government is what is still happening in the country where I live and it is only starting to change. It is only a couple of years ago when a police chief living near my house lost $10,000 to thieves because he didn't trust the bank, i.e. the government not ceasing the money at any time: people haven't forgotten.
Of course, the majority of population is either paid weekly and live from paycheck to paycheck and bank branches only cover a minority of the country making them unusable for most.
Kinda glossed over the downside of the link between the central bank and government.
Via great recession
What is the name of the banks not under the Bank of England? I’m interested in buying a banknote or 2
Cheers 👍 🎉😎 Thanks
I can say good history video and also pointed out another reason why the past sucked as you told the problems of the system. Really makes people think.
Also, keep in mind that "organic" is a scam.
So there's something my economics professors never really explained to me:
Suppose the Federal Reserve creates $1B. They lend that to banks at .25% interest. The banks lend that out to people, businesses, etc., for around 10% interest. Some people buy a house, others start a business. The people with their houses have jobs at business that try to make a profit and pay off their debts. But as everyone pays off their loan with interest, where do they get the money to cover the interest? It seems that, by design, there will always be more debt than money in circulation. But how would that work?
I don't need to worry about a bank run because I never have any money to put in the bank …
Tis the gift to be simple, tis the gift to be free….
no one:
the korean won: not stonks
6:50 I know what happens, more economic downturn
Hi
Its a scam
The gold bugs are not out in full force. I thought they would be because this is a true history of why their pet idea is so stupid. Huzzah! Talking to gold bugs is like talking to gun nuts, flat-earthers or anti-vaxxers–people totally divorced from reality and stuck in their respective la-la-lands of stupidity.
In Scotland we have the Bank of Scotland and the royal bank of Scotland it’s so confusing
A central bank is a bigger threat to the freedom of a people than a standing army.
In Hong Kong as of at least 2011, there were private banks issuing Hong Kong currency.