What is currency? It's taken many different forms over the centuries�from salt and shells to beads and livestock. In this episode of Cash Course, your middle and high school students will learn what currency is, how to use it, and what makes it valuable.
Cash Course is a fun and educational show highlighting the importance of money management and financial literacy for grades 6+.
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in some parts of africa midle east and asia they still use salt as currency.
gold was used for coins, but only the very largest denominations and were not common, the most common were coper coins, for the smalest denominations and silver, silver was actualy the most common, for the most common and high denominations.
@joemacy2776 Says:
One of the things that this video didn't mention is the fact that most money around the world nowadays simply exists as numbers in computers. Physical currency only makes up a very small percentage of the total money supply.
@samuel08790 Says:
most of the money is not paper, it’s number store in digital form by bank.
@majorburke9735 Says:
The conclusion is misleading and almost silly.
Real money, like gold or silver, has value in and of itself. Gold or silver back notes are just as valuable. Fiat currency has no inherent value.
The way this video was explained would lead people to think gold has no value.
Plus, you don’t need a government to have currency. Banks used to offer their own Notes, based on the gold and silver in their vault.
The biggest theft in the world occurred in the early 1930s when our government confiscated our gold.
When Nixon took us off the gold standard, all the gold at Fort Knox should’ve been redistributed back to Americans. The gold does not belong to the government.
@thedonkeypuncher2395 Says:
Counterfeit is when you try to make fake money that someone else owns such as the dollar, you can make your own currency but you need people to use it and believe it has value just like the dollar.
@samuelreese6357 Says:
Money are 0s and 1s in a computer that our central bank overlords create trillions of and redistribute among themselves and other elites, thus devaluing our existing meager wealth.
@gavingleemonex3898 Says:
I don't disagree that money is less an asset and more of a tool. The thing is uh..... you don't get to decide for me how I use my tools. I get to make that decision, yeah?
@koreanelvis Says:
I have enjoyed all of your cash course episodes so far, but this one leaves a detail with a loose end: The Gold Standard. Please do a video on that since there are countries (China, India, the UK, and now Russia) who using The Gold Standard. Thank you PragerU for your educational videos.
@wdd3141 Says:
.maybe there's an arbitrary "value" to our fiat currency, but I don't trust the Federal Reserve system of these essentially promissory notes, so I'm putting some of my savings into precious metal bullion.
@aaronfreeman5264 Says:
Best media of exchange are Cigarettes and Whiskey and Wild Wild Women, since each have value, and are portable, but nobody should ever consume them.
@Saffy1 Says:
Why is there so many different kinds of money ? What's the point ?
@whousa642 Says:
Pu makes many great videos. This one is awful. There are many fallacies. One that only government can make reliable money. In fact, it is the opposite. PU needs to delete and redo this garbage.
@cynicg Says:
So simple yet so misunderstood.
@bramhuysen5907 Says:
The background music is horrible, irritating and useless. It is also too loud. If you really want to have music in your videos, choose something nice and melodious, not that kind of cheap commercial rubbish.
@Bgrosz1 Says:
A country's wealth is determined by its productivity and has zero to do with how much money they print.
Let's look at an island that has 5 homes, 10 chairs and 2 boats as its wealth, and $2000 in total money.
Now, increase the money supply to $4000. Did the total wealth of the island increase? No, it's exactly the same, although everything now costs twice as much.
Now put the money supply back to $20000 but double the number of items that can be bought so you have 10 homes, 20 chairs, and 4 boats.
Did the wealth of the island increase? Yes, it exactly doubled.
No matter how much you tinker with the money supply, the total wealth of the island is unchanged. If you increase productivity so there is more stuff to buy, then you increase wealth. If you decrease productivity such that there is less stuff to buy, then you decrease wealth.
Wealth is entirely determined by productivity. Anything that motivates people to be more productive will increase the wealth of the country. Anything that decreases the motivation of people to be productive will decrease the wealth of the country.
This is why capitalism is a spectacular success and socialism is an epic failure. Capitalism maximizes the motivation to be productive while socialism destroys any incentives to being productive.
@karozans Says:
This was pretty good right up until the video said the government is supposed to stop people from cr34tlng their ovvn currency because it devalues it.
The FF never wanted a centralized bank, and the US dollar has been devalued 98% since the year 1900.
@Quimper111 Says:
And then there's Bitcoin, that corresponds to no effort that creates value for society, and is not regulated by the government. >:(
@tomster7574 Says:
there was some very important details how it turned into paper money. should have paid more attention to the promissory notes from a bank in exchange from gold or other deposits and liens and such against your own property and its value in farming or manufacturing etc. so that every vendor of whatever product they had to exchange didnt have to go to every other vendor if they wanted that product in particular. ie, potatoes for shoes, then potatoes for clothes, then potatoes for furniture etc etc as not everyone wants potatoes or already have potatoes and dont need any more of yours.
cash isnt just printed money, its a note from the bank making the promise of its value. that you use to buy whatever goods and services from whoever who then deposit the banks promises written on notes.
it really is just a barter system simplified.
everyone barters their goods and services thru the bank. the bank is like a farmers market. you enter with your goods, they are valued at x amount of value, that value is written on notes, while you exchange your notes for other goods, others exchange their notes for your goods, hopefully. if no one wants your goods, you take them back home.
now we do it in the same way, except the entire biz world is the farmers market.
the problem with the gov controlling the printing of the notes is that the more they print the less value of each note is worth. telling the people that the value hasnt changed, to compensate the people ask for more notes for their goods in return. that is part of what causes inflation. [the biggest reason for inflation is when vendors try to get a little ahead of the rest with small increases to their goods, eventually all the other vendors do the same to catch up and then again to get a tiny bit ahead]
money isnt just printed without value. its only ever printed for exchange of promised value.
@Paladin1873 Says:
We had a family friend who served as a Sherman tank commander in WWII and stayed in Germany after the war for about a year. He once told me the German economy was in such a shambles that the Reichsmark was nearly worthless and the Allied Military Currency was not trusted except as cigarette wrappers. As a result, the most popular and convenient trade currency on the black market was cigarettes. He didn't smoke, but his Army K-rations contained four cigarettes, so he saved them for barter with Germans and made out like a bandit.
@malone7655 Says:
Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy 😊I have been earning $ 60,000 returns from my $7,000 investment every 12days.
@ogbevalentine4160 Says:
Wow, well made. I wish you touched crypto a bit, all thesame, good video.
@libertyforever9294 Says:
Who put this whole video together a second grader? There is a gigantic difference between currency and money. It’s obvious the people who put this video together do not know the difference. Money holds its value over long periods of time i.e. gold, silver. Currency does not, paper shells, and crap like that that is not rare in the United States we use fiat currency pieces of paper that they’re becoming more worthless every day gold and silver do not do that they hold their value that is why they are called money and not currency if you want to really know what currency is in what money is just watch Mike Maloney’s videos here on YouTube. Not this second grade diatribe.
@14lou Says:
Fancy that, a video about currency without a Bitcoin mention. How utterly lacking not to cover the first successful money creation outside of the realm that is decentralised, permissionless, censorship-resistant and unconfiscatable.
@KeithBarnett Says:
Now it’s going all digital and using are phones to pay for things
@rightwired Says:
I've been to that Tokyo neighborhood she's standing maybe 40 times... it's called Akihabara ...lol it's the only place that accepts USD.
@TickedOffPriest Says:
To get a salary, you need to be worth your salt.
@merlinwizard1000 Says:
28th, 23 November 2022
@wheelersway Says:
Wrong on many levels. Currency is not Money. Gold and silver are monies, dollars are currency
@tcapo514 Says:
IF YOUR WOKE YOUR BROKE.
@moriorinvictus Says:
So the Federal Reserve counterfeits money daily, they just call it "quantitative easing", aka inflation.
@tcapo514 Says:
Don't tell me Prager University has gone WOKE.
Couldn't you find a real MAN to do that 1:48
I am offended one more video like this and I will not donate to PU anymore.🤣🤣🤣🤣🤣👍💨💨💨💨
PSYCH
@ByTheGram Says:
Currency is an unfortunate necessity because the powerful can utilize it to control the masses in certain instances.
@ColeDedhand Says:
When you or I print a valueless $20 bill it dilutes the money supply a little and that is a crime because. But when the government prints billions of valueless dollars that dilute the money supply drastically, making every dollar you earn or have saved worth less, that's just fine.'
@WomenLivingTorah Says:
Speaking of currency: Dale Carnegie wrote a book called ‘Lincoln Unknown,’ a biography of Abraham Lincoln as I have never heard it. In it, he states that Lincoln’s father sold their land for somewhere around 400-500 gallons of whiskey. 😮
@ChaosAngelZero Says:
If salt is money then buying Twitter probably made Elon Musk into an octallionare.
@alonpeleg77 Says:
This is a bunch of lies. Bartering isn't a real form of pre- corrency trade system. No anthropological, historical or archeological evidence to support this and lots to the contrary.
@jameshildebrand907 Says:
I always enjoyed Adam Smith's "Wealth of Nations" section in which he explained the specialization of labour and foundation of currency. Unfortunately for many today, the language Adam Smith used is foreign and makes his book difficult for them to comprehend.
@reprimand33 Says:
There is difference between money and currency
@ralegade7710 Says:
Three loaves of bread for 2 pounds of meat? That baker is a hustler.
@felipeherrerasalinas9488 Says:
Quantitative easing, printing extra money, is dilution too.
@ryanmarin440 Says:
Dogecoin solves all of this. Peer-to-peer transactions. fast and super cheep
@ryanmarin440 Says:
SOOOOOOOOOOOOOOOOOOOOOO....... you mean DOGECOIN!!!! do only good everyday!
@robinj.9329 Says:
And that's why my Grandfather still had several thousand dollars worth of U.S. Gold coins hidden away when he died in 1994!
It was worth many, many times face value. Whereas simple paper notes would have lost value!!!
Give me gold and silver every time.
@dikduk Says:
Currency is a social construct to trade and store value.
@marshall4759 Says:
Based on trustworthiness of the Government still "some" risk.
@SlimThrull Says:
Currency is a tool used to trade one thing for another.
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