Coins are different sizes so they can be told apart more easily, not because some conspiracy scheme. The banknotes in a lot of countries are also different sizes (I don't know why US dollars are the same size for every denomination) so they can be told apart more easily.
.... that's a factor, but so is the original amount of actual valuable material that they were made out of, you know, in the thousands of years of human history that didn;'t involve centralized banks and fiat currency.
Good video. Ive always found money fascinating. Yes it is a token, and that silver is more valuable than the value stamped on it, it has been recalled and replaced with a material that is less than the symbolic value stamped on it. The ultimate lie is the number stamped on the note or the coin.
No problem. I used to be a hard-core communist liberal until I realized that they're a bunch of fucknut retards, who have a great theory as an agenda, but not a good practical one.
They might have to force me to take it. What the crap does silver matter to me? Money is just an exchange token to me, a representation of value that is understood. Gold is just another worthless tradition like religions and superstitions. Iron is more useful than gold. I take tokens because others do. Hell, most of my "money" is virtual. It exists as bits and bytes in my bank's computer systems. And that is a running tally of my work. So I'm confounded by your... Logic, shall we call it?
I think the problem is I want to be a post-monetarist. "Money" itself is essentially virtual. Such a thing does not exist. It's all a pantomime exchange medium that we agree ties back to a tangible thing. A patch of land, a thing, our own work. When I work for two weeks I get a piece of paper with numbers. I take that to a bank, which puts those numbers into a computer, adding it to more numbers. Those numbers can be traded, via a plastic card, for goods and services. Without the use of "money."
I would prefer a commodity standard for our currency, for the reasons I laid out in the video. Money is something that is actually valuable, isn't numbers in a computer doesn't seem like it would work, but hey, I have an open mind. I would entertain the idea, if it were something that was actually in demand, not something forced by a state.
It was a bit difficult for me to articulate it. "money" isn't valuable at all. I have no use for gold or silver. I'd have more use with bread and a knife. But I can't distill multiple hours of working into a liquid to exchange for such. So I need a counter, yes, a token, to represent such. Perhaps it's just because I perform tangible labor that this makes sense to me. I know that my tokens represent real value, because I worked for that value. It gets nebulous for stocks and bonuses.
The confidence that something can easily be exchanged for something you want is itself, a value. Money benefits from a "network effect" in that it becomes more useful as more people use it because it means you are able to trade more things for it.
Ahh, indeed. But it must be understood and agreed upon, and reasonably widespread throughout a predetermined area. There also need to be things in place to ensure that all such tokens are standardized, and reasonably real, that they represent a single value depending on appearance and that the value is fixed. A shaved coin can still look like a normal coin, and spends like one. Multiple currencies would be hazardous at best, within a single territory.
Not necessarily. 3rd parties could verify the weight and fineness of the coins. It could be done by a company that specializes in it or when you go to the store.
As for clipped coins, that's what the ridges on them are for. Today it hardly matters because our coins are worth less and less.
Anyways, private mints have worked before. Look on youtube for "The Private Supply of Money"
Please correct me if I'm wrong, but isn't the reason we use "tokens"(As you put it) these days, not only in America, but worldwide, is because there is just not enough precious metal to keep an adequate money supply for the growing global economy?
I am not suggesting that we go right back to what we had, we can figure out other things that can store value and it doesn't necessarily have to be gold and silver, those are just the ones we have used in the past. The point is to have a currency that is actually based on something real, and not just tokens and worthless paper that the government forces you to take.
I can see where you're coming from, but to be frank, while I would not mind finding better means to store value than the current system, I don't really see that happening anytime soon.
Also, you have to keep in mind that over 90% of money that is in circulation doesn't even exist on paper or coins, but is circulated electronically and exist only as computer data. So with all that in mind, without resorting to barter, I don't really see a non-faith-based currency forming anytime soon.
Faith-based is not nearly as bad as force based. The whole point is, if the currency is actually worth something, you do not need to force people to take it, nor should you be.
As a numismatist I would reccommend collecting and preserving coins for their collector's value rather than the value of the metal in them. It saddens me to see people melting-down antique or collectable coins without first considering their historic value.
I've been collecting coins, as well as paper money since I was about 6. It is sad indeed seeing coins and paper money that goes out of circulations being melted and burned, when it has so much potential value, especially historical.
I have tens of old Israeli coins from the 70's in my collection, which I might want to sell and trade. Do you know any good place online where I might be able to do it?
I'd like to help you but I'm afraid my particular field of interest is pre-decimal UK and Ireland/Eire coins. I would suggest consulting a local dealer who will be able to help you with grading and/or valuation themselves.
Because your coins are so recent they probably aren't worth a huge amount unless any of them are scarce/rare or have minting errors.
I'd be interested if you could PM me some more info on your collection.
Cupro-Nickel replaced silver in coins in the and the US because they were overvalued, i.e. the materials in the coins were worth more than its face value. This has happened numerous times in many countries over hundreds of years. It was not just because of the introduction of fractional reserve banking.
Going back to a gold-standard seems like a nice idea but is flawed for several reasons. Most notably the global economy is worth more than all the precious metals in the world.
I'm not advocating specifically a gold standard, but a commodity standard definitely. At the very least, the government should not have a monopoly on currency, and should not have to force you to accept whatever they want you to. The currency needs to actually have a value based on something real, so there is no need for the government to force people to use it, and they can't be nearly as irresponsible with it.
I have to agree. I'm currently writing my MSc thesis on endogenous growth theory and technology entrepreneursip so it's something I'm quite interested in.
In my opinion, throughout the recent recession the focus has been on speculative finance while the REAL economy (people, jobs, intellectual property, knowledge, technology etc.) has taken second billing. I believe that currency should represent the value of these tangible commodities more than exogenous factors a bit more than it does now.
Coins are different sizes so they can be told apart more easily, not because some conspiracy scheme. The banknotes in a lot of countries are also different sizes (I don't know why US dollars are the same size for every denomination) so they can be told apart more easily.
ShwangShwing 1 year ago
@ShwangShwing
.... that's a factor, but so is the original amount of actual valuable material that they were made out of, you know, in the thousands of years of human history that didn;'t involve centralized banks and fiat currency.
FearsEdge 1 year ago
A large problem is that the value of the silver-coin is dependent on the value of the metal.
And the value of the metal is in a significant part higher that it would be if not used in the monetary system.
There would simply be more gold and silver around for their applications in jewelery, science and whatever you would want to use gold in.
peope1976 1 year ago
Good video. Ive always found money fascinating. Yes it is a token, and that silver is more valuable than the value stamped on it, it has been recalled and replaced with a material that is less than the symbolic value stamped on it. The ultimate lie is the number stamped on the note or the coin.
ChewySatisfaction 2 years ago
Great video, dude. I'm gonna subscribe to you because you're a cool guy.
We need less government involvement and more personal responsibility.
GreenEyedFilipino 2 years ago
M8 thats the best statement Ive read in a long time.
ChewySatisfaction 2 years ago
No problem. I used to be a hard-core communist liberal until I realized that they're a bunch of fucknut retards, who have a great theory as an agenda, but not a good practical one.
GreenEyedFilipino 2 years ago
They might have to force me to take it. What the crap does silver matter to me? Money is just an exchange token to me, a representation of value that is understood. Gold is just another worthless tradition like religions and superstitions. Iron is more useful than gold. I take tokens because others do. Hell, most of my "money" is virtual. It exists as bits and bytes in my bank's computer systems. And that is a running tally of my work. So I'm confounded by your... Logic, shall we call it?
GabrieLaVedier 2 years ago
What is confounding you? I might be able to explain further.
FearsEdge 2 years ago
I think the problem is I want to be a post-monetarist. "Money" itself is essentially virtual. Such a thing does not exist. It's all a pantomime exchange medium that we agree ties back to a tangible thing. A patch of land, a thing, our own work. When I work for two weeks I get a piece of paper with numbers. I take that to a bank, which puts those numbers into a computer, adding it to more numbers. Those numbers can be traded, via a plastic card, for goods and services. Without the use of "money."
GabrieLaVedier 2 years ago
That's more like a statement than a question.
I would prefer a commodity standard for our currency, for the reasons I laid out in the video. Money is something that is actually valuable, isn't numbers in a computer doesn't seem like it would work, but hey, I have an open mind. I would entertain the idea, if it were something that was actually in demand, not something forced by a state.
FearsEdge 2 years ago
It was a bit difficult for me to articulate it. "money" isn't valuable at all. I have no use for gold or silver. I'd have more use with bread and a knife. But I can't distill multiple hours of working into a liquid to exchange for such. So I need a counter, yes, a token, to represent such. Perhaps it's just because I perform tangible labor that this makes sense to me. I know that my tokens represent real value, because I worked for that value. It gets nebulous for stocks and bonuses.
GabrieLaVedier 2 years ago
The confidence that something can easily be exchanged for something you want is itself, a value. Money benefits from a "network effect" in that it becomes more useful as more people use it because it means you are able to trade more things for it.
stealthswimmer 2 years ago
Ahh, indeed. But it must be understood and agreed upon, and reasonably widespread throughout a predetermined area. There also need to be things in place to ensure that all such tokens are standardized, and reasonably real, that they represent a single value depending on appearance and that the value is fixed. A shaved coin can still look like a normal coin, and spends like one. Multiple currencies would be hazardous at best, within a single territory.
GabrieLaVedier 2 years ago
Not necessarily. 3rd parties could verify the weight and fineness of the coins. It could be done by a company that specializes in it or when you go to the store.
As for clipped coins, that's what the ridges on them are for. Today it hardly matters because our coins are worth less and less.
Anyways, private mints have worked before. Look on youtube for "The Private Supply of Money"
stealthswimmer 2 years ago
I save using silver coins. Look up,
libertydollar
freelakotabank
anubis2814 2 years ago
A coin that is worth alot I hear because of the hole in it is the pre euro spanish pesata. I have loads left from an old holidays some years back...
lordmartyn22 2 years ago
My mom has a shit ton of silver quarters. Interesting video, sir.
b3rtne 2 years ago
Good info, getting people to think about something they generally take for granted.
Khayd4126 2 years ago
Interesting and informative.
Please correct me if I'm wrong, but isn't the reason we use "tokens"(As you put it) these days, not only in America, but worldwide, is because there is just not enough precious metal to keep an adequate money supply for the growing global economy?
Akatam0t0ma 2 years ago
I am not suggesting that we go right back to what we had, we can figure out other things that can store value and it doesn't necessarily have to be gold and silver, those are just the ones we have used in the past. The point is to have a currency that is actually based on something real, and not just tokens and worthless paper that the government forces you to take.
FearsEdge 2 years ago
I can see where you're coming from, but to be frank, while I would not mind finding better means to store value than the current system, I don't really see that happening anytime soon.
Also, you have to keep in mind that over 90% of money that is in circulation doesn't even exist on paper or coins, but is circulated electronically and exist only as computer data. So with all that in mind, without resorting to barter, I don't really see a non-faith-based currency forming anytime soon.
Akatam0t0ma 2 years ago
Faith-based is not nearly as bad as force based. The whole point is, if the currency is actually worth something, you do not need to force people to take it, nor should you be.
FearsEdge 2 years ago
I intend to buy troy ounce gold and platinum whenever I can afford to do so.
TheAtheistPaladin 2 years ago
Do you have pennies in the States??? I didn't know.
pilgrimpater 2 years ago
Very interesting and informative.
dannypantsgm 2 years ago
As a numismatist I would reccommend collecting and preserving coins for their collector's value rather than the value of the metal in them. It saddens me to see people melting-down antique or collectable coins without first considering their historic value.
hadr0n 2 years ago
@hadr0n... I think it would be interesting to hear about this from the perspective of a collector, or enthusiast.
tattooskin72 2 years ago
I'll make a video response if I can find the time.
hadr0n 2 years ago
I've been collecting coins, as well as paper money since I was about 6. It is sad indeed seeing coins and paper money that goes out of circulations being melted and burned, when it has so much potential value, especially historical.
I have tens of old Israeli coins from the 70's in my collection, which I might want to sell and trade. Do you know any good place online where I might be able to do it?
Akatam0t0ma 2 years ago
I'd like to help you but I'm afraid my particular field of interest is pre-decimal UK and Ireland/Eire coins. I would suggest consulting a local dealer who will be able to help you with grading and/or valuation themselves.
Because your coins are so recent they probably aren't worth a huge amount unless any of them are scarce/rare or have minting errors.
I'd be interested if you could PM me some more info on your collection.
hadr0n 2 years ago
Cupro-Nickel replaced silver in coins in the and the US because they were overvalued, i.e. the materials in the coins were worth more than its face value. This has happened numerous times in many countries over hundreds of years. It was not just because of the introduction of fractional reserve banking.
Going back to a gold-standard seems like a nice idea but is flawed for several reasons. Most notably the global economy is worth more than all the precious metals in the world.
hadr0n 2 years ago
I'm not advocating specifically a gold standard, but a commodity standard definitely. At the very least, the government should not have a monopoly on currency, and should not have to force you to accept whatever they want you to. The currency needs to actually have a value based on something real, so there is no need for the government to force people to use it, and they can't be nearly as irresponsible with it.
FearsEdge 2 years ago
I have to agree. I'm currently writing my MSc thesis on endogenous growth theory and technology entrepreneursip so it's something I'm quite interested in.
In my opinion, throughout the recent recession the focus has been on speculative finance while the REAL economy (people, jobs, intellectual property, knowledge, technology etc.) has taken second billing. I believe that currency should represent the value of these tangible commodities more than exogenous factors a bit more than it does now.
hadr0n 2 years ago
Sorry about the poor grammar, I ran out of space. ;)
hadr0n 2 years ago
"Most notably the global economy is worth more than all the precious metals in the world. "
Egg-fucking-zacktly!
Akatam0t0ma 2 years ago
Great video.
silentbob36 2 years ago