The History of Paper Money - Origins of Exchange - Extra History - #1

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Information The History of Paper Money - Origins of Exchange - Extra History - #1

Title	:	The History of Paper Money - Origins of Exchange - Extra History - #1
Lasting	:	8.14
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Views	:	3 jt

i could make you chase down a gold coin like a dog by throwing it and saying its gold I like the video but wouldnt call precious metals outdated
Comment from : Orion Elenbaas

The idea of barter societies is just a metaphor used economics 101 textbooks to introduce principles like Coincidence Of Wants, but it never actually existed We went directly from ecumenical sharing to having money every time a culture went through that shift Due to the Dissonance Principle because people bought into the idea in order to grasp economics, they think it is true and try to defend it, but it was never meant as a statement of hidtorical fact
Comment from : Andrew Johnson

US dollars are made of linnen and cotton, not paper
Comment from : Ryan Bianchi

Trade was also very successful due to improvements in preservation Like salted fish for dry corn for example
Comment from : Adrian k

MY PEOPLE HELD INTERNATIONAL CURRENCYAS TRADEOFTEN KIAH UNIVERSE CHILDREN BECAME A POPULAR TRADE
Comment from : Pariah - Words Matter

The difference in mic quality between shorts and normal videos is staggering
Comment from : Gerald Tucker

That was a mind game played on people paper can buy gold thats crazy
Comment from : Robert Dobynes

Nah, cash is still king in my eyes
Comment from : ☦ Kelly Shea

In basic training we used cough drops as money
Comment from : 1Ring 42

Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realize that the money you thought you had, has finished Investment is key, I pray that anyone who reads this will be successful in life
Comment from : Yassine Khaoua

Oil Standard would be the best modern equivalent Currency somewhat are, but should formally be pegged to Oil (If EVs ever work out, RIP banks)
Comment from : Paul Blichmann

Get paid in money literally worth gold Pay your workers in money worth less than half that Tell them they got a great deal 😜🤣🤣🤣
Comment from : Paul Blichmann

Am glad i grew my portfolio from 17k to 100k last month inside my wallet without sending a dime to anyone through the help of Mrs Charlotte margit
Comment from : Thomas Prochaska

Plot twist: that underwater stone for Yap does not exist
Comment from : Some Generic SCP Nu-7 Soldier

Is this Patchman?
Comment from : Raymondo Beukes

एश्वर्या खूप सुंदर video zala aahe Thank so much tu aamhala बोलवले khup chan vatle❤
Comment from : yash

6:52 : Havok is my favorite member of the X-Men Just sayin'
Comment from : rogermwilcox

ITS FABRIC
Comment from : GallantGreatWestern

1:48 I laughed out loud at that "if I don't want you stupid food" brbrIt was so unecessary and out of nowhere hahah
Comment from : Google Account

This overlooks the possibility (if not likelhihood) of role-obligation style production: the shirtmaker makes shirts for everyone, so no one ever needs to 'trade' for one, and the shirtmaker doesn't worry about growing food so they can focus on making shirts Modern terminology would call this 'to each according to need, from each according to ability' and that's probably more correct considering the level of specialisation of labor we're talking (somewhat, but nothing remotely like modern specialisations) than it could be today
Comment from : FishFeed

Commodity money still works beautifully It's only a "problem" with mega-international trade and people who want to print unlimited money for their own benefit Modern fiat money is subject to inflation (read: theft of value for the working classes) on a scale and pervasiveness not possible for commodity money Fiat money is also highly unstable and subject to unpredictable ebbs and flows from deflation to hyperinflation The only people fiat money benefits is the capitalist classes
Comment from : Theo

Fun fact: there are only 15,000 Yapese people in the world, and only about half of them still live on Yap (Look into terrible things the US empire has done to the peoples of Micronesia to understand why) I had a Yapese student last year Her family, although in the US, have several "donuts" (or wheels, as they call them) still on Yap The local Yapese here still use them for small IOUs and loans amongst each other, thousands of miles away from home
Comment from : Theo

stones have more value than those 1 and zeros that i cannot control myself
Comment from : Menachem Hafter

In after WW 2 Germany we also used Cigarettes
Comment from : adssad assssdsa

bottle caps!
Comment from : Poger

The socialists of Extra Credits making people believe that somehow fiat currency is superior to gold
Comment from : S L

Kublai Khan (1215-1294) br Khubilai Khan ordered his scientists to peel the bark of the mulberry tree, which feeds on cocoons, and extract thin strips of paper It was valued by coin marks (1, 5 grades) and certified by the great king's mark, so that the price of gold and precious stones could not be reduced, and it was introduced to every province and village under the Yuan state
Comment from : you are lier

3:33 The video uses the words "money" and "currency" interchangeablybrThis is wrong
Comment from : ricardo kowalski

ah cowrie shells which could be picked down at a beach less than 20 mins from where i am if only that were still money :D
Comment from : felics6

40°45'475"N 30°03'165"E
Comment from : Ken ve Popi

Alright so I went from oversimplified to fun stories to fun bureaucracy to fun things in science to actually important things to herebrMan, hoi4 opens up so many opportunities
Comment from : Т1000 Youtube

Weird
Comment from : Iron 451

Weirr
Comment from : Iron 451

Very interesting, thank you
Comment from : A B

I think this the seventh time I have rewatched this series
Comment from : Zachee Coolz

Oh so money comes from trees NOICE!
Comment from : RobloxFan456

Joe Biden should watch this maybe he could learn why he can’t just keep printing more an more
Comment from : 616 !

The fact they counted the stone at the bottom of the ocean is awesome
Comment from : 616 !

WRONG!!! There is ZERO evidence for barter before money There was a GIFT ECONOMY instead and the exchanges were mostly symbolic TIME TO END THOSE LIES
Comment from : Ziad Jeeroburkhan

Theres actually more than enough gold in the world Fiat currencies just oppress the poorer people
Comment from : Hatsuzuki

Spot on! I’ve just made my first video about the history of money 😃
Comment from : HistoryinDoodle

ai busse wont comefro another 5 years and subays wont coem fro another 2 years
Comment from : Jarrod Yuki

ai busses wont come for another 5 years and subways wont come for another 2 years
Comment from : Jarrod Yuki

That first part makes me feel useless
Comment from : Help Shizi

I find it kinda odd that I prefer the videos more about the money and political stuff, like the Irish Potato Famine series, the South Sea Bubble series, and, of course, this one
Comment from : IdaDood

Thanks for Such amazing content
Comment from : Zaraar Ali

Money is a curse
Comment from : Saroz Bagdas

Love the smaug reference
Comment from : Faizaan

ITS COTTON NOT PAPER ITS COTTON NOT PAPER ITS COTTON NOT PAPER ITS COTTON NOT PAPER
Comment from : aGoofyMan

$ Economics 101 U all get a credit for school after watching this Picks & Shovels must be next ✌️ br 💰 📃
Comment from : Michele Conley Eckert

the moral of the story is that he/she (no other) who is capable of producing his/her (no other) own food is the richer person
Comment from : Ben P T3DP

7:57 their outdated gold? There's an entire economic school of thought that disagrees with this statement
Comment from : James A Psemmas

6:41 is what is happening kinda In north korea and i think russia due to war and for being a dictatorist nation
Comment from : ◇Space Unit 1◇

on fridayi was dooing my first economics classabout economic growth and pursutsbrbrfound my self uing infomrmation i learned from this segment so im here to offer my apreciation
Comment from : masibulele anele

Literally the first sunk cost ever
Comment from : Kotarou Rider Black

Be careful, this is not the story of money that anthropologists and historians will tell you
Comment from : Quick March!

The X-Men ref got me good and idk why🤣
Comment from : James Donovan

3:35 the cigarettes are backwards 🚬
Comment from : James Weldon

and now we have cryptocurrencies if people can make credits out of thin air and need something to represent it, not by gold anymore, not by paper anymore, digital representation
Comment from : ekoi1995

That limestone money was definitely mr krabs dime
Comment from : Comical Mushroom

The yap stone “dime” has been in Mr Krabs pants for god knows how long now…
Comment from : David K

Thanks! I love your content I hope you get to offer it in spanish someday soon!!
Comment from : Alvaro Gastelumendi

John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God
Comment from : christopher

Paper money is actually cotton
Comment from : Seth Kunert

Coming here back years after the video to just thank Extra History for making me skip a big History Lesson about Banking and Paper money because i remembered info from this video
Comment from : Kevins World KW

Thanks!
Comment from : Form Melon

No offense but go to still valuable
Comment from : shadow slytherin

A history channel turned into a economic channel and I LOVE it
Comment from : Rao _

But why they want enormous round rocks!???
Comment from : Mauri Rodriguez

The funny thing is that all coins get converted to USD before being exchanged into whatever currency you are using Idk why we can t just use USD everywhere but ok
Comment from : First Name Last Name

This is not how money originated Look up David Graeber’s origin of money
Comment from : Justin Sanchez

I'm HIGH & started thinking
Comment from : Rrii Cool

greetings good day greetings thank you very much
Comment from : rea hermoso

David Graeber
Comment from : Selma Essafi

What the name for the song
Comment from : Isfren

Now we convincing people art in money Lol
Comment from : MEMES_R_GOOD_BUT_memes_R_ANNOYING

I know I’m 5 years late but I always love coming back here, but your talk about trade in the beginning ha me thinking how did the civilizations in the americas did trading if they didn’t use commodity money like gold or silver, unless they did use?
Comment from : History Monarch

ik that im pretty late, but we sung the outro song in elementary school lol
Comment from : Me when the

What a numbskull we are! brHow a paper could be worthy to buy even gold, oil!! brThis is the biggest conspiracy of US taking over the whole currency of the world!
Comment from : অকাল কুষ্মান্ড

TIL the island of Yap invented NFTs
Comment from : Bell Luan

3:25 the Latin word for money is derived from their word for cow
Comment from : Aidan Connor

What year did this happen in?
Comment from : Emmanuel Nwankwo

send this to the president
Comment from : Paul Ngunjiri

Now I kind of understand that one episode of SpongeBob Where Mr Krabs loses his dime and finds that weird circular dime LOL
Comment from : metalwave

3:14 brbrme: bsees chips/b new Vegas is that yo—brbrNew Vegas: BIG IRON BIG IRON WHEN HE TRIED TO MATCH THE RANGER WITH THE BIG IRON ON HIS HIP
Comment from : msmagrod

5:26 Septimius Severus: Observe
Comment from : Destrorso

I’m Australian what are you talking about
Comment from : Johnny des

F
Comment from : AIQUN JIANG

Ah, Yes Trade The thing which haunts Minecraft players in the Overworld and Nether This is why in 119 Mojang better add Paper money or we'll be screwed
Comment from : King Keshi 1!!!!!!!!!!!!!!!!!!!!!!!