The History of Paper Money - Lay Down the Law - Extra History - #4

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Information The History of Paper Money - Lay Down the Law - Extra History - #4

Title	:	The History of Paper Money - Lay Down the Law - Extra History - #4
Lasting	:	8.36
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Views	:	1,4 jt

Meet John Law His name doesn't exactly fit
Comment from : Extra History

6:26 Sounds like The South Sea company
Comment from : Gamespot Live

La banque law un classique
Comment from : lucien Arcos-palma

What I would give to be the Duke of Arkansas
Comment from : Bhzaddy Bhzolby

gold and silver have intrinsic value, from dental implants to the manufacture of electronics
Comment from : Thvndar

Gold and silver do have inherent intrinsic and extrinsic value Don't let charlatans say otherwise All John Law showed was that fiat money leads to the destruction of economies
Comment from : Theo

Criminals were given a pardon if they married a prostitute and moved to Louisiana …
Comment from : Arian Lucatero

Here in 2023 you're glorifying the very thing that is anchoring us down and bringing us to destruction!!!
Comment from : Joseph Hebert

0:47 "he thought banking was too honest for his liking"brbrNever thought I would hear anyone say that lol
Comment from : Hi im Ryan

South sea company but France?
Comment from : guy

Damn now I'm even more interested in learning about some of those scam prostitute/criminal marriages 💃🏼🕴🏼🏡 lol
Comment from : JustAGuy FromJersey

This explains a lot about Louisiana
Comment from : Idontknow WhoIam

So the dutch created modern banking?
Comment from : Toin

What's the outro music?
Comment from : Joseph Shlanta

What do you mean by the conjecture at 8:06? I don't understand it
Comment from : chrbx13

The damage done by these money technocrats through central banks is incalculable No man in this series is a hero to me
Comment from : AaronLee

Pulled the same short term trick from the south sea trading company
Comment from : Riley Oneal

Watching this as the US economy collapses for the same reasons
Comment from : gunterx voices

I find it funny that at 3:40 they make it seem as if Law is making a bunch of impressive calculations to determine his odds of wining, when he literally is holding a royal flush, which is the best possible hand you can get
Comment from : The Little Dude

I like how when the words “ gold and silver” are said there usually used quickly a few times after
Comment from : Joshua Graham

bIntense South Sea Bubble flashbacks/b
Comment from : Charlotte Searle

What is the opposite of Nominal Determinism?
Comment from : Charlotte Searle

Next up: England: South Sea Bubble
Comment from : haljoa

Why is this reminding me of the episodes on the South Sea Bubble…
Comment from : AnnikatheWitch

This reminds me of Making Money by Terry Pratchett 😂
Comment from : AlSidre

POLYMER MONEY IS DA BEST
Comment from : Bong Lambitco

Who doesn't love the dutch
Comment from : Possessed Potato Bird Official

I have known about French prisoners being given the option to marry a prostitute and move to Louisiana for YEARS! I laughed out loud when i found out that THIS is where that came from! X'D
Comment from : jestermon101

This is a french south sea company in action
Comment from : Ava Curtis

John Law, ironic
Comment from : Filia Knight

I'm always sad that this announcer advocated his position I think the bearded man is pretty good but I just really enjoyed listening to this young man
Comment from : chicken sniffer

Law was apprehended by the law…
Comment from : Fence 03

To say gold and silver have no inherent value is funny when you understand that those who make the claim put their faith in paper debt that is HOPEFULLY tied to those worthless bricks
Comment from : Thomas Manning

His rival fought Law, but Law won
Comment from : Gigawolf1

wait, an englishman accidentally crashes the french economy?
Comment from : HandGamer

Stonks
Comment from : Zachary

"Money is the value BY which goods are exchanged and not the value FOR which goods are exchanged"
Comment from : Patrick

Your subtitles aren't working
Comment from : Aleksandria Johnson

1:24 Law was caught by the law
Comment from : Casual Sleeping Dragon

I've been wondering if we are going to find that this is the reason why Braavos is the economic powerhouse of GRRM's world The Iron Bank uses iron coins, after all, and Amsterdam IS one of the inspirations for Braavos
Comment from : Cryptan

Duke of Arkansas sounds like a strange Dukes of Hazard spin-off
Comment from : Ludicrous Platypus

As I try to watch the extra history playlist in chronological order I am confused to find that while the history of writing was accurately dispersed throughout the timeline the history of money was very very much not I’m trying to connect these various plot threads together into the context of time but the lack of effort to properly disperse this series makes it near impossible to place it on the timeline of historical context Didn’t it say banking got started by the crusade? Why didn’t it pause to cover the crusade like writing did to cover the Bronze Age collapse? I was at pre-renascence a second ago, why am I now so close to present day? Why are we talking about London already? We hadn’t even gotten to the Romans yet This playlist needs to be adjusted, it’s lazy and unhelpful to lump the entire history of money together in a playlist centered on chronological order
Comment from : BoxyGirl96

I hope teachers play your videos in school from time to time, I remember Bill nye and other free public access programs with papers to fill out while viewing, it’s the cheap and easy way but honestly your content could benefit inner city and such
Comment from : Dylan

As soon as he formed a trading company to help sell his bank stocks, Walpole flashed in my mind and I knew the venture was finished
Comment from : Ryan McIntyre

Oh yeah south sea
Comment from : BlueBlackOp1

Where have I heard this story before
Comment from : BlueBlackOp1

Whoa whoa whoa marrying a prisoners marrying prostitutes and moving to Louisiana that sounds like there are a ton of interesting stories there
Comment from : Mr Divery

Note to self: bMoney is the value BY which goods are exchanged/b and not the value FOR which goods are exchanged
Comment from : Celso de Sá

Great video, but 7:56 fails to see the problems still caused by the concept today Being backed by gold, or really anything to enforce that ceiling is what prevents runaway inflation and makes corruption harder (though by no means impossible) You mentioned before that silver had be skimmed but that takes physical effort and time for every bit skimmed, with purely paper money, those in power can spend the entire economy's wealth on a whim
Comment from : PhyloGenesis

I know this is an old upload now, but brDoes anyone know what these Scottish ventures in Central America were?
Comment from : Maron Pazmino

hi extra history thank you so much for these videos it helps my class learn a lot about history
Comment from : ChefMelJ

did anybody get the pun at 3:17? outLAW
Comment from : Blackwood

6:25 the south louisiana bubble
Comment from : lapeez22

"Banking was too honest of an employment for him, []women and cards were far more to his liking" I want this in my biography too
Comment from : D HV

bus canadians with our plastic money: -_-/b
Comment from : JR Cooling & Heating

“To honest of an employment for him”brMe: same man I stole a lollipop at the age 4
Comment from : Lila Percy Person

love you vids bron money
Comment from : ELITEDUCKY2577

Dutch are rich baby 🇳🇱🇳🇱🏦🏦🏦🏦
Comment from : Spookie12

Being a prisoner and given a pardon and a prostitute as a wife just to move into another city sounds like a good dealbrAlthough I wonder was there ever any recorded story of what happened to those prisoners when they started living in that citybrMainly, seeing how they're essentially matched with a partner they have no romantic interest in and suddenly having to live with them and return to the working population
Comment from : Gazelle ガゼル

A royal pardon for a criminal, a free wife, and a Virgin land lot! Wow, nice!
Comment from : Khalid AlAli

John Law broke the law but the law never broke John Law and John Law became the law
Comment from : James Koch

"The problem was there wasn't any wealth coming out of Louisiana"brJohn Blunt: I fail to see the issue here
Comment from : James Koch

'Booied" My anger towards you is infathomable Sir IN-FATHOM-ABLE I SAY!!
Comment from : Sean McDonald

1:26 uh, I don't know if that will work
Comment from : Bryce Terry

@ 7:51 you've got to be kidding me The failure was due to the execution of his ideas about paper money Let me guess, Communism just hasn't been done right, it's all in the execution
Comment from : GoneBamboo

Meanwhile, in New France, money was hard to come by During winter, boats could not sail on the frozen St Lawrence River and trade stopped altogether It was hard to pay the soldiers and the workers in cold hard coins In 1685, the intendant of the time, Jacques de Meulles, has decided to deliver "IOUs" to pay the soldiers But there was no printing press in New France yet and good paper was rare However, everyone was playing cards So he wrote some amounts of money onto them, stamped a fleur-de-lys and signed his name The soldiers began to use the cards to pay the tradesmen in Québec City, which used them for their own purchases When the boats arrived in spring with new funds, everyone was able to get its money back The cards were even cut A full card was worth 4 livres (pound), half a card 2 livres and a quarter, 15 "sous" And thus was born "card money" the first paper currency in the Americas, five years before the one made in Massachussetts brbrOne note of interest, after the bankruptcy of John Law's bank, card money has been used in Louisiana in 1722
Comment from : Xerxes2005

1:25 John LAW was apprehended by the LAW This had made him an outLAW
Comment from : Benjamin Wilson

"got his sentence reduced to manslaughter so he was slapped with a fine and released" hahahaha, the good ol' times
Comment from : Alex C

Barry Lyndon?
Comment from : Tareq Ewaida

7:47 John Law: Oww!
Comment from : Heinrich Krull

ok i love your videos but calling the entire uk england is so annoying
Comment from : Rab

He is the literal meaning of genius Not my friend because he brought with him plastic cups in case of drinking time He was called the genius among my friends
Comment from : Rami Samman

R H db
Comment from : Chevanco gaming and other stuff Thio

So you’re telling me that Law is the one who invented counting cards
Comment from : MarcTheCanadian

Money is the value by which goods are exchanged but not for which goods goods are exchanged
Comment from : kotelli fors

" as we take the final step towards modern money, by getting off" If that were possible, I would have been a billionaire by the time I was 20
Comment from : Josephs Stories

but what ever happened to the bird that made a nest in his sweet beard?
Comment from : casey gray

When you see no dutch memes brbrSad cheese noice
Comment from : Maurik Kets

The “duke of Arkansas”? wut?
Comment from : samhouston1979

Pardon criminals to marry a prostitute and move to LouisianabrAnd thus Bourbon Street was born, and has been the same ever since
Comment from : Jack B

Wilhelmus van Nassau Ben ik van duits bloed
Comment from : Aflying Rat

6:50 😳 Free pu
Comment from : 3576alan

"too honest of an employment for him"
Comment from : Savage Antelope

When all the banking stuff came up I didn't understand a thing :/
Comment from : SasuKrow

It was Walpole
Comment from : Juviegar

so it WAS walpole!
Comment from : IAmSeamonkey

Overall I think this is the best series EH has done
Comment from : Francesco Fontecchio 🇮🇹

Duke of Arkansas, LOL
Comment from : MisterTutor2010

So I just realized after watching this for like the fifth time that Johnny law was caught by Johnny law 😂
Comment from : snow

A side lesson here is how men born into a certain style/level of privilege are very resistant to consequences of their dumb/badly-executed/evil/immature actions
Comment from : Camurgladius