Money and Finance: Crash Course Economics #11
Economy | Information | History | Online | Facts | World | Global | Money
So, we've been putting off a kind of basic question here. What is money? What is currency? How are the two different. Well, not to give away too much, but money has a few basic functions. It acts as a store of value, a medium of exchange, and as a unit of account. Money isn't just bills and coins. It can be anything that meets these three criteria. In US prisons, apparently, pouches of Mackerel are currency. Yes, mackerel the fish. Paper and coins work as money because they're backed by the government, which is an advantage over mackerel. So, once you've got money, you need finance. We'll talk about borrowing, lending, interest, and stocks and bonds. Also, this episode features a giant zucchini, which Adriene grew in her garden. So that's cool. Special thanks to Dave Hunt for permission to use his PiPhone video. this guy really did make an artisanal smartphone! https://www.youtube.com/watch?v=8eaiNsFhtI8 Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Comments
-
Did anyone see the Ruffles bag?
-
10 BC for a zucchini, are you high on bath salts???!?!
-
Those Yab Island stones is the Bitcoin of its day. The mining difficulty somewhat increase the value. (It also get's more valuable if people die obtaining it, for example the boat capsized.)
Since they eventually have to go the farther islands do mine, the price increase.
There is also no need to actually have the stone in possession. They can be used to buy stuff and the community remembers the transaction. Even sunk stones can be then used (those people did not die for nothing). -
PS: that's actually a bad zucchini, when they get that big they are pig fodder
-
If I borrow from a bank it is not necessarily someone's money, or rather only a fraction will be. Banks can loan more than they actually have in deposits
-
But isn't storage of wealth also a function of money?
-
NONE OF THIS WAS TAUGHT IN MY FINANCE 101 CLASS. .... AHAHHHHHH PROFESDOR WHY WON'T YOU GIVE US A STUDY GUIDE FOR THE FINAL??? IM GOING TO DIE TOMORROW
-
I don't want to pay $7,325.70 for a zucchini!
-
Barter systems, as proposed by economists, have never actually existed in the way that they argue it did. See anthropologist David Graeber
-
Thanks...
-
I'll buy your zucchini!!!
-
I thought the US temporarily moved off the gold standard for domestic purposes in the 30s.
-
really help for me thanks.
-
I'm only here because Clifford stabbed me in the back
-
So, a gold standard won't make money more valuable or reliable? tell that to Venezuela. When the Government can create as much debt as it wants, and the Fed can print as much Currency (not money) as it wants, that's called inflation and makes the money eventually worthless. US Currency has lost 95% of its purchasing power since going off the gold standard, mostly because Politicians simply cannot control their spending. So much misinformation in this series.
-
Chom Choms damn it!
-
please make a course for accounting
-
i bid 10 Bit Coins for that Zucchini pls, thanks
-
I miss the part where they explain why money has to be so charged with debt from top to bottom. Does the central bank profit from issuing currency? Why do they get non-existing interest on government treasury bonds?
10m 36sLenght
3801Rating