Comments by "Louis Giokas" (@louisgiokas2206) on "When it REALLY Began - BankWars: Weimar Hyperinflation Episode 1" video.

  1. Money has value because it allows one to purchase concrete things. I don't use gold, or bitcoin, to buy thing, I use currency. Gold and bitcoin are considered assets. But guess what, the are valued in how much currency they can be exchanged for. Marx had another saying. He said money is stored up dead labor. That is a wonderful thing. If I couldn't store up the results of labor with some medium of exchange I can use later, we would be back to feudalism. What currency, and money, measure is the productive capacity an economy. Not how much of a commodity it possesses. Even before the US got off the gold standard, there was never enough gold to cover the currency in circulation.
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