Comments by "Wojtek The Bear" (@wojtekthebear4958) on "The History of Paper Money - Origins of Exchange - Extra History - Part 1" video.

  1. Fractional reserve banking has nothing to do with a credit card company collecting 240% of a loan. That only happens if the person isn't paying the minimum amount like they were supposed to under contract. The rest of what you said is bullcrap and not supported by economics at all.
    2
  2. Fiat money will never be devalued to zero. That's not even how math works. Also as a currency gold can be very unstable and cause intense periods of both inflation and deflation.
    1
  3. Brandon Anthony That's still not how math works. The value could fall to a billionth of a cent, but it will never actually reach zero. Also, inflation at best is only about 2% a year. It won't come close to reaching that point in our lifetimes or the lifetimes of our children. By then a new currency can be fazed in with a stronger valuation than the dollar.
    1
  4. Pip Santos I'm not sure what you're trying to say here. Care to elaborate?
    1
  5. They meant deflation.
    1
  6. What? Greed just means people want more stuff. How does money someone make this desire for stuff stronger? Also, currency is basically the oil that keeps our economic machine running so inefficiently. With out, you run into many problems like the double coincidence problem.
    1
  7. Nice generalization there. By the way, people who support the gold standard usually advocate it because they think it will have some economic benefit, so they do want to force it down people's throats as well.
    1
  8. Said no economist ever.
    1
  9. Someone never learned of marginal utility.....
    1
  10. You realize most of the world has been using paper currency since the 18th century, right? The United States has never not used paper currency.
    1