Comments by "Ivancho" (@ivancho5854) on "Global Currency: The Dollar Ain't Going Nowhere" video.

Ah, something that I know a bit about. 5:30 The British didn't allow the pound to be used in the colonies because it was backed by gold and if it was used then gold would flow out of the UK. This is why a lot of former British colonies (eg the US, Canada, Australia, New Zealand, about 20 countries in total) use Dollars. Dollars comes from Spanish Dollars, also known as Pieces of Eight, which were commonly available. Although it didn't matter as much back then as they were all gold and it was the weight and purity of the gold coins that was important. I suspect that the Spanish didn't care that their currency was being used everywhere because they had such a huge influx of gold from South America (but I'm not sure). All the best everyone.
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