The Gold Standard Explained in One Minute

A one minute video about the monetary role of gold. As of 1971, the precious metal stopped having such a role altogether and it's interesting to analyze how and why that happened. Through this video, I did just that.

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[OneMinuteEconomics]

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[Hannahbenowitz]

I never viewed metals as an investment, but I always saw it as a great way to save your cash & retain the value from when you bought it. It’s not hard to turn it to liquid cash, and it beats letting inflation destroy your savings.

[pierlucaangrisano]

This is what adin failed to realise is that even just mentioning these topics on stream has us on here researching these important topics. W top g

[willmickel]

In other words, today’s currency is based on feelings

[manninigusi]

I don’t want confidence, I WANT MY SHINY ROCK!!!

[derektorres]

Dude I really want you to know that this video is LIFE CHANGING, a 1 minute video made something that people take months or years to understand. Thank you so much dude god bless you bro

[uhauha]

My father told me that France and Japan suspected that USA printed more dollars than they told foreign central banks and used this paper to do big shopping in Europe and Japan: Real estate, factories , ships . . . To call the bluff ( or fraud ) France and Japan started sending shiploads of dollars to USA and ask for gold instead. It worked. In 1971 Nixon abolished the gold standard in America temporarily ( see his sermon "Nixon Bretton Woods", here on YouTube ) but politicians worldwide never regained control over their paper-money, worst example is Zimbabwe Dollar. The only reason that today in 2023, dollars and euro have almost same value is that EU- and US-politicians are the same type of irresponsible spendthrifts if not outright corrupt . . . In 2022 the Greek vice-president Eva Kaili of the EU-parliament was arrested by Belgian police with a suitcase full of money she couldn't explain. From 2007 to 2015 Danske Bank whitewashed a trillion kroner ( 166 billion US-dollar ) for Russian gangsters , none of the bosses in the Copenhagen bank went to prison in Denmark. Today gold is merely the bad conscience of politicians: Over the last 20 years the price of gold rose by 428 percent , the last 5 years 44 percent. Now politicians are messing up things again in Ukraine and gold is climbing towards 2-thousand dollar per ounce.

[dontquestionmyvideos]

Holy crap, early people literally exchanged their gold for a paper that doesn't have value on the first place, then got convinced that the paper has the same value as a gold . And after the exchange it became valuable as a gold...

[KingKevin_Segura]

Here from adin ross stream, and just learning these type of things is interesting

[TheIngPin]

holy crap man this is a great one minute explainer video. i can understand this even quicker than it would take for me to read a 3 page wikipedia explanation

[avinashbhujan]

i don't have confidence in reptiles

[JJ-fblp]

Best explanation ever. 1 minute well spent.

[elizabethanne]

Thank you so much! This really makes it easy to understand! This has really helped me understand the economy.

[irlserver]

Great job explaining a very important topic!

[OneMinuteEconomics]

If you liked this video, I think you'll love The Age of Anomaly, my Wall Street Journal and USA Today best-selling book about preparing for financial calamities (whatever they may involve). You can buy it over at:

[amosaft]

the world was successfully had in 1971, then a tale of how "unsuitable" for the modern economic needs the golden standard was was invented. bravo.

[krishnachaitanya]

It's perfectly clear now. Thanks mate...

[KrunkCobain]

The US dollar represents my confidence in the American government...I'm moving

[DavyDeloom]

what software have you used for animations?

[morgant.dulaman]

Narrator: "The value of the dollar is tied to people's confidence in it."

Me: "Oh...Oh dear..."