How did the Gold Standard Work? | Casual Historian | Economic History

Have you ever wondered what happened to the gold standard? Have you ever wondered how the gold standard worked? Not just on the national level but on an international one too? This video explains how an international monetary regime was created, and how it maintained functionality without the need of a giant international institution.

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[sheilagrunhurd]

You used a term in this video I have never. Conservatarian perfectly describes me. I have been looking for a simple word to describe political preference and this is it.

[Soapmaker]

"It's not a liquid!!!" Lmao. Very nice intro.

[mm-dzpm]

4:25 is a wrong calculation. It should be 1.33 =1

[friendsamericanscountrymen]

Always great content, Greg! Examining fiat currency might be a nice follow-up for this video, maybe post-Bretton Woods to today.

[existo_mas_nao_penso]

The gold standart puts limittions on the influence of governments and big banks over the economy and stabilize the value of currency and inflations rates, it is the best sistem ever implemented

[joaquimmorgadooliveira]

You could have referred Portugal next to Spain
Great work !

[Howard]

Thank you, this is a good summary of the gold standard including pluses and minuses. I have red that the gold standard made the depression worse because interest rates were raised to defend the gold in the US which only increased unemployment and decreased commerce.

[jhonwask]

In this day and age, we should have the oil standard.

[illerac]

Looking forward to your take on Bretton-Woods

[hiddenhist]

It would be funny if the mali empire somehow got on a gold standard.

[durwinpocha]

gold standard - oil standard - is it time to try electricity standard? Nah, go back to trade beads and wampum all.

[addtankionline]

Is int the gold standard just a more specific anchor point than fiat. Instead of relying on the whole economic ecosystem of a country (fiat) you are relying on 1 instance of value which is gold (gold standard).

[mikeoxsmal]

We sould have the value of money measured in feaces

[anthonymorales]

And believe me when I say, I'm not anti-Semitic, if I wasn't Puerto Rican, I would rather be Jewish. I respect your people and how they stick together and keep their culture alive. ♥️

[webcelt]

The short and snarky answer to "How did the Gold Standard Work?" is it didn't. Hopefully, this will be a series since there's obviously a lot more to it than that, and different times have their different problems. An interesting tangent, or maybe not, was how the Eurozone struggled to climb out of the Great Recession because using the euro was like being on the gold standard, since the governments with struggling economies had lost the ability to revalue their currency as one of their tools.

[dsanti]

Gold standard dosent mean you walk around with a bag of gold coins . It means that the paper money you have is backed by Gold. It has intrinsic value, in which it’d redeemable if shall choose too. So many idiots

[anthonymorales]

Five years ago a friend introduced me to "The greatest story never told", all about Hitler on YouTube. Seeing this six hour video, I've come to the conclusion that the whole true story has never been told in the west.

[milkblues]

Yea he right don't believe the people saying it's a bad idea switching to the gold standard they probably paid by the higher ups

[bdpjbeezy]

I’m confused about how a country would acquire its gold. Did a country mine their gold, and store it in their treasuries, and then gave them to certain banks?

[PaleoalexPicturesLtd]

4:28 isn't the math wrong ? The ratio should be 3/4, or 0.75£=1$