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- เผยแพร่เมื่อ 7 ก.ย. 2024
- In this video, we discuss the concept of currency, how it has evolved through the ages what would happen if all of us agreed to use a single common currency across the whole world.
The concept of money has been around for a long time, so long that it’s hard for us to imagine life without it. But if you go back in time by 5000 years, you’ll see humans living in a society where money didn’t exist and going about their lives just fine.
While the underlying need for currency has stayed the same over the course of history, everything else in the world has changed completely. Today, there are more than 180 currencies in circulation around the world and we exchange more than 4.1 trillion dollars worth of money every day. Because of this, currency trading is considered to be “the largest market in the world”.
But wait, what if we could make things simple again and remove the concept of currency exchange altogether? Let us take a closer look at a single currency system.
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In my opinion common currency is inevitable and benefits that it can provide are more valuable than what we've got now - ability to fix economies at expence of people! We have to overcome our fears and implement common currency for as many countries as we can!
Yeah but single currency or universal currency will not work within a different national sovereignty.
Hmmmm I need a one world government. 🌎 please.
I'm doing an essay on this at school for business, thanks a lot for the amazing video!
The only issue I see is that poor countries will become just as well off as wealthy nations and that's not something our greedy as*hole of a government would ever accept.
They don't see developing countries as humans. They're seen as "the other".
Since the world is going global anyway, let's all help eachother... If we can help make developing countries well off, it's better for us too. That's what humanizing means.
fish for sperm?
I could see how that would work.
You deserve atleast a million subscribers👍🏼
1. The average lifespan of a fiat currency is 27 years. 2. EU member states do not have equal influence on the European Central Bank policy (in addition the ECB is not accountable to the EU political organisation). Germany, France and Italy have the majority influence over the central bank's operations through. 3. The power and right to issue a single world currency would place absolute power in the hands of that organisation. Alternative title : "What would a single world government look like?". This video is naively packed with warm and fuzzy "what ifs" that ignore basic principles of money creation and control. Bitcoin is heading in the right direction (but absolutely not something to be considered as a global medium of exchange) - True decentralised finance is the future, not a financial dictatorship ;) (nb "blockchain" does not necessarily mean "decentralised". A blockchain can also be used as a perfect tool of authoritarian oppression if a single entity runs it)
you have no idea how much i needed it
Different currencies also hide how much people in developing countries are exploited. If an universal currency was existing workers would have a better understanding that the products they make are sold to much higher prices than the money they earn.
There would be no super power country. Great video!
What about country having their own currency but only exchanging with universal currency for foreign exchange
Underrated
correct me if i'm wrong but since the USA can have 52 states to use the same currency why can't we adapt the same model for the whole world, and are we not already doing it with bitcoin?
bitcoin is not a currency rather a commodity, the volatility it holds makes it unfit for a currecny
The idea of bitcoin was that, but I believe its main objective was to spread this reflection among people, to implement it in a better way in the future. From the moment bitcoin was sold on exchanges, which determine its price (against the dollar) based on its supply and demand on that exchange, it became more like an asset than a currency. A currency does not have to have a "price" or a value, what has value are the products and services we pay with it. Bitcoin's idea of privacy, decentralization and inability to "print" more (no inflation), is what should be perpetuated, and I believe this would be the best model for a global currency.
Can you make video about how do you make this videos?
Fantastic video.I love it.
Every continent must have their own currency like Europe
None of these videos cover about how monetary policy will get removed in this situation.
simple: one country one Earth
Watch out! HERE COME THE WATUSIES.
Two thumbs up.
Decommodifying all goods is a much better idea
I also got this idea while studying for tommorrow's online exam.
This would be like a one-legged stool
in theory, it could work
but the benefits will only come in the long term, people are impatient and would wait even 15 years to see the benefits, there will be riots all other the world where there will be countries that will suffer in the short term
Though I feel like if EVERY dollar was worth the same it would be the greatest thing an thats because products would solely come down to quality of an item sure every country would hypothetically cost the same but if country A made a better product then country B then they could charge more and this could be the example across the bored rather then an exchange rate itd be on a product by product basis and still allow for global trade based on a company's quality
That was such a great way of thinking and you ruined it all by saying dollar
The truth is that we all use the US Dollar
Solid video buddy... using this for my EPQ
i had this question for a while ty
the world need to do this
Good video,keep it coming
Make a video on “What if every country prints more money at the same time”
If they all print at the same time would it prevent hyper-inflation? What about total supply and supply circulation? How would it affect your buying power? Would the market react like crypto where value is distributed based on market cap value?
IMO, it will still result to hyperinflation. By printing more money, only the amount of money in circulation will increase but not the amount of goods produced. For example, a country produces 1 million units of food at 10 dollars per unit. Then all of us were given 1 trillion dollars so the supply of money increased. We will then use it to buy food. If 1 unit of food would still be at 10 dollars. One person could buy all of the supply of food leaving nothing to other people. What would happen is another person will stop this from happening by offering a higher price. We will be outbidding each other for resources, hence, inflation will occur.
Hyperinflation happens not because there is no concomitant increase in the supply of money in other jurisdictions. It happens because there is no concomitant increase in the amount of goods and services being produced.
@@chakho8548 love the explanation, how do they peg the supply to population? The value of currency has an element of speculation. How do we ensure no economy is stressed? How do we make sure everyone is comfortable?
@@chakho8548 I never said anything about gold based, put value on every human and base it on population.
@@londonghostar apologies, that comment is for another thread.
To answer your question, it will depend on the monetary policy which would depend on the economic situation of a country. But never on the value of a human being because human potential is limitless.
In our country, the people at the central bank makes an estimate based on the demand for the currency, a big factor of which is determined by our GDP. However, under our laws, the bills and coins in circulation shall not exceed the total assets of our central bank. Unlike in the US, our money printers don't go brrrrrrr. The US can do that because there is demand for the US dollars outside their country. They can trade their currency printed out of thin air for the goods of other countries who don't know any better because of their high credit as a nation. Not every country can do that. Case in point is Venezuela.
Bitcoins are limited in number and if it is accepted as a global currency (an utopian situation by which all the transactions are carried through cryptos and possibly it crash currencies) having same value all over the world, you can't use it in inflation and deflation cases, ie like making and less making it according to the needs of individual countries to balance its economy. If you say about dollar backed cryptos, then that itself contradict with the decentralized concept of cryptos.
Excellent video.
Nice
Music too loud
this is amazing
Wow..I'm really interesting.
Yeah but who determines when to or not to print money and by how much ? and who gets the fresh cash first before inflation robs you due to inflation.
Your 258th subscriber
What would we call the currency tho
Dogecoin
What would it be called
U.S. of F.A would loose it's edge if the currency is the same throughout the world.
Video starts at 3:05.....
The video neglected to mention the most important advantage of a single currency : taxes.
If all countries were to have the same currency, the central bank could just print money as necessary, without the need for collecting taxes.
What about inflation and investments
i can't digest your subscriber count :(
6:04 *Sad Peloponeso noises*
It wouldnt make sense as all countries will have different needs as for interest rates, a 10% interest rate for example will be benefitial for those countries in economic growth escenario and for those facing a recesion or harsh economic situation a high interest rate will just make things worsen.
Which currency will be in circulation and which leaders pickture will be printed on the currency note
Ancient an modern wonders of the world
Amazing!!
What's monero
The answer to the problem is cripto
A one world currency that is not in paper, but digital money.
Ripple, XRP
One thing: who would be on it?
A pic of Earth
If. We. Used. Same. Currency. In. The. World. Then. Easier. For. Trade. In. World. Balanced. Economy. You. May. Do. Your. Buisness. With. One. Group. Of. Trade. Then. One. International. Market. Solves. Every. Problem. Of. Trade. In. Any. Other. Items.
Sounds like the idea behind crypto currency 😂
end times
One world government.this scary
What's so scary about it? Afraid of a little cooperation between nations? How do you imagine a world government structured?
@@nathanlorincz6949 like states
@@nathanlorincz6949 We need to think on big scale
The US would throw a massive hissy fit even more so if Trumps still in office when its suggested..
It will be bitcoin
bitcoin
Bitcoin
This is a very bad idea, one country or region requires a certain inflation rate. One size does not fit all, take Italy and Germany when they both started using the euro, the interest rate was a German interest rate which was low. Italy needed a constantly devaluing interest rate, their manufacturing base went through the floor.
If you fix prices it prevents Competition and innovation, because necessity is the mother of all invention. If there is no need to do well then why would a company produce something cheaper than another company.
OK OK, if the were no companies at all and only government manufacturing, then why would anything be produced better than it already is. Government is already so detached from the people now, what makes you think that will change?
This idea will lead to a post communist/post authoritarian hell hole like Albania, but the world over.
National currency is a necessity for innovation, competition drives innovation because if someone does it better than you, youll be out of a job. National currency prevents stagnation and fuels economies, this utopian idea where you think everyone will be skipping through the daisys doesn't exist no matter how hard you wish. People are people, shitty human beings who don't like to play by the rules, at least let the smart ones and the kind ones have a fair go. We can actually make something from this world if we allow economies to flourish.
India will become the richest and wealthiest country in the world
It won't, because everyone will still have the same amount but different units
Like if you had 100 Indian rupees it will be converted to dollars so its still the same
@@sihleftthem he said India he wanna says India's GDP MORE then than America
Behind only China by few difference
210 lakh core rupees Indians GDP NOW IN Indian currency then it MEANS our country get richer than America ...only behind the China little if it happens
Chip in hand or forehead
The EU countries all used the same currency....COMPLETE DISASTER!
Thats means.
China is doing the right job..😱
US would be dead lol
Lol just fine
Are you have heard slavery ?
Learn bitcoin