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Previous video: История России. Вторая мировая война - День за Днём 18 серия (Декабрь 40-ого)Next video: Берлинская стена / Разделение на ГДР и ФРГ / Уроки истории / Минаев

0:00

О чем выпуск

2:08

История возникновения денег

5:34

Полезная реклама

6:22

Обменная валюта до появления монет

7:53

Какао-бобы в качестве денег

9:50

Ракушки Каури

12:07

Гвозди и сигареты вместо денег

13:04

Талоны в СССР

16:11

Водка в качестве валюты

17:38

Серебро в Месопотамии

20:05

Как благодаря деньгам персы подчинили греков

23:35

Деньги в Римской империи

26:05

Крестовые войны и слитковый год

30:18

Серебряная гора Потоси

34:03

Серебряный флот Испании

35:36

Революция цен в XVI-XVII веке

36:41

История талера

42:18

Первые бумажные деньги

44:57

Бенджамин Франклин

45:54

Американский ломаный грош

48:19

Бумажные деньги в «Фаусте» Гёте

50:30

Как доллар заменил золото

51:38

Самая слабая валюта в мире

53:08

Деньги сейчас

Берлинская стена / Разделение на ГДР и ФРГ / Уроки истории / Минаев

Берлинская стена / Разделение на ГДР и ФРГ / Уроки истории / Минаев

Channel: МИНАЕВ LIVE

История России. Вторая мировая война - День за Днём 18 серия (Декабрь 40-ого)

История России. Вторая мировая война - День за Днём 18 серия (Декабрь 40-ого)

Channel: История России

Разгром Спартака / Компромат на Цукерберга / Урок Истории для Милохина / МИНАЕВ

Разгром Спартака / Компромат на Цукерберга / Урок Истории для Милохина / МИНАЕВ

Channel: МИНАЕВ LIVE

Столыпин / Реформы и служение Николаю II / Уроки истории / МИНАЕВ

Столыпин / Реформы и служение Николаю II / Уроки истории / МИНАЕВ

Channel: МИНАЕВ LIVE

ВОДКА: История больших денег / Простовещи / МИНАЕВ

ВОДКА: История больших денег / Простовещи / МИНАЕВ

Channel: МИНАЕВ LIVE

Каким был СССР при Хрущеве?

Каким был СССР при Хрущеве?

Channel: ИстоЧел

сергей минаев

минаев

минаев лайв

минаев лайф

minaev

minaev live

minaev life

минаев live

уроки истории

история россии

история

деньги

история денег

деньги история

деньги история возникновения

история бумажных денег

бумажные деньги

бумажные деньги ссср

продукты ссср

талоны ссср

история монет

монеты история

монета история

инфляция история

история доллара

Бенджамин Франклин

доллар история

доллар

Деньги сейчас

простовещи

файб

исторические фильмы

купюры

00:00:00

What is money? Is it THOSE 500 rubles that

00:00:03

are lying around in your winter jacket or

00:00:05

maybe the amount on the screen that you see?

00:00:08

Well, for example, in your

00:00:09

bank’s application, or is it Bitcoin that you

00:00:11

once bought but forgot the passphrase

00:00:14

for your wallet? money is an amazing

00:00:16

thing when we they talked about other

00:00:18

simple things, these were quite understandable

00:00:22

things: potatoes and in Africa potatoes are

00:00:24

water, respectively, this is water Rice is

00:00:27

rice that 1,000 years ago that

00:00:30

with money the sun is much more complicated, they

00:00:32

constantly changed their

00:00:35

state of aggregation, they changed under the influence of

00:00:37

history and the essence of money, in addition to its form,

00:00:40

changed Also, today’s video

00:00:42

turned out to be large and detailed

00:00:44

because we decided to go the whole way of money and

00:00:46

understand how it changed along with the

00:00:49

states and eras that

00:00:52

surrounded it. We can no longer imagine

00:00:53

our life without it. Money is avoided

00:00:56

only by the inhabitants of some lost

00:00:58

abandoned islands in Indian Ocean

00:01:01

or some Indians in the

00:01:03

Amazon jungle, everyone else not only knows

00:01:05

about currency, people value it incredibly,

00:01:08

perhaps they value it more than anything else,

00:01:10

money would not have appeared on Earth If there

00:01:12

were no people, therefore any history of

00:01:15

money is the history of humanity and the

00:01:17

history of constant social

00:01:19

cataclysmic events that happened to them

00:01:22

If you watch our

00:01:24

video to the end, you will find out where

00:01:26

money came from, how it is related to the

00:01:28

concept of debt, how a mountain of

00:01:31

silver

00:01:37

collapsed, the world is a new episode of our

00:01:39

series, just things, we are doing it together with

00:01:42

my co-host Alexander fibe Don’t

00:01:44

forget to subscribe to his channel If

00:01:46

you haven't done this yet

00:01:52

[music]

00:01:57

let's go about 99,000 years ago,

00:02:00

people began to move from hunting and

00:02:02

gathering to agriculture and

00:02:03

pastoralism, new societies arise and a

00:02:06

clearer division of labor begins to take shape there,

00:02:08

you cannot

00:02:10

hunt deer today and leave tomorrow for the

00:02:13

whole day for berries while you are busy

00:02:15

growing grain, you have a

00:02:17

need for products and tools

00:02:19

that, for example, a neighbor makes and he is

00:02:22

not going to give you anything just like that,

00:02:23

this is the ideal moment for

00:02:25

inventing money But coming up with them

00:02:28

was not as easy as it seems, look

00:02:30

how it looks like if you don’t understand

00:02:32

the value of money, when you exchange, instead of

00:02:35

useful goods, for example milk or an

00:02:38

ax, you are given some kind of pabris that is absolutely

00:02:41

unsuitable for farming, it’s a shame for a long

00:02:44

time the most popular explanation for the

00:02:47

emergence of money was the barter

00:02:49

theory when people began to trade, people

00:02:51

agreed that they would have goods

00:02:53

that they could will be able to exchange without problems

00:02:55

with a fixed value,

00:02:57

now there was no need to think about how to make the

00:03:00

torque fair for both sides, this

00:03:03

theory, among others, was defended by the famous

00:03:05

economist Carl Menger, it sounds logical at first

00:03:08

glance, but today most

00:03:11

scientists do not agree with him. The anthropologist

00:03:13

David Graeber studied the wound of society and

00:03:16

came to The shocking conclusion is that barter had no

00:03:20

influence on the process of the origin of

00:03:23

money. The thing is that the first things

00:03:26

similar to money were found not in

00:03:28

markets and not in other centers of trade,

00:03:31

but in the temples and palaces of the Elite, as

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happened to a typical Egyptian or

00:03:36

Mesopotamian peasant after a

00:03:38

grueling harvest, gives his

00:03:41

grain to the authorities, the accountant records

00:03:44

how much grain was received on special

00:03:47

tablets in the oldest, more than 7,000

00:03:50

years after this accounting, calculation of calculation, the

00:03:54

hard worker receives a clay token in exchange for the product. What kind of token

00:03:56

was this, this is a

00:03:59

confirmation of his law of obedience, that

00:04:02

he did not deceive and was not weighed down and at

00:04:04

the same time this is the right to ask for something

00:04:06

valuable for yourself. If there is such a

00:04:08

need in exchange for a clear amount of

00:04:12

grain, this is more like not trade, but a

00:04:15

planned system in this regard. The

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first money resembled

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coupons familiar to the older generation, which gave the

00:04:23

right to receive sugar,

00:04:25

oil, meat products and everything like that, the length of

00:04:29

thin paper with inscriptions meant only one thing: the

00:04:32

authorities owe something: a debt to

00:04:36

society and a debt of society to a

00:04:38

person. This is the first essence of money. This

00:04:41

system may seem primitive to you,

00:04:44

but in Japan some 200 years ago everything

00:04:47

worked in a similar way, the famous koku

00:04:50

180 kg of rice were considered to be measures of magnitude

00:04:53

that are used in trade exchanges

00:04:55

both with the state and between people, and

00:04:58

here an important transition is already visible. First,

00:05:01

it is created by the state and then

00:05:04

goes to the people. Tokens How they appeared And how

00:05:08

they disappeared and in their place came other

00:05:10

objects denoting

00:05:13

[music ]

00:05:15

duty, my friends, many of you probably

00:05:19

combine watching healthy videos with

00:05:21

pleasant snacks, so that your

00:05:24

snacks are also healthy. I recommend

00:05:27

you

00:05:28

the dela sausage. Boiled sausage NS is

00:05:31

made from 100%

00:05:33

protein-rich turkey meat, it is ideal

00:05:36

for preparing salads,

00:05:38

sandwiches and snacks, whole pieces of

00:05:41

turkey and carefully selected spices in

00:05:43

the composition perfectly complement any dish

00:05:46

making it not only tasty but also light

00:05:49

combine business with pleasure

00:05:51

Try the NS sausage from inlight because a

00:05:54

well-fed person is who is a happy

00:05:57

person

00:05:58

Alai the

00:06:00

benefits [music] of

00:06:04

happiness when we travel around the world

00:06:06

almost everywhere you have to have dealing with

00:06:08

different currencies Turkish lira Thai

00:06:11

baht Arab dirhams the same thing was before the

00:06:15

invention of paper and metal

00:06:17

money, they all looked different Well, let's

00:06:21

start with China, in addition to rice, you

00:06:23

might even be able to pay with

00:06:26

salt about it we made an issue a year

00:06:28

ago to the north in Mongolia would be happy to use tea

00:06:32

as an exchange currency. They would take

00:06:34

tea, and not just any ordinary one. And

00:06:36

they drink such tea in briquettes there. You still passed through the

00:06:39

steppes and came to the territory of Ancient

00:06:42

Russia. Here, too, there is no money similar to

00:06:44

modern ones. The first coins

00:06:47

in our lands were imported, that is,

00:06:49

Arabic And our ancestors calmly

00:06:51

paid each other with fur,

00:06:54

marten skins were especially popular,

00:06:56

so the first metal money in

00:06:59

Russia

00:07:00

was called Kuna from the word marten, we move

00:07:03

west, we go a little forward along the

00:07:06

timeline to the 13th century, the

00:07:08

Baltic Sea region, cod, a fish that

00:07:11

was caught by the Norwegians, it was so

00:07:13

important for the inhabitants of the North German

00:07:15

cities that it replaced the currency. And if we,

00:07:19

together with the first Europeans, had sailed across

00:07:22

the Atlantic and ended up in the territory of

00:07:24

modern Mexico, there we would have

00:07:27

met the state from the stacks in the

00:07:30

local economy. There were no

00:07:32

beasts of burden if the inhabitants of the Old

00:07:34

World had them there. horses, donkeys or even bulls,

00:07:37

then for the New World it was all a miracle of

00:07:39

races, a marvelous and wondrous marvel, the Incas in South

00:07:43

America harnessed these

00:07:46

long-eared fluffy Llamas to work, and the Meso Americans

00:07:49

like the Mayans from the stacks did not come up with anything

00:07:51

better than carrying all the loads on

00:07:53

their hump. in fact, there weren’t even normal

00:07:55

rivers for rafting cargo,

00:07:57

you understand how ineffective their trade was,

00:08:00

in addition to this, trade was

00:08:02

very stifling if you traded not in a

00:08:06

specially designated area you could be

00:08:08

punished up to execution. Well, what’s wrong

00:08:11

when you get most of your

00:08:13

income through Tribute and robbery

00:08:16

you can beat the neighbors of the merchants, and even

00:08:19

here their own alternative currency has appeared,

00:08:21

it became cocoa beans, they turned out to be very

00:08:24

convenient, small and if they are dried

00:08:26

they can last for a very long time, that is, this is the

00:08:28

kind of money that does not spoil everything, and then

00:08:30

you can actually exchange them for something

00:08:32

cocoa beans most often used as a

00:08:35

crutch during barter. Well, that is, if

00:08:37

you, for example, need to exchange an armful of firewood

00:08:40

for an expensive basket, you could

00:08:43

finish off the difference with a couple or three of some cocoa

00:08:45

beans, and for large purchases, merchants

00:08:47

carried with them in bags a couple of tens of

00:08:50

thousands of these same cocoa beans. of beans, of course

00:08:52

it was super inconvenient, the economics of the

00:08:54

stacks was similar to Marie Antoinette,

00:08:56

a fan of chocolate, she also worked on

00:08:59

beans and they even had their own

00:09:01

fake coins, some had the

00:09:04

idea to take cocoa Bob and pull out

00:09:06

all the contents from it. And they stuffed it inside. Usually

00:09:09

such beans were mixed together with

00:09:11

normal beans, which was actually

00:09:13

not so suspicious, all this economics

00:09:15

came to an end When the Europeans came to the New World,

00:09:17

for them cocoa was an excellent

00:09:20

colonial product. But of course,

00:09:22

no substitute for money. But not everywhere

00:09:24

the Europeans were so

00:09:26

categorical about things like cowrie crayfish, these are the

00:09:30

shells of mollusks of the type cowrie cowrie. the inhabitants of Southern China

00:09:33

began to use them as money a very

00:09:35

long time ago, they realized

00:09:37

how convenient these shells are in exchange,

00:09:39

about 3500 years ago cowries are

00:09:42

small, light and, accordingly, do

00:09:45

not deteriorate at all, almost like metal

00:09:47

money, but not metal, the

00:09:49

ancient Chinese treated shells as a

00:09:51

luxury item and all the neighboring

00:09:53

regions that were in the sphere of Chinese

00:09:56

influence also perceived cowries. Well, by

00:09:59

the way, in the Philippines, cowries went out of

00:10:01

circulation only 200 years ago, cowries

00:10:04

were in use even in Russia during the Tatar

00:10:06

Mongolian yoke of cowries called

00:10:09

snake grass and zhirnovka, competing with

00:10:12

fur and rare ones with might and main coins, but the main

00:10:14

route of these shells became the more southern

00:10:16

lands, the Arabs dragged them as an

00:10:19

auxiliary currency throughout their

00:10:21

Empire, so the Shell coins managed to

00:10:24

end up in Africa, the famous city of

00:10:27

Timbuktu, and then the Age of Great

00:10:31

Geographical Discovery began, the Europeans did not

00:10:33

sit in one place, trade relations were

00:10:35

constantly expanding, the Portuguese, the

00:10:37

Dutch, the English all They actively

00:10:39

traded with the African population slaves

00:10:42

guns Colonial goods we have

00:10:44

talked about this many, many times, but we did

00:10:47

n’t say that in addition to barter there

00:10:48

was quite a money trade there,

00:10:51

the Europeans realized that cowries were incredibly

00:10:54

profitable for them as currency they

00:10:56

sent people to the Indian region to catch uh, I

00:10:59

bet they mined shells and used them to buy

00:11:02

thousands of slaves, raid for cowries, payback in two ways,

00:11:05

and this trade in shells did not

00:11:08

die even in modern times, only in the 10th

00:11:10

century, 75 billion cowries were brought to Western Africa for

00:11:12

a second, this is a total

00:11:16

weight of 115 tons actually this is what killed

00:11:20

cowries as a currency, they simply

00:11:22

depreciated in value; there were too many of them. As

00:11:24

you understand, metal coins

00:11:26

were not the only option for the development of

00:11:28

money; other things also calmly

00:11:30

coped with this task in different

00:11:32

regions of the planet. About cowries, if we talk

00:11:34

seriously, this is already a full-fledged worldwide,

00:11:38

as they would now say, reserve currency,

00:11:40

therefore, it is not surprising that

00:11:42

they turned to a money substitute in the 20th century

00:11:46

[music]

00:11:48

it is also important once again to say the rejection of

00:11:51

metal or even paper money is

00:11:54

not a sign of an undeveloped society. It was just more

00:11:57

convenient for some

00:11:59

by the natives; this is not what makes people; economist

00:12:01

Adam Smith, a native of Scotland, noticed that

00:12:05

in his native lands not everyone quotes the

00:12:07

British pound; many in Scottish

00:12:09

villages preferred to pay with

00:12:11

iron nails. Also, ordinary currency

00:12:15

may not be particularly relevant if there is

00:12:17

a catastrophe or a big war around you.

00:12:20

In the memories of Veterans of two world

00:12:23

wars, you constantly see cigarettes or

00:12:26

cigarettes; they even carried them with them Neya these are

00:12:29

light and incredibly valuable goods at

00:12:31

the front, the important thing that needs to be understood is

00:12:35

money is what the whole society and

00:12:38

individual people choose as money and

00:12:41

metals are used for this,

00:12:44

beautiful cut colored paper or

00:12:47

shells in general is not so important But finally

00:12:50

money loses its value if your

00:12:53

economy does not work according to the market

00:12:55

laws of the economy of the countries of the socialist camp for

00:12:57

the most part, and the principle of demand

00:13:00

gives rise to supply; what and how much

00:13:03

to produce was set from above in the

00:13:06

State Planning Committee. And prices were lowered from above.

00:13:09

It is clear that the planners

00:13:11

relied on the requests of the population and prices were

00:13:14

also not taken from the ceiling, but the problem is the

00:13:17

fact that no matter how smart and knowledgeable you are,

00:13:20

you cannot take into account everything, the

00:13:23

Austrian economist Friedrich FNK

00:13:25

noted one point about all

00:13:29

the desires of a person, even if you ask

00:13:31

him what you want, he may not

00:13:34

say something because he simply was not able to

00:13:36

formulate it or simply

00:13:38

wasn’t hungry When I went to the store for

00:13:41

food, therefore, a planned economy cannot fully take into account all the desires and

00:13:44

aspirations of a person.

00:13:48

A priori, a significant

00:13:50

part of household items, cars,

00:13:52

household appliances, even clothes and shoes, were in

00:13:57

short supply in the Soviet Union, especially in the late Soviet Union, and people

00:13:59

stood up in queues to pay the

00:14:00

money they had did not have the necessary

00:14:03

goods, that is, money in the

00:14:05

Socialist system They did not solve their

00:14:07

main problems even if you had them

00:14:10

on deposit in the savings bank You often could not

00:14:13

spend them And if something works

00:14:15

ineffectively, there will always be something - then to

00:14:17

replace it, the issue was partially resolved by

00:14:19

the state, that same coupon

00:14:22

system existed not only

00:14:24

during the war, coupons were introduced in the union every now and then, for

00:14:26

example, in the late

00:14:29

early eighties, due to the fact that

00:14:30

large cities were better supplied, people

00:14:33

went there to buy groceries for meat and

00:14:36

sausage then so-

00:14:38

called sausage trains rode around the country, people from the

00:14:41

regions went to Moscow to buy food

00:14:44

for the holidays, often on trains, and

00:14:46

many government officials

00:14:48

were unhappy with such raids for food, and then

00:14:51

in Perm, Sverdlovsk, Chelyabinsk and

00:14:54

Vologda, standards and coupons for meat and

00:14:57

fish products were introduced, essentially the same principles

00:15:00

that were still in Mesopotamia, the state

00:15:02

gives you tokens so that you can

00:15:04

buy something for yourself; the coupons finally

00:15:07

took over the country in the late eighties,

00:15:08

when for coupons for cigarettes, vodka and

00:15:11

soap with tea, Soviet citizens had to

00:15:13

stand in line in Zheka at their place of

00:15:16

registration in fact, you had to stand in

00:15:18

line for a coupon in order to then stand in

00:15:22

line in the store for the goods, and the whole

00:15:25

paradox of the situation is that

00:15:27

everyone who didn’t drink or smoke stood behind the coupons for vodka tank.

00:15:31

And even if you didn’t

00:15:33

have to fill the closet with cigarettes for the

00:15:36

precious dress

00:15:39

coupons for these goods were also a means

00:15:42

of exchange, if you didn’t need them, you

00:15:44

could exchange these coupons for what you

00:15:46

needed for other coupons or just

00:15:49

for goods; coupons were even protected from

00:15:51

counterfeiting as if it were real money

00:15:53

in Moscow, for example for coupons they applied

00:15:55

watermarks and patterned printing, a

00:15:58

real fight against counterfeit coupons,

00:16:00

there was another popular

00:16:02

money vodka, as a first approximation, it’s not

00:16:05

particularly suitable for the role of currency, the bottle

00:16:07

can be easily broken, you can’t take a lot with you,

00:16:09

but it still had its

00:16:11

advantages, first of all, it’s always there there was

00:16:14

a demand, we talked

00:16:17

about its important role in Soviet society in the issue.

00:16:19

Yes, and in Russia in the nineties, and secondly, it

00:16:22

was an ideal monetary equivalent;

00:16:25

prices for it rarely fluctuated, so

00:16:27

it is not surprising that the service sector in the union

00:16:30

ran on vodka fuel; the

00:16:32

stove needs to be repaired; the bubble went to the table

00:16:36

to the doctor and he helped you half a liter

00:16:39

as a compliment then you did

00:16:41

n’t have to drink vodka the doctor

00:16:44

or technician could use this

00:16:46

same bottle as payment

00:16:48

somewhere else for other

00:16:50

services what is this if not the typical

00:16:53

circulation of money in the economy that’s why

00:16:56

in the USSR They fought so hard against

00:16:59

moonshine not only because of concern

00:17:01

for the health of the population. The moonshiners were,

00:17:03

as it were now said,

00:17:05

cryptocurrency miners; they made money with

00:17:08

minimal investments. Although, of course, their

00:17:11

currency cost much less than the

00:17:13

Factory coupon system in some places

00:17:15

outlived the Soviet Union; in some

00:17:17

regions there were coupons in circulation for

00:17:19

a few more years, but with the advent of a market

00:17:21

economy, the need for coupons disappeared, now

00:17:24

you can buy goods. True,

00:17:27

people didn’t have money for them, when in ancient times people

00:17:30

exchanged grain, of course it was

00:17:31

great. Only it’s convenient, as long as your

00:17:34

trade is kukue in small regions, that’s

00:17:37

all for now As they say share the value of

00:17:39

exactly your equivalent of money when there

00:17:42

is Agreement between people, that is, they

00:17:44

agreed on a commodity currency, under

00:17:46

this condition everything works, but as soon as the

00:17:48

trading network begins to expand and

00:17:50

people 100

00:17:53

km from your city know nothing about your grain, you need some new

00:17:57

universal solution, the English

00:17:58

economist William Jevons, back in the 19th century,

00:18:01

listed seven requirements for a material

00:18:04

or product from which money can be made

00:18:06

value Well, everything is clear here

00:18:09

portability even a small volume

00:18:11

should cost a lot the third condition

00:18:14

Money should be well stored

00:18:17

and not rot or spoil products for this are

00:18:19

absolutely not fit further

00:18:21

homogeneity individual specimens

00:18:23

should not have unique properties

00:18:27

everything should be One

00:18:29

then it can be safely added

00:18:31

Subtract and The cost of such a product

00:18:34

should not jump either and finally the last

00:18:36

product that will become money should be

00:18:40

easily checked for counterfeiting

00:18:42

agree super clear and understandable

00:18:45

instructions Okay rice and salt turns out to be

00:18:48

grain and clay is definitely not suitable here And

00:18:51

then in Mesopotamia it finds a way out - there is

00:18:54

Copper, you can cut it into pieces and

00:18:56

start exchanging at the right time,

00:18:59

copper came to be replaced by Silver This is the oldest and most

00:19:01

tenacious monetary metal, the temples of

00:19:03

Mesopotamia even fixed the exchange

00:19:05

rate Silver is easily converted into the

00:19:08

main grain of Mesopotamia in barley, that

00:19:11

is, Silver was provided with barley, a

00:19:14

full-fledged grain standard of the transaction,

00:19:17

even the prices of that time were preserved, a

00:19:19

simple worker received approximately 10 g

00:19:21

of silver per week. Well, if you try to

00:19:24

convert this into modern rubles, it

00:19:26

turns out like 700 rubles per week and almost

00:19:29

3,000 rubles per month to be honest, it’s not a lot,

00:19:31

but it looks especially sad if you

00:19:33

look at the price of a sheep, for example, at that

00:19:35

time a sheep could be bought for 200 g of

00:19:38

silver or for 14,000 rubles and a slave for

00:19:41

28,000 rubles. It’s cheaper than many Chinese

00:19:44

smartphones, be that as it may. There

00:19:46

was no silver at the start in the form of coins, the

00:19:49

round shape familiar to us later appeared in

00:19:51

Asia Minor in the local kingdom of Lydia,

00:19:54

which was destroyed by the Persian Empire.

00:19:56

There is a problem with the Persians. The problem is that

00:19:58

behind the shadow of the Greeks, who made

00:20:00

European culture as we

00:20:03

know it, other peoples are lost who

00:20:05

were no less successful and not less strong

00:20:07

Well, everyone knows about Persia that it fought

00:20:09

with the Greeks Tsar Leonidas Battle of Marathon

00:20:11

Xex from the movie 300 Spartans Well and so

00:20:13

on and so forth Then

00:20:15

Alexander the Great came and tore the

00:20:17

Persian Empire to hell Without the right to

00:20:19

rehabilitation What is it called, of course,

00:20:21

but it blurs the overall picture

00:20:24

because the Persians actually won the

00:20:25

Greco-Persian Wars. Well, at

00:20:27

least they lost, and money helped the Persians in this.

00:20:31

How things stood. Persia,

00:20:33

unlike its neighbors, the Greeks, was a

00:20:35

fairly developed power and not a

00:20:38

collection of city states, and under the father of

00:20:40

Xerxes under Darius I. the Persian Empire

00:20:43

had a full-fledged monetary system;

00:20:45

silver coins called sikel or

00:20:47

shekel in the Bible, it will turn into a shekel.

00:20:50

And silver coins are also called sik in

00:20:53

Harry Potter. In addition to the Silver coin, the

00:20:55

Persians also issued gold coins, now they

00:20:58

sound a little childish, and the

00:21:00

coins did not live in any then parallel

00:21:02

universes and calmly converted for

00:21:05

one gold Darik gave 20 silver

00:21:08

shekels if you compare the weight of the coins with

00:21:10

the prices, it turned out that a gram of gold

00:21:13

changed for 13 g of silver Quite a

00:21:16

modern coefficient in the 19th century, the

00:21:19

norm was a coefficient of

00:21:21

1:15, so while the Greeks lived small

00:21:24

Even though the relatively wealthy communities

00:21:26

behind the Persians stood a gigantic Empire from

00:21:29

Greece to India and it paid everything. Tribute to the

00:21:32

Persian king of kings was paid in coins

00:21:35

from his image. The main reason for the

00:21:37

conflict between the Persians and the Greeks was the

00:21:39

issue of the Greek colonies of Asia Minor;

00:21:42

they were separated from the rest of Greece

00:21:45

by the sea and were What is called right

00:21:47

under the nose of the Persian Empire and these

00:21:49

famous Greco-Persian wars

00:21:51

happened largely because of these

00:21:53

lands in the first stage of the conflict the Greeks

00:21:55

managed to win a victory at this

00:21:57

stage we know but the marathon of King Leonidas 300

00:22:01

Spartans Armed Forces from there and then the Armed Forces it was

00:22:03

not at all so joyful for the Greeks

00:22:05

while the Persians

00:22:08

licked the extermination of each other in a

00:22:11

series of local conflicts that

00:22:13

were called the Peloponnesian Wars, as

00:22:16

a result the Greeks found themselves without money and without

00:22:19

resources, then the Persians understand that

00:22:21

their finest hour has come or postpone a direct

00:22:25

invasion to the

00:22:26

warmth of their fleet and their wealth

00:22:30

they lure the treasury to their side

00:22:33

Greek cities politicians in Greece

00:22:35

sat, let's talk, on the payroll of the

00:22:37

Persians and pursued the policy that

00:22:39

was beneficial to the Persian Empire

00:22:41

the art of Persian diplomacy in general

00:22:43

can be devoted to a separate issue, but what is

00:22:45

important to us is the result of the results of the so-

00:22:48

called Tsarist Peace Persia

00:22:54

was subject to the guarantors of the balance of power in

00:22:57

Greece itself, if Sparta Corinth or

00:23:00

Athena wanted to change the borders in their

00:23:02

favor without the desire of the Persian kings, the

00:23:05

Persians would have every right to intervene in

00:23:08

this conflict, so the Persians, thanks to

00:23:10

money, managed to achieve what they

00:23:11

could not do by force of arms, the Greeks of

00:23:14

Asia Minor were in their complete power and

00:23:17

for the next 50 years, no one will dare

00:23:19

to doubt that Persia rightfully

00:23:22

belongs to these possessions, everything will

00:23:24

really change only with the arrival of

00:23:26

Alexander the Great

00:23:28

[music]

00:23:31

this fall, a

00:23:33

study about what men think about the

00:23:35

Roman Empire became popular at least once a week, or

00:23:37

even more often If you too you often think about it, you and I are

00:23:40

sure everything is in order.

00:23:42

Me and I think the same for you based on our

00:23:45

joint issues. This is obvious. The Roman

00:23:47

monetary system became the basis of the

00:23:50

financial systems of all states

00:23:52

that were on its territory. Briefly,

00:23:55

what is its essence? The Romans had more than two, like the

00:23:57

Persians and three coins made of different metals

00:24:00

were

00:24:03

aureum denarii and bronze

00:24:07

sestertius, this does not remind one of the

00:24:10

competitions, three prizes are still

00:24:12

awarded in gold, silver and

00:24:15

bronze, all this is the Heritage of Rome when we

00:24:18

talk about the Roman financial system, the

00:24:20

most important thing that they need to know is silver

00:24:23

and gold are always not enough chronically, the

00:24:27

Romans, especially starting from the 1st century

00:24:29

AD, considered it their duty to spoil

00:24:32

the coin, that is, to deliberately reduce the

00:24:34

content of noble metals in their

00:24:36

composition; all this greatly damaged the reputation of

00:24:39

Roman money; after the fall of Rome, problems

00:24:41

only became greater; the barbarian

00:24:43

states of Western Europe were

00:24:45

cut off from sources of metals, and

00:24:47

The problem was not only that the

00:24:49

mines were in the east; there were silver

00:24:51

mines in Spain; there was no one to

00:24:54

exploit the technologies; they were fading into

00:24:56

oblivion;

00:24:58

they had to live on reserves that had not

00:25:00

been mined back in Roman times. Perhaps there would have

00:25:03

been no problems if it had not been for the

00:25:05

Arab conquests; under the control of the Arabs,

00:25:08

everything turns out to be the same Spain lost access to

00:25:11

metals, but a much bigger

00:25:14

blow for Europeans was trade,

00:25:17

how does international trade function?

00:25:20

The state and territories exchange goods with the hands of merchants;

00:25:23

everyone gets

00:25:25

what interests him; it is rarely

00:25:28

direct barter; European merchants

00:25:29

came to some Alexandria in

00:25:32

Egypt; they sold it for a asking price. coin,

00:25:34

the goods that they brought with them and for the

00:25:37

same coin they bought goods to

00:25:40

bring and sell them in their homeland,

00:25:42

only the Arab world in relations with

00:25:44

Western Europe was in such a

00:25:46

relationship that the Europeans then had

00:25:49

nothing to offer the Arabs; they were

00:25:51

much poorer than them and demand for goods from the

00:25:55

Middle East did not disappear anywhere, that

00:25:57

is, a European comes to Egypt

00:26:00

buys the goods and takes them to him to

00:26:02

sell to the Arabs, only his

00:26:04

gold and Silver were interesting and not his goods,

00:26:07

the situation is like gold and silver in

00:26:10

the West and so there is less and less money in circulation

00:26:12

this leads to the fact that

00:26:14

full-fledged trade between different

00:26:17

regions of the world dies and with the Arabs and

00:26:20

within Europe you have nothing to offer in

00:26:23

goods and the reserves of your coins are

00:26:25

rapidly running out. One example is in the

00:26:28

Silver Denarius of the Carolingian rulers

00:26:31

who for a short time united

00:26:32

France Germany and Italy there were only 36

00:26:37

grams of silver this is almost three times less than in a Roman

00:26:39

coin, I’m

00:26:43

generally silent about gold; it was only seen on

00:26:44

holidays; to get out of this crisis, the

00:26:47

Europeans had three ways; the first, the

00:26:50

easiest, was to stop trading with the east.

00:26:53

But this was something out of science fiction; the

00:26:57

authorities didn’t have it then such control

00:26:58

over trade so that the

00:27:01

ultimatum for its merchants to work

00:27:04

abroad, the second option is to sell what is

00:27:07

valuable. For the Arabs, there is little choice. And

00:27:11

yet there was only one commodity, slaves, that is, to

00:27:14

avoid the outflow of silver, they would have to

00:27:16

sell Christians into slavery. Infidels, it

00:27:19

turns out that this is also an impossible option; the

00:27:21

society is thoroughly Christian and it

00:27:24

was impossible to imagine such a thing. Finally, there is a

00:27:27

third way to rob the Arabs in order to

00:27:29

get their gold and silver.

00:27:32

That’s another conversation when Pope

00:27:34

Urban II declared the first

00:27:37

crusade, it was only the beginning of

00:27:39

almost two centuries, Catholic Europe

00:27:42

will go to the east, not only for

00:27:44

the liberation of the saints places It really was

00:27:47

important for them, but for the sake of money, in the 10th century, at the

00:27:50

court of the Holy Roman Emperor

00:27:52

Frederick II, the minting of

00:27:55

gold coins was revived, where this gold was brought from, I

00:27:58

think you can guess, the European

00:28:00

economy received a long-awaited dose of

00:28:03

precious metals, money appeared, and

00:28:06

with it the growth of

00:28:08

industry and trade began high

00:28:10

The Middle Ages with its revival of Europe

00:28:13

in the very beginning, no matter how much it sounds, the

00:28:16

plague epidemic of the 10th century, the same Black

00:28:19

Death that devastated Europe, helped prolong

00:28:22

these carefree years from the point of view of the

00:28:24

volume of money supply, a very cynical

00:28:26

conclusion: there are fewer people, which means they

00:28:30

need to be divided into fewer people but

00:28:32

everything tends to end in the

00:28:34

fifteenth century, the population grew at such a

00:28:37

pace as never before Europe was

00:28:39

faced with a terrible crisis

00:28:41

called the Great Bullion

00:28:43

Famine when we talked about the trade of

00:28:46

cod instead of currency in the Baltic Sea,

00:28:49

we were talking about this period, there

00:28:51

was nowhere to get coins from And in the water they

00:28:54

naturally did not float and such problems

00:28:56

were everywhere

00:28:57

in Germany, money was replaced with hot

00:29:00

peppers, the Germans will still call

00:29:03

their bankers pepper people for a long time in England,

00:29:07

King Edward I had to introduce a law

00:29:10

according to which weavers and the main pillar of the

00:29:14

English economy must receive

00:29:16

wages in money no matter what

00:29:19

the king understood that if the cloth

00:29:22

industry went bankrupt, it would pull the

00:29:25

whole country with it, but what was most important for us was bullion;

00:29:27

hunger motivated

00:29:30

Europeans to search for new sources of

00:29:32

silver and gold; it was

00:29:35

no longer possible to plunder the East; instead of a hearty dinner,

00:29:38

there was a table with leftovers, which meant we needed a

00:29:40

way to rich India. Now you understand

00:29:43

Why Columbus dreamed of finding gold on

00:29:46

new lands in his diaries the word

00:29:48

gold is mentioned 114 times Christopher

00:29:52

was just obsessed with it, now you understand

00:29:54

Why the Spanish monarchs sent the

00:29:57

conquistadors with parting words: get

00:30:00

gold as humanely as possible, but

00:30:03

get it at any cost. It was a question of

00:30:06

the survival of Europe and they found him The answer

00:30:10

when the conquistadors landed in the new

00:30:12

world They thought only about wealth for a reason

00:30:15

one of the first myths about

00:30:17

America is the city of Eldorado, a city

00:30:19

that is almost entirely built of

00:30:21

pure gold, few people know that the

00:30:23

Europeans did not stop at Eldorado there were

00:30:25

other stories about the super-rich

00:30:27

mythical cities that had to be

00:30:29

found and plundered by Europeans on the basis of

00:30:32

treasure hunting, their heads were completely blown away And

00:30:35

yet they managed to find their own

00:30:37

El Dorado, this is Mount Pathos in Bolivia when

00:30:41

the conquistadors discovered it They simply

00:30:44

could not believe their eyes the mountain

00:30:47

was simply made of silver they discovered it in

00:30:50

1545 And after 11 years, active

00:30:53

mining of the metal began; this discovery will change the entire

00:30:57

financial system of the world. In Pathos, over two and

00:31:00

more centuries, silver was mined with a total

00:31:03

amount of 820 million pesos, if translated into

00:31:07

Modern money, this is about one and a half

00:31:10

trillion rubles; 80% of the world's reserves were mined in Pathos.

00:31:14

silver It is not surprising

00:31:16

that a city arose around the mountain, which

00:31:19

quickly became the largest city in the new

00:31:21

world at the beginning of the 15th century,

00:31:24

160,000 people lived here. This is more than in the capital of the

00:31:26

Spanish Empire, Madrid. Or, for example,

00:31:29

more than in Milan or more than in

00:31:31

Rome and no one cares about

00:31:33

the climate. not the most comfortable, and breathing under

00:31:37

pressure at an altitude of 4,000 m above

00:31:39

sea level is simply wildly difficult, despite

00:31:41

this, people lived for the Europeans in Potos, it

00:31:45

was such a fulfillment of the dream of wealth.

00:31:48

But for the local population, it

00:31:49

was of course not so rosy;

00:31:51

up to 60,000 Indians worked in the mines which In general, the

00:31:54

Spaniards did not consider people as people, many here

00:31:56

would not be of their own free will. The Spaniards

00:31:58

used the old system of mobilization

00:32:01

and This system has been around since the time of the Incas,

00:32:04

men aged 18 to 50 from

00:32:08

Indian villages were called up or

00:32:10

driven to dig silver for the masters because

00:32:13

the oceans drove them out for 17 weeks a year.

00:32:16

Well, that is, they worked involuntarily in

00:32:19

these Mines for about 4 months and I must

00:32:21

say that it was Hellish work,

00:32:23

hard work, meager food, constant

00:32:26

rockfalls. But the main problem was

00:32:28

in the method of extracting silver to clean the

00:32:31

metal from impurities, the ore was thrown into liquid

00:32:34

mercury and heated, this process

00:32:37

is called amalgamation and it was

00:32:39

thanks to it that Silver was so easy to

00:32:42

mine. But for those who mined it, this

00:32:45

of course represented a mortal

00:32:46

danger for many of you, and Honestly

00:32:48

speaking, I, too, have had a Fear since childhood. The

00:32:51

Fear of breaking a mercury thermometer at

00:32:54

room temperature, mercury

00:32:56

tends to evaporate, and these beautiful

00:32:58

liquid metal balls can

00:33:01

kill if you breathe in their fumes,

00:33:03

as a Soviet child, I have this fear,

00:33:05

but in reality, what happened then is

00:33:08

what the Indians miners suffered from,

00:33:11

mercury poisoning was the main cause of

00:33:13

death for Eldorado workers Europeans

00:33:16

turned into a real mercurial hell for the

00:33:18

inhabitants of the New World; one of the missionaries

00:33:21

who worked in Pathos wrote that if

00:33:23

you drive 20 healthy Indians into the mines on

00:33:27

Monday, then by Saturday half

00:33:29

will remain disabled; another church

00:33:31

leader, the monk Augustine, noted that

00:33:33

every pesa coin minted in Pathos

00:33:36

cost the lives of children Indians Well, needless to

00:33:40

say that at some point the Indians

00:33:41

ran out and the shortage of workers in the

00:33:44

mines, not only in Potos, forced the

00:33:46

Spaniards and other Europeans to start

00:33:49

importing slaves from Africa Silver must

00:33:53

flow no matter what What happened

00:33:56

to the metal after it was mined and

00:33:58

they cleaned it, processed it there on the

00:34:01

spot in the mint of the Casa de Coin, the

00:34:04

coins were minted and only then taken out to

00:34:07

ports for shipment to Spain, these coins

00:34:09

went to Europe with the famous silver

00:34:12

fleet in a convoy of hundreds of

00:34:14

ships of galleons, which in

00:34:17

later years were so fond of plundering the English Pirates,

00:34:20

but this is not surprising The Silver Fleet

00:34:22

transported up to 170 tons of silver per year This is

00:34:26

absolutely probable wealth, then these

00:34:29

ships went to Spanish Seville and

00:34:31

further Silver dispersed throughout

00:34:33

Europe this cash flow was a real

00:34:36

tsunami As you remember in Europe for a long

00:34:39

time there was not enough metal even for

00:34:41

the exchange of goods people they were looking for substitutes

00:34:43

for classical money, and then a

00:34:46

real flood just happened; by the end of the 15th century,

00:34:48

Spanish pesos were paid everywhere from Mexico

00:34:51

and Peru to Arkhangelsk; it was a

00:34:53

real world currency; such a sharp

00:34:56

rise in the amount of metal could not but

00:34:58

lead to problems; today the state

00:35:01

cannot simply print money; this

00:35:03

leads to inflation, which is then very

00:35:06

difficult to restrain, prices begin to rise

00:35:08

along with the amount of money supply for

00:35:10

silver and gold money. This usually does

00:35:12

not apply if they are not spoiled by inflation,

00:35:15

almost zero, but the volume that

00:35:18

Spain launched was so

00:35:20

large-scale that even gold and silver

00:35:23

began to become cheaper, this event historians

00:35:26

called the Price Revolutions, prices rose

00:35:29

throughout Europe, annual inflation was

00:35:31

terrible for that time at 1.5% of wages,

00:35:34

of course, did not grow in England during the 15th century, prices

00:35:37

for goods rose on average by 155

00:35:41

percent, and the wages of a hired worker,

00:35:44

for example, grew five times slower for the

00:35:46

agricultural sector For Spain, this became a real

00:35:49

tragedy, but for the state in which

00:35:51

capitalism was formed, on the contrary,

00:35:54

goods from manufactories in England became

00:35:56

more expensive and the workers of these manufactories could be

00:35:58

paid the same amount; the profit of the

00:36:00

enterprise was growing at a terrible pace;

00:36:03

capitalism and modern society might

00:36:06

not have formed or would have done so much

00:36:09

later. If not the price revolution in the

00:36:11

sixteenth and 17th centuries, essentially

00:36:13

the wealth of the New World about which the

00:36:16

Europeans dreamed turned out to be a serious stress,

00:36:18

no one was ready for this until

00:36:20

some powers like Spain could not

00:36:22

cope with the wealth and went bankrupt,

00:36:25

others were able to adapt and instantly

00:36:28

got into the big league for some, a crisis

00:36:30

And for others, as they now say, the window

00:36:33

of opportunity, the silver rush led

00:36:35

to the flourishing of not only the South American

00:36:37

pothos. There were similar stories in Europe.

00:36:40

The Czech Republic for many centuries was one of the centers of

00:36:44

silver mining in Europe; they supplied the

00:36:46

metal to almost all of central

00:36:48

Europe at the beginning of the 15th century in the possessions

00:36:50

of small Baron Stefan went found new

00:36:53

deposits around the mines arose A city

00:36:56

named after the heavenly patron saint of

00:36:58

miners Saint Joachim the city of Joachim

00:37:01

steel modern Czech Jachymov such

00:37:04

wealth could not remain unnoticed

00:37:05

The fact is that, like in Pothos,

00:37:08

coins in Europe were preferred to be minted

00:37:10

immediately on the spot therefore by order

00:37:12

emperor, Baron Schlick received

00:37:14

incredible power into his hands, the ability

00:37:17

to create a silver coin, there were rumors

00:37:20

that this was just legalization, Baron

00:37:22

Schlick minted coins before that, but under

00:37:25

the hood, the new currency was named after the place of

00:37:28

production, Joachim Staller, and here,

00:37:30

watch your hands on silver reserves there were

00:37:33

so many Joachim Stylers being produced.

00:37:36

Well, a lot of it all

00:37:38

coincided perfectly with the successful political

00:37:40

situation;

00:37:42

Emperor Charles V from the Habsburg family was on the throne of the empire

00:37:45

to maintain a gigantic

00:37:47

empire that united Germany,

00:37:50

northern Italy, Benelux and Spain, he

00:37:53

needed an incredible amount of

00:37:56

silver, no Potosi at that time

00:37:59

Joachim stylers did not yet exist,

00:38:01

which for brevity began to

00:38:04

be called simply thalers became the main

00:38:07

currency of that time in the

00:38:09

German principalities alone 500 different

00:38:13

versions of Tyler, here he is a full-scale

00:38:15

competitor for pesos from the future Tyler

00:38:18

quickly scattered throughout Europe he

00:38:20

opened up to different cultures and

00:38:22

his name changed in Italy it turned into

00:38:25

tolero in Holland it became daler in Sweden

00:38:28

and Denmark it received a

00:38:29

state prefix and was called Rix daler

00:38:32

thaller penetrated even into the languages of non-

00:38:34

European peoples the inhabitants of the Pacific Ocean

00:38:36

from the Samovo islands turned it into Tola

00:38:38

and the Ethiopians about whom we will talk later

00:38:41

called it tallarico kingdoms the thaller

00:38:44

also could not pass. There were still

00:38:46

big problems with

00:38:48

metal deposits. This continued until the

00:38:50

beginning of the 15th century when hands reached the

00:38:52

Ural deposits, but until then

00:38:55

the issue of cash was acute. thalers

00:38:58

became the main currency of Russia at that

00:39:00

time, first they

00:39:07

were melted down in 1655 and up to the

00:39:10

reign of Peter in Russia, they simply took

00:39:13

a taler and stamped Russian symbols on top.

00:39:17

That is, the coin remained German, but

00:39:19

now with the symbols of the Russian kingdom

00:39:22

and with the year re-minted, this

00:39:24

craft looked very ridiculous, but it

00:39:27

was possible to make such money very simply,

00:39:29

this currency was called in honor of the original

00:39:32

Efimok Yuachim

00:39:34

Efim However, the main Tyler of the world was

00:39:37

Thaler of the Empress Maria Theresa, for a long time she

00:39:39

had to defend her right to

00:39:41

rule Austria and the Holy Roman

00:39:43

Empire, not a single conflict of the mid-late

00:39:46

16th century could have happened without Maria Theresa,

00:39:49

her armies and her money, and an

00:39:53

incredible thing happened coins with the face of the Eger Saga

00:39:56

Austrian coins were minted not only in Germany

00:39:58

and Austria, but also at the mints of

00:40:00

Great Britain, France and Holland, when the

00:40:03

Empress died in the world, they decided that there was no

00:40:06

need to change anything, they needed to leave the face of the

00:40:09

Empress and continue to drive

00:40:11

silver coins, and

00:40:14

one year of minting was set for all of them: 1780, the year of the

00:40:18

death of the Empress coins with Maria

00:40:20

Teresa came out even in

00:40:24

1975, the year when Minaev was born,

00:40:27

the thing is that the Terezin taler became a

00:40:30

sign of quality and a model for the whole world;

00:40:33

it was minted in such quantities that it is

00:40:35

difficult to count, in addition to mints

00:40:38

in Europe, coins with the empress were

00:40:41

also minted in other parts of the world on the island of Java in

00:40:44

Indonesia in China in Mozambique in Brazil

00:40:47

in African Eritrea even in

00:40:49

Madagascar And when in 1935

00:40:52

Mussolini traveled to Torx in Ethiopia, he discovered

00:40:55

that the locals were paying with silver

00:40:58

coins with the image of the Austrian

00:41:01

Empress,

00:41:04

they did not take any other currency except this seriously, the

00:41:05

Italians had to buy a license for

00:41:08

minting coins and a whole 2 years From thirty

00:41:11

pgos to 3 seventh Italy

00:41:16

riveted today in the same Ethiopia,

00:41:19

women wear jewelry made from

00:41:21

stylers and on all the face of the Empress

00:41:24

who lived 250 years ago on the territory of the

00:41:27

Arabian Peninsula, the same thing happened

00:41:29

in the west of Saudi Arabia in men

00:41:32

and amana silver coin with the European

00:41:35

empress was stuffed with its symbols

00:41:37

as they did with the efimka in Russia 300 years

00:41:40

ago and put into circulation sounds

00:41:43

Incredible but somewhere Maria

00:41:45

Theresa thalers are still in use when the

00:41:48

United States was thinking about its

00:41:50

own currency They didn’t want to

00:41:52

use the name pound is like that of

00:41:55

the British, and then because of the chromes they got

00:41:58

a modification of the word thaller dollar,

00:42:02

so the gigantic influence of the thaler on

00:42:05

money in the world even when

00:42:07

paper money was added to coins 11 centuries

00:42:10

ago a financial revolution took place in China, they

00:42:12

began to

00:42:15

use paper as money, but paper

00:42:18

itself is not a value to be a

00:42:21

monetary equivalent and here, of course, it is

00:42:23

far from metal. In the case of paper, the

00:42:25

same principle works as with clay

00:42:28

tokens of ancient Mesopotamia, this is a

00:42:30

receipt that you owe someone a certain

00:42:33

amount. The first paper money was issued in

00:42:35

exchange for the surrender of metal money for

00:42:37

deposit in a bank That is, you could come to

00:42:39

another Bank in a neighboring city to show a

00:42:41

receipt and pick up your amount, that is,

00:42:43

this is some kind of analogue of a metal

00:42:45

standard behind these paper receipts

00:42:47

there were classic money, but paper

00:42:50

money would have remained something niche

00:42:53

if not for the Mongols with the help of repression,

00:42:55

they forced everyone to switch to paper, and

00:42:59

it was like this: in

00:43:01

1273, the grandson of Genghis Khan, Kublai Khan,

00:43:04

decreed that everyone in the country should

00:43:06

accept paper money as

00:43:08

payment under penalty of death. And so

00:43:11

that people would not be tempted to

00:43:13

pay in gold and silver, he simply

00:43:15

ordered the confiscation of these assets from the population and

00:43:18

instead issue paper, and these

00:43:20

rules applied not only to the population of

00:43:21

China but also to visiting merchants. At the border,

00:43:24

merchants handed over all their valuables to the government in exchange

00:43:27

for some incomprehensible pieces of paper from their point of view.

00:43:29

Well, thank you that at least when going

00:43:32

abroad everything was returned to the merchants by the system

00:43:34

this can only work in those societies

00:43:36

where the Government can impose its will,

00:43:38

impose its standard on the entire population,

00:43:41

paper money can perform the functions of

00:43:43

currency, so far it is secured by trust

00:43:46

in the state, or fear of

00:43:47

responsibility to this state.

00:43:49

China under the empire, the yuan worked precisely

00:43:52

through fear. Well, look for yourself when

00:43:54

entering the country quickly

00:43:56

sketch foreigners, as now in some

00:43:58

countries at the airport they take photographs with a

00:44:00

camera and you leave your

00:44:02

fingerprints at passport control. If you

00:44:04

suddenly found out that a foreigner

00:44:06

had committed a crime, he was put on the

00:44:08

wanted list and found based on

00:44:11

the portrait he drew, you were restricted in the

00:44:12

movements of foreigners, constantly

00:44:15

searched, and at night foreigners

00:44:17

locked in a hotel so that they would not

00:44:19

go out into the street,

00:44:21

would not do anything illegal there, in exchange for

00:44:23

this, foreign merchants found themselves in a

00:44:26

country where they could not be afraid that

00:44:28

someone would rob them. Well, except for representatives of

00:44:30

the state itself, such a tough and in

00:44:32

some ways even cruel system was able

00:44:34

ensure the functionality of paper

00:44:37

money because it was impossible to do it any other way.

00:44:39

When paper got to

00:44:41

Europe it did

00:44:43

not immediately become money, but overseas it was

00:44:47

[music]

00:44:49

otherwise. Many people know the man who is

00:44:52

depicted on the US hundred dollar bill,

00:44:54

this is Benjamin Franklin, he became famous not

00:44:56

only as politician as well as a

00:44:58

diplomat and scientific encyclopedist, for example,

00:45:01

he became the inventor of the lightning rod,

00:45:04

today it seems like an ordinary invention,

00:45:05

but this is, if you do not take into account how

00:45:08

cities burned from fires caused by lightning,

00:45:11

among other things, Franklin became the author of

00:45:13

many quotes reflecting the essence of

00:45:15

American thinking, three quotes for

00:45:18

example, remember that time is money, there are

00:45:22

three faithful friends, an old wife, an old

00:45:24

dog and Cash, money and in this world there is

00:45:29

nothing certain except death and

00:45:32

taxes. As you can see, the topic of money is the theme of

00:45:35

his life, as for all Americans of that time.

00:45:37

Franklin became one of the

00:45:39

apologists for the idea of introducing paper money

00:45:42

to save the economy of the newborn

00:45:44

States. Later a year after the Declaration

00:45:46

of Independence, the American Congress

00:45:49

issues paper money in the amount of 13 million

00:45:52

dollars, today this amount, due to

00:45:54

inflation, was equal to 400 million, the new

00:45:57

currency was nicknamed continents and

00:46:00

as an equivalent they put up one

00:46:03

Spanish dog, which for convenience

00:46:04

was called the dollar, only it was all

00:46:08

incredibly artificial Nobody wanted

00:46:11

to trade a full-fledged Silver coin

00:46:14

for a piece of paper very quickly the ratio

00:46:17

fell by half two continents for one

00:46:20

Spanish dollar but the war continued the

00:46:22

need for money did not go away

00:46:24

and Congress simply dispersed the printing

00:46:27

press of the continent and finally stopped

00:46:29

appreciating the exchange rate the Americans even

00:46:32

created their own stable expression

00:46:34

and the continent collapsed It’s not worth it, the continent

00:46:37

became an analogue of our broken penny,

00:46:41

the experiment was obviously considered

00:46:43

unsuccessful, the issue of new paper money was

00:46:46

curtailed, it seemed that the American economy would

00:46:49

collapse, but the Americans were lucky, their victories on

00:46:52

land and at sea led to

00:46:54

Britain’s abandonment of the idea of returning the louse of the

00:46:56

colonies, the economy was saved not by

00:46:58

paper money, but by force weapons,

00:47:02

this whole story with paper money

00:47:04

was ingrained in the minds of ordinary Americans for a long time;

00:47:07

they sincerely hated paper money

00:47:09

and perceived it all as we today

00:47:12

treat the currency of all sorts of

00:47:15

three-letter pyramids, a scam, the American

00:47:18

state eventually came to its senses and bought

00:47:21

the continent from the population at the rate of 100

00:47:24

continental dollars, the states understood that it

00:47:27

is better not to allow such experiments anymore. The

00:47:29

US Constitution directly

00:47:32

states that no state

00:47:34

has the right to pay off debts with anything

00:47:37

other than gold and silver

00:47:38

coins, this norm has not been canceled and

00:47:40

it is still in effect to this day. Well, the usual

00:47:43

paper dollars will appear in the USA only

00:47:46

78 years later, along with the beginning of the

00:47:49

Civil War, paper money,

00:47:51

born as an IOU,

00:47:53

turned out to be closely connected with the power of

00:47:55

the state if the state has no Faith

00:47:58

or is not afraid of it, such currency will not be

00:48:01

used by the market, which quickly

00:48:03

notices and turns paper money into

00:48:05

simple rolls of paper and in the future this will

00:48:09

happen happened more than once while

00:48:12

experiments were carried out in the USA and

00:48:13

paper money was abandoned in Europe, paper was already

00:48:17

generally accepted, the state every now and then

00:48:19

used paper currency as an

00:48:21

additional roofing felt, but the attitude towards

00:48:23

this approach was positive, in order

00:48:26

to understand how paper

00:48:28

money was perceived, let’s look at the classic literature of Johann

00:48:30

Goethe Faust the first part was published in

00:48:33

1808 when Napoleon and France

00:48:36

dominated Europe; the second part was

00:48:38

written in

00:48:39

1831. People were already beginning to see around the

00:48:42

fruits of the Industrial Revolution, factories,

00:48:44

railways and more and more

00:48:48

working class people. Doctor Faustus as a

00:48:50

typical medieval Alchemist searches for the

00:48:52

secret of creating gold. Hail to the

00:48:54

Great Plum. hunger and secret knowledge

00:48:57

To achieve this goal, he makes a

00:48:59

bet with the devil, that is, Mephistopheles, on

00:49:01

his soul. And in the second part there is such

00:49:04

a plot: Faust and Mephistopheles end up at a

00:49:07

masquerade at the court of the emperor; the

00:49:09

emperor has serious problems with money;

00:49:12

he doesn’t even have enough to pay salaries to

00:49:14

his soldiers creditors are running after him

00:49:17

then the devil offers the emperor an

00:49:20

elegant solution to the problem of

00:49:22

finding gold that chemists have been looking for for centuries

00:49:25

this is paper Mephistopheles asks

00:49:28

the emperor to leave such a receipt the

00:49:30

said coupon is announced at a price of 1000

00:49:33

imperial crowns the papers serve as a

00:49:36

mortgage in our land there are hidden treasures

00:49:39

as soon as they are recovered light that is,

00:49:42

look, the devil comes up with money

00:49:44

that is backed by gold, which has

00:49:47

not yet been mined at all, the country grows rich on the

00:49:49

illusion of wealth, it flourishes and

00:49:51

no one is embarrassed that behind this money

00:49:53

there is nothing except words, but this does not save the

00:49:56

Imperial regime against it, they raise the

00:49:58

Goethe Rebellion We were, of course, the real ruler of

00:50:01

paper money led to

00:50:03

previously unseen growth, the standard of living of

00:50:06

the population will rise and rise, but

00:50:08

instead of peace it will

00:50:10

only lead to shocks, revolutions, wars and the

00:50:13

overthrow of the monarchy, and yet in reality

00:50:15

everything was not as sad as

00:50:17

Goethe painted; paper money at the turn of the century

00:50:20

worked on the principle of the gold standard

00:50:23

we talked about standards, including gold,

00:50:25

in the history of gold in brief,

00:50:27

this is the linking of paper money to a

00:50:30

certain amount of metal, not like

00:50:32

in Faust, a person could come to the bank and

00:50:34

exchange a bill for real metal,

00:50:36

only this system did not survive the First

00:50:39

World War in conditions of war, it was important to

00:50:41

fill the treasury and not to deal with

00:50:43

fulfilling obligations on gold, and

00:50:45

then after this the Second

00:50:47

World War struck and after it in the American

00:50:51

town of Bretton, GVA concluded agreements, the

00:50:54

currencies of the countries of the world

00:50:55

were no longer tied to gold. But their

00:50:59

equivalent became another currency,

00:51:01

US dollars, and it was the dollar that was pegged to

00:51:04

gold, that is, like a gold standard. But of

00:51:07

course, something very crooked here has

00:51:10

become even more relevant. The States

00:51:12

simply did not have that much gold. How many

00:51:14

dollars did they have? backing dollars with

00:51:16

gold turned into a fiction; in fact, the

00:51:20

money of the United States, like all countries in the world,

00:51:22

existed exactly on

00:51:24

The government of the country is on its word of honor, and as

00:51:27

you know, sometimes an honest word is not

00:51:29

enough. The 20th century has become an Olympics.

00:51:32

Among the states that are most likely to

00:51:34

collapse the exchange rate of their national

00:51:36

currency, the

00:51:38

Weimar Republic and Yugoslavia

00:51:41

during the collapse fought for first place, but the champion was not an

00:51:43

African country, but post-war

00:51:46

Hungary their currency at that time was called

00:51:48

Ping at the end of August forty-fifth for O

00:51:51

dollar they gave

00:51:52

1.320 ping in October already more than 8000 And

00:51:56

on May 1 in the soche 59

00:52:00

billion 59 billion Ping per dollar daily

00:52:04

inflation reached 400 about and in the summer the

00:52:08

exchange rate simply stopped measuring in dollars

00:52:10

the entrance went cents for a little over four

00:52:12

American cents

00:52:13

gave 20 Octa ons Ping this figure is

00:52:18

more than the number of kime in the diameter of

00:52:20

our galaxy the state could not do anything about

00:52:22

it the largest

00:52:24

bill in general became a sextillion, that is, a

00:52:27

billion trillion pengs As a result, with this

00:52:30

money the Hungarians could, well,

00:52:33

grow a stove when the cold weather set in,

00:52:34

we had to return the Gold Reserve and

00:52:36

introduce a new currency, fn, which is

00:52:39

still in use in Hungary. As you can see,

00:52:41

over the centuries, money more and

00:52:43

more lost its connection with the material

00:52:45

things that could be bought for it.

00:52:48

At first, they turned into impersonal

00:52:50

coins, then they appeared. paper money

00:52:53

tied to gold and then tied to the

00:52:56

state printing press

00:52:58

today money is lost even paper

00:53:01

reflection when we see numbers on the screen of a

00:53:03

smartphone, it’s as if we should be less

00:53:05

attached to them, and with the growing

00:53:07

popularity of crypto, even more so But even the

00:53:10

Bitcoin rate is not followed by many less

00:53:12

than the exchange rate of a dollar, and the soulless numbers

00:53:15

on the screen can dramatically change the life of

00:53:18

any person, here we could

00:53:21

say something highly moral about the fact

00:53:23

that money is a symbol. It would be

00:53:25

better if we lived without money. But this,

00:53:27

of course, would be classic hypocrisy on

00:53:29

our part; money was invented by people,

00:53:32

all works of art, brilliant

00:53:34

architecture, miracles of technology, all this is

00:53:36

created because money

00:53:38

is converted into the results of someone’s

00:53:41

work, you can complain about the universal

00:53:43

worship of the Golden Calf. Or you can

00:53:45

let go of emotions a little and accept that it is

00:53:50

impossible to live without money in modern society, and even this issue would be without them

00:53:53

didn’t work Thank you for

00:54:00

[music]

00:54:05

attention

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