Introduction to bank notes (which you are more familiar with than you realize).

High Efficiency Gas Furnace

No Responses to “Banking 5: Introduction to Bank Notes”

1. Corporations8MyBaby on July 25th, 2010 11:46 pm

   excellent point. perfect ivanleo. these are people who have problems in thinking in systems.

2. ivanleo on July 26th, 2010 9:04 am

   People who constantly point out the Fed is privately owned also constantly fail to notice the profits of the Fed must, by law, be paid to the US treasury.

3. ivanleo on July 27th, 2010 8:33 am

   Then please send me all your worthless banknotes, I’m sure I can find some use for them

4. AtheismIsWiked on July 27th, 2010 11:03 pm

   To be honest I didn’t give a shit about any of this, I just wanted to learn something new.

   Afterwards, I feel a lot more educated. I love your videos. I wish all teachers worked like you. I don’t think I would be lost without your help since I’ve always done fine without it, but with it I’ve been able to move a lot fast.

   Thanks a million.

5. biagiolembo on July 28th, 2010 9:03 pm

   sorry,
   what happens to the cash when it is used to pay back loans?? does the bank keep that cash for itself??

6. pickmanfox on July 30th, 2010 8:26 pm

   @cv45fg56hg83sd91
   As long as the currency is not backed by anything the government can always adjust its value. If they wanted to increase the value of the dollar they could, but it might have worse consequences economically than letting it shrink (for example, the Chinese government deliberately keeps their currency less valuable than the dollar to keep their exports cheap.)

   On the gold standard, the value of the dollar is tied to the availability of gold, which is harder to control.

7. pickmanfox on August 2nd, 2010 10:03 am

   @cv45fg56hg83sd91
   No, if you owe someone money or buy something from them you can pay off the debt using gold - if they agree to accept gold. If you offer them cash to settle the debt, though, they have to accept it, as it is “legal tender”. It’s up to them whether they accept payment in gold, or chickens, or any other form.

8. GtheMVP on August 2nd, 2010 5:18 pm

   you need to clone yourself so you can spread your common sense better, this world needs it!

9. apricotsnms516 on August 4th, 2010 8:24 am

   so is there an actual vault full of gold in the us?

10. cv45fg56hg83sd91 on August 5th, 2010 7:10 am

    Didn’t USA drop the gold standard? So does it mean owning gold is illegal and transactions based on gold metal are not allowed within US of A? Really, why don’t the US go back to a gold standard in order to save the shrinking & sinking dollar?

11. cv45fg56hg83sd91 on August 7th, 2010 6:04 pm

    I bought some nice banknotes for my collection on a Banknotes website, but since I had to pay (they were not free to me unfortunately) so I will not advertise their website on here, but the currency I bought are so nice. And I’m not sure if bank note collectors need something to deposit or store them in?

12. Evulmeh on August 7th, 2010 6:54 pm

    This is actually more in depth And a lot less biased towards an OH SHI- conclusion.

13. ivanleo on August 10th, 2010 4:50 am

    It’s not true that only 1 bank per country issues banknotes. In the United Kingdom banknotes are issued by the Bank of England, the Bank of Scotland, the Royal Bank of Scotland, Cydesdale Bank, Ulster Bank, Northern Bank, the Bank of Ireland and First Trust Bank.

14. pagalmadman1 on August 13th, 2010 8:40 am

    hey u can also try money as debt video on youtube…….its more fun as they have made animations to explain the same thing sal has tried………

15. pagalmadman1 on August 16th, 2010 2:38 am

    although i dont live in united states of america (nor have been there as of yet)…….still now i seem to know more than most of americans…..lol

16. Darkestaxe on August 17th, 2010 5:56 pm

    For those saying banknotes no longer represent anything because of the gold standard, the gold was never actually worth anything much either.

    Bank notes (money) is worth the goods and services it will buy. Golds primary value is how much MONEY people will pay for it because they THINK it’s worth money.

    So please watch more (or read a book) or be quite. Spreading disinformation makes it easier for banks to get people to pressure congress into helping them fuck up our economy further.

17. uraijit on August 21st, 2010 12:00 am

    Except bank notes no longer represent ANYTHING. The only thing they’re guaranteed to be good for is to pay taxes…

    Today’s bank notes aren’t worth the paper they’re printed on. They represent NOTHING.

18. ilikadapepsi on August 24th, 2010 9:53 am

    you should do it

19. jackuy12345 on August 24th, 2010 5:52 pm

    ??? why u reply me for dude? wtf?

20. Kin94285 on August 26th, 2010 12:59 pm

    notes were taken off gold in 1970 by nixon.

21. Kin94285 on August 29th, 2010 12:59 pm

    generally everything works good. It’s how the economy has grown for the last couple of hundred years. Of course there are hiccups here and there..

22. at1212b on September 1st, 2010 11:00 pm

    Therein lies the greatness of the Fed… there is aparently something backing it.

    Let’s just call it elixir

23. jackuy12345 on September 3rd, 2010 2:49 am

    keep them up!!!!

24. jackuy12345 on September 4th, 2010 6:28 pm

    lol this is a example that he assume everything went good and the wealth is created, assuming no bad accidents happened, yea if the wealth was fake the multiplier would not be working but yea… just a positive example

25. Schroeder182 on September 8th, 2010 12:45 am

    bank of george bush…lol.